Determinants of Sustainable Business in the Context of Quadruple Bottom Line in Islamic Banks: A Systematic Literature Review
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 12
Abstract
The purpose of this research is to determine and evaluate the factors of business sustainability in Islamic banking by utilizing the Quadruple Bottom Line (QBL) model which examines the dimensions of Profit, People, Planet, and Prophet. The approach adopted is a Systematic Literature Review as SLR with PRISMA displaying a comprehensive analysis of 32 articles from Scopus-indexed journals published from the year 2010-2023. The results showed that the Profit dimension deals with protecting financial strength through effective risk management and assortment of Sharia-compliant products while the People dimension deals with social responsibilities through encouraging wider access to finances and micro-loans for synergetic development. In the Planet dimension, Islamic banks promote sustainability through green banking and investment in bioenergy. The Prophet dimension describes the distinctiveness of the Islamic banking system in which Sharia principles are interwoven in its activities to promote ethical or moral integrity. This paper contributes to the existing literature on sustainability by providing a Sharia value added dimension and makes suggestions to regulators and stakeholders on how policies can be implemented to create a harmony typology between economic, social, environmental aspects and religious adherence.
Authors and Affiliations
Dede Suharna, Apollo Daito , Indra Siswanti , Sri Marti Pramudena,
Keywords
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- EP ID EP752565
- DOI 10.47191/jefms/v7-i12-17
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