Advances in Consumer Research
Issue:6 : 213-229
Original Article
Impact of Islamic Social Finance and Islamic Banking on Economic Growth: A Systematic Literature Review
 ,
 ,
 ,
1
Tazkia Islamic University, Indonesia
2
Ibn Khaldun Bogor University, Indonesia
Abstract

This systematic literature review synthesizes existing empirical and bibliometric evidence on the impact of Islamic social finance (ISF) and Islamic banking on economic growth. The study addresses five key research questions concerning publication trends, dominant research methods, empirical evidence, mechanisms of impact, and future research directions. Through analysis of 60 studies spanning 2015-2025, the review reveals several key findings: Islamic banking demonstrates positive growth effects primarily through financial inclusion and investment channels, while ISF instruments (zakat, waqf, and Islamic microfinance) contribute to long-term development through poverty reduction and human capital formation. The literature shows strong geographical concentration in Southeast Asia, particularly Malaysia and Indonesia, with methodological predominance of econometric analyses and case studies. Significant research gaps include the need for integrated models combining Islamic banking and ISF, expanded geographical coverage, empirical testing of mediating mechanisms, application of advanced causal inference methods, and investigation of digital and sustainable finance innovations. The review concludes by proposing a structured research agenda to address these gaps and advance understanding of how Islamic finance contributes to inclusive economic growth

Keywords
Recommended Articles
Original Article
Switching OTT Platforms: PPM Framework to Identify Consumers’ Behavior
...
Research Article
Published: 28/11/2025
Research Article
What is the best policy mix to target the income gap? Based on the portfolio analysis of China’s income redistribution policies
Published: 21/11/2025
Research Article
Channel Agnostic, Customer Centric: Building Loyalty in a Post-Omnichannel World
Published: 21/11/2025
Loading Image...
Volume 2, Issue:6
Citations
377 Views
73 Downloads
Share this article
© Copyright Advances in Consumer Research