Sustainability, regenerative, and humane transition: role of Islamic finance

Tariqullah Khan

Chapter 2 in Islamic Finance and the Pursuit of Sustainable Prosperity, 2025, pp 14-52 from Edward Elgar Publishing

Abstract: This study examines the role of Islamic finance in fostering the humane transition of economies towards sustainability. As global economies undergo unprecedented transformation driven by climate data, regulatory initiatives, sustainability standards, green technologies, and shifting market preferences, the need for a robust framework to manage this transition becomes apparent. While long-term sustainability benefits are clear, short-term disruptions pose uncertain socio-economic risks. This chapter proposes an integrated, multidisciplinary, and dynamic framework for a humane transition to sustainability and managing the transformation process with a focus on the regeneration of social and natural systems. Islamic finance, as an inherently responsible business model, is positioned as a key stakeholder in this process. The chapter explores how Maqasid Al-Shariah-aligned Islamic financing can contribute to a just and humane sustainability transition, while also highlighting the opportunities this transformation presents for the Islamic financial industry's global competitiveness and strategic positioning.

Keywords: Sustainable finance; Maqasid Al-Shariah; Green technology; Regeneration of social system; Global competitiveness; Climate change; Socio-economic risks (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035349678
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