Islamic social finance and commercial finance: a marriage made in heaven?
Journal of Islamic Accounting and Business Research
ISSN: 1759-0817
Article publication date: 22 June 2022
Issue publication date: 26 September 2022
Abstract
Purpose
This paper aims to explore different forms and models of integration between Islamic commercial finance and social finance including the problem that arise as well as the solution of each of the models to promote inclusive economic growth. At the end of the paper, the authors have identified the strategy to execute and validate by the decision-makers.
Design/methodology/approach
This approach uses two methods which are Delphi and analytical network process (ANP). The authors conduct literature review and four rounds Delphi to construct the integration model, the problem and solution of each model, as well as the questionnaire of ANP. Moreover, using an ANP method, the authors conducted interviews with decision-makers in the areas of Islamic commercial finance as well as social finance, and analyzed the results to identify key models that would create inclusivity and quality of economic growth. To ensure credibility of the results, the authors selected the respondents based on their experience in the fields, as well as their unique perspectives that will complement the group as a whole.
Findings
After conducting the four rounds Delphi, the authors found five types of Islamic social and commercial integration which are the ownership, institutional, operational, bottom line and mandatory integration. Based on the analysis of the ANP result, the authors argue that all integration can help the country in attaining with the support of government in terms of making the integration as a vision as well as to push the education of social finance more to the stakeholders.
Originality/value
This study is among the emerging studies that explore operational aspects of integration of social and commercial finance within the context of inclusive growth strategy.
Keywords
Acknowledgements
This paper is part of a research project funded by the Central Bank of Indonesia – Bank Indonesia Institute under the Research Grant Bank Indonesia Program 2019.
Citation
Tamanni, L., Indra, I., Syamlan, Y.T. and Priantina, A. (2022), "Islamic social finance and commercial finance: a marriage made in heaven?", Journal of Islamic Accounting and Business Research, Vol. 13 No. 8, pp. 1216-1233. https://doi.org/10.1108/JIABR-01-2021-0018
Publisher
:Emerald Publishing Limited
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