Islamic Finance and Multicultural Social Justice: A Systematic Review of Rahmatan lil-‘Alamin Principles in Economic Development
DOI:
https://doi.org/10.24235/jiesbi.v3i2.564Keywords:
Economic Development, Islamic Finance, Maqasid Al-Shariah, Social JusticeAbstract
In the context of globalization and multiculturalism, alongside persistent economic inequality and social injustice, this study examines the role of Islamic finance in promoting social justice by integrating Rahmatan lil-‘Alamin values and Maqasid al-Shariah principles into economic development. Despite the growing discourse on ethical and inclusive finance, the practical capacity of Islamic finance to address social justice challenges in multicultural societies remains insufficiently systematized. This study contributes a systematic synthesis that explicitly links Islamic finance instruments, Maqasid al-Shariah, and multicultural social justice within a unified analytical framework. Employing a Systematic Literature Review (SLR), this study reviewed 52 selected articles from an initial corpus of 2,616 Scopus-indexed publications published between 2015 and 2025. The findings revealed that Islamic finance promotes social justice through inclusive mechanisms such as profit-and-loss sharing, zakat, waqf, and sukuk, thereby contributing to reducing inequality, promoting financial inclusion, and empowering communities. The study concludes that Islamic finance is a viable ethical economic system capable of fostering inclusive, socially just development in multicultural societies.
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