SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
type: channel
description: Editor in Chief : Muhammad Syauqi Armia Publisher : SUKUK Journal ISSN : Sukuk ISSN 2978-316X (British Library) Frequency : January, May, and September The SUKUK: International Journal of Banking, Finance, Management, and Business is supported by a dedicated team of Managing Editors who play a crucial role in overseeing the journal's editorial processes. Their responsibilities include coordinating manuscript submissions, managing the peer-review process, and ensuring effective communication between authors, reviewers, and the editorial board. This team is instrumental in maintaining the journal's commitment to academic excellence and timely publication. The SUKUK Journal is devoted to publishing high-quality research in the fields of banking, finance, management, and business, with a strong focus on Islamic finance and sukuk instruments. The SUKUK Journal promotes theoretical and empirical studies that enhance understanding of Islamic financial systems, sustainability, risk management, ethical investing, and governance practices. The Managing Editors are tasked with ensuring that submitted manuscripts align with these thematic priorities, advancing scholarly contributions in areas that address contemporary challenges and innovations in Islamic finance (see aims and scope & ethics and malpractice). SUKUK is an international and double-blind peer reviewed journal which welcomes high quality, theoretically informed articles on a wide range of areas related to banking, finance, management, business and economic studies. Benefits to authors: We also offer many author benefits, such as free PDFs, a liberal copyright policy, and much more (see: Fees). Please see our guide for authors for information on Author Guideline. If you require any further information or help, please visit our Support Contact.
publisher: SUKUK: International Journal of Banking, Finance, Management and Business
language: en
publication name: SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
issn: 2978-316X
items: Between Theory and Practice: Islamic Banking and the Realisation of Maqāṣid al-Sharīʿah
items: Integrating Tokenisation into the Islamic Business and Finance Ecosystem
items: Ethics and Sustainability in Business: An Integrated Perspective
items: Integrating Islamic Finance into Islamic Education Research Frameworks
items: Tazkiyatun Nafs and Economic Ethics: An Islamic Perspective
items: Introduction
items: Financing the Energy Transition through Islamic FinTech: Mechanisms, Opportunities, and Risks
items: Artificial Intelligence and Shariah Governance in Islamic Finance: Institutional Design, Value Creation, and Risk Management
items: Leadership-Driven Value Creation in Cross-Border Mergers and Acquisitions: Event Study Evidence from Microsoft
items: Risk Protection for MSMEs under Islamic Insurance: A Critical Examination of Takaful Practices
items: How Shariah Supervision Shapes Islamic Microfinance: Operational Models, Inclusion Outcomes, and Institutional Constraints
items: INTRODUCTION
items: Integrating Business Discourse into English Language Teaching: A Theoretical Exploration
items: Banking Acquisition and its Implications for Global Financial Sector
items: Currency Swap Agreements as Instruments of Regional Financial Governance: Evidence from Southeast Asia
items: Reconceptualising Fiscal Policy for Sustainable Mobility: The Role of Government Incentives in Eco-Friendly Vehicle Adoption
items: The Role of BRICS Cooperation: A Study on Economics and Geopolitical Impact of Indonesian Membership
items: Digital Payment Shifting in Micro and Small Business: Economic Opportunities and Market Impacts
items: A Deeper Look into the Indonesian Government's Fiscal Strategies on SMEs
items: Digital Financial Evolution in Oman: Central Bank Roadmap and Its Implications for the Financial Sector
items: Regulating Morality and Markets: A Critical Study of Fatwa Issuance Mechanisms in Islamic Economic Practice
items: Unveiling the Economic Potential of Islamic Finance in the Philippines: Opportunities and Regulatory Challenges
items: How to Ascertain the Shariah Compliance on the Islamic Financial Product? A Study on Green Sukuk
items: Cooperative Insurance in Times of Crisis: A Sustainable Model for Post-Disaster Economic Resilience
items: The Shift to an Interest-Free Economy: Pakistan’s Journey Toward a Fully Islamic Banking System
items: Farmers’ Protests in Europe: Economic Disruptions and Agricultural Sector Challenges
items: Climate Governance in the Financial Industries: Strategies for Sustainable Growth

Between Theory and Practice: Islamic Banking and the Realisation of Maqāṣid al-Sharīʿah
type: item
description: This article examines the gap between the theoretical ideals of Islamic banking and its practical realisation of maqāṣid al-sharīʿah. Islamic banking was established as a Shariah-based alternative to conventional banking, grounded in the prohibition of riba, ethical investment, asset-backed transactions, risk-sharing, and socio-economic justice. In theory, Islamic banks are expected to promote fairness, welfare, transparency, financial inclusion, and real-sector development. In practice, however, Islamic banking has often been criticised for relying heavily on debt-based contracts, particularly murābaḥah, and for resembling conventional banking in pricing, risk transfer, and profit orientation. This article conceptually explores whether Islamic banking has moved beyond formal Shariah compliance toward substantive maqāṣid-oriented outcomes. It discusses the foundations of Islamic banking, the role of maqāṣid in Islamic finance, the theory–practice gap, social impact, and institutional challenges. The discussion argues that Islamic banking cannot be evaluated solely by contract validity or legal form, but must also be assessed through its contribution to justice, inclusion, poverty alleviation, entrepreneurship, and ethical economic transformation. The article concludes that realising maqāṣid requires stronger governance, product innovation, social performance indicators, and institutional commitment to ethical substance.
subject: Articles
  topic: section
subject: Banking
  topic: keywords
subject: Maqāṣid
  topic: keywords
subject: Shariah
  topic: keywords
subject: Inclusion
  topic: keywords
subject: Governance
  topic: keywords
creator: Muhammad Rafli Azida Putra
rights: Copyright (c) 2026 Muhammad Rafli Azida Putra (Author)
date: 2026-05-10
publication date: 2026-05-10
starting page: 64
ending page: 79

Integrating Tokenisation into the Islamic Business and Finance Ecosystem
type: item
description: This article examines the integration of tokenisation into the Islamic business and finance ecosystem as a conceptual response to the growing digitalisation of financial markets, halal business, and Islamic social finance. Tokenisation enables real-world and financial assets to be represented as blockchain-based digital tokens, offering potential benefits such as fractional ownership, liquidity enhancement, transparency, traceability, and wider investment participation. Within Islamic finance, these features are particularly relevant because Shariah principles emphasise asset-backing, ownership clarity, risk-sharing, ethical investment, and the avoidance of riba, gharar, and maysir. The article argues that tokenisation can support Islamic capital markets, tokenised sukuk, halal supply chains, Islamic crowdfunding, waqf, zakat, and SME financing when properly governed through Shariah-compliant and maqasid-oriented frameworks. However, the integration of tokenisation also raises important concerns, including regulatory uncertainty, cybersecurity risks, speculative trading, digital literacy gaps, and the need for stronger Shariah supervision. The discussion highlights four core themes: tokenisation as Shariah-compatible financial innovation, its role in Islamic business ecosystem development, its potential in Islamic social finance, and the governance challenges that must be addressed. The article concludes that tokenisation offers transformative potential, but only if embedded within ethical, regulatory, and institutionally credible Islamic finance structures.
subject: Articles
  topic: section
subject: Tokenisation
  topic: keywords
subject: Blockchain
  topic: keywords
subject: Sukuk
  topic: keywords
subject: Waqf
  topic: keywords
subject: Governance
  topic: keywords
creator: Muhammad Fazlurrahman Syarif
rights: Copyright (c) 2026 Muhammad Fazlurrahman Syarif (Author)
date: 2026-05-10
publication date: 2026-05-10
starting page: 47
ending page: 63

Ethics and Sustainability in Business: An Integrated Perspective
type: item
description: This article examines the integration of ethics and sustainability in business as a conceptual response to contemporary organisational challenges. Business ethics provides the moral foundation for decision-making, transparency, accountability, fairness, and stakeholder responsibility, while sustainability expands business responsibility beyond profit toward social welfare, environmental protection, and long-term value creation. The article argues that ethics and sustainability should not be treated as separate managerial agendas, but as mutually reinforcing dimensions of responsible business practice. Drawing on literature on business ethics, corporate governance, ESG, CSR, stakeholder management, triple bottom line, and long-term value creation, the article develops an integrated perspective for understanding how ethical principles shape sustainable strategies and how sustainability gives practical expression to ethical commitments. The discussion highlights four major themes: ethics as the foundation of sustainable business, sustainability as strategic business responsibility, integration of ethics and sustainability in organisational practice, and contemporary constraints such as greenwashing, short-term profit pressure, weak governance, and technological disruption. The article concludes that businesses seeking resilience and legitimacy must move beyond compliance-based responsibility toward values-based governance, ethical leadership, stakeholder trust, and sustainability-oriented organisational culture that support responsible and future-oriented economic development and institutional accountability across diverse organisational contexts globally in increasingly uncertain markets worldwide.
subject: Articles
  topic: section
subject: Ethics
  topic: keywords
subject: Sustainability
  topic: keywords
subject: Governance
  topic: keywords
subject: Responsibility
  topic: keywords
subject: Transparency
  topic: keywords
creator: Mohamad Singgih Pamungkas
rights: Copyright (c) 2026 Mohammad Singgih Pamungkas (Author)
date: 2026-05-10
publication date: 2026-05-10
starting page: 30
ending page: 46

Integrating Islamic Finance into Islamic Education Research Frameworks
type: item
description: This article examines the integration of Islamic finance into Islamic education research frameworks as a conceptual response to the growing need for interdisciplinary, ethically grounded, and socially relevant scholarship. Islamic finance is not merely a technical field of banking, investment, or financial contracts, but a moral-economic system rooted in Shariah principles, justice, risk-sharing, and social welfare. Islamic education, meanwhile, aims to cultivate holistic human development through the integration of knowledge, values, spirituality, and social responsibility. Bringing these two fields together allows Islamic finance education to move beyond technical instruction toward a broader research framework that connects financial literacy, ethical formation, curriculum design, institutional development, and community empowerment. Drawing on contemporary literature in Islamic finance, Islamic education, curriculum studies, and interdisciplinary Islamic knowledge, this article argues that Islamic finance should be embedded within Islamic education research as both a subject of study and a practical tool for socio-economic transformation. The discussion highlights three core dimensions: the ethical foundation of Islamic finance education, the role of knowledge integration in research development, and the institutional challenges facing Islamic higher education. The article concludes that integrated frameworks are essential for advancing Islamic finance scholarship and producing socially responsible graduates.
subject: Articles
  topic: section
subject: Finance
  topic: keywords
subject: Education
  topic: keywords
subject: Ethics
  topic: keywords
subject: Curriculum
  topic: keywords
subject: Integration
  topic: keywords
creator: Huwaida Tengku-Armia
rights: Copyright (c) 2026 Huwaida Tengku-Armia (Author)
date: 2026-05-18
publication date: 2026-05-18
starting page: 13
ending page: 29

Tazkiyatun Nafs and Economic Ethics: An Islamic Perspective
type: item
description: This paper examines the relationship between Tazkiyatun Nafs and economic ethics from an Islamic perspective by analysing how spiritual purification shapes ethical economic behaviour, social responsibility, and moral accountability. Grounded in Islamic teachings, Tazkiyatun Nafs is positioned as a foundational mechanism that cultivates honesty, justice, moderation, and integrity in economic activities. The study adopts a qualitative and conceptual methodology based on the analysis of Qur’anic verses, Hadith, classical Islamic scholarship, and contemporary literature in Islamic economics, spirituality, and ethical governance. The findings suggest that spiritual purification contributes significantly to ethical economic conduct by discouraging greed, corruption, excessive consumerism, and exploitative practices while simultaneously encouraging social solidarity, charitable giving, and equitable wealth distribution through instruments such as zakat, sadaqah, and waqf. The paper further highlights the relevance of spiritually grounded ethical leadership and responsible governance in promoting sustainable and inclusive economic development. However, contemporary economic systems driven by materialism, profit maximisation, and consumer culture continue to challenge the practical implementation of Islamic ethical principles. The study concludes that Islamic economics cannot rely solely on legal and institutional compliance but must also integrate spiritual and moral transformation to achieve a just, sustainable, and ethically responsible economic system.
subject: Articles
  topic: section
subject: Tazkiyah
  topic: keywords
subject: Ethics
  topic: keywords
subject: Spirituality
  topic: keywords
subject: Justice
  topic: keywords
subject: Accountability
  topic: keywords
creator: Ahmad Nu’man Bin Muhammad Fuad
rights: Copyright (c) 2026 Ahmad Nu’man Bin Muhammad Fuad (Author)
date: 2026-05-10
publication date: 2026-05-10
starting page: 1
ending page: 12

Introduction
type: item
subject: EDITORIAL
  topic: section
creator: Muhammad Syauqi Armia
rights: Copyright (c) 2026 Muhammad Syauqi Armia (Author)
date: 2025-05-10
publication date: 2025-05-10
starting page: i
ending page: iii

Financing the Energy Transition through Islamic FinTech: Mechanisms, Opportunities, and Risks
type: item
description: The financing of the global energy transition remains a critical challenge, particularly in emerging and developing economies where conventional green finance instruments face structural limitations and financial exclusion persist. This study examines the potential of Islamic FinTech as an ethical, inclusive, and technologically enabled mechanism to mobilise capital for renewable energy and low-carbon infrastructure. Adopting a qualitative and conceptual approach, the research synthesises insights from Islamic finance, FinTech, sustainable finance, and energy transition literature to analyse mechanisms, opportunities, and risks associated with Islamic FinTech in energy transition finance. The findings highlight key mechanisms, including Shariah-compliant crowdfunding, green and digital sukuk, blockchain-based smart contracts, AI-driven project screening, and waqf- or zakat-based platforms, which collectively enable inclusive, transparent, and scalable financing solutions. Islamic FinTech facilitates mobilisation of private and diaspora capital, enhances financial inclusion and energy access, improves transparency and trust, and supports SDGs and climate resilience. However, its effectiveness is constrained by Shariah compliance risks, technological vulnerabilities, regulatory fragmentation, greenwashing, and institutional capacity limitations. The study underscores the importance of integrated governance frameworks, risk management protocols, and alignment with Shariah and sustainability principles. Islamic FinTech thus represents a transformative yet challenging pathway for ethical and inclusive low-carbon energy finance, offering both practical and policy-relevant insights for regulators, financial institutions, and development stakeholders.
subject: Articles
  topic: section
subject: Islamic FinTech
  topic: keywords
subject: Sustainable Finance
  topic: keywords
subject: Renewable Energy
  topic: keywords
subject: Shariah Compliance
  topic: keywords
subject: Energy Transitions
  topic: keywords
creator: Jihad Nafidzulhaq
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: 62
ending page: 75

Artificial Intelligence and Shariah Governance in Islamic Finance: Institutional Design, Value Creation, and Risk Management
type: item
description: This study examines the institutional, ethical, and governance implications of artificial intelligence (AI) adoption in Islamic finance, with a particular focus on Shariah governance, value creation, and risk management. Drawing on a qualitative and conceptual analysis of existing literature, regulatory standards, and Shariah governance frameworks, the paper conceptualises AI not merely as a technological innovation but as a governance-transforming force within Shariah-compliant financial systems. The findings indicate that AI integration necessitates a reconfiguration of traditional Shariah governance structures, moving from ex post product approval toward continuous, lifecycle-based oversight that embeds Shariah principles into algorithm design, deployment, and monitoring. In terms of value creation, AI enhances operational efficiency, risk assessment, and financial inclusion while supporting ethical objectives aligned with maqasid al-shariah, particularly when explainable and human-in-the-loop models are adopted. However, these benefits are contingent on robust governance arrangements that prevent the erosion of moral judgment and institutional accountability. The analysis further reveals that AI introduces new Shariah-specific risks, including algorithmic opacity, data bias, and accountability gaps, which may undermine transparency, fairness, and trust if left unaddressed. Overall, the study demonstrates that the impact of AI in Islamic finance is fundamentally mediated by governance quality. It contributes a holistic institutional perspective that integrates Shariah governance, AI ethics, and risk management, offering policy-relevant insights for regulators, Shariah scholars, and practitioners seeking to balance technological innovation with ethical and religious integrity.
subject: Articles
  topic: section
subject: Artificial Intelligence
  topic: keywords
subject: Shariah Governance
  topic: keywords
subject: Islamic Finance
  topic: keywords
subject: Institutional Design
  topic: keywords
subject: Risk Management
  topic: keywords
creator: Muhammad Syauqi Bin-Armia
creator: Yessen Kambakov
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: 49
ending page: 61

Leadership-Driven Value Creation in Cross-Border Mergers and Acquisitions: Event Study Evidence from Microsoft
type: item
description: This study examines how leadership influences value creation in cross-border mergers and acquisitions by analysing capital market reactions to Microsoft’s international acquisition announcements. Positioned at the intersection of finance, international business, and leadership studies, the paper investigates whether leadership-driven strategic coherence shapes investor perceptions of cross-border M&A outcomes. Using an event study methodology, the research evaluates abnormal and cumulative abnormal returns surrounding Microsoft’s cross-border M&A announcements under Satya Nadella’s leadership, drawing on established event study techniques to capture short-term market responses. The analysis reveals that Microsoft’s cross-border acquisition announcements are generally associated with positive and statistically significant abnormal returns, indicating that investors perceive these transactions as value-enhancing. The findings suggest that leadership credibility, organisational learning, and strategic clarity play a critical role in mitigating the uncertainty typically associated with cross-border acquisitions. Rather than viewing international M&As as inherently risky, the market appears to interpret Microsoft’s acquisitions as integral components of a coherent long-term strategy focused on innovation, global integration, and platform-based growth. This study contributes to the literature by demonstrating that leadership functions as a key mediating mechanism between cross-border M&A strategy and shareholder value. The results highlight the importance of leadership-driven governance and strategic alignment in shaping market expectations. Future research may extend this framework across firms and industries, and examine the long-term performance implications of leadership-led cross-border acquisitions.
subject: Articles
  topic: section
subject: Leadership
  topic: keywords
subject: Merger and Acquisitions
  topic: keywords
subject: Event Study
  topic: keywords
subject: Cross-Border
  topic: keywords
subject: Microsoft
  topic: keywords
creator: Ardelia Vidya Riana
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: 31
ending page: 48

Risk Protection for MSMEs under Islamic Insurance: A Critical Examination of Takaful Practices
type: item
description: This study critically examines the role of Islamic insurance (takaful) as a risk protection mechanism for micro, small, and medium enterprises (MSMEs), with particular attention to its ethical foundations, operational effectiveness, and institutional implications. It explores how takaful’s principles of mutual cooperation, risk sharing, and Shariah compliance position it as a viable alternative to conventional insurance for MSMEs facing heightened vulnerability to operational, financial, and market risks. Given the growing importance of MSMEs in emerging economies and the persistent gaps in insurance penetration, understanding takaful’s capacity to enhance enterprise resilience is increasingly important for sustainable economic development. The study primarily analyses conceptual frameworks, existing empirical literature, and institutional practices related to takaful and MSME risk management, without providing firm-level econometric testing. Key research questions addressed include how takaful schemes provide practical risk protection for MSMEs, and what advantages and limitations arise from their operational models and governance structures. Using a qualitative and conceptual approach, the study draws on Islamic finance literature, policy documents, and comparative insights from different jurisdictions. The findings suggest that takaful can strengthen MSME resilience, promote financial inclusion, and support economic stability through ethical risk pooling, though its effectiveness is constrained by affordability issues, limited coverage, low awareness, and regulatory fragmentation. Future research should empirically assess MSME outcomes and explore how regulatory harmonisation and digital innovation can enhance takaful’s developmental impact.
subject: Articles
  topic: section
subject: Takaful
  topic: keywords
subject: MSMEs
  topic: keywords
subject: Risk Protection
  topic: keywords
subject: Financial Inclusion
  topic: keywords
subject: Islamic Finance
  topic: keywords
creator: Muhammad Putra Pratama
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: 15
ending page: 30

How Shariah Supervision Shapes Islamic Microfinance: Operational Models, Inclusion Outcomes, and Institutional Constraints
type: item
description: This study examines how Shariah supervision shapes the operational models, financial inclusion outcomes, and institutional constraints of Islamic microfinance institutions (IMFIs), with particular attention to their role in serving unbanked and underbanked populations. It explores how Shariah governance differentiates Islamic microfinance from conventional models by embedding ethical principles, social responsibility, and religious compliance into financial intermediation. As demand for Shariah-compliant financial services continues to grow in developing and Muslim-majority economies, understanding the governance mechanisms underpinning Islamic microfinance is critical for advancing inclusive finance agendas. The study primarily addresses how Shariah supervision influences product structures, risk-sharing arrangements, and financing contracts, as well as how it affects inclusion outcomes for marginalised communities. It also considers the institutional and regulatory constraints that limit the operational effectiveness of IMFIs, without providing extensive empirical measurement of client-level impacts. Using a qualitative and theoretical approach, the study draws on existing literature, governance theories, and comparative insights across different institutional models, including NGO-based, cooperative, and bank-linked IMFIs. The findings suggest that robust Shariah supervision enhances institutional credibility, client trust, and ethical accountability, thereby supporting financial inclusion, while simultaneously generating trade-offs between Shariah idealism and operational practicality. Future research may empirically assess governance quality and inclusion outcomes, and examine the implications of digitalisation for Shariah supervision in Islamic microfinance.
subject: Articles
  topic: section
subject: Shariah Supervision
  topic: keywords
subject: Islamic Microfinance
  topic: keywords
subject: Governance
  topic: keywords
subject: Inclusion
  topic: keywords
subject: Institutions
  topic: keywords
creator: Asrul Fuadi Anwar
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: 1
ending page: 14

INTRODUCTION
type: item
subject: EDITORIAL
  topic: section
creator: Muhammad Syauqi Armia
rights: Copyright (c) 2026 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2026-01-10
publication date: 2026-01-10
starting page: i
ending page: iii

Integrating Business Discourse into English Language Teaching: A Theoretical Exploration
type: item
description: This study explores the theoretical foundations of integrating business discourse into English Language Teaching (ELT), with a particular focus on how authentic business communication practices can enrich linguistic competence, foster professional readiness, and bridge the gap between academic English instruction and the communicative demands of global business environments. Given that English has become the dominant language of international business, the urgency of this study lies in the need for ELT to adapt its frameworks to better prepare learners for workplace realities and cross-cultural professional interactions. The scope of the study is primarily conceptual, as it develops theoretical insights into how business discourse can be systematically incorporated into ELT curricula. While it highlights pedagogical models and curriculum design implications, it does not evaluate empirical classroom applications or measure learner outcomes, thereby positioning its contribution as a theoretical exploration rather than a practical implementation. Central questions guiding the discussion include how business discourse can be systematically embedded into ELT and what theoretical models best support the fusion of linguistic and professional competencies. Methodologically, the research employs a qualitative and theoretical approach, drawing on literature from applied linguistics, business communication, and pedagogy. Through synthesis and discourse analysis, the study constructs a conceptual model for embedding business discourse into ELT and highlights potential pedagogical strategies for curriculum development. The findings suggest that incorporating business discourse into ELT enhances communicative competence, professional readiness, and cross-cultural adaptability, thereby positioning learners to succeed in increasingly globalised professional contexts. Looking ahead, the study identifies the need for future research to empirically test the integration of business dis…
subject: Articles
  topic: section
subject: Business Discourse
  topic: keywords
subject: English Language Teaching
  topic: keywords
subject: Business Education
  topic: keywords
subject: Business Interaction
  topic: keywords
subject: Professional Communication
  topic: keywords
creator: Najwa Tgk Armia
creator: Huwaida Huwaida
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-07
publication date: 2025-09-07
starting page: 58
ending page: 72

Banking Acquisition and its Implications for Global Financial Sector
type: item
description: This study explores the dynamics of banking acquisitions and their implications for the global financial sector, focusing on how mergers and acquisitions (M&A) reshape competitive landscapes, influence financial stability, and alter governance practices. It further examines the role of acquisitions in promoting cross-border integration and expanding international capital flows. Amid heightened financial globalisation and recurring crises, understanding the systemic impact of banking acquisitions has become increasingly urgent for regulators, policymakers, and institutions striving to ensure stability and resilience in an interconnected global ecosystem. The scope of this research is primarily centred on the macroeconomic, regulatory, and governance implications of banking acquisitions. It does not provide firm-level case studies or detailed microeconomic modelling of operational efficiency, shareholder value, or customer outcomes, thereby limiting its focus to systemic and institutional dimensions. Key questions addressed in the study include how banking acquisitions influence global financial stability and sectoral resilience, and what governance and regulatory challenges arise from large-scale cross-border acquisitions. Methodologically, the research employs a qualitative approach that combines policy analysis, literature review, and comparative case studies of major international banking acquisitions. Drawing on institutional reports, global financial stability assessments, and regulatory frameworks, the study assesses the systemic implications of acquisitions in shaping the global financial architecture. The findings suggest that banking acquisitions play a transformative role in the financial sector by enhancing integration and growth opportunities, but they simultaneously introduce governance complexities and systemic risks that demand robust regulatory oversight. Looking ahead, future research should explore fintech-driven acquisitions, assess their impact on…
subject: Articles
  topic: section
subject: Banking Acquisition
  topic: keywords
subject: Global Financial Sector
  topic: keywords
subject: Financial Integration
  topic: keywords
subject: Governance
  topic: keywords
subject: Systemic Risk
  topic: keywords
creator: Sahrani Sahrani
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-07
publication date: 2025-09-07
starting page: 44
ending page: 57

Currency Swap Agreements as Instruments of Regional Financial Governance: Evidence from Southeast Asia
type: item
description: This study examines the role of currency swap agreements as instruments of regional financial governance in Southeast Asia, focusing on how these arrangements strengthen liquidity support, promote monetary cooperation, and reduce reliance on external financial institutions. By analysing bilateral and multilateral swap mechanisms, particularly within ASEAN+3 frameworks, the research highlights their contribution to enhancing regional resilience and economic stability in an increasingly volatile global financial environment. The urgency of this issue lies in the recurring external shocks and global uncertainties that expose the vulnerabilities of Southeast Asian economies, underscoring the need for robust regional mechanisms that ensure financial self-reliance. While the study provides valuable insights into the institutional design, governance frameworks, and policy implications of swap agreements, it does not assess their operational efficiency in detail or offer quantitative modelling of exchange rate stability. The key questions guiding this research include how currency swaps contribute to regional financial governance and what geopolitical and economic implications arise from expanding such agreements within Southeast Asia. Using a qualitative and comparative approach, the study draws on policy analysis, institutional reports, and scholarly literature to evaluate the evolution and impact of key swap initiatives. The findings suggest that currency swaps serve as pivotal instruments for enhancing Southeast Asia’s financial resilience, but their success ultimately depends on strong governance, effective policy coordination, and sustained political commitment from member states. The study concludes by suggesting that future research should focus on quantifying the impact of swap agreements on currency volatility, exploring the integration of digital financial frameworks, and examining ASEAN’s evolving role within broader global financial governance networks.
subject: Articles
  topic: section
subject: Currency Swap
  topic: keywords
subject: Financial Governance
  topic: keywords
subject: Southeast Asia
  topic: keywords
subject: Monetary Cooperation
  topic: keywords
subject: Economic Resilience
  topic: keywords
creator: Muh Qodri Syarif Ilham
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-07
publication date: 2025-09-07
starting page: 29
ending page: 43

Reconceptualising Fiscal Policy for Sustainable Mobility: The Role of Government Incentives in Eco-Friendly Vehicle Adoption
type: item
description: This study investigates the role of government fiscal incentives in promoting the adoption of eco-friendly vehicles, exploring how targeted subsidies, tax rebates, and regulatory measures can drive sustainable mobility while reducing environmental impact and supporting national climate goals. Amid escalating climate change concerns and urban congestion, governments face urgent pressure to design effective fiscal policies that accelerate eco-friendly vehicle adoption and reduce carbon emissions. The study focuses primarily on fiscal incentives and policy mechanisms influencing consumer adoption of eco-friendly vehicles, without delving into vehicle manufacturing technologies, private sector innovation strategies, or detailed international policy comparisons in depth. Key questions guiding this research include how government fiscal incentives can accelerate eco-friendly vehicle adoption and what economic and behavioural challenges are associated with these measures. Employing a qualitative approach and exploratory study, the research combines literature review, policy and fiscal frameworks analysis to determine how incentives can effectively promote sustainable transportation choices. Findings suggest that strategically designed fiscal incentives can significantly increase eco-friendly vehicle adoption, although their effectiveness depends on clear policy design, market awareness, and consumer responsiveness. Future research may explore long-term behavioural impacts, integration with public transportation policies, and the role of emerging technologies in supporting sustainable mobility.
subject: Articles
  topic: section
subject: Sustainable Mobility
  topic: keywords
subject: Eco-Friendly Vehicles
  topic: keywords
subject: Fiscal Policy
  topic: keywords
subject: Government Incentives
  topic: keywords
subject: Environmental Policy
  topic: keywords
creator: Intan Marjani
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-10
publication date: 2025-09-10
starting page: 15
ending page: 28

The Role of BRICS Cooperation: A Study on Economics and Geopolitical Impact of Indonesian Membership
type: item
description: This study examines Indonesia’s membership in BRICS, focusing on its economic and geopolitical implications. It explores how cooperation within the BRICS framework can enhance trade, investment, and strategic partnerships, while positioning Indonesia as a key player in regional and global economic governance. With shifting global power dynamics and growing interest in emerging market alliances, understanding Indonesia’s role in BRICS is critical for shaping its economic strategy and geopolitical influence. The study primarily analyses macroeconomic indicators, trade flows, and policy frameworks related to Indonesia’s BRICS engagement, though it does not provide in-depth sectoral case studies or evaluate domestic political implications in detail. Key research questions addressed include how does Indonesia’s BRICS membership affect its trade and investment opportunities? What are the geopolitical benefits and challenges associated with this alliance? Using a qualitative and policy-analytical approach, the study draws on trade data, economic reports, and geopolitical literature. Comparative analysis with other BRICS member states evaluates Indonesia’s strategic positioning and the potential economic and diplomatic outcomes of its engagement. The findings suggest that BRICS membership offers Indonesia significant opportunities for trade expansion, investment inflows, and enhanced geopolitical influence, contingent on effective strategic and diplomatic engagement. Future research may examine sector-specific impacts, regional integration strategies, and Indonesia’s role in shaping BRICS policy frameworks to maximise economic and political benefits.
subject: Articles
  topic: section
subject: BRICS
  topic: keywords
subject: Indonesia
  topic: keywords
subject: Geopolitics
  topic: keywords
subject: Economic Coorporation
  topic: keywords
subject: Emerging Markets
  topic: keywords
creator: Muhammad Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-10
publication date: 2025-09-10
starting page: 1
ending page: 14

Introduction
type: item
subject: EDITORIAL
  topic: section
creator: Muhammad Syauqi Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-09-07
publication date: 2025-09-07
starting page: i
ending page: iii

Digital Payment Shifting in Micro and Small Business: Economic Opportunities and Market Impacts
type: item
description: This study investigates the ongoing shift toward digital payment systems among micro and small businesses (MSBs), focusing on its implications for economic growth and market transformation. As MSBs increasingly adopt digital tools for transactions, the research explores how this trend enhances operational efficiency, broadens customer engagement, and fosters integration into formal financial systems. The urgency of this research stems from the broader national and global push toward digitalisation and inclusive finance. With digital payments playing a central role in financial access and market transparency, understanding their adoption among MSBs is vital to unlocking grassroots economic potential and reducing dependency on informal cash-based systems. Focusing specifically on micro and small enterprises operating in urban and peri-urban areas of Indonesia, the study does not include medium or large businesses, nor does it provide a technical assessment of platform infrastructure. Instead, it seeks to answer two key questions: How does the adoption of digital payments influence the growth and competitiveness of micro and small businesses? And what are the wider market-level effects of digital payment integration among this segment? Employing a qualitative methodology through secondary data set, the research draws from in-depth literature review, transaction data analysis, and reports analysis of fintech service providers. It examines behavioural trends, economic outcomes, and enabling factors such as digital literacy, infrastructure access, and regulatory context. The findings reveal that digital payment adoption can increase revenue, strengthen customer trust, and improve financial accessibility. However, successful integration is contingent on affordability, user confidence, and supportive policy environments. The study concludes by recommending enhanced financial education and targeted support mechanisms to accelerate adoption among underserved groups. Future re…
subject: Articles
  topic: section
subject: Digital Payment
  topic: keywords
subject: Micro Business
  topic: keywords
subject: Small Entreprises
  topic: keywords
subject: Financial Inclusion
  topic: keywords
subject: Market Transformation
  topic: keywords
creator: Ganang Prihatmoko
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: 63
ending page: 79

A Deeper Look into the Indonesian Government's Fiscal Strategies on SMEs
type: item
description: This study examines the Indonesian government's fiscal strategies aimed at strengthening the small and medium-sized enterprises (SMEs) sector. It focuses on how targeted taxation policies, subsidies, and stimulus packages support SME growth, resilience, and integration into national economic development agendas. In the post-pandemic recovery period, SMEs play a crucial role in economic revitalisation. Understanding fiscal interventions is vital to enhance their sustainability, competitiveness, and contribution to inclusive growth in Indonesia. This study concentrates on fiscal tools such as tax relief, credit guarantees, and grants within Indonesia. It does not evaluate monetary policies, informal sector dynamics, or the performance of individual SME sectors. It addresses two central research questions: How do fiscal strategies impact the growth and resilience of Indonesian SMEs? And what are the main challenges in implementing effective fiscal support for this sector? A qualitative research methodology is employed, incorporating policy reviews, stakeholder interviews, and the analysis of government reports. By examining fiscal planning, budget allocations, and implementation outcomes, the study evaluates the coherence of Indonesia’s fiscal approach and its real-world effects across both national and regional levels. Findings suggest that while fiscal strategies have had a positive impact on SME development, several persistent obstacles—such as bureaucratic inefficiencies, unequal access to support, and weak coordination at the local level—undermine their full potential. The study concludes by recommending more inclusive policy mechanisms, simplified administrative procedures, and improved intergovernmental coordination. Future research should explore how fiscal decentralisation affects SME support and examines the gender and sector-specific dimensions of fiscal interventions.
subject: Articles
  topic: section
subject: SMEs
  topic: keywords
subject: Fiscal Policy
  topic: keywords
subject: Economic Development
  topic: keywords
subject: Government Strategy
  topic: keywords
subject: Indonesia
  topic: keywords
creator: Ahmad Abdul Mutalib
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: 48
ending page: 62

Digital Financial Evolution in Oman: Central Bank Roadmap and Its Implications for the Financial Sector
type: item
description: This study investigates the strategic evolution of digital finance in Oman by critically analysing the Central Bank’s digital transformation roadmap. It focuses on how regulatory frameworks, technological innovation, and institutional readiness are converging to reshape the country’s financial sector amidst the growing pressures of a rapidly digitising global economy. As fintech disruption accelerates across the world, Oman’s financial system faces a pivotal moment—making it essential to examine how the Central Bank's vision aligns with practical implementation to ensure resilience and innovation. The scope of this study is limited to the national financial system, particularly commercial banking and digital payment systems under the Central Bank’s oversight. It does not extend to fintech startups operating outside this regulatory framework or to non-financial sectors influenced by digitalisation. The research seeks to answer two primary questions: How is the Central Bank’s roadmap driving digital transformation in Oman’s financial sector? And what are the regulatory and operational implications of this shift? Methodologically, the study adopts a qualitative approach, drawing from policy documents, stakeholder interviews, and institutional reports. It assesses the structural initiatives and legal frameworks that underpin the digital finance agenda, as well as the technological infrastructure enabling its rollout. The findings suggest that the roadmap contributes to enhanced digital resilience and financial innovation, but its success hinges on regulatory flexibility, institutional capacity, and widespread digital literacy across the sector. In conclusion, the study recommends targeted policy reforms and investment in digital infrastructure, alongside coordinated industry training to bridge capacity gaps. Future research should explore the broader social implications of digital finance in Oman, particularly in areas such as financial inclusion, consumer protection, a…
subject: Articles
  topic: section
subject: Digital Finance
  topic: keywords
subject: Oman
  topic: keywords
subject: Central Bank
  topic: keywords
subject: Financial Regulation
  topic: keywords
subject: Fintech
  topic: keywords
creator: Ricky Gigih Prayoga
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: 32
ending page: 47

Regulating Morality and Markets: A Critical Study of Fatwa Issuance Mechanisms in Islamic Economic Practice
type: item
description: This study critically examines the role of fatwa issuance in shaping the moral and regulatory frameworks within Islamic economic practices. It explores how religious authority, particularly through formal fatwa institutions, intersects with market governance, influencing the ethical conduct and operational standards of Islamic financial systems. As Islamic finance experiences global expansion, mechanisms of fatwa issuance are increasingly scrutinised for their transparency, consistency, and ability to adapt to the complexities of modern economies and diverse institutional landscapes. Focusing on selected Muslim-majority countries and transnational contexts, the research investigates the institutional frameworks and administrative processes involved in fatwa issuance. It deliberately avoids theological debate, concentrating instead on the procedural and economic dimensions of religious rulings in financial markets. The study addresses two primary questions: How do fatwa issuance mechanisms influence the governance of Islamic economic practices? And what are the regulatory implications and challenges of institutionalising religious authority in financial markets? Employing a qualitative methodology, the research draws from document analysis, expert interviews, and comparative case studies. It evaluates procedural transparency, structural diversity, and legal pluralism to understand how different jurisdictions balance religious authority with financial regulation. The findings suggest that while fatwa mechanisms help shape market norms and build investor confidence, they often struggle with issues such as institutional fragmentation, lack of standardisation, and limited responsiveness to dynamic economic conditions. The study concludes by recommending more coherent institutional design, improved cross-jurisdictional coordination, and greater procedural transparency. Future research should explore the digitalisation of fatwa processes and its implications for transnatio…
subject: Articles
  topic: section
subject: Fatwa Issuance
  topic: keywords
subject: Islamic Economics
  topic: keywords
subject: Mechanism
  topic: keywords
subject: Morality
  topic: keywords
subject: Market
  topic: keywords
creator: Samhudi Ramli Ahmad
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: 18
ending page: 31

Unveiling the Economic Potential of Islamic Finance in the Philippines: Opportunities and Regulatory Challenges
type: item
description: This study explores the economic potential of Islamic finance in the Philippines, highlighting its promise as an inclusive and ethical financial model. With a significant Muslim population and rising interest in Sharia-compliant financial instruments, the Philippines presents a fertile landscape for the development of Islamic finance. The research is grounded in the urgency of aligning with global movements toward ethical and inclusive finance, particularly in light of the financial exclusion faced by many Muslim communities in the country. Focusing on legal, institutional, and market-based dimensions, the study examines how Islamic finance can be effectively integrated into the Philippine financial system. It addresses two central research questions: How can Islamic finance be integrated into the national financial architecture? And what are the primary regulatory challenges and economic opportunities that shape its implementation? Employing a qualitative methodology, the study draws upon policy analysis, comparative case studies, and literature review to assess institutional readiness and stakeholder engagement. It benchmarks developments in the Philippines against regional and global standards, identifying strategic pathways for growth. The findings suggest that Islamic finance has considerable potential to enhance financial inclusion and stimulate ethical investment, particularly in underserved regions. However, achieving this potential will require significant regulatory reform, capacity-building, and greater public awareness. The study concludes with recommendations for strengthening institutional frameworks, fostering multi-stakeholder collaboration, and investing in education to ensure the long-term viability of Islamic finance in the country. Future research should further investigate the integration of fintech solutions, public awareness campaigns, and harmonisation of Sharia standards to broaden access and improve confidence in Islamic financial services.
subject: Articles
  topic: section
subject: Islamic Finance
  topic: keywords
subject: Interest-Free
  topic: keywords
subject: Banking
  topic: keywords
subject: Investment
  topic: keywords
subject: Philippines
  topic: keywords
creator: Ardelia Vidya Riana
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: 1
ending page: 17

INTRODUCTION
type: item
subject: EDITORIAL
  topic: section
creator: Muhammad Syauqi Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-07-30
publication date: 2025-07-30
starting page: i
ending page: iii

How to Ascertain the Shariah Compliance on the Islamic Financial Product? A Study on Green Sukuk
type: item
description: Amid growing global concerns about sustainability, Islamic finance is emerging as a pivotal player in addressing environmental challenges through Shariah-compliant financial products. Green Sukuk, an innovative Islamic financial instrument, blends ethical investment principles with the urgent need to fund environmentally friendly projects. This article studies the mechanisms to ascertain Shariah compliance in Green Sukuk, exploring their alignment with Islamic jurisprudence and sustainability goals. The research addresses two critical questions: (1) What are the key frameworks and criteria for ensuring Shariah compliance in Green Sukuk? (2) How does adherence to Shariah principles influence investor trust and market acceptance of Green Sukuk? Employing a qualitative methodology through in-depth literature review analyses, the study synthesises insights from case studies, regulatory frameworks, and academic discussions. Findings reveal that Green Sukuk’s success depends on stringent compliance with Islamic principles such as riba (interest) prohibition, gharar (uncertainty) reduction, and ethical investment mandates. Moreover, robust governance structures and stakeholder transparency significantly enhance their credibility and appeal. The study highlights challenges such as the absence of global standardisation for green projects, regulatory discrepancies, and limited data on performance benchmarks. The article advocates for the integration of advanced technologies, like blockchain, to ensure compliance and improve transparency. It also underscores the importance of international collaborations to standardise criteria and promote broader adoption. By providing actionable insights, this research contributes to the evolving discourse on Islamic finance, offering a roadmap to align Shariah principles with global sustainability objectives.
subject: Articles
  topic: section
subject: Green Sukuk
  topic: keywords
subject: Shariah Compliance
  topic: keywords
subject: Islamic Finance
  topic: keywords
subject: Governance
  topic: keywords
subject: Assurance
  topic: keywords
creator: Muhammad Syauqi Bin-Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-01-10
publication date: 2025-01-10
starting page: 55
ending page: 67

Cooperative Insurance in Times of Crisis: A Sustainable Model for Post-Disaster Economic Resilience
type: item
description: In times of crisis, ensuring economic resilience and community stability is paramount, particularly in regions vulnerable to natural disasters. Cooperative insurance, rooted in mutual assistance and shared risk, has emerged as a sustainable model for post-disaster economic recovery. This article studies the potential of cooperative insurance systems to address the gaps left by conventional insurance during crises, focusing on two key research questions: (1) How does cooperative insurance enhance economic resilience in post-disaster recovery? (2) What are the operational challenges and opportunities for scaling cooperative insurance models globally? Using a qualitative methodology, the research employs in-depth literature review analyses of case studies, policy frameworks, and existing cooperative insurance models. The findings highlight that cooperative insurance fosters financial inclusion, encourages community participation, and offers tailored solutions to meet local needs, making it particularly effective in disaster-prone areas. However, operational scalability, regulatory support, and stakeholder engagement remain critical barriers to widespread adoption. By synthesising insights from diverse geographies and socio-economic contexts, this study underscores the importance of policy interventions and cross-sector partnerships in strengthening cooperative insurance frameworks. Recommendations include integrating digital innovations such as blockchain for enhanced transparency, fostering community awareness programmes, and aligning cooperative insurance with broader disaster management strategies. This article contributes actionable insights for policymakers, insurers, and community leaders, advocating for a collaborative approach to build a resilient, inclusive, and sustainable financial safety net.
subject: Articles
  topic: section
subject: Insurance
  topic: keywords
subject: Resilience
  topic: keywords
subject: Recovery
  topic: keywords
subject: Sustainability
  topic: keywords
subject: Inclusion
  topic: keywords
creator: Muhammad Syathiri Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-03-01
publication date: 2025-03-01
starting page: 41
ending page: 54

The Shift to an Interest-Free Economy: Pakistan’s Journey Toward a Fully Islamic Banking System
type: item
description: The transition to an interest-free economy represents a critical economic transformation, reflecting the intersection of Islamic principles and contemporary financial practices. This article studies Pakistan’s pioneering journey toward establishing a fully Islamic banking system, exploring its strategies, challenges, and opportunities. The research addresses two pivotal questions: (1) What policy frameworks and institutional reforms have facilitated the shift to an interest-free banking system in Pakistan? (2) What are the socio-economic implications of this transformation on the financial ecosystem and public trust? Employing a qualitative methodology through in-depth literature review analyses, the study synthesises findings from policy reports, scholarly articles, and regulatory data to evaluate Pakistan’s progress and lessons learned in this ambitious endeavour. The analysis reveals that robust regulatory frameworks, public-private collaboration, and Shariah-compliant financial innovations have significantly advanced the transition. However, critical challenges persist, including ensuring financial inclusion, overcoming operational inefficiencies, and addressing public scepticism. Furthermore, the article examines the role of Islamic banking in enhancing economic equity, reducing financial disparities, and aligning financial practices with ethical principles rooted in Shariah law. Findings emphasise that while Pakistan’s progress offers a blueprint for other economies aspiring to adopt Islamic financial models, sustained commitment to education, technological adaptation, and regulatory coherence is imperative. Recommendations include leveraging fintech solutions for Shariah-compliant services, fostering international collaborations to harmonise standards, and engaging communities to build trust and participation. By aligning modern financial systems with Islamic values, Pakistan’s journey underscores the broader relevance of ethical finance in fostering sustaina…
subject: Articles
  topic: section
subject: Islamic Banking
  topic: keywords
subject: Interest-Free
  topic: keywords
subject: Pakistan
  topic: keywords
subject: Transformation
  topic: keywords
subject: Shariah Compliance
  topic: keywords
creator: Teuku Rafli Azida Putra
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-03-01
publication date: 2025-03-01
starting page: 28
ending page: 40

Farmers’ Protests in Europe: Economic Disruptions and Agricultural Sector Challenges
type: item
description: Farmers’ protests across Europe have emerged as a significant socio-economic phenomenon, raising questions about the sustainability and resilience of the agricultural sector amidst evolving economic and environmental policies. This article studies the economic disruptions and sectoral challenges linked to these protests, focusing on two critical research questions: (1) How do policy changes, such as environmental regulations and subsidy reforms, impact the economic stability of farmers? (2) What are the broader implications of these disruptions for food security and rural livelihoods? Employing a qualitative methodology through in-depth literature review analyses, this research synthesises findings from policy reports, academic studies, and industry publications to uncover the root causes and consequences of the protests. It examines the intersection of economic pressures, regulatory frameworks, and environmental challenges, shedding light on the tensions between sustainability goals and agricultural viability. Findings highlight the adverse effects of policy shifts, including rising production costs, reduced competitiveness, and socio-economic strain on farming communities. Additionally, the study identifies opportunities for adaptive strategies that balance environmental objectives with economic resilience. By addressing these complex dynamics, the article contributes actionable insights for policymakers, industry leaders, and stakeholders striving to foster a sustainable and equitable agricultural future. This research underscores the urgency of reconciling farmers’ economic realities with broader sustainability agendas, offering a framework for collaborative and inclusive agricultural governance.
subject: Articles
  topic: section
subject: Farmers’ Protest
  topic: keywords
subject: Agricultural Sector
  topic: keywords
subject: Economic Disruptions
  topic: keywords
subject: Food Security
  topic: keywords
subject: Sustainability
  topic: keywords
creator: Novadhea Salsabilla Putri
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-03-01
publication date: 2025-03-01
starting page: 15
ending page: 27

Climate Governance in the Financial Industries: Strategies for Sustainable Growth
type: item
description: Climate change poses one of the most pressing challenges for modern financial industries, reshaping strategies and redefining growth paradigms in a rapidly evolving global economy. This article studies the role of climate governance as a transformative mechanism for steering the financial sector toward sustainable development. By examining the intersection of regulatory frameworks, market-based incentives, and organisational strategies, the research evaluates how financial institutions are addressing climate risks and capitalising on green opportunities. Utilising a qualitative methodology, the study synthesises insights from case studies, policy analyses, and literature reviews to identify best practices in aligning financial operations with environmental, social, and governance (ESG) principles. It explores critical questions, including: How can financial institutions integrate climate governance into decision-making processes? What mechanisms can effectively balance profitability with environmental stewardship? Findings reveal that adopting climate-focused governance not only mitigates environmental risks but also enhances stakeholder trust and long-term market resilience. The study also identifies key barriers, such as inconsistent regulations, data deficiencies, and resistance to organisational change, that hinder widespread implementation. Recommendations emphasise the need for robust international collaboration, investment in green technology, and transparent reporting standards to foster accountability. Additionally, the role of financial innovation, such as green bonds and climate-focused investment funds, is highlighted as a critical driver of sustainable growth. By aligning financial strategies with climate governance, this paper offers actionable insights for industry leaders, policymakers, and researchers, contributing to the advancement of a resilient and eco-conscious global financial ecosystem.
subject: Articles
  topic: section
subject: Climate Governance
  topic: keywords
subject: Financial Industries
  topic: keywords
subject: Green Investment
  topic: keywords
subject: Sustainability
  topic: keywords
subject: ESG
  topic: keywords
creator: Awalurramadhana Awalurramadhana
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-03-01
publication date: 2025-03-01
starting page: 1
ending page: 14

INTRODUCTION
type: item
subject: EDITORIAL
  topic: section
creator: Muhammad Syauqi Bin-Armia
rights: Copyright (c) 2025 SUKUK: INTERNATIONAL JOURNAL OF BANKING, FINANCE, MANAGEMENT AND BUSINESS
date: 2025-03-01
publication date: 2025-03-01
starting page: i
ending page: iii