SBP in the Context of Islamic Principles and Sharia Compliance: A Systematic Literature Review

Keywords: Sharia Compliance, Sustainable Business Performance, Company Stability, Systematic Literature Review

Abstract

This analysis is based on previous research that focused more on Sharia operational aspects, such as Sharia-based financial products or the Islamic banking system, while the understanding of compliance with Sharia principles in various industry sectors to support Sustainable Business Performance (SBP) is still limited. This study aims to identify, review, and systematize previous research on the impact of compliance with Sharia principles on SBP. The methodology used is a Systematic Literature Review (SLR) with the PRISMA method with a period of 2020-2024. The results of the study show that compliance with Sharia principles has a significant impact on SBP.  Sharia compliance provides an opportunity to build consumer trust, expand access to a wider market, and improve financial resilience and corporate stability, especially through more prudent risk management and the absence of adverse practices.

Downloads

Download data is not yet available.

References

Afandi, A. (2022). Pengaruh Inklusi Perbankan Syariah terhadap Pembiayaan UMKM Halal di Indonesia Periode 2017-2020. Jurnal Manajemen Dan Keuangan, 10(2), 280–291. https://doi.org/10.33059/jmk.v10i2.3868

Ahsan, A. F. M. M., Bose, S., & Ali, M. J. (2024). Does Islamic religiosity influence professional accountants’ judgments? Evidence from global convergence of IFRS. Advances in Accounting, 64, 100723. https://doi.org/10.1016/j.adiac.2023.100723

Al-Daghistani, S. (2022). Beyond Maṣlaḥah: Adab and Islamic Economic Thought. American Journal of Islam and Society, 39(3–4), 57–86. https://doi.org/10.35632/ajis.v39i3-4.2988

Amalia, R. (2024). Pengungkapan Aspek Sosial Sesuai Standar GRI 400 Versus Kepercayaan Pemangku Kepentingan. Akuntansiku, 3(3), 145–156. https://doi.org/10.54957/akuntansiku.v3i3.672

Ayub, M., Hassan, M. K., & Saba, I. (2023). Revisiting the paradigm of Sharīʿah governance of Islamic financial institutions. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-04-2022-0110

Bouzekouk, S., & Mansor, F. (2024). The factors influencing the selection of fund management companies by Malaysian retail investors in the context of islamic unit trust funds. Borsa Istanbul Review. https://doi.org/10.1016/j.bir.2024.06.007

Charina, A. (2024). Kinerja Lingkungan Industri Kecil Agro Di Priangan Timur. Mimbar Agribisnis Jurnal Pemikiran Masyarakat Ilmiah Berwawasan Agribisnis, 10(1), 813. https://doi.org/10.25157/ma.v10i1.12573

Cheong, C. W. H. (2021). Risk, resilience, and Shariah-compliance. Research in International Business and Finance, 55(August 2018), 101313. https://doi.org/10.1016/j.ribaf.2020.101313

Deif, A. M., & Logan, C. (2022). A Values-Based Approach for Development: An Islamic Perspective. Journal of Islamic Ethics, 9(9), 284–310. https://doi.org/10.1163/24685542-12340082

Delle Foglie, A., & Keshminder, J. S. (2024). Challenges and opportunities of SRI sukuk toward financial system sustainability: a bibliometric and systematic literature review. International Journal of Emerging Markets, 19(10), 3202–3225. https://doi.org/10.1108/IJOEM-04-2022-0601

Dr. Iftikhar Alam, & Waqas Ali Haider. (2022). Aspiring Maqāsid-e-Shariah and Socio-Economic Well-Being in Islamic Finance. International Research Journal on Islamic Studies (IRJIS), 4(1), 104–122. https://doi.org/10.54262/irjis.04.01.e07

Dwi Saputra, A., Rahmatia, A., Handari Wahyuningsih, S., & Azhar, A. (2022). Online Business Practices: A Study of Islamic Business Ethics Perspective in Indonesia. Jurnal Penelitian, 9903, 97–108. https://doi.org/10.28918/jupe.v19i1.4614

Elamin, Mustafa Osman, I. (2023). Advancing Ethical and Sustainable Economy: Islamic Finance Solutions for Environmental, Social, & Economic Challenges in the Digital Age. International Journal of Membrane Science and Technology, 10(5), 408–429. https://doi.org/10.15379/ijmst.v10i5.2515

Esya, L. M., Y, E. A., & Parinduri, A. Z. (2021). Pelatihan Memulai Usaha Berdasarkan Prinsip Ekonomi Syariah. Progresif Jurnal Pengabdian Komunitas Pendidikan, 1(2), 87–95. https://doi.org/10.36406/progresif.v1i2.447

Eva Andriani, Mubarok Al Jauhari, M. A., Syovinatus Sholicha, & Arifatul Ma’ani. (2023). Maqashid Sharia, Business Ethics and Sharia Economic Transactions (A Review of the Hadith of the Prophet Muhammad). International Journal of Economics (IJEC), 2(1), 135–142. https://doi.org/10.55299/ijec.v2i1.427

Gautama, B. (2023). Akuntansi Berkelanjutan Pada Umkm: Pemahaman Atas Laporan Keberlanjutan. Jurnal Riset Akuntansi Aksioma, 22(2), 256–269. https://doi.org/10.29303/aksioma.v22i2.244

Gion, E. I. P. Dela, & Kustiningsih, N. (2022). Peranan Perbankan Syariah Terhadap Ekonomi Melalui Pembiayaan Modal Kerja Umkm Pada Bank Syariah Indonesia Periode 2017-2019. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 3(1), 395–405. https://doi.org/10.46306/rev.v3i1.107

Haerunnisa, H., Sugitanata, A., & Karimullah, S. S. (2023). Analisis Strukturalisme Terhadap Peran Katalisator Instrumen Keuangan Syariah dalam Mendorong Pembangunan Berkelanjutan dan Tanggung Jawab Sosial. Al-’Aqdu: Journal of Islamic Economics Law, 3(2), 124. https://doi.org/10.30984/ajiel.v3i2.2853

Hartono, N. (2018). Analisis Pengaruh Islamic Corporate Governance (ICG) Dan Intellectual Capital (IC) Terhadap Maqashid Syariah Indeks (MSI) Pada Perbankan Syariah Di Indonesia. Al-Amwal Jurnal Ekonomi Dan Perbankan Syari Ah, 10(2), 259. https://doi.org/10.24235/amwal.v10i2.3249

Kartikasari, D. (2023). Financial Performance: Sustainability, Size, Sharia, and Sector Effects in Muslim-Minority Stock Exchanges. Journal of Islamic Monetary Economics and Finance, 9(4), 751–776. https://doi.org/10.21098/jimf.v9i4.1765

Kashi, A., Laallam, A., Mansour Nomran, N., Azmi Abumughli, A., & Al-Binali, T. (2024). Do institutional environment and corporate governance structures determine Islamic Banks’ sustainability performance? Evidence across key jurisdictions in Islamic finance industry. Borsa Istanbul Review. https://doi.org/10.1016/j.bir.2024.06.005

Katmas, E., Faizah, N., & Wulandari, A. (2022). Pengaruh Penerapan Etika Bisnis Islam Terhadap Kinerja Usaha Mikro Kecil Dan Menengah. Jurnal Asy-Syukriyyah, 23(1), 22–35. https://doi.org/10.36769/asy.v23i1.212

Leena Haniffah, N., Sharaf Shaiban, M., & Ahmed, P. (2023). Development and validation of a performance measurement system based on Islamic principles. Heliyon, 9(5), e16095. https://doi.org/10.1016/j.heliyon.2023.e16095

Lestari, S. N. (2018). Peran Perusahaan Melaksanakan Tanggung Jawab Sosial Perusahaan Sebagai Upaya Pengentasan Kemiskinan Di Indonesia. Masalah-Masalah Hukum, 46(1), 80. https://doi.org/10.14710/mmh.46.1.2017.80-91

Maharani, M., Isnaini, D., & Nurhab, B. (2023). Tinjauan Ekonomi Islam Terhadap Kelayakan Bisnis Perkreditan Pada UD. Mentari Kredit Kota Bengkulu. Jurnal Ilmiah Akuntansi, Manajemen Dan Ekonomi Islam (JAM-EKIS), 6(2), 383–394. https://doi.org/10.36085/jamekis.v6i2.5451

Majid, R.-. (2021). Mudharabah Linked Waqf: Inovasi Model Pembiayaan Berkelanjutan untuk UMKM. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 3(1), 102–118. https://doi.org/10.47467/alkharaj.v3i1.267

Maulana, M. I. (2023). Pengaruh Litersi Keuangan Dan Literasi Digital Terhadap Keberlanjutan Bisnis Pelaku Umkm Berbasis Syariah. Jurnal Ilmiah Ekonomi Islam, 9(3), 4256. https://doi.org/10.29040/jiei.v9i3.10856

Mukhibad, H., Nurkhin, A., Anisykurlillah, I., Fachrurrozie, F., & Jayanto, P. Y. (2023). Open innovation in shariah compliance in Islamic banks – Does shariah supervisory board attributes matter? Journal of Open Innovation: Technology, Market, and Complexity, 9(1), 100014. https://doi.org/10.1016/j.joitmc.2023.100014

Mulyani, H. T. S. (2022). Implementasi Kesesuaian Standar Gri Dalam Sustainability Report Pada Perusahaan Sektor Mineral Di Bei Tahun 2020. Ijab Indonesian Journal of Accounting and Business, 3(2), 90–99. https://doi.org/10.33019/ijab.v3i2.26

Mustaqim, D. A. (2023). Prinsip Syariah Dalam Operasional Online Shop : Analisis Fatwa DSN-MUI No. 146/DSN-Mui/Ix/2021. Ab-Joiec, 1(1), 1–13. https://doi.org/10.61553/abjoiec.v1i1.9

Okumuş, H. Ş. (2024). Performance assessment of participation banks based on Maqasid al-Shari’ah framework: Evidence from Türkiye. Borsa Istanbul Review, 24(4), 806–817. https://doi.org/10.1016/j.bir.2024.04.011

Ozdemir, M., Savasan, F., & Ulev, S. (2023). Leveraging financial inclusion through Islamic microfinance: A new model proposal for participation banks in Turkiye. Borsa Istanbul Review, 23(3), 709–722. https://doi.org/10.1016/j.bir.2023.01.011

Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-Wilson, E., McDonald, S., … Moher, D. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. International Journal of Surgery, 88, 105906. https://doi.org/10.1016/j.ijsu.2021.105906

Pratama, G., Yasin, M. M., Rokhmatulah, L., & Atikah, N. (2023). Penerapan Prinsip-Prinsip Ekonomi Abu Yusuf Dalam Praktik Bisnis Dan Keuangan Modern. Jurnal Multidisiplin Indonesia, 2(8), 1975–1983. https://doi.org/10.58344/jmi.v2i8.403

Putri, S. H. (2023). Analisis Kinerja Lingkungan Unit Bisnis Teh Hijau Perusahaan X Dengan Metode IEPMS Dan LCA. Jurnal Teknotan, 17(2), 143. https://doi.org/10.24198/jtvol17n2.9

Rabbani, M. R., Bashar, A., Nawaz, N., Karim, S., Ali, M. A. M., Rahiman, H. U., & Alam, M. S. (2021). Exploring the role of islamic fintech in combating the aftershocks of covid-19: The open social innovation of the islamic financial system. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 136. https://doi.org/10.3390/joitmc7020136

Rethlefsen, M. L., & Page, M. J. (2021). PRISMA 2020 and PRISMA-S: common questions on tracking records and the flow diagram. Journal of the Medical Library Association, 110(2). https://doi.org/10.5195/jmla.2022.1449

Riski, W., Maulana, I., & Mujibno, M. (2023). Kompensasi Dan Tunjangan Dalam Perspektif Manajemen Syariah: Upaya Meningkatkan Keadilan. AB-JOIEC: Al-Bahjah Journal of Islamic Economics, 1(2), 68–77. https://doi.org/10.61553/abjoiec.v1i2.35

Rosano, F. (2023). Pengaruh Daya Saing Daerah, Tingkat Upah, Teknologi, Dan Pertumbuhan Ekonomi Terhadap Investasi Pada 27 Provinsi Di Indonesia Tahun 2021. -Bus. Econ. Entrepre., 6(2), 150. https://doi.org/10.61689/bisecer.v6i2.429

Simanjuntak, I., & Lubis, F. A. (2022). Interest of the Sharia Insurance Community in Prudential Syariah Binjai. Jurnal Ekonomi, Manajemen, Akuntansi Dan Keuangan, 3(3). https://doi.org/10.53697/emak.v3i3.607

Siswantoro, S. (2022). Cash Waqf Linked Sukuk model for export micro, small, and medium enterprises financing affected by Covid-19 pandemic: Indonesian study. Asian Management and Business Review, 2(1), 24–38. https://doi.org/10.20885/ambr.vol2.iss1.art3

Solehudin, E., Ahyani, H., & Putra, H. M. (2024). Study on Sharia Compliance Principles in Halal Tourism Business in Bandung Regency: An Implementation of Islamic Business Ethics Principles (Professional Ethics). Millah: Journal of Religious Studies, 23(1), 39–66. https://doi.org/10.20885/millah.vol23.iss1.art2

Sri Noerhidajati, & Fahruroji. (2023). Pengelolaan Wakaf Uang : Usulan Skema Pembiayaan Usaha Mikro, Kecil dan Menengah. Syarikat: Jurnal Rumpun Ekonomi Syariah, 6(1), 74–90. https://doi.org/10.25299/syarikat.2023.vol6(1).10691

Sumiyati, Y. (2023). Pengaturan CSR Dalam Rangka Percepatan Pembangunan Sosial Dan Lingkungan Di Indonesia. Anterior Jurnal, 22(3), 185–196. https://doi.org/10.33084/anterior.v22i3.5310

Supriyatni, R., & Nurjamil. (2021). The Urgency of Handling Non-Performing Financing in Sharia Banks in the Development of Indonesian Sharia Economics. Padjadjaran Jurnal Ilmu Hukum, 8(1), 26 – 46.

Suretno, S., & Bustam, B. (2020). Peran Bank Syariah Dalam Meningkatkan Perekonomian Nasional Melalui Pembiayaan Modal Kerja Pada UMKM. Ad-Deenar: Jurnal Ekonomi Dan Bisnis Islam, 4(01), 1. https://doi.org/10.30868/ad.v4i01.752

Toha, Mohamad & Habibah, N.J. (2023). MSME Empowerment and Development Program to Increase Consumer Satisfaction. Sahwahita: Community Engagement Journal, 1(1), 26-39. https://e-journal.bustanul-ulum.id/index.php/Sahwahita/article/view/24

Vu-Ngoc, H., Elawady, S. S., Mehyar, G. M., Abdelhamid, A. H., Mattar, O. M., Halhouli, O., Vuong, N. L., Ali, C. D. M., Hassan, U. H., Kien, N. D., Hirayama, K., & Huy, N. T. (2018). Quality of flow diagram in systematic review and/or meta-analysis. PLOS ONE, 13(6), e0195955. https://doi.org/10.1371/journal.pone.0195955

Yesuf, A. J., & Aassouli, D. (2020). Exploring synergies and performance evaluation between Islamic funds and socially responsible investment (SRIs) in light of the Sustainable Development Goals (SDGs). Heliyon, 6(8), e04562. https://doi.org/10.1016/j.heliyon.2020.e04562

Zulfiani, S. M. I. U., Muthoifin, & Rosyadi, I. (2024). Corporate Social Responsibility (Csr) Practices of Shariaconsumer Cooperatives for Sustainable Development Goals(Sdgs) Ethical Perspective. Journal of Lifestyle and SDG’S Review, 4(1), 1–20. https://doi.org/10.47172/2965-730X.SDGsReview.v4.n00.pe01752

Published
2025-02-01
How to Cite
Latifannisa, N., Rahmi, Y., & Afdal, Z. (2025). SBP in the Context of Islamic Principles and Sharia Compliance: A Systematic Literature Review. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 8(1), 2183-2201. https://doi.org/10.31538/iijse.v8i1.6116