The success of a country’s economic development can be assessed by the extent
to which the Sustainable Development Goals (SDGs) are achieved. However, many
developing countries face challenges in attaining the SDGs, often due to budget
constraints. To overcome these obstacles, the presence of Islamic social finance, also
known as ZISWAF (Zakat, Infaq, Sadaqat, and Waqf), is expected to play a significant
role. Islamic social finance aims to address social and economic issues such as poverty
and income inequality.
This study aims to analyze the role of Islamic social finance (ISF) in the context of the
SDGs. As Islamic social finance adheres to principles that align with the SDGs, it is
essential to investigate whether ISF can support the achievement of the SDGs through
its funding activities. The role of Islamic social finance in relation to the SDGs can be
observed by examining the programs funded by ISF and assessing their alignment with
the SDGs.
The analytical approach employed in this study is descriptive and qualitative, aiming to
explain the role of Islamic social finance in the SDGs. The analysis draws insights from
relevant literature and data, and a conceptual framework is formulated to illustrate the
relationship between Islamic social finance and the SDGs.
The findings highlight the important role of Islamic social finance, including zakat,
in contributing to the achievement of the SDGs. Through several case studies in
various countries, Islamic social finance has demonstrated its potential to support the
attainment of SDGs 1, 2, 3, 4, 8, 9, 11, and 12. These results emphasize the significant
contribution of Islamic social finance in the success of SDGs programs, underscoring
its potential as a tool for achieving the SDGs.