1st Edition

Islamic Green Finance Towards Ethical and Environmentally Responsible Investing

Edited By Edib Smolo, Muhammad Omer Rafique Copyright 2026
350 Pages 59 B/W Illustrations
by Routledge

350 Pages 59 B/W Illustrations
by Routledge

Green Islamic finance is a growing field that combines Islamic investment principles with environmental responsibility. This book explores the potential of this concept to address climate change and promote sustainable development. It examines various aspects of green Islamic finance, including Shari’ah-compliant financial instruments for renewable energy projects, green businesses, and... Read more

List of Figures

List of Tables

About the Editors

List of Contributors

Preface

Acknowledgments

            Part 1: Introduction    

1.       Islamic Green Finance: A Marriage of Ethics and Environmental Responsibility in light of Maqasid al-Shari’ah            Dr. Muhammad Omer Rafique

                        Khawaja Masood Raza

            Part 2: Foundations of Islamic Green Finance

2.       Shari’ah Compliance Framework for Islamic Green Finance      

Dr. Muhamad Azhari Wahid

3.       The Role of Islamic Financial Institutions in Promoting Green Initiatives and SDGs

Shahida Shahimi

Siti Aisyah Zahari

4.       Financing Sustainability through Meezan Concept: An Islamic Economics Perspective    

Dr. Mohamed Aslam Akbar

Anaztasia Natasha Muhamad Ramlan

Dr. Edib Smolo

            Part 3: Enabling Green Growth          

5.       Green Policy Frameworks: Fostering Growth through Government Intervention  

Dr. Nor Razinah Binti Mohd. Zain

Dr. Raja Madihah Raja Alias

Dato’ Dr. Ng See Teong

Faisal Ahmadi

6.       Technological Innovation and Green Fintech: Blockchain, Crowdfunding, and AI for Green Finance        

Issa Hamadou

Ali Haruna

7.       From Esham to Perpetual Green Sukuk: A Framework for Sustainable Islamic Finance    

Dr. Khairunnisa Musari

Dr. Edib Smolo

8.       Sukuk and Sustainable Finance: A Review of Literature and Future Directions

Mohamad Handi Khalifah

Hakan Aslan

9.       Sustainable Development Financing in Indonesia Through Sukuk

Arif Budimanta

10.   Green Sukuk: Leveraging Islamic Finance for Ecological Sustainability 

Dr. Mohammad Mahbubi Ali

Aam Slamet Rusydiana

Aisyah As-Salafiyah

            Part 4: Challenges and Opportunities  

11.   The impact of Environmental, social and governance practices on Shariah compliant firms during COVID-19: A comparative study       

Ichrak Dridi

Olfa Ben Mdalla

12.   Incorporating ESG factors in Islamic banking practices  

Dr. Admir Meskovic

Dr. Emira Kozarevic

Dr. Alija Avdukic

            Part 5: Measuring Impact and Future Directions        

13.   Role of Islamic Capital Market in Developing Green Islamic Finance: A Critical Analysis of Green Sukuk Legal Framework in Malaysia

Roslina Mohamad Shafi

Edib Smolo

14.   Contributing to the Sustainable Development Goals: The Potential of Green Islamic Finance

Rodame Monitorir Napitupulu

Dr. Aam Slamet Rusydiana

15.   Islamic Green Finance And Sustainable Development Goals: A Maqasid Al-Shari’ah Perspective 

Abdulkadri Toyin Alabi

Issa Saheed Olanrewaju

Abdulbaki Teniola Ubandawaki

Index

Biography

Edib Smolo is an Associate Professor and former Chair of the Finance Department and Director of the Master of Science in Finance program at Effat University, Jeddah, Saudi Arabia.

Mohammed Omer Rafique is an Assistant Professor of Islamic Finance and Management Sciences at SZABIST University.