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This study aims to examine Islamic banks’ (IBs’) obligations to uphold society’s moral and ethical dimensions. Furthermore, it explores the perspectives of practitioners and Shariah scholars on the role of IBs as agents to advance social and ethical well-being.

Qualitative methodology, with constructivist philosophy, was used. Semi-structured interviews were conducted with Shariah scholars and Islamic banking officials in Pakistan. The thematic analysis uncovered diverse dimensions catering to fulfill the requirements of social and ethical upliftment of society.

The study reveals discrepancies in the perception of IBs’ advisory board members and managers regarding the social responsibilities of IBs. Results show that practitioners of IBs disregard the overall societal welfare upliftment and faith and spiritual upliftment as a responsibility of IBs. However, they consider the inclusiveness, transparency and assurance of Hifz-e-Maal (safeguarding the wealth) among the prime duties of IBs.

This study serves as a call for policymakers, emphasizing that, to achieve the desired social outcomes, it is imperative to address the perceptual inconsistencies among stakeholders of the Islamic financial system.

This study compels policymakers to confront perceptual inconsistencies in Islamic banking, advocating for regulations that guarantee wider societal welfare and spiritual advancement in addition to financial objectives.

This study could help broaden the understanding of the Islamic financial system, particularly the aspects that may hamper getting the desired results of this system.

This study addresses the question of whether Islamic epistemology and ethics advance the understanding and promotion of sustainable development (SD) in the field of Islamic management, economics and finance (IMEF). This study also aims to understand how contemporary ethical theories explain and harmonise Islamic ethics in the context of SD.

This study adopts the PRISMA protocol and conducts a systematic literature review of 62 articles published from 2015 to 2023 to provide answers to four research questions. The selected publications were taken from the Web of Science, Scopus and Google Scholar databases, using the purposive sampling technique, and taking into account the selection criteria of quality, relevance and timeliness of the publications.

Four key findings emerged from the review. Firstly, Islamic epistemology and ethics, drawn from the Qur’an and Hadith, guide practices toward SD. Secondly, Islamic epistemology and ethics promote SD through various initiatives, including ethical behaviour, environmental stewardship, social responsibility, Islamic banking and financing ethics and Islamic social financing principles among others. Third, contemporary ethical theories such as virtue ethics, intentionalism, consequentialism and deontological ethics enrich the application of Islamic ethical foundations in the context of SD. Finally, the theoretical connection between Islamic epistemology, ethics and SD lies in their alignment toward promoting ethical behaviour, social responsibility and holistic ecosystem well-being.

The insights provided by this review offer practical implications for researchers, policymakers and practitioners in IMEF. The insights also underscore the importance of integrating Islamic ethical principles into SD initiatives and policy frameworks.

This novel study offers unique perspectives by integrating contemporary ethical theories with Islamic ethics and epistemology to justify SD in ways that are both theoretically and practically significant. In addition, six novel propositions are suggested for future research in IMEF.

This study aims to investigate the variables influencing halal entrepreneurial behavior among Thai small and medium-sized enterprise entrepreneurs in Phuket, promoting the region as a halal destination.

A quantitative, cross-sectional research design was used, involving a self-administered questionnaire to collect data from Muslim entrepreneurs between February 2024 and May 2024. Thus study achieved a high response rate of 94.37%, with 302 valid surveys analyzed out of 320 participants.

The structural model analysis revealed that local and country policies supporting entrepreneurship did not significantly impact halal entrepreneurial intentions or behaviors. However, entrepreneurial self-efficacy showed a significant positive effect on halal entrepreneurial intentions but not on behaviors. Halal knowledge significantly influenced both halal entrepreneurial intentions and behaviors. In addition, halal entrepreneurial intentions significantly positively impact halal entrepreneurial behaviors. These findings highlight the crucial role of self-efficacy and knowledge in fostering halal entrepreneurship in Phuket, suggesting targeted support to promote the region as a halal destination.

This study provides valuable insights into the factors influencing halal entrepreneurial behavior in Phuket, a region with the potential to become a prominent halal destination. The research suggests targeted support strategies to foster halal entrepreneurship by highlighting the roles of self-efficacy and halal knowledge. The findings contribute to the existing literature by elucidating the nonsignificant impact of policies while reinforcing the significance of personal and knowledge-based factors in entrepreneurial success within the halal context.