Andrea Delle Foglie and J.S. Keshminder
The main objective of this paper is to analyze works of literature on SRI sukuk to highlight the potential for these kinds of instruments in financing more sustainable financial…
Abstract
Purpose
The main objective of this paper is to analyze works of literature on SRI sukuk to highlight the potential for these kinds of instruments in financing more sustainable financial systems (SFSs). The analysis mainly accentuates a dearth of knowledge on the various challenges and opportunities in the realm of SRI.
Design/methodology/approach
This paper pioneers the bibliometric and systematic literature review of the development of the SRI sukuk from 2016 (the first available year in the field) to and 2021.
Findings
The study findings highlighted several pertinent SRI issues: the lack of standardization due to the different interpretations of Shariah and green, the lack of retail investors, which inevitably produce a lack of liquidity in the secondary market, thus limiting their growth, its funding allocation’ close resemblance to green financing, and the role of Malaysia and Indonesia as global sustainable financial hubs to stimulate the development of Shariah-compliant sustainable instruments and contribute to the international debate about the building of a global standardized framework related to sustainable investments.
Originality/value
The integration of the environmental principles of a green bond with the Shariah-compliant financial structure of a sukuk, the SRI sukuk, represents a vital crossroad in both sustainable and Islamic finance. Social-impact sukuk and green sukuk is an undervalued instrument that could play an important role in financing a more sustainable economic and financial system, including Islamic investing. This kind of instruments, which is based on a “pay for success” principle in the conventional layout, perfectly fit with the profit-and-lost sharing’s (PLS's) ethicality, the sustainability principles of Islamic finance and the religious principles of Islamic law.
Details
Keywords
The study's objectives are to conduct a comprehensive review of existing knowledge, thoroughly understand the present state of green finance, identify emerging research trends…
Abstract
Purpose
The study's objectives are to conduct a comprehensive review of existing knowledge, thoroughly understand the present state of green finance, identify emerging research trends, perform content analysis and offer valuable guidance for advancing this field.
Design/methodology/approach
Data has been collected by selecting highly indexed databases, Scopus and Web of Science. These databases are well-known repositories of academic papers, journals and other scholarly publications related to various fields of study. This research uses the PRISMA methodology for conducting a structured literature review and employs a bibliometric approach to summarize the findings of the previous studies. “R” studio and Biblioshiny are used to clean the data and visualize the results. The TCCM framework is utilized to propose potential avenues for future research in the domain of green finance.
Findings
The research uncovers the potential areas in the domain of green finance for future work, encompassing green bonds, the green economy, connectivity, forces, constraints and sustainable development. Furthermore, this process enhances the theoretical underpinnings of scholarly investigations within the discipline by succinctly synthesizing and evaluating preexisting literature. This contribution could facilitate more informed and focused research endeavors in green finance.
Practical implications
The research findings have practical implications for researchers, practitioners, regulators, legislators, issuers and investors involved in green finance. The results can take initiatives to improve practices related to issuing and pricing green financial products and enhance the understanding of interconnectedness within the field.
Originality/value
This ground-breaking research sheds light on various emerging areas by taking a new approach, including the most widely read articles, authors and journals and the broader conceptual and intellectual framework. That includes finding and expanding original research streams, summarizing the most seminal works, and suggesting new research pathways.
Details
Keywords
This paper aims to investigate the role that Italian third sector organizations have in the process of social and administrative categorization of newly arrived migrants living…
Abstract
Purpose
This paper aims to investigate the role that Italian third sector organizations have in the process of social and administrative categorization of newly arrived migrants living with human immunodeficiency virus/acquired immunodeficiency syndrome (HIV/Aids) or hepatitis b. In Italy, free access to health is provided to all migrants and residence permits for medical treatment is granted for migrants living with a “serious illness” since the 1990s. The case of HIV/Aids and hepatitis b shows how this political openness, however, clashes with the tightening of migration policies.
Design/methodology/approach
The study is based on ethnographic research conducted between 2014 and 2016 within an associative centre that deals with the socio-health care of newly arrived migrants in Rome. In addition to the participant observations, the study is based in semi-structured interviews conducted with 10 health-care providers (nurses, health-care assistants and socio-cultural mediators) and doctors and with 22 migrants coming from Sub-Saharan Africa and living with HIV/AIDS (10) and hepatitis b (12).
Findings
In Italy, the two infections have been identified as top diseases among migrant populations in the country but if HIV/Aids is always considered as a “serious illness”, hepatitis b is considered as a public health priority only in the case of a treatment prescription. These aspects have an important impact on the interactions between medical and social professionals and migrants affected by HIV/AIDS and hepatitis b, contributing differently to the creation of legal categories assigned to migrants.
Originality/value
The case of HIV/Aids and hepatitis b shows how the political openness of the public health system, clashes with the tightening of migration policies and analyse the role of the third sector has in this issue.