Abstract
This study introduces a novel framework for Islamic entrepreneurship, emphasizing inclusiveness and sustainable growth through an analysis of research trends spanning 34 years. Using bibliometric analysis via R Studio, the research examines 354 articles from the Scopus database, covering the period from January 1, 1990, to May 8, 2024. The findings reveal a significant rise in scholarly interest, particularly in digitalization and global socio-economic inequalities. Key insights include the transformative potential of digital Islamic entrepreneurship, the strategic use of diverse Islamic social financial mechanisms, the prioritization of Islamic entrepreneurial education, and the promotion of Islamic women entrepreneurship. Additionally, the study highlights the importance of Islamic community-based entrepreneurship for social impact. These insights underscore the need for policies fostering inclusivity and sustainability in Islamic entrepreneurship. Practical implications suggest this framework serves as a valuable strategy for policymakers in Muslim-majority countries to support economic development. Socially, this approach can create an enabling environment for Islamic entrepreneurship, contributing to broader societal welfare. By addressing these aspects, the study advances the discourse on the pivotal role of Islamic entrepreneurship in promoting economic inclusivity and sustainability. This research offers original value by framing Islamic entrepreneurship as a catalyst for comprehensive growth.
Plain Language Summary
This research looks at how Islamic values shape entrepreneurship and how it can help people and communities grow fairly and sustainably. The authors studied 354 articles published over 34 years using a method called bibliometric analysis. This method helps track trends and patterns in academic writing. The study found that Islamic entrepreneurship is becoming more popular, especially in digital business, women leadership, community support, and education. The researchers also noticed that many Muslim entrepreneurs still face challenges with access to technology, finance, and training. To help address this, the study proposes a new framework with five focus areas: digital transformation, Islamic financial support for small businesses, education in entrepreneurship, empowering women entrepreneurs, and community-based business. These areas are all rooted in Islamic values like trust, honesty, fairness, and social good. The study is helpful for governments, educators, and business support groups in Muslim-majority countries. It gives them clear ideas to improve policies and programs that support Islamic entrepreneurs. The goal is to build a future where businesses not only grow, but also create benefits for society and the environment.
Introduction
Religious-based entrepreneurship or religious entrepreneurship fundamentally prioritizes religious values, as the foundation of entrepreneurship (Gomez-Perez & Jourde, 2021; Manaf et al., 2015). Meanwhile, in the context of Muslim world, it is now known as Islamic entrepreneurship, which the foundation of Islamic entrepreneurship is deeply rooted in Islamic principles, which can be found in Quranic passages that interpret and encourage entrepreneurship, such as in Surah Al-Jumu’ah (62:10): “When the prayers are ended, disperse and go in quest of Allah’s bounty.”
Islamic entrepreneurship, also known as Muslim entrepreneurship, follows Islamic law that prohibits immoral, unjust business practices (Ashraf, 2019), and reduces activities that can harm society (Ramadani et al., 2016). Islamic entrepreneurship is gaining attention in business studies as culture and religion increasingly shape global business relationships (Ramadani et al., 2015).
Moreover, Islamic entrepreneurship has the potential to promote inclusiveness and sustainable growth through poverty reduction and inclusive economic development by providing financial services to underserved communities (Anwar et al., 2023; Ayub et al., 2024; Islam, 2022; Kachkar & Alfares, 2022). It has contributed significantly to social welfare in Muslim-majority countries (Alam, 2018; Maulina et al., 2023; Muin et al., 2022; Retsikas, 2017; Zaki et al., 2020) and promotes environmental sustainability (Hamid et al., 2024; Kasim et al., 2024; Salaheldeen et al., 2023). It prioritizes community development (Ayub et al., 2024; Hagawe et al., 2023; Ishak & Mohammad Nasir, 2024; Kirby et al., 2022; Md Saad et al., 2022; Parwez, 2017; Priyadi & Achiria, 2022; Syafiq Humaisi et al., 2019; Tok & Kaminski, 2019), Islamic entrepreneurship supports broad economic development while aligning with Maqasid al-Shariah, which upholds faith, life, intellect, wealth, and lineage through ethical conduct (Javaid, 2022).
Moreover, research on Islamic entrepreneurship is still in its early stages and requires further in-depth exploration across various emerging issues (Hilaluddin et al., 2024). Studies on Islamic entrepreneurship have primarily focused on concept or theoretical development (Ashraf, 2019; Gümüsay, 2015; M. K. Hassan & Hippler III, 2014; Ramadani et al., 2015; Ramadani et al., 2016). In contrast, some empirical studies have begun to emerge, primarily exploring behavioral intentions in building a halal ecosystem (Raimi et al., 2025) either from the perspective of muslim entrepreneurs (Hussain et al., 2023; Raza et al., 2023) and consumers (Ashraf, 2021; Khan et al., 2024; Pusparini et al., 2025; Riofita, 2025; Ukil et al., 2024).
In addition, the discussion on Muslim entrepreneurship has been explored using a Systematic Literature Review (SLR) approach (Y. Hassan, 2022), including efforts to create a strong halal ecosystem through halal entrepreneurship and Islamic finance (Raimi et al., 2025). Previous bibliometric studies have examined specific topics such as the relationship between religion and entrepreneurship (Block et al., 2020); women Muslim entrepreneurs (Hendrayati et al., 2025); and asnaf entrepreneurs (zakat recipients; Bahri et al., 2022). The advantages of bibliometric analysis are that it is an essential tool for advancing research, as it helps map the current literature and identify future research directions, particularly within the business domain (Donthu et al., 2021). Despite these contributions, there is still no research proposing a robust and resilient global framework for Islamic entrepreneurship through a comprehensive bibliometric analysis based on the Scopus database in recent years. The Scopus database is known as one of the largest and most credible scientific publication platforms (Bellido-Valdiviezo et al., 2023; Boateng et al., 2024), and it allows for the automatic export of literature for bibliometric analysis (Alshater, Saad, et al., 2021). Furthermore, most of the Web of Science (WoS) literature is also indexed in Scopus. Therefore, this study focuses solely on the Scopus database as the primary source of literature. This focus addresses a significant gap, as such an analysis is crucial for guiding policymakers in enhancing Islamic entrepreneurship’s role in achieving Maqasid al-Shariah’s objectives.
Therefore, this study specifically aims to address the following research inquiries to clarify the trajectory of previous investigations into Islamic entrepreneurship in the context of its global development toward inclusivity and sustainability:
The paper is structured as follows: “Literature Review,” presents a comprehensive review of existing literature on Islamic entrepreneurship. “Methods,” employs the methodology, including bibliometric analysis and utilization. The “Results” discusses the findings from addressing the research questions, and “Discussion,” outlines lessons learned and potential avenues for future research. The “Conclusion” summarizes the study’s contributions, acknowledges its limitations, and suggests future research directions. Lastly, “Implications,” offers actionable insights for policymakers based on the study findings.
Literature Review
Classical Entrepreneurship Theory
Schumpeter’s theory of entrepreneurship marked a significant turning point in understanding entrepreneurship (Schumpeter, 1949). Unlike earlier views that focused mainly on setting up and running businesses—a more static perspective—Schumpeter emphasized entrepreneurship as a dynamic and innovative force driving economic development (Aitken, 1965). His classic work, The Theory of Economic Development, introduced the idea of the entrepreneur as an agent of “creative destruction,” someone who introduces new combinations that disrupt the status quo and stimulate progress (Mehmood et al., 2019; Śledzik, 2013; Ziemnowicz, 2020). Schumpeter also highlighted the importance of being alert to opportunities and market changes, a concept further enriched by Kirzner’s view of entrepreneurial alertness. Together, Schumpeterian and Kirznerian theories provide a strong foundation for understanding social entrepreneurship, which involves using innovative approaches to address social issues (Shockley & Frank, 2011). Furthermore, the key aspects of this perspective include distinguishing entrepreneurship from leadership or management, recognizing its role across different contexts, and emphasizing the process over individual traits. These combined insights show that entrepreneurship today is viewed through an interdisciplinary lens, connecting classical economic thought with modern challenges like sustainability and social impact. Entrepreneurship, therefore, is a tool for economic growth and a means to create meaningful social and environmental change.
While Schumpeter and Kirzner provide valuable insights into the dynamics of innovation and alertness, their theories remain largely rooted in secular economic rationales that prioritize growth and market efficiency. Islamic entrepreneurship, by contrast, intersects with these classical views but extends them by embedding ethical, spiritual, and social dimensions into entrepreneurial activity. For instance, Schumpeter’s “creative destruction” finds resonance in the innovative drive of Muslim entrepreneurs, yet in Islamic contexts this innovation is bounded by Shariah principles that prohibit harm (darar) and encourage fairness (adl). Similarly, Kirzner’s concept of alertness aligns with the Islamic trait of fathonah (strategic intelligence), though in Islam this alertness is not limited to profit-seeking opportunities but also includes avenues for social welfare and environmental stewardship. This synthesis highlights both points of convergence and divergence, creating a conceptual space where classical economic theories can be reinterpreted and expanded through the lens of Islamic values.
The Concept of Islamic Entrepreneurship
Islam is often seen as a religion that encourages entrepreneurship (Y. Hassan, 2022). Scholars note Islam supports responsible risk-taking, teamwork, and innovation (Ashraf, 2019). Khadija, the Prophet’s wife, exemplifies Islamic business values. Muslim entrepreneurs are guided by five key traits—Fathonah, Amanah, Siddiq, Tabligh, and Istiqomah—rooted in Islamic teachings (Anggadwita et al., 2017). While Islamic and social entrepreneurship may seem similar, they differ in their foundations—social entrepreneurship is driven by philanthropy and societal needs. In contrast, Islamic entrepreneurship is rooted in Islamic teachings and theology (Y. Hassan, 2022). Furthermore, there are two main types of Islamic entrepreneurship: businesses run by Muslims and businesses aimed at the Islamic market, and both must follow Islamic rules based on the Quran (Carneiro-Da-Cunha et al., 2015). Muslim entrepreneurs must avoid gambling, usury, and speculation, integrating faith with business to achieve community service, ethical conduct, and falah in this life and the hereafter (Kayed & Hassan, 2010a).
Islamic morals and ethical values play a crucial role in supporting the entrepreneurial process, influencing areas such as entrepreneurial behavior, business management, marketing, fundraising, and resource utilization (Elfakhani & Ahmed, 2013). Therefore, Islamic entrepreneurship represents a form of ethical entrepreneurship, where Muslim entrepreneurs are expected to operate halal businesses by Shariah principles, offering halal products and services as a reflection of their ethical foundation and economic potential (Raimi et al., 2025). This drives the global trend of halal branding (Noor, 2025; Wilson, 2018). Only halal entrepreneurs who can offer trustworthy products or services can meet this growing demand—trust typically built over time through a strong organizational reputation, not achieved overnight (Carneiro-Da-Cunha et al., 2015).
Implementing Islamic entrepreneurship is crucial for large companies running halal businesses and micro, small, and medium-sized enterprises (MSMEs; Ramadani et al., 2015). MSMEs must strengthen their application in their business operations, as it can influence Muslim customers to recommend products to others, make repeat purchases, pay premium prices, increase their spending, and remain loyal (Riofita, 2025). MSMEs have proven to play a vital role in the Islamic economic system (Machmud & Hidayat, 2020). Therefore, companies or MSMEs that apply the concept of Islamic entrepreneurship can enhance their reputation within the community.
Islamic entrepreneurship parallels Schumpeter’s focus on innovation through fathonah but differs by restricting innovation within ethical and Shariah boundaries. Similarly, Kirzner’s notion of alertness resonates with the entrepreneurial vigilance required of Muslim entrepreneurs, but within Islam this vigilance extends beyond market opportunities to include responsibility for community well-being and environmental stewardship. In contrast to the individualistic orientation of much classical entrepreneurship theory, Islamic entrepreneurship integrates collective values through mechanisms such as zakat, waqf, and profit-sharing, ensuring that entrepreneurial success contributes to societal welfare. This comparative synthesis demonstrates that Islamic entrepreneurship does not merely replicate classical theories in a religious context but expands them by embedding moral, spiritual, and sustainability dimensions, thereby offering a more holistic framework for entrepreneurial practice.
Previous Studies
Research on Islamic entrepreneurship is limited, with few studies—such as SLRs from 2009 to 2019—offering conceptual or operational frameworks in management literature (Y. Hassan, 2022). A 2016 to 2020 review found 88 studies, mostly quantitative, confirming Islamic entrepreneurship remains under-researched and requires diverse approaches to fill knowledge gaps (Hilaluddin et al., 2024).
An SLR and bibliometric study (2000–2020) on Ansaf entrepreneurship identified four success dimensions: life improvement, financial and non-financial performance, and Maqasid al-Shariah (Bahri et al., 2022). Another study A bibliometric analysis of 270 articles on religion and entrepreneurship identified five themes: women and social entrepreneurship; religiosity and values; ethnicity and community; culture and social capital; and microfinance with economic development (Block et al., 2020). Still related to entrepreneurship literature studies, researchers examined 107 papers related to Arab female entrepreneurship, where the contribution of Arab universities to this topic is minimal. This implies that studies in Islamic economics and finance in the Arab world are promising and have the potential for more comprehensive examination (Al-Attari et al., 2024).
Drawing from prior research, it is evident that no scholarly work has yet proposed a comprehensive framework to support a robust and resilient global Islamic entrepreneurship. Hence, this study is pioneering, presenting the first bibliometric analysis focused explicitly on “Islamic entrepreneurship.” This research provides in-depth insights into the field’s evolution, trends, and gaps by examining the full range of relevant publications in the most recent Scopus database. Importantly, it offers evidence-based recommendations for policymakers to strengthen Islamic entrepreneurship’s role in promoting inclusivity, enhancing economic resilience, and fostering sustainable development aligned with the objectives of Maqasid al-Shariah.
Methodology
This study has opted for the online Scopus database spanning from the first published English document in 1990 to May 8, 2024, for its investigation into Islamic entrepreneurship, encompassing 354 papers. Therefore, this study is of utmost importance as it complements existing research. This study uses the search string “(TITLE-ABS-KEY (Islamic AND entrepreneurship)”. Scopus database was chosen due to its status as the world’s largest citation and abstract repository of scholarly works, sourced from international publishers, offering a comprehensive platform for academic scholars (Alshater, Hassan, et al., 2021; M. K. Hassan et al., 2021; M. K. Hassan et al., 2023; Kumar & Yadav, 2022; Napitupulu & Sukmana, 2023; Patel et al., 2022; Sukmana, 2020; Walker et al., 2023; Yusuf et al., 2021). This study does not utilize other databases such as Web of Science (WOS) because most of its articles are already accessible through Scopus, and the remaining databases lack support for automatic data export required for bibliometric analysis (Alshater, Saad, et al., 2021). Then, document analysis using Bibliometrix R Studio (Aria & Cuccurullo, 2017) and VoSviewer (N. Van Eck & Waltman, 2010). The framework for bibliometric analysis can be seen in Figure 1.
Bibliometric analysis of framework.
The study is structured into two components to address the research questions: descriptive analysis and network analysis (Kafi et al., 2023). The descriptive analysis aims to answer RQ1 to RQ3, while the network analysis addresses RQ4. In addition, RQ5 and RQ6 are responded to through a combination of descriptive analysis, network analysis, and a comprehensive content analysis of the literature (M. K. Hassan et al., 2021; M. K. Hassan et al., 2023).
Results
Descriptive Analysis
Table 1 presents crucial information on publication trends. It indicates an increase in the number of publications over the study period, along with insights into country distributions and author collaborations.
Primary Data Regarding Trends in Publishing.
Source. Authors’ compilation using the Bibliometrix R package.
Publishing Pattern
Annual publications on Islamic entrepreneurship surged between 2021 and 2023, rising from 26 to 45 papers, making 2023 the most productive year. More details can be seen in Figure 2.
Article development trends.
Meanwhile, the period from 1990 to 2001 represents the phase with the lowest number of publications on Islamic entrepreneurship, totaling only 10 articles (see Table 2). Among these 10 articles, the most cited ones discuss topics related to history and political issues, where the resurgence of Islam indicates the failure of modernity due to private entrepreneurship exacerbating disparities and unemployment (Tlemcani, 1990). The term “Islamic entrepreneurship” began to be studied only in 2006, focusing on understanding how Islamic entrepreneurship practices in Turkey emerged by examining the relationship between Islam and the economy (Adas, 2006). The first comprehensive article focusing on Islamic entrepreneurship was published in 2010, where a case study of entrepreneurs in Saudi Arabia highlighted their perception of themselves as committed Muslims who view entrepreneurship as a religious and economic obligation aimed at attaining halal (permissible according to Shariah) income to fulfill their financial commitments and contribute to the falah (well-being) of the Muslim community in both this life and the hereafter (Kayed & Hassan, 2010b).
Trends in Annual Publications.
Source. Authors’ Analysis using Bibliometrix R Studio.
Note. TD = Total Documents; TC/D = Total Citations per Document; TC/Y = Total Citations per Year.
Most Influential Authors
We analyze the number of publications, citations, and h-index to identify influential authors in Islamic entrepreneurship research. Analyzing in-text citations is a common method for evaluating research (Iqbal et al., 2021). Additionally, citations can reflect the influence or impact of a publication (Tsay, 2009). From 1990 to 2024, 749 authors have contributed to Islamic entrepreneurship research. Table 3 shows the 20 most productive authors, with Ramadani, V., having the highest number of publications—10 publications, 371 total citations, and an h-index of 8 in this field. The results also highlight Raten, V., and Dana, L-P as other leading authors in Islamic entrepreneurship.
Most Influential Authors in the Islamic Entrepreneurship Scope.
Source. Authors’ Analysis using Bibliometrix R Studio.
Note. h = h index; g = g index; m = m index; TC = Total Citations; NP = Number of Papers; PY = Year of first Publication.
Most Cited Documents
Table 4 presents the associated information (authors, article titles, total citations, and citations per year) for the top 10 most productive journals. The article “Evidence of the characteristics of women entrepreneurs in the Kingdom of Saudi Arabia: An empirical investigation” received 146 total citations and averaged 12.00 per year. This is followed by “How Islamic Business Ethics Impact Women Entrepreneurs: Insights from Four Arab Middle Eastern Countries” with 134 total citations and 13.40 citations per year, and “Entrepreneurship from an Islamic Perspective” with 129 total citations and 12.90 citations per year. The leading journals in Islamic entrepreneurship studies include the International Journal of Gender and Entrepreneurship and the Journal of Business Ethics, ranked in Quartile 1 according to the Scopus database. Other notable journals are the International Journal of Business and Globalisation, Journal for Cultural Research, International Small Business Journal, Princeton University Press (book publisher), and International Journal of Gender and Entrepreneurship.
Most Global Cited Documents in the Islamic Entrepreneurship Domain.
Source. Authors’ compilation using Bibliometrix R Studio.
Note. TC = Total Citations; TC/Y = Total Citations per Year; Q = Quartile.
We found that the three most cited papers all focus on women entrepreneurs in the Middle East (Atia, 2012; Tlaiss, 2014; Zamberi Ahmad, 2011), signaling the centrality of gender and cultural dynamics in Islamic entrepreneurship. Moreover, a foundational conceptual framework that defines Islamic entrepreneurship must based on three pillars: entrepreneurial orientation, socio-ethical norms, and religio-spiritual commitments (Gümüsay, 2015).
This perspective situates entrepreneurship as a worldly pursuit and a spiritual journey, shaping individual, organizational, and institutional behavior. An empirical insights into the lived experiences of Saudi women entrepreneurs, show how they navigate restrictive cultural norms by leveraging family networks, education, and micro-enterprise strategies (Tlaiss, 2014, 2015). The study underscores successful women entrepreneurs aligning internal motivations with external constraints, reducing work–family conflict (Shelton, 2006). Meanwhile, Islamic business ethics—such as amanah (trust), adl (justice), falah (well-being), and itqan (excellence)—has been internalized and practiced by Arab women entrepreneurs across four countries (Atia, 2012). Her study emphasizes that Islamic values are symbolic and operational principles that shape ethical decision-making and business resilience. These three influential works collectively suggest that Muslim women entrepreneurs are economic actors and moral agents who actively shape their environments. Their engagement generates positive multiplier effects on household stability, community well-being, and broader sustainable development outcomes (Muhammad et al., 2021).
Sources and Country Trend
The top 10 sources contribute to over 30% of the total scientific production during the study period. These journals can serve as a valuable source of knowledge for researchers, academics, policymakers, and government institutions seeking in-depth information on efforts to develop Islamic entrepreneurship. Figure 3 indicates that “Entrepreneurship and Management in Islamic Context” has the highest number of articles related to Islamic entrepreneurship, with 11 articles and 123 citations. This is followed by the “Journal of Islamic Accounting and Business Research,” which features 10 articles and 28 citations. Comparatively, other sources such as the “Journal of Business Ethics” have fewer articles (4) but a higher citation count (320). The productivity of sources does not always align with the impact of the articles, where impact is evaluated based on the total number of citations (Bornmann & Daniel, 2008; Waltman, 2016). Therefore, a balanced evaluation combining both productivity and citation impact is crucial for understanding the scholarly contribution of journals in Islamic entrepreneurship.
Top 10 sources.
Based on Figure 4, it can be observed that 5 out of the top 10 most productive affiliations are from Malaysia. However, the most productive institution in generating scientific documents related to Islamic entrepreneurship is Islamic Azad University, located in Iran, with 23 publications. Meanwhile, Indonesia has the highest number of publications, with 182 documents, followed by Malaysia with 175 articles. Several countries with minority Muslim populations, such as Australia, the UK, the USA, and North Macedonia, have shown interest in research on Islamic entrepreneurship. This suggests that interest from majority Muslim countries, including those in the Organization of Islamic Cooperation (OIC), remains low, as only 6 out of the 57 OIC member countries are actively and productively generating scientific documents on Islamic entrepreneurship. This should be a collective concern for most Muslim countries worldwide to increase their active participation in the academic field, thereby furthering the development of the Islamic business industry globally.
Top 10 affiliations and country publications.
Country Collaborations Trends
Based on Figure 5, broader collaboration trends in Islamic entrepreneurship research have been observed. Eight countries—India, Germany, Bangladesh, Brunei, Lebanon, the Netherlands, Oman, and Turkey—produce research documents without collaborating internationally, as reflected in the proportion of Single Country Publications (SCP). Notably, four of these are OIC member states. In contrast, Malaysia and Indonesia, both OIC members, demonstrate the highest levels of international research collaboration, followed by the United States, a country with a minority Muslim population. This pattern suggests not only strong collaborative publication efforts within Muslim-majority contexts but also a growing interest from non-Muslim-majority countries in exploring the field of Islamic entrepreneurship. Collaboration has become an important strategy in scientific research to produce high-quality results and increase impact (Hou et al., 2021). Working with international partners also brings extra advantages, such as enhancing academic reputation, gaining recognition, and improving access to research funding, as shown by patterns of building credibility, seeking prestige, and global trends in scientific progress (Kwiek, 2021). We examine the countries with the most cited articles, and the United States emerges with the highest citation count at 377, followed by Malaysia, Macedonia, Indonesia, and the UK with respective counts of 308, 235, 228, and 190 citations.
Publication collaboration globally.
Figure 6 illustrates a three-field plot among the top 15 keywords, countries, and top journals. It is created using a semi-automated method that examines the titles of the references and the authors’ keywords (M. K. Hassan et al., 2023). The top right area is important because it has strong connections and is central to the network (Kafi et al., 2023). Based on our analysis results, a three-field plot analysis aids in visually representing the progression of academic literature based on the three chosen fields. In this instance, the chosen categories include top countries, primary author keywords, and prominent journals. These diagrams aid in identifying key contributions within the flow system. The width of the flow band correlates with each element’s contribution level within its respective category. For example, a top country that focuses on Islamic entrepreneurship is Malaysia. The connection between countries and keywords reveals that most nations have produced literature about entrepreneurship, Islam, and Islamic entrepreneurship. This happens because government institutions strongly influence entrepreneurship, particularly in shaping entrepreneurship education and programs (Looi & Maritz, 2021). Furthermore, Malaysian Muslim entrepreneurs uphold the principles of Maqasid al-Shariah by fulfilling their obligations to their families, supporting the poor, and contributing to the wider Muslim community (Yaacob & Azmi, 2012). It has been proven that implementing Islamic entrepreneurship is in line with Maqasid al-Shariah (Javaid, 2022).
Three-field analysis on Islamic entrepreneurship.
We emphasize that even non-Muslim minority countries are interested in Islamic entrepreneurship research, such as the UK, USA, Australia, and Canada. Regarding the sources of publication, the predominant utilization of the top keywords is notably concentrated in journals such as “Entrepreneurship and Management in an Islamic Context” and the “International Journal of Business and Globalisation.” These journals also rank among the top 10 in terms of both published articles and citations. As evidence, an empirical study explains how Assadaqaat Community Finance in the UK uses Islamic finance principles to support entrepreneurship through free training and interest-free funding, helping participants achieve financial independence and give back to the community (Hagawe et al., 2023).
Top Frequent Authors’ Keywords
Table 5 provides an overview of the most frequently used authors’ keywords in Islamic entrepreneurship research. “Entrepreneurship” ranks highest with 83 occurrences, followed by “Islam” with 41 occurrences, and “Islamic Entrepreneurship” with 19 occurrences. In bibliometric analysis, a word cloud of authors’ keywords visualizes the most used terms to discern predominant themes in an author’s body of work. The size of each word in the cloud denotes its frequency within the keyword list (DePaolo & Wilkinson, 2014).
Top Frequent Authors’ Keywords.
Source. Authors’ Analysis using Bibliometrix R Studio.
Figure 7 illustrates a word cloud map of the principal authors’ keywords in Islamic entrepreneurship, identifying core research topics such as Islam, Islamic entrepreneurship, social entrepreneurship, Islamic finance, Indonesia, innovation, religion, entrepreneurial education, and entrepreneurial intention. This analysis highlights the interrelation between entrepreneurship, Islam, Islamic, and social entrepreneurship, underscoring their interconnected significance in the field.
Word cloud of top authors’ keywords in Islamic entrepreneurship theme.
Furthermore, the study employs Multiple Correspondence Analysis (MCA) using the bibliometrix R package to examine the authors’ keywords. MCA is a data analysis technique that graphically represents categorical data (Bar-Ilan, 2008), chosen here for its capability to identify underlying themes based on authors’ keywords. MCA groups related keywords, producing a hierarchical visualization of frequently used terms (Demiroz & Haase, 2020). For example, if “women entrepreneurs” and “SMEs” appear with the same frequency across articles, they are grouped together (Bar-Ilan, 2008).
Figure 8 depicts the conceptual structure of authors’ keywords, for example, Islamic entrepreneurship is associated with “women entrepreneurship” and “economic development.” This tool provides complementary insights into an author’s research focus, offering valuable perspectives for bibliometric analysis (Bonilla et al., 2015). The map categorizes the publications into two major clusters, red and blue, with interconnected keywords in each cluster. The red cluster links women entrepreneurship with terms such as Arab Middle East, waqf, Small and Medium Enterprises, halal food industry, fintech, technology, and finance.
Conceptual structure map of Islamic entrepreneurship based on authors’ keywords.
Bibliometric Mapping Analysis of Islamic Entrepreneurship
Bibliometric mapping analysis is frequently utilized to identify specific research fields, providing a comprehensive overview of the study area’s topology, including its themes, topics, and terms, as well as their interconnections (N. J. Van Eck & Waltman, 2012). To visualize the outcomes of bibliometric mapping, a computer-aided program called VoSviewer, developed by Leiden University, Netherlands (Bonilla et al., 2015; Demiroz & Haase, 2020); and Bibliometrix R Studio have been employed globally (Aria & Cuccurullo, 2017; Buyukkidik, 2022). Bibliometric maps in various formats, emphasizing unique aspects of literature production. The software integrates clustering and mapping methods, primarily based on standardized term co-occurrence, which assesses the relationship strength between terms, making it an effective tool for network analysis (N. J. Van Eck & Waltman, 2012).
Co-Authorship Collaboration Analysis
Co-authorship collaboration spanned across 64 countries, while articles originated from 23 countries (with a minimum threshold document count of 5). The thickness of the lines indicates the frequency of co-authorship with each country. This map reveals a robust collaboration network established among Indonesia, Malaysia, the United States, Iran, and the United Kingdom. Particularly in Islamic entrepreneurship research, Indonesia emerges as the most collaborative country, engaging with various continents, including Europe, Asia, Australia, and North America, and receiving the third-highest citations (400), with 25 links and 64 documents (see Figure 9). Conversely, Brunei Darussalam, India, and Germany exhibited lower levels of cooperation with other countries. The high proportion of articles from certain countries is significant for two reasons (Kafi et al., 2023): firstly, it facilitates the exploration of more detailed study topics, and secondly, it presents an opportunity for new countries to join collaborations, fostering partnerships among researchers and institutions in these fields.
Co-authorship network among productive authors.
Keywords Co-Occurrence Network
Keyword analysis using co-occurrence networks identified major research topics in the COVID-19 food supply chain, with size indicating frequency (Vošner et al., 2016), while the lines between them indicate the strength of their correlation (Danvila-del-Valle et al., 2019; Vošner et al., 2016). Related keywords are typically listed together and share the same color for clarity. Keywords lacking connecting lines suggest no established connection. Notably, terms appearing closer to the center of the network map tend to co-occur more frequently. Stronger associations are indicated by closer connections (Kafi et al., 2023). In Islamic entrepreneurship, the co-occurrence map (Figure 10) reveals a dominant thematic cluster centered on “entrepreneurship,” which appears prominently and centrally positioned. This central placement signifies its critical role in the discourse and reflects its frequent association with the term “Islam.” The overlay of “entrepreneurship” over “Islam” highlights their close conceptual link, underscoring the integrative nature of research in Islamic entrepreneurship and affirming its relevance as a prominent and evolving scholarly theme. This analysis maps the intellectual terrain and provides strategic insights for future research directions and policy formulation (Donthu et al., 2021).
Authors’ keyword co-occurrence analysis.
Thematic Evaluation
In this study, we evaluate documents using the authors’ keywords, as depicted in Figure 11. We investigate a thematic map by analyzing density and centrality metrics, dividing it into four thematic quadrants, as shown in the diagram below. This diagram is created using a semi-automated method that carefully examines the titles of all references and the keywords used by the authors (M. K. Hassan et al., 2023). The upper right quadrant is designated a high-priority area due to its notable density and centrality within the network (Kafi et al., 2023). Therefore, it is recommended to conduct further investigations in this domain, given its substantial relevance to the topic of Islamic entrepreneurship, which is linked by some issues including entrepreneurship, human, religion, developing countries, commerce, economic and social effects, investments, sustainable development, information management, and regional planning. Furthermore, the upper left quadrant illustrates a unique and specific pattern, encompassing themes such as higher education institutions, women’s status, gender identity, and gender relations. Conversely, the bottom-left quadrant features subjects that have been extensively researched over time but have gradually declined in popularity, as indicated by their reduced centrality. Topics in this quadrant include social entrepreneurship, information technology, Islamic finance, and curricula for students. In contrast, the lower-right quadrant comprises foundational themes with high density and strong centrality. These crucial topics, including entrepreneurship, Islamism, financial services, and employment, attract significant attention. The illustration can be seen in Figure 11.
Thematic map of Islamic entrepreneurship analysis.
A Sankey diagram is used to analyze the theme’s evolution, which is split into two distinct time frames. A Sankey diagram illustrates the interrelation and evolution of various themes over time (Aria et al., 2020). Each box on the map symbolizes a theme, with its size proportional to the frequency of occurrence of that theme (Srivastava, 2021). The flows connecting each box depict the evolution traces of the themes, with the thickness of the connecting lines indicating the strength of the relationship between the two themes (Kafi et al., 2023).
Based on Figure 12, upon examining its progression, we observe that the initial period spans from 1990 to 2019, while the subsequent period spans from 2020 to 2024. Throughout the first phase (1990–2019), which encompasses 29 years, research predominantly revolved around eight key topics, namely: Islamic finance, entrepreneurship, entrepreneurs, business ethics, entrepreneurial orientation, social entrepreneurship, gender, economic development, entrepreneurial intention, entrepreneurial education, Indonesia, social enterprise, and Malaysia. During the second phase (2020–2024), spanning 4 years, the concepts under extensive study are linked to entrepreneurship, entrepreneurial intention, Indonesia, fintech, Islamic microfinance, and sustainability. For example, research on Islamic entrepreneurship within the entrepreneurial domain evolved into eight new themes from 1990 to 2019 and one theme from 2020 to 2022. Moreover, it demonstrates how this single theme is manifested across eight themes.
Thematic evolution of Islamic entrepreneurship analysis.
Discussion
A summary of research trends in Islamic entrepreneurship is provided by the descriptive analysis, which draws from about 34 years of scholarly literature. It shows a consistent rise in academic papers, indicating a rising interest in this field. This pattern suggests that Islamic entrepreneurship is becoming more widely acknowledged as a pertinent subject in scholarly discussions. The growing amount of research, however, also poses analytical difficulties, especially when assessing the field’s implications for sustainability and inclusion in the face of rapid digital revolution and worldwide socioeconomic inequality. Examining commonly used terms suggests several possible avenues for further research, such as the connection between Islamic entrepreneurship and economic growth. According to the literature, several variables could affect how Islamic entrepreneurship promotes inclusive and long-lasting results. Five aspects appear recurrent in the discourse: adaptability in the digital era, the use of diverse Islamic financial instruments, the role of entrepreneurial education, women’s participation, and the broader social impact of entrepreneurial activities.
Islamic Entrepreneurship: Swift Adaptation to the Digital Age
Within entrepreneurship, Information Technology (IT) serves as a vital component in the growth and dynamics of the economy in a knowledge-based economic framework (Maesoomi et al., 2013). Information Technology (IT) enables entrepreneurs to connect directly with the global online economy (Frazier & Ewing, 2009). This is why digitalization is crucial for entrepreneurs. This is evident in the designer-entrepreneur in the fashion sector in Turkey, where the digital era has easily introduced Turkish fashion to various countries worldwide (Crăciun, 2017, 2019). Another significant evidence of the digital era is the development of the Online Islamic Business Enhancer Tool (OIBET), which aims to assist young entrepreneurs in navigating business dynamics and seizing new global business opportunities (R. Hassan et al., 2018). The utilization of IT through online marketing and social media adoption has been proven to enhance business operations for entrepreneurs within religious-based entrepreneurship, such as in da’wah enterprises (Manaf et al., 2015). Furthermore, digital technology has been adopted to market agricultural products from Islamic boarding schools (pesantren), which have now entered the supermarket segment (Sarwenda et al., 2024). Therefore, entrepreneurial marketing innovation has become a critical factor in enhancing the performance of SMEs in the halal industry, particularly in the halal food sector (Deku et al., 2023), halal products and services (Halkias et al., 2014), and startups (Games et al., 2021). These findings align with previous empirical studies showing that Islamic entrepreneurship is essential to implement in MSMEs because it positively influences Muslim customers’ intentions to purchase their products (Machmud & Hidayat, 2020; Raza et al., 2023; Riofita, 2025). Moreover, SMEs’ innovation must also be balanced with personal values such as cooperation, honesty, and trustworthiness (Games, 2020; Games et al., 2021). This is in line with previous research, which highlights the importance of applying Islamic values in business practices (Abdul Halim & Muda, 2016), as it can enhance customer trust and, in turn, improve the company’s reputation. This ultimately supports the sustainability of Muslim entrepreneurs’ businesses (Anggadwita et al., 2017; Carneiro-Da-Cunha et al., 2015).
Innovation is imperative for entrepreneurs (Landes et al., 2012; Sadri, 2010), as innovation has been proven to influence entrepreneurial behavior (Hasan et al., 2022) including for halal entrepreneurs (M. A. Abdullah & Azam, 2020). Because entrepreneurship fundamentally involves creating new businesses through innovation, innovation becomes a crucial key that provides business opportunities in the real world (Gupta & Varshney, 2020). Hence, enhancing innovation becomes highly imperative, accomplished through the augmentation of entrepreneurial orientation and knowledge management (Rofiaty, 2019). In the context of sustainable entrepreneurship, besides adequate IT infrastructure, personal values of entrepreneurs, and innovation, another crucial element is leadership focused on socio-economic enhancement, environmental sustainability, and values that support Islamic digital transformation. This will accelerate the achievement of prosperity for SMEs and financial health (Kasim et al., 2024).
While many Muslim entrepreneurs have adopted information technology (IT) to market their products and enhance innovation in alignment with SDG 9, these initiatives have yet to fully address business sustainability challenges in a competitive digital environment. The current capacity of Muslim entrepreneurs, particularly those operating at the micro-enterprise level, suggests a continued need for structured digital marketing training and consistent mentoring and monitoring. Existing literature and field observations indicate that developing digital marketing standards tailored to Islamic entrepreneurship could support greater market access, including export potential, and contribute to long-term value creation. Risk management considerations, including those related to privacy, ethics, and operational integrity, remain prominent, often leading institutions to adopt cautious approaches. Additionally, a shortage of professionals with IT and AI expertise limits the effective deployment of fintech solutions among Muslim entrepreneurs. This highlights the relevance of aligning policy frameworks and data protection strategies with advances in artificial intelligence to ensure appropriate and up-to-date cybersecurity measures. Within this context, the digital transformation of Islamic entrepreneurship continues to emerge as an area warranting further policy attention and research.
Beyond its role as a facilitator of efficiency and market expansion, digital transformation in Islamic entrepreneurship also raises critical tensions that require deeper reflection. While Schumpeterian perspectives frame digitalization as a form of creative destruction that disrupts traditional business models, Islamic entrepreneurship tempers this with values of justice (adl), trust (amanah), and collective welfare. This creates a divergence from purely profit-driven innovation by embedding ethical guardrails that prioritize social and environmental responsibility. Similarly, Kirzner’s notion of entrepreneurial alertness to opportunities resonates with the Islamic principle of fathonah (strategic intelligence), yet Islamic entrepreneurship extends this alertness beyond market gaps to include opportunities for social inclusion and sustainable livelihoods. This synthesis suggests that digital Islamic entrepreneurship does not only aim to maximize competitive advantage but also to advance sustainability goals such as reducing inequality (SDG 10) and fostering responsible consumption (SDG 12). However, contradictory evidence exists in the literature—while some studies highlight how digital tools expand Muslim entrepreneurs’ access to global markets, others caution that reliance on digital platforms may exacerbate inequalities among micro-entrepreneurs with limited resources. Acknowledging these tensions provides a more nuanced understanding that sustainability within Islamic entrepreneurship requires not only technological adoption but also inclusive digital ecosystems that uphold Maqasid al-Shariah principles.
From a sustainability perspective, digital transformation in Islamic entrepreneurship is not only about technological adoption but also about aligning innovation with long-term economic, social, and environmental goals. Digital platforms can reduce barriers to market entry, promote financial inclusion, and support greener business practices by lowering transaction costs and minimizing resource waste, thereby contributing to SDGs 8 (decent work and economic growth) and 13 (climate action). At the same time, Islamic entrepreneurship provides ethical safeguards against the unintended negative effects of digitalization, such as overconsumption, exploitation of labor, and environmental neglect. For instance, Islamic principles of moderation (wasatiyyah) and accountability (hisbah) encourage entrepreneurs to integrate responsible consumption and production (SDG 12) into their digital business strategies. Moreover, community-based digital ecosystems—such as online cooperatives or waqf-supported digital platforms—can play a role in ensuring that digital transformation benefits not just individual entrepreneurs but society at large, thereby reducing inequality (SDG 10) and enhancing resilience. Embedding sustainability into the digitalization process ensures that Islamic entrepreneurship contributes not merely to competitiveness in the global economy but also to the holistic realization of Maqasid al-Shariah.
Financing Options for Islamic Entrepreneurship
Capital is a crucial factor in entrepreneurship. In the context of developing Islamic entrepreneurship, enhancing models of Islamic financial institutions is the primary focus for Muslim entrepreneurs (Sohail & Arshed, 2024). The existence of interest in conventional banks and other financial institutions leads Muslim entrepreneurs to avoid them (Sohail & Arshed, 2024), as interest (riba) is explicitly prohibited in Islam (Gürak & Hatti, 2024). Another reason is that Islamic financial products and services represent ethical financial services (Wakwabubi et al., 2019). Several sources of Sharia-compliant funding include Islamic banks (N. M. Abdullah, 2020; Husseini et al., 2019; Selim, Ebrahim, et al., 2023), Sharia venture capital institutions (Fathonih et al., 2019; Ibrahim & Kahf, 2020), Islamic crowdfunding platforms (Ishak & Mohammad Nasir, 2024; Rahman et al., 2020; Rama & Yaman, 2024), Baitul Maal Wat Tamwil (BMT; Anwar et al., 2023), and Islamic nanofinance (Musari et al., 2023). Meanwhile, another alternative of Islamic social financial instruments includes zakat, infaq, sadaqa (ZIS), waqf (Islamic endowment; Alam, 2018; Ayub et al., 2024; Laila et al., 2022; Laila et al., 2023), cash waqf (Pananjung et al., 2023) and Islamic microfinance (Selim, Qamber, et al., 2023; Ul-Hassan & Usman, 2013).
Although various Sharia-compliant financial instruments have been developed. Ranging from Islamic banks, venture capital, crowdfunding, and Baitul Maal Wat Tamwil to zakat, waqf, and other social finance mechanisms. Their implementation often remains fragmented between social and commercial purposes. Bridging these two domains is essential to enhance financial inclusion and empower Muslim entrepreneurs who frequently face challenges in accessing capital. Therefore, integrating Islamic social and commercial finance (IISCF) can serve as a strategic solution for Muslim entrepreneurs to achieve sustainability and broader societal prosperity (Maulina et al., 2023). Microenterprises, in particular, represent the segment most in need of financial support from Islamic social finance to sustain their operations (Kachkar & Alfares, 2022). A relevant example can be observed in the community-based Islamic financial model in the United Kingdom (UK), namely the Assadaqaat Community Finance (ACF) model, which allows donors to realize their business aspirations while contributing to sustainable solutions that address global challenges and support the Sustainable Development Goals (SDGs; Hagawe et al., 2023). Thus, Islamic finance becomes a key enabler in developing Islamic entrepreneurship (Zreik, 2023). However, despite the emergence of financial technology (fintech) services offered by Islamic banks and other financial institutions (Aldulaimi et al., 2022; Alsaghir, 2023; Baber, 2020), their implementation remains suboptimal in reaching the intended beneficiaries.
MSMEs, contributing 61% of Indonesia’s GDP, need greater access to Sharia-compliant finance through microfinance, BMT, and social finance to overcome risks and limited conventional funding. Such support aligns with SDGs and boosts customer trust in Islamic MSMEs (Machmud & Hidayat, 2020; Raza et al., 2023; Riofita, 2025).
Although the availability of Sharia-compliant financial instruments offers promising alternatives, the literature presents contradictory findings on their accessibility and long-term sustainability impact. Some studies argue that Islamic banks and crowdfunding platforms provide inclusive solutions for underbanked entrepreneurs, while others highlight structural barriers such as high collateral requirements, limited outreach in rural areas, and relatively higher transaction costs compared to conventional institutions. From a Schumpeterian lens, Islamic finance can be seen as a driver of innovative disruption—offering new financing models that replace interest-based systems. However, unlike Schumpeter’s purely growth-oriented perspective, Islamic entrepreneurship embeds financial innovation within the principles of risk-sharing and wealth distribution, aligning with the Maqasid al-Shariah objective of preserving wealth (hifz al-mal). Similarly, Kirzner’s notion of entrepreneurial alertness resonates with the emergence of hybrid instruments like Integrated Islamic Social and Commercial Finance (IISCF), where entrepreneurs remain alert to opportunities not only for profit but also for societal benefit. Nonetheless, the challenge remains in ensuring that such financial innovations contribute to sustainability rather than deepening inequality between well-networked entrepreneurs and those excluded from formal systems. Therefore, financing in Islamic entrepreneurship must be evaluated not only on its efficiency but also on its capacity to support long-term sustainability goals, such as reducing poverty (SDG 1), fostering decent work and economic growth (SDG 8), and reducing inequality (SDG 10).
Embedding sustainability into Islamic financing mechanisms requires more than providing Sharia-compliant alternatives; it also demands designing inclusive models that enable long-term resilience for micro and small entrepreneurs. Access to Islamic microfinance, waqf-based financing, and crowdfunding platforms has the potential to foster financial inclusion, yet sustainability is achieved only when these mechanisms address structural gaps such as digital literacy, gender disparities, and rural financial exclusion. By linking Islamic finance with sustainability goals, instruments like cash waqf or IISCF can be positioned not only as tools of capital provision but also as vehicles for building social safety nets, supporting climate-adaptive enterprises, and strengthening community resilience. For example, waqf-based financing directed toward green MSMEs could advance SDG 13 (climate action), while BMT and Islamic nanofinance initiatives can improve rural livelihoods and reduce urban–rural inequality (SDG 10). Moreover, the ethical foundation of Islamic finance offers safeguards against exploitative practices, thereby reinforcing decent work and economic justice (SDG 8). However, realizing these opportunities requires consistent policy alignment, capacity building, and the establishment of performance metrics that go beyond short-term profitability to include social and environmental outcomes. By embedding such sustainability measures, Islamic finance can serve as a transformative driver of inclusive growth in Muslim entrepreneurship while remaining faithful to the Maqasid al-Shariah.
Enhancing Islamic Entrepreneurial Education
Education is the key to achieving success in entrepreneurship (Rixon et al., 2016). Therefore, entrepreneurship directly influences education (Tape & Shahramfar, 2015). The current education system has internalized entrepreneurship, with Islamic ethics (Omri & Becuwe, 2014) and Islamic values as well (A. Wibowo et al., 2022) essential elements. The integration of educational institutions in enhancing students’ Islamic entrepreneurship is evident through various entrepreneurship education activities in Islamic boarding schools (Anggadwita et al., 2021; Ariatin et al., 2024; Ma’arif & El Muna, 2023; Syafiq Humaisi et al., 2019; Wardi et al., 2019; A. Wibowo et al., 2022; H. Wibowo et al., 2021; Zaki et al., 2020), higher education institutions (Baidi & Suyatno, 2018), universities (Rokhman & Ahamed, 2015), and even kindergartens (Muji et al., 2019).
Entrepreneurship has become a generic skill integrated into the curriculum (Hashim et al., 2019; Muluk et al., 2019). Entrepreneurial education provides high-quality human resources (Alias & Musa, 2014), who will later be oriented toward entrepreneurship (Peranginangin & Bakar, 2020; Rofiaty, 2019). In addition to entrepreneurial education factor (Aloulou, 2016, 2017; Ghadas et al., 2012, 2014; Nikneshan et al., 2015), there are various factors to consider in enhancing the entrepreneurial intention, namely: tawhid (Tarip, 2024), learning organization (Al Idrus et al., 2019), self-awareness (Moridi et al., 2014), self-efficacy (Al Idrus et al., 2019; Ukil et al., 2024), religious values and practices (Rehan et al., 2019), quranic values (Fatah et al., 2023), muslim lifestyle and entrepreneurial interest (Anisah & Wandary, 2022), nyyh (Ashraf, 2019), and perceived halal income (Ukil et al., 2024).
In educational institutions, the availability of entrepreneurship curricula, students’ readiness, the understanding of entrepreneurship by teaching staff (Indriya et al., 2023), as well as Muslim leadership from educational institution leaders (Ariatin et al., 2024; Kirby et al., 2022; Muluk et al., 2019; Nayebi et al., 2012), all need to be present to achieve an increase in entrepreneurial interest. For example, an empirical study in Iran found that managers’ entrepreneurial characteristics and organizational climate were directly associated with practical knowledge management, highlighting the importance of entrepreneurial behavior and supportive structures in fostering entrepreneurship education (Nazem, 2011). Based on these findings, enhancing Islamic entrepreneurial education from an early age is crucial in promoting intentions toward Islamic entrepreneurship. Additionally, support in the form of policies should be provided for educational curricula from early childhood to university levels. This includes increasing the number of informal educational institutions and training centers in rural areas, not just in urban centers, focusing on fostering Islamic entrepreneurial interest. These programs will support SDG 4.
Positioning Islamic entrepreneurial education within a sustainability framework highlights its role not only in fostering business skills but also in shaping values that align with long-term social and environmental well-being. By embedding principles such as stewardship of resources (khalifah), accountability (hisbah), and moderation (wasatiyyah) into the curriculum, educational institutions can cultivate entrepreneurs who are capable of integrating ethical responsibility with innovation. This approach ensures that entrepreneurial learning contributes to broader sustainability objectives, including quality education (SDG 4), decent work and economic growth (SDG 8), and responsible consumption and production (SDG 12). Moreover, Islamic entrepreneurial education that emphasizes inclusivity through accessible programs for women, rural communities, and marginalized groups can reduce inequality (SDG 10) while strengthening community resilience. However, contradictory findings in the literature point out that while entrepreneurship education often boosts students’ intentions, it may not always translate into sustainable ventures without ongoing mentoring and ecosystem support. Thus, sustainability-oriented Islamic entrepreneurial education must move beyond knowledge transfer to include experiential learning, mentorship, and community-based incubation models that link education with real-world challenges. This will create a generation of Muslim entrepreneurs who not only seek profit but also advance the Maqasid al-Shariah and the Sustainable Development Goals in practice.
Islamic Entrepreneurship’s Empowering Impact on Women
One of the significant roles of entrepreneurship is to empower women. The emergence of the term “female entrepreneurs” is a result of emancipation and social change for women (Barragan et al., 2018), women’s economic rights (Rafique, 2023), and justice (Aligod, 2023). Moreover, women have been proven to be more active in the workforce (Mehtap et al., 2016). This has been extensively studied by previous researchers, wherein entrepreneurship has been identified as a strategic tool for enhancing female entrepreneurship in various countries such as Pakistan (Rehman & Basit, 2023; Shah et al., 2022; Sultan et al., 2023), Saudi Arabia (Tlaiss, 2014, 2015), Malaysia, Morocco, Afghanistan (Althalathini et al., 2022), Palestine (Althalathini et al., 2022), Iran (Soleimani & Kiaee, 2020), Ghana (Ackah et al., 2023), Senegal (Gomez-Perez & Jourde, 2021), Sri Lanka (Salfiya Ummah, 2021), Turkey (Kütük-Kuriş, 2020), and Jordan (Mehtap et al., 2016). In this context, Gender issues in Muslim entrepreneurship are critical, with countries like Malaysia and Indonesia emphasizing policies for women’s access to finance, training, and technology (Azam Roomi & Harrison, 2010; Hendrayati et al., 2025; Hidayah, 2023; Ismail et al., 2021). Such support can promote inclusivity and sustainability. It has been proven that Islamic entrepreneurship focusing on women can also have a positive impact on improving household economic conditions (Shelton, 2006).
Fundamentally, gender equality in the Islamic economy aims to enhance entrepreneurial activities and foster socio-economic development (Costa & Pita, 2021). The examination of women’s challenges in entrepreneurship has been thorough, with several factors affecting the performance of female entrepreneurs, such as family support, education, governmental policies, and motivation (Ouragini, 2019). Islamic religiousness is a factor that contributes to the entrepreneurial behavior of women (Althalathini et al., 2022; Ghoul, 2015; Tlaiss & McAdam, 2023). Islam positively influences the entrepreneurship activities (Alarifi & Alrubaishi, 2018; Ariestadi & Wulandari, 2018; Davis, 2013; Elfakhani & Ahmed, 2013; Ghoul, 2015; Khan et al., 2024; Manaf et al., 2015; Ramadani et al., 2016; Salwa et al., 2013). In its development, Islamic entrepreneurship must prioritize women (SDGs 5), as they play a crucial role in supporting household economies in many countries, especially Muslim majority countries. Efforts should include facilitating the establishment of women entrepreneurs, especially in micro-enterprises, certifying halal food and beverage products, providing various entrepreneurial managerial training programs, and creating regulations that support Islamic women’s entrepreneurship.
Positioning women’s empowerment within Islamic entrepreneurship through a sustainability lens highlights that supporting female entrepreneurs is not only an issue of gender equality but also a driver of broader socio-economic and environmental progress. Women-led enterprises have been shown to reinvest a larger portion of their income into family well-being, education, and community development, thereby creating multiplier effects that advance SDG 1 (poverty reduction), SDG 3 (health and well-being), and SDG 4 (quality education). When women entrepreneurs are given access to Sharia-compliant financing, digital platforms, and capacity-building programs, they can also play a central role in fostering responsible consumption (SDG 12) and promoting inclusive economic growth (SDG 8). At the same time, Islamic entrepreneurship embeds ethical safeguards such as amanah (trustworthiness) and adl (justice) that help prevent the exploitation and marginalization of women in business settings, aligning with the Maqasid al-Shariah principle of protecting dignity (hifz al-‘ird). However, contradictory findings in the literature caution that without structural support, women’s ventures often remain micro-scale and vulnerable to market shocks, limiting their sustainability. Thus, effective women-focused Islamic entrepreneurship strategies require not only access to capital and training but also long-term ecosystem support through policies, networks, and community-based initiatives that reduce inequality (SDG 10) and ensure lasting empowerment.
Social Impact of Islamic Entrepreneurship
Entrepreneurship has been associated with positive societal outcomes, including its potential to contribute to community development and empowerment (Md Saad et al., 2022). The concepts of community-based entrepreneurship have arisen from committed individuals’ efforts to promote self-employment, with support from various banking and non-banking institutions, as well as national and international developmental agencies. Recognized as an essential instrument for assisting impoverished communities in achieving social upliftment (Parwez, 2017), including providing entrepreneurship training to various communities (Md Saad et al., 2022), consultation (Muin et al., 2022), and targeted efforts to support low-income groups (Priyadi & Achiria, 2022).
Within this broader framework, Islamic social entrepreneurship shares common ground with Islamic entrepreneurship, particularly in its emphasis on ethical principles derived from Islamic teachings (Omri & Becuwe, 2014). However, Islamic social entrepreneurship places a stronger focus on generating social impact (Muin et al., 2022) and the empowerment of economically marginalized groups (Priyadi & Achiria, 2022). Similarly, the concept of social impact is integral to Islamic entrepreneurship, where the enhancement of societal well-being is viewed as a key indicator of effectiveness.
One financial instrument that reflects this focus on social welfare is waqf (Iman & Mohammad, 2017). The emerging practice of waqf-based entrepreneurship referred to as waqf entrepreneurship has been explored for its potential to contribute to quality-of-life improvements (Laila et al., 2022). This approach aligns with the Maqasid al-Shariah (Abdur-Rauf & Raimi, 2023), which emphasize the promotion of social welfare and living standards as important considerations in the practice of entrepreneurship among Muslims.
Beyond its ethical and community-oriented foundations, the social impact of Islamic entrepreneurship must also be measured through its contribution to sustainability. Social value creation in this context extends beyond short-term welfare to long-term resilience, particularly in addressing poverty (SDG 1), food security (SDG 2), and health and well-being (SDG 3). By integrating tools such as waqf, zakat, and Islamic microfinance, Muslim entrepreneurs can build self-sustaining ecosystems that recycle wealth into society while empowering small-scale enterprises. This approach not only uplifts marginalized communities but also strengthens economic inclusivity and resilience.
Islamic entrepreneurship further promotes environmentally and socially responsible practices through the principle of stewardship (khalifah). In practice, this is reflected in community enterprises that emphasize ethical resource use, fair trade, and sustainable production, linking local initiatives to global goals such as reduced inequalities (SDG 10), responsible consumption (SDG 12), and climate action (SDG 13). Examples include waqf-based renewable energy projects and community-driven agriculture, which demonstrate how Islamic entrepreneurship can combine socio-economic empowerment with environmental sustainability.
However, achieving sustainability-oriented social impact is not without challenges. Studies show that weak governance, lack of transparency in managing waqf assets, and limited scalability often restrict effectiveness. To overcome these barriers, stronger regulation, institutional capacity building, and continuous monitoring are needed. Embedding such safeguards will enable Islamic entrepreneurship to move beyond short-term welfare provision toward lasting social transformation aligned with the Maqasid al-Shariah and the Sustainable Development Goals.
Integrated Sustainability Dimension and Framework
The sustainability dimension of Islamic entrepreneurship lies in its ability to link long-term social value creation with ethical business practices. Unlike profit-driven ventures, it integrates instruments such as waqf, zakat, and Islamic microfinance to reduce poverty (SDG 1), eliminate hunger (SDG 2), and improve well-being (SDG 3). Fostering community-based ecosystems promotes inclusive growth (SDG 10) and strengthens resilience against economic shocks. Through the principle of stewardship (khalifah), it also encourages resource conservation and climate-conscious practices aligned with SDG 13.
Still, challenges remain. Studies show that mismanagement of waqf assets, lack of transparency, and limited scalability hinder long-term impact. Addressing these issues requires stronger governance, accountability, and monitoring to ensure that Islamic entrepreneurship delivers both immediate and lasting benefits. Embedding sustainability principles serves as a catalyst for holistic transformation aligned with the Maqasid al-Shariah and the SDGs.
Figure 13 illustrates the Proposed Framework for Building a Robust, Resilient, and Sustainable Global Islamic Entrepreneurship Ecosystem. It emphasizes aligning entrepreneurial practices with Maqasid al-Shariah and the SDGs, highlighting the roles of digital transformation, Sharia-compliant financing, entrepreneurial education, women’s empowerment, and community-based initiatives. By embedding the values of justice (adl), stewardship (khalifah), and trust (amanah), the framework ensures that Islamic entrepreneurship fosters resilient, inclusive, and sustainable growth—contributing to poverty reduction (SDG 1), gender equality (SDG 5), decent work and economic growth (SDG 8), innovation (SDG 9), reduced inequalities (SDG 10), responsible consumption (SDG 12), and climate action (SDG 13).
Proposed framework for building a robust, resilient, and sustainable global Islamic entrepreneurship ecosystem.
Conclusion
This study examines 354 papers in the field of Islamic entrepreneurship, mapping the evolution of trends in this domain. Using VoSviewer for bibliometric mapping and R for thematic analysis, the study identifies emerging topics. Various aspects are explored, including yearly publication trends, sources of articles, prolific authors, highly cited papers, productive institutions and country’s key themes and their evolution over time. Additionally, specific research gaps are identified, suggesting areas for further investigation. Although the study primarily relies on the Scopus database for bibliometric analysis, future research is encouraged to consider additional data sources, such as Google Scholar and Web of Science, to provide a more comprehensive analysis.
By shedding light on global imbalances affecting Islamic entrepreneurship and by synthesizing existing literature, this study aims to offer policymakers—particularly in Muslim-majority countries in Southeast Asia such as Malaysia, Indonesia, and Brunei Darussalam—valuable insights. While the focus is regional, the core principles and findings of this study have broader relevance and can be adapted to both Muslim and non-Muslim countries worldwide. This underscores the potential of Islamic entrepreneurship models to inform inclusive and ethical economic development in diverse socio-cultural contexts, despite possible differences in local implementation.
More importantly, the findings of this study carry explicit sustainability implications. The transformation of digital Islamic entrepreneurship aligns with sustainable innovation and infrastructure (SDG 9), embedding Islamic social financing strategies contributes to poverty alleviation and reduced inequality (SDGs 1 and 10), and strengthening Islamic entrepreneurial education ensures quality education and long-term human capital development (SDG 4). Similarly, improving women’s entrepreneurship advances gender equality and inclusive growth (SDG 5), while fostering Islamic community-based entrepreneurship directly enhances social welfare, food security, and climate resilience (SDGs 2, 3, and 13). Collectively, these contributions demonstrate that Islamic entrepreneurship is not only an economic activity but also a framework for advancing the Maqasid al-Shariah alongside the Sustainable Development Goals. Therefore, policymakers, educators, and practitioners should view Islamic entrepreneurship as a strategic pathway toward sustainable and inclusive economic transformation.
This study has several limitations. First, the analysis used only the Scopus database, thus not fully capturing the potential contributions of other sources such as Web of Science and Google Scholar. Second, the choice of bibliometrics highlights only patterns, trends, and collaborative networks, without an in-depth assessment of methodological quality or research context. Therefore, the substantive meaning of social and institutional variation is not comprehensively explored. Therefore, future research is recommended to expand data sources by integrating multiple databases, to conduct analyses that combine bibliometrics with meta-analysis, or to employ other methods. Furthermore, empirical studies are needed to directly test the proposed Islamic entrepreneurship framework, particularly regarding digitalization, integration of commercial social finance, women’s empowerment, and community-based entrepreneurship models. This approach will enrich theoretical understanding and encourage the development of more inclusive and sustainable Islamic entrepreneurship in accordance with Maqasid al-Shariah and the SDGs.
Implications for Policymakers
Recognizing the profound impact of Islamic entrepreneurship on economic and social landscapes, particularly in the digital age, is paramount. Thus, an array of strategic imperatives must be considered. Firstly, there is a critical need to bolster digital literacy among Muslim entrepreneurs through robust digital marketing training initiatives complemented by ongoing mentoring and oversight mechanisms (Helmi et al., 2025). Policy frameworks should incentivize and formally recognize successful global marketing endeavors while establishing standardized protocols for digital marketing practices to facilitate export and bolster sustained profitability. Moreover, policymakers must address the deficiencies in fintech services by comprehensively mitigating privacy, ethical, and operational risks, while concurrently investing in cultivating a skilled workforce proficient in IT and AI domains (Das et al., 2025). Fintech has been proven to play a significant role in promoting financial inclusion among entrepreneurs (Kismawadi, 2024; Kunal et al., 2025). Policymakers should proactively update cybersecurity regulations, leveraging advancements in artificial intelligence to fortify data security measures (Dasawat & Sharma, 2023). Policymakers should fully support the transformation of digital Islamic entrepreneurship. Additionally, advocating for the fusion of Islamic social finance mechanisms with commercial finance can provide indispensable support for the viability of micro-enterprises (Ascarya, 2022; Ascarya et al., 2022).
Prioritizing the enhancement of Islamic entrepreneurial education, spanning from early childhood to tertiary levels, is imperative and requires expanding informal educational infrastructure and training facilities, particularly in rural areas (Feranita et al., 2022). Policymakers should make concerted efforts to empower female entrepreneurs by streamlining the establishment of microenterprises, offering targeted managerial training programs, and formulating regulatory frameworks conducive to women’s entrepreneurship (Nwachukwu et al., 2024; Rafiki & Nasution, 2019). Fostering Islamic community-based entrepreneurship initiatives and cultivating leadership models emphasizing socio-economic advancement and environmental stewardship are equally critical (Yadav et al., 2024). These strategic directives are integral not only thereby significantly supporting the achievement of the SDGs.
Despite its promising role in promoting inclusive and sustainable development, Islamic entrepreneurship faces several policy challenges. Evidence shows that while digital tools and fintech can widen opportunities, barriers such as unequal access to technology, high compliance costs, and the limited reach of Islamic financial institutions in rural areas may instead deepen inequality. Likewise, integrating Islamic social finance with commercial finance can support micro-enterprises, but weak accountability in waqf management and fragmented regulation threaten long-term sustainability. A further tension lies in balancing innovation with ethics: while “creative destruction” fosters competitiveness, it can clash with Islamic values of justice (adl), stewardship (khalifah), and collective welfare. These issues call for adaptive policies that encourage innovation while preventing exclusion and mismanagement. Strengthening governance, transparency, and inclusive digital ecosystems is essential to ensure Islamic entrepreneurship truly advances the Maqasid al-Shariah and the Sustainable Development Goals.
Footnotes
Ethical Considerations
There are no human participants in this article and informed consent is not required.
Author Contributions
Rodame Monitorir Napitupulu: Writing–review & editing, Writing–original draft, Software, Methodology, Formal analysis, Data curation, Conceptualization, and development of the manuscript’s conceptual framework, including retrieving data from Scopus and conducting the bibliometric analysis and Supervision. Raditya Sukmana: Cluster analysis, Writing–discussion, Future research agenda development, and providing Validation. Puji Sucia Sukmaningrum: Proofreading, Project administration, Formatting, and Visualization. Restu Khaliq: Writing–review & editing, Conceptualization, Validation.
Funding
The authors received no financial support for the research, authorship, and/or publication of this article.
Declaration of Conflicting Interests
The authors declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.
Data Availability Statement
No data was used for the research described in the article.