The relevance of the implementation of Maqashid Shariah and sustainable development goals in Islamic microfinance institutions

Purpose This study aims to identify and measures the relevance between Maqashid Shariah and the Sustainable Development Goals (SDGs) in Islamic Microfinance Institutions (IMFIs). This study uses a combination of qualitative and quantitative approaches. Design/methodology/approach The data was obtained through a literature review, interviews and questionnaires. The data analysis used the Analytic Network Process. Findings The study results show that, qualitatively and quantitatively, Maqashid Shariah is relevant to IMFIs’ SDGs. Further, the fulfillment of 17 indicators shows relevance, 4 out of 5 security aspects, 2 out of 3 priorities for meeting needs and 6 preferences based on goals. This research provides recommendations for IMFIs implementing programs that support the realization of the SDGs and Maqashid Shariah. Practical implications The study recommends that IMFI programs focus on supporting the achievement of economic development as proclaimed by the SDGs and Maqashid Shariah. For example, programs should cover poverty alleviation, community empowerment, Micro, Small Medium Enterprise (MSME) development, increasing income and community welfare, economic justice and equity, as well as increasing access to microscale funding. Originality/value This study fills a gap in previous research, which has not revealed the relevance of the SDGs and Maqashid Shariah in IMFIs.