Islamic business ethics in the framework of higher ethical objective (Maqasid al-Shariah): a comprehensive analysis and future research directions

Purpose This study aims to analyze comprehensively the evolution of Islamic business ethics from its inception to the present, explore key themes with real-world examples from Muslim-majority and minority contexts, evaluate them through the Maqasid al-Shariah framework and build a foundation for advancing future research in the field of Islamic business ethics. Design/methodology/approach A systematic literature review was conducted using the preferred reporting items for systematic reviews and meta-analyses method, with data retrieved from Scopus and Web of Science databases. Findings Islamic business ethics encompasses a wide range of areas, including the halal industry, corporate social responsibility (CSR), sustainable development, marketing and commercial institutions. Case studies from Muslim-majority and Muslim-minority countries such as Indonesia, Malaysia, Saudi Arabia, the UK and the USA illustrate how Shariah principles are embedded in ethical branding, CSR initiatives, resource management and inclusive innovation. The findings highlight that Islamic business ethics – viewed through the Maqasid al-Shariah framework of protecting religion (ad-Din), life (an-Nafs), intellect (al-Aql), lineage (an-Nasl) and property (al-Mal) – balances economic growth with moral values and social welfare, thereby promoting sustainable socio-economic justice. Practical implications This study offers guidance for embedding Islamic business ethics into CSR programs, halal (permissible) certification, marketing, finance and resource management. It also provides policy insights for governance frameworks, CSR reporting and halal regulations aligned with Shariah principles. For practitioners, this approach strengthens reputation, stakeholder trust and competitiveness while ensuring responsible and ethical business conduct. Originality/value Unlike previous studies, this study systematically integrates diverse themes into a single integrated Maqasid al-Shariah-based framework, bridges theoretical gaps and demonstrates cross-sectoral applicability.