Sustainable Business Model from the Perspective of Islamic Economics: A Literature Review

Abstract

Changes in the business environment, pressure on resources, social issues, and increasing consumer demands for responsible business practices have encouraged companies to develop sustainable business models. From the perspective of Islamic economics, business sustainability is not only related to a company's ability to maintain long-term profitability but also to the fulfillment of the values of justice, trustworthiness (amanah), public benefit (maslahah), and responsibility toward people and the environment. This study aims to analyze the concept of a sustainable business model from the perspective of Islamic economics and formulate the characteristics of a business model that integrates economic, social, and environmental objectives based on Islamic principles. This study employs a library research method with a qualitative and descriptive-analytical approach. The research sources consist of scholarly journal articles, academic books, and literature discussing sustainable business models, Islamic economics, maqashid al-shariah, maslahah, Islamic business ethics, and social responsibility. The literature was analyzed through concept identification, thematic classification, comparison of ideas, and synthesis. The findings indicate that a sustainable business model from the Islamic perspective positions profit as part of the business objective, but not as its sole orientation. The model integrates economic, social, and environmental sustainability with the values of tawhid, amanah, justice, maslahah, and maqashid al-shariah. Accordingly, a Sharia-based sustainable business model is directed toward creating long-term value that not only benefits the company but also provides benefits to society and the environment.