Islamic finance and the halal economy: A bibliometric review of new study frontiers

Azwar Azwar; Abur Hamdi Usman; Mohd Farid Ravi Abdullah; Lilly Suzana Shamsu

doi:10.29244/hass.3.2.1-13

Authors

Azwar Azwar Institut Agama Islam STIBA Makassar, Jl. Inspeksi PAM Timur, Manggala, Kec. Manggala, Kota Makassar, Sulawesi Selatan, 90234, Indonesia
Abur Hamdi Usman Universiti Islam Selangor (UIS), Bandar Seri Putra, 43000, Kajang, Selangor, Malaysia
Mohd Farid Ravi Abdullah Universiti Islam Selangor (UIS), Bandar Seri Putra, 43000, Kajang, Selangor, Malaysia
Lilly Suzana Shamsu Faculty of Usuluddin, Universiti Islam Sultan Sharif Ali (UNISSA), Bandar Seri Begawan, Brunei Darussalam

DOI:

https://doi.org/10.29244/hass.3.2.1-13

Keywords:

Bibliometric, Halal economy, Halal industry, Islamic banking, Islamic finance

Abstract

This study aimed to systematically analyze and map the scientific landscape of analyses on Islamic finance and the halal economy through a comprehensive bibliometric approach. Performance analysis and science mapping techniques, including co-authorship analysis, bibliographic coupling, co-citation analysis, keyword co-occurrence networks, and thematic evolution analysis, were applied using118 publications indexed in the Scopus database covering the period from 1997 to 2026. The results showed that the field evolved from a fragmented and marginal study domain into a rapidly expanding, interdisciplinary, and globally recognized area characterized by significant scholarly growth and thematic diversification. Publication trends also reported strong exponential growth, particularly after 2019, driven by the expansion of halal ecosystems, sustainability agendas, digital transformation, and technological innovation. Southeast Asian countries, specifically Indonesia and Malaysia, were recognized as dominant contributors and major intellectual hubs due to advanced halal industry ecosystems and Islamic finance infrastructures. Collaboration analysis showed that scientific cooperation remained relatively decentralized and fragmented despite increasing international participation. Meanwhile, bibliographic coupling and co-citation analyses suggested an increasingly integrated intellectual structure grounded in ethical finance, halal ecosystem development, governance, sustainability, Islamic social finance, and digital innovation. The literature was strongly centered on the integration of Islamic finance and halal industry ecosystems while incorporating themes such as halal tourism, green and blue economy, ESG, fintech, blockchain, digital finance, and Shariah governance. Thematic evolution analysis further showed a transition toward more technology-oriented and sustainability-driven paradigms. Generally, the field entered a more mature, interconnected, and ecosystem-based stage with growing global relevance across contemporary global economic and sustainability development discussions.

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