Sustainable Development of Islamic Banking: Based on Social, Economic, and Environmental Perspective
It is essential to elaborate on the three main pillars of sustainable development to reach a level of development that is free from conflict of interests. Conflict of interests might arise when to gain economic welfare the environmental sustainability, whether natural or social, must be at stake. The three main pillars are economic, social, and environmental pillars. Greening Business Management is management that implements the three main pillars of sustainable development. To keep up with the development, Islamic Banking in Indonesia should apply the management with the basic principles of Islamic Economy that is Maqasid al-Sharia. Jan (2019) suggests an assessment framework of sustainable development in the Islamic context by altering GRI (Global Reporting Initiative) framework based on Maqasidal-Sharia.