Application of Blockchain Technology in Islamic Social Finance: A Scientometric Analysis

Abstract

The integration of blockchain technology within Islamic Social Finance (ISF) has emerged as a transformative approach to enhancing transparency, operational efficiency, and accountability in socio-economic development. Despite growing scholarly interest, the existing literature remains fragmented and lacks a cohesive analytical framework that reconciles technological capabilities with Islamic ethical principles. This study synthesizes the current state of research through a hybrid methodology, integrating bibliometric analysis with a Systematic Literature Review (SLR) in accordance with PRISMA guidelines. Utilizing data from the Scopus and Web of Science databases (2018–2024), the research is theoretically grounded in a synthesis of the Technology Acceptance Model (TAM) and the Maqāṣid al-Sharīʽah framework. This dual-lens approach offers a novel perspective on the adoption and theological relevance of blockchain within Islamic social finance institutions. The findings demonstrate that blockchain significantly improves governance and efficiency in the management of Zakāt and Waqf. Scientometric results identify key contributors, noting A. Muneeza as the most prolific author, the University of Malaya as the leading institution, and the ISRA International Journal of Islamic Finance as the primary publication outlet. However, the analysis suggests the field is still in its nascent stages, characterized by a dearth of empirical and cross-country investigations. This study contributes the first integrated scientometric synthesis of blockchain in ISF, offering critical insights for regulators and practitioners while outlining a future research agenda focused on empirical validation and technological convergence