Integrating sustainable Islamic social finance: An Analytical Network Process using the Benefit Opportunity Cost Risk (ANP BOCR) framework: The case of Indonesia

Tika Widiastuti, Anidah Robani*, Puji Sucia Sukmaningrum, Imron Mawardi, Sri Ningsih, Sri Herianingrum, Muhammad Ubaidillah Al-Mustofa

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

8 Citations (Scopus)


The utilization of Islamic social finance instruments is far behind what is expected. To realize its full potential, Islamic social finance instruments must be integrated. This study examined solutions and priority strategies for integrating sustainable Islamic social finance that could be implemented in the short and long term using the Benefit, Opportunity, Cost, and Risk (BOCR) framework, which includes six aspects: Governance, sustainable financing, institutional aspect, human resources, regulations, and supporting technology. This qualitative research employed the Analytic Network Process (ANP) method using the benefit, opportunity, cost, and risk analysis. The data were obtained mainly through focus group discussions and in-depth interviews with respondents among academics, practitioners, associations, regulators, and community leaders. The respondents were selected for their expertise and experience in the selected topic. The data were processed using the Microsoft Excel and Super Decision software. There are several findings worth considering from the analysis. First, the highest priority in integrating Islamic social finance aspects are human resources (0.97), regulation (0.86), and technology (0.76). Second, based on the short- and long-term analysis, financial integration through sustainable financing (0.01 and 1.44, respectively) and improving human resource quality through certification and training (0.01 and 1.56, respectively) is a priority solution and strategy to integrate sustainable Islamic social finance. Meanwhile, according to expert judgments, integrating national data (0.24) and optimizing technology use (0.18) are priority solutions and strategies. The findings emphasize the critical role of improving human resource quality to utilize technology, with experts identifying a national data integration as the most critical solution. As a result, relevant stakeholders are concerned about technology management training for Islamic philanthropic managers, with the goal of maximizing the potential of technology’s growing role and adoption.

Original languageEnglish
Article numbere0269039
JournalPLoS ONE
Issue number5 May
Publication statusPublished - May 2022
Externally publishedYes


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