GREEN ISLAMIC FINTECH ECOSYSTEM (GIFE) MODEL BASED ON ESG-MAQASID FOR SEMI-RURAL MSME EMPOWERMENT IN KUNINGAN REGENCY, INDONESIA IN THE PERSPECTIVE OF SUSTAINABLE DEVELOPMENT GOALS (SDGS)
DOI:
https://doi.org/10.33102/gsy64d66Keywords:
Islamic green fintech, ESMIF, Micro Smaal Medium Enterprise, GIFE, Kuningan RegencyAbstract
This study designs and validates the Green Islamic Fintech Ecosystem (GIFE) model, integrating Environmental, Social, and Governance (ESG) frameworks with Maqasid Syariah as a halal investment instrument and vehicle for Micro, Small, and Medium Enterprise (MSME) empowerment in Kuningan Regency, West Java, Indonesia. The GIFE model is explicitly designed as a contribution toward achieving the Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), SDG 10 (Reduced Inequalities), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals). Employing a mixed methods design combining quantitative secondary data analysis across twenty-five cross-sectoral indicators and qualitative inquiry framed by the Unified Theory of Acceptance and Use of Technology (UTAUT), this study uncovers five structural dimensions of adoption barriers that collectively constitute a triple exclusion pattern among semi-rural MSMEs. Quantitative findings reveal a 62.14-percentage-point Islamic financial inclusion gap between conventional inclusion (75.02%) and Islamic inclusion (12.88%), alongside a national MSME green economy potential of IDR 1,596 trillion by 2030 and 4 million projected green jobs (Bappenas, 2025). The GIFE model is structured around three mutually reinforcing pillars: the value pillar (ESG-Maqasid Syariah Integration Framework, ESMIF), the technology pillar (integrated low-bandwidth digital platform), and the ecosystem pillar (multi- stakeholder institutional network). The study recommends harmonization of POJK No. 51/2017 with TKBI Version 2, establishment of a green lane within the OJK regulatory sandbox, integrated mentoring through the pesantren network, and locally contextualized emission- based fiscal incentive schemes—all oriented toward accelerating SDGs achievement in Kuningan Regency
Downloads
References
Alalwan, A. A., Dwivedi, Y. K., & Rana, N. P. (2018). Factors influencing adoption of mobile banking by Jordanian bank customers: Extending UTAUT2 with trust. International Journal of Information Management, 37(3), 99–110. https://doi.org/10.1016/j.ijinfomgt.2017.01.002
Asian Development Bank (ADB). (2021). Greening micro, small, and medium-sized enterprises: A guide to green finance for development financial institutions. ADB.
Auda, J. (2008). Maqasid Al-Shariah as philosophy of Islamic law: A systems approach. International Institute of Islamic Thought.
Badan Pusat Statistik Kabupaten Kuningan. (2025). Kabupaten Kuningan dalam angka 2025 [Kuningan in Figures 2025]. BPS Kabupaten Kuningan.
Bappenas. (2025). Green economy projection for Indonesian MSMEs 2030. Badan Perencanaan Pembangunan Nasional.
Bank Indonesia. (2023, October). Macroprudential liquidity incentive policy (KLM) for green financing. Bank Indonesia.
Bank Syariah Indonesia. (2025). Quarterly financial report Q1 2025. PT Bank Syariah Indonesia Tbk.
Bloomberg Intelligence. (2023). ESG assets may hit $53 trillion by 2025, a third of global AUM. Bloomberg.
BSI Maslahat. (2026, April). Sustainable palm sugar program: Environmental impact report. Yayasan BSI Maslahat.
Chapra, M. U. (2008). The Islamic vision of development in the light of Maqasid al-Shariah. Islamic Research and Training Institute, IDB.
Climate Bonds Initiative. (2023). Green sukuk global market report 2022. Climate Bonds Initiative.
Creswell, J. W., & Plano Clark, V. L. (2018). Designing and conducting mixed methods research (3rd ed.). SAGE Publications.
Dinas Koperasi, Perdagangan, dan Perindustrian Kabupaten Kuningan. (2025, November). MSME data of Kuningan Regency 2025. Diskopdagperin Kab. Kuningan.
Ding, N., Zheng, S., & Sun, X. (2022). The role of fintech in promoting green finance. Frontiers in Environmental Science, 10, 916988. https://doi.org/10.3389/fenvs.2022.916988
Euromoney Islamic Finance. (2024). BSI green financing report 2024. Euromoney.
Institute for Essential Services Reform (IESR). (2024). GHG emissions of Indonesia's MSME sector 2024. IESR.
International Finance Corporation (IFC). (2021). MSME finance gap 2020: Assessment of the shortfalls and opportunities in financing MSMEs in emerging markets. IFC World Bank Group.
Kementerian Keuangan RI. (2025). Climate budget tagging report 2025: Indonesia's climate finance progress. Ministry of Finance of the Republic of Indonesia.
Kementerian Lingkungan Hidup dan Kehutanan (KLHK). (2025). Nationally determined contribution (NDC) Indonesia: Updated 2030 target. Ministry of Environment and Forestry.
Maarif, M. S., Nugroho, A., & Hafiz, A. (2025). ESG-Maqasid Syariah integration in Islamic financial institutions: A conceptual framework. Journal of Islamic Finance, 14(1), 45–62.
Nugroho, A., Maarif, M. S., & Pratama, D. (2025). Hifdz al-bi'ah as the sixth maqasid: Contemporary fiqh study and its implications for Islamic green finance. Journal of Islamic Economics, 16(2), 112– 134.
OJK-AFSI. (2024). Global Islamic fintech report 2023/2024. Otoritas Jasa Keuangan & Asosiasi Fintech Syariah Indonesia.
Otoritas Jasa Keuangan. (2017). POJK No. 51/POJK.03/2017 on the implementation of sustainable finance for financial service institutions, issuers, and public companies. OJK.
Otoritas Jasa Keuangan. (2018). POJK No. 13/POJK.02/2018 on digital financial innovation in the financial services sector. OJK.
Otoritas Jasa Keuangan & BPS. (2024). National survey on financial literacy and inclusion (SNLIK) 2024. OJK.
Otoritas Jasa Keuangan. (2025). Indonesian sustainable finance taxonomy (TKBI) version 2. OJK.
Ozili, P. K. (2022). Financial inclusion and sustainable development: A review and research agenda. Sustainable Development, 30(5), 1003–1013. https://doi.org/10.1002/sd.2245
Raza, S. A., Umer, A., Qureshi, M. A., & Dahri, A. S. (2019). Internet banking and mobile banking consumers' perception in Pakistan: A study of branchless banking. International Journal of Bank Marketing, 37(2), 467–488.
ResearchGate. (2018). Life cycle assessment of tofu production in Kuningan, West Java: Environmental impact analysis. Environmental Science and Technology Research, 12(3), 78–91.
ScienceDirect. (2024). Rice straw bioenergy and CO₂ emission reduction potential in Indonesia's agricultural sector. Renewable and Sustainable Energy Reviews, 189, 113892.
United Nations. (2015). Transforming our world: The 2030 agenda for sustainable development. United Nations General Assembly Resolution A/RES/70/1.
United Nations Development Programme (UNDP). (2023). SDG integration in Islamic finance: Opportunities and pathways for OIC member states. UNDP.
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425–478. https://doi.org/10.2307/30036540
