A Systematic Literature Review on the Islamic Capital Market: Insights Using the PRISMA Approach

Abstract

This paper employs the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) approach to conduct a comprehensive systematic literature review on the Islamic capital market (ICM). The ICM, governed by Shariah principles, has garnered considerable attention in both academic and practitioner spheres. Through the systematic analysis of scholarly articles, this review synthesizes existing literature on the ICM, examining its structure, development, regulatory frameworks, financial instruments, performance evaluation, and integration with conventional financial markets. This paper identifies gaps in the literature and proposes avenues for future research, aiming to enhance understanding and promote further inquiry into the ICM's role in global finance.