Exploring the Significance of Intangible Assets in Islamic Finance: A Systematic Literature Review

Abstract

Intangible assets (IA) are becoming increasingly important as a source of financial value, especially for companies and developing countries. However, their acceptance in Islamic finance remains limited and many aspects have not yet been explored. This study aims to identify the areas of IA that have been examined from a Shariah perspective, those that remain underexplored, and the domains that deserve further attention. A Systematic Literature Review (SLR) was conducted using the SALSA framework (Search, Appraisal, Synthesis, Analysis), while reporting followed the PRISMA guideline. Articles were retrieved from Scopus, Google Scholar, MyJurnal and several other databases, covering the period from 2000 to 2025. More than 100 articles were found, but only 25 met the inclusion criteria and were analysed thematically. The findings revealed four key themes: the conceptualisation and recognition of intellectual property as al-m?l; Islamic obligations concerning ownership boundaries and socio-ethical justice; financing issues, collateral (al-rahn), and modern Islamic financial instruments; and the use of intellectual property in socio-legal contexts such as inheritance and matrimonial property. The review concludes that clearer Shariah guidelines are required to support the recognition and use of IA in Islamic finance, which may reduce uncertainty, strengthen contemporary muamalat theory, and provide a foundation for further innovation.