A Behavioural Fuzzy Decision Support System to Generate Strategies for the Improvement of Islamic Social Finance System

Abstract

This study aims to identify priority strategies for increasing the effectiveness of the Islamic social finance system. In this context, a new decision-making model is developed to identify key factors. A literature review resulted in the identification of 5 different strategies and 12 different criteria for this process. Opinions were sought from 10 different experts on these factors. The SWIEC technique was used to calculate the importance weights of the criteria. The MARCOS approach is used to determine the most effective strategies. In addition, behavioral leadership fuzzy sets developed by the authors are integrated into the model. The main contribution of this study to the literature is the identification of key strategies for improving the performance of the Islamic social finance system through an original decision-making model. This significantly helps reduce uncertainty regarding this issue. According to the results, the development of zakat institutions is the priority strategy that should be implemented to improve the performance of this system. The establishment of a central zakat authority, the creation of local zakat organizations, and the development of digital zakat platforms should be considered in this process.