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This study aims to address the noted gap in comprehensive overviews detailing the developmental trajectory of Islamic finance (IF) as an interdisciplinary academic field.

The study introduces a unique approach using the combined methodologies of co-word analysis and main path analysis (MPA) by examining a broad collection of IF research articles.

The investigation identifies dominant themes and foundational works that have influenced the IF discipline. The data reveals prominent areas such as Shariah governance, financial resilience, ethical dimensions and customer-centric frameworks. The MPA offers detailed insights, narrating a journey from the foundational principles of IF to its current challenges and opportunities. This journey covers harmonizing religious beliefs with contemporary financial models, changes in regulatory landscapes and the continuous effort to align with broader socioeconomic aspirations. Emerging areas of interest include using new technologies in IF, standardizing global Islamic banking and assessing its socioeconomic effects on broader populations.

This study represents a pioneering effort to map out and deepen the understanding of the IF field, highlighting its dynamic evolution and suggesting potential avenues for future academic exploration.

Literature on the board diversity of Islamic banks (IB) found limited knowledge of the “deep-level” attribute. This study aims to explain the impact of the board diversity attributes (education levels, educational backgrounds and the interactions between these two attributes of diversity) on profitability.

The research sample is 37 fully flagged IBs from five Southeast Asian countries, covering nine years (2010–2019). Data were analyzed using the two-step system generalized moment (2SYS-GMM) method.

We found that the cognitive conflict between the board of directors (BOD) and the Shariah Supervisory Board (SSB), which has heterogeneity in its education level and educational background, positively affects profitability. These results reinforce the resources dependence theory (RDT) approach that having boards with heterogeneous characteristics is beneficial for IB.

The findings of this study would offer useful information for Islamic banking authorities to revise or formulate rules and guidelines and make a greater effort to implement corporate governance (CG) reform measures by determining educational level and background as a requirement to become a member of a BOD or an SSB.

This paper contributes in three ways: (1) we use the “deep-level” diversity attributes of the BOD and the SSB, (2) it focuses on cognitive conflict in boards by presenting the expertise diversity of the BOD and SSB and (3) we interact with the level of education to evaluate the effect of a cognitive conflict.

This research investigates the Islamic banks’ intermediation role (e.g. branches and deposits) in financing. It also examines how financing contributes to the regions' economic growth and poverty alleviation as a predictor and mediator variable.

A total of 297 observations were extracted from 33 Indonesian districts and 14 Islamic banks during the period 2012–2020. Fixed-effect regression analysis was used to examine variable’s interactions.

The empirical results indicate that Islamic banks have adopted a channelling role towards redistributing capital from lender to borrower. Besides, there are crucial roles in developing economies and reducing poverty at the district level. This study also reinforces the critical role of financing in mediating the relationship between branches and deposits as predictor variables and GDP and poverty as outcome variables.

The current study was limited to Indonesian Islamic banks and the district’s perspective. Future research needs to cover sub-districts and other poverty measurements (e.g. human education and development perspectives), including conventional and Islamic banks. It can help practitioners, regulators and researchers observe the dynamic behaviour of the banking sector to understand its role in the economic and social fields.

Bank managers and regulators should promote branches, deposits and financing. It also enlightens people about the essential role of Islamic banks and their fundamental operations in business and economics.

This study contributes to economic literature, bank managers and local governments' decision-making processes by developing and testing an economic growth and poverty model.