Exploring the Dynamics of Maqashid Performance in Indonesian Islamic Banking

Ari Sita Nastiti

Abstract


This study investigated the factors influencing the performance of Islamic banks in Indonesia by utilizing the Maqasid Sharia Index (MSI), specifically designed to assess Islamic bank performance in accordance with maqasid sharia principles. The sample sample was drawn from 57 data points gathered from 12 Islamic commercial banks registered with the Financial Services Authority (Otoritas Jasa Keuangan-OJK) from 2016-2020. Employing a quantitative approach, the study conducted data analysis through multiple linear regression. The results revealed that temporary shirkah funds and Islamic intellectual capital had a significant negative impact on MSI, while Islamic corporate governance exhibited a notably positive effect. This empirical investigation provides valuable insights into the determinants of Islamic bank performance in Indonesia, thereby contributing to the existing body of Islamic banking literature and offering practical implications for enhancing alignment with maqasid sharia through strategic resource optimization. The findings highlight the critical importance of reinforcing Islamic corporate governance and Islamic intellectual capital to enhance the performance of Islamic banks. Furthermore, expanding the scope of research to broader contexts could improve the generalizability of these findings.

============================================================================================================

ABSTRAK - Eksplorasi Dinamika Kinerja Perbankan Syariah Indonesia dengan Indeks Maqasid. Penelitian ini bertujuan untuk mengkaji determinan yang mempengaruhi kinerja perbankan syariah di Indonesia melalui pendekatan Maqasid Sharia Index (MSI). MSI khusus dikembangkan secara khusus untuk mengukur kinerja bank syariah agar lebih akurat karena mengakomodir prinsip-prinsip maqasid syariah. Sampel penelitian diambil dari 57 poin data dari 57 bank umum syariah yang terdaftar di Otoritas Jasa Keuangan (OJK) periode 2016-2020. Penelitian ini menggunakan pendekatan kuantitatif dimana data dianalisis melalui regresi linier berganda. Hasil kajian menunjukkan bahwa dana syirkah temporer dan modal intelektual syariah secara signifikan berpengaruh negatif terhadap MSI, sebaliknya tata kelola perusahaan syariah menunjukkan pengaruh positif yang signifikan. Hasil ini memberikan gambaran tentang determinan kinerja perbankan syariah di Indonesia, sehingga berkontribusi pada literatur perbankan syariah yang ada dan menawarkan implikasi praktis untuk meningkatkan kesesuaian dengan maqasid syariah melalui optimalisasi sumber daya strategis. Temuan ini menekankan pentingnya memperkuat tata kelola perusahaan syariah dan modal intelektual syariah untuk meningkatkan kinerja bank syariah. Untuk dapat meningkatkan generalisasi temuan ini, diperlukan kajian lebih lanjut dalam konteks yang lebih luas.

Keywords


Islamic Bank, Maqasid Sharia, Performance

Full Text:

DOWNLOAD PDF

References


Aisyah, S., Hariadi, B., & Mardiati, E. (2021). The effect of Islamic intellectual capital, corporate governance, and corporate social responsibility disclosure on maqasid sharia performance, with reputation as a moderating variable. International Journal of Research in Business and Social Science (2147- 4478), 10(4), 75–84. https://doi.org/https://doi.org/10.20525/ijrbs.v10i4.1233

Archer, S., & Karim, R. A. A. (2007). Islamic finance: The regulatory challenge. New Jersey: John Wiley & Sons.

Bontis, N. (1998). Intellectual capital: An exploratory study that develops measures and models. Management Decision, 36(2), 63-76.

Cahya, P. A., & Kusumaningtias, R. (2020). Pengaruh Islamic Corporate Governance Dan Intellectual Capital Terhadap Kinerja Bank Umum Sharia. Jurnal Akuntansi, 15(2), 66–79. http://jurnal.unsil.ac.id/index.php/jak

Chapra, M. U. (2008). The Islamic vision of development in the light of Maqasid al-Shariah. Jeddah: IRTI

Dusuki, A. W., & Bouheraoua, S. (2011). The framework of Maqasid al-Shariah and its implication for Islamic finance. Islam and Civilisational Renewal (ICR), 2(2), 316-336.

El-Gamal, M. A. (2006). Islamic finance: Law, economics, and practice. Cambridge: Cambridge University Press.

Farihah, S. M., & Setiawan, S. (2020). Determinan Intellectual Capital terhadap Profitabilitas di Bank Sharia: Pengujian Mediasi Kinerja Keuangan dan Kinerja Non Keuangan. Jurnal Samudra Ekonomi Dan Bisnis, 11(2), 151–165. https://doi.org/10.33059/jseb.v11i2.1996

Farook, S., Hassan, M. K., & Clinch, G. (2012). Profit Distribution Management by Islamic Banks: An Empirical Investigation. The Quarterly Review of Economics and Finance, 52(3), 333–347. https://doi.org/10.1016/j.qref.2012.04.007

Ghozali, I. (2013). Aplikasi Analisis Multivariate dengan Program IBM SPSS 21 (7th ed.). Badan Penerbit Universitas Diponegoro.

Grassa, R. & Matoussi, H. (2014). Corporate governance of Islamic banks: A comparative study between GCC and Southeast Asia countries. International Journal of Islamic and Middle Eastern Finance and Management, 7(3), 346-362. https://doi.org/10.1108/IMEFM-01-2013-0001

Hassan, A., & Lewis, M. K. (2007). Handbook of Islamic banking. London: Edward Elgar Publishing.

Harisnawati, R., Ulum, I., & Syam, D. (2017). Pengaruh Intellectual Capital Performance Terhadap Intensitas Pelaporan Modal Intelektual. Jurnal Reviu Akuntansi Dan Keuangan, 7(1), 941–950. https://doi.org/https://doi.org/10.22219/jrak.v7i1.08

Hartono, N. (2018). Analisis Pengaruh Islamic Corporate Governance (ICG) Dan Intellectual Capital (IC) Terhadap Maqasid Sharia Indeks (MSI) Pada Perbankan Sharia Di Indonesia. Al-Amwal : Jurnal Ekonomi Dan Perbankan Syari’ah, 10(2), 259–282. https://doi.org/10.24235/amwal.v10i2.3249

Hernawan, H. (2018). Pengaruh Islamic Intellectual Capital terhadap Kinerja Maqasid Sharia dengan Corporate Governance sebagai Variabel Pemoderasi [Universitas Islam Indonesia]. https://dspace.uii.ac.id/handle/123456789/7839

Hudaefi, F. A., & Badeges, A. M. (2022). Maqasid al-Shariah on Islamic banking performance in Indonesia: A knowledge discovery via text mining. Journal of Islamic Marketing, 13(10), 2069-2089. https://doi.org/10.1108/JIMA-03-2020-0081

Ibrahim, A. (2023). Metodologi Penelitian Ekonomi dan Bisnis Islam - Edisi Revisi (Q. Aini Ed.). Jakarta: Bumi Aksara.

Ibrahim, A., Amelia, E., Akbar, N., Kholis, N., Utami, S. A., & Nofrianto. (2021). Pengantar Ekonomi Islam (1 ed.). Jakarta: Departemen Ekonomi dan Keuangan Syariah - Bank Indonesia.

Ibrahim, A., & Kamri, N. A. (2016). The Commitment to Islamic Work Ethics among Islamic Banking’s Employees in Aceh. Jurnal Syariah, 24(1), 93-114.

Ibrahim, A., & Kamri, N. A. (2017). The Ethical Practices of Islamic Banking: An Analysis from Customer SatisIbrahim faction Perspective. MIQOT: Jurnal Ilmu-ilmu Keislaman, 41(1).

Kahf, M. (2004). Islamic banks: the rise of a new power alliance of wealth and Shari’ah scholarship. In C. Henry & R. Wilson (Eds.), The politics of Islamic finance (pp. 17-36). Edinburgh University Press.

Kamali, M. H. (1999). Maqasid al-Shariah: The objectives of Islamic law. Islamic Studies, 38(4), 193-208. http://www.jstor.org/stable/20837037

Kamri, N. A., Ramlan, S. F., & Ibrahim, A. (2014). Qur’anic Work Ethics. Journal of Usuluddin, 40(-), 135-172.

Khasanah, A. N. (2016). Pengaruh Intellectual Capital dan Islamicity Performance Index terhadap Kinerja Keuangan Perbankan Sharia di Indonesia. Jurnal Nominal, V(1), 1–18. https://doi.org/https://doi.org/10.21831/nominal.v5i1.11473

Kholid, M. N., & Bachtiar, A. (2015). Pengaruh Dana Shirkah Temporer dan Good Corporate Governance Terhadap Kinerja Maqasid Sharia Bank Sharia di Indonesia. Simposium Nasional Akuntansi, XVIII, 1–25. http://lib.ibs.ac.id/materi/Prosiding/SNA XVIII/makalah/073.pdf

Mansour, W., & Bhatti, M. I. (2018). The New Paradigm of Islamic Corporate Governance. Managerial Finance, 44(5), 513–523. https://doi.org/https://doi.org/10.1108/MF-01-2018-0043

Marheni, & Emawati, L. (2022). Islamic Corporate Governance, Islamic Social Reporting dan Maqasid Sharia Pada Bank Sharia di Indonesia. Jurnal Ilmiah Ekonomi Islam, 8(01), 146–153. https://doi.org/http://dx.doi.org/10.29040/jiei.v8i1.4267

Mohammed, M. O., Razak, D. A., & Fauziah Md Taib. (2008). The Performance Measures of Islamic Banking Based on the Maqasid Framework. IIUM International Accounting Conference (INTAC IV), IV, 1–17.

Mohammed, M. O., & Taib, F. M. (2015). Developing Islamic Banking Performance Measures Based on Maqasid Al-Shari’Ah Framework: Cases of 24 Selected Banks. In Journal of Islamic Monetary Economics and Finance (Vol. 1, Issue 1, pp. 55–77). https://doi.org/https://doi.org/10.21098/jimf.v1i1.483

Mutia, E., & Musfirah, N. (2017). Pendekatan Maqasid Sharia Index sebagai Pengukuran Kinerja Perbankan Sharia di Asia Tenggara (Maqasid Sharia Index Approach as Performance Measurement of Sharia Banking in Southeast Asia). Jurnal Akuntansi Dan Keuangan Indonesia, 14(2), 181–201. http://jaki.ui.ac.id/index.php/index/index

Najjar, A. M. (2003). The Maqasid al-Shariah: A philosophical, historical and legal analysis. Leiden: Brill.

Nisak, B., & Ibrahim, A. (2014). Analisis Manajemen Risiko Pembiayaan Musyarakah Pada Baitul Qiradh Bina Insan Mandiri Banda Aceh. Share: Jurnal Ekonomi dan Keuangan Islam, 3(1).

Nurhayati, S., & Wasilah, A. (2015). Akuntansi Sharia di Indonesia (4th ed.). Jakarta: Penerbit Salemba Empat.

Nurmahadi, N., & Setyorini, C. T. (2018). Maqasid Sharia Dalam Pengukuran Kinerja Lembaga Keuangan Sharia di Indonesia. JAS (Jurnal Akuntansi Sharia), 2(1), 29–55. https://ejournal.stieshariabengkalis.ac.id/index.php/jas/article/view/130

Ramadhan, M. I. B., Abdurahim, A., & Sofyani, H. (2018). Modal Intelektual Dan Kinerja Maqasid Sharia Perbankan Sharia Di Indonesia. Jurnal Akuntansi Dan Keuangan Islam, 6(1), 5–18. https://doi.org/https://doi.org/10.35836/jakis.v6i1.6

Ramadhani, R., & Mutia, E. (2016). Analisis Perbandingan Kinerja Perbankan Sharia Di Indonesia dan Malaysia Ditinjau Dari Maqasid Sharia Index. Simposium Nasional Akuntansi2, 1–24. http://lib.ibs.ac.id/materi/Prosiding/SNA XIX (19) Lampung 2016/makalah/075.pdf

Salman, K. R., & Farid, M. (2016). Pengukuran Kinerja Sosial Berbasis Indeks Maqasid : Kasus di Indonesia. Simposium Nasional Akuntansi XIX, Lampung, 1–25. http://lib.ibs.ac.id/materi/Prosiding/SNA XIX (19) Lampung 2016/makalah/082.pdf

Solikhah, B., Abdul Rohman, H., & Meiranto, W. (2010). Implikasi Intellectual Capital terhadap Financial Performance, Growth, dan Market Value; Studi Empiris dengan Pendekatan Simplistic Specification. Makalah Simposium Nasional Akuntansi XIII Purwokerto, 1–29. https://doi.org/10.1017/CBO9781107415324.004

Sulistyawati, A. I., Ati, H., & Santoso, A. (2020). Telisik Faktor Pengaruh Kinerja Maqasid Sharia Bank Sharia Di Indonesia. Jurnal Ilmiah Ekonomi Islam, 6(2), 142–150. https://doi.org/10.29040/jiei.v6i2.986

Ulum, I. (2013). Model Pengukuran Kinerja Intellectual Capital Dengan iB-VAIC Di Perbankan Sharia. Inferensi: Jurnal Penelitian Sosial Keagamaan, 7(1), 185. https://doi.org/10.18326/infsl3.v7i1.185-206

Wahyuni, S. (2020). Kinerja Maqasid Sharia dan Faktor-Faktor Determinan. Surabaya: Scopindo Media Pustaka.

Yuri, I. A., Rahman, A., Fontanela, A., & Syamsurizal. (2021). The effect of good corporate governance on financial performance in sharia commercial banks in Indonesia. Review of Islamic Economics and Finance (RIEF), 4(1), 18–32. https://doi.org/https://doi.org/10.17509/rief.v4i1.34801

Zulpahmi, Z., Sumardi, S., & Andika, A. (2018). Dana Shirkah Temporer Dan Corporate Governance Mechanism Mempengaruhi Kinerja Maqasid Sharia Bank Sharia Di Indonesia. Akuntabilitas: Jurnal Ilmu Akuntansi, 11(1), 35–52. https://doi.org/https://doi.org/10.15408/akt.v11i1.8828




DOI: http://dx.doi.org/10.22373/share.v12i2.16950

Refbacks

  • There are currently no refbacks.


Bookmark and Share


Copyright (c) 2023 Ari Sita Nastiti

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.