ABU ZAHRAH’S MAQASID SHARIA MODEL AS A PERFORMANCE MEASUREMENT SYSTEM

Muhammad Syafii Antonio, Sugiyarti Fatma Laela, Thuba Jazil

Abstract


Abstrak: Maqasid Syariah Abu Zahra sebagai Model Pengukuran Kinerja. Penelitian ini berupaya untuk menganalisis model Maqasid Syariah Abu Zahrah sebagai sistem pengukuran kinerja dan menggunakannya untuk mengevaluasi kinerja bank syariah. Metode yang digunakan adalah kombinasi tinjauan pustaka dan survei terhadap 97 bank Syariah di Indonesia. Penelitian ini menemukan tiga dimensi maqasid shariah, yaitu pendidikan, keadilan, dan kesejahteraan masyarakat. Meskipun demikian, penelitian ini juga menemukan bahwa secara umum bank syariah belum mencapai kinerja maqasid syariah secara optimal. Dimensi pendidikan masih memiliki kinerja paling rendah dibandingkan kedua dimensi lainnya.

 

Abstract: Abu Zahrah’s  Maqasid Sharia Model as a Performance Measurement System. This study try to analyze the Abu Zahrah’s maqasid sharia model as a performance measurement system and use it to evaluate the performance of Islamic banks. The method used is a combination of a literature review and a survey of 97 Islamic banks in Indonesia. This study finds three dimensions of maqasid sharia. These are education, justice and community welfare. However, this study also finds that in general, Islamic banks have not yet achieved optimal maqasid sharia performance. The education dimension still has the lowest performance compared to the other two dimensions.


Keywords


islamic banks; maqasid sharia; performance measurement

References


Abdullah, W. A. W., Percy, M., & Stewart, J. (2013). Shari'ah Disclosures in Malaysian and Indonesian Islamic Banks: The Shari'ah Governance System. Journal of Islamic Accounting and Business Research, 4(2), 100-131. https://doi.org/10.1108/JIABR-10-2012-0063

Adrutdin, K. F., Gadar, K., Rahim, N. S. A., & Hasim, M. A. (2020). Customer Education in Islamic Banking in Malaysia. Journal of Critical Reviews, 7(8), 127–131. https://doi.org/10.31838/jcr.07.08.26

Ahmed, E. R., Islam, M. A., Alabdullah, T. T. Y., & Amran, A. B. (2018). Proposed the Pricing Model as an Alternative Islamic Benchmark. Benchmarking: An International Journal, 25(8), 2892–2912. https://doi.org/10.1108/BIJ-04-2017-0077

Al-Attas, S. M. N. (1980). The Concept of Education in Islam. Library of Islom Ltd.

Ali, M. M., & Hassan, R. (2020). Survey on Sharīʿah Non-Compliant Events in Islamic Banks in the Practice of Tawarruq Financing in Malaysia. ISRA: International Journal of Islamic Finance, 12(2), 151-169. https://doi.org/10.1108/IJIF-07-2018-0075

Alkhan, A. M., & Hassan, M. K. (2020). Does Islamic Microfinance Serve Maqāsid Al-Shari'a? Borsa Istanbul Review, 20(4), 301-312. https://doi.org/10.1016/j.bir.2020.07.002

Alziyadat, N., & Ahmed, H. (2019). Ethical Decision-Making in Islamic Financial Institutions in Light of Maqasid Al-Sharia: A Conceptual Framework. Thunderbird International Business Review, 61(5), 707-718. https://doi.org/10.1002/tie.22025

Amaroh, S., & Masturin, M. (2018). The Determinants of Maqasid Sharia Based Performance of Islamic Banks in Indonesia. Iqtishadia – Jurnal kajian Ekonomi dan Bisnis Islam, 11(2), 354–370. https://doi.org/10.21043/iqtishadia.v11i2.3961

Antonio, M. S., Sanrego, Y. D., & Taufiq, M. (2012). An Analysis of Islamic Banking Performance: Maqashid Index Implementation in Indonesia and Jordania. Journal of Islamic Finance, 1(1), 12–29.

Baehaqi, A., Birton, M. N. A., & Hudaefi, F. A. (2020). Time Value of Money in Islamic Accounting Practice: A Critical Analysis from Maqāṣid Al-Sharī‘Ah. Journal of Islamic Accounting and Business Research, 11(9), 2035-2052. https://doi.org/10.1108/JIABR-09-2018-0155

Bakhtiar, J., Anwar, S., & Anisa, F. (2018). Optimization Strategy of Laku Pandai Policy in Islamic Bank: A Case Study. Tazkia Islamic Finance and Business Review, 11(2), 127–144. https://doi.org/10.30993/tifbr.v11i2.140

Cakhyaneu, A. (2018). Pengukuran Kinerja Bank Umum Syariah di Indonesia Berdasarkan Sharia Maqashid Index (SMI). Amwaluna: Jurnal Ekonomi dan Keuangan Syariah, 2(2), 154-165. https://doi.org/10.29313/amwaluna.v2i2.3753

Cebeci, I. (2012). Integrating the Social Maslaha into Islamic Finance. Accounting Research Journal, 25(3), 166–184. https://doi.org/10.1108/10309611211290158

Choudhury, M. A. (2015). Res Extensa et Res Cogitans de Maqasid As-Shari’ah. International Journal of Law and Management, 57(6) 662-693. https://doi.org/10.1108/IJLMA-07-2014-0046

Choudhury, M .A., & Hoque, M. N. (2017). Shari’ah and Economics: A Generalized System Approach. International Journal of Law and Management, 59(6), 993-1012. https://doi.org/10.1108/IJLMA-07-2016-0067

Crane, A., Henriques, I., & Husted, B. W. (2018). Quants and Poets: Advancing Methods and Methodologies in Business and Society Research. Business & Society, 57(1), 3–25. https://doi.org/10.1177/0007650317718129

Dewindaru, D., Saleh, S., & Muhammad, R. (2019). Karakteristik Dewan Pengawas sebagai Determinan Kinerja Sosial Bank Syariah. Jurnal Akuntansi Multiparadigma, 10(3), 468-481. https://doi.org/10.21776/ub.jamal.2019.10.3.27

Diaw, A. (2015). The Global Financial Crisis and Islamic Finance: A Review of Selected Literature. Journal of Islamic Accounting and Business Research, 6(1), 94-106. https://doi.org/10.1108/JIABR-03-2012-0015

Fakis, A., Hilliam, R., Stoneley, H., & Townend, M. (2014). Quantitative Analysis of Qualitative Information from Interviews: A Systematic Literature Review. Journal of Mixed Methods Research, 8(2), 139–161. https://doi.org/10.1177/1558689813495111

Farooq, M. O. (2015). Islamic Finance and Debt Culture: Treading the Conventional Path? International Journal of Social Economics, 42(12), 1168-1195. https://doi.org/10.1108/IJSE-09-2013-0197

Fauzi, A. A., & Suryani, T. (2019). Measuring the Effects of Service Quality by Using CARTER Model Towards Customer Satisfaction, Trust and Loyalty in Indonesian Islamic banking. Journal of Islamic Marketing, 10(1), 269-289. https://doi.org/10.1108/JIMA-04-2017-0048

Finfgeld-Connett, D. (2014). Use of Content Analysis to Conduct Knowledge-Building and Theory-Generating Qualitative Systematic Reviews. Qualitative Research, 14(3), 341–352. https://doi.org/10.1177/1468794113481790

Ghafar, A., & Tohirin, A. (2010). Islamic Law and Finance. Humanomics, 26(3), 178–199. https://doi.org/10.1108/08288661011074954

Hartono, S., & Sobari, A. (2017). Sharia Maqashid Index as a Measuring Performance of Islamic Banking: A More Holistic Approach. Corporate Ownership and Control, 14(2), 193–201. https://doi.org/10.22495/cocv14i2c1p5

Hasan, H., Ali, S. S., & Muhammad, M. (2018). Towards a Maqasid al-Shariah Based Development Index. Journal of Islamic Business and Management, 8(1), 20-36. https://doi.org/10.26501/jibm/2018.0801-002

Herlyanto, F. D., & Oktavendi, T. W. (2019). Meretas Kinerja Maqashid Syariah pada Bank Umum Syariah Indonesia. El Muhasaba: Jurnal Akuntansi, 10(1), 77-89. https://doi.org/10.18860/em.v10i1.5929

Hidayat, R., Oktaviani, Y., & Aminudin, A. (2019). Financial Performance of Islamic Banking in Indonesia with Maqasid Shariah Approach. Manajemen Bisnis, 9(1). https://doi.org/10.22219/jmb.v9i1.9442

Horton, L. (2020). Making Qualitative Data More Visible in Policy: A Critical Appraisal of Meta-Synthesis. Qualitative Research, 20(5), 534–548. https://doi.org/10.1177/1468794119881953

Hosen, M. N., Jie, F., Muhari, S., & Khairman, M. (2019). The Effect of Financial Ratios, Maqasid Sharia Index, and Index of Islamic Social Reporting to Profitability of Islamic Bank in Indonesia. Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 11(2), 201–222. https://doi.org/10.15408/aiq.v11i2.11588

Ishak, M. S. I. (2019). The Principle of Maṣlaḥah and Its Application in Islamic Banking Operations in Malaysia. ISRA: International Journal of Islamic Finance, 11(1), 137–146. https://doi.org/10.1108/IJIF-01-2018-0017

Iswanaji, C., & Wahyudi, M. (2017). Formalitas Fikih dalam Penerapan Akuntansi Syariah Aliran Pragmatis. Jurnal Akuntansi Multiparadigma, 8(3), 583-599. https://doi.org/10.18202/jamal.2017.12.7075

Jazil, T., & Syahrudin, S. (2015). The Performance Measures of Selected Malaysian and Indonesian Islamic Banks Based on the Maqasid Al-Shari’ah Approach. Ijtihad : Jurnal Hukum dan Ekonomi Islam, 7(2), 279–301. https://doi.org/10.21111/ijtihad.v7i2.89

Kamla, R., & Rammal, H. G. (2013). Social Reporting by Islamic Banks: Does Social Justice Matter? Accounting, Auditing & Accountability Journal, 26(6), 911-945. https://doi.org/10.1108/AAAJ-03-2013-1268

Karnawijaya, N. (2019). Optimization of the Government’s Role in Supporting the Socialization Strategy of Sharia Pawn Products. Ikonomika: Jurnal Ekonomi dan Bisnis Islam, 4(1), 1–12. https://doi.org/10.24042/febi.v4i1.3162

Khatib, S. (2018). Konsep Maqashid Al-Syari`Ah: Perbandingan antara Pemikiran Al-Ghazali dan Al-Syathibi. Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi dan Keagamaan, 5(1), 47–62. https://doi.org/10.29300/mzn.v5i1.1436

Laela, S. F., Rossieta, H., Wijanto, S. H., & Ismal, R. (2018). Management Accounting-Strategy Coalignment in Islamic Banking. International Journal of Islamic and Middle Eastern Finance and Management, 11(1), 667–694. https://doi.org/10.1108/IMEFM-04-2017-0088

Mergaliyev, A., Asutay, M., Avdukic, A., & Karbhari, Y. (2019). Higher Ethical Objective (Maqasid al-Shari’ah) Augmented Framework for Islamic Banks: Assessing Ethical Performance and Exploring Its Determinants. Journal of Business Ethics, 159(4), 433-458. https://doi.org/10.1007/s10551-019-04331-4

Mohammad, M. O., & Shahwan, S. (2013). The Objective of Islamic Economic and Islamic Banking in Light of Maqasid Al-Shariah: A Critical Review. Middle East Journal of Scientific Research, 13, 75–84. https://doi.org/10.5829/idosi.mejsr.2013.13.1885

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

Mohammed, M. O., Tarique, K. M., & Islam, R. (2015). Measuring the Performance of Islamic Banks Using Maqāṣid-Based Model. Intellectual Discourse, 23(2015), 401–424.

Muchlis, S., & Sukirman, A. (2016). Implementasi Maqashid Syariah dalam Corporate Social Responsibility di PT Bank Muamalat Indonesia. Jurnal Akuntansi Multiparadigma, 7(1), 120-130. https://doi.org/10.18202/jamal.2016.04.7011

Mulato, T. (2018). Penerapan Pengembangan Sumber Daya Manusia Islami pada Unit Usaha Syariah. Cakrawala: Jurnal Studi Islam, 13(1), 19-34. https://doi.org/10.31603/cakrawala.v13i1.1993

Mulawarman, A. D., & Kamayanti, A. (2018). Towards Islamic Accounting Anthropology: How Secular Anthropology Reshaped Accounting in Indonesia. Journal of Islamic Accounting and Business Research, 9(4), 629-647. https://doi.org/10.1108/JIABR-02-2015-0004

Mutia, E, & Musfirah, N. (2017). Pendekatan Maqashid Shariah Index sebagai Pengukuran Kinerja Perbankan Syariah di Asia Tenggara. Jurnal Akuntansi dan Keuangan Indonesia, 14(1), 181–201. https://doi.org/10.21002/jaki.2017.10

Nastiti, N. D., & Kasri, R. A. (2019). The Role of Banking Regulation in the Development of Islamic Banking Financing in Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 12(5), 643-662. https://doi.org/10.1108/IMEFM-10-2018-0365

Nawawi, & Juandi, W. (2020). Konstruksi Maqashid Syari’ah Progresif: Dari Maqashid Ekslusif menuju Insklusif. Lisan Al-Hal: Jurnal Pengembangan Pemikiran dan Kebudayaan, 14(1), 109-136. https://doi.org/10.35316/lisanalhal.v14i1.604

Nor, S. (2016). Islamic Social Bank: An Adaptation of Islamic Banking? Jurnal Pengurusan, 46, 43-52. https://doi.org/10.17576/pengurusan-2016-46-05

Nurasyiah, A. (2018). An Empirical Study of Islamic Microfinance Performance for Poor Family: Maqashid Al-Sharia Perspective. AFEBI Islamic Finance and Economic Review, 3(1), 46-62. https://doi.org/10.47312/aifer.v3i01.253

Nurhadi, N. (2019). The Importance of Maqashid Sharia as a Theory in Islamic Economic Business Operations. International Journal of Islamic Business and Economics, 3(2), 130-145. https://doi.org/10.28918/ijibec.v3i2.1635

Qoyum, A. (2018). Maqasid Ash-Shariʻah Framework and the Development of Islamic Finance Products: The Case of Indonesia. Tazkia Islamic Finance and Business Review, 12(2), 169–188. https://doi.org/10.30993/tifbr.v12i2.150

Rusydiana, A., & Al-Parisi, S. (2016). The Measurement of Islamic Bank Performance: A Study Using Maqasid Index and Profitability. Global Review of Islamic Economics and Business, 4(1), 1-14. https://doi.org/10.14421/grieb.2016.041-01

Safitri, R., & Mukhibad, H. (2020). The Influence of Islamic Corporate Governance on the Performance of Maqashid Sharia in Sharia Banking in Indonesia. Accounting Analysis Journal, 9(2), 88-94. https://doi.org/10.15294/aaj.v9i2.36628

Sakti, M. R. P., & Mohamad, A. (2018). Efficiency, Stability and Asset Quality of Islamic vis-à-vis Conventional Banks: Evidence from Indonesia. Journal of Islamic Accounting and Business Research, 9(3), 378-400. https://doi.org/10.1108/JIABR-07-2015-0031

Santoso, S. B., & Astuti, H. J. (2019). A Framework for Conceptualizing Islamic Bank Socialization in Indonesia. Journal of Critical Reviews, 6(4), 43–47. https://doi.org/10.22159/jcr.06.04.08

Saoqi, A. A. Y. (2017). Analysing the Performance of Islamic Banking in Indonesia and Malaysia: Maqasid Index Approach. Jurnal Ekonomi Islam, 8(1), 29–50.

Sarif, A., & Ahmad, R. (2018). Konsep Maslahat dan Mafsadah menurut Imam al-Ghazali. Tsaqafah: Jurnal Peradaban Islam, 13(2), 353-368. https://doi.org/10.21111/tsaqafah.v13i2.1183

Setianingrum, A., Madjid, S., & Santosa, P. W. (2020). How is the Real Sector Index Used for Pricing? Jurnal Akuntansi Multiparadigma, 11(2), 246-264. https://doi.org/10.21776/ub.jamal.2020.11.2.15

Setiyobono, R., Ahmar, N., & Darmansyah. (2019). Pengukuran Kinerja Perbankan Syariah Berbasis Maqashid Syariah Index Bank Syariah di Indonesia: Abdul Majid Najjar versus Abu Zahrah. Jurnal Riset Akuntansi dan Perpajakan, 6(2), 111–126. https://doi.org/10.35814/jrap.v6i02.1249

Shinkafi, A. A., & Ali, N.A. (2017). Contemporary Islamic Economic Studies on Maqasid Shari’ah: A Systematic Literature Review. Humanomics, 33(3), 315-334. https://doi.org/10.1108/H-03-2017-0041

Siddiqui, M. F., Jan, S., & Ullah, K. (2019). Maqasid Al Shariah and Stakeholders’ Wellbeing in Islamic Banks: A Proposed Framework. Business & Economic Review, 11(1), 83–102. https://doi.org/10.22547/ber/11.1.4

Soediro, A, & Meutia, I. (2018). Maqasid Sharia as a Performance Framework for Islamic Financial Institutions. Jurnal Akuntansi Multiparadigma, 9(1), 70–85. https://doi.org/10.18202/jamal.2018.04.9005

Sofyan, A. S., Said, S., & Abdullah, M. W. (2019). Financing Risk Measurement with Maqashid Al-Sharia Qualitative Risk. Share: Jurnal Ekonomi dan Keuangan Islam, 8(1). https://doi.org/10.22373/share.v8i1.4355

Sutrisno, & Widarjono, A. (2018). Maqasid Sharia Index, Banking Risk and Performance Cases in Indonesian Islamic Banks. Asian Economic and Financial Review, 8(9), 1175-1184. https://doi.org/10.18488/journal.aefr.2018.89.1175.1184

Suzuki, Y., Uddin, S. M. S., & Sigit, P. (2019). Do Islamic Banks Need to Earn Extra Profits? A Comparative Analysis on Banking Sector Rent in Bangladesh and Indonesia. Journal of Islamic Accounting and Business Research, 10(3), 369-381. https://doi.org/10.1108/JIABR-01-2017-0003

Toriquddin, M. (2014). Teori Maqashid Syari’ah Perspektif Al-Syatibi. Jurnal Syariah dan Hukum, 6(1), 33–47. https://doi.org/10.18860/j-fsh.v6i1.3190

Ullah, S., & Kiani, A. (2017). Maqasid-Al-Shariah-Based Socio-Economic Development Index (SCECDI): The Case of Some Selected Islamic Economies. Journal of Emerging Economies and Islamic Research 5(3), 32-44. https://doi.org/10.24191/jeeir.v5i3.8829

Wahyuni, S., Pujiharto, P., & Hartikasari, A. I. (2020). Sharia Maqashid Index and Its Effect on the Value of the Firm of Islamic Commercial Bank in Indonesia. Riset Akuntansi dan Keuangan Indonesia, 5(1), 36–45. https://doi.org/10.23917/reaksi.v5i1.9493

Wani, G. Q. (2018). Maqāṣid Al-Syarῑ‘ah: Some Preliminary Discussions. Indonesian Journal of Interdisciplinary Islamic Studies, 1(2), 137–164. https://doi.org/10.20885/ijiis.vol1.iss2.art6

Wijayanti, R., Diyanty, V., & Laela, S. F. (2020). Education Strategy Misfit, Board Effectiveness and Indonesian Islamic Bank Performance. Journal of Islamic Accounting and Business Research, 11(3), 929–944. https://doi.org/10.1108/JIABR-04-2017-0052

Zahrah, M. A. (1997). Ushul Fiqh. Darul Fikr.

Zainuldin, M. H., Lui, T. K., & Yii, K. J. (2018). Principal-Agent Relationship Issues In Islamic Banks: A View of Islamic Ethical System. International Journal of Islamic and Middle Eastern Finance and Management, 11(2), 297-311. https://doi.org/10.1108/IMEFM-08-2017-0212

Zuhaili, W. (1997). Al-Fiqh Al-Islamy wa Adilatuhu. Daar El-Fikr.




DOI: http://dx.doi.org/10.21776/ub.jamal.2020.11.3.30

Refbacks

  • There are currently no refbacks.


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