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Measuring sharīʿah Compliance Model: Evidence from Islamic Banks in Indonesia نموذج قياس الالتزام الإسلامي: أدلة من البنوك الإسلامية في إندونيسيا

Author

Listed:
  • Ardiansyah Rakhmadi

    (Faculty of Business and Economics, Islamic University of Indonesia, Indonesia)

  • Abdul Ghafar Ismail

    (Faculty of Economics and Muamalat, Universiti Sains Malaysia, Malaysia)

  • Achmad Tohirin

    (Faculty of Business and Economics, Islamic University of Indonesia, Indonesia)

  • Jaka Sriyana

    (Faculty of Business and Economics, Islamic University of Indonesia, Indonesia)

Abstract

Measuring the sharīʿah-compliance achievement of Islamic banks is important because the bank products should follow sharīʿah principles. Although some studies have formulated measurement models, most of the models are still conceptual or empirical research but with the partial approach employing only part of sharīʿah-compliance variables such as a contract or maqāṣid al-sharīʿah alone. Therefore, this study attempts to bridge the gap by building a comprehensive model and implementing it to the empirical research in ten Indonesian Islamic Banks by utilizing two sharīʿah compliance variables: the contract and maqāṣid al- sharīʿah simultaneously. In this study, the modeling process used a theory-based method. Afterward, the paper expresses the measurement results in a sharīʿah compliance index. The sharīʿah-compliance index represents a comparison between standard and measurement scores. The study has found that the Bank standard operating procedure (SOP) of the product and its implementation did not fully achieve the model standard scores with the rare frequency of sharīʿah non-compliant events in its practice. يعد قياس جوانب الامتثال الشرعي في البنوك الإسلامية أمرًا مهمًا لأن منتجات البنك يجب أن تتوافق مع مبادئ الشريعة الإسلامية. قامت بعض الدراسات بصياغة نماذج لقياس هذا الالتزام. ومع ذلك، فإن معظمها ما يزال مفاهيميًا أو تجريبيًا مرتبطًا بالمنهج الجزئي باستخدام بعض متغيرات الامتثال مثل العقد أو مقاصد الشريعة. تحاول الدراسة سد الفجوة في هذا الجانب من خلال بناء نموذج شامل وتطبيقه وفق منهج تجريبي على البنوك الإسلامية في إندونيسيا عبر تفعيل متغيرين للامتثال الشرعي هما: العقد ومقاصد الشريعة. وقد تم تطبيق النموذج في عشرة بنوك إسلامية. بُني النموذج على أساس النمذجة القائمة على النظرية. يتم التعبير عن نتائج القياس في شكل مؤشر التوافق مع الشريعة الإسلامية. يمثل مؤشر الامتثال مقارنة بين نتائج المعيار ودرجة القياس. توصلت الدراسة إلى أن إجراءات تنفيذ المنتج في البنوك محل الدراسة لم تحقق بشكل كامل المستوى القياسي للنمذجة على الرغم من ندرة الإجراءات المخالفة للشريعة الإسلامية.

Suggested Citation

  • Ardiansyah Rakhmadi & Abdul Ghafar Ismail & Achmad Tohirin & Jaka Sriyana, 2022. "Measuring sharīʿah Compliance Model: Evidence from Islamic Banks in Indonesia نموذج قياس الالتزام الإسلامي: أدلة من البنوك الإسلامية في إندونيسيا," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 35(1), pages 23-40, January.
  • Handle: RePEc:abd:kauiea:v:35:y:2022:i:1:no:2:p:23-40
    DOI: 10.4197/Islec.35-1.2
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    References listed on IDEAS

    as
    1. Asyraf Wajdi Dusuki & Abdulazeem Abozaid, 2007. "A Critical Appraisal On The Challenges Of Realizing Maqasid Al-Shariaah In Islamic Banking And Finance," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 15(2), pages 999-1000, December.
    2. Khan, Feisal, 2010. "How 'Islamic' is Islamic Banking?," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 805-820, December.
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