Analysis of the Relationship Between Islamicity Performance Index and Wadiah Bonus

This study aims to analyze how the components of the Islamicity Performance Index influence the distribution of Wadiah Bonus in Islamic commercial banks across Indonesia. Using a quantitative approach, this research relies on secondary data sourced from annual reports and sustainability reports for the period of 2020–2024. Through purposive sampling, a balanced panel dataset comprising 8 banks with a total of 40 observations was obtained. Data analysis was performed using the Random Effect Model regression, corrected with Clustered Robust Standard Errors to address autocorrelation issues detected in the model. The results reveal that among the components of the Islamicity Performance Index, the Profit Sharing Ratio (PSR) and Islamic Income Ratio (IIR) show a negative relationship with Wadiah Bonus, although these effects are statistically insignificant. Similarly, the Equitable Distribution Ratio (EDR) and Zakat Performance Ratio (ZPR) demonstrate a positive association, yet they are also not statistically significant. Meanwhile, the control variable Firm Size exhibits a significant positive influence on Wadiah Bonus at the 1% level, while the Operating Expense to Operating Income Ratio (BOPO), as a measure of operational efficiency, shows no meaningful effect. These findings indicate that variations in the distribution of Wadiah Bonus are primarily driven by institutional scale and financial capacity, whereas Sharia-based performance indicators do not serve as decisive determinants. This suggests that the allocation of Wadiah Bonus remains largely a discretionary policy decision made by bank management, rather than a direct reflection of Sharia compliance or performance achievements.