Academic Writing Sample

Asian Journal of Islamic Management (AJIM)
2022, 4(1), 25-42
Covid-19 impact on technology usage: An empirical

evidence from Indonesia zakat institutions
Darihan Mubarak1*, Muhammad Hakimi Mohd Shafiai2, Hairunnizam Wahid3, Aimi Anuar4
1Department of Islamic Banking, Faculty of Islamic Economic and Business, Institut Studi Islam Sunan
Doe, Nusa Tenggara Barat, Indonesia
2,3Centers for Sustainable & Inclusive Development Studies, Faculty of Economics & Management,
Universiti Kebangsaan Malaysia, Selangor, Malaysia

4Program coordinator, TERAS Lembaga Zakat Selangor, Klang Sentral Klang, Selangor, Malaysia
Article Info Abstract

Article History Purpose − The study aims to determine what factors influence the use of
Received : 2022-05-10
technology in zakat institutions in Indonesia using the Technological,
Revised : 2022-06-18
Accepted : 2022-07-24 Organizational, Environmental (TOE) model.
Published : 2022-08-15 Methodology − This research is based on a quantitative online survey of
125 amils at zakat institutions in Indonesia. The sample consisted of 55%
Keywords: men and 45% women. Data were analyzed using SPSS 26 and PLS-SEM to
zakat, zakat institutions,
test variables and hypotheses.
technology usage, TOE Model,
Covid 19 Findings − The results showed that organizational readiness and external
pressure have a significant positive impact on the use of technology in zakat
DOI: institutions. Interestingly, Information Technology (IT) infrastructure and
https://doi.org/10.20885/AJIM.
interoperability do not significantly affect technology usage because
vol4.iss1.art3
technology users want it to be easy-to-understand and easy-to-use. Thus, an
JEL Classification: easy-to-understand and easy-to-use technology give an excellent opportunity
D64, I31, P36 to achieve the zakat institution's goals.
Originality − This study is one of the first to examine the impact of the
Corresponding author:
variables in the TOE Model on technology usage in Indonesian zakat
Darihan Mubarak
darihan.mubarak@gmail.com institutions during the COVID-19 pandemic.
Research limitations − This study was conducted using cross-sectional
Author’s email: data, which has limitations in explaining the relationship between variables
hakimi@ukm.edu.my that are likely to change over time. In addition, some respondents were not
hairun@ukm.edu.my
aimianuar@gmail.com
familiar with the proposed questionnaire. Lack of understanding may cause
respondents to answer questions improperly.
Paper type: Practical implications − The results are essential for all stakeholders of
Research paper zakat institutions, especially policymakers, to increase the use of technology
to affect the performance of zakat institutions in the context of the
realization of zakat, infaq, sadaqah (ZIS) collection in Indonesia.
Cite this article:
Mubarak, D., Shafiai, M. H. M., Wahid, H., & Anuar, A. (2022). Covid-19
Center for Islamic Economics Studies impact on technology usage: an empirical evidence from Indonesia zakat
and Development, Faculty of Business
and Economics, Universitas Islam institutions. Asian Journal of Islamic Management (AJIM), 4(1), 25-42.
Indonesia https://doi.org/10.20885/AJIM.vol4.iss1.art3.
Introduction
Corona Virus Disease 2019 (Covid-19) has an enormous impact on human life and the economic
sector (Leite et al., 2020). The increasing number of cases seems unstoppable and uncontrollable
(Jon Cohen & Kupferschmidt, 2020). The virus’s rapid spread has resulted in death, and
psychological harm as more and more people are being isolated. The spread of the virus has also
P ISSN 2746-0037 | E ISSN 2722-2330
Copyright © 2022 Authors. This is an open-access article distributed under the terms of the Creative Commons Attribution-ShareAlike 4.0 International License
(http://creativecommons.org/licences/by-sa/4.0/)
26 Asian Journal of Islamic Management (AJIM), 2022, 4(1), 25-42
caused many countries to implement lockdown policies (Kaur et al., 2020).

Individuals and organizations must move from offline to online modes of interaction
following the imposition of lockdowns in different countries. An organization must change to
thrive and expand, whether in business or the social sector. As a result, incorporating technology
into corporate operations is a must (Kaur et al., 2020). When an institution has the digital
transformation to expand, the digital technology solution will perform well (Winarsih et al., 2021).
Users of emerging technologies are growing in a variety of countries. According to the
Global Digital Overview (2020), Indonesia has 175.4 million internet users, or 64 percent of the
total population, and 160 million active social media users, or 59 percent of the total population.
As a result, individuals today are more likely to use technology to carry out their operations in
various ways, including purchasing essentials, volunteering, doing business, sending merchandise,
and performing other tasks. Technology is seen as a medium for making work more pleasant and
productive (Rachman & Salam, 2018).
Zakat institutions must use technologies to increase the realization of Islamic social finance,
such as zakat, infaq, sadaqah, and other social funds. Especially in organizations that raise and
distribute Islamic social finance, such as using social media, websites, and payment applications in
collecting zakat. According to Forum Zakat and Filantropi Indonesia (2020), using technologies to
expand ZIS collection is critical during and after the Covid-19 pandemic to improve the
performance of Zakat institutions. According to Ahmed et al. (2015), Islamic Social Finance plays
an essential role in eradicating social injustice and marginalization. Zakat’s economic investment is
projected to be between $200 billion and $1 trillion (Rehman & Pickup, 2018).
With a Muslim population of 87.18 percent or 232.5 million people, Indonesia has excellent
Islamic social finance potential, according to statistics from the Global Islamic Economic Report
(2018). According to Badan Amil Zakat Nasional (2019), zakat, infaq, sadaqah, and other social
fund collections in Indonesia have increased dramatically over the last ten years, increasing from
IDR 1.2 trillion in 2009 to IDR 10.22 trillion in 2019. During the Covid-19 pandemic, zakat, infaq,
and sadaqah collections rose by 46% from January to July 2020. It is none other than the massive
use of technology in the collection process (Kompas, 2020). However, this amount is still far from
the potential zakat in Indonesia of 217 trillion. Thus, the zakat institution still needs more effort to
increase the collection’s realization (Canggih et al., 2017).
For an organization to improve operational effectiveness and change for the better, it must
use technology extensively. Several studies have been conducted to determine the use of technology
in zakat institutions. Elsayed and Zainuddin (2020) found that increasing zakat information system
technology (ZIST) will improve zakat institutions’ performance in Malaysia both in terms of
collection and distribution. Johari and Yusoff (2019) also found that Financial Technology’s
existence makes it easier for muzakki to pay zakat. At the same time, it also makes it easier for
mustahik to obtain zakat. However, no research explains the impact of the TOE Model on the use
of technology in zakat institutions in Indonesia during the Covid-19 pandemic. Hence, this research
aims to examine the factors that influence technology usage in the Zakat Institution, enabling the
zakat institution to improve its services in terms of ZIS collection. This research’s primary objective
is to investigate the Covid-19 impact on technology usage in the Indonesian zakat institution
through the Technology, Organization, and Environmental (TOE) Model. This research only
focuses on Islamic social finance collected by the Zakat Institutions in Indonesia.
Literature Review
Zakat Institution in Indonesia
The management of zakat funds in Indonesia has been regulated by Law Number 23 of 2011
concerning Zakat Management (Suprima & Rahman, 2019). The zakat management law regulates
the Zakat Management Organization (Organisasi Pengelola Zakat/OPZ), which may operate in
Indonesia. The OPZs mentioned in the law are the National Board of Zakat (BAZ) and the Amil
Zakat Institute (LAZ), such as Dompet Dhuafa, Rumah Zakat, and Inisiatif Zakat Indonesia (IZI),
etc. Collecting, distributing, and empowering zakat in Indonesia must be integrated with the
Covid-19 impact on technology usage: … 27
National Board of Zakat (BAZNAS). The National Board of Zakat (BAZNAS) is an executive
government agency to collect or manages zakat. Zakat management is carried out gradually or in
stages by the manager or amil. The BAZNAS and the Amil Zakat Institution (LAZ) are integrated
organizations with a hierarchical relationship (Suprima & Rahman, 2019).
BAZNAS is a non-structural government institution that is independent and accountable
to the president through the minister. At the same time, LAZ is a zakat management institution
fully formed by the community, confirmed, fostered, and protected by the government. LAZ can
be formed from the sub-district. LAZ at the central level can be formed by Islamic community
organizations, foundations, or non-governmental organizations that have a national level and
operate nationally (Purbasari, 2015; Pangiuk, 2020). In Law Number 23 of 2011, it is explained that
BAZNAS functions to plan, implement, and control the collection, distribution, and utilization of
zakat as well as to provide accountability reports on the implementation of zakat management.
Theory Acceptance Model (TAM)

The theory Acceptance Model (TAM) was first introduced by Davis (1989), which is a derivative
of the Theory of Reasoned Action (TRA) initiated by Fishbein and Ajzen (1975). TRA explains
that there are reactions and perceptions of technology use, ultimately impacting attitudes in
accepting the technology. TAM states that behavioral intention to use is determined by two beliefs:
perceived usefulness and perceived ease of use (Sayekti & Putarta, 2016). Someone will tend to use
an application or believe in using a particular system because he believes that the application or
system can improve his performance. It is called perceived usefulness. However, sometimes even
if a system is believed to improve performance, the user will not consider the system’s performance
improvement if it is complicated to use. So, there needs to be one more thing that is an additional
consideration for using a system, namely perceived ease of use. Perceived ease of use is a condition
in which a person believes that there is an ease in using a particular system (Davis, 1989). TAM in
this study is related to the dependent: technology usage, where two beliefs influence a person’s
tendency to use technology, perceived usefulness and perceived ease of use, as stated by (Davis,
1989). In this study, the authors want to know the impact of the TOE Model on technology usage
based on TAM.
TOE Model
TOE model developed by Tornatzky and Fleischer (1990). This model describes three things that
affect the implementation of technology and information in an organization. The three things are
technology, organization, and environment. The technology perspective describes the technology
adopted by a company in carrying out its primary operations (Teo et al., 2006). The technology
perspective explains how a company uses the existing technology in the company. Bendoly and
Kaefer (2004) stated that companies with standard IT infrastructure have made it easier to expand
their business. The organizational perspective explains an organization’s readiness to use
technology, human resources, financial side, and others. Amabile (1988) found that management
skills, the drive to innovate from the organization, and the organization’s resources help increase
innovation. The environmental perspective describes how an organization can continue to adapt
to the surrounding environment, such as facing external pressures and adapting to government
laws (Shahzad et al., 2020). Miles et al. (1978) found that an organization will be concerned about
innovation when faced with a competitive environment.
Previous Studies
Several types of research have been done to identify the role and technology usage in an institution.
Elsayed and Zainuddin (2020) found that increasing ZIST will improve zakat institutions’
performance in Malaysia in terms of collection and distribution. Esrati et al. (2018) also found that
zakat institutions believe technology can improve zakat management and service systems. Utami
(2019) found that the interest in paying zakat cannot be fully implemented if it is not supported by
increased financial literacy, transparency of zakat reports, and acceleration and optimization of
digital zakat management in Islamic banking.

Another result from Yahaya and Ahmad (2019) found that the performance expectancy,
social influence, and facilitating conditions; significantly affected the acceptance of financial
technology among mustahik in zakat distribution. Meanwhile, effort expectancy has no considerable
impact. In the same year, Johari and Yusoff (2019) found that Financial Technology’s existence
makes it easier for muzakki to pay zakat. Another research investigated by Rusydian and Widiastuti
(2019) found an increase in the productivity of zakat institutions in Indonesia in the 2011-2016
timeframe. Increased productivity due to technological changes.
In the business context, Teo et al. (2006) found that a lack of top management support,
unresolved technical matters, a lack of e-commerce strategy, and a lack of ability to assess the cost-
benefit of investing in e-commerce are the main factors that hinder the spread of Business-to-
Business. Cavalcante (2013) found that corporations will use new, more sophisticated technology
to expand their existing business models. Another research investigated by Shahzad et al. (2020)
found that organizational readiness, e-commerce knowledge, and supply chain integration
significantly impacted e-commerce. In contrast, IT infrastructure and external pressure had no
significant effect on e-commerce use. Sukma (2016) found that technological and organizational
factors influence the use of K-Cloud, while environmental factors do not affect the use of K-Cloud
at the Ministry of Communication and Information Technology of the Republic of Indonesia.
Ngah et al. (2017) found that technology, organization, and the environment had a
significant relationship with the implementation of halal warehousing activities. In the context of
technology usage, Jahangir and Begum (2007) found that perceived usefulness, ease of use, data
security, privacy, and customer attitudes have a significant positive relationship to customer
adaptation to using e-banking services. Solomon and Klyton (2020) found that using ICT by
individuals positively affects economic growth. Increasing ICT development can be done with
policies that support ICT and a skilled workforce.
Research Framework
The research framework explains the relationship between the independent variables (IV) and the
dependent variable (DV). There are three independent variables: technology, organization, and
environment included. It is the TOE model. In this study, Technology usage became the dependent
variable. Based on the relationship between variables, the research framework is depicted in Figure 1.
Technological Perspective:
IT Infrastructures
Interoperability
Organizational Perspective: Technology Usage

Organizational Readiness
Environmental Perspective:
External Pressure
Figure 1: Theoretical Framework Propose and Hypotheses Relationship
Technological Perspective: IT infrastructure describes all IT infrastructure owned and used

by zakat institutions. Telecommunications, software, and hardware are part of the IT infrastructure
(Shahzad et al., 2020). Table 1 shows IT infrastructure and interoperability indicators that exist in
zakat institutions. According to Weill and Vitale (2002), the existence of an IT infrastructure that
is flexible and has adequate capabilities significantly impacts company performance. In addition, a
complete telecommunications infrastructure and database measure an organization’s ability to

develop its business (G. Premkumar & Ramamurthy, 1995).
Meanwhile, interoperability is related to the connectedness or integration between one
technology and another. Research conducted by Teo et al. (2006) stated that the existence of
interoperability would increase the efficiency of a company. However, in the context of zakat
institutions, does interoperability have a significant positive effect on the use of technology? In this
study, we want to investigate the impact of IT infrastructure owned by zakat institutions and
interoperability between technologies on the use of technology. Therefore, we propose hypotheses:
H1: IT Infrastructures have a significant positive impact on technology usage
H2: Interoperability has a significant positive impact on technology usage
Organizational Perspective: In this case, organizational readiness relates to how an

organization or company prepares to innovate (Grover, 1993). According to Asif and Mandviwalla
(2005), organizational readiness is a vital variable in an organization’s adoption and use of
technology. Organizational readiness can include the ability of an organization to adapt its culture
to changes in the use of technology, continuously build new skills, and support from all
components within the organization. In this study, we want to investigate the impact of
organizational readiness on technology usage. Therefore, we propose a hypothesis:
H3: Organizational Readiness has a significant positive impact on technology usage
Environmental perspective: In this case, external pressure relates to an organization dealing

with external parties such as competitors, customers, or the government (Tornatzky & Fleischer,
1990). The competitive environment, be it business partners, customers, government regulations,
or social and legal environment, affects the behavior of companies in developing their business
(Teo et al., 2006). In the context of zakat institutions, we want to investigate the impact of external
pressure on the use of technology. Therefore, we propose a hypothesis:
H4: External Pressure has a significant positive impact on technology usage
Table 1: TOE Framework

Construct Item Measure References
IT IT1 Adequate IT Infrastructure in Zakat Broadbent et al. (1999);
Infrastructures Institution during Covid-19 Grover (1993)
IT2 The existing muzakki database infrastructure Grover (1993); Grover et al.
(1995)
IT3 Current telecom infrastructure in Zakat Grover (1993); Grover et al.
Institution (1995)
IT4 Adequately IT expertise in the Zakat Broadbent et al. (1999)
Institution
Interoperability IN1 Interoperability between new-financial Janssens & Cuyvers (1991)
technology and legacy system in collecting
ZIS
IN2 Adequate integration between ZIS collecting Janssens & Cuyvers (1991);
technology with existing application and Premkumar (2000)
system
IN3 Interoperability between ZIS technology and Angeles et al. (2001);
ziswaf collecting partner (Bank, E- Premkumar (2000)
Commerce, etc.)
IN4 The existing mechanisms for protecting data Premkumar (2000)
and information when paying ZIS using
technology
IN5 Adequate ZIS payment system using Angeles et al. (2001)
technology
IN6 Robust, Stable, and standardized IT Angeles et al. (2001)
Infrastructure
Construct Item Measure References

Organ. OR1 Abilities in adjusting the culture of zakat Barrett (1999)
Readiness institution with changes in technology usage
OR2 Abilities in adjusting changes in the job Angeles et al. (2001); Grover
description and organizational structure et al. (1999)
during Covid-19
OR3 Re-design the business processes Angeles et al. (2001); Grover
et al. (1999)
OR4 Adequate support from all departments in Angeles et al. (2001); Grover
the context of technology usage et al. (1995)
OR5 Continuous innovation from the institution Grover (1993)
OR6 Keeping IT staff adequately trained on up- Angeles et al. (2001)
to-date ZIS financial technologies
OR7 Enough time to develop a new skill Grover et al. (1995)
OR8 External Consultant support (Gable, 1996); Grover et al.
(1995)
External EP1 Support from government regulations in the Tornatzky & Fleischer (1990)
Pressure use of ZIS collection technology
EP2 Competitive pressure from the other zakat Angeles & Nath (2000);
institution in technology usage Sheikh et al (2018)
EP3 Pressure from muzakki and the need to be Angeles & Nath (2000);
relevant in technology usage Hashim (2006)
Technology TU1 Technology usage increases zakat Davis (1989)
Usage institution’s performance
TU2 Technology usage increase productivity Davis (1989)
TU3 Using technology reduces the time on Davis (1989)
unproductive activities
TU4 Interaction with technology is easy to Davis (1989)
understand
TU5 Technology provides helpful guidance in Davis (1989)
performing a task
Research Methods
Data Collection
This research uses a quantitative approach where data is collected by the survey method using
Google Forms. We distributed this research questionnaire from December 15, 2020, until the end
of December 2020. In this study, 126 respondents answered. However, only 125 respondents could
be used for data analysis after sorting the data. Respondents are amil zakat at the Zakat
Management Organization (OPZ), both the National Board of Zakat (BAZNAS) and the Amil
Zakat Institution (LAZ). Demographic segregation is based on sex, age, education level, and
position in the zakat institution. Besides, we also asked which technology platforms were
encouraged to pay zakat the most. Data were analyzed using PLS (Partial Least Square). This
research consists of independent variables and dependent variables. Measurement of technology,
organization, and environment variables uses a Likert scale of 1 to 5 to determine respondents’
responses to the questions, especially the impact of Covid-19 on technology usage.
Sample Profile
Table 2 shows the positions of the respondents. Most of the respondents are staff in zakat agencies
and institutions. Overall, the staff who answered worked in the role of; marketing, funding, budget
control, sharia compliance, reporting, administration, reporting, finance, da’wah program, zakat
advisor, zakat researcher, mustahik verifier, IT, distribution, and supervision. The other respondents
are the head of the division/department, zakat researcher, manager, corporate secretary, and director.
Table 3 shows respondents according to sex, age, and level of education. Of the 125
respondents, there were 69 men and 56 women. There are 92 (74%) respondents aged 20-30 years,
18 (14%) respondents aged 31-40 years, there are 10 (8%) respondents aged 41-50 years, and there
are 5 (4%) respondents above 50 years. Based on the level of education, there were 103 (82.4%)
respondents who graduated with undergraduate degrees, 9 (7.2%) respondents were graduates with
masters, 8 (6.4%) respondents were diploma graduates, 4 (3.2%) respondents were graduates from
high school, and 1 (0.8%) is Doctoral graduates.
Table 2. Respondents According to Position

Position Frequency Percent (%)
Staff 94 75.2
Manager 9 7.2
Head of division 14 11.2
Zakat Researcher 2 1.6
Head of Branch 2 1.6
Director 2 1.6
Corporate Secretary 2 1.6
Total 125 100
Table 3. Respondents According to Sex, Ages, and Level of Education

Respondents Number Percent (%)
Sex:
Men 69 55.2
Women 56 44.8
Ages:
20-30 92 74
31-40 18 14
41-50 10 8
Above 50 5 4
Level of Education:
Senior High School 4 3.2
Diploma 8 6.4
Undergraduate 103 82.4
Masters 9 7.2
Ph.D. 1 0.8
Table 4. Respondents According to Province

Province Frequency (%)
Jakarta 35 28.0
West Java 29 23.2
Banten 17 13.6
East Java 8 6.4
South Sulawesi 7 5.6
West Nusa Tenggara 8 6.4
Yogyakarta 5 4.0
Central Java 3 2.4
North Sumatera 4 3.2
Riau 2 1.6
East kalimantan 3 2.4
Bengkulu 1 0.8
Batam 1 0.8
South Sumatra 1 0.8
West Sumatra 1 0.8
Total 125 100
Table 4 Shows respondents by province where they work. Overall, respondents who answered
came from 15 provinces. Most respondents came from the province of Jakarta.
Data Analysis
The impact of technology use on the National Zakat Board and institutions is analyzed from three
perspectives: technology, organization, environment, or the TOE Model approach. The research
data were analyzed using SmartPLS 3.3.2 to perform model testing. Testing the relationship
between two quantitative and continuous variables uses the correlation technique to evaluate the
research hypothesis. One hundred twenty-five respondents from various zakat organizations in
Indonesia participated in this research survey. SPSS 26 is used to check outliers, delete unanswered
data, and perform data normality tests.
Meanwhile, the SmartPLS 3.3.2 statistical application is used to analyze survey data.
According to Chin et al. (1996), the minimum number of samples used in research using the PLS-
SEM method is in the range of 30-100. So, 125 respondents can be said to be sufficient. The
discussion will focus on the research objectives and hypotheses that have been set. The survey
contains five Likert scale responses to questions about using technology in zakat institutions during
the Covid-19 pandemic. Respondents were also asked what platform Muzakki uses most to pay
zakat to BAZNAS or LAZ. Figure 2 below shows the answers of 125 respondents about the
medium most often used to pay zakat.
6%
11%
12%
71%
Social Media Website

E-Commerce Payment Application
Figure 2. Technology Platform that Encourages Muzakki to Pay ZIS
Assessment of Measurement Model

The first step that needs to be done in conducting an analysis using SmartPLS 3.3.2 is to assess the
measurement model. The outer model sets the relationship between the analyzed variables or
indicators and the latent variables. It serves to ensure the reliability and validity of the construct.
Composite reliability (CR) was used to measure the reliability indicator. There are two types of
validity in PLS-SEM; convergent and discriminant validity. Convergent validity determines the
relationship between indicators (items) and their latent constructs or variables or a set of indicators
representing a latent variable. Convergent validity is known from the Average Variance Extracted
(AVE) value. Meanwhile, discriminant validity is the loading factor value on the latent variable with
its indicators (Hair et al., 2014; Hair et al., 2017). It is illustrated by the Fornel Larcker criteria and
cross-loading values.
Individual Item Reliability and Validity

Several preconditions must be done before testing the hypothesis. The first step that must be done
is to use composite reliability (cr) to determine the consistency reliability of all indicators in the
model (Cronbach & Meehl, 1955). Ideally, the value of composite reliability is greater than 0.7 (Hair
et al., 2010). Table 5 shows that all values of composite reliability have values above 0.7. The second
step is assessing validity, namely knowing the convergent validity and discriminant validity values.
Convergent validity is considered adequate when the average variance extracted (AVE) is 0.5 or
more. AVE values of less than 0.5 should be removed to improve data quality (Hair et al., 2014).
A value of 0.5 or more means that one latent variable can explain more than half of the indicators’
variance on average (Hair et al., 2014). In this study, the AVE values for each construct were above
0.5. That is, this study passed the convergent validity test. External pressure (EP) value is 0.535, IT
Infrastructures (IT) is 0.573, Interoperability (IN) is 0.538, Organizational Readiness (OR) is 0.519,
and Technology usage (TU) is 0.636.
Figure 3. The Assessment Measurement
Table 5 shows the value of outer loading—the greater the outer loading value, the stronger
the relationship between the indicator and the variable. In social science, indicators with outer
loading below 0.7 (between 0.4 and 0.7) can be maintained if they affect research validity (Hair et
al., 2017). The table results show that all constructs pass the reliability test and have a valid measure
according to parameter estimates and statistical significance (Chow & Chan, 2008). Figure 3 shows
the complete model result; the R square (R2) value is 0.505. It means that the independent variable
(exogenous constructs) has an effect of 0.505 on the dependent variable (endogenous construct).
According to Hair et al. (2017), the value of 0.505 explains that the dependent variable has a
moderate effect on the dependent variable.
Table 5. Internal Consistency Reliability and Convergent Validity

Outer Composite Average Variance
Construct Items
Loading Reliability Extracted (AVE)
TU TU1 0.805 0.897 0.636
TU2 0.836
TU3 0.804
TU4 0.803
TU5 0.736
IT IT1 0.799 0.842 0.573
IT2 0.721
IT3 0.696
IT4 0.805
IN IN1 0.757 0.866 0.519
IN2 0.704
IN3 0.705
IN4 0.795
IN5 0.652
IN6 0.701
OR OR1 0.802 0.902 0.538
OR2 0.785
OR3 0.744
OR4 0.773
OR5 0.727
OR6 0.676
OR7 0.757
OR8 0.58
EP EP1 0.754 0.768 0.535
EP2 0.511
EP3 0.881
Discriminant Validity
The next step is to conduct a discriminant validity test, as Anderson and Gerbing (1988) proposed.
Discriminant validity describes how a construct is different from other constructs or how much
the indicators represent a construct (Hair et al., 2010; Gholami et al., 2013; Hair et al., 2014). The
way to evaluate discriminant validity is to look at Fornell and Larcker’s (1981) criterion and cross-
loading indicators’ value. Cross-loading provides a condition that each item’s loadings have a higher
value than the cross-loadings on other variables. Fornell and Larcker’s (1981) discriminant validity
looks at the comparison of constructs and the square root of AVE, where each construct’s AVE
value must be higher than the highest square correlation with other constructs.
Meanwhile, Cross loading provides a condition that each item’s loadings have a higher value
than the cross-loadings on different constructs. In this study, Fornell and Larcker's criterion for
external pressure (EP) was 0.732, the value of IT infrastructures (IT) was 0.757, organizational
readiness (OR) was 0.733, and interoperability (IN) was 0.721, and technology usage (TU) was
worth 0.798. Tables 6 and 7 show the Fornell-Larcker Criterion and Cross loadings values.
Table 6. Fornell-Larcker Criterion

EP IE OR TI TU
EP 0.732
IT 0.516 0.757
OR 0.730 0.764 0.733
IN 0.493 0.733 0.682 0.721
TU 0.646 0.501 0.674 0.441 0.798
Table 7. Cross Loadings

EP IE OR TI TU
EP1 0.754 0.475 0.593 0.472 0.453
EP2 0.511 0.306 0.372 0.181 0.208
EP3 0.881 0.380 0.614 0.387 0.633
IT1 0.458 0.799 0.586 0.510 0.455
IT2 0.239 0.721 0.469 0.498 0.224
IT3 0.227 0.696 0.419 0.563 0.219
IT4 0.496 0.805 0.729 0.654 0.475
OR1 0.503 0.610 0.802 0.505 0.557
OR2 0.602 0.584 0.785 0.464 0.562
OR3 0.535 0.535 0.744 0.429 0.534
OR4 0.593 0.617 0.773 0.486 0.513
OR5 0.537 0.613 0.727 0.573 0.478
OR6 0.396 0.621 0.676 0.614 0.333
OR7 0.549 0.593 0.757 0.633 0.510
OR8 0.551 0.305 0.580 0.344 0.403
IN1 0.354 0.612 0.570 0.757 0.264
IN2 0.379 0.511 0.490 0.704 0.365
IN3 0.211 0.604 0.448 0.705 0.262
IN4 0.383 0.670 0.568 0.795 0.359
IN5 0.377 0.416 0.388 0.652 0.265
IN6 0.398 0.370 0.469 0.701 0.351
TU1 0.432 0.397 0.486 0.312 0.805
TU2 0.459 0.458 0.562 0.372 0.836
TU3 0.527 0.347 0.492 0.222 0.804
TU4 0.584 0.408 0.541 0.377 0.803
Variance Inflation Factor (VIF)

Table 8 shows the correlation value for the Variance Inflation Factor (VIF). The results showed
that all constructs had a VIF value of less than 5.0. according to Hair et al. (2017), if the VIF value
is less than 5.0, the study data is free from serious collinearity problems.
Table 8. VIF Values

EP IE OR TI TU
EP 2.165
IT 3.042
OR 3.970
IN 2.348
TU
Hypotheses Testing
A structural model assessment is known by looking at a direct relationship model. This analysis
produces the path coefficient and t-values. Based on Hair et al. (2017), if the t-value is greater than
1.96 with a significance level of the p-value of 0.05 (5%), the independent variable significantly
affects the dependent variable. Among the four hypotheses tested in this study, two hypotheses
were supported, and two were not supported. Table 9 below shows the Results of Hypotheses
Testing.
The structural model in PLS-SEM describes the relationship between all latent variables in
research on endogenous constructs. This study’s results indicate that the four existing hypotheses
support two hypotheses. The p-value for external pressure is 0.001, the p-value for IT
Infrastructure is 0.855, the p-value for organizational readiness is 0.003, and the p-value for
interoperability is 0.698. The variables that represent the organization and the environment, namely
organizational readiness and external pressure with a beta value of 0.331 and 0.444, have a
significant positive effect on the use of technology; this means that they support H3 and H4. The
technological factors represented by IT Infrastructure and interoperability with a beta value of
0.020 and -0.039 have no significant effect on the use of technology during the Covid-19 period in
zakat institutions in Indonesia; this means that they do not support H1 and H2.
Besides, we also tried to evaluate the R Square (R2) value used to measure the model’s
predictions’ accuracy. R2 describes the combined value of exogenous variables against endogenous
variables. Values between 0 and 1. 0.25 represent a weak prediction accuracy level, 0.5 represents
a moderate predictive accuracy level, and 0.75 represents a substantial prediction accuracy level
(Henseler et al. 2009; Hair et al. 2011). R2 in this study was 0.505 or moderate. Cross-validated
redundancy (Q2) is a way to determine the predictive relevance of the inner model. The value of
Q2 in this study is 0.300. Q2>0 shows evidence that the observed values have been reconstructed
well. Thus exogenous constructs have predictive relevance over endogenous constructs (Hair et
al., 2017). The f2 describes the effect size. This study's f2 of external pressure, IT infrastructures,
organizational readiness, and interoperability were 0.102, 0.000, 0.100, and 0.001. In general, the f2
of this study is small. The rules for assessing the effect size are 0.02, 0.15, and 0.35, which means
small, medium, and large (Cohen, 1988).
Table 9. Path Coefficient and Hypotheses Testing

Relationship Path Coefficient SD t values P Values Decision
EP → TU 0.331 0.102 3.241 0.001 Supported
IT → TU 0.020 0.111 0.183 0.855 Not Supported
OR → TU 0.444 0.146 3.036 0.003 Supported
IN → TU -0.039 0.101 0.389 0.698 Not Supported
Results and Discussion

The research results are in line with the objectives. This study aims to provide information about
what factors influenced the use of technology in zakat institutions in Indonesia during the Covid-
19 period. In the context of applications that encourage muzakki to pay zakat, infaq, and sadaqah
(ZIS), among 125 respondents, we found that most muzakki (71.2%) were motivated to pay ZIS
through social media technology platforms such as Facebook, Instagram, WhatsApp, etc.
Following data from the Global Digital Overview Report (2020), out of 175.4 million internet users
in Indonesia, 160 million actively use social media. The rest is driven by other technology platforms
such as e-commerce, websites, and payment applications in the Playstore. It happens because the
general public uses social media applications the most.
In analyzing the data, exogenous constructs were diagnosed with endogenous variables.
The hypothesis’s formulation follows a questionnaire distributed to amil in zakat institutions in
Indonesia. In general, there are two statistical applications used to perform the analysis. SPSS 26 is
used to test data normality. All variables passed the Skewness-Kurtosis normality test, with the
value range of each variable still between -1.96 to +1.96. After the normality test, the analysis used
SmartPLS 3.3.2. Two of the four hypotheses are supported, and two are not supported. It means
that two hypotheses support the organization’s perspective and the environment, and one
perspective is not supported, namely the perspective of technology.
Organizational readiness (H3) had a significant positive effect on the use of technology in
zakat institutions during Covid-19. It is very appropriate because organizational readiness is related
to the ability of the zakat organization to adapt its culture to changes in the very rapid use of
technology during the Covid-19 period. Besides, organizational readiness is also associated with
zakat institutions’ ability to continue providing adequate training regarding the technology used to
adjust to the rapid changes during Covid-19. Organizational readiness makes zakat institutions able
to adapt to new challenges. In addition, organizational readiness is related to the ability to innovate
and upgrading of new skills of the amil in zakat institutions. This finding is supported by many
studies, such as research conducted by Shahzad et al. (2020) and Alam et al. (2011). These results
are also consistent with research conducted by Premkumar and Roberts (1999), Ismail and Azwadi
(2013), and Ngah et al. (2017) in the context of SMEs and Halal warehousing.
External pressure (H4) had a significant positive effect on the use of technology in zakat
institutions during Covid-19. This study found that the use of technology in zakat institutions in
Indonesia during Covid-19 is positively influenced by regulatory support from the government,
competition between zakat institutions, and the urge to constantly adjust to the needs of muzakki
in zakat payments. This finding proves that zakat institutions will be encouraged to increase the
use of technology when there is strong regulatory support. Competition between zakat institutions
is not an obstacle to the progress of zakat institutions in the context of the use of technology, but
it will lead to increased innovation and service improvement. This study’s results are consistent
with the results of research conducted by Premkumar and Roberts (1999), Lertwongsatien and
Wongpinunwatana (2003), Sophonthummapharn (2009), and Ngah et al. (2017) in SMEs and Halal
warehousing.
Meanwhile, IT infrastructure and interoperability did not significantly affect the use of
technology in Indonesia’s zakat institutions during Covid-19. The possible reason is that the
increasingly complex technological infrastructure such as the zakat payment system will increase
the difficulty of muzakki in understanding the technology provided by zakat institutions because a
zakat payment technology must be user-friendly and easy to understand. For example, the simpler
the interface of a zakat payment application will make it easier for muzakki to understand and use
the application. It also follows research conducted by Govinnage and Sachitra (2019), and Shahzad
et al. (2020).
It also applies in the context of interoperability, which does not significantly affect
technology usage. As research conducted by Shahzad et al. (2020), the complexity of technology
will cause difficulties in using technology. The connection between the zakat payment technology
and all the zakat institution technologies will cause the complexity of the technology interface even
though the indicators used for the technology usage in this study are perceived usefulness and
perceived ease of use according to the Theory Acceptance Model (TAM). So, it is natural that
interoperability does not affect significantly because, in this study, the technology usage indicator
is only two things. Interoperability will not significantly affect the use of technology because it will
cause system complexity. Likewise, it has no significant effect regarding variations in technology
use because the measuring tool is whether it is useful or easy to understand when the muzakki uses
a payment technology.
The more frequent use of zakat collection technology by muzakki will undoubtedly improve
zakat institutions’ performance in zakat collection. A good environment in the form of competition
for zakat collection with other zakat institutions, regulatory support from the government, and the
drive always to be relevant to the needs of muzakki affects the use of technology. Based on this,
the organizational readiness in using technology needs to be maintained and enhanced by zakat
institutions to improve the zakat collection performance.
On the other hand, good external pressure makes the performance of the zakat institution
even better. In external pressure, Indonesia is a country with many zakat institutions, both
BAZNAS and LAZ. Each zakat institution must understand and learn how to develop zakat
collection by other institutions and how they can effectively collect the zakat. The research results
show that other zakat institutions are influencing the use of technology. However, in terms of IT
Infrastructure and interoperability, the complexity of IT infrastructure is not significant for
technology use. So, we need a technology design that is easily understood by the general public.
Conclusion
Although Indonesia's zakat collection has increased yearly, it is still far from its existing potential.
So, an efficient zakat collection approach is needed. Data from Forum Zakat & Filantropi
Indonesia 2020) shows the importance of using technology in collecting zakat. By analyzing the
development of zakat organizations, this study tries to understand the factors that encourage and
hinder the use of technology. This study uses the TOE framework divided into four variables: IT
Infrastructure, interoperability, organizational readiness, and external pressure. Organizational
readiness and external pressure are shown to have a significant relationship. Meanwhile, IT
infrastructure and technology interoperability does not have a significant relationship. It is
consistent with Govinnage & Sachitra's (2019) research and Shahzad et al. (2020). The reason is
that the increasingly complex IT infrastructure makes it increasingly tricky for technology users to
use and understand technology.
This study’s limitation is that there are difficulties for some respondents to understand
some of the questions in the questionnaire; this may lead to improper answers from respondents.
Future researchers need to consider other variables and indicators that might lead to improved use
of technology in zakat institutions. In the end, this study recommends future researchers investigate
other factors that may affect the use of technology to improve the performance of zakat institutions
and use longitudinal data.
Author Contributions
Conceptualization: Darihan Mubarak
Data curation: Darihan Mubarak
Formal analysis: Darihan Mubarak
Investigation: Darihan Mubarak
Methodology: Darihan Mubarak
Project administration: Darihan Mubarak, Muhammad Hakimi Mohd Shafiai, Hairunnizam Wahid,
Aimi Anuar
Supervision: Muhammad Hakimi Mohd Shafiai, Hairunnizam Wahid, Aimi Anuar
Validation: Darihan Mubarak, Mohd Shafiai, Hairunnizam Wahid, Aimi Anuar
Visualization: Darihan Mubarak
Writing – original draft: Darihan Mubarak
Writing – review & editing: Darihan Mubarak
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journal/index.php/jif/article/view/345
e-Proceedings of the 1st International Conference on Islamic Economics 2022 (1st ICONIE 2022)
30th & 31st March 2022 / Online Conference
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MAQASID-SHARIAH AND WELL-BEING: A SYSTEMATIC

LITERATURE REVIEW
Darihan Mubarak*, Norfaizah Othman**, Mariani Abd-Majid* Suhaila Nadzri**

*Universiti Kebangsaan Malaysia, ** Kolej Universiti Islam Antarabangsa Selangor
ABSTRACT
Maqasid-Shariah basically aims to ensure the well-being of man in this world as a means of
prosperity in the hereafter. Well-being includes all improvement in human life including
material, spiritual and social justice. In addition, well-being also required basic needs to be met
and enhanced by conditions that include supportive personal relationships, community
empowerment, financial security, rewarding employment, good health, and a healthy and
attractive environment. However, previous studies showed some constraints among the
selected dimensions and indicators in measuring well-being. The arrangements of the
components and indicators do not show hierarchy on which indicator is most crucial towards
fulfilling the basic needs of the citizen. Thus, this study is important to review dimensions and
components in Maqasid- Shariah which can improve measurement of human well-being. To
achieve the objective of this study, Preferred Reporting Items for Systematic Reviews and
Meta-Analyses (PRISMA) was adopted for the review of the current research which utilize two
main journal databases, namely Scopus and Web of Science. Accordingly, the searching efforts
resulted in a total of 66 articles that can be analyzed systematically. Most importantly, the
review managed to formulate nine main themes, namely safeguarding of faith, safeguarding of
life/self, safeguarding of intellect, safeguarding of posterity, safeguarding of wealth,
safeguarding of honor, safeguarding of human rights, safeguarding of social entity, and
safeguarding of environment (ecology). Overall, further analysis of the nine themes resulted in
the establishment of a total of 23 sub-themes. Finally, a number of recommendations were
presented at the end of this research for the reference of future scholars.
1.0 INTRODUCTION
Shariah is a way of life in Islam and its objective are summarized as the Maqasid Shariah. The
general objective of shariah are to preserve the social order of the community and ensure the
equality, justice and harmony. Maqasid Shariah are the ultimate objective of the Islamic Law.
It considered to be the grand framework that provide guideline and directions for ensuring the
realization of benefit (maslahah) and harm (mafsadah). It should be well understood to ensure
it objectives can be achieved. Maqasid-Shariah and its relation to well-being is an important
issue that needs special attention by various parties, because Shariah regulates all aspects of
life, including belief, worship, politics, culture and economy (Iqbal, 1997; Chong & Liu, 2009;
Hearn et al., 2012). Meanwhile, welfare or well-being is the main agenda of policy makers to
ensure a better community life (Schleicher et al., 2018).
Several previous researchers tried to define well-being from Shariah perspective. Shahriar et
al. (2018) stated that well-being in the shariah perspective is when human needs are fulfilled,
including spiritual, social, and material aspects. Rasool et al. (2020) and Kader (2021) define
well-being from a shariah perspective with terms that are often used in the Qur'an; Hayatan
Tayyibah (the good life) and sa'adah (happiness). Hayatan Tayyibah includes psychic aspects
and psychological aspects. Meanwhile, (Kasri & Ahmed (2015), Hasib et al. (2020);
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Mohammed & Mansor (2021) use the terms Maslahah and Falah as two things that cannot be
separated from well-being in an Islamic perspective.
From the economic perspective, Islam has an economic vision that can guarantee economic
prosperity and social well-being (Nouman et al., 2021). Social well-being and economic
prosperity are the core of Maqasid-Shariah. Maqasid-Shariah is considered a realistic and
holistic concept as a complete life guide for the welfare of individuals and society. According
to Julia & Kassim (2020), economic well-being is a sustainable and balanced improvement in
the material and non-material contexts in this world and the hereafter. It involves
multidimensional process by reorganizing reorienting the economic and social system
following Islamic principles.
The Economic Planning Unit (EPU) defines well-being as a positive physical, social, and
mental state which stems from a host of collective goods and relations with people and places.
From Islamic perspective, well-being includes all improvement in human life including
material, spiritual and social justice (Yusof et al. 2019). In addition, Rosly and Abdul Rashid
(2003) highlighted that well-being required basic needs to be met and enhanced by conditions
that include supportive personal relationships, community empowerment, financial security,
rewarding employment, good health, and a healthy and attractive environment. Most of the
previous studies include per capita consumption (Osberg and Sharpe 2002, 2005 and 2011;
Mossie et al. 2021), accumulation of stocks, intensity of poverty and income inequality, and
economic security including job loss and family break-up (Osberg and Sharpe 2002, 2005 and
2011) as a components or dimensions of economic well-being. In another study such as (Chang
et al., 2019; Hong et al., 2019; Kumar et al., 2020; Dan et al., 2021 and Awang et al., 2021)
used income as a measurement of economic well-being especially for farmers.
Despite abundance of past traditional research shows various definitions and measurement for
well-being, but few of them relate with the Maqasid Shariah. Thus, this study attempts to fill
the gap in understanding and explaining dimensions under the Maqasid Shariah in protecting
human well-being. Excavation of these dimensions and elements are important to determine
the operational-based measures used to achieve prosperity. Then, the responsible authorities
can implement holistic and comprehensive policies related to well-being. Several previous
studies have been conducted to assess well-being and Maqasid Shariah, their dimensions, and
elements. However, no research explicitly examines Maqasid Shariah and well-being using the
Systematic Literature Review (SLR). To construct a relevant systematic review, this study was
guided by the main research question- what are the dimensions in Maqasid Shariah used to
protect human well-being? The main focus of the study on the Maqasid Shariah and well-being.
This study is divided into several sections: section 2 describes the methods we use to select and
review articles. Section 3 describes the results we found, including characteristics of the
studies, the definition of Maqasid Shariah, the concept of well-being in Shariah perspective,
the concept of well-being in shariah perspective, dimensions, and elements in Maqasid Shariah
used to protect well-being. Section 4 discusses discussions and suggestions for future research,
and section 5 explains the study's conclusion.
2.0. METHODOLOGY
2.1. The Review Protocol – PRISMA
This study uses Preferred Reporting Items for Systematic Reviews and Meta-Analyzes
(PRISMA). PRISMA is used to report systematic reviews and Meta-analyzes, especially for
conducting evaluations and interventions. A systematic review is a technique for reviewing
research questions that have been compiled with a systematic method, namely by identifying,
selecting, screening (including and excluding), and collecting data (Moher et al., 2009). The
author then analyzes the feasibility of the data for review. In this section, the author describes
the strategies used to obtain quality articles. Only high-quality and moderate articles are
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included in the analysis list. However, the authors can add other documents if considered
relevant (Strech & Tilburt 2008). Then the writer explains how to do abstraction and analysis
of articles that have been assessed for quality (Azril et al., 2020).
2.2. Formulation of Research Question

This study uses the formulation of the problem based on Problem, Interest, and Context (PICo)
(Murdoch University, 2021). PICo is usually used to formulate qualitative research questions.
According to Pico, three essential things in this research are well-being (problem), well-being
and maqasid sharia (interest), and Maqasid Sharia (context). We use these three points as
references in preparing the research questions below:
1. What is the definition of Maqasid- Shariah?
2. What is the definition of well being from shariah perspective?
3. What is the definition of economic well-being from shariah perspective?
4. What are the dimensions in Maqasid-Shariah used to protect well-being?
5. What are the elements in Maqasid Sharia used to protect well-being?
2.3. Systematic Searching Strategy

Three processes need in a systematic searching strategy, namely identification, screening,
eligibility.
Identification
Identification is the process of searching for all sources related to research using synonyms,
variations in keywords, and terms associated with the main keywords in research, namely well-
being, model, and Maqasid Shariah. This method is done to get more previous research for
analysis (Azril et al., 2020). The identification stage aims to find papers relevant to the research
question (Denyer & Tranfield, 2009; Okoli, 2015). The authors succeeded in multiplying the
keywords and creating a complete search string based on boolean operators, truncation, wild
cards, and phrase searching) in two primary databases: Scopus and WOS (Appendix 1).
We chose Scopus and WOS because they have a quality database and have many features that
make it easy to search articles relevant to the study (Martín-Martin et al., 2019; Gusenbauer &
Haddaway, 2020). According to Burnham (2006), Scopus has two search forms, basic and
advanced. The search can be limited based on the type of document, date, subject, author, and
recent articles. Scopus users can also use Boolean operators to make data screening easier. In
addition, we use google scholar as an effort to add reference to articles to be studied using
boolean operators AND and OR with a combination of the keywords "Economic well-being",
"Economic welfare" "Model", "Maqasid Sharia." We also use a manual search on google with
the same boolean operator technique. Based on (Jensenius et al., (2018), the advantages of
google scholar are easy to use, open access, consistent in search evaluation, and provide fast
results.
Screening
This study obtained 137 articles from scopus, and 73 articles from WoS. Articles appear
automatically after a search is done based on the keywords that we compiled. The articles'
selection is based on research questions or topic areas (Kitchenham, 2004; Budgen & Brereton,
2006). More in-depth article selection is to get papers that fit the research. We do this method
for the convenience of conducting reviews without spending a lot of time because it is almost
impossible to review all articles.
We do not screen by year, considering that Maqasid Shariah and well-being are theoretical
issues. Higgins & Sally (2011) stated that time limitation is carried out if an event occurs within
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a specific time. However, we does not limit the time. As for the place of research, we makes
no boundaries.
Eligibility
Eligibility is the process by which we analyze the final article. It is done by reading the articles'
title and the abstract; we also read the conclusions and the whole article to increase confidence
that it fits the studied topic. This process focuses on articles related to Maqasid Sharia and well-
being. In total, we obtained 66 articles for analysis.
Quality Appraisal
In this study, we only reviewed articles that were in the high and moderate categories. We
excluded low-quality articles in the analysis. According to Mark & Roberts (2006), articles are
categorized into three parts; high, moderate, and low.
Data Abstraction and Analysis
We used integrative review in this study. An integrative review allows the author to review
various studies using various methodologies, both empirical and qualitative. The authors read
and analyzes 66 articles ranging from titles, abstracts, results, discussions, and conclusions. We
grouped the research results based on panel and sub-panel in conducting the analysis. This step
is called thematic analysis. This method is to see the trend of the results of the articles.
We try to produce panels from the articles. We find panels (Maqasid Shariah dimension)
divided into safeguarding of faith, safeguarding of life, safeguarding of intellect, safeguarding
of posterity, safeguarding of wealth, safeguarding of honor, safeguarding of human rights,
safeguarding of social entity, and safeguarding of environment (ecology).
3.0. RESULTS
3.1. CHARACTERISTIC OF THE STUDIES
Figure 1: Publication by years

Articles classified by publication years. The table shows the number of articles among 66
articles that we summarize in this systematic review
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Figure 1 shows the number of articles by year of publication. The total is 66 articles from 2007-
2008. Most of publications were in 2020, amounting to 11 (17%) of the total articles. From
Figure 1, it can be concluded that the issue of Maqasid Shariah and well-being has long
received the attention of many researchers, especially in 2020.
Table 1 shows the quality of articles based on journals. We only reviewed articles in the high
and moderate categories of 66 from 45 journals; 37 are in the JCR Index category, from the
first quartile to the fourth quartile. Five journals in Q1, ten journals in Q2, 12 journals in Q3,
and ten journals in Q4. Based on the SJR index, five journals are in the JCR index category, 17
journals are indexed with Web of Science (ESCI). While the rest of the articles are not indexed
by Scopus or WoS, we include them in the moderate articles.
Table 1: Publication by Journals

Source Titles Record % 2020 SJR 2020 JCR
Count of 66 Index Index
Religion, State, & Society 1 1.52% 0.47 (Q1) -
International Journal of Islamic Economics and
2 3.03%
Finance Studies
Afkar 1 1.52% 0.15 (Q2) -
Islamic Economic Studies 4 6.06%
Humanomics 4 6.06% 0.21 (Q3)* -
ISRA International Journal of Islamic Finance 1 1.52% 0.35 (Q2) -
International Journal of Ethics and Systems 1 1.52% 0.24 (Q2) -
International Journal of Social Economics 2 3.03% 0.29 (Q2) -
Journal of Islamic Accounting and Business 0.30 (Q3) -
2 3.03%
Research
Journal of Islamic Marketing 2 3.03% 0.52 (Q2) -
International Journal of Development Issues 1 1.52% 0.17 (Q3)
Arab Gulf Journal of Scientific Research 1 1.52% 0.11 (Q4) 0.04 (Q4)*
Malaysian Journal of Consumer and Family 1 1.52% 0.12 (Q4)
Indonesian Journal of Islam and Muslim Societies 1 1.52% 0.2 (Q1) -
International Journal of Innovation, Creativity and 0.22 (Q2)
2 3.03%
Change
Islamic Quarterly 1 1.52% 0.10 (Q4)
Global Journal Al-Thaqafah 2 3.03% 0.10 (Q4) -
International Journal of Business and Management 0.12 (Q4)
1 1.52%
Science
Academy of Strategic Management Journal 1 1.52% 0.24 (Q3)
International Journal of Islamic and Middle Eastern 0.49 (Q2) 2.28 (Q3)
5 7.58%
Finance and Management
Al-Shajarah 1 1.52% 0.11 (Q3) -
Journal of Business and Economics 1 1.52%
Journal of Economic Cooperation and Development 1 1.52% 0.19 (Q3)
European Journal of Social Sciences 1 1.52% 0.10 (Q4)*
Journal of Business Ethics 2 3.03% 2.21 (Q1) 6.43 (Q1)
The American Journal of Islamic Social Sciences 1 1.52% 0.12 (Q3)*
Business & Economic Review 1 1.52%
Middle-East Journal of Scientific Research 1 1.52% 0.19 (Q3)*
International Journal of Economics, Management and -
2 3.03%
Accounting
International Journal of Business and Social Science 1 1.52%
Scottish Journal of Political Economy 1 1.52% 0.4 (Q2) 1.017 (Q4)
Pertanika Journal of Social Science and Humanities 1 1.52% 0.17 (Q3) -
Journal of Islamic Thought and Civilization (JITC) 1 1.52% 0.11 (Q3)
International Business Management 1 1.52% 0.12 (Q4)*
Humanities and Social Science Review 2 3.03% 0.66 (Q1)*
Jurnal Pengurusan 2 3.03% 0.17 (Q3)
Journal of Social Welfare and Family Law 1 1.52% 0.39 (Q2) -
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Sustainability 2 3.03% 0.61 (Q1) 3.25 (Q2)

Systematic Reviews in Pharmacy 1 1.52% 0.42 (Q2)*
Academy of Entrepreneurship Journal 1 1.52% 0.21 (Q3)
International Journal of Civil Engineering and 0.28 (Q2)*
1 1.52%
Technology
WSEAS Transactions on Business and Economics 1 1.52% 0.16 (Q4)
Pacific Business Review International 1 1.52% -
IIUM Law Journal 1 1.52% -
Intellectual Discourse 1 1.52% 0.1 (Q4) -
* Not yet assigned quartile in 2020
- Indexed with Web of Science (ESCI)
Table 2.
Articles on Maqasid Shariah and well-being based on country and documents. The table below
shows 66 articles identified by numeric code, from 1 to 66, following the list shown in
(Appendix 1)
Country Papers No. of
papers
Single-country sample (11 Countries) 7,8,9,10,11,14,15,16,17,20,21,27,28,29,34, 29
38,43,44,45,49,51,52,57,59,60,62,63,66
Palestine 7 1
Bahrain 8 1
Nigeria 9,52 2
Malaysia 10,14,20,21,34,38,60,66 8
Bangladesh 11,41 2
Indonesia 15,16,17,28,29,41,44,49,57,62 10
Pakistan 27,45 1
United Arab Emirates 43 1
South Africa 51 1
Kuwait 59 1
India 63 1
Multi-country sample 1,2,5,12,13,25,31,39,40,42,48,53,58 14
Malaysia, Indonesia, Nigeria, Niger, Senegal, 1 1
Germany, United Kingdom, France
Malaysia, Indonesia, Pakistan, Turkey, Qatar, 2 1
United Kingdom
Indonesia, India, Malaysia, Pakistan 5 1
Senegal, Indonesia, Sudan, Malaysia, Qatarm 12 1
UAEKuwait, Saudi Arabia
Arab Region 13 1
Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, 31 1
Malaysia, Bangladesh, Indonesia, Jordan,
Pakistan, Sudan, UK
Malaysia, Indonesia, Turkey, Saudi Arabia, 25 1
UAE, Qatar, Bahrain, Pakistan, Others
Bahrain, Saudi Arabia, Qatar, Kuwait, Oman, 39 1
United Arab Emirates
Middle East 700-1500 AD 40 1
Malaysia, Indonesia, Singapore, Philippines, 42 1
Thailand, Bangladesh, and Brunei
Bahrain and Malaysia 48 1
Malaysia, Bangladesh, Indonesia 53 1
Iran, Saudi Arabia, Kuwait, UEA, Bahrain, 58 1
Qatar, Malaysia, Indonesia, Bangladesh,
Pakistan, Africa, Sudan, Egypt, Tunis, Gambia,
UK, Turkey
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Document Sample 3,4,6,18,19,22,23,24,26,30, 23

32,33,35,36,37,46,47,54,55,56,61,66
Various literature about Maqasid and well-being 3,33 1
Classical and contemporary Islamic texts on 4 1
human well-being and economic ethics
various literature about Micro Finance 6 1
Institutions (MFIs)
Classical and contemporary Maqasid Literature 18,26,37 3
The literature about Waqf and Maqasid 19 1
Literature related to ethical–moral cum economic 22,23 2
coalition
combination of an extensive examination of 24 1
existing literature and critical analysis of the
outcomes of several relevant studies
Figure 2 shows the number of studies based on the research methodology used. 70% (46/66)
used a qualitative approach, and 30% (20/66) research used a quantitative approach. Many of
the articles we reviewed on the relationship between Maqasid Shariah and well-being were
conceptual articles analyzing the previous literature.
Type of Studies
30%
70%
Qualitative Quantitative
3.3. THE CONCEPT OF WELL-BEING IN SHARIAH PERSPECTIVE
Table 3: Well-Being
No. of
Well-being in Shariah Perspective Papers
papers
The Concept of Well-Being
2,3,4,5,6,7,8,9,11,12,15,16,17,18,19,20,22,23,24, 36
25,27,28,29,30,31,32,33,34,35,37,38,39,44,46,50,53,64
Regulating all aspects of private life and many
1 1
aspects of public life.
Hayatan Tayyibah (peaceful life) 3,4,27 3
Sa’adah 4 1
Maslahah 6,7,15,16,17,18,22,23,25,28,32,33,35,39,44,46 15
Falah 8,9,15,17,23,34,35,39 8
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Mutidimensional Development/Sustainable and

Inclusive Growth/Equitable Economic 2,5,11,12,19,20,23,24,25,28,29,33,37,39,50,53,64 16
Growth/Holistic and integrated development
Poverty Alleviation 5,15,18,38 4
Fulfillment of Necessities
(dharuriyah)/Fulfillment of Primary objectives of 16,30,31 3
Shariah (Individual and Social Oriented)
Ethico-moral cum economic coalition 22,23 2
3.3.1 Hayatan Tayyibah - Sa’adah

Well-being in the Islamic perspective is the fulfilment of the inner human being to achieve a
peaceful and good life (Hayatan Tayyibah). The objectives of Shariah are the development of
the world, the preservation of the economic and social system, and the maintenance of
goodness through human improvement ( Rasool et al., 2020). The hayatan tayyibah is also
mentioned by Kader, (2021). He stated that hayatan toyyibah has the same meaning as sa'adah
(happiness). Well-being in the Islamic perspective is the integration between the fulfillments
of five dimensions of Maqasid Shariah: safeguarding of faith, self, intellect, posterity, and
wealth with the concept of sa'adah. Sa'adah is a comprehensive concept that includes beatitude,
happiness, prosperity, success, perfection, and blessedness. (Mukhtar, Nihal, Abdul Rauf, et
al., 2014) stated that the hayatan tayyibah is the substance of Maqasid Shariah. It is much
different from the conventional economic idea of growth and welfare represented by GDP
(Gross Domestic Product). GDP has absolutely no relevance to hayatan tayyibah in Shariah.
3.3.2 Maslahah
The objectives of Shariah are to promote the well-being of the society (Maslahah) (Azid &
Asutay, 2007; Laluddin et al., 2012; Abdullah & Ismail, 2014; Bennett & Iqbal, 2013; Kusuma
& Ryandono, 2016). Meanwhile, (Dusuki & Abdullah, 2007) defines well-being with
maslahah as fulfilling benefits and avoiding harm (harm/evil). As-Syatibi divides maslahah
into three categories: Dharuriyah (essentials), hajiyah (complementary), and tahsiniyah
(embelishment). Two important things in achieving maslahah are removing hardship (raf' al-
haraj) and preventing harm (daf' al-dharar). In the context of Islamic banking, Migdad (2017)
stated that one of the reasons for the existence of corporate social responsibility (CSR) is the
substance of Shariah values in practice, namely bringing maslahah. According to Lamido,
(2020), in the maslahah discourse, if you meet two difficulties, the more incredible difficulty
must take precedence over the minor problem.
Research conducted by Azid et al. (2008) states that maslahah technically means any action to
protect one of the five objectives of Shariah: Safeguarding faith (din), self (nafs), intellect ('aql),
posterity (nasl ), and wealth (mal). So, there must be harmony between business and faith. The
company's goal is to maximize profits, but the company must set reasonable profits, fair prices,
wages, and the community's welfare. Dusuki & Abozaid (2007) stated that maslahah in the
Shariah discourse, the primary source is not human reason. Maslahah and Mafsadat (evil) must
comply with Shariah standards because Allah as the Law-giver is All-Knowing what is good
for humans
The objective of Shariah is to protect and ensure the public interest (maslahah) in all aspects
of human life (Kusuma & Ryandono, 2016). According to Hasib et al., (2020), the achievement
of needs in the context of welfare is called maslahah. Lamido (2020) stated that in maslahah,
more significant problems must take precedence to be fulfilled from more minor problems.
According to Yusuf et al. (2021), maslahah aims to create well-being and equity, maintaining
five essential things. In an economic context, maslahah means a fair distribution of income.
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3.3.3. Falah
From Islamic perspective well-being refer to Al-Falah, which means the effort to gain social
and economic welfare in this world and the love and grace of Allah in the hereafter (Hasib et
al.2020 and Mohammed & Mansor 2021). The objective of Shariah is to achieve Falah by
promoting maslahah and eliminating evil. So, there must be harmony between business and
faith. The company's goal is not only to maximize profits, but the company must set reasonable
profits, fair prices and wages, and the community's welfare (Azid et al., 2008). Kasri & Ahmed
(2015) stated that Falah can be achieved by protecting five essential things so that humans can
have a decent life. Dusuki & Abozaid (2007) and Hasib et al. (2020) stated that the ultimate
goal of Maqashid Shariah is the achievement of success in this world and the hereafter (falah).
In the context of Islamic banking, the avoidance of interest-based transactions and unethical
business practices are an effort to achieve Falah (well-being). Mohammad & Shahwan, (2013)
divided the objectives of Shariah in economics into two: philosophical-based objectives and
operational-based objectives. Philosophical-based objectives relate to the inner dimension.
Philosophical-based objectives are vertical and represent the word Falah. Meanwhile,
operational-based objectives are divided into six: economic-based objectives, social-based
objectives, justice-based objectives, self-based (inner-self) objectives, harm elimination
objectives, and state participation objectives.
3.3.4. Multideminsional Development

Shahriar et al. (2018) stated that welfare in Islam is when human material, spiritual, and social
needs are fulfilled. Research conducted by Herianingrum (2014) indicated that well-being in
Islam is balanced, holistic welfare that includes fulfilling spiritual and material needs both
within the scope of individuals and community groups. People will feel happy if there is a
balance between the world's welfare and the hereafter. Meanwhile, Yusof et al. (2019) stated
that well-being in an Islamic perspective improves all aspects of human life or increases the
quality of human life, including the material-physical and spiritual-religious-ethical
dimensions and the enforcement of social justice. Maqasid Sharia is considered a concept that
provides a comprehensive framework for holistic welfare based on the five components of
Maqasid Shariah, namely the preservation of faith, life, intellect, posterity, and wealth.
According to Asutay & Harningtyas (2015), in Islamic banking, Maqasid Shariah prohibits
separating the world and religious matters to create an ethical financial system with an Islamic
Moral Economy (IME) approach. IME refers to sustainable development, social justice, and
social investing-oriented principles (multidimensional development). Affandi & Astuti (2013)
cite Ibn Khaldun's opinion in his book Muqaddimah that the concept of well-being in Islam
depends on economic variables and moral, psychological, political, social, and demographic
factors.
According to Siddiqi et al. (2019), In the Islamic perspective, well-being is human development
through fair distribution and social justice and equity, including spiritual and material aspects.
Islam wants a balanced society; Islam prohibits the practice of interest and creates a balance
between the profit motive and well-being for the good of the whole community in the world
and hereafter. According to Nor (2016), the Islamic definition of well-being is very
comprehensive, not only on the material aspect but also on the moral-spiritual aspects, which
have tazkiyyah (growth and development) or self-purification substance.
In the economic context, Adham et al. (2012) stated that Economic well-being in Islam is a
balanced and sustained improvement of men's well-being in worldly life and hereafter.
Entrepreneurship, innovation, and equitable distribution of wealth in an industry are ways to
achieve well-being. Meanwhile, according to Ibrahim et al. (2011), economic well-being in
Islam increases the quality of human life balanced and sustainable in material and non-material
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aspects. This improvement is the multidimensional process through advancement,

reorganization, and reorientation of all aspects of the economy, social system, and social
improvement following Islamic teachings and guidelines.
According to (Julia & Kassim, 2020), economic well-being is a sustainable and balanced
improvement in the material and non-material contexts in this world and the hereafter from a
multidimensional process by reorganizing reorienting the economic and social system
following Islamic principles. Furthermore, the economic development index is measured
through three principles: growth, equity, and Islamic values. According to Hamid et al. (2020),
well-being in Islam can be achieved with equitable economic growth by developing green
economics to harmonize economic development with the preservation of the environment.
3.3.5. Poverty Alleviation

Poverty alleviation is vital in achieving community welfare (Affandi & Astuti, 2013). In the
context of today's modern world, the most important problems facing Muslim countries in an
economic context are underdevelopment and poverty (Kasri & Ahmed, 2015). Thus, reducing
poverty and underdevelopment can be considered an essential part of Maqasid Shariah. In other
words, poverty alleviation is a measure of well-being. Therefore, increasing welfare by
reducing poverty is the definition of well-being in the shariah perspective. Poverty in question
is Maqasid based multidimensional poverty/well-being measure. The author proposes three
steps to measure well-being:
- Define indicators of poverty/well-being.
- Determine welfare/poverty threshold.
- Determine Maqasid based multidimensional poverty.
Lamido (2020) stated that hardship must be eliminated to bring well-being. Difficulties are not
limited to only worship but also all aspects of human life as a whole, both in the short and long
term; this can include insecurity, health, economy, and other parts of life. One of the most
critical difficulties to eliminate is economic problems, such as poor hunger living, triggered
directly by poverty. Economic difficulties can cause many other challenges, so alleviating
economic problems is one of the most critical factors in measuring human welfare.
3.3.6. Fulfillment of Dharuriyah (Necessities)

Well-being in the Islamic concept is when the Dharuriyah (necessities) of humans are fulfilled
in society. Welfare is one of the central visions in the development of Islamic society.
According to Ibrahim et al., (2011), social well-being will be fulfilled when basic human needs
(necessities) are interconnected by implementing and realizing human rights such as education,
food, housing, health services, and fair income distribution. According to Mergaliyev et al.
(2021), well-being can be achieved when the primary objectives of Sharia are fulfilled, both
individually oriented and socially oriented.
3.3.7. Ethico-moral cum economic coalition
The integration between ethics and morals with the economy, which is the substance of the
Islamic economic system, will enhance the efficiency level of economic and improve human
welfare (Azid & Asutay, 2007; and Azid et al.2008). According to Islam, a selfless attitude
will improve the community's social welfare. When the economic system is concerned with
moral ethics, it will increase cooperation and economic participation in a society where
participation and cooperation are the substance of the Islamic economic system. In other words,
well-being will be achieved when there is an integration between moral ethics and economics.
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3.4. DIMENSIONS AND ELEMENTS IN MAQASID SHARIAH

This section discusses the nine dimensions of Maqasid Shariah from 66 articles, safeguarding
of faith, safeguarding of life/self, safeguarding of intellect, safeguarding of posterity,
safeguarding of wealth, safeguarding of honor, safeguarding of human rights, safeguarding of
social entity, and safeguarding of environment (ecology). Of the 66 articles, the reviewed paper
discusses the dimensions and elements of Maqasid Shariah and their relationship to human
well-being. Of the 66 articles, only Dzutsati & Warner (2021) conducted found a negative
relationship between implementation support for Shariah and human well-being. Research
Dzutsati & Warner (2021) does not explicitly discuss Maqasid Shariah but discusses the
relationship between support for Shariah and welfare. The author uses the provision of public
goods by the government as a measurement of social welfare. The other 65 studies explain the
relationship between Maqasid Shariah and well-being.
Safeguarding of Faith
Table 4a: Safeguarding of Faith (Empirical)
No. of
Dimensions in Maqasid Shariah Papers Papers
Panel A1: Safeguarding of Faith 2,9,11,12,15,16,20,27,29 17
,
31,38,41,42,43,48,52,53
War Againts Interest (riba), gambling, and other unethical
business 2,9,31,41,42,48,53 7
PLS Product in IBs. 2,31,42,48,53 5
Elimination of harmful elements that breed injustices in IBs. 2,31,42,43 4
Underlying Philosophy and Values within sharia principles in
IBs. 2,31 2
Waqf 9 1
Contribute to charity/ Paying Zakat, Infaq, Sedekah (ZIS), and 9,12,15,16,20,27,38,48,5
Qardul Hasan 2 10
Policy formulation and governance 11 1
Nature of Green financing (interest-based or interest-free) 11 1
Hajj (once in a lifetime) 15 1
Five daily prayers and Friday prayer 15,27,29 3
Fasting Ramadan (once a year) 15,29 2
Religious education (General religious knowledge) 15,29,38 3
Seeking knowledge and rememberence (ilm and zikr) 27,29 2
Wearing Hijab (women) 27,29 2
Reciting the Qur'an 27,29 2
Seeking God's forgiveness for wrongdoings (istighfar) 27,29 2
Involvement in preaching activities and other religious
movements 27,29 2
Attaining earnings from non-permissible means 27,29 2
Congregational prayer, funeral prayers, Eid prayers 29 1
Whether other things in life are more important than religion 29 1
Believe in the Divine will and decree 29 1
View of morality in the changing world 29 1
Religious beliefs can be compromised to attain self-interest 29 1
Importance of God and religion as a guidance 29 1
Performing religious obligation 38 1
Table 4b: Safeguarding Faith (Qualitative)
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No. of
Dimensions in Maqasid Shariah Papers Papers
Panel A1: Sefeguarding of Faith 3,4,6,8,10,13,17,18,19,23,24,25, 29
26,28,32,33,
35,36,37,39,49,50,57,58,59,60,6
1,63,64
Religious obligations 3 1
Seeking Knowledge 3 1
Charitable institutions; mutual gift-giving 3,4 1
Mousqe Activities 3,17,19 3
3,4,6,8,18,23,26,28,32,33,36,
Paying and distributing Zakat, Infaq, Sedekah (ZIS) 39,50,57,58,59,60,64 18
Testimony of faith and essential religious knowledge/Trust in
Allah 3,4 1
Five daily prayers, Friday prayer, other obligatory and
Voluntary prayers 4 1
Fasting Ramadhan and Voluntary fasts; fasting of the heart 4 1
Wisdom (hikmah), spiritual refinement (tazkiyah), and virtue
(Ihsan) 4 1
Ecotourism and visits to religious sites 4 1
Religious education (General religious knowledge)/proper
understanding of religion 4,37 2
Hajj (once in a lifetime) and Voluntary pilgrimage 4,19 2
Rahn and Qardul Hasan 6,8,24,39,50,59,61,63 8
Waqf 6,13,19,59 4
War Againts Interest (riba), gambling, money hoarding, and 6,18,23,24,25,26,32,33,34,35,
other unethical business 39,49,50,57,59,61,63 17
Implementation of Al-Tawhidi principles 6,24,64 3
Establishing a Waqf Based-Takaful Model 10 1
Praying in the form of carrying out religion’s instructions 17 1
PLS Product 24,25,39,49,50,59,61,63 8
implementing justice as stipulated by Sharia 26 1
Re-establishing the sunnah of the Khulafaur Rashidin 26 1
Underlying Philosophy and Values within sharia principles
in IBs. 39 1
According to Rasool et al. (2020), elements in Maqasid Shariah in safeguarding faith are
religious obligations, religious education, contributing to charity, seeking knowledge, mosque
activities, and trust in Allah. Kasri & Ahmed (2015) divided safeguarding of faith into four
elements: prayers and fasting, Islamic/Qur'an studies, Charity (Sadaqah), and Hajj (great
pilgrimage). Lamido (2016) stated that Maqasid Shariah wanted a proper understanding of
religion. It will minimize conflicts between followers of different religions.
Based on Kader (2021) welfare includes inner dimensions (batin) and outer dimensions (zahir).
The external dimension is related to faith, morals, and awareness of the existence of Allah. In
comparison, the outer dimensions relate to religious practices such as prayer, zakat, and others.
Both of these dimensions must be met for spiritual well-being to arise. Research conducted by
Mukhtar et al. (2014) and Yusof et al. (2019) emphasizes the importance of using and
promoting hijab (veil) for Muslim women, seeking God's forgiveness for wrongdoings
(istighfar), performing religious obligation, attaining earnings from haram means and others
for safeguard faith.
Meanwhile, Salleh et al. (2020) suggest the need to establish a waqf-based takaful model to
reduce the financial burden of individuals and businesses due to flooding. This effort needs to
be made to create community welfare and achieve Maqasid Shariah. Budalamah et al. (2019)
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stated that Waqf is a distribution instrument that has historically been successful for community
development, social welfare, overcoming economic and environmental crises. Shahriar et al.,
(2018) stated that Waqf plays an important role in providing well-being for humans in health,
social welfare, education, the environment, and other community empowerment programs.
Ahmed et al. (2017) dan Jedidia & Guerbouj (2020) found zakat's importance in achieving
economic prosperity. Zakat does reduce not only economic problems but also social security
and poverty eradication. So that zakat promotes inclusive growth (economic well-being in
sharia perspective). Kusuma & Ryandono (2016) and Lamido (2020) found that zakat is used
to measure the level of welfare. In addition, it can be used as a measuring tool to measure
religiosity. Herianingrum (2014) used zakat expenditure as a measure of farmer welfare.
According to Hamid et al. (2020), zakat does not only provide benefits to the recipient
(Mustahiq) but also the giver (Muzakki). Islamic economic system is based on the concept of
interest-free and emphasizes the importance of zakat to achieve human welfare (Azid et al.,
2008). According to Adham et al. (2012) and Hassan et al. (2017), zakat can impact personality
development and make society harmonious and peaceful. Zakat can also improve the
community's economic status and increase their welfare in this world and the hereafter.
According to Haniffa & Hudaib (2007); Aliyu et al. (2017); Sodiq et al. (2020); and
Mohammed & Mansor (2021), social activities such as the practice of zakat, Waqf, and Qardul
Hasan (benevolent loan) are also emphasized in banking practice. They are one of the goals
and functions of Islamic banking, namely for the development and social goals. Research on
Islamic social banking conducted by (Nor, 2016) also emphasizes the importance of zakat and
other charitable activities (Infaq, Sadaqah, and Qardul Hasan) as a social function to develop
the community. The idea of an Islamic social bank was initiated to build a strategic and
comprehensive social banking system to solve social problems. Siddiqi et al. (2019) also
emphasizes the obligation to pay zakat for Islamic banks as their social responsibility. All of
these activities contribute to the welfare of society. Cham (2018) said that zakat in Islamic
banks is a means of distributing wealth to people in need. Alhammadi (2022) noted that zakat
and Qardul Hasan have a significant function in reducing poverty, mitigating inequality, and
being a powerful instrument for recovery during COVID-19.
Meanwhile, Abdullah & Ismail (2014) emphasize the importance of implementing the
principles of tawhid and distributive justice in all microfinance institution practices.
Consequently, microfinance institutions must earnestly implement interest-free transactions,
Rahn and Qardul Hasan, as well as Waqf. Ajaz (2013) said that Qardul Hasan is an Islamic
mode of finance unique in Islamic banking. Research conducted by (Dusuki & Abozaid, 2007;
Ajaz, 2013; Bennett & Iqbal, 2013; Asutay & Harningtyas, 2015; Yuspin et al., 2020;
Mergaliyev et al., 2021; Al-Momani, 2021; Tok & Yuse, 2022) emphasize the importance of
the uniqueness of Islamic banking, namely the prohibition of interest not only meeting the
needs of the Muslim community but also for the development of all communities. (Lebdaoui
& Wild, 2016) found that the factor that caused economic growth was PLS-based finance.
Hossain (2009) found that interest had a severe adverse impact on society's economy, morals,
and welfare. Interest is a corrupt system that has destroyed the fabric of humanity throughout
history and civilization. An essential element to note is profit-loss sharing (PLS) products and
the percentage of halal income earned by Islamic banks.
Tahir (2015) stated that interest must be abolished because it will cause the loss of barakah. To
achieve well-being, Shariah prohibits Islamic banks from financing products that contain
speculation and gambling (Dusuki & Abdullah, 2007). According to Rahman et al. (2016), an
Islamic bank is an Islamic financial institution considered fairer and built on socio-economic
welfare. The substance of Islamic banks is the prohibition of usury and profit-loss sharing
(PLS)/profit sharing investment. Researchers reveal the importance of ethical identity
disclosure (EEI) in Islamic banks, including zakat, charity, benevolent loans (Qardul Hasan).
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According to (Zarrouk et al., 2017), PLS is a product that makes banks more careful in making
their loan decisions. PLS (risk-sharing) mode is considered more efficient because it can reduce
adverse selection and moral hazards (Othman et al. 2017).
In particular, Julia & Kassim (2020) highlight the green banking performance of Islamic and
conventional banks in Bangladesh. There are two elements in the dimension of safeguarding
of faith: Policy formulation and governance and Nature of Green financing (interest-based or
interest-free). According to Kayed (2012), Islam prohibits money hoarding because it will
hamper economic development and hinder socio-economic justice between communities. All
forms of transactions that contain interest are unfair. The solution is the implementation of
Profit-Loss Sharing (PLS) contracts and the implementation of social agreements such as
Qardul Hasan and Rahn. From the Islamic point of view, well-being has a comprehensive
definition that not only means growth but is also closely related to tawhid.
Safeguarding of Life/Self
Table 5a: Safeguarding of Life/Self (Empirical)
Dimensions in Maqasid Sharia Papers No. of Papers

Panel A2: Safeguarding of Life/Self 2,11,15,20 8
29,31,38,40
Investment ratios in vital real sector 2,31 2
Financing Microfinance 2,31 2
Environmental risk management 11 1
In-house environment management 11 1
Awarness of Health 15 1
Consumption of Food and Nutrition (Household Consumption) 15,20 2
Access to Healthcare 15,29,38 3
Healthcare Needs (access to healthcare) 29 2
Having adequate clothing 29 1
House has access to clean water 29 1
Living a moral life 29 1
Having good relations with family and relatives 29 1
Having good relations with neighbors 29 1
Living in peaceful neighborhood 29 1
Basic Shelter 29,38 1
better living standard 40 1
Table 5b: Safeguarding of Life/Self (Qualitative)
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Panel A2: Safeguarding of Life/Self 3,4,6,8,14,17,18,19, 15
25,26,28,30,32,36,37
Frequency of Sick 3 1
Body Fluid Weight 3 1
Consumption of Food and Nutrition 3,4,18,28,30,37 6
Access to Healthcare/maintaining health 3,4,18,19,28,30 6
Needed physical infrastructure 4 1
Safe and secure neighbourhood 4 1
Communal Rights 4 1
Ascetic architecture 4 1
Fulfilling the human potential of oneself and others 4 1
Basic individual rights and freedoms 4 1
Basic Shelter 4,18,30,37 4
Right to Life 4,37 2
Peace of mind/safe from insecurity 4,37 2
Earning a living for the individual and his dependents 6 1
Developing Value-Based Banking Products 8 1
Community-Based Investment 8 1
providing facilities in IBs to sustainable projects through loans
to individuals and corporates 8 1
Conserving and preserving the environment 8,17 2
SPA products and services 14 1
Preserving humans' quality of life 17 1
equitable access to natural resources 25 1
correcting previous injustices and restoring rights 26 1
avoiding from killing innocent people 30,36 2
Pleasant speech and manner urges gentleness 32 1
Fair dealing 32 1
According to Kasri & Ahmed (2015); Shahriar et al. (2018); Rasool et al. (2020); Lamido
(2020), the objective of safeguarding of life is to protect all things that can ensure coverage of
basic needs and health, such as consumption of food and nutrition, awareness of health, and
access to healthcare. (Alkire & Foster, 2010) states that nutrition is essential. According to
Hamid et al. (2020), final household consumption affects the green economy, impacting human
welfare and social justice. Herianingrum (2014) uses consuming nutritious food and
maintaining health as essential elements to achieve farmers' well-being.
According to Kader (2021), safeguarding life includes spiritual, physical, and psychological
aspects. At the basic level, clothing, food, and shelter must be fulfilled. In addition, access to
health services and being safe from dangers and threats is also crucial element. On the
psychological aspect, political freedom and expression of opinion maintain human dignity.
Meanwhile, Rasool & Salleh (2014) used health and shelter/dwelling elements. Yusof et al.
(2019) mentioned elements of safeguarding life, including basic shelter, adequate clothing, the
house having access to clean water, living a moral life, having good relations with family and
relatives, and having good relations with neighbors. Lamido (2016) also explained that
providing food, shelter, safety from insecurity, and the right to live is an essential part of
Maqasid Sharia.
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To achieve well-being, Shariah obliges humans to earn a living for themselves and their
families (Abdullah & Ismail, 2014). The rising demand for SPA services is due to an expanding
need for physical, mental, and social well-being. Hasib et al. (2020) specifically examine the
impact of Mangrove ecotourism on the safeguarding of life. The author stated that conserving
and preserving the environment through Mangrove ecotourism is a way to maintain mental
health and sustainably improve life. According to Bennett & Iqbal (2013), all communities
have equal opportunities to obtain economic rights and self-improvement, such as equitable
access to natural resources to achieve economic development.
Research conducted by Tahir (2015) explicitly examines the policies carried out by Umar bin
Abdul Aziz to achieve public welfare. One of the essential policies carried out by Umar bin
Abdul Aziz was correcting previous injustices and restoring rights. Meanwhile, Ibrahim et al.
(2011) and Mohamad et al. (2020) mention that avoiding killing innocent people is a form of
safeguarding life. Shariah is also encouraging to speak and act well, be fair, and act fairly
(Dusuki & Abdullah, 2007). Shatzmiller (2021) found that better living standards could
increase economic growth and welfare in the medieval Middle East.
Asutay & Harningtyas (2015) and Mergaliyev et al. (2021) mention that the elements of
safeguarding self in Islamic banking are investment ratio in the real vital sector and financing
microfinancing. These two elements are essential because of the characteristics of Islamic
banking, which must pay attention to the underlying assets in a transaction, especially in the
real vital sector. According to Mohammed & Mansor (2021), Islamic banking must develop
Value-Based Islamic banking products by making community-based investments. It can
improve standards of living community development, improve social services such as human
resource development, environmental protection, poverty alleviation, support for small and
medium enterprises, and provide other positive impacts for community development. Julia &
Kassim (2020) mentioned two elements under safeguarding life, environmental risk
management and In-house environment management. This action is taken so that Islamic bank
investors are not involved in investments that damage the environment and increase employee
awareness in recycling used resources.
Safeguarding of Intellect
Table 6a: Safeguarding of Intellect (Empirical)
Dimensions in Maqasid Sharia Papers No of Papers

A3: Safeguarding of Intellect 2,11,15,29,31,38,40 7
Advancement of Knowledge and improvement 2,31 1
Creating Awareness of Islamic Banking 2,31 1
Skill/Installing new skill 2,31,38 3
Online banking 11 1
Employee training, consumer awareness, and green events 11 1
Innovative products 11 1
Acess to school (education) 15 1
Academic/school achievement 15 1
School Attandance 15 1
Ability to operate a computer and use the internet 29 1
Enjoy learning new things 29 1
Having adequate nutrition during the growing age 29 1
Allocate time for reading 29 1
Keeping abreast with current affairs/information 29 1
Not Refering to shaman/spirit medium 29 1
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Improve Knowledge 29 1
Not Consuming alcohol or drugs 29 1
Not Watching pornography/prostitution 29 1
Education Level 38 1
Improvement in human capital 40 1
Table 6b: Safeguarding of Intellect (Qualitative)

Panel A3: Safeguarding of Intellect 3,4,17,18,19,21,28 13
30,32,35,37,57,63
Motivational Programs 3 1
The literacy level of household 3 1
School Attandance 3 1
Education Level 3 1
Instilling new skill and improvements 3,21,57 3
Advancment/acquiring of Knowledge 3,21,30 3
Primary, Secondary, and tertiary Education 4 1
Existence of the Environmental Education Department 17,37 2
Spending on Education (schools)/educational services 18,19 2
Creating awareness of Islamic Banking 21 1
Allocate expenditures to improve skills in farming 28 1
Freedom of expression 30 1
Not involved in any activities detrimental to mind 30 1
Training program in Islamic Bank 32,57,63 3
Not Consuming alcohol or drugs 32,35 2
Not Watching pornography/prostitution 32,35 2
Elements of safeguarding of intellect that become a measure of welfare achievement include

the literacy level of the household, school attendance, skill level, education level, and
knowledge improvement. Meanwhile, Kasri & Ahmed (2015) stated that safeguarding of life
is a person's ability to access education and increase knowledge, including access to school,
school attendance, basic knowledge from schooling, and school achievements. Rasool & Salleh
(2014) stated that education and skills are essential factors to increase knowledge.
Research conducted by Yusof et al. (2019) emphasizes the importance of increasing knowledge
such as allocating time to read, write and learn new things, the author also emphasizes the
importance of avoiding negative influences that can damage the mind such as not consuming
alcohol and drugs, and not watching porn. In addition to damaging the mind, consuming
alcohol and drugs and watching pornography can also damage human health and behavior
(Dusuki & Abdullah, 2007). According to Dusuki & Abozaid (2007), if Shariah prohibits
drinking alcohol, there must be wisdom behind the prohibition. Intellectual capacity
improvement can be made by providing educational services and other incentives to increase
intellect's creativity and effectiveness (Lamido, 2016). According to Ibrahim et al. (2011),
Shariah commands to advance knowledge and prohibit everything that can damage it.
Kader (2021) divided education into primary, secondary, and tertiary education. Primary
education includes essential religious knowledge, and worldly knowledge; primary education
is dharuriyah (necessities)." In Islam, primary education is the right of all human beings and
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an individual obligation (fard 'ain). Meanwhile, secondary and tertiary education is at the level
of hajjiyah (need) and tahsiniyah (embellishment), depending on the knowledge model needed
by the community. Lamido (2020) stated that safeguarding intellect through good education or
other effective methods is expected to have a significant positive effect on the achievement of
Maqasid Shariah. So it is necessary to allocate funds to finance education. (Shahriar et al.,
2018) suggested using Waqf to finance education.
Shatzmiller (2021) research on the medieval Middle East found that improvement in human
capital can increase economic growth and human welfare. Specifically, in the context of
Mangrove ecotourism, Hasib et al. (2020) mention that the existence of the environmental
education department in the management of Mangrove ecotourism is a form of safeguarding
reason. In the context of agricultural development, allocating costs to improve skills in farming
is a form of safeguarding intelligence (Herianingrum, 2014).
In Islamic banking, Julia & Kassim (2020) mention three elements of safeguarding intellect;
online banking, Employee training, consumer awareness and green events, and innovative
products. Sodiq et al. (2020) said that Islamic banks need to create training programs to
improve employee knowledge and skills. Meanwhile, Shamsudin et al. (2018) and Mergaliyev
et al. (2021) mentioned three crucial elements to safeguard intellect in Islamic banks, including
advancing knowledge, installing new skills, and creating awareness of Islamic banking. A
continuous training program at an Islamic bank is one way to educate people and increase their
knowledge capacity (Dusuki & Abdullah, 2007). Ajaz (2013) mentioned that it is necessary to
research in training and development of people so that they promote Islamic banking
Safeguarding of Posterity
Table 7a: Safeguarding of Posterity (Empirical)

A4: Safeguarding of Posterity 2,11,15,29 7
31,38,40
Redistribution of Wealth 2,31 1
Environmental conservation 4,29 2
Environmental regeneration 4,29 2
Climate risk fund 11 1
Standard reporting format in Ibs 11 1
Better Future for Family 15 1
Harmony 15 1
Anti-Social Activities 15 1
Participation Community Activities 15 1
Basic, moral, and religious education for the future generation 29,38 1
Having pre-natal care during pregnancy 29 1
Children have the necessary immunization 29 1
Providing adequate attention to children (Monitoring children's behavior and
activities) 29 1
Home district is free from pollution 29 1
Marriage 29 1
Children 38 1
Elevated household income 40 1
Birth Control (‘Azl) 40 1
Table 7b: Safeguarding of Posterity (Qualitative)
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Panel A4: Safeguarding of Posterity 3,4,17,28,36,37,51,66 7
Personal Liberty and Freedom 3 1
Better Future for Family 3 1
Harmony 3 1
Social Activities 3 1
Participation Community Activities 3 1
Children 3 1
Marriage 3,4,36,37,51 5
Fulfilling rights of and duties towards: spouse, family, neighbor,
community and nature 4 1
Upbringing needs of children 4 1
Virtuous upbringing and comportment (husn al-tarbiyyah adab) 4 1
Love, peace, and tranquility (husn al-ʾishra) 4 1
Strengthen family ties (silat al-arham) 4 1
Friendliness, care, and concern (husn al-jiwar) 4 1
Community outreach and engagement 4 1
Environmental conservation 4 1
Environmental regeneration 4 1
preserving the quality of the environment and
the sustainability of human generation 17 1
Farmers' expenditures to improve the quality of life of their children 28 1
Child care and child education 28,36 2
Prohibition of Pornication and rape 37 1
Muslim personal law 51 1
Family waqf 66 1
According to Kasri & Ahmed (2015) and Rasool et al. (2020), Islam is very concerned about
the urgency of maintaining posterity because it is very closely related to household well-being.
Islam commands marriage to preserve posterity and prohibits adultery and promiscuity. Among
the elements in safeguarding posterity are harmony, a better future for the family, participation
in community activities, personal liberty, and others. Kader (2021) stated that caring and
maintaining posterity ensures how well today's generation will be responsible for conditions in
the future. In this case, marriage is vital because a healthy marriage can produce a strong family
and a brilliant generation. According to Chapra (2008a, b), an intelligent generation will lead
to dynamic and productive citizens. Apart from marriage, maintaining offspring can also be
done by maintaining good relations with relatives, neighbors, community and safeguarding
environmental conditions.
According to Lamido (2016), evidence of the safeguarding of posterity is the command to
marry and the prohibition of all forms of adultery and anything that causes adultery to occur.
Concrete evidence of the importance of marriage in Sharia is the existence of laws governing
marriage, family, education of offspring, and the obligation to provide sustenance for the
family (Mohamad et al., 2020). According to Yusof et al. (2019), safeguarding posterity has
several components: family survival, progeny protection, protection, and guarantee for future
generations. Several things need to be done to achieve this component, a) Basic, moral, and
religious education for future generations, b) Having pre-natal care during pregnancy, c)
Children have the necessary immunization, and others.
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Rasool & Salleh (2014) included elements of having children and child education as part of the
safeguarding of posterity. Abdullah (2012) stated that the existence of Muslim personal laws
such as marriage rules can improve the welfare of Muslim families if implemented and
appropriately advocated by the local government. Different things are shown by research
conducted by Shatzmiller (2021); there is robust literature evidence that shows that in Islam,
birth control ('azl) is legal according to Sharia and has been widely practiced in the Middle East
medieval. This practice is often carried out during difficult times, such as when the black death
occurs. Couples who do birth control want to avoid difficulties and a better future for their
offspring. Researchers found a strong relationship between birth control and economic realities,
such as better living standards and higher incomes.
Research conducted by Julia & Kassim (2020) to explore green banking performance provides
two elements to protect future generations: climate risk funds and standard reporting formats.
Banks should allocate funds to mitigate climate risk; banks should also separate green banking
reports from other reports. Meanwhile, Mergaliyev et al. (2021) included redistribution of
wealth (wages, tax, shareholders, depositors, ZIS, Waqf) as a form of safeguarding offspring
in Islamic banking. Sadique & Ansari (2016) found that a family waqf is a valuable form of
investment for the welfare of future generations. In the context of Mangrove ecotourism, the
element of safeguarding posterity is preserving the quality of the environment and the
sustainability of human generation (Hasib et al., 2020). According to Herianingrum (2014), in
agriculture, there are two things that farmers need to do to ensure the good for the generation,
namely farmers' expenditures to improve the quality of life of their children and child
education.
Safeguarding of Wealth
8a: Safeguarding of Wealth (Empirical)

A5: Safeguarding of Wealth 2,9,11,15,20,27, 11
29,31,38,40,42,
Earning ability from Permissible sources (halal) and meets subsistence 2,27,31 2
Fair returns 2,31 1
Distress predictability 2,31 1
Implementation of Islamic moral transaction mode (Adl, Ihsan,
generosity) 9 1
Green finance and green marketing 11 1
Risk – return analysis 11 1
Skill 15 1
Employability 15 1
Having stable and sufficient income as well as financial investment 15,29,39 3
Savings and investment 15,29,38 3
Purchasing Power 15 2
Green economic growth 20 1
Social Capital 20 1
Protection of property rights 29,40 2
Taking necessary precautions to safeguard property 29 1
Ability to manage own and family finances 29 1
Considered to be a spendthrift 29 1
Giving of charity 29 1
Having home/vehicle insurance 29,38 2
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Safe and Secure employment 38,39 2

Financial Deepening 42 1
8b: Safeguarding of Wealth (Qualitative)

No of
Dimensions in Maqasid Sharia Papers Papers
3,4,6,7,8,17,21,22,24,26,28,30,32,3
Panel A5: Safeguarding of Wealth
3,37,44 29
45,47,49,50,54,55,56,57,58,59,61,6
2,64
Skill 3 1
Savings 3 1
Purchasing Power 3 1
Earning Income in halal way and meets subsistence 3,4,6,17,24,30,33 7
Sustaining one's dependants 4 1
Fulfilling personal, familial, societal needs 4 1
Fulfilling work; self-esteem and self-actualization; arts
and crafts 4 1
Establish sustainable organization, e.g., Waqf, to support
virtuous causes 4 1
Safe and Secure employment 4,30 2
Providing microcredit to the poor 6,59 2
Making CSR practices more visible and connected to the
community 7 1
Maximizing CSR Practices in Islamic Bank 7,8,32 3
Profitability 21 1
Investment in business and vital real sector and
Enterpreneirship 21,24,47,57,59,61,64 7
Redistribution of Income and Wealth 21,37 2
Ethics-moral cum economic coalition 22 1
Trade liberalization and removing tax 26 1
Reforming the economy and utilization of empty land 26 1
Increasing income from agricultural products 28 1
Equitable distribution of Income and Wealth in Ibs 33 1
Halal tourism 44,62 2
Sukuk 45,59 2
Creation of young entrepreneurs 47 1
Innovative product in IBs. 49 1
Promoting 'adl wal Ihsan (jsustice and beneficence) 50 1
Ta'min (Islamic insurance) 54 1
Islamic Money Market 55 1
Al-Muzara'ah and Al-Mutsaqah in farmer 56 1
Crowdfunding 59 1
Islamic Cooperative 65 1
Ibrahim et al. (2011); Mukhtar, Nihal, & Abdul Rauf (2014); Kasri & Ahmed (2015); Rasool
et al. (2020); Hasib et al. (2020) states that safeguarding of wealth is in the form of the ability
to earn income for a better life. Assets must be obtained in a lawful (halal) way, avoiding
property from damage, theft, and other harmful consequences. In addition, skills to acquire
wealth, savings, and purchasing power are essential elements in safeguarding wealth. Wealth
in Sharia must bring prosperity equitably and reduce poverty and inequality. Research
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conducted Kader (2021) emphasizes the importance of obtaining wealth in a lawful way to
meet personal and family needs. The law of providing for oneself and one's family in Sharia is
an individual obligation (fard 'ain). Suppose a person does not have the ability to fulfill his life
and his family. In that case, the community has a collective obligation (fard kifayah) to fulfill
the obligations of people in need through instruments of distribution of wealth in Islam, such
as zakat. This is done so that the community is able to meet their needs fairly and equitably so
that collective welfare emerges.
According to Yusof et al. (2019), safeguarding wealth has several elements, including
managing own and family finances, savings, having stable and sufficient income, having
financial investments, etc. Asutay & Harningtyas (2015) and Mergaliyev et al. (2021)
emphasize three crucial elements in safeguarding wealth: earning ability, fair return, and
distress predictability. Meanwhile, according to (Abdul Rasool & Salleh, 2014), the measure
of welfare in the context of property is house ownership, saving and investment, and
employment.
Abdullah & Ismail (2014) stated that Islamic microfinance must provide financing to poor
people and people with low incomes in the financial institutions' context. Refusal to distribute
wealth to the needy is considered a violation of the Shari'a. According to Kayed (2012),
investments made in Islamic banking should be productive and permissible (halal) businesses.
Siddiqi et al. (2019) stated that halal business carried out by Islamic banks should not only be
profit-oriented. But it must also promote Islamic norms and values so that they can reasonably
meet society's needs. This action will lead to the fulfillment of the goals of Islamic economics,
namely the equitable distribution of income and social well-being. Meanwhile, Nor (2016)
stated that promoting 'adl wal Ihsan (justice and benevolence) is the substance of an Islamic
social bank that will impact well-being.
According to Sodiq et al. (2020), the economic activities carried out by Islamic banking aim to
realize economic justice. Aliyu et al. (2017) found that Islamic moral transaction modes that
follow Maqasid Sharia through the emphasis on the importance of Adl, Ihsan, and generosity
play a role in moderating the sustainability of the Islamic banking business. This mode will
affect the business of Islamic microfinance Bank (IMFBs) and the welfare of the people.
Research conducted by Lebdaoui & Wild (2016) found that financial deepening affects the
large size of the Islamic banking sector with higher economic development. Alhammadi (2022)
stated that Islamic banking is considered capable of reconstructing the economy and achieving
sustainable economic development because, in the practice of Islamic banking, there is a
Maqasid sharia substance, namely protecting assets. The way to gain well-being is with
innovative entrepreneurship.
According to Julia & Kassim (2020), the bank's primary function is to channel money from
surplus units to unit deficits so that public welfare is achieved. Based on the authors' findings,
he recommended that banks prioritize financing renewable energy projects, wastewater
treatment plants, biofertilizer factories, etc. Banks need to carry out green finance and green
marketing because green the economy and internal conservation strategies can safeguard the
wealth. Furthermore, Hamid et al. (2020) found that social capital and green economic growth
positively affect human welfare in economic activity in Malaysia. Green economics is
important because, often, economic growth is not accompanied by the protection of nature.
Green growth is an important instrument for achieving human well-being, sustainable
development, and reducing the risk of environmental damage due to economic activities.
Issoufou (2019a) found that creating young entrepreneurs is the most crucial element to
increase economic growth and reduce poverty to bring well-being to a country. In the financial
context, according to Issoufou (2019b), the Islamic money market can drive savings for
investment, so it is helpful for economic development and creates jobs. It will have an impact
on the welfare of the community. Adham et al. (2012) emphasized the importance of
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technological innovation and entrepreneurship to achieve prosperity. Islam emphasizes the

importance of tawhid in every innovation process so that there are always substantial Islamic
values in the results. Meanwhile, Hussain & Khalil (2019) found that Sukuk had a positive role
in economic growth in Pakistan. In addition, Islamic insurance (ta'min) also plays a vital role
in well-being (Kadirov, 2020).
Zulkifli et al. (2019) and Yusuf et al. (2021) found that halal tourism affects economic
development in the form of government spending, added value, job opportunities, and income.
The author found that halal tourism has a positive effect on economic growth. Halal tourism
variables are hospitality, halal food, infrastructure, amenities, human resources, and tourism
events. In the context of agriculture, Shafiai & Moi (2015) found that financing agriculture
through financial institutions can be used as effective and efficient financing for agriculture.
So there needs to be an agricultural finance system based on Islamic contracts such as Al-
Muzara'ah and Al-Mutsaqah to improve farm sustainability and reduce poverty. Another study
conducted by Issyam et al. (2016) stated that Islamic cooperatives affect well-being.
Safeguarding of Honour
Table 10a: Safeguarding of Honour

Panel A6: Safeguarding of Honour 18, 26, 30 3
Individual privacy rights 30 1
Not doing adultery and false accusation 30 1
Not exposing or accusing others of misbehaviors 30 1
Research conducted by Tahir (2015) includes safeguarding honor ('ird) as a step Umar bin
Abdul Aziz took to reform society. Ibrahim et al. (2011) mentioned that two essential elements
in safeguarding honor are preserving individual privacy rights and not sharing the disgrace of
others. This act is forbidden in Islam because it damages relations between people and damages
one's honor. Shihab al-Din al-Qarafi (d. 1285CE) was the first scholar to include the
safeguarding of honor in addition to the five dimensions of Maqasid proposed by Al-Ghazali
(Hasan & Ali, 2018).
Safeguarding of Human Rights and Stakeholding, Social Entity, and Environment (Ecology)
Table 10a: Safeguarding of Human Rights
Paper No. of
Dimensions in Maqasid Sharia s Papers
Panel A7: Safeguarding of Human Rights 2,31 2
Interest-free and Islamically Acceptable Deals—Product Aspects 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—general aspects 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—BOD aspects 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—executive
management aspect 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—Committees aspects 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—Sharia Governance 2,31 2
Corporate Governance Indicator (Fairness and Transparency)—Other Aspects 2,31 2
Ethical behaviour and consumers’ rights 2,31 2
Panel A8: Safeguarding Social Entity 2,31 2
Developmental and Social Goals (Zakah, charity, and benevolent loans) 2,31 2
Redistribution of income & wealth 2,31 2
Panel A9: Safeguarding of Environment 2,8,31 3
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Environment Indicators in IBs 2,8,31 3
Asutay & Harningtyas (2015) and Mergaliyev et al. (2021) added three dimensions to the five
dimensions mentioned by Ghazali. The three dimensions are safeguarding human rights,
safeguarding social entities, and safeguarding of environment (ecology). According to Auda
(2007); Asutay & Yilmaz (2018), Al-Ghazali's definition of Maqasid was criticized for its lack
of social aspects and more focused on individual-oriented goals. Asutay & Yilmaz (2018)
further state that Maqasid Sharia must be free from the limitations of fiqh and must have moral
substance so that it can have a wider reach.
Research conducted by Asutay & Harningtyas (2015) and Mergaliyev et al. (2021) examines
explicitly Maqasid Sharia performance in Islamic banks using eight dimensions of Maqasid
Sharia. The research was conducted by analyzing the annual report of Islamic banks. In
safeguarding human rights, they include elements of Good Corporate Governance (GCG), both
in BOD Aspects, executive management aspects, committees’ aspects, Sharia Governance, and
other aspects. They also include interest-free and Islamically Acceptable Deals (Product
Aspects), Ethical behavior, and consumers' rights.
In the dimension of safeguarding social entities, the element that becomes the emphasis is
social development carried out by Islamic Banks. Social development in Islamic banks is
undoubtedly related to allocating social funds by banks such as zakat, charity, and benevolent
loans. In the dimension of safeguarding the environment, the element used is the disclosure of
environmental information on Islamic banks. Research conducted by Mohammed & Mansor
(2021) on value-based Islamic banking also emphasizes the importance of disclosing
environmental information. According to Rahman et al. (2016), one of the crucial things in
ethical identity disclosure (EEI) in Islamic banks is disclosing environmental issues. Nor
(2016) stated that financing projects in an Islamic social bank should not damage the
environment. Meanwhile, Tok & Yuse (2022) stated that the concept of value-based banks
requires banks to earn profits by investing in projects that do not damage the environment.
4.0. DISCUSSION AND SUGGESTIONS FOR FUTURE RESEARCH

This study defines Maqasid Shariah with two approaches, i) Maqasid Shariah in a general
definition and ii) Maqasid Shariah in an economic perspective. Maqasid Shariah cannot be
separated from the concepts of maslahah (public interest) and mafsadat (evil). When meeting
two Maslahah, the bigger one should take precedence, and when meeting two evils, the bigger
one should be avoided by tolerating the smaller one (Azid et al., 2008). In the economic context,
well-being is closely related to the fair and equitable distribution of wealth. Money is a tool to
“develop the earth” (Kayed, 2012).
Previous studies have only defined Maqasid Shariah from two perspectives; universals and
economics. In addition to the general definition, we suggest the need to understand Maqasid
Shariah in a more specific definition, such as Maqasid Shariah in an environmental perspective
(ecology). Further research is vital to explain the definition of Maqasid Shariah from various
perspectives so that interested parties such as policymakers can formulate the most appropriate
and comprehensive policies to achieve well-being.
This research also describes the concept of well-being and economic well-being from Shariah
perspective. Well-being is closely related to hayatan tayyibah (the good life) and sa’adah
(happiness) (Rasool et al., 2020; Kader, 2021; Mukhtar, Nihal, & Abdul Rauf 2014). While
other researchers, such as Shahriar et al. (2018) dan Yusof et al. (2019), define Shariah beyond
the economic aspect, namely improving the quality of life, which includes the material-physical
spiritual-religious-ethical dimensions and social justice. In the economic context, poverty
alleviation can achieve well-being because poverty and hunger are the main problems Muslim
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countries face in this era. (Affandi & Astuti, 2013; Kasri & Ahmed, 2015; Kasri & Ahmed,
2015).
We suggest that future research also defines well-being with hasanah (goodness) in addition to
hayatan tayyibah, falah, sa'adah, and maslahah. Exploring the concept of hasanah is essential
so that we get a more comprehensive concept of well-being from a shariah perspective. The
Qur'an uses the word hasanah to represent the goodness obtained by humans 33 times in the
singular form and four times in the plural form.
In the context of the dimensions and elements of Maqasid shariah, we found most of the
research still focused on the operational-based elaboration (elements) of the five dimensions
and Maqasid shariah proposed by Al-Ghazali, namely safeguarding of faith, life, intellect,
posterity, and wealth. However, few studies comprehensively address the safeguarding of
honor, as for the dimensions of safeguarding human rights, social entity, and the environment,
which still only focus on Islamic banks' research. In the future, there needs to be an expansion
of the scope of study that does not only focus on aspects of Islamic banking but all aspects, be
it spiritual, social, and material aspects. It is because Maqasid Shariah is not limited to
economic and financial factors. Interested parties must have a comprehensive picture of the
measure of well-being.
5.0. CONCLUSION
Research on Maqasid Shariah and its relationship to well-being is a critical issue to get a
comprehensive picture of how Shariah explains well-being and know all the things that
measure well-being. This study aims to determine the relationship between Maqasid Shariah
and well-being using a systematic literature review (SLR) method from two primary data
sources, namely Scopus and Web of Science (WoS). Through a systematic searching strategy,
we found 66 articles from 2007 to 2022. We found 46 articles using qualitative methods and
20 articles using qualitative methods.
This research contributes to the definition of Maqasid Shariah, the concept of well-being in
Shariah perspective, dimensions, and elements of Maqasid Shariah used to protect well-being.
After analyzing 66 articles, we divide the definition of Maqasid Shariah into two parts; Maqasid
Shariah in a universal perspective and an economic perspective. We also find seven concepts
of well-being from a shariah perspective; Hayatan tayyibah, sa'adah, Falah, Maslahah,
multidimensional development, poverty alleviation, fulfillment of dharuriyah, and Ethico-
moral cum economic coalition.
We also found nine dimensions of Maqasid Shariah, namely safeguarding of faith, self,
intellect, posterity, wealth, honor, human rights, social entity, and environment (ecology). In
each dimension, we describe elements as operational-based and measures that can be used to
achieve well-being. In safeguarding faith, we found two elements used the most by previous
researchers: zakat, infaq, sadaqah, qardul hasan, and war against interest. In safeguarding of
self, we found three elements used most frequently by previous researchers; consumption of
food and nutrition, access to healthcare, and basic shelter.
Meanwhile, in safeguarding intellect, we found two elements that are most often used as a
measure; skills and advancement of knowledge. In safeguarding posterity, we find two
elements that are most often used as a measure; marriage and child care/child education. In
safeguarding wealth, we find three important elements; earning abality from halal sources,
having stable income, savings, and investment. In safeguarding honor, we found three
elements; Individual privacy rights, not doing adultery and false accusations, and not exposing
or accusing others of misbehavior. In safeguarding human rights, social entities, and the
environment, we found that in general, we found four elements; Ethical behavior and
consumers' rights, Developmental and Social Goals, Redistribution of income & wealth, and
environmental indicators in an Islamic bank.
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This study provides several recommendations to further researchers. First, we suggest that
further research is vital to explain the definition of Maqasid Shariah from various perspectives,
not just a general definition, so that interested parties such as policymakers can formulate the
most appropriate and comprehensive policies to achieve well-being. Second, we suggest that
further researchers dig deeper into the concept of hasanah (goodness) in the Qur'an and relate
it to well-being. The term hasanah is repeated 33 times in the singular and for times in the
plural in the Qur'an. Third, we suggest researching and multiplying the safeguarding elements
of honor, human rights, social entity, and environment.
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Jurnal Akuntansi dan Keuangan Islam
Volume 7(1) April 2019, hlm. 37-58
P-ISSN: 2338-2783 | E-ISSN: 2549-3876
PENGUNGKAPAN KINERJA SOSIAL PERBANKAN SYARIAH DI

INDONESIA MENGGUNAKAN ISLAMIC SOCIAL REPORTING
INDEX
Darihan Mubarak, Sigit Pramono & Ai Nur Bayinah

Sekolah Tinggi Ekonomi Islam SEBI
Email: darihan.mubarak@gmail.com
ABSTRACT
The research aims to determine the disclosure of the social performance of Islamic
banking based on the ISR index. The method used in this research is qualitative
content analysis. Qualitative content analysis is also called Ethnographic Content
Analysis (ECA), which is a combination of objective content analysis and participant
observation where researchers interact with documentation materials. The population
in this study are all Islamic Commercial Banks (BUS) in Indonesia with a sample of
BUS which has published annual reports for the 2015-2017 period using purposive
sampling method. From the assessment results using the ISR index, it was found that
BSM occupies the highest disclosure value in the 2015-2017 period. The average per
year shows that the reporting of social performance of Islamic Bank tends to increase
with a good predicate.
Keywords: ISR Index, Social Performance, Islamic Bank, Annual Report
1. PENDAHULUAN
Perbankan Syariah adalah lembaga intermediasi yang menghimpun dana dari

masyarakat dan menyalurkan kembali kepada masyarakat yang
membutuhkan dalam bentuk pembiayaan tanpa berdasarkan prinsip bunga,
melainkan berdasarkan prinsip syariah (Sjahdeini, 2007). Dalam konsep dan
praktiknya, Bank Syariah juga mempunyai fungsi sosial.
Perkembangan Perbankan Syariah di Indonesia mengalami
peningkatan dalam satu dekade terakhir ini. Menurut data yang
dipublikasikan dalam Statistik Perbankan Syariah bulan Desember 2017 oleh
Otoritas Jasa Keuangan dimana jumlah Bank Umum Syariah (BUS) tercatat
sebanyak 13 BUS, 21 Unit Usaha Syariah dan 167 Bank Pembiayaan Rakyat
Syariah yang tersebar di seluruh Indonesia dengan total jaringan kantor
sebanyak 2.610. Total asset perbankan syariah adalah 435.02 Triliun dan
market share 5,78% dari total market share perbankan nasional (OJK, 2017).
Tidak hanya di Indonesia, aktivitas perbankan syariah di Negara lain
juga mengalami pertumbuhan. Berdasarkan data yang dipublikasikan oleh
Islamic Financial Service Board (IFSB), total asset Perbankan Islam
mencapai 1,493.40 Triliun Dollar AS. Jumlah ini mewakili 80 persen total
aset keuangan Islam global (IFSB, 2017). Namun, sejalan dengan
pertumbuhan ini, para peneliti mulai mengkritisi Perbankan Syariah yang
dianggap belum maksimal memberikan kontribusi dalam upaya mendukung
38 Jurnal Akuntansi dan Keuangan Islam Vol. 7, No. 1 (April 2019)
penguatan keadilan sosial dan ekonomi bagi masyarakat, Dengan kata lain,
fungsi sosial dari perbankan syariah belum maksimal (Nor, 2016).
Tanggung jawab sosial (CSR) merupakan sebuah gagasan yang menjadikan
perusahaan tidak lagi dihadapkan pada tanggung jawab yang berpijak pada
single bottom line, yaitu nilai perusahaan (corporate value) yang
direfleksikan dalam kondisi keuangannya (financial) saja. Tetapi tanggung
jawab perusahaan harus berpijak pada triple bottom line yang juga
memperhatikan masalah sosial dan lingkungan di dalamnya. Hal ini berarti
tujuan perusahaan harus mampu meningkatkan laba perusahaan,
menyejahterakan karyawan dan masyarakat, sekaligus meningkatkan
kualitas lingkungan. Sejak peluncuran ISO 26000 pada awal November 2010
oleh lembaga International Organization for Standardization (ISO)
mengenai Guidance on Social Responsibility, komponen triple bottom line
bertambah dengan adanya aspek prosedur (procedure). Secara keseluruhan
CSR berarti bentuk kepedulian perusahaan yang menyisihkan sebagian
keuntungan (profit) bagi kepentingan pembangunan manusia (people) dan
lingkungan (planet) secara berkelanjutan berdasarkan prosedur yang tepat
(Wulandari, 2016)
Dalam konteks Islam, telah diketahui bahwa tanggung jawab sosial
perusahaan (Corporate Social Responsibility) adalah bagian dari ajaran Islam
berdasarkan pada Al-Quran dan Sunnah Nabi Muhammad SAW. Dengan
demikian, sebuah entitas syariah seperti perbankan syariah diwajibkan untuk
memberikan tanggung jawab kepada masyarakat dan lingkungan. Hal ini
karena entitas seperti perbankan syariah mempunyai hubungan dengan
Allah, manusia, dan lingkungan. Karenanya, entitas syariah diminta untuk
berkontribusi terhadap pembangunan ekonomi sebagai bagian dari hubungan
mereka dengan manusia dan lingkungan sesuai dengan Maqasid Syariah
(Muwazir, Muhamad, & Noordin, 1970). Pertumbuhan sektor keuangan
harus diikuti dengan meningkatnya peran perbankan syariah dalam tanggung
jawab sosial (Dusuki & Dar, 1991)
Perbankan Syariah digambarkan sebagai institusi yang memiliki
reputasi sosial (Maali, Casson, & Napier, 2006). Hal ini secara resmi diakui
oleh banyak bank bahwa kegiatan dan tanggung jawab sosial ditekankan pada
perbankan syariah karena hal ini merupakan bagian dari tujuan dan fungsi
dari bank syariah itu sendiri (El-Askher, 1987). Tanggung jawab sosial dari
sebuah bisnis adalah konsep penting yang berhubungan dengan daya tahan
ekonomi sebuah entitas, hal ini karena ia akan berdampak pada reputasi,
sumber daya, dan hubungan dengan stakeholder (Rahin, 2014).
Tanggung jawab sosial adalah sebuah standar perilaku bahwa sebuah
bisnis harus mempunyai instrument yang mempunyai dampak kepada
masyarakat dengan cara yang positif dan produktif yang mengacu pada nilai
nilai diluar dari mencari keuntungan. Oleh karena itu, dalam perspektif Islam,
perbankan syariah tidak bisa lepas dari hal ini. Sehingga, tanggung jawab
sosial perbankan syariah tidak hanya pada mendistribusikan zakat kepada
orang miskin dan orang yang membutuhkan tetapi harus diperluas ke arah
kesejahteraan masyarakat dan aktivitas lain yang dapat mempengaruhi
Mubarak, Pramono & Bayinah: Pengungkapan Kinerja Sosial Perbankan Syariah... 39
masyarakat secara positif yang kemudian akan berdampak kepada

pembangunan masyarakat (Dusuki & Dar, 1991)
Terkait dengan adanya kebutuhan mengenai pengungkapan tanggung
jawab sosial di perbankan syariah, marak diperbincangkan mengenai
Islamic Social Reporting Index (ISR). Indeks ISR berisi item-item standar
CSR yang ditetapkan oleh AAOIFI (Accounting and Auditing Organization
For Islamic Financial Instutions) yang kemudian dikembangkan lebih lanjut
oleh para peneliti mengenai item-item CSR yang seharusnya diungkapkan
oleh suatu entitas syariah (Fitria & Hartanti, 2010). Indeks ISR adalah
perluasan dari social reporting yang meliputi harapan masyarakat tidak
hanya mengenai peran perusahaan dalam perekonomian, tetapi juga peran
perusahaan dalam perspektif spiritual (Haniffa, Social Reporting Disclosure
An Islamic Perspective, 2002).
Penelitian ini bertujuan untuk memberikan bukti empiris mengenai
kinerja sosial perbankan syariah di Indonesia melalui Islamic Social
Reporting Index (Indexs ISR) yang terdiri dari enam tema yaitu: pendanaan
dan investasi (finance and investment), produk dan jasa (product and
services), tenaga kerja (employees), masyarakat (society), lingkungan hidup
(enviroment theme) dan tata kelola perusahaan (corporate governance).
2. LANDASAN TEORI
2.1 TEORI LEGITIMASI
Pengungkapan dapat digunakan oleh perusahaan untuk menunjukkan kepada

masyarakat bahwa mereka memenuhi kewajiban mereka kepada stakeholder.
Teori Legitimasi menyatakan bahwa organisasi harus terus berusaha
membangun kesesuaian antara nilai nilai sosial yang terkait dengan norma
norma dalam organisasi mereka atau norma yang ditetapkan oleh masyarakat
dimana mereka berada (Deegan & Blomquist, 2006).
Legitimasi adalah status yang merupakan hasil persepsi kolektif
masyarakat tentang operasi organisasi. Ini adalah penilaian sosial atau
penilaian perilaku perusahaan yang dianggap dapat diterima, sesuai dengan
yang diinginkan (Zimmerman & Zeitz, 2001). Oleh karena itu, diharapkan
supaya perusahaan berperilaku sesuai dengan apa yang bisa diterima di
masyarakat sehingga mereka dianggap sebagai “good” corporate citizens.
Suchman (1995) menekankan bahwa legitimasi adalah "persepsi umum atau
asumsi bahwa tindakan suatu entitas yang diinginkan tepat atau sesuai dalam
beberapa sistem norma-norma, nilai, keyakinan dan definisi yang dibangun
secara sosial". Prinsip dasar teori legitimasi adalah bahwa persepsi
perusahaan oleh masyarakat didasarkan pada bagaimana organisasi itu
bertindak sesuai atau dengan harapan yang ditentukan secara sosial
(Suchman, 1995)
Legitimasi merupakan sistem pengelolaan perusahaan yang
berorientasi pada keberpihakkan terhadap masyarakat, pemerintah individu,
dan kelompok masyarakat. Legitimasi perusahaan di mata stakeholder
merupakan faktor yang signifikan untuk mendukung citra dan reputasi

perusahaan dimata stakeholder. Legitimasi dalam pelaksanan CSR bagi
perbankan syariah sangat relevan dengan landasan kegiatan operasi
perusahan yang dimana lebih mengutamakan kemaslahatan umat dan ibadah
kepada tuhan (Wulandari, 2016).
2.2. TEORI STAKEHOLDER
Teori stakeholder mengatakan bahwa perusahaan bukanlah entitas yang

hanya beroperasi untuk kepentingannya sendiri namun harus memberikan
manfaat bagi stakeholdernya. Dengan demikian, keberadaan suatu
perusahaan sangat dipengaruhi oleh dukungan yang diberikan oleh
stakeholder kepada perusahaan tersebut. Kelangsungan hidup perusahaan
tergantung pada dukungan stakeholders sehingga aktivitas perusahaan adalah
untuk mencari dukungan tersebut. Semakin powerful stakeholder, maka
semakin besar usaha perusahaan untuk beradaptasi. Pengungkapan sosial
dianggap sebagai bagian dari dialog antara perusahaan dengan
stakeholdernya (Handoko, 2014).
Perusahaan tidak hanya sekedar bertanggungjawab terhadap para
pemilik (shareholder) sebagai mana terjadi selama ini, namun bergeser lebih
luas yaitu sampai ranah sosial kemasyarakatan (stakeholder). Tanggung
jawab yang semula hanya diukur sebatas pada indikator ekonomi (economic
focus) dalam laporan keuangan, kini harus bergeser dengan
memperhitungkan faktor-faktor sosial (social dimentions) terhadap
stakeholder, baik internal maupun eksternal. Teori ini merupakan teori yang
sangat cocok dalam penelitian CSR, dikarenakan sejalan dengan prinsip
CSR yang dimana lebih memperhitungkan faktor-faktor sosial baik internal
maupun eksternal perusahaan (Wulandari, 2016).
2.3 KONSEP CORPORATE SOCIAL RESPONSIBLITY (CSR) DALAM ISLAM
Dalam perspektif Islam, Corporate Social Responsibility (CSR) merupakan

realisasi dari konsep ajaran ihsan sebagai puncak dari ajaran etika yang
sangat mulia. Ihsan merupakan melaksanakan perbuatan baik yang dapat
memberikan kemanfaatan kepada orang lain demi mendapatkan ridho Allah
swt. Disamping itu, CSR merupakan implikasi dari ajaran kepemilikan dalam
Islam. Allah SWT adalah pemilik mutlaq (haqiqiyah) sedangkan manusia
hanya sebatas pemilik sementara (temporer) yang berfungsi sebagai penerima
amanah. Corporate Social Responsibility (CSR) ternyata selaras dengan
pandangan Islam tentang manusia sehubungan dengan dirinya sendiri dan
lingkungan sosial, dapat direpresentasikan dengan empat aksioma yaitu
kesatuan (tauhid), keseimbangan (equilibrum), kehendak bebas (free will)
dan tanggung jawab (responsibility) (Darmawati, 2014).
Sebuah organisasi bisnis memiliki peran penting dalam kehidupan
ekonomi dan sosial masyarakat sepanjang zaman. Tanggung jawab sosial
mengacu pada kewajiban bahwa organisasi harus melindungi dan
berkontribusi kepada masyarakat di mana ia berada. Oleh karena itu, CSR
adalah hal yang penting bagi organisasi bisnis yang bernafaskan Islam
(Masuma, 2012). Hal ini memiliki makna taqwa di mana sebuah perusahaan
sebagai sekelompok individu, dengan berdasarkan peran dan tanggung jawab
sebagai hamba dan khalifah dalam segala situasi. Maka hal ini harus
terwujud dalam kegiatan bisnis serta dalam hubungan dengan semua
stakeholders (Siwar & Hossain, 2009)
Dalam perspektif Islam, tanggung jawab sosial yang dilakukan
oleh sebuah organisasi bisnis merupakan sesuatu yang dapat memberikan
manfaat bagi organisasi tersebut. Hal ini bukan hanya karena masalah
kewajiban hukum dan hak-hak material stakeholders. Namun juga karena
kewajiban moral dan masalah kelangsungan hidup organisasi yang
bersangkutan maupun masyarakat, karena keduanya memiliki ketergantungan
satu sama lain. Setiap ketidak patuhan atas tanggung jawab sosial akan
menimbulkan masalah. Nabi Muhammad (saw) bersabda:
Artinya: "Dengan melakukan amal sosial, kekayaan tidak akan berkurang
... (Muslim, jilid 4, no: 6264)."
Dari hadits ini, jika kita terapkan dalam sudut pandang CSR, dapat
disimpulkan bahwa Nabi telah menjamin untuk setiap manfaat yang
diberikan ke masyarakat akan kembali sebagai manfaat yang lebih besar bagi
organisasi bisnis yang bersangkutan (Parvez & Ahmed, 2001).
Dengan demikian, dalam Islam, kinerja bisnis dinilai berdasarkan
seberapa baik sumber daya dikelola untuk pemberdayaan masyarakat.
Konsep ummah menunjukkan bahwa masyarakat memiliki hak dan
kepentingan dalam apa pun yang dimiliki oleh seorang Muslim. Organisasi
bisnis dianggap sebagai institusi yang merupakan kumpulan manusia, dan
bagian dari Komunitas Islam. Oleh karena itu, perhatian untuk kemaslahatan
orang lain, bersamaan dengan milik sendiri, menjadi bagian yang tak
terpisahkan. Individu dan perusahaan didorong untuk berkorban dan
mengeluarkan kekayaan mereka untuk orang miskin dan yang membutuhkan
dengan mengharapkan pahala hanya dari Tuhan (Abdullah & Dusuki, 2007)
2.4 ISLAMIC SOCIAL REPORTING
Dalam perspektif Islam, pengungkapan terdiri dari dua syarat umum:

pengungkapan penuh (full disclosure) dan akuntabilitas sosial (social
accountability) (Baydoun & Willett, 2002). Publik memiliki hak untuk
mengetahui dampak dari operasional sebuah organisasi terhadap
kesejahteraan dan ada indikator yang ditetapkan oleh syariah untuk
mengetahui apakah tujuan yang ditetapkan telah tercapai (Baydoun & Willet,
1997) . Salah satu cara untuk memberikan pengungkapan penuh dalam
konteks Islam adalah dengan ISR (Othman, Ghani, & Thani, 2009)
ISR adalah pelaporan sosial yang mencakup tidak hanya harapan yang
lebih luas dari masyarakat berkaitan dengan peran perusahaan dalam
ekonomi tetapi juga pada perspektif spiritual (Haniffa, Social Reporting
Disclosure An Islamic Perspective, 2002). Dalam ISR, perhatian pada
keadilan sosial melebihi pelaporan tentang lingkungan, kepentingan
minoritas dan karyawan. ISR berfokus pada isu-isu yang berkaitan dengan
kesejahteraan masyarakat yang menyangkut minat dan praktik perdagangan

yang tidak adil (Sulaiman, 2005) seperti distribusi pendapatan (zakat).
Concern seperti ini sesuai dengan teori stakeholders dimana manajemen
memberikan informasi kepada pengguna sehingga dapat mempertahankan
kesuksesan perusahaan. Keberadaan dan kesuksesan perusahaan yang
berkelanjutan bergantung pada dukungan dari para stakeholders (Ullmann,
1985). Oleh karena itu, penting bagi manajemen untuk mengidentifikasi,
mengevaluasi dan menyebarluaskan informasi yang terkait dengan informasi
sosial dan lingkungan sesuai dengan permintaan para stakeholders (Zain,
1999).
Sejalan dengan makin meningkatnya pelaksanaan Corporate Social
Responsibility (CSR) dalam dunia bisnis, maka semakin meningkat pula
keinginan untuk membuat pelaporan sosial atau yang sering disebut dengan
social reporting. Banyak pendapat yang menjelaskan mengenai
pengungkapan social reporting. Social reporting merupakan perluasan dari
sistem pelaporan keuangan yang merefleksikan perkiraan yang baru dan yang
lebih luas dari masyarakat sehubungan dengan peran komunitas bisnis dalam
perekonomian (Haniffa, Social Reporting Disclosure An Islamic Perspective,
2002).
Islamic Social Reporting (ISR) merupakan standar pelaporan kinerja
sosial perusahaan perusaaan yang berbasis syariah. Indeks tersebut
dikembangkan dari standar pelaporan berdasarkan Accounting and Auditing
Organization for Islamic Financial Institutions (AAOIFI) yang kemudian
dikembangkan oleh masing-masing peneliti berikutnya. Secara khusus
indeks ini adalah perluasan dari standar pelaporan kinerja sosial yang
meliputi harapan masyarakat tidak hanya mengenai peran perusahaan dalam
perekonomian, tetapi juga peran perusahaan dalam perspektif spiritual.
Selain itu, indeks ini juga menekankan pada keadilan sosial terkait mengenai
lingkungan, hak minoritas, dan karyawan (Gustani, 2015)
Kerangka pelaporan tanggung jawab sosial yang turut memperhatikaN
spiritual hadir dalam bentuk indeks Islamic Social Reporting (ISR) yang
pertama kali dikembangkan oleh Haniffa (2002). ISR merupakan perluasan
dari kerangka pelaporan konvensional yang tidak hanya berisikan aspek
material, moral, ataupun sosial saja, namun juga memperhatikan bentuk
produk serta jasa yang ditawarkan oleh sebuah perusahaan.Produk atau jasa
tersebut haruslah memenuhi kaidah-kaidah islami, yaitu bebas riba spekulatif,
samar-samar, serta transaksi haram lainnya. Salah satu unsur dalam ISR
yang tidak terdapat dalam kerangka pelaporan konvensional adalah adanya
zakat, shodaqoh, wakaf, dan bentuk amaliah lainnnya yang digolongkan
berdasarkan masing-masing cara perolehan penyalurannya (Putra, 2014).
2.5 PENILAIAN KINERJA SOSIAL BANK SYARIAH
Pada dasarnya tujuan dari pengukuran kinerja perbankan tidaklah jauh

berbeda dengan kinerja perusahaan pada umumnya. Pengukuran kinerja
perusahaan dilakukan untuk melakukan perbaikan dan pengend (Hutapea,
2013)alian atas kegiatan operasinya agar dapat bersaing dengan perusahaaan
lain. Selain itu, pengukuran kinerja juga dibutuhkan untuk menetapkan

strategi yang tepat dalam rangka mencapai tujuan perusahaan. Dengan kata
lain mengukur kinerja perusahaan itu merupakan fondasi berdirinya
pengendalian yang efektif (Hutapea, 2013). Untuk melihat kinerja sosial
perbankan syariah perlu dibuat predikat sesuai dengan kriteria yang
menunjukan keadaan bank syariah tersebut.
Tabel 1. Predikat Kinerja Sosial Perbankan Syariah
Keterangan Bobot (%)
Sangat Baik 81 s/d 100
Baik 66 s/d < 81
Kurang Baik 51 s/d < 66
Tidak Baik 0 s/d <66
Sumber: Rahma (2012)
Selanjutnya berkaitan dengan penentuan angka kriteria maka

diberikan nilai untuk masing-masing sebagai berikut: Peringkat 1 dengan
kriteria sangat baik diberikan apabila mendapat bobot penilaian 81% s/d
100%, peringkat 2 dengan kriteria baik diberikan apabila mendapat bobot
penilaian 66% s/d <81%, peringkat 3 dengan kriteria kurang baik diberikan
apabila mendapat bobot penilaian 51% s/d < 66%, peringkat 4 dengan
kriteria tidak baik diberikan apabila mendapat bobot penilaian 0% s/d < 51%
(Virgowati, 2013).
3. METODE PENELITIAN
3.1 METODE PENELITIAN
Metode yang digunakan dalam penelitian ini adalah analisis isi media
kualitatif. Altheide (1996) mengatakan bahwa analisis isi kualitatif disebut
pula sebagai Ethnographic Content Analysis (ECA), yaitu perpaduan analisis
isi objektif dengan observasi partisipan. Artinya, istilah ECA adalah keadaan
dimana periset berinteraksi dengan material material dokumentasi. Analisis
isi kualitatif ini bersifat sistematis, anaitis, tapi tidak kaku seperti dlam
analisis isi kuantitatif. Dimana penelitian bertujuan untuk mengetahui tingkat
pengungkapan kinerja sosial Bank Syariah di Indonesia brdasarkan indeks
ISR melalui analisis isi laporan tahunan Bank Umum Syariah (BUS). Content
analysis adalah suatu teknik sistematik untuk menganalisis isi pesan dan
mengolah pesan, atau suatu alat untuk mengobservasi dan menganalisis isi
perilaku komunikasi yang terbuka dari komunikator yang dipilih. Content
analysis dapat digunakan untuk menganalisis surat kabar, situs web, iklan,
rekaman wawancara, dan juga laporan tahunan perusahaan. Dengan metode
Content analysis memungkinkan peneliti mengrtaui berapa besar jumlah
informasi yang disampaikan oleh objek penelitian dan dapat digunakan untuk
mengidentifikasi secara sistematis terkait sifat-sifatnya, seperti ada atau
tidaknya kata kata, konsep, karakter, tema, atau, kalimat kalimat (Budd,
1967).
3.2 JENIS DATA PENELITIAN
Data yang digunakan dalam penelitian ini adalah data sekunder. Data
sekunder yaitu data yang telah ada dan tidak perlu dikumpulkan sendiri oleh
peneliti (Sekaran, 2006) atau data yang diperoleh dengan cara mengakses
sumber data sekunder yang dapat dipercaya dan bisa dipertanggungjawabkan
secara ilmiah. Data yang digunakan untuk penelitian ini diambil dari offcial
website bank-bank syariah yang ada di Indonesia. Data tersebut yaitu laporan
tahunan untuk periode Tahun 2015 sampai dengan 2017.
3.3 PEMILIHAN SAMPLE
Sampel adalah bagian dari jumlah dan karakteristik yang dimiliki oleh
populasi (Sugiyono, 2014). Populasi dalam penelitian ini adalah seluruh
Bank Umum Syariah (BUS) di Indonesia. Sedang perusahaan yang menjadi
sampel dalam penelitian ini adalah perusahaan yang berdasarkan metode
purposive sampling dengan tujuan untuk mendapatkan sampel yang
representative sesuai dengan kriteria yang ditentukan. Pengambilan sampel
dengan metode ini cukup baik karena sesuai dengan pertimbangan peneliti
sendiri sehingga dapat mewakili populasi. Adapun kriteria sampel yang akan
digunakan dalam penelitian ini adalah sebagai berikut:
1. Bank Umum Syariah (BUS) yang beroperasi di Indonesia hingga tahun
2017
2. Bank Umum Syariah (BUS) yang telah mempublikasi laporan tahunan
periode 2015 sampai 2017 di website resmi masing-masing.
Berdasarkan penilaian peneitian, maka jumlah sample yang seuai
dengan kriteria sample diatas sebagai berikut
Tabel 2. Jumlah Sample Penelitian
Sample Jumlah
BUS yang beroperasi di Indonesia hingga tahun 2017 13
BUS yang tidak memublikasikan annual report periode (1)
2015-2017
Total sample yang Memenuhi 12
Sumber : Diolah Peneliti, 2018
Tabel 3. Daftar Bank Umum Syariah (Sample Penelitian)

No Nama Bank Official Website
Bank Muamalat
1 www.bankmuamalat.co.id
Indonesia
2 Bank Victoria Syariah www.bankvictoriasyariah.co.id
3 Bank BRI Syariah www.brisyariah.co.id
Bank Jabar Banten
4 www.bjbsyariah.co.id
Syariah
5 Bank BNI Syariah www.bnisyariah.coid
6 Bank Syariah Mandiri www.syariahmandiri.co.id
7 Bank Mega Syariah www.megasyariah.co.id
Bank Panin Dubai
8 www.paninsyariah.co.id
Syariah
9 Bank Syariah Bukopin www.syariahbukopin.co.id
10 Bank BCA Syariah www.bcasyariah.co.id
Maybank Syariah
11 www.maybanksyariah.co.id
Indonesia
Bank Tabungan
12 www.btpnsyariah.com
Pensiunan Negara
3.4 ANALISIS DATA
Teknik analisis data yang digunakan dalam penelitian ini adalah analisis data
kualitatif berdasarkan Sugiyono (2014) dengan langkah sebagai berikut:
1. Pengumpulan Data (Data Collection) Pengumpulan data merupakan
bagian integral dari kegiatan analisis data. Kegiatan pengumpulan data
pada penelitian ini dengan menggunakan studi dokumentasi.
Pengumpulan data dalam penelitian ini yaitu dengan men- download
laporan tahunan bank syariah pada masing-masing official wesbsite-nya.
2. Reduksi Data. Reduksi data, diartikan sebagai proses pemilihan,
pemusatan perhatian pada penyederhanaan dan transformasi data kasar
yang muncul dari catatan tertulis di lapangan. Reduksi dilakukan sejak
pengumpulan data dimulai dengan membuat ringkasan, mengkode,
menelusur tema, membuat gugus-gugus, menulis memo dan
sebagainnya dengan maksud menyisihkan data/informasi yang tidak
relevan. Reduksi data dalam penelitian ini dilakukan dengan
merangkum data-data yang digunakan untuk penelitian dari laporan
tahunan masing-masing bank syariah. Dalam penelitian ini reduksi data
dilakukan dengan mengumpulkan informasi yang terdapat dalam
laporan tahunan yang berkaitan dengan pelaporan kinerja sosial sesuai
dengan indeks ISR. Untuk mengetahui seberapa besar tingkat
pengungkapan Indeks ISR pada setiap tema ISR atau secara kumulatif
digunakan rumus sebagai berikut:
𝐉𝐮𝐦𝐥𝐚𝐡 𝐏𝐨𝐢𝐧 𝐲𝐚𝐧𝐠 𝐃𝐢𝐮𝐧𝐠𝐤𝐚𝐩𝐤𝐚𝐧

Indeks ISR : 𝐉𝐮𝐦𝐥𝐚𝐡 𝐒𝐤𝐨𝐫 𝐌𝐚𝐤𝐬𝐢𝐦𝐚𝐥
3. Display data
Display data adalah pendeskripsian sekumpulan informasi tersusun yang
memberikan kemungkinan adanya penarikan kesimpulan dan
pengambilan tindakan. Penyajian data kualitatif disajikan dalam bentuk
teks naratif. Penyajiannya juga dapat berbentuk matrik, diagram, tabel
dan bagan. Display data dalam penelitian ini merupakan penyajian dari
hasil penelitian dan pembahasan mengenai temuan-temuan selama
penelitian. Display data dalam penelitian ini dilakukan dalam bentuk
tabel dengan membaginya berdasarkan tema yang ada.
4. Verifikasi dan Penarikan Kesimpulan
Merupakan kegiatan akhir dari analisis data dalam penelitian kualitatif.
Penarikan kesimpulan berupa kegiatan interprestasi, yaitu menemukan
makna data yang telah disajikan. Data yang disajikan dalam penelitian
ini berupa bentuk tabel sehingga penegasan kesimpulan dalam berupa
pemaknaan dari data yang disajikan dalam bentuk tabel tersebut. Dalam
pengertian ini analisis data kualitatif merupakan upaya berlanjut,
berulang dan terus-menerus.
Masalah reduksi data, penyajian data dan penarikan
kesimpulan/verifikasi menjadi gambaran keberhasilan secara berurutan
sebagai rangkaian kegiatan analisis terkait.Selanjutnya data yang telah
dianalisis, dijelaskan dan dimaknai dalam bentuk kata-kata untuk
mendeskripsikan fakta yang ada di lapangan, pemaknaan atau untuk
menjawab pertanyaaan penelitian yang kemudian diambil intisarinya saja.
Berdasarkan keterangan di atas, maka setiap tahap dalam proses tersebut
dilakukan untuk mendapatkan keabsahan data dengan seluruh data yang ada
dari berbagai sumber yang telah didapat dari lapangan dan dokumen resmi
dan sebagian lainnya melalui metode tabulasi data dan kemudian didukung
dengan studi dokumentasi mengenai informasi terkait yang dibutuhkan
dalam penelitian ini.
4. PEMBAHASAN
4.1 PENGUNGKAPAN KINERJA SOSIAL BUS MENGGUNAKAN INDEKS ISR
Pada pembahasan ini, akan dilakukan analisis terhadap 6 tema yang ada pada
Indeks ISR yang terdiri dari 50 sub tema dari tahun 2015-2017 pada 12 Bank
Umum Syariah di Indonesia. Tingkat pengungkapan pelaporan sosial
ditentukan oleh seberapa banyak Bank Umum Syariah memenuhi setiap sub
tema yang ada pada Indeks ISR. Semakin banyak yang terpenuhi maka
tingkat pelaporan bank syariah semakin baik.
1. Tema Pendanaan dan Investasi (Finance and Investment Them)
Pada tema pendanaan dan investasi, terdapat enam sub tema yang menjadi
indikator penilaian pelaporan sosial yakni identifikasi aktivitas yang
mengandung riba; identifikasi aktivitas yang mengandung gharar; sumber
dan jumlah zakat serta mtode dalam pengumpulan zakat; kebijakan dalam
mengatasi keterlambatan pembayaran oleh Insolvent clients; current Value
balance sheet; dan value added statement. Berikut adalah grafik persentase
tingkat pengungkapan Indeks ISR pada Bank Umum Syariah. Berikut adalah
grafik persentase tingkat pengungkapan Indeks ISR pada Bank Umum
Syariah.
Grafik 1. Nilai Indeks ISR Tema Pendanaan dan Investasi Pada BUS Tahun
2015-2017
60%
50%
40%
30% 2015
2016
20%
2017
10%
0%
Hasil pengungkapan Indeks ISR pada semua Bank Umum Syariah

untuk tema pendanaan dan Investasi pada tahun 2015-2017 rata rata BUS
mengungkapakan tiga sub tema dari enam sub tema yakni aktivitas yang
mengandung riba, zakat; meliputi jumlah, sumber dan penerima, dan
kebijakan dalam mengatasi keterlambatan pembayaran oleh Insolvent clients.
Namun Bank Jabar Banten Syariah, Bank Mega Syariah, dan Bank BTPN
Syariah tidak mengungkapkan aktivitas riba secara rinci pada annual report
pada tahun 2015, sehingga nilai pengungkapan ke tiga Bank tersebut pada
tahun 2015 adalah dua sub tema dari enam sub tema yang ada . Adapun sub
tema neraca dengan mnggunakan nilai saat ini (current value balance sheet)
dan laporan nilai tambah (value added statement) tidak diungkapkan tidak
diungkapkan karena belum diterapkan di Indonesia. Semua BUS memiliki
nilai pengungkapan 50% kecuali Bank Jabar Banten Syariah, Bank Mega
Syariah, dan BTPN Syariah mempunyai nilai pengungkapan 44%.
Dengan demikian, BMI, BVS, BRIS, BNIS, BSM, BPDS, BSB,
BCAS, dan Maybank Syariah Indonesia memperoleh rata rata nilai
pengungkapan sebesar 50%, sehingga mendapatkan predikat kurang baik.
Sedangkan BJBS, BMS, dan BTPNS memperoleh rata rata nilai

pengungkapan 44%, sehingga mendapatkan predikat tidak baik. Critical
point yang perlu diperhatikan perbankan syariah pada tema ini adalah bahwa
aktivitas yang mengandung gharar sama sekali tidak diungkapkan padahal
dalam aktivitas entitas syariah , tidak hanya riba yang penting untuk
diperhatkan namun juga praktik gharar.
2. Produk dan Jasa (Product and Services)
Pada tema Produk dan Jasa, ada empat sub tema yang menjadi indikator
penilaian dalam Indeks ISR yakni : Status halal atau syariah dalam produk,
Pengembangan produk, Peningkatan Pelayanan, dan keluhan pelanggan.
Berikut adalah grafik persentase tingkat pengungkapan ISR dari tahun 2015-
207 pada BUS.
Grafik 2. Nilai Indeks ISR Tema Produk dan Jasa pada BUS Tahun 2015-
2017
120%
100%
80%
60% 2015
40% 2016
2017
20%
0%
Secara umum, secara konsisten BMI, BNIS, BSM, NMS BPDS, BSB,
dan BCAS mengungkapkan semua sub tema yang ada pada tema produk dan
jasa. Contohnya pada sub tema status halal atau syariah dalam produk
diungkapkan oleh semua bank syariah melalui opini Dewan Pengawas
Syariah. Pada sub tema pengembangan produk, BMI melakukan
pengembangan dari berbagai jenis produk seperti pada pembiayaan
Channeling berupa program KPR dengan pilihan skema yang fleksibel sesuai
dengan kebutuhan nasabah, efisisensi proses pembiayaan dan pengembangan
sistem teknologi pembiayaan. BMS pada tahun 2017 mengadakan peluncuran
program dan produk yang mencakup diskon pada merchant CT Corp dan
Pembiayaan Tanpa Agunan (PTA), pengembangan konsep electronic channel
yang meliputi ATM, Mobile Banking, dan Virtual Account, dll.
Critical Point yang perlu diperhatikan perbankan syariah pada tema
ini adalah beberapa bank syariah tidak mengungkapkan secara detail tentang
segala hal yang berkaitan dengan keluhan nasabah sehingga tidak
mendapatkan nilai maksimal, padahal ini adalah hal yang penting dalam
rangka untuk mendeteksi kepuasan nasabah secara akurat dan rinci, supaya
dijadikan sebagai evaluasi bagi bank kedepannya sehingga bisa mengambil
kebijakan yang tepat dalam rangka perbaikan di masa yang akan datang.
3. Tema Karyawan (Employees)
Pada tema Karyawan ada enam sub tema yang menjadi indikator penilaian
dalam Indeks ISR yakni : Karakteristik pekerjaan, pendidikan dan pelatihan,
kesempatan yang sama, kesehatan dan keselamatan kerja, lingkungan kerja,
dan perekrutan khusus.
Grafik 3. Persentase Tingkat Pengungkapan ISR tema Karyawan dari tahun
2015-2017 pada BUS
120%
100%
80%
60% 2015
2016
40%
2017
20%
0%
Berdasarkan hasil skoring, BMI, BNIS, dan BSM mengungkapkan

semua sub tema yang ada pada tema karyawan sedangkan BUS yang lain
masih mengungkapkan sebagian sub tema. Pada tema ini, jika dihitung secara
rata rata, sub tema yang paling mendapatkan perhatian sedikit ialah sub tema
perekrutan khusus. Perbankan syariah sebaiknya memperhatikan sub tema ini
dengan serius demi peningkatan kualitas SDM. Karena mekanisme
perekrutan khusus adalah salah satu cara perbankan memperbaiki kualitas
SDM dengan cara intens dan berkualitas.
4. Tema Masyarakat (Community Involvment)
Pada tema masyarakat ada dua belas sub tema yang menjadi indikator
penilaian dalam Indeks ISR yakni : Penyaluran zakat, donasi, qardul hasan,
zakat atau sumbangan dari karyawan atau nasabah, pendidikan, bantuan
kesehatan, pemberdayaan ekonomi, kepedulian terhadap anak yatim,
pembangunan dan renovasi masjid, kegiatan kepemudaan, kegiatan social
lainnya, dan sponsor acara kesehatan.
Grafik 4. Persentase Tingkat Pengungkapan ISR tema Karyawan dari tahun

2015-2017 pada BUS
120%
100%
80%
60% 2015
2016
40%
2017
20%
0%
Dari dua belas sub tema yang ada, nyaris semua bank syariah tidak
mengungkapkan secara sempurna pada tiap tahun, kecuali BSM pada tahun
2016. Hal ini disebabkan ada banyak kegiatan sosial yang dilakukan oleh
bank syariah hanya masuk dalam beberapa sub tema saja. Ada beberapa bank
seperti BTPNS dan Maybank Syariah dan BCA Syariah tidak memiliki
program renovasi masjid.
Ada banyak kegiatan sosial yang dialkukan oleh Bank Syariah tidak
masuk dalam sub tema di atas, sehingga dimasukkan dalam sub tema
kegiatan sosial lainnya. Namun ini hanya bernilai satu saja, karena indeks
ISR tidak melihat jumlah kegiatan, tapi hanya melihat ada atau tidak adanya.
5. Tema Lingkungan Hidup (Environment)
Pada tema lingkungan hidup, ada tujuh sub tema yaitu : kampanye go green,
konservasi lingkungan, perlindungan terhadap flora dan fauna yang liar,
polusi, perbaikan dan pembuatan sarana umum, audit lingkungan, dan
kebijakan manajemen lingkungan
Grafik 5. Persentase Tingkat Pengungkapan ISR tema Lingkungan Hidup
dari tahun 2015-2017 pada BUS
45%
40%
35%
30%
25% 2015
20%
2016
15%
10% 2017
5%
0%
Khusus untuk tema masyarakat, perbankan syariah perlu

memperhatikan dan berusaha melaksanakan semua sub tema dengan baik
sesuai dengan kapasitas perbankan. Dari semua tema yang ada, tema inilah
yang paling sedikit diungkapkan bahkan ada sub tema yang tidak
diungkapkan sama sekali oleh semua bank yakni perlindungan terhadap flora
dan fauna liar. Tema tema yang lain seperti audit ingkungan, kebijakan
manajemen lingkungan, kampanye go green, polusi, dan konservasi
lingkungan hanya sedikit saja yang mengungkapkan. Padahal dalam hal
tanggung jawab sosial, isu enviromental protection adalah salah satu poin
krusial. Perusahaan seharusnya menerapkan green economic dengan baik.
6. Tema Tata Kelola Perusahaan (Corporate Governance)
Pada tema Tata Kelola Perusahaan, ada 15 sub tema yaitu profil dan strategi
organisasi, struktur organisasi, pelaksanaan tugas dan tanggungjawab dewan
komisaris, pelaksanaan dan tanggung jawab dewan direksi, kelengkapan dan
pelaksanaan tugas komite, pelaksanaan dan tanggungjawab dewan pengawas
syariah, pelaksanaan prinsip syariah dalam, perhimpunan dan penyaluran
dana serta pelayanan jasa, penanganan benturan kepentingan, penerapan
fungsi kepatuhan bank, penerapan fungsi audit intern, penerapan fungsi audit
ekstrernal, batas maksimum penyaluran dana, transparansi kondisi keuangan
dan non keuangan, kebijakan anti cuci uang dan praktik menyimpang
lainnya, dan etika perusahaan.
Grafik 6. Persentase Tingkat Pengungkapan ISR tema Tata Kelola
Perusahaan dari tahun 2015-2017 pada BUS
100%
98%
96%
94%
92%
90% 2016
88% 2015
86%
2017
84%
82%
80%
Secara keseluruhan, pada tema tata kelola perusahaan bank syariah

mengungkapkan dengan baik, meskipun ada beberapa bank yang tidak
mengungkapkan satu sd dua sub tema. Contohnya penilaian indeks ISR pada
BCA Syariah, tahun 2015 dan 2017 bank mengungkapkan semua sub tema
pada tema tata kelola perusahaan, namun pada tahun 2016 ada satu sub tema
yang tidak diungkapkan yakni batas maksimum penyaluran dana, sehingga
tahun 2016 bank mendapatkan persentase nilai 93%. Berdasarkan penilaian
indeks ISR pada Maybank Syariah Indonesia, pada tahun 205-2017 bank
mengungkapkan empat belas sub tema dari lima belas sub tema yang ada,
sehingga Maybank Syariah Indonesia tiap tahunnya mendapatkan perentase
nilai 93%. Indeks ISR yang konsisten tidak diungkapkan adalah etika
perusahaan. Berdasarkan penilaian indeks ISR pada BTPN Syariah, pada
tahun 2015 Bank mengungkapkan empat belas dari lima belas sub tema, yang
tidak diungkapkan adalah kebijakan anti pencucian uang, sehingga
mendapatkan persentase nilai 93%. Sedangkan pada tahun 2016, Bank tidak
mengungkapkan dua sub tema yakni penerapan fungsi kepatuhan bank dan
kebijakan anti pencucian uang, sehingga mendapatkan persentase nilai 87%.
Pada tahun 2017 Bank mengungkapkan semua sub tema tata kelola
perusahaan.
4.2 PENGUNGKPAN KINERJA SOSIAL BUS SECARA KUMULATIF BERDASARKAN

INDEKS ISR
Sub bab ini mencoba menjelaskan tingkat pengungkapan kinerja sosial BUS
secara kumulatif, supaya bisa tergambar jelas predikat BUS secara
keseluruhan bedasarkan Indeks ISR. Tentunya predikat ditentukan
berdasarkan rata rata nilai keseluruhan yang diperoleh oleh masing masing
BUS.
Berikut adalah poin dan persentase indeks ISR kumulatif dari tahun
2015-2017 pada dua belas Bank Umum Syariah di Indonesia.
Tabel 7. Tingkat Kinerja Sosial BUS Kumulatif Berdasarkan Indeks ISR
Tahun 2015-2017
2015 2016 2017 Rata Rata/Bank
No. BUS
Nilai % Nilai % Nilai % Nilai %
1 BMI 41 82% 43 86% 40 80% 42 84%
2 BVS 25 50% 25 50% 30 60% 27 54%
3 BRIS 34 68% 40 80% 42 84% 39 78%
4 BJBS 31 62% 32 64% 32 64% 32 64%
5 BNIS 40 80% 40 80% 40 80% 41 81%
6 BSM 43 86% 42 84% 41 82% 43 85%
7 BMS 33 66% 35 70% 38 76% 36 72%
8 BPDS 35 70% 33 66% 33 66% 34 68%
9 BSB 37 74% 38 76% 38 76% 38 76%
10 BCAS 32 64% 33 66% 34 68% 33 67%
11 MSI 28 56% 28 56% 31 62% 29 59%
12 BTPNS 30 60% 29 58% 32 64% 31 61%
Ratarata/Tahun 34 68% 35 70% 36 72% 35 71%
Berdasarkan tabel diatas dapat dilihat bahwa Bank yang memiliki

tingkat pengungkapan paling tinggi jika dilihat dari rata rata selama tiga
tahun ialah BSM dengan nilai 85%, disusul oleh BMI dengan nilai 84% ,
BNIS dengan nilai 81%, BRIS dengan nilai 78%, BSB dengan nilai 76%,
BMS dengan nilai 72%, BPDS dengan nilai 68%, BCAS dengan nilai 67%,
BJBS dengan nilai 64%, BTPNS dengan nilai 61%, MSI dengan nilai 59%,
dan BVS dengan nilai 54%. Jika dilihat dari rata rata per tahun untuk semua
bank, terus mengalami kenaikan yakni 34 poin tahun 2015, 35 poin tahun
2016, tahun 36 poin di tahun 2017. Artinya bahwa dari Bank Syariah di
Indonesia terus berupaya membenahi kinerja sosialnya supaya lebih baik lagi
dari tahun ke tahun.
Tabel 8. Perbandingan Predikat Tingkat Pengungkapan Kinerja Sosial BUS

Tahun 2015-2017 Berdasarkan Indeks ISR
Predikat
BUS
2015 2016 2017
BMI Sangat Baik Sangat Baik Baik
BVS Tidak Baik Kurang Baik Kurang Baik
BRIS Baik Baik Sangat Baik
BJBS Kurang Baik Kurang Baik Kurang Baik
BNIS Baik Baik Baik
BSM Sangat Baik Sangat Baik Sangat Baik
BMS Baik Baik Baik
BPDS Baik Baik Baik
BSB Baik Baik Baik
BCAS Kurang Baik Baik Baik
MSI Kurang Baik Kurang Baik Kurang Baik
BTPNS Kurang Baik Kurang Baik Kurang Baik
Dari perbandingan predikat tingkat pengungkapan di atas,dapat
diketahui bahwa predikat pengungkapan BUS yang paling baik secara
berurutan adalah adalah BSM, BMI, BRIS, BNIS, BMS, BPDS, BSB, BCAS,
BJBS, MSI, BTPNS, dan BVS.
Penelitian yang dilakukan oleh Gustani (2013) dengan judul Analisis
Tingkat Pengungkapan Kinerja Sosial Bank Syariah berdasarkan Islamic
Social Reporting Index (ISR Indeks) secara keseluruhan menunjukkan bahwa
pengungkapan kinerja sosial Bank Umum Syariah di Indonesia masih Kurang
Informatif atau Kurang Baik. Hal ini berbeda dengan hasil penelitian penulis.
Hal ini disebakan karena Gustani hanya mengambil sample dari 5 bank yakni
BMI, BSM, BMSI, BRIS, dan BSB. Berbeda dengan penuilis yang
menggunakan sample 12 bank. Semakin banyak sample tentunya akan
semakin merepresentasikan keadaan yang sebenarnya. Disamping itu, ada
perbedaan tahun penelitian pada annual report. Gustani menggunakan tahun
2009-2011, sedangkan penulis menggunakan tahun 2015-2017.
Disisi lain, penelitian yang dilakukan Wulandari (2016) dengan judul
Pengukuran Kinerja Sosial Perbankan Syariah di Indonesia Melalui Islamic
Social Reporting Index (ISR Indeks) menunjukkan bahwa pengungkapan
kinerja sosial Bank Umum Syariah di Indonesia mengalami peningkatan dari
tahun ke tahun. Penelitian ini dilakukan dalam rentang waktu 2014-2016.
5.SIMPULAN
Berbeda dengan Bank Umum Konvensional, Bank Umum Syariah dalam

pelaporan sosialnya harus memperhatikan nilai nilai yang ada pada aturan
Islam. Oleh karena itu, untuk mengukur tingkat pelaporan sosial Bank Umum
Syariah peneliti menggunakan Indeks ISR (Islamic Social Reporting), yakni

indek yang khusus mengukur kinerja sosial perusahaan perusahaan yang
berbasis syariah.
Berdasarkan analisa yang dilakukan peneliti, penilaian indeks ISR
pada Bank Umum Syariah dari tahun 2015-2017 menunjukkan bahwa tingkat
pengungkapan kinerja sosial 12 Bank Umum Syariah di Indonesia
mendapatkan predikat Baik seacara rata rata, dan terus mengalami
peningkatan dari tahun ke tahun. Hal ini menunjukkan bahwa manajemen
Bank Umum Syariah di Indonesia terus berupaya mengoptimalkan sumber
daya yang dimiliki untuk terus memperhatikan kegiatan kegiatan sosial.
Penulis menyadari penelitian ini masih banyak kekurangan dan
keterbatasan. Adapun keterbatasan dalam penelitian ini antara lain: Pertama,
Jumlah periode pengamatan yang digunakan oleh peneliti masih terlalu
singkat, sehingga masih kurang bisa menggambarkan kinerja pelaporan sosial
Bank Umum Syariah di Indonesia secara utuh. Kedua, Sub tema pada indeks
ISR dalam penelitian ini ada yang tidak relevan karena tidak diterapkan di
Indonesia yakni Current Value Balance Sheet dan Value Added Statemennt.
Sehingga ha ini berpengaruh pada nilai tingkat pengungkapan kinerja sosial
BUS di Indonesia. Ketiga, Pengungkapan kinerja sosial menggunakan indeks
ISR tidak memperhatikan jumlah pengungkapan, yang penting minimal ada
satu pengungkapan maka bank dianggap sudah melakukan pengungkapan
kinerja sosial.
Bagi peneliti selanjutnya yang berminat untuk mengkaji tingkat
pengungkapan kinerja sosial bank syariah dengan indeks ISR hendaknya
terus mengembangkan indeks ISR sehingga benar-benar relevan untuk
diaplikasikan pada Bank Syariah di Indonesia. Selain itu, peneliti selanjutnya
bisa meneliti pengaruh dari pengungkapan sosial menggunakan indeks ISR
dengan variabel lain, seperti tingkat profitabilitas, ROA, dll. Untuk Bank
Syariah, hendaknya terus meningkatkan kinerja sosialnya secara keseluruhan
guna meningkatkan kepercayaan stakeholders.
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Asian Journal of Islamic Management (AJIM)

2022, 4(1), 25-42

Covid-19 impact on technology usage: An empirical

Universiti Kebangsaan Malaysia, Selangor, Malaysia

Article Info Abstract

caused many countries to implement lockdown policies (Kaur et al., 2020).

Theory Acceptance Model (TAM)

digital zakat management in Islamic banking.

Organizational Perspective: Technology Usage

Figure 1: Theoretical Framework Propose and Hypotheses Relationship

Technological Perspective: IT infrastructure describes all IT infrastructure owned and used

complete telecommunications infrastructure and database measure an organization’s ability to

Organizational Perspective: In this case, organizational readiness relates to how an

Environmental perspective: In this case, external pressure relates to an organization dealing

Table 1: TOE Framework

Construct Item Measure References

Table 2. Respondents According to Position

Table 3. Respondents According to Sex, Ages, and Level of Education

Table 4. Respondents According to Province

Social Media Website

Figure 2. Technology Platform that Encourages Muzakki to Pay ZIS

Assessment of Measurement Model

Individual Item Reliability and Validity

Figure 3. The Assessment Measurement

Table 5. Internal Consistency Reliability and Convergent Validity

Table 6. Fornell-Larcker Criterion

Table 7. Cross Loadings

Variance Inflation Factor (VIF)

Table 8. VIF Values

Table 9. Path Coefficient and Hypotheses Testing

Results and Discussion

Social Sciences Reviews, 8(3), 599–609. https://doi.org/10.18510/hssr.2020.8364

MAQASID-SHARIAH AND WELL-BEING: A SYSTEMATIC

Darihan Mubarak*, Norfaizah Othman**, Mariani Abd-Majid* Suhaila Nadzri**

2.2. Formulation of Research Question

2.3. Systematic Searching Strategy

Figure 1: Publication by years

Table 1: Publication by Journals

Sustainability 2 3.03% 0.61 (Q1) 3.25 (Q2)

Document Sample 3,4,6,18,19,22,23,24,26,30, 23

3.3. THE CONCEPT OF WELL-BEING IN SHARIAH PERSPECTIVE

Mutidimensional Development/Sustainable and

3.3.1 Hayatan Tayyibah - Sa’adah

3.3.4. Multideminsional Development

aspects. This improvement is the multidimensional process through advancement,

3.3.5. Poverty Alleviation

3.3.6. Fulfillment of Dharuriyah (Necessities)

3.4. DIMENSIONS AND ELEMENTS IN MAQASID SHARIAH

Dimensions in Maqasid Sharia Papers No. of Papers

Table 5b: Safeguarding of Life/Self (Qualitative)

Dimensions in Maqasid Sharia Papers No. of Papers

Dimensions in Maqasid Sharia Papers No of Papers

Table 6b: Safeguarding of Intellect (Qualitative)

Dimensions in Maqasid Sharia Papers No of Papers

Elements of safeguarding of intellect that become a measure of welfare achievement include

Dimensions in Maqasid Sharia Papers No of Papers

Table 7b: Safeguarding of Posterity (Qualitative)

Dimensions in Maqasid Sharia Papers No. of Papers