2020
DOI: 10.13033/ijahp.v12i2.770
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Constructing a Maqasid (Objective) Based Performance Measurement Index for Islamic Banks

Abstract: The current study aims to develop a Maqasid al-Shari’ah (objective of Islamic Law) based a new performance evaluation index for Islamic banks. In order to achieve the objective, the current study conducted twelve semi-structured interviews of academics and practitioners who specialize in Islamic banking and finance (IBF) to select the variables for the index. In order to validate the selected variables, a focus group discussion was arranged that consisted of five experts in IBF. Then, in order to prioritize th… Show more

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Cited by 8 publications
(12 citation statements)
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“…For instance, Ascarya and Sukmana (2016) apply analytic network process method for their suggested index. Nofianti and Okfalisa (2019) and Tarique et al (2020, 2021) adopt an analytic hierarchy process approach to develop their respective indexes.…”
Section: Literature Reviewmentioning
confidence: 99%
“…For instance, Ascarya and Sukmana (2016) apply analytic network process method for their suggested index. Nofianti and Okfalisa (2019) and Tarique et al (2020, 2021) adopt an analytic hierarchy process approach to develop their respective indexes.…”
Section: Literature Reviewmentioning
confidence: 99%
“…Whereas financial ratios prioritize seeking worldly profits (profit oriented), the purpose of Islamic banks is to seek after-life profits (falah oriented) as well as to provide welfare to the community (maslahah). According to [1] the objectives of Islamic banks will be appropriate if they are derived from the objectives of sharia (maqashid sharia). Therefore, it would be more appropriate if the performance assessment of Islamic banks was carried out using the performance of Islamic maqashid.…”
Section: Introductionmentioning
confidence: 99%
“…The research hypothesis is (1) The number of dps members has a significant positive effect on the performance of Maqashid Sharia, (2) DPS education level has a significant positive effect on the performance of Maqashid Sharia, (3) The frequency of DPS meetings has a significant positive effect on the performance of Maqashid Sharia, (4) Profit sharing financing has a significant positive effect on the performance of Sharia Maqashid, and (5) Qardh financing has a significant positive effect on the performance of Maqashid Sharia.…”
Section: Introductionmentioning
confidence: 99%
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“…In addition, it is likely to negatively affect cyber and information security, and budget constraints, but the emergence of a new type of nancial technology under the name of Islamic nancial technology in many countries of the world is gradually growing and expanding, and it is known as all contemporary digital nancial applications that can be used In the Islamic banking and nancial services sector, and it does not intersect with the purposes of Islamic Sharia, and leads to the development of new business models, based on technology, to enhance the objectives of Sharia in the economic, environmental, nancial and social elds, and to provide better services to Islamic banking customers, in terms of product quality and speed of service delivery (Ali, Ahmad and Kamaruddin, 2020). It provides easier and less costly access to Islamic nancial services, keeping pace with the aspirations of the new generation, and achieving nancial inclusion to alleviate poverty and establish social justice (Tarique et al, 2020). It has achieved impressive results, proving that the effective use of Islamic nancial technologies coupled with innovative business models, in light of a favorable regulatory, legislative and supervisory environment that is consistent with the purposes of Islamic Sharia, and quali ed human resources, enhances con dence in Islamic nance and banking, and leads to an increased demand for its products, and the expansion of its investments, especially that nancial technology has raised the ceiling of competition between nancial institutions to provide the best and fastest services, and the pattern of change in the market has become very fast (Muhammad, Suluki and Nugraheni, 2020).…”
Section: Introductionmentioning
confidence: 99%