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Abstract
The discourse of the presence of Maqasid Index as an alternative approach to measure the performance of Islamic banking become broadly and extensively discussed among Islamic scholars. It is because the Islamic banking has different concept than the conventional bank both in theory and practice, thus the Islamic banks should have they own benchmark to measure their performance. Therefore, Maqasid Index which more directed at the aims and objectives of sharia, become proper benchmark to measure the performance of Islamic banking. This research would like to measure and to compare the performance of Islamic banking industry in Indonesia and Malaysia using Maqasid Index approach with SAW (Simple Additive the Weighting) method. The context of this research is Islamic banking industry in Indonesia and Malaysia which represented by Bank Syariah Mandiri from Indonesia and Bank Islam Malaysia Berhad from Malaysia. This research also will use secondary data from year 2013-2014. The result found that from the first and third objective (Education/ Tadlihb al-Fardh), Islamic bank in Malaysia which represented by BIMB depicted better performance which reached 38.37% while BSM depicted only 5.48%. For the second objective (Justice/ Al-Adl), BSM showed better performance which reached 17.33%. For the third objective (Welfare/ Maslahah), BIMB lead upon BSM which reached 103.25% and 78.89% accordingly. From the calculation of Maqasid Index rank, BIMB take the first place which reached 13.79%. Whilst, BSM take the second place of this Maqasid Index rank which reached 11.14%.
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- Abu Zahrah, Muhammad. (1958). Ushul Al-Fiqh. Darul Fikri al-Araby.
- Antonio, Muhammad Syafii et al.(2012). An Analysis of Islamic Banking Performance: Maqashid Index Implementation in Indonesia and Jordan. Journal of Islamic Finace, Vol. 1 No. 1, (2012) 012 - 029, IIUM Institute of Islamic Banking and Finance.
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- Bank Syariah Mandiri. (2015). Annual Report 2014-2013. Accessed on 16 Novmber 2015 < http://www.syariahmandiri.co.id/en/category/investor-relation/laporan-tahunan/>
- Fasy, ‘Allal. (1993). Maqashid Asy-Syariah Al-Islamiyyah Wa Makarimuha 5th ed.. Darul Garb Al-Islamy. Ghazali,
- Indonesian Financial Service Authority. (2013). Islamic Banking in Indonesia in Brief. Accessed 11 October 2015. < http://www.ojk.go.id/en/sharia-bank>
- Irfan, Muhammad et al. (2014). The Performance and Efficiency of Islamic Banking in South Asian Countries. Journal of Economia, Vol. 17, No. 2, (2014) 223-237.
- Jauziyah, Ibnu Qayyim. (1973). I'lamul Muwaqqi'in ‘an Rabbil Alamin. Editor: Thaha Abdur Rauf Sa'd. Beirut: Darul Jail
- Jazil, Tuba and Syahruddin. (2013). The Performance Measures of Selected Malaysian and Indonesian Islamic Banks Based on the Maqasid al-Shari'ah Approach. Journal of Islamic Civilization, Vol. 7, No. 2, (2013) 279-301, University of Darussalam Gontor
- Kasmir. (2008). Bank dan Lembaga Keuangan Lainnya. Jakarta: PT RajaGrafindo Persada.
- Kettel, Brian. (2011). Introduction to Islamic Banking and Finance. West Sussex: Jhon Wiley & Sons Ltd.
- Moullin, M. (2002), Delivering Excellence in Health and Social Care, Open University Press,Buckingham
- Mohammed, and Taib. (2008). Developing Islamic Banking Performance Measures Based on Maqasid al-Shari'ah Framework: Cases of 24 Selected Banks. Journal of Islamic Monetary Economics and Finance, Vol. 1, No. 1, (2015) 054-077, Bank Indonesia
- Mohammed, Dzuljastri and Taib. (2008). The Performance Measures of Islamic Banking Based on the Maqashid Framework. Best paper of IIUM International Accounting Conference (INTAC IV) held at Putra Jaya Marroitt.
- Neely, A.D., Adams, C. and Kennerley, M. (2002), The Performance Prism: The Scorecard for Measuring and Managing Stakeholder Relationships, Financial Times/Prentice Hall, London
- Ulum, Ihyaul. (2005) Akuntansi Sektor Publik Sebuah Pengantar (Cet.2). Malang: Universitas Muhammadiyah Malang.
- Yuwono, Sony, et al. (2004). Petunjuk Praktis Penyusunan Balance Scorecard Menuju Organisasi yang Berfokus pada Strategi. Jakarta: PT Gramedia Pustaka Utama.
- Zhu, Joe. (2003). Quantitative Models for Performance Evaluation and Benchmarking. New York: Springer Kluwer Academic Publisher.
References
Abu Zahrah, Muhammad. (1958). Ushul Al-Fiqh. Darul Fikri al-Araby.
Antonio, Muhammad Syafii et al.(2012). An Analysis of Islamic Banking Performance: Maqashid Index Implementation in Indonesia and Jordan. Journal of Islamic Finace, Vol. 1 No. 1, (2012) 012 - 029, IIUM Institute of Islamic Banking and Finance.
Bank Islam Malaysia Berhad. (2015). Annual Report 2014-2013. Accessed on 16 November 2015 < http://www.bankislam.com.my/home/corporate-info/annual-reports/>
Bank Syariah Mandiri. (2015). Annual Report 2014-2013. Accessed on 16 Novmber 2015 < http://www.syariahmandiri.co.id/en/category/investor-relation/laporan-tahunan/>
Fasy, ‘Allal. (1993). Maqashid Asy-Syariah Al-Islamiyyah Wa Makarimuha 5th ed.. Darul Garb Al-Islamy. Ghazali,
Indonesian Financial Service Authority. (2013). Islamic Banking in Indonesia in Brief. Accessed 11 October 2015. < http://www.ojk.go.id/en/sharia-bank>
Irfan, Muhammad et al. (2014). The Performance and Efficiency of Islamic Banking in South Asian Countries. Journal of Economia, Vol. 17, No. 2, (2014) 223-237.
Jauziyah, Ibnu Qayyim. (1973). I'lamul Muwaqqi'in ‘an Rabbil Alamin. Editor: Thaha Abdur Rauf Sa'd. Beirut: Darul Jail
Jazil, Tuba and Syahruddin. (2013). The Performance Measures of Selected Malaysian and Indonesian Islamic Banks Based on the Maqasid al-Shari'ah Approach. Journal of Islamic Civilization, Vol. 7, No. 2, (2013) 279-301, University of Darussalam Gontor
Kasmir. (2008). Bank dan Lembaga Keuangan Lainnya. Jakarta: PT RajaGrafindo Persada.
Kettel, Brian. (2011). Introduction to Islamic Banking and Finance. West Sussex: Jhon Wiley & Sons Ltd.
Moullin, M. (2002), Delivering Excellence in Health and Social Care, Open University Press,Buckingham
Mohammed, and Taib. (2008). Developing Islamic Banking Performance Measures Based on Maqasid al-Shari'ah Framework: Cases of 24 Selected Banks. Journal of Islamic Monetary Economics and Finance, Vol. 1, No. 1, (2015) 054-077, Bank Indonesia
Mohammed, Dzuljastri and Taib. (2008). The Performance Measures of Islamic Banking Based on the Maqashid Framework. Best paper of IIUM International Accounting Conference (INTAC IV) held at Putra Jaya Marroitt.
Neely, A.D., Adams, C. and Kennerley, M. (2002), The Performance Prism: The Scorecard for Measuring and Managing Stakeholder Relationships, Financial Times/Prentice Hall, London
Ulum, Ihyaul. (2005) Akuntansi Sektor Publik Sebuah Pengantar (Cet.2). Malang: Universitas Muhammadiyah Malang.
Yuwono, Sony, et al. (2004). Petunjuk Praktis Penyusunan Balance Scorecard Menuju Organisasi yang Berfokus pada Strategi. Jakarta: PT Gramedia Pustaka Utama.
Zhu, Joe. (2003). Quantitative Models for Performance Evaluation and Benchmarking. New York: Springer Kluwer Academic Publisher.