DIGITAL TRANSFORMATION, SHARIA GOVERNANCE, AND ORGANIZATIONAL PERFORMANCE IN ISLAMIC MICROFINANCE INSTITUTIONS

Misbahul  Khoir

doi:10.53491/papua.v3i1.2074

Penulis

Misbahul Khoir Sekolah Tinggi Agama Islam Ihyaul Ulum Gresik. Indonesia

DOI:

https://doi.org/10.53491/papua.v3i1.2074

Kata Kunci:

Digital Transformation, Waqf Institutions, Financial Sustainability

Abstrak

This study examines the relationship between digital transformation, Sharia governance, and organizational performance in Islamic Microfinance Institutions (IMFIs) within the context of achieving the objectives of maqasid al-shariah in the digital era. The research employs a qualitative approach using a literature review method based on secondary data collected from 30 scholarly articles and relevant institutional reports published between 2015 and 2025. The findings indicate that digital transformation plays a significant role in improving operational efficiency, expanding financial inclusion, enhancing customer services, and strengthening institutional competitiveness. Furthermore, effective Sharia governance ensures that technological innovation remains aligned with Islamic ethical principles, transparency, accountability, and compliance requirements. The integration of digital transformation and Sharia governance contributes positively to organizational performance by supporting financial sustainability, social impact, and stakeholder trust. The study also highlights that the implementation of digital technology within IMFIs can facilitate the achievement of maqasid al-shariah, particularly in the preservation of wealth, intellect, and social welfare. Therefore, a balanced integration of technological innovation and Islamic governance is essential for fostering sustainable development and long-term organizational success in Islamic microfinance institutions.

Unduhan

Data unduhan belum tersedia.

Referensi

Auda, J. (2008). Maqasid Al-Shariah as Philosophy of Islamic Law: A Systems Approach. London, UK: International Institute of Islamic Thought.

Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital business strategy: Toward a next generation of insights. MIS Quarterly, 37(2), 471–482. https://doi.org/10.25300/MISQ/2013/37:2.3

Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa

Creswell, J. W., & Creswell, J. D. (2018). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches (5th ed.). Thousand Oaks, CA: Sage Publications.

Dusuki, A. W., & Abdullah, N. I. (2007). Maqasid al-Shari'ah, Maslahah, and corporate social responsibility. The American Journal of Islamic Social Sciences, 24(1), 25–45.

Grassa, R. (2016). Corporate governance and credit rating in Islamic banks: Does Sharia governance matter? Journal of Management and Governance, 20(4), 875–906. https://doi.org/10.1007/s10997-015-9322-4

Miles, M. B., Huberman, A. M., & Saldaña, J. (2014). Qualitative Data Analysis: A Methods Sourcebook (3rd ed.). Thousand Oaks, CA: Sage Publications.

Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs Islamic banks. Journal of Banking & Finance, 58, 418–435. https://doi.org/10.1016/j.jbankfin.2015.04.030

Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-Wilson, E., McDonald, S., ... Moher, D. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372, n71. https://doi.org/10.1136/bmj.n71

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/10.1016/j.jbusres.2019.07.039

Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Dong, J. Q., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889–901. https://doi.org/10.1016/j.jbusres.2019.09.022

Vial, G. (2019). Understanding digital transformation: A review and a research agenda. The Journal of Strategic Information Systems, 28(2), 118–144. https://doi.org/10.1016/j.jsis.2019.01.003

Warner, K. S. R., & Wäger, M. (2019). Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal. Long Range Planning, 52(3), 326–349. https://doi.org/10.1016/j.lrp.2018.12.001

Zainuldin, M. H., Lui, T. K., & Yii, K. J. (2020). Principal-agent relationship issues in Islamic banks: A review and future research agenda. Journal of Islamic Accounting and Business Research, 11(2), 297–311. https://doi.org/10.1108/JIABR-04-2017-0053

Alam, M. M., Said, J., & Abd Aziz, M. A. (2019). Role of Islamic microfinance in poverty alleviation and financial inclusion. International Journal of Islamic and Middle Eastern Finance and Management, 12(2), 257–272.

Ahmed, H. (2011). Product Development in Islamic Banks. Edinburgh, UK: Edinburgh University Press.

Chapra, M. U. (2008). The Islamic Vision of Development in the Light of Maqasid Al-Shariah. London, UK: International Institute of Islamic Thought.

Dusuki, A. W. (2008). Understanding the objectives of Islamic banking: A survey of stakeholders’ perspectives. International Journal of Islamic and Middle Eastern Finance and Management, 1(2), 132–148.

Hanaysha, J. R. (2022). Impact of digital transformation on organizational performance in service institutions. Management Science Letters, 12(4), 291–300.

Islamic Financial Services Board (IFSB). (2024). Islamic Financial Services Industry Stability Report 2024. Kuala Lumpur, Malaysia: IFSB.

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). (2023). Sharia Standards. Manama, Bahrain: AAOIFI.

World Bank. (2022). Digital Financial Services and Financial Inclusion Report. Washington, DC: World Bank Publications.

United Nations Development Programme (UNDP). (2023). Digital Transformation and Sustainable Development Goals. New York, NY: UNDP.

Nawaz, T. (2019). Exploring the nexus between digitalization and Islamic finance. Journal of Islamic Marketing, 10(4), 1184–1201.

Sarea, A. M., & Hanefah, M. M. (2013). The need of accounting standards for Islamic financial institutions. International Management Review, 9(2), 50–59.

Yusuf, M., & Bahari, Z. (2021). Sharia governance and sustainability performance in Islamic financial institutions. Journal of Islamic Accounting and Business Research, 12(6), 901–918.

Arner, D. W., Barberis, J., & Buckley, R. P. (2016). The evolution of fintech: A new post-crisis paradigm. Georgetown Journal of International Law, 47(4), 1271–1319.

OECD. (2021). Digital Transformation and the Future of Financial Services. Paris, France: Organisation for Economic Co-operation and Development.

Rabbani, M. R., Khan, S., & Thalassinos, E. I. (2020). FinTech, blockchain and Islamic finance: An extensive literature review. International Journal of Economics and Business Administration, 8(2), 65–86.

Sutopo, B., Kot, S., Adiati, A. K., & Ardila, L. N. (2021). Sustainability reporting and Islamic governance in financial institutions. Sustainability, 13(4), 1–18.

Yusoff, M. E., & Oseni, U. A. (2019). Fintech and Islamic finance: Opportunities and challenges. Journal of Islamic Finance, 8(1), 1–15.

Amin, H. (2017). Internet banking adoption among Islamic bank customers: Empirical evidence. International Journal of Bank Marketing, 35(1), 1–17.