REALIZING SUSTAINABLE SHARIA BANKING GOVERNANCE: AN ANALYSIS OF THE IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE AND SHARIAH GOVERNANCE IN INDONESIAN SHARIA BANKS
Keywords:
Good Corporate Governance, Sharia Governance, Bank Syariah Indonesia, Tata Kelola Perusahaan
Abstract
Good Islamic banking governance is the main foundation for maintaining stability and trust in the Islamic financial industry. Bank Syariah Indonesia (BSI), as the largest Islamic bank in Indonesia, has a strategic role in effectively implementing the principles of Good Corporate Governance (GCG) and Sharia Governance. This study aims to analyze the implementation of GCG and Sharia Governance at BSI based on the latest data from 2024. The method used is qualitative descriptive analysis with a literature review approach and secondary data from BSI's GCG implementation reports. The results of the study indicate that although BSI has received various recognitions related to good corporate governance practices, challenges in the aspects of Sharia Supervisory Board independence, financial transparency, and compliance with Sharia principles remain key concerns. Therefore, strengthening internal oversight systems, enhancing information transparency, and improving Sharia compliance are necessary to maintain stakeholder trust and promote sustainable growth in Sharia banking.
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References
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Board, Sharia, and Islamic Bank. “APPLIED ISLAMIC BANKING,” no. March (2010): 1–4.
Choudhury, Masudul Alam, and Mohammad Ziaul Hoque. “Corporate Governance in Islamic Perspective” 6, no. 2 (2006): 116–28. https://doi.org/10.1108/14720700610655132.
Creswell, John W, and J David Creswell. Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Edited by 5. Thousand Oaks, CA: Sage Publications, 2018.
Ekonomi, Fakultas, Tim Redaksi Iqtishodia, Bank Sentral Pres, and Bank Indonesia. “KEUANGAN GLOBAL Dalam Perspektif Ekonomi Islam,” no. April (2013).
Farikhatus Sa’bandiyah, Umu, Ahmad Munir Hamid, and Intan Ayu. “Peran Maqashid Syariah Dalam Mendukung Keberlanjutan Lingkungan Melalui Implementasi Green Economy: Studi Kasus Tenun Ikat Di Parengan.” Sibatik Journal | Volume 4, no. 6 (2025): 709–22. https://publish.ojs-indonesia.com/index.php/SIBATIK.
Hasan, Zulkifli. “Shariah Governance in the Islamic Financial Institutions in Malaysia.” Global Conference on Business and Finance 3, no. 5 (2007).
Hendrianto, Hendrianto, Juhaya S. Praja, and Nurrahman. “Sharia Philosophy Correlation and the Islamic Economic Philosophy.” Economit Journal: Scientific Journal of Accountancy, Management and Finance 1, no. 1 (2021): 12–20. https://doi.org/10.33258/economit.v1i1.370.
Inclusive, Developing, Sustainable Economic, Financial Systems, and Editorial Board. Ethics , Governance and Regulation in Islamic Finance, n.d.
Iqbal, Zafar, and Mervyn K. Lewis. An Islamic Perspective on Governance. An Islamic Perspective on Governance, 2009. https://doi.org/10.4337/9781848449220.
Kammer, Alfred, Mohamed Norat, Marco Pinon, Ananthakrishnan Prasad, Christopher Towe, and Zeine Zeidane. “Islamic Finance: Opportunities, Challenges, and Policy Options.” Staff Discussion Notes 15, no. 5 (2015): 1. https://doi.org/10.5089/9781498325035.006.
Kunhibava, Sherin. “Shariah Governance of Islamic Banking Institutions.” Jurnal Ekonomi 14, no. 2 (2011): 53–57.
Lewis, Mervyn, and Latifa Algaoud. “Islamic Financial Systems.” In Islamic Banking, 2013. https://doi.org/10.4337/9781843762959.00012.
Malekian, Esfandiar. “Islamic Values Forward into Better Corporate Governance Systems,” n.d., 1–15.
Miles, Matthew B, A Michael Huberman, and Johnny Saldaña. Qualitative Data Analysis: A Methods Sourcebook. 4th ed. Los Angeles: SAGE, 2020.
———. Qualitative Data Analysis: A Methods Sourcebook. Edited by 4. Los Angeles: SAGE, 2020.
Nanda Pratiwi, Danisa, Arin Setiyowati, and Fatkur Huda. “Quality of Corporate Social Responsibility (CSR) Services at Bank Syariah Indonesia (BSI) in 2021 in the Perspective of Islamic Social Reporting (ISR) Index and Maqashid Syariah Index (MSI).” Perisai : Islamic Banking and Finance Journal 7, no. 2 (2023): 198–217. https://doi.org/10.21070/perisai.v7i2.1643.
Nurhisam, Luqman. “Kepatuhan Syariah (Sharia Compliance) Dalam Industri Keuangan Syariah.” Jurnal Hukum IUS QUIA IUSTUM 23, no. 1 (2016): 77–96. https://doi.org/http://dx.doi.org/10.20885/iustum.vol23.iss1.art5.
Otoritas Jasa Keuangan (OJK). “Indonesian Islamic Financial Development Report 2023,” 2023.
Raudlatul Izzah, I Gusti Ayu Purnamawati, and Gede Adi Yuniarta. “Determinan Kinerja Maqashid Syariah Dengan Corporate Governance Sebagai Variabel Moderasi Pada Bank Umum Syariah Di Indonesia.” JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha 14, no. 01 (2023): 207–21. https://doi.org/10.23887/jimat.v14i01.49021.
Safieddine, Assem. “Islamic Financial Institutions and Corporate Governance: New Insights for Agency Theory.” Corporate Governance 17, no. 2 (2009): 142–58. https://doi.org/10.1111/j.1467-8683.2009.00729.x.
Shaharuddin, a. “Shariah Governance of Malaysian Islamic Banking Institutions.” Jurnal, Ekonomi 14, no. 2 (2011): 53–57.
Sodiq, Ahmad, Nusantara Umat, and Mandiri Kalidawir. “Implementasi Islamic Corporate Governance ( ICG ): Studi Kasus Pada BMT NUsantara UMAT MANDIRI Kalidawir Tulungagung Implementation of Islamic Corporate Governance : A Case Study in BMT NUsantara UMAT MANDIRI Kalidawir Tulungangung” 1, no. November (2017).
Sonu, Sri Sunarni, Lintje Kalangi, and Jessy Warongan. “Analisis Pelaksanaan Good Corporate Governance (Studi Kasus Pada Perusahaan Daerah Air Minum Duasudara Kota Bitung).” Jurnal Riset Akuntansi Dan Auditing “Goodwill” 10, no. 2 (2019): 149. https://doi.org/10.35800/jjs.v10i2.25624.
Soraya, Rezki Astuti. “Good Corporate Governance Dalam Perspektif Islam Dan Penerapannya Pada Bisnis Syariah Di Indonesia.” Wahana Islamika: Jurnal Studi Keislaman 4, no. 1 (2018): 127–49.
Spitzeck, H, C Boechat, and S Franca Leao. “Sustainability as a Driver for Innovation-towards a Model of Corporate Social Entrepreneurship at Odebrecht in Brazil.” Corporate Governance 13, no. 5 (2013): 613–25.
Sri, Rahayu, Fauzi Mahdi, Julkarnain, Ningsih Heny Triastuti Kurnia, and Azwansyah Habibie. “Intellectual Capital and Islamic Corporate Social Responsibility on the Financial Performance of Sharia Commercial Banks in Indonesia.” E3S Web of Conferences 339, no. 1 (2022): 115–21. https://doi.org/10.1051/e3sconf/202233905003.
Sugawara, Etsuko, and Hiroshi Nikaido. “Properties of AdeABC and AdeIJK Efflux Systems of Acinetobacter Baumannii Compared with Those of the AcrAB-TolC System of Escherichia Coli.” Antimicrobial Agents and Chemotherapy 58, no. 12 (2014): 7250–57. https://doi.org/10.1128/AAC.03728-14.
Suhendi, Chrisna (Faculty Of Economics, Sultan Agung Islam University of Semarang). “CSR Disclosure Evidence in Indonesia : Sharia and Non Sharia Bank.” South East Asia Journal of Contemporary Business Economics and Law 4, no. 2 (2014): 30–34.
Trisasmita, R. “Faktor-Faktor Yang Mempengaruhi Islamic Governance Perbankan Syariah Di Indonesia.” Al-Urban 2, no. 1 (2018): 81–91. https://doi.org/10.22236/alurban_vol2/is1pp81-91.
Zhuang, Juzhong, David Edwards, and MA. Virginita A. Capulong. Corporate Governance and Finance in East Asia: A Study of Indonesia, Republic of Korea, Malaysia, Philippines and Thailand. Asian Development Bank. Vol. I, 2001.
Published
2026-01-02
How to Cite
Muhammad, A., Khusnia, N., & Mugiyati, M. (2026). REALIZING SUSTAINABLE SHARIA BANKING GOVERNANCE: AN ANALYSIS OF THE IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE AND SHARIAH GOVERNANCE IN INDONESIAN SHARIA BANKS. ADILLA : Jurnal Ilmiah Ekonomi Syari’ah, 9(1), 150-160. https://doi.org/https://doi.org/10.52166/adilla.v9i1.9867
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Articles
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