Article Sidebar
Main Article Content
Abstract
Introduction
Islamic Rural Banks (Bank Perekonomian Rakyat Syariah abbreviated BPRS in Bahasa Indonesia) play a vital role in promoting Islamic finance in Indonesia. Central to their operation is the Sharia Supervisory Board (Dewan Pengawas Syariah abbreviated DPS in Bahasa Indonesia), tasked with ensuring that all financial activities align with Islamic principles. Despite their importance, gaps in the implementation of Sharia compliance suggest limitations in Sharia Supervisory Board effectiveness, which may undermine the integrity of Islamic Rural Banks operations.
Objectives
This study investigates the effectiveness of the Sharia Supervisory Board in maintaining Sharia compliance within an Islamic Rural Bank in Yogyakarta, Indonesia. It aims to identify key challenges, such as regulatory clarity, institutional support, and the qualifications of the Sharia Supervisory Board members, and their impact on the Islamic Rural Bank’s governance and performance.
Method
The research employs a mixed-methods approach, combining qualitative and quantitative analyses. Data were collected through structured interviews with Sharia Supervisory Board members, Islamic Rural Bank executives, and regulatory bodies, alongside a review of regulatory documents and institutional records. The study uses thematic analysis and statistical tools to evaluate the factors influencing the Sharia Supervisory Board’s effectiveness.
Results
Findings reveal that the effectiveness of the Sharia Supervisory Board is significantly influenced by their qualifications, access to training, and institutional support. Regulatory ambiguities lead to inconsistent Sharia compliance practices across Islamic Rural Banks. Institutions with robust internal frameworks and better resource allocation exhibit higher levels of Sharia compliance and customer trust.
Implications
The study highlights the necessity for comprehensive training programs, more explicit regulatory guidelines, and more substantial institutional support to enhance the role of the Sharia Supervisory Board. These improvements are essential for maintaining the credibility of Islamic financial institutions and fostering customer confidence.
Originality/Novelty
This research contributes to the literature on Islamic finance governance by addressing systemic and practical challenges faced by the Sharia Supervisory Board in Islamic Rural Banks. It offers actionable recommendations for policymakers, regulators, and financial institutions to strengthen the governance and compliance mechanisms in Islamic banking.
Keywords
Article Details
Copyright (c) 2024 Dzuriyatun Rahmatika, Yuli Andriansyah, Andan Qubbaja
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
References
Abidin, N. H. Z., Yasin, F. M., & Abidin, A. Z. (2020). Independence from the perspective of the Shari’ah committee. Asian Journal of Accounting Research, 6(2), 196–209. https://doi.org/10.1108/AJAR-07-2020-0053
Absor, C., Hana, K. F., & Nur, F. R. (2020). Ada apa dengan Dewan Pengawas Syariah di koperasi simpan pinjam dan pembiayaan syariah? [What’s with the Sharia Supervisory Board in Islamic savings and loan and financing cooperatives?]. Malia: Journal of Islamic Banking and Finance, 3(2), 155–173. https://doi.org/10.21043/malia.v3i2.8413
Alam, M. K., & Miah, M. S. (2024). Do Islamic banks use institutional theory in the light of Shariah governance? Empirical evidence from a Muslim dominant country. Heliyon, 10(2), e24252. https://doi.org/10.1016/j.heliyon.2024.e24252
Alam, Md. K., Ab Rahman, S., Tabash, M. I., Thakur, O. A., & Hosen, S. (2021). Shariah supervisory boards of Islamic banks in Bangladesh: Expected duties and performed roles and functions. Journal of Islamic Accounting and Business Research, 12(2), 258–275. https://doi.org/10.1108/JIABR-02-2020-0035
Alam, Md. K., Mustafa, H., Uddin, Md. S., Islam, Md. J., Mohua, M. J., & Hassan, Md. F. (2020). Problems of shariah governance framework and different bodies: An empirical investigation of Islamic banks in Bangladesh. The Journal of Asian Finance, Economics and Business, 7(3), 265–276. https://doi.org/10.13106/JAFEB.2020.VOL7.NO3.265
Alam, Md. K., Rahman, M. M., Runy, M. K., Adedeji, B. S., & Hassan, Md. F. (2022). The influences of Shariah governance mechanisms on Islamic banks performance and Shariah compliance quality. Asian Journal of Accounting Research, 7(1), 2–16. https://doi.org/10.1108/AJAR-11-2020-0112
Alam, Md. K., Rahman, Md. M., Islam, F. T., Adedeji, B. S., Mannan, Md. A., & Sahabuddin, M. (2021). The practices of Shariah governance systems of Islamic banks in Bangladesh. Pacific Accounting Review, 33(4), 505–524. https://doi.org/10.1108/PAR-10-2020-0195
Alam, Md. K., Rahman, S. A., Mustafa, H., Shah, S. M., & Hossain, Md. S. (2019). Shariah governance framework of Islamic banks in Bangladesh: Practices, problems and recommendations. Asian Economic and Financial Review, 9(1), 118–132. https://doi.org/10.18488/journal.aefr.2019.91.118.132
Ali, M., Khan, S. M., Puah, C.-H., Mubarik, M. S., & Ashfaq, M. (2023). Does stakeholder pressure matter in Islamic banks’ corporate social responsibility and financial performance? International Journal of Ethics and Systems, 39(2), 236–263. https://doi.org/10.1108/IJOES-10-2021-0183
Ali, S. N. (2017). Building trust in Islamic finance products and services. Society and Business Review, 12(3), 356–372. https://doi.org/10.1108/SBR-03-2017-0017
Almutairi, A. R., & Quttainah, M. A. (2019). Corporate governance and accounting conservatism in Islamic banks. Thunderbird International Business Review, 61(5), 745–764. https://doi.org/10.1002/tie.22063
Alwi, S. F. S., Osman, I., Badri, M. B., Muhamat, A. A., Muda, R., & Ibrahim, U. (2022). Issues of letter of credit in Malaysian Islamic banks. Journal of Risk and Financial Management, 15(9), 373. https://doi.org/10.3390/jrfm15090373
Amiram, D., Bozanic, Z., Cox, J. D., Dupont, Q., Karpoff, J. M., & Sloan, R. (2018). Financial reporting fraud and other forms of misconduct: A multidisciplinary review of the literature. Review of Accounting Studies, 23(2), 732–783. https://doi.org/10.1007/s11142-017-9435-x
Amran, A., Fauzi, H., Purwanto, Y., Darus, F., Yusoff, H., Zain, M. M., Naim, D. M. A., & Nejati, M. (2017). Social responsibility disclosure in Islamic banks: A comparative study of Indonesia and Malaysia. Journal of Financial Reporting and Accounting, 15(1), 99–115. https://doi.org/10.1108/JFRA-01-2015-0016
Andespa, R., Yeni, Y. H., Fernando, Y., & Sari, D. K. (2023). A systematic review of customer Sharia compliance behaviour in Islamic banks: Determinants and behavioural intention. Journal of Islamic Marketing, 15(4), 1013–1034. https://doi.org/10.1108/JIMA-06-2023-0181
Andespa, R., Yeni, Y. H., Fernando, Y., & Sari, D. K. (2024). Sustainable development of Islamic banks by creating Islamic branding: Challenges, importance, and strategies of Islamic branding. International Journal of Sustainable Development and Planning, 19(2), 637–650. https://doi.org/10.18280/ijsdp.190221
Aslam, E., Ur-Rehman, A., & Iqbal, A. (2021). Does corporate governance matter for asset quality of Islamic banks? Buletin Ekonomi Moneter Dan Perbankan, 24(2), 221–236. https://doi.org/10.21098/bemp.v24i2.1344
Asyiqin, I. Z., & Akbar, M. F. (2024). Integrating Sharia principles with environmental sustainability: A DSN-MUI fatwa analysis in Islamic capital markets. E3S Web of Conferences, 594(2nd International Conference on Environment and Smart Society (ICEnSO 2024)), 04007. https://doi.org/10.1051/e3sconf/202459404007
Ayedh, A. M., & Echchabi, A. (2015). Shari’ah supervision in the Yemeni Islamic banks: A qualitative survey. Qualitative Research in Financial Markets, 7(2), 159–172. https://doi.org/10.1108/QRFM-06-2014-0017
Bakhouche, A., El Ghak, T., & Alshiab, M. (2022). Does Islamicity matter for the stability of Islamic banks in dual banking systems? Heliyon, 8(4), e09245. https://doi.org/10.1016/j.heliyon.2022.e09245
Baklouti, I. (2022). Is the Sharia supervisory board a friend or an enemy of Islamic banks? Journal of Islamic Marketing, 13(2), 526–541. https://doi.org/10.1108/JIMA-04-2020-0118
Budiyono, I., & Sabilla, C. K. (2021). Analysis of the influence of audit committee, sharia supervisory board, and Islamic work ethic on the quality of Sharia bank financial statements in Indonesia. AL-ARBAH: Journal of Islamic Finance and Banking, 3(1), 99–110. https://doi.org/10.21580/al-arbah.2021.3.1.8066
Calder, R. (2020). Sharīʿah-compliant or Sharīʿah-based? The changing ethical discourse of Islamic finance. https://doi.org/10.1163/15730255-BJA10008
Daoud, Y., & Kammoun, A. (2024). Banking regulation and financial soundness nexus in view of the crisis: An Islamic banking perspective. International Journal of Economics and Financial Issues, 14(2), 168–177. https://doi.org/10.32479/ijefi.15760
Darwanto, & Chariri, A. (2019). Corporate governance and financial performance in Islamic banks: The role of the Sharia supervisory board in multiple-layer management. Banks and Bank Systems, 14(4), 183–191. https://doi.org/10.21511/bbs.14(4).2019.17
Daud, D. (2019). The role of Islamic governance in the reinforcement waqf reporting: SIRC Malaysia case. Journal of Islamic Accounting and Business Research, 10(3), 392–406. https://doi.org/10.1108/JIABR-01-2017-0008
Dewi, N. D. (2020). Praktik pengawasan Dewan Pengawas Syariah pada BMT Al Fath IKMI [Supervisory practices of the Sharia Supervisory Board at BMT Al Fath IKMI]. Journal of Islamic Business Management Studies (JIBMS), 1(1), 43–51. https://doi.org/10.51875/jibms.v1i1.176
Effendi, I., Murad, M., Rafiki, A., & Lubis, M. M. (2021). The application of the theory of reasoned action on services of Islamic rural banks in Indonesia. Journal of Islamic Marketing, 12(5), 951–976. https://doi.org/10.1108/JIMA-02-2020-0051
Effendi, K. A., & Widajatun, V. W. (2024). Growth of Islamic fintech in Indonesia. Journal of Economics, Finance and Management Studies, 7(6), 3620–3631. https://doi.org/10.47191/jefms/v7-i6-53
Endri, E., Fatmawatie, N., Sugianto, S., Humairoh, H., Annas, M., & Wiwaha, A. (2022). Determinants of efficiency of Indonesian Islamic rural banks. Decision Science Letters, 11(4), 391–398. http://growingscience.com/beta/dsl/5653-determinants-of-efficiency-of-indonesian-islamic-rural-banks.html
Faizi, F. (2024). How are Islamic banking products developed? Evidence from emerging country. Cogent Economics & Finance, 12(1), 2378961. https://doi.org/10.1080/23322039.2024.2378961
Falikhatun, F., Wahyuni, S., Nilasakti, A. O., & Niswah, M. A. (2020). Sharia governance and sustainability reporting: The mediating role of financial performance. Al-Uqud : Journal of Islamic Economics, 4(2), 218–234. https://doi.org/10.26740/al-uqud.v4n2.p218-234
Farag, H., Mallin, C., & Ow-Yong, K. (2018). Corporate governance in Islamic banks: New insights for dual board structure and agency relationships. Journal of International Financial Markets, Institutions and Money, 54, 59–77. https://doi.org/10.1016/j.intfin.2017.08.002
Fithria, A. (2022). Exploring the application of Sharia contracts on Islamic fintech peer-to-peer lending in Indonesia. Al-Hikmah: International Journal of Islamic Studies and Human Sciences, 5(6), 31–56. https://doi.org/10.46722/hikmah.v5i6.327
Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory, 30(2), 125–152. https://doi.org/10.2308/ajpt-50006
Ginena, K. (2014). Sharī‘ah risk and corporate governance of Islamic banks. Corporate Governance, 14(1), 86–103. https://doi.org/10.1108/CG-03-2013-0038
Haddad, A., & Souissi, M. N. (2022). The impact of Shariah Advisory Board characteristics on the financial performance of Islamic banks. Cogent Economics & Finance, 10(1), 2062911. https://doi.org/10.1080/23322039.2022.2062911
Haridan, N. M., Hassan, A. F. S., & Karbhari, Y. (2018). Governance, religious assurance and Islamic banks: Do Shariah boards effectively serve? Journal of Management and Governance, 22(4), 1015–1043. https://doi.org/10.1007/s10997-018-9418-8
Hariyanti, A., & Annisa, A. A. (2021). Pengaruh dewan pengawas syariah, ukuran perusahaan dan investment account holder terhadap pengungkapan Islamic social reporting dengan profitabilitas sebagai variabel moderating [The influence of the sharia supervisory board, company size and investment account holders on the disclosure of Islamic social reporting with profitability as a moderating variable]. Journal of Accounting and Digital Finance, 1(3), 238–248. https://doi.org/10.53088/jadfi.v1i3.127
Herawati, H., Rawi, R., & Destiana, R. (2019). Pengaruh ROA dan ukuran Dewan Pengawas Syariah terhadap Islamic social reporting pada bank umum syariah [The effect of ROA and the size of the Sharia Supervisory Board on Islamic social reporting in Islamic commercial banks]. Jurnal Akuntansi, 14(1), 1–12. https://doi.org/10.37058/jak.v14i1.958
Hermansyah, & Febriadi, S. R. (2024). Juridical review of net revenue sharing and profit sharing implementation in Islamic bank. Amwaluna: Jurnal Ekonomi Dan Keuangan Syariah, 8(1), 151–159. https://doi.org/10.29313/amwaluna.v8i1.3446
Hidayati, N. K., Setyowati, R., & Zakiyah, N. (2021). Peran Dewan Pengawas Syariah (DPS) dan Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI) dalam pengembangan industri wisata halal Indonesia [The role of the Sharia Supervisory Board (DPS) and the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) in the development of Indonesia’s halal tourism industry]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 6(3), 709–732. https://doi.org/10.30651/jms.v6i3.7585
Islam, M. M., Islam, M. A., Hassan, M. S., & AlHalaseh, R. (2025). Effectiveness of board of directors and risk-taking: The mediating role of Shari’ah supervisory board of Bangladesh Islamic financial institutions. International Journal of Islamic and Middle Eastern Finance and Management, ahead-of-print(ahead-of-print). https://doi.org/10.1108/IMEFM-04-2024-0204
Izzatika, N. F., & Lubis, A. T. (2016). Isu dan tantangan Kompetensi Dewan Pengawas Syariah di Indonesia [Issues and challenges of Sharia Supervisory Board Competence in Indonesia]. Jurnal Akuntansi dan Keuangan Islam, 4(2), 147–167. https://doi.org/10.35836/jakis.v4i2.24
Karbhari, Y., Benamraoui, A., & Hassan, A. F. S. (2023). Sharia boards, managerial strategies and governance practices in Islamic banks: A Goffmanesque discourse. Accounting, Auditing & Accountability Journal, 37(4), 1069–1095. https://doi.org/10.1108/AAAJ-07-2017-3037
Kartika, T., Firdaus, A., & Najib, M. (2019). Contrasting the drivers of customer loyalty; financing and depositor customer, single and dual customer, in Indonesian Islamic bank. Journal of Islamic Marketing, 11(4), 933–959. https://doi.org/10.1108/JIMA-04-2017-0040
Kasdi, A. (2018). Contribution of National Sharia Council Fatwa of Indonesian Council of Ulama (DSN-MUI) in the Islamic economic development in Indonesia. Iqtishadia, 11(1), 47–64. https://doi.org/10.21043/iqtishadia.v11i1.3187
Khalil, A., & Taktak, N. B. (2020). The impact of the Shariah board’s characteristics on the financial soundness of Islamic banks. Journal of Islamic Accounting and Business Research, 11(10), 1807–1825. https://doi.org/10.1108/JIABR-08-2018-0127
Khelassi, A., Ayad A., L., Halali, A., & Lutfi, B. M. (2024). The effect of external Shariah audit on the performance of Islamic banking: Evidence from Bahrain and Oman. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-12-2023-0396
Lee, S. P., Isa, M., Ahmad, R., & Bacha, O. I. (2021). Governance and risk-taking in conventional and Islamic banks. Managerial Finance, 47(5), 703–722. https://doi.org/10.1108/MF-04-2020-0146
Lestari, Y. D. (2020). Pengaruh ukuran bank, profitabilitas, kepemilikan institusional, ukuran Dewan Pengawas Syariah dan umur perusahaan terhadap pengungkapan Islamic social reporting (ISR) [The effect of bank size, profitability, institutional ownership, Sharia Supervisory Board size and company age on disclosure of Islamic social reporting (ISR)]. Juornal of Economics and Policy Studies, 1(1), 14–22. https://doi.org/10.21274/jeps.v1i1.3762
Leuz, C., & Wysocki, P. D. (2016). The economics of disclosure and financial reporting regulation: Evidence and suggestions for future research. Journal of Accounting Research, 54(2), 525–622. https://doi.org/10.1111/1475-679X.12115
Madani, H., Kebbi, A., & Khalid Nainar, S. M. (2025). Lost in translation-why an independent institutional identity of Islamic banks failed to emerge? Business & Society, 64(2), 379–420. https://doi.org/10.1177/00076503241255887
Malkawi, B. H. (2013). Shari’ah board in the governance structure of Islamic financial institutions. The American Journal of Comparative Law, 61(3), 539–578. https://doi.org/10.1093/ajcl/61.3.539
Mamatzakis, E., Alexakis, C., Yahyaee, K. A., Pappas, V., Mobarek, A., & Mollah, S. (2023). Does corporate governance affect the performance and stability of Islamic banks? Corporate Governance: The International Journal of Business in Society, 23(4), 888–919. https://doi.org/10.1108/CG-05-2022-0217
Ma’ruf, A., & Wulandari, A. P. (2023). Exploration of Shariah non-compliant risk: Evidence from indonesia. Jurnal Al-Qardh, 8(2), 110–121. https://doi.org/10.23971/jaq.v8i2.7064
Masrizal, Sukmana, R., Fianto, B. A., & Gultom, R. Z. (2023). Does economic freedom fosters Islamic rural banks efficiency? Evidence from Indonesia. International Journal of Productivity and Performance Management, 72(9), 2538–2558. https://doi.org/10.1108/IJPPM-11-2021-0660
Meskovic, A., Kozarevic, E., & Avdukic, A. (2024). The influence of national and individual Islamic governance on Islamic banks’ social performance. Journal of Islamic Accounting and Business Research, 15(6), 911–941. https://doi.org/10.1108/JIABR-03-2022-0077
Minaryanti, A. A., & Mihajat, M. I. S. (2024). A systematic literature review on the role of sharia governance in improving financial performance in Sharia banking. Journal of Islamic Accounting and Business Research, 15(4), 553–568. https://doi.org/10.1108/JIABR-08-2022-0192
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
Mu’adzah, N. (2022). Systematic review on sharia supervisory board in islamic banking. Ekonomi Islam Indonesia, 4(2). https://doi.org/10.58968/eii.v4i2.134
Muhammad, R., Azlan Annuar, H., Taufik, M., & Nugraheni, P. (2021). The influence of the SSB’s characteristics toward Sharia compliance of Islamic banks. Cogent Business & Management, 8(1), 1929033. https://doi.org/10.1080/23311975.2021.1929033
Muhammad, R., Suluki, A., & Nugraheni, P. (2020). Internal factors and non-performing financing in Indonesian Islamic rural banks. Cogent Business & Management, 7(1), 1823583. https://doi.org/10.1080/23311975.2020.1823583
Mukhibad, H., & Setiawan, D. (2022). Shariah supervisory board attributes and corporate risk-taking in Islamic banks. Cogent Business & Management, 9(1), 2158607. https://doi.org/10.1080/23311975.2022.2158607
Neifar, S., Salhi, B., & Jarboui, A. (2020). The moderating role of Shariah supervisory board on the relationship between board effectiveness, operational risk transparency and bank performance. International Journal of Ethics and Systems, 36(3), 325–349. https://doi.org/10.1108/IJOES-09-2019-0155
Nguyen, Q. K. (2021). Oversight of bank risk-taking by audit committees and Sharia committees: Conventional vs Islamic banks. Heliyon, 7(8), e07798. https://doi.org/10.1016/j.heliyon.2021.e07798
Noordin, N. H., & Kassim, S. (2019). Does Shariah committee composition influence Shariah governance disclosure?: Evidence from Malaysian Islamic banks. Journal of Islamic Accounting and Business Research, 10(2), 158–184. https://doi.org/10.1108/JIABR-04-2016-0047
Nurlaela, N., Luthfiyana, M., Sulastri, A., & Wahyunita, E. S. (2020). Reviewing the fatwas related to fintech applications in islamic financial institutions in Indonesia. Share: Jurnal Ekonomi Dan Keuangan Islam, 9(2), 206–226. https://doi.org/10.22373/share.v9i2.7989
Prasojo, P., Yadiati, W., Fitrijanti, T., & Sueb, M. (2023). Exploring the relationship between intellectual capital and maqasid sharia-based performance: The moderating role of sharia governance. Journal of Islamic Marketing, 14(8), 2130–2146. https://doi.org/10.1108/JIMA-07-2021-0226
Putri, V. A., & Akbary, N. M. M. (2021). Islamic fintech and Indonesian MSMEs during the pandemic. Sebelas Maret Business Review, 6(2), 111–120. https://doi.org/10.20961/smbr.v6i2.56063
Rahayu, S. K., Komala, A. R., & Yusuf, S. N. B. S. (2024). Enhancing Islamic banking through accounting and taxation harmonization: A comparative study of Indonesia and Malaysia. Australasian Accounting, Business and Finance Journal, 18(5), 155–190. https://doi.org/10.14453/aabfj.v18i5.09
Rahdian, A., Mardian, S., & Razikun, M. (2023). The measurement of good corporate governance in Islamic banking and its effect on financial performance (Empirical study of Islamic commercial banks in Indonesia). Jurnal Akuntansi Dan Keuangan Islam, 11(2), 189–204. https://doi.org/10.35836/jakis.v11i2.530
Rahim, M. A., Shaharuddin, N. ’Ain S., & Suki, N. M. (2024). Shariah governance disclosure and its effect on Islamic banks’ financial performance: Evidence from Malaysia and GCC countries. Journal of Islamic Accounting and Business Research, 15(4), 619–642. https://doi.org/10.1108/JIABR-08-2021-0235
Rais, M., & Pramata, H. (2024). Regulating Sharia financial transactions: The role of the Indonesian Ulema Council (MUI) and implications for Islamic finance in Indonesia. Law and Economics, 18(1), 1–11. https://journals.ristek.or.id/index.php/LE/article/view/63
Rashid, Md. H. U., Khanam, R., & Ullah, Md. H. (2022). Corporate governance and IFSB standard-4: Evidence from Islamic banks in Bangladesh. International Journal of Islamic and Middle Eastern Finance and Management, 15(1), 1–17. https://doi.org/10.1108/IMEFM-03-2020-0124
Retnowati, M. S., & Allhumahira, I. Z. (2023). Relevance of compliance on Islamic law by the construction of MUI DSN Fatwa on murābahah financing products at BMT Khasanah Tawang, Weru. E-Journal Ekonomi Bisnis Dan Akuntansi, 10(1), 46–52. https://doi.org/10.19184/ejeba.v10i1.36885
Rosalina, H., Zakiyah, F., Rahayu, A., Zam-zamiyah, F. T., Ismail, A. M., & Izharuddin, R. (2022). Sharia supervisory board practices in conducting operational supervision in Sharia microfinance institutions. ITQAN: Journal of Islamic Economics, Management, and Finance, 1(1), 25–35. https://doi.org/10.57053/itqan.v1i1.6
Saleh, A. O. H., Alsirhani, S. M. M., & Muayyad, D. M. (2024). Shariah governance and audit in the Islamic banks: A literature review. In B. Alareeni & I. Elgedawy (Eds.), AI and business, and innovation research: Understanding the potential and risks of AI for modern enterprises (Vol. 440, pp. 823–831). Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-42085-6_71
Sauri, M. S. (2023). Peran Dewan Pengawas Syariah dalam pengawasan produk keuangan syariah [The role of the Sharia Supervisory Board in the supervision of Islamic financial products]. NOMISMA: Jurnal Ekonomi, Bisnis, Dan Manajemen, 1(1), 128–144. https://journal.polymathes.id/index.php/NOMISMA/article/view/7
Segarawasesa, F. S. (2021). Analysis of factors affecting sharia compliance levels in sharia banks in Indonesia. Asian Journal of Islamic Management (AJIM), 3(1), 56–66. https://doi.org/10.20885/ajim.vol3.iss1.art6
Sholihin, M., Zaki, A., & Maulana, A. O. (2018). Do Islamic rural banks consider Islamic morality in assessing credit applications? Journal of Islamic Accounting and Business Research, 9(4), 498–513. https://doi.org/10.1108/JIABR-01-2018-0015
Sueb, M., Prasojo, Muhfiatun, Syarifah, L., & Nur Anggara Putra, R. (2022). The effect of shariah board characteristics, risk-taking, and maqasid Shariah on an Islamic bank’s performance. Banks and Bank Systems, 17(3), 89–101. https://doi.org/10.21511/bbs.17(3).2022.08
Tabash, M. I., Alam, Md. K., & Rahman, Md. M. (2022). Ethical legitimacy of Islamic banks and Shariah governance: Evidence from Bangladesh. Journal of Public Affairs, 22(2), e2487. https://doi.org/10.1002/pa.2487
Tari, L. M., Habibah Qurrota A’iny, Ifaturochmah, Haritza Hikmatyar, & Maisarah. (2023). Role and responsibilities of the Sharia Supervisory Council (DPS) at Sharia People’s Finance Bank (BPRS) in Depok City. ITQAN: Journal of Islamic Economics, Management, and Finance, 2(2), 49–55. https://doi.org/10.57053/itqan.v2i2.19
Taufik, M. (2023). Can Shari’ah supervisory board and Islamic bank characteristics reduce tax avoidance? Evidence in Indonesia and Malaysia. Journal of Financial Crime, 30(3), 677–701. https://doi.org/10.1108/JFC-03-2022-0059
Trinugroho, I., Risfandy, T., & Ariefianto, M. D. (2018). Competition, diversification, and bank margins: Evidence from Indonesian Islamic rural banks. Borsa Istanbul Review, 18(4), 349–358. https://doi.org/10.1016/j.bir.2018.07.006
Ullah, S., Harwood, I. A., & Jamali, D. (2018). ‘Fatwa repositioning’: The hidden struggle for shari’a compliance within Islamic financial institutions. Journal of Business Ethics, 149(4), 895–917. https://doi.org/10.1007/s10551-016-3090-1
Umar, U. H., Al-Faryan, M. A. S., & Osemy, A. Z. Z. (2024). Does financial expertise influence Islamic bank risk-taking? Managerial Finance, 50(12), 2011–2030. https://doi.org/10.1108/MF-03-2024-0212
Warninda, T. D. (2014). Islamic rural bank profitability: Evidence from Indonesia. Journal of Islamic Economics Banking and Finance, 10(3), 99–122. https://doi.org/10.12816/0025955
Yusmad, M. A., Irwansyah, I., Marinsah, S. A. B., Ayyub, M., & Muang, Muh. S. K. (2024). Revitalization supervision Islamic banking in enhancement compliance in Indonesia and Malaysia. Samarah: Jurnal Hukum Keluarga Dan Hukum Islam, 8(1), 468. https://doi.org/10.22373/sjhk.v8i1.20524
Yusra, Nurnarsrina, Febriyani, N., & Huda, N. (2024). Efektivitas peran Dewan Pengawas Syariah dalam meminimalkan risiko kepatuhan di bank syariah di Indonesia [The effectiveness of the role of the Sharia Supervisory Board in minimizing compliance risk in Islamic banks in Indonesia]. Socius: Jurnal Penelitian Ilmu-Ilmu Sosial, 2(5), 135–144. https://doi.org/10.5281/zenodo.14547665
References
Abidin, N. H. Z., Yasin, F. M., & Abidin, A. Z. (2020). Independence from the perspective of the Shari’ah committee. Asian Journal of Accounting Research, 6(2), 196–209. https://doi.org/10.1108/AJAR-07-2020-0053
Absor, C., Hana, K. F., & Nur, F. R. (2020). Ada apa dengan Dewan Pengawas Syariah di koperasi simpan pinjam dan pembiayaan syariah? [What’s with the Sharia Supervisory Board in Islamic savings and loan and financing cooperatives?]. Malia: Journal of Islamic Banking and Finance, 3(2), 155–173. https://doi.org/10.21043/malia.v3i2.8413
Alam, M. K., & Miah, M. S. (2024). Do Islamic banks use institutional theory in the light of Shariah governance? Empirical evidence from a Muslim dominant country. Heliyon, 10(2), e24252. https://doi.org/10.1016/j.heliyon.2024.e24252
Alam, Md. K., Ab Rahman, S., Tabash, M. I., Thakur, O. A., & Hosen, S. (2021). Shariah supervisory boards of Islamic banks in Bangladesh: Expected duties and performed roles and functions. Journal of Islamic Accounting and Business Research, 12(2), 258–275. https://doi.org/10.1108/JIABR-02-2020-0035
Alam, Md. K., Mustafa, H., Uddin, Md. S., Islam, Md. J., Mohua, M. J., & Hassan, Md. F. (2020). Problems of shariah governance framework and different bodies: An empirical investigation of Islamic banks in Bangladesh. The Journal of Asian Finance, Economics and Business, 7(3), 265–276. https://doi.org/10.13106/JAFEB.2020.VOL7.NO3.265
Alam, Md. K., Rahman, M. M., Runy, M. K., Adedeji, B. S., & Hassan, Md. F. (2022). The influences of Shariah governance mechanisms on Islamic banks performance and Shariah compliance quality. Asian Journal of Accounting Research, 7(1), 2–16. https://doi.org/10.1108/AJAR-11-2020-0112
Alam, Md. K., Rahman, Md. M., Islam, F. T., Adedeji, B. S., Mannan, Md. A., & Sahabuddin, M. (2021). The practices of Shariah governance systems of Islamic banks in Bangladesh. Pacific Accounting Review, 33(4), 505–524. https://doi.org/10.1108/PAR-10-2020-0195
Alam, Md. K., Rahman, S. A., Mustafa, H., Shah, S. M., & Hossain, Md. S. (2019). Shariah governance framework of Islamic banks in Bangladesh: Practices, problems and recommendations. Asian Economic and Financial Review, 9(1), 118–132. https://doi.org/10.18488/journal.aefr.2019.91.118.132
Ali, M., Khan, S. M., Puah, C.-H., Mubarik, M. S., & Ashfaq, M. (2023). Does stakeholder pressure matter in Islamic banks’ corporate social responsibility and financial performance? International Journal of Ethics and Systems, 39(2), 236–263. https://doi.org/10.1108/IJOES-10-2021-0183
Ali, S. N. (2017). Building trust in Islamic finance products and services. Society and Business Review, 12(3), 356–372. https://doi.org/10.1108/SBR-03-2017-0017
Almutairi, A. R., & Quttainah, M. A. (2019). Corporate governance and accounting conservatism in Islamic banks. Thunderbird International Business Review, 61(5), 745–764. https://doi.org/10.1002/tie.22063
Alwi, S. F. S., Osman, I., Badri, M. B., Muhamat, A. A., Muda, R., & Ibrahim, U. (2022). Issues of letter of credit in Malaysian Islamic banks. Journal of Risk and Financial Management, 15(9), 373. https://doi.org/10.3390/jrfm15090373
Amiram, D., Bozanic, Z., Cox, J. D., Dupont, Q., Karpoff, J. M., & Sloan, R. (2018). Financial reporting fraud and other forms of misconduct: A multidisciplinary review of the literature. Review of Accounting Studies, 23(2), 732–783. https://doi.org/10.1007/s11142-017-9435-x
Amran, A., Fauzi, H., Purwanto, Y., Darus, F., Yusoff, H., Zain, M. M., Naim, D. M. A., & Nejati, M. (2017). Social responsibility disclosure in Islamic banks: A comparative study of Indonesia and Malaysia. Journal of Financial Reporting and Accounting, 15(1), 99–115. https://doi.org/10.1108/JFRA-01-2015-0016
Andespa, R., Yeni, Y. H., Fernando, Y., & Sari, D. K. (2023). A systematic review of customer Sharia compliance behaviour in Islamic banks: Determinants and behavioural intention. Journal of Islamic Marketing, 15(4), 1013–1034. https://doi.org/10.1108/JIMA-06-2023-0181
Andespa, R., Yeni, Y. H., Fernando, Y., & Sari, D. K. (2024). Sustainable development of Islamic banks by creating Islamic branding: Challenges, importance, and strategies of Islamic branding. International Journal of Sustainable Development and Planning, 19(2), 637–650. https://doi.org/10.18280/ijsdp.190221
Aslam, E., Ur-Rehman, A., & Iqbal, A. (2021). Does corporate governance matter for asset quality of Islamic banks? Buletin Ekonomi Moneter Dan Perbankan, 24(2), 221–236. https://doi.org/10.21098/bemp.v24i2.1344
Asyiqin, I. Z., & Akbar, M. F. (2024). Integrating Sharia principles with environmental sustainability: A DSN-MUI fatwa analysis in Islamic capital markets. E3S Web of Conferences, 594(2nd International Conference on Environment and Smart Society (ICEnSO 2024)), 04007. https://doi.org/10.1051/e3sconf/202459404007
Ayedh, A. M., & Echchabi, A. (2015). Shari’ah supervision in the Yemeni Islamic banks: A qualitative survey. Qualitative Research in Financial Markets, 7(2), 159–172. https://doi.org/10.1108/QRFM-06-2014-0017
Bakhouche, A., El Ghak, T., & Alshiab, M. (2022). Does Islamicity matter for the stability of Islamic banks in dual banking systems? Heliyon, 8(4), e09245. https://doi.org/10.1016/j.heliyon.2022.e09245
Baklouti, I. (2022). Is the Sharia supervisory board a friend or an enemy of Islamic banks? Journal of Islamic Marketing, 13(2), 526–541. https://doi.org/10.1108/JIMA-04-2020-0118
Budiyono, I., & Sabilla, C. K. (2021). Analysis of the influence of audit committee, sharia supervisory board, and Islamic work ethic on the quality of Sharia bank financial statements in Indonesia. AL-ARBAH: Journal of Islamic Finance and Banking, 3(1), 99–110. https://doi.org/10.21580/al-arbah.2021.3.1.8066
Calder, R. (2020). Sharīʿah-compliant or Sharīʿah-based? The changing ethical discourse of Islamic finance. https://doi.org/10.1163/15730255-BJA10008
Daoud, Y., & Kammoun, A. (2024). Banking regulation and financial soundness nexus in view of the crisis: An Islamic banking perspective. International Journal of Economics and Financial Issues, 14(2), 168–177. https://doi.org/10.32479/ijefi.15760
Darwanto, & Chariri, A. (2019). Corporate governance and financial performance in Islamic banks: The role of the Sharia supervisory board in multiple-layer management. Banks and Bank Systems, 14(4), 183–191. https://doi.org/10.21511/bbs.14(4).2019.17
Daud, D. (2019). The role of Islamic governance in the reinforcement waqf reporting: SIRC Malaysia case. Journal of Islamic Accounting and Business Research, 10(3), 392–406. https://doi.org/10.1108/JIABR-01-2017-0008
Dewi, N. D. (2020). Praktik pengawasan Dewan Pengawas Syariah pada BMT Al Fath IKMI [Supervisory practices of the Sharia Supervisory Board at BMT Al Fath IKMI]. Journal of Islamic Business Management Studies (JIBMS), 1(1), 43–51. https://doi.org/10.51875/jibms.v1i1.176
Effendi, I., Murad, M., Rafiki, A., & Lubis, M. M. (2021). The application of the theory of reasoned action on services of Islamic rural banks in Indonesia. Journal of Islamic Marketing, 12(5), 951–976. https://doi.org/10.1108/JIMA-02-2020-0051
Effendi, K. A., & Widajatun, V. W. (2024). Growth of Islamic fintech in Indonesia. Journal of Economics, Finance and Management Studies, 7(6), 3620–3631. https://doi.org/10.47191/jefms/v7-i6-53
Endri, E., Fatmawatie, N., Sugianto, S., Humairoh, H., Annas, M., & Wiwaha, A. (2022). Determinants of efficiency of Indonesian Islamic rural banks. Decision Science Letters, 11(4), 391–398. http://growingscience.com/beta/dsl/5653-determinants-of-efficiency-of-indonesian-islamic-rural-banks.html
Faizi, F. (2024). How are Islamic banking products developed? Evidence from emerging country. Cogent Economics & Finance, 12(1), 2378961. https://doi.org/10.1080/23322039.2024.2378961
Falikhatun, F., Wahyuni, S., Nilasakti, A. O., & Niswah, M. A. (2020). Sharia governance and sustainability reporting: The mediating role of financial performance. Al-Uqud : Journal of Islamic Economics, 4(2), 218–234. https://doi.org/10.26740/al-uqud.v4n2.p218-234
Farag, H., Mallin, C., & Ow-Yong, K. (2018). Corporate governance in Islamic banks: New insights for dual board structure and agency relationships. Journal of International Financial Markets, Institutions and Money, 54, 59–77. https://doi.org/10.1016/j.intfin.2017.08.002
Fithria, A. (2022). Exploring the application of Sharia contracts on Islamic fintech peer-to-peer lending in Indonesia. Al-Hikmah: International Journal of Islamic Studies and Human Sciences, 5(6), 31–56. https://doi.org/10.46722/hikmah.v5i6.327
Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory, 30(2), 125–152. https://doi.org/10.2308/ajpt-50006
Ginena, K. (2014). Sharī‘ah risk and corporate governance of Islamic banks. Corporate Governance, 14(1), 86–103. https://doi.org/10.1108/CG-03-2013-0038
Haddad, A., & Souissi, M. N. (2022). The impact of Shariah Advisory Board characteristics on the financial performance of Islamic banks. Cogent Economics & Finance, 10(1), 2062911. https://doi.org/10.1080/23322039.2022.2062911
Haridan, N. M., Hassan, A. F. S., & Karbhari, Y. (2018). Governance, religious assurance and Islamic banks: Do Shariah boards effectively serve? Journal of Management and Governance, 22(4), 1015–1043. https://doi.org/10.1007/s10997-018-9418-8
Hariyanti, A., & Annisa, A. A. (2021). Pengaruh dewan pengawas syariah, ukuran perusahaan dan investment account holder terhadap pengungkapan Islamic social reporting dengan profitabilitas sebagai variabel moderating [The influence of the sharia supervisory board, company size and investment account holders on the disclosure of Islamic social reporting with profitability as a moderating variable]. Journal of Accounting and Digital Finance, 1(3), 238–248. https://doi.org/10.53088/jadfi.v1i3.127
Herawati, H., Rawi, R., & Destiana, R. (2019). Pengaruh ROA dan ukuran Dewan Pengawas Syariah terhadap Islamic social reporting pada bank umum syariah [The effect of ROA and the size of the Sharia Supervisory Board on Islamic social reporting in Islamic commercial banks]. Jurnal Akuntansi, 14(1), 1–12. https://doi.org/10.37058/jak.v14i1.958
Hermansyah, & Febriadi, S. R. (2024). Juridical review of net revenue sharing and profit sharing implementation in Islamic bank. Amwaluna: Jurnal Ekonomi Dan Keuangan Syariah, 8(1), 151–159. https://doi.org/10.29313/amwaluna.v8i1.3446
Hidayati, N. K., Setyowati, R., & Zakiyah, N. (2021). Peran Dewan Pengawas Syariah (DPS) dan Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI) dalam pengembangan industri wisata halal Indonesia [The role of the Sharia Supervisory Board (DPS) and the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) in the development of Indonesia’s halal tourism industry]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 6(3), 709–732. https://doi.org/10.30651/jms.v6i3.7585
Islam, M. M., Islam, M. A., Hassan, M. S., & AlHalaseh, R. (2025). Effectiveness of board of directors and risk-taking: The mediating role of Shari’ah supervisory board of Bangladesh Islamic financial institutions. International Journal of Islamic and Middle Eastern Finance and Management, ahead-of-print(ahead-of-print). https://doi.org/10.1108/IMEFM-04-2024-0204
Izzatika, N. F., & Lubis, A. T. (2016). Isu dan tantangan Kompetensi Dewan Pengawas Syariah di Indonesia [Issues and challenges of Sharia Supervisory Board Competence in Indonesia]. Jurnal Akuntansi dan Keuangan Islam, 4(2), 147–167. https://doi.org/10.35836/jakis.v4i2.24
Karbhari, Y., Benamraoui, A., & Hassan, A. F. S. (2023). Sharia boards, managerial strategies and governance practices in Islamic banks: A Goffmanesque discourse. Accounting, Auditing & Accountability Journal, 37(4), 1069–1095. https://doi.org/10.1108/AAAJ-07-2017-3037
Kartika, T., Firdaus, A., & Najib, M. (2019). Contrasting the drivers of customer loyalty; financing and depositor customer, single and dual customer, in Indonesian Islamic bank. Journal of Islamic Marketing, 11(4), 933–959. https://doi.org/10.1108/JIMA-04-2017-0040
Kasdi, A. (2018). Contribution of National Sharia Council Fatwa of Indonesian Council of Ulama (DSN-MUI) in the Islamic economic development in Indonesia. Iqtishadia, 11(1), 47–64. https://doi.org/10.21043/iqtishadia.v11i1.3187
Khalil, A., & Taktak, N. B. (2020). The impact of the Shariah board’s characteristics on the financial soundness of Islamic banks. Journal of Islamic Accounting and Business Research, 11(10), 1807–1825. https://doi.org/10.1108/JIABR-08-2018-0127
Khelassi, A., Ayad A., L., Halali, A., & Lutfi, B. M. (2024). The effect of external Shariah audit on the performance of Islamic banking: Evidence from Bahrain and Oman. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-12-2023-0396
Lee, S. P., Isa, M., Ahmad, R., & Bacha, O. I. (2021). Governance and risk-taking in conventional and Islamic banks. Managerial Finance, 47(5), 703–722. https://doi.org/10.1108/MF-04-2020-0146
Lestari, Y. D. (2020). Pengaruh ukuran bank, profitabilitas, kepemilikan institusional, ukuran Dewan Pengawas Syariah dan umur perusahaan terhadap pengungkapan Islamic social reporting (ISR) [The effect of bank size, profitability, institutional ownership, Sharia Supervisory Board size and company age on disclosure of Islamic social reporting (ISR)]. Juornal of Economics and Policy Studies, 1(1), 14–22. https://doi.org/10.21274/jeps.v1i1.3762
Leuz, C., & Wysocki, P. D. (2016). The economics of disclosure and financial reporting regulation: Evidence and suggestions for future research. Journal of Accounting Research, 54(2), 525–622. https://doi.org/10.1111/1475-679X.12115
Madani, H., Kebbi, A., & Khalid Nainar, S. M. (2025). Lost in translation-why an independent institutional identity of Islamic banks failed to emerge? Business & Society, 64(2), 379–420. https://doi.org/10.1177/00076503241255887
Malkawi, B. H. (2013). Shari’ah board in the governance structure of Islamic financial institutions. The American Journal of Comparative Law, 61(3), 539–578. https://doi.org/10.1093/ajcl/61.3.539
Mamatzakis, E., Alexakis, C., Yahyaee, K. A., Pappas, V., Mobarek, A., & Mollah, S. (2023). Does corporate governance affect the performance and stability of Islamic banks? Corporate Governance: The International Journal of Business in Society, 23(4), 888–919. https://doi.org/10.1108/CG-05-2022-0217
Ma’ruf, A., & Wulandari, A. P. (2023). Exploration of Shariah non-compliant risk: Evidence from indonesia. Jurnal Al-Qardh, 8(2), 110–121. https://doi.org/10.23971/jaq.v8i2.7064
Masrizal, Sukmana, R., Fianto, B. A., & Gultom, R. Z. (2023). Does economic freedom fosters Islamic rural banks efficiency? Evidence from Indonesia. International Journal of Productivity and Performance Management, 72(9), 2538–2558. https://doi.org/10.1108/IJPPM-11-2021-0660
Meskovic, A., Kozarevic, E., & Avdukic, A. (2024). The influence of national and individual Islamic governance on Islamic banks’ social performance. Journal of Islamic Accounting and Business Research, 15(6), 911–941. https://doi.org/10.1108/JIABR-03-2022-0077
Minaryanti, A. A., & Mihajat, M. I. S. (2024). A systematic literature review on the role of sharia governance in improving financial performance in Sharia banking. Journal of Islamic Accounting and Business Research, 15(4), 553–568. https://doi.org/10.1108/JIABR-08-2022-0192
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
Mu’adzah, N. (2022). Systematic review on sharia supervisory board in islamic banking. Ekonomi Islam Indonesia, 4(2). https://doi.org/10.58968/eii.v4i2.134
Muhammad, R., Azlan Annuar, H., Taufik, M., & Nugraheni, P. (2021). The influence of the SSB’s characteristics toward Sharia compliance of Islamic banks. Cogent Business & Management, 8(1), 1929033. https://doi.org/10.1080/23311975.2021.1929033
Muhammad, R., Suluki, A., & Nugraheni, P. (2020). Internal factors and non-performing financing in Indonesian Islamic rural banks. Cogent Business & Management, 7(1), 1823583. https://doi.org/10.1080/23311975.2020.1823583
Mukhibad, H., & Setiawan, D. (2022). Shariah supervisory board attributes and corporate risk-taking in Islamic banks. Cogent Business & Management, 9(1), 2158607. https://doi.org/10.1080/23311975.2022.2158607
Neifar, S., Salhi, B., & Jarboui, A. (2020). The moderating role of Shariah supervisory board on the relationship between board effectiveness, operational risk transparency and bank performance. International Journal of Ethics and Systems, 36(3), 325–349. https://doi.org/10.1108/IJOES-09-2019-0155
Nguyen, Q. K. (2021). Oversight of bank risk-taking by audit committees and Sharia committees: Conventional vs Islamic banks. Heliyon, 7(8), e07798. https://doi.org/10.1016/j.heliyon.2021.e07798
Noordin, N. H., & Kassim, S. (2019). Does Shariah committee composition influence Shariah governance disclosure?: Evidence from Malaysian Islamic banks. Journal of Islamic Accounting and Business Research, 10(2), 158–184. https://doi.org/10.1108/JIABR-04-2016-0047
Nurlaela, N., Luthfiyana, M., Sulastri, A., & Wahyunita, E. S. (2020). Reviewing the fatwas related to fintech applications in islamic financial institutions in Indonesia. Share: Jurnal Ekonomi Dan Keuangan Islam, 9(2), 206–226. https://doi.org/10.22373/share.v9i2.7989
Prasojo, P., Yadiati, W., Fitrijanti, T., & Sueb, M. (2023). Exploring the relationship between intellectual capital and maqasid sharia-based performance: The moderating role of sharia governance. Journal of Islamic Marketing, 14(8), 2130–2146. https://doi.org/10.1108/JIMA-07-2021-0226
Putri, V. A., & Akbary, N. M. M. (2021). Islamic fintech and Indonesian MSMEs during the pandemic. Sebelas Maret Business Review, 6(2), 111–120. https://doi.org/10.20961/smbr.v6i2.56063
Rahayu, S. K., Komala, A. R., & Yusuf, S. N. B. S. (2024). Enhancing Islamic banking through accounting and taxation harmonization: A comparative study of Indonesia and Malaysia. Australasian Accounting, Business and Finance Journal, 18(5), 155–190. https://doi.org/10.14453/aabfj.v18i5.09
Rahdian, A., Mardian, S., & Razikun, M. (2023). The measurement of good corporate governance in Islamic banking and its effect on financial performance (Empirical study of Islamic commercial banks in Indonesia). Jurnal Akuntansi Dan Keuangan Islam, 11(2), 189–204. https://doi.org/10.35836/jakis.v11i2.530
Rahim, M. A., Shaharuddin, N. ’Ain S., & Suki, N. M. (2024). Shariah governance disclosure and its effect on Islamic banks’ financial performance: Evidence from Malaysia and GCC countries. Journal of Islamic Accounting and Business Research, 15(4), 619–642. https://doi.org/10.1108/JIABR-08-2021-0235
Rais, M., & Pramata, H. (2024). Regulating Sharia financial transactions: The role of the Indonesian Ulema Council (MUI) and implications for Islamic finance in Indonesia. Law and Economics, 18(1), 1–11. https://journals.ristek.or.id/index.php/LE/article/view/63
Rashid, Md. H. U., Khanam, R., & Ullah, Md. H. (2022). Corporate governance and IFSB standard-4: Evidence from Islamic banks in Bangladesh. International Journal of Islamic and Middle Eastern Finance and Management, 15(1), 1–17. https://doi.org/10.1108/IMEFM-03-2020-0124
Retnowati, M. S., & Allhumahira, I. Z. (2023). Relevance of compliance on Islamic law by the construction of MUI DSN Fatwa on murābahah financing products at BMT Khasanah Tawang, Weru. E-Journal Ekonomi Bisnis Dan Akuntansi, 10(1), 46–52. https://doi.org/10.19184/ejeba.v10i1.36885
Rosalina, H., Zakiyah, F., Rahayu, A., Zam-zamiyah, F. T., Ismail, A. M., & Izharuddin, R. (2022). Sharia supervisory board practices in conducting operational supervision in Sharia microfinance institutions. ITQAN: Journal of Islamic Economics, Management, and Finance, 1(1), 25–35. https://doi.org/10.57053/itqan.v1i1.6
Saleh, A. O. H., Alsirhani, S. M. M., & Muayyad, D. M. (2024). Shariah governance and audit in the Islamic banks: A literature review. In B. Alareeni & I. Elgedawy (Eds.), AI and business, and innovation research: Understanding the potential and risks of AI for modern enterprises (Vol. 440, pp. 823–831). Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-42085-6_71
Sauri, M. S. (2023). Peran Dewan Pengawas Syariah dalam pengawasan produk keuangan syariah [The role of the Sharia Supervisory Board in the supervision of Islamic financial products]. NOMISMA: Jurnal Ekonomi, Bisnis, Dan Manajemen, 1(1), 128–144. https://journal.polymathes.id/index.php/NOMISMA/article/view/7
Segarawasesa, F. S. (2021). Analysis of factors affecting sharia compliance levels in sharia banks in Indonesia. Asian Journal of Islamic Management (AJIM), 3(1), 56–66. https://doi.org/10.20885/ajim.vol3.iss1.art6
Sholihin, M., Zaki, A., & Maulana, A. O. (2018). Do Islamic rural banks consider Islamic morality in assessing credit applications? Journal of Islamic Accounting and Business Research, 9(4), 498–513. https://doi.org/10.1108/JIABR-01-2018-0015
Sueb, M., Prasojo, Muhfiatun, Syarifah, L., & Nur Anggara Putra, R. (2022). The effect of shariah board characteristics, risk-taking, and maqasid Shariah on an Islamic bank’s performance. Banks and Bank Systems, 17(3), 89–101. https://doi.org/10.21511/bbs.17(3).2022.08
Tabash, M. I., Alam, Md. K., & Rahman, Md. M. (2022). Ethical legitimacy of Islamic banks and Shariah governance: Evidence from Bangladesh. Journal of Public Affairs, 22(2), e2487. https://doi.org/10.1002/pa.2487
Tari, L. M., Habibah Qurrota A’iny, Ifaturochmah, Haritza Hikmatyar, & Maisarah. (2023). Role and responsibilities of the Sharia Supervisory Council (DPS) at Sharia People’s Finance Bank (BPRS) in Depok City. ITQAN: Journal of Islamic Economics, Management, and Finance, 2(2), 49–55. https://doi.org/10.57053/itqan.v2i2.19
Taufik, M. (2023). Can Shari’ah supervisory board and Islamic bank characteristics reduce tax avoidance? Evidence in Indonesia and Malaysia. Journal of Financial Crime, 30(3), 677–701. https://doi.org/10.1108/JFC-03-2022-0059
Trinugroho, I., Risfandy, T., & Ariefianto, M. D. (2018). Competition, diversification, and bank margins: Evidence from Indonesian Islamic rural banks. Borsa Istanbul Review, 18(4), 349–358. https://doi.org/10.1016/j.bir.2018.07.006
Ullah, S., Harwood, I. A., & Jamali, D. (2018). ‘Fatwa repositioning’: The hidden struggle for shari’a compliance within Islamic financial institutions. Journal of Business Ethics, 149(4), 895–917. https://doi.org/10.1007/s10551-016-3090-1
Umar, U. H., Al-Faryan, M. A. S., & Osemy, A. Z. Z. (2024). Does financial expertise influence Islamic bank risk-taking? Managerial Finance, 50(12), 2011–2030. https://doi.org/10.1108/MF-03-2024-0212
Warninda, T. D. (2014). Islamic rural bank profitability: Evidence from Indonesia. Journal of Islamic Economics Banking and Finance, 10(3), 99–122. https://doi.org/10.12816/0025955
Yusmad, M. A., Irwansyah, I., Marinsah, S. A. B., Ayyub, M., & Muang, Muh. S. K. (2024). Revitalization supervision Islamic banking in enhancement compliance in Indonesia and Malaysia. Samarah: Jurnal Hukum Keluarga Dan Hukum Islam, 8(1), 468. https://doi.org/10.22373/sjhk.v8i1.20524
Yusra, Nurnarsrina, Febriyani, N., & Huda, N. (2024). Efektivitas peran Dewan Pengawas Syariah dalam meminimalkan risiko kepatuhan di bank syariah di Indonesia [The effectiveness of the role of the Sharia Supervisory Board in minimizing compliance risk in Islamic banks in Indonesia]. Socius: Jurnal Penelitian Ilmu-Ilmu Sosial, 2(5), 135–144. https://doi.org/10.5281/zenodo.14547665