The Effect of Islamic Bank Financing Performance on the Achievement of Maqashid Shariah and Economic Sustainability in Indonesia
DOI:
https://doi.org/10.37641/jimkes.v14i1.5035Keywords:
Islamic bank financing performance, Maqashid Shariah, economic sustainability, Islamic banking, SEM-PLS, Indonesia, islamic banking, mawashid, shariah, sustainability, indonesia, financing performanceAbstract
This study examines the effect of Islamic bank financing performance on the achievement of Maqashid Shariah and economic sustainability in Indonesia during the 2020–2024 period. The study is grounded in the view that Islamic banking should not be oriented solely toward profitability, but must also fulfill broader social, ethical, and developmental objectives in accordance with Islamic principles. A quantitative approach was employed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The analysis was based on secondary data collected from 10 Islamic commercial banks in Indonesia, annual financial reports, Financial Services Authority statistics, and Bank Indonesia publications. Financing performance was measured using indicators such as Financing to Deposit Ratio (FDR), Non-Performing Financing (NPF), Return on Assets (ROA), and Operational Efficiency Ratio (BOPO), while Maqashid Shariah was represented by the dimensions of education, justice, and public welfare, and economic sustainability was reflected in green financing, financial inclusion, and sustainable economic contribution. The results show that financing performance has a positive and significant effect on the achievement of Maqashid Shariah. Furthermore, Maqashid Shariah has a positive and significant effect on economic sustainability. The findings also confirm that Maqashid Shariah mediates the relationship between financing performance and economic sustainability. These results imply that the effectiveness of Islamic bank financing should be assessed not only through financial indicators but also through its contribution to social welfare and sustainable economic development. This study contributes to the literature on Islamic banking by integrating performance, maqashid orientation, and sustainability into a single analytical framework and offers practical implications for regulators and Islamic banking institutions in strengthening value-based financial intermediation.
Keywords: Islamic bank financing performance, Maqashid Shariah, economic sustainability, Islamic banking, SEM-PLS, Indonesia
Downloads
References
[1] Abdullah, M., Azmin, A., & Kassim, M. A. M. (2025a). Risky Riding Behaviors and Safety Challenges in Malaysia’s Gig Economy: A Comprehensive Review. International Journal of Research and Innovation in Social Science. https://doi.org/10.47772/ijriss.2025.9010017
[2] Abdullah, M., Azmin, A., & Kassim, M. A. M. (2025b). Risky Riding Behaviours among p-Hailing Riders in Malaysia: Implications for Business Operations and Workforce Safety in the Gig Economy. International Journal of Business and Technopreneurship (IJBT). https://doi.org/10.58915/ijbt.v15i1.1582
[3] Acheampong, R. (2021). Societal impacts of smart, digital platform mobility services—an empirical study and policy implications of passenger safety and security in ride-hailing. Case Studies on Transport Policy. https://doi.org/10.1016/j.cstp.2021.01.008
[4] Ajzen, Icek. 1991. “The Theory of Planned Behavior.” Academic Press Inc. 179–211.
[5] Ali, N., Javid, M., Campisi, T., Chaiyasarn, K., & Saingam, P. (2022). Measuring Customers’ Satisfaction and Preferences for Ride-Hailing Services in a Developing Country. Sustainability. https://doi.org/10.3390/su142215484
[6] Ali Sulton, Bayu Rizky Pratama, Moch Ferdy Sofansyah, Muhammad Fikrul Mustanir, and Dava Admirald Naufalian. 2024. “Analisis Pengaruh Kualitas Produk, Inovasi, Dan Harga Terhadap Keputusan Pembelian Sepeda Motor Honda Dengan Minat Beli Sebagai Variabel Intervening.” in Seminar Nasional Teknologi Industri Berkelanjutan. Vol. 04. Institut Teknologi Adhi Tama Surabaya.
[7] Apriandy, F., Fisaini, J., Lulusi, L., Faisal, R., Al-Farichi, M., & Yulanda, Q. (2024). An Analysis of Ride Hailing Preference Among University Students Using Artificial Neural Networks (ANN). E3S Web of Conferences. https://doi.org/10.1051/e3sconf/202447601023
[8] Ayu, Rizki Dewi, and Khumar Mahendra. 2025. “3 Pelopor Ojek Online di Indonesia: Uber, Gojek, dan Grab | tempo.co.” https://www.tempo.co/ekonomi/3-pelopor-ojek-online-di-indonesia-uber-gojek-dan-grab-1210715.
[9] Bocage, Claire, Yohana Mashalla, Paul Motshome, Othusitse Fane, Lydia Masilo-Nkhoma, Olorato Mathiba, Emang Mautle, Botsile Kuiperij, Tlhabano Mmusi, John H. Holmes, Vicky Tam, Frances K. Barg, and Douglas J. Wiebe. 2020. “Applying the Haddon Matrix Conceptual Model to Guide Motor Vehicle Crash Injury Research and Prevention in Botswana.” African Journal of Emergency Medicine 10:S38–43. doi:10.1016/j.afjem.2020.04.006.
[10] Chalermpong, S., Kato, H., Thaithatkul, P., Ratanawaraha, A., Fillone, A., Hoang-Tung, N., & Jittrapirom, P. (2023). Ride-hailing applications in Southeast Asia: A literature review. International Journal of Sustainable Transportation, 17, 298–318. https://doi.org/10.1080/15568318.2022.2032885
[11] Djunaidi, Z., Khaliwa, A., Hafia, A., & Putri, N. (2024). Daily Income Targets and Passenger Pressure on Safety Risky Riding Behavior Among Online Motorcycle Taxi Riders in Jakarta, Indonesia. Kesmas: Jurnal Kesehatan Masyarakat Nasional. https://doi.org/10.21109/kesmas.v19i1.7796
[12] Fahmi Idris, Rudi Setiawan, and Teguh Heri Widodo. 2024. “Pengaruh Kualitas Produk Terhadap Minat BeliSepeda Motor Honda Beat(Studi Pada CV. Subur Jaya Kota Tasikmalaya).” Jurnal Iliah ADBIS 9(1):2024.
[13] Firmansyah, A., Putra, R., & Santoso, B. (2025). Integrasi manajemen sekolah dan Projek Penguatan Profil Pelajar Pancasila (P5) dalam meningkatkan karakter siswa. Journal of Character Education and Leadership, 3(1), 45–60. https://doi.org/10.1234/jcel.2025.03105
[14] Firmansyah, D., Irawan, M. Z., Rizki, M., Amrozi, M., Kato, H., Chalermpong, S., Thaithatkul, P., & Del Barrio Álvarez, D. (2025). Exploring the transition to electric motorcycles and its role in multimodal travel in the Jakarta metropolitan area. Discover Sustainability, 6. https://doi.org/10.1007/s43621-025-01908-0
[15] Halim, W., Puspasari, M., Prasetyo, R. A. B., Ardiansyah, Y., Huda, L., Lahay, I., Lady, L., Didin, F. S., Mahachandra, M., & Iridiastadi, H. (2025). Understanding motorcycle rider behavior and the related traffic contexts in Indonesia using naturalistic driving study. Heliyon, 11. https://doi.org/10.1016/j.heliyon.2025.e42494
[16] Hoang-Tung, N., Linh, H. T., Cương, H. V., Binh, P. Le, Takeda, S., & Kato, H. (2022). Ride-Hailing Service Adoption and Local Context in Motorcycle-Based Societies: Case Study in Hanoi, Vietnam. Sustainability. https://doi.org/10.3390/su14020728
[17] Hu, S., & Yang, Y. (2024). Safety of female ride-hailing passengers: Perception and prevention. Humanities and Social Sciences Communications, 11, 1–18. https://doi.org/10.1057/s41599-024-02740-z
[18] Hubdat. 2025. Perhubungan Darat Dalam Angka 2024. Kementerian Perhubungan Republik Indonesia. https://hubdat.dephub.go.id/media/documents/Perhubungan_Darat_Dalam_Angka_PDDA_Tahun_2024.pdf.
[19] Irawan, M., Bastarianto, F. F., Dewanti, Sugiarto, S., & Amrozi, M. (2021). Measuring the perceived need for motorcycle-based ride-hailing services on trip characteristics among university students in Yogyakarta, Indonesia. Travel Behaviour and Society. https://doi.org/10.1016/j.tbs.2021.05.005
[20] Jawi, Zulhaidi Mohd, Mohd Hafzi Md Isa, Mohd Syazwan Solah, Aqbal Hafeez Ariffin, Khairil Anwar Abu Kassim, and Shaw Voon Wong. 2013. “New Car Assessment Program for Southeast Asian Countries (ASEAN NCAP) – A New Paradigm Shift in the ASEAN’s Automotive Ecosystem.”
[21] Jim, Mahafizur Rahman. 2024. “Determinants of Purchase Intentions of Motorbikes: An Empirical Study on Dhaka City.” ERBE- European Review of Business Economics III(2). doi:10.26619/ERBE-2024.3.2.4.
[22] Mohd, Rizaimy Shaharudin, Wan Mansor Suhardi, Abu Hassan Anita, Wan Omar Maznah, and Harniza Harun Etty. 2013. “The Relationship between Product Quality and Purchase Intention: The Case of Malaysias National Motorcycle/Scooter Manufacturer.” African Journal of Business Management 5(20):8163–76. doi:10.5897/AJBM11.267.
[23] Muhammad Daffa and Sumadi. 2023. “Minat Beli Sepeda Motor Vespa Melalui Faktor Intervening Sikap.” Indonesia Journal of Economics, Business, Accounting, and Management 01(05):1–14.
[24] Natakusuma, A., & Putro, U. (2025). Influencing Factors of EV Ride-Hailing Adoption in Jakarta: A Case Study of GoRide Electric. Journal Integration of Management Studies. https://doi.org/10.58229/jims.v3i2.332
[25] Purwaningsih, R., Ramadhan, P., Budiawan, W., Kurniawan, D., Galih, N., & Prakosa, A. (2025). A TRIZ approach to motorcycle passenger comfort in developing an ergonomic Backrest. World Journal of Advanced Research and Reviews. https://doi.org/10.30574/wjarr.2025.26.3.2250
[26] Putra, Fahrul Dwi. 2025. “Berapa Banyak Driver Ojol Di Indonesia? Segini Jumlahnya.” https://www.tangerangnews.com/nasional/read/53760/Berapa-Banyak-Driver-Ojol-di-Indonesia-Segini-Jumlahnya.
[27] Ramadhani, J. A. (2025). Reframing Resistance: Religious Branding and New Hegemonies in Instagram Content of @ShejekIndonesia. Sabda: Jurnal Kajian Kebudayaan. https://doi.org/10.14710/sabda.20.1.133-143
[28] Rustagi, Neeti, Anil Kumar, Lobzang Norbu, and Dinesh Vyas. 2018. “Applying Haddon Matrix for Evaluation of Road Crash Victims in Delhi, India.” Indian Journal of Surgery 80(5):479–87. doi:10.1007/s12262-017-1632-0.
[29] Sopiyadin, Deni A., and Uce Karna Suganda. 2024. “Pengaruh Promosi, Harga Dan Lokasi Terhadap Minat Beli Sepeda Motor Bebek Dan Sport Di Kota Bandung.” Jurnal Abdimas Kartika Wijayakusuma 5(3):1. doi:10.26874/jakw.v5i3.521.
[30] Suwignjo, P., Yuniarto, M., Nugraha, Y., Desanti, A., Sidharta, I., Wiratno, S., & Yuwono, T. (2023). Benefits of Electric Motorcycle in Improving Personal Sustainable Economy: A View from Indonesia Online Ride-Hailing Rider. International Journal of Technology. https://doi.org/10.14716/ijtech.v14i1.5454
[31] Tang, Y., Guo, P., Tang, C., & Wang, Y. (2021). Gender‐Related Operational Issues Arising from On‐Demand Ride‐Hailing Platforms: Safety Concerns and System Configuration. Production and Operations Management, 30, 3481–3496. https://doi.org/10.1111/poms.13444
[32] Vichiensan, V., Wasuntarasook, V., Malaitham, S., Fukuda, A., & Rujopakarn, W. (2025). Willingness to Pay for Station Access Transport: A Mixed Logit Model with Heterogeneous Travel Time Valuation. Sustainability. https://doi.org/10.3390/su17156715
[33] Waluyo, T. A., Irawan, M., & Dewanti. (2022). Adopting Electric Motorcycles for Ride-Hailing Services: Influential Factors from Driver’s Perspective. Sustainability. https://doi.org/10.3390/su141911891
[34] Widiastuti, N. O., & Irawan, M. (2024). Ride-Hailing Preferences for First- and Last-Mile Connectivity at Intercity Transit Hubs. Sustainability. https://doi.org/10.3390/su16072927
[35] Zulkipli, Z.H., N. K. Alias, A. Omar, D. W. Kak, M. S. Abdul Khalid, A. S. Amir, M. N. Mahmud, Z. M. Jawi, and K. A. Abu Kassim. 2021. “MyMAP: World’s First Holistic Rating System for Motorcycles.” Journal of the Society of Automotive Engineers Malaysia 5(3):408–16. doi:10.56381/jsaem.v5i3.183.
[36] Zulkipli, Zarir Hafiz, Zulhaidi Mohd Jawi, and Khairil Anwar Abu Kassim, eds. 2021. Malaysian Motorcycle Assessment Program Guidebook. Miros & Marii.
