Jurnal Ekonomi dan Bisnis Islam
Vol. 11 No. 1 (2025): JANUARY - JUNE 2025

DESIGNING MAQASHID INDEX MEASUREMENT MODELS INTEGRATED WITH ESG IN ISLAMIC FINANCIAL INSTITUTIONS

Maarif, Ahmad Fathul (Unknown)
Darmawan, Darmawan (Unknown)
Mohamad, Siti Nor Amira (Unknown)
Huda, Nurul (Unknown)
Fajar, Ahmad (Unknown)



Article Info

Publish Date
30 Jun 2025

Abstract

This study aims to evaluate the performance of Islamic Financial Institutions (IFIs) through the integration of Maqashid Sharia principles and Environmental, Social, and Governance (ESG) criteria. The method used is Analytic Network Process (ANP), which allows the identification of priority aspects in performance measurement in a holistic manner.  The results show that the aspect of hifdzu ad-diin (protection of religion) is the highest priority in the maqashid objectives cluster. Meanwhile, in the ESG main criteria cluster, environmental aspects occupy the most dominant position. At the sub-criteria level, natural resource conservation (E), stakeholder awareness (S), and environmentally friendly policies (G) receive the highest weight. This study makes a new contribution by building an Islamic values-based performance measurement model integrated with ESG, which is relevant for realizing sustainable finance practices. This integration strengthens the evaluation approach to institutional sustainability, not only from an economic perspective, but also from social, ethical and environmental aspects.

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Journal Info

Abbrev

JEBIS

Publisher

Subject

Economics, Econometrics & Finance

Description

Journal of Economics and Business Islamic (JEBIS) accepts original manuscripts in the field of Islamics Economics, including research reports, case reports, application of theory, critical studies and literature reviews. The spread of Islamic Economics include: 1. Islamic Finance and Capital ...