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The purpose of this study is to examine the relationship between intellectual capital, sharia governance and Islamic bank performance based on the maqasid sharia index, as well as the moderating effect of sharia governance on the relationship between intellectual capital and maqasid sharia index.

Dynamic panel regression is used with the two-step generalised method of moments with data from the Bankscope database for 2014–2018.

The results show that higher intellectual capital efficiency improves Islamic bank performance based on maqasid sharia. Larger board sizes are also found to improve Islamic bank performance. By contrast, higher sharia supervisory board quality and larger independent boards can reduce Islamic bank performance. In the moderating relationship, sharia governance is proven to moderate the relationship between intellectual capital and Islamic bank performance.

This study used a sample that is restricted to Islamic bank and only used value-added intellectual coefficient to measure intellectual capital. Thirdly, the quality of the sharia supervisory board only involves the presence, size, expertise and doctoral qualification of the sharia supervisory board.

This research: analyses the relationship between intellectual capital, sharia governance and Islamic bank performance in one research framework; uses maqasid sharia index-based Islamic bank performance benchmarks; and examines the moderating effect of sharia governance on the relationship between intellectual capital and maqasid sharia index.

The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the conceptual discussion developed through a thorough review of selected key literature.

The study uses bibliometric analysis, collecting information drawn from 219 articles published in 68 journals during the period of 2006–2022. This study uses VOSviewer, RStudio, Microsoft Excel, and an examination of research time periods using the Scopus database to illustrate the citation analysis and keyword map. It is also strengthened by content analysis of selected studies.

The main research theme found in this study is the application of maqashid sharia in Islamic banks, with Islamic banks and Islamic finance among the most frequently used keywords. Meanwhile, the geographical spread of maqashid sharia research has reflected its universal acceptance, as it has spread across both Muslim-dominant and non-Muslim-dominant countries. Besides, maqashid sharia is found to be an extremely important subject for ensuring the ethical dimension of Islamic finance products and services, a more inclusive human development index, and contributing to the international agenda of Sustainable Development Goals. Lastly, future research is expected to broaden it into a multi-dimensional horizon, with several recommendations offered to enrich the understanding of maqashid sharia.

The findings of this study can be beneficial to multiple stakeholders in Islamic finance industry, including the management of Islamic banks, who can enhance the values of maqashid sharia in designing their products/services, and the regulators, who can formulate regulatory frameworks which are reflective of maqashid sharia principles.

This study will assist future scholars in this field to formulate and design exciting research ideas and models to address the deficiencies found in the current implementation of maqashid sharia within Islamic finance industry.

The primary contribution of this study is to provide comprehensive review and discussion of selected significant literature on maqashid sharia and give direction for future research. In addition, this study also extends and incorporates the results of bibliometrics using the recent maqashid sharia studies published at the end of 2022.

This study aims to systematically explore the approaches used by previous studies in measuring the performance of Islamic banks based on maqāṣid al-Sharīʿah.

The data obtained in this study were derived from a review of empirical literature based on 15 articles published between 2012 and 2019. The sample articles on the performance of Islamic banks based on maqāṣid al-Sharīʿah were located by searching keywords in the most relevant social science research databases such as Scopus, Web of Science and EBSCOhost.

The emerging trend in measuring the performance of Islamic banks from the maqāṣid perspective highlighted that there is insufficient research on the determinants of Islamic bank performance.

The reviews undertaken in this paper will resolve the literature gaps in the area of maqāṣid al-Sharīʿah and Islamic banks, as this study serves as a reference for scholars, academicians and interested researchers in Islamic banking and finance studies to pursue more research in this area.

Performance measurement based on maqāṣid al-Sharīʿah enhances society’s confidence in supporting Islamic banking practices, particularly among the Muslim community. Islamic banks can also be exemplary financial intermediaries supporting fair and equitable financial systems for the entire community.

This paper is original in its nature, considering that understanding the relationship between maqāṣid al-Sharīʿah and the performance of Islamic banks is limited. This paper reveals a literature gap that can be explored by future studies theoretically and practically.

The halal industry is one of the most growing industries in the world. It refers to the industry in line with Islamic principles and requirements. The emergence of this industry aims to fulfil the requirement of Islamic-compliant products and services. Surprisingly, the industry has been growing in both Muslim and non-Muslim countries. Assessing the performance of the industry will be notable for ensuring that it obtains its objectives. The proper performance measurement should highlight business perspectives and religious aspects. This study aims to explore the current issues and challenges in developing Maqashid Al-Shari’ah-based performance measurement in the halal industry.

This is a qualitative research using in-depth interviews, and uses content analysis to interpret and explain the interview result. Interviews were conducted with experts in Maqashid Al-Shari’ah and Islamic capital markets.

The existence of the concept of Maqashid Al-Shari’ah is to create maslahah for all human beings. The development of Maqashid Al-Shari’ah performance measurement for the business is very important. It has only been developed for Islamic financial industry. Unfortunately, it is found that the development of Maqashid Al-Shari’ah performance measurement has not been carried out comprehensively in non-financial industry. The main issue is the absence of the applicable measurements. Therefore, collective decision is required to develop the appropriate measurements.

There is a necessity for regulator to produce standards on Maqashid Al-Shari’ah-based performance measurement. The government policy plays an important role in the development and implementation of Maqashid Al-Shari’ah -based measurement index.

This paper highlights the issue of the development of Maqashid Al-Shari’ah -based performance measurement in halal business and commerce which has not much discussed in prior studies.

This paper aims to extend the existing triple bottom line framework (Prosperity, People and Planet [so-called 3Ps]) with a new dimension, namely, Prophet, to reflect Islamic values (the now 4Ps) for banks seeking compliance with Islamic religious principles.

This study conducts a survey of 504 Islamic bank stakeholders across six provinces in Indonesia and use regression analysis to test the applicability of the 4Ps. This paper further examines their application in two large Islamic banks in Indonesia and Malaysia.

The models are all highly significant and well reflect a broad stakeholder perspective on bank performance. Of the four elements, this study finds stakeholders rank Prosperity first, followed by Prophet and then Planet. The case studies strengthen the application of the new Prophet dimension as a way for Islamic banks to improve their financial, social and economic performance, particularly during periods of financial distress.

This study only uses survey data from a single country, and this may limit the generalizability of the findings.

Practitioners will find the quadruple bottom line useful in assessing organizational performance, as will regulators seeking to improve the social and economic outcomes of the Islamic banking sector.

This paper internalises maqasid al-syari’ah (the most basic goal of Islamic law) as a simple but essential approach to organizational performance using empirical evidence from a real-world banking setting.

This paper aims to meta-analyze the results of the prior studies related to the relationship of human capital and financial performance in Islamic banking.

To examine the relationship between human capital and financial of Islamic banks, 23 empirical studies having sample of 15,607 are considered for the meta-analysis. Moreover, different measures related to financial performance including return on assets (ROA), return of equity (ROE) and Tobin’s Q have been taken as moderating for further subgroup analysis.

The results of meta-analysis reveal a positive correlation between human capital and financial performance with an effect size of 0.268. The subgroup analyses showed significant positive associations of human capital with ROA and ROE, insignificant with Tobin’s Q.

This study suggests Islamic banking should prioritize human capital development, maintain consistency and adopt a long-term perspective. Future research should consider context-specific factors and harmonize human capital and financial performance measurements for consensus.

This paper aims to examine the level of Islamic social reporting (ISR) disclosure of Islamic banking in Gulf Cooperative Council (GCC) countries using a checklist based on Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI) standards.

A quantitative method – Tobit Model – is adopted in this study. The unweighted disclosure method used to measure the ISR disclosure checklist consist of 51 items in Islamic banks (IBs) in the GCC countries. The stakeholder theory and legitimacy theory are used to investigate the possible banking performance factors affecting the accounting practices such as ISR disclosure in IBs.

The findings show that the ISR disclosure index is linked to the IBs’ performance indicators in GCC countries. The result indicates both Islamic banking profitability and age establish positive and statistically significant relationship with ISR disclosure while leverage establishes significant negative relationship with ISR disclosure. This implies that Islamic banking profitability, leverage, and age are essential bank performance indicators that make ISR disclosure worthy of doing even in the presence of Islamic bank stakeholders in GCC countries. This finding linked compliance with the mandatory disclosure recommendations of AAOIFI Standard No. 7, as well as voluntary disclosure.

This study used cross sectional data for the year 2019, which is considered more recent despite its being a year data analysis. However, future research should consider mix method as well as more analysis tools provided their number of observations are sufficient enough.

The study identifies the factors that may enhance Islamic financial institutions, including Islamic banking in GCC countries, to comply with ISR disclosure. The application of this study supports Accounting standards setters to consider standards that support ISR disclosure in Islamic banking in different countries.

To the best of the authors’ knowledge, this study is novel in exploring the level of ISR disclosure in Islamic banking in GCC countries by using a checklist based on AAOIFI standard No. 7 and establishes the relationship between ISR disclosure index and IBs profitability, leverage, as well as age of Islamic banking in operation.

Many scholars have primarily disregarded employee motivation in the context of Western and Islamic ideas. To better understand employee motivation, this paper aims to explore a novel approach of fusing McClelland’s needs theory (i.e. achievement, power and affiliation) with Maqasid Shariah.

This study adopts a theoretical research design. There will be a thorough literature study of McClelland’s theory, Maqasid Shariah, and employee motivation. Qualitative content analysis is used to examine and compile pertinent ideas. To give a thorough framework for comprehending employee motivation from both Western and Islamic ethical viewpoints, McClelland’s theory and Maqasid Shariah are integrated.

This paper has conceptualized the integration of Maqasid Shariah’s five requirements with McClelland’s need theory. It is suggested that Maqasid Shariah and McClelland’s need theory be combined to understand employee motivation. For employees, the integration of McClelland’s need theory and Maqasid Shariah entails developing a work environment that attends to their many needs, is consistent with Islamic principles, encourages justice and equity, supports both professional and personal development and promotes social responsibility. By combining McClelland’s need theory and Maqasid Shariah, 15 propositions are developed to explain employee motivation. The study offers a measurement index to explain employee motivation based on the two theories.

The integration of McClelland’s theory of need and Maqasid Shariah offers expected positive implications. By considering the cultural and religious context in Islamic societies, researchers can adopt a more sensitive approach to studying motivation. This blend provides a holistic understanding of motivation, incorporating individual needs and broader ethical dimensions. Studies may explore the impact on prosocial behavior, organizational values, leadership practices and employee well-being. Understanding the alignment between personal motives and ethical principles can benefit organizations in diverse workplaces, emphasizing long-term sustainability and fostering employee engagement and commitment.

The integration of McClelland’s theory and Maqasid Shariah shows the potential implications to increase employee motivation. This study contributes significantly to Maqasid Shariah theory in business research by guiding ethical decision-making aligned with Islamic values, fostering inclusive workplaces and offering strategies for boosting employee morale. It emphasizes ethical practices, legal compliance and community engagement, while also encouraging sustainable business models that consider societal well-being and the environment.

This paper provides its unique value by being among the first to integrate McClelland’s theory and Maqasid Shariah and providing an innovative approach in developing a new measurement index in the context of employee motivation.

This study aims to examine the relationship of Indonesia’s Sharia Stock Index (ISSI) firms on environmental, social and governance (ESG) disclosure. This study is interesting because ISSI firms are supposed to comply with Islamic values as this has been reflected in good corporate governance activities, demonstrating responsibility to others and participating in preserving nature/environmental activities.

The authors use sample firms that are listed on the Indonesia Shariah-compliant Stock Index (ISSI) from 2011 to 2020, which also published sustainability reports.

The study found that sharia firms are positively related to ESG disclosure. The authors also found that ESG disclosure of sharia firms is more pronounced in the reporting section of general, economic, environmental and social. Other findings suggest differences in the segments reported in the COVID and pre-COVID periods. This result is also robust by conducting a self-selection bias test with Heckman’s two-stage regression and Coarsened Exact Matching regression.

For policymakers, these results indicate that different characteristics of firms can affect ESG disclosure, and economic conditions will determine which sectors are disclosed the most.

This study provides empirical evidence that Indonesian Shariah-compliant stock index firms carried out their mission to disclose more information about their environmental and social responsibilities and governance issues.

This study aims to analyse whether Sharia-compliant companies have better sustainability performance, especially in the midst of the COVID-19 pandemic. The pandemic context is worth investigating as there is a concern that companies will reduce their sustainability activities to focus more on economic recovery, thereby leading to lower sustainability performance.

This study uses data from companies listed on Indonesian and Malaysian stock exchanges. These two countries have experienced rapid developments in Islamic finance and possess similar criteria in assigning the Sharia compliance label to a company. The data on sustainability performance and its three dimensions (environmental, social and governance) were gathered from Refinitiv (Thomson Reuters) and analysed using panel data regression.

The results show that Sharia-compliant companies had a higher sustainability performance in all research periods, but not during the COVID-19 pandemic. This implies that the pandemic has not triggered a need for Sharia-compliant companies to improve their sustainability performance. The results can be interpreted that sustainability performance is not only at stake during the COVID-19 pandemic but it can also indicate a “business-as-usual” approach applied by companies regardless of the Sharia-compliant label.

Sustainability performance has been intensively investigated in prior research, but how it is related to the current health crisis and Sharia compliance has been scantily studied and becomes the originality of this research.