Islamic Balanced Scorecard Model for Measuring Sustainability Performance of Islamic Microfinance Institutions
DOI:
https://doi.org/10.64803/cessmuds.v1.151Keywords:
Islamic Microfinance Institutions (IMFI), Islamic Balanced Scorecard, Maqashid Shariah, Sustainability, SEM-PLSAbstract
Keberlanjutan Lembaga Keuangan Mikro Syariah (LKMS) di Indonesia saat ini menghadapi tantangan kompleks, ditandai dengan tingginya rasio Biaya Operasional terhadap Pendapatan Operasional (BOPO) dan risiko pembiayaan bermasalah (Non-Performing Financing/NPF). Evaluasi kinerja konvensional berbasis Balanced Scorecard (BSC) standar cenderung bias kapitalistik karena menitikberatkan maksimalisasi profit dan mengabaikan misi sosial-keagamaan organisasi. Penelitian ini bertujuan untuk merekonstruksi, memvalidasi, dan menguji model Islamic Balanced Scorecard (I-BSC) sebagai instrumen holistik dalam mengukur kinerja keberlanjutan LKMS di Indonesia. Menggunakan desain metode campuran sekuensial eksploratori, penelitian ini menempatkan pendekatan kuantitatif sebagai arus utama. Data primer dikumpulkan melalui kuesioner berskala Likert 1–5 dari pengelola LKMS dan dianalisis menggunakan teknik Variance-Based Structural Equation Modeling (SEM-PLS) melalui perangkat lunak SmartPLS. Model akhir yang dibangun mengintegrasikan lima perspektif: Pembelajaran & Pertumbuhan, Proses Bisnis Internal, Nasabah & Kemitraan, Finansial Keberlanjutan, serta Maqashid Syariah & Keadilan Sosial sebagai tujuan akhir tertinggi (ultimate goal). Hasil evaluasi outer model menunjukkan metrik yang sangat superior dengan nilai Composite Reliability (CR) di atas 0,90 dan AVE melebihi 0,50. Uji struktural inner model membuktikan seluruh jalur hubungan sebab-akibat bernilai positif dan signifikan, di mana kinerja finansial memiliki pengaruh dominan terhadap perwujudan Maqashid Syariah (β = 0,634; t = 8,952$). Temuan ini menolak mitos pertentangan kepentingan (trade-off) antara misi komersial dan sosial, serta membuktikan bahwa keduanya bergerak selaras membentuk lingkaran kebajikan (virtuous cycle). Implikasi praktis penelitian ini memberikan instrumen evaluasi strategis bagi pengelola dan regulator untuk menjaga keberlanjutan institusi tanpa mereduksi nilai-nilai kesyariahan.
References
Al-Ghazali, A. M., & Ridhwan, M. (2023). Redefining Maqashid Shariah for contemporary Islamic microfinance performance measurement. Journal of Islamic Accounting and Business Research, 14(3), 412–429. https://doi.org/10.1108/JIABR-04-2022-0115
Asrori, A., & Triyuwono, I. (2021). Deconstructing the Balanced Scorecard for Islamic financial institutions: A stakeholder theory approach. International Journal of Islamic and Middle Eastern Finance and Management, 14(5), 982–1001. https://doi.org/10.1108/IMEFM-08-2020-0411
Budiman, A., & Huda, N. (2024). Financial sustainability versus social mission: Evaluating mission drift in Indonesian Baitul Maal wat Tamwil (BMT). Islamic Economic Studies, 31(2), 145–163. https://doi.org/10.1108/IES-10-2023-0042
Fikri, M. A., & Shinkafi, A. A. (2022). Resource-Based View and spiritual capital: Sustaining competitive advantage in shariah-compliant micro-banking. Journal of King Abdulaziz University: Islamic Economics, 35(1), 55–74. https://doi.org/10.4197/Islec.35-1.4
Hasan, M., & Lewis, M. K. (2020). Islamic microfinance: Shariah compliance, performance, and sustainability. Routledge. https://doi.org/10.4324/9781003024881
Nugroho, L., & Badawi, A. (2025). Digital transformation in Islamic microfinance institutions: A structural equation modeling approach on operational efficiency. Indonesian Journal of Sustainability Accounting and Management, 9(1), 88–105. https://doi.org/10.28992/ijsam.v9i1.844
Prasetyo, E., & Wibowo, S. (2022). Integrating green microfinance into the Islamic Balanced Scorecard: An empirical framework for rural banks in Indonesia. Proceedings of the International Conference on Islamic Economics and Finance (ICIEF), 7, 230–245. https://doi.org/10.5220/0011324500003421
Rahman, R. A., & SM, S. (2019). Shariah governance structure and its impact on the sustainability performance of Islamic microfinance institutions. Journal of Islamic Finance, 8(2), 12–25. https://doi.org/10.31436/jif.v8i2.341
Widiastuti, T., Robani, A., & Mawardi, I. (2023). Evaluating the impact of ZISWAF productive empowerment programs through Maqashid Shariah index. Journal of Islamic Monetary Economics and Finance, 9(2), 275–296. https://doi.org/10.21098/jimf.v9i2.1582
Zubair, M., & Khan, M. A. (2021). Testing the causal links of an Islamic Balanced Scorecard using PLS-SEM: Evidence from micro-equity finances. International Journal of Bank Marketing, 39(6), 1120–1142. https://doi.org/10.1108/IJBM-11-2020-0567
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Ali Topan Lubis (Author)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
