Mahrus Ali, Rahmat Gernowo, Budi Warsito, Faliha Muthmainah
Sharia banks operate in several Muslim-majority countries, offering an alternative financial system aligned with Islamic principles. This study aims to develop a web-based information system for measuring the Maqasid Sharia Index (SMI) in real-time to assess the Islamization level of Sharia banks. Financial data from Indonesian sharia banks before and after their merger in 2021 (January 2013–February 2022) were analyzed. The Markov Switching Autoregressive (MSAR) method, with a margin of error of 0,107, was used to predict SMI values several years into the future. The results indicate that while the SMI value is predicted to decrease by 2025, the financial value of the banks is expected to increase. These findings provide valuable insights for improving the operational effectiveness of Sharia-compliant banking systems. © 2024; Los autores.
Diponegoro University, Doctoral of Information system department, Semarang, Indonesia; Diponegoro University, Physics department, Semarang, Indonesia; Diponegoro University, Statistics department, Semarang, Indonesia; State University of Malang, Psychology department, Malang, Indonesia
Research at a Glance
Register to unlock
Topics & SDG Alignment
Register to unlock
Collaboration
Register to unlock
Author Profile (Selected)
Register to unlock
References Overview
Register to unlock
Journal & Source
Register to unlock
Metadata & Integrity
Register to unlock