Contribution of Good Governance Principles to Strengthening Zakat Management in Indonesia: Confirmatory Factor Analysis International Journal of Zakat | ISSN: 2548 2335 | Vol. 3 (3) 2018
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Nov 25, 2018
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Abstract
Good governance is a crucial issue in strengthening the performance of zakat institutions. This research aims to elaborate good governance from the perspective of Islam and analyze the factors contributing to good corporate governance in a number of zakat institutions in Indonesia. Confirmatory Factor Analysis (CFA) is employed to measure the contribution of each indicator to the five principles of good governance in zakat institutions, namely transparency, accountability, responsibility, independence, and fairness. With the assistance of Partial Least Squares (PLS) version 3 it is shown that the principle of transparency contributes 60.4%; the principle of accountability 4.82%; the principle of responsibility 6.41%; and the principle of independence 53.3%. Therefore, it can be concluded that good governance in zakat institutions has been well implemented in some aspects but has not yet been implemented comprehensively. This research is significant in that it contributes guidelines on zakat management, provides teaching materials for higher education, and serves as a reference for the formulation of policies and regulations related to the standardization of good governance in zakat institutions.
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Tahliani, H. (2018, November 25). Contribution of Good Governance Principles to Strengthening Zakat Management in Indonesia: Confirmatory Factor Analysis. International Journal of Zakat, 3(3), 39-54. https://doi.org/https://doi.org/10.37706/ijaz.v3i3.94
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Wahab, N. A., & Abdul Rahim, A. R. (2011). A framework to analyse the efficiency and governance of zakat institutions. Journal of Islamic Accounting and Business Research, 2(1), 43-62.
Abu-Tapanjeh, A. M. (2009). Corporate governance from the Islamic perspective: A comparative analysis with OECD principles. Critical Perspectives on accounting, 20(5), 556-567.
Bariyah, N. O. (2010). Kontekstualisasi Total Quality Management Dalam Lembaga Pengelola Zakat Untuk Pemberdayaan Ekonomi Masyarakat (Prinsip dan Praktik). Disertasi: SPS UIN Jakarta.
Beik, I. S. (2009). Analisis Peran Zakat dalam Mengurangi Kemiskinan: Studi Kasus Dompet Dhuafa Republika. Jurnal Zakat & Empowering, Pemikiran dan Gagasan, II(hlm.10).
Bhatti, M., & Bhatti, I. (2009). Development in legal issues of corporate governance in Islamic Finance. Journal of Economic & Administrative Sciences, 25(1), 67-91. http://www.emeraldinsight.com/doi/abs/10.1108/10264116200900004
Bhatti, M., & Bhatti, M. I. (2010). Toward understanding Islamic corporate governance issues in Islamic finance. Asian Politics & Policy, 2(1), 25-38.
Chapra, M. U., & Habib, A. (2002). Islamic governance in Islamic financial institutions. Jeddah: IRTI IDB, pp. 50-71.
Grais, W., & Pellegrini, M. (2006). Corporate governance in institutions offering Islamic financial services: Issues and options. World Bank Policy Research Working Paper 4052, November 2006.
Harrington, D. (2009). Confirmatory factor analysis. Oxford: Oxford University Press.
Hasan, Z. (2009). Corporate governance: Western and Islamic perspectives. International Review of Business Research Paper, 5(1), 277-293. https://www.bizresearchpapers.com/attachments_2009_01_13/23.Zulkipli.pdf
Hermawan, A. (2003). Pedoman Praktis Metodologi Penelitian Bisnis. Jakarta: LPFE Trisakti.
Issyam, M., Hasan, R. bt, & Alhabshi, S. M. (2016). Sharia governance framework for Islamic co-operatives as an integral social institution in Malaysia. Intellectual Discourse Journal, Special Issue, 2016, 477-500. Retrieved from: https://search.proquest.com/openview/7301707d8c3bafef85c730cb9a65b312/1?pq-origsite=gscholar&cbl=826340
Jahar, A. S.(2008). Zakat antar bangsa Muslim: Menimbang posisi realistis pemerintah dan organisasi masyarakat sipil. Jurnal Zakat & Empowering, Pemikiran dan Gagasan, 1(4), hlm.16.
Kaslam, S. (2011). Governing zakat as a social institution: The Malaysian perspective. International Journal of Governance, 1(2), 282-294.
Lewis, M. K. (2006). “Accountability and Islam”, Conference Paper presented at Fourth International Conference on Accounting and Finance in Transition Adelaide, April 10-12, 2006.
Mansoer, M. (2009). Statistik sosial. Jakarta: Ushul Press.
Mansoor, K. M., & Bhatti, I. M. (2008). Development in Islamic banking: a financial risk-allocation approach. The Journal of Risk Finance, 9(1), 40-51.
Pedoman Umum Good Corporate Governance di Indonesia, dikeluarkan oleh Komite Nasional Kebijakan Governance (KNKG), 2006.
Peraturan Bank Indonesia No. 11/33/PBI/2009 Tentang Pelaksanaan Good Corporate Governance Bagi Bank Umum Syariah Dan Unit Usaha Syariah Pasal 1 ayat 10.
Ramli, N. M., & Muhamed, N. A. (2013). Good governance framework for corporate waqf towards accountability enhancement. Proceeding of World Universities Islamic Philanthropy Conference 2013. Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2437260
Safieddine, A. (2009). Islamic financial institutions and corporate governance: New insights for agency theory. Corporate Governance: An International Review, 17(2), 142-158.
Samra, E. (2016). Corporate governance in Islamic financial institutions.
Sarwono, J., & Narimawati, U. (2015). Membuat Skripsi, Tesis dan Disertasi Partial Least Square SEM. Yogyakarta: CV. Andi Yogyakarta.
Sedarmayanti. (2007). Good Governance (Kepemerintahan yang Baik) dan Good Corporate Governance (Tata Kelola Perusahaan Yang Baik.). Bandung: CV. Mandar Maju.
Siddiqi, S., Masud, T. I., Nishtar, S., Peters, D. H., Sabri, B., Bile, K. M., & Jama, M. A. (2009). Framework for assessing governance of the health system in developing countries: Gateway to good governance. Health policy, 90(1), 13-25.
Sudibyo, B. (2016). Zakat Dapat Jadi Pilar Terbangunnya Martabat Umat, dalam Artikel Majalah Mulia, Edisi Februari 2016.
Sundararajan, V., & Errico, L. (2002). Islamic financial institutions and products in the global financial system: Key issues in risk management and challenges ahead (Vol. 2). International Monetary Fund.
Undang-Undang No. 23 Tahun 2011 tentang Pengelolaan Zakat.
Undang-Undang No. 38 Tahun 1999 tentang Pengelolaan Zakat.
Wahab, N. A., & Abdul Rahim, A. R. (2011). A framework to analyse the efficiency and governance of zakat institutions. Journal of Islamic Accounting and Business Research, 2(1), 43-62. Retrieved from: http://www.emeraldinsight.com/doi/abs/10.1108/17590811111129508
Wahab, N. A., & Abdul Rahim, A. R. (2011). A framework to analyse the efficiency and governance of zakat institutions. Journal of Islamic Accounting and Business Research, 2(1), 43-62.