Islamic Ethics-Based Governance Model in Trust Fund Management at BMT
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Abstract
The development of the Islamic economy in Indonesia shows significant growth with total Islamic banking assets reaching more than 600 trillion rupiah in 2023, but the operational complexity of BMT in managing trust funds requires a governance system that integrates Islamic ethical principles with modern governance practices. This research aims to develop and analyze a comprehensive governance model based on Islamic ethics in the management of trust funds at BMT to improve accountability, transparency, and operational sustainability. The research method uses a qualitative approach with literature studies, analyzing the Qur'an, Hadith, fiqh muamalah literature, and scientific journals for the 2015-2024 period through content analysis and thematic analysis. The results of the study identified an integrated governance model that includes four essential components: shura-based organizational structure, business processes according to sharia contracts, a hikah supervision system, and risk management that integrates tawakal-ikhtiar, with sharia-based KPIs including sharia compliance, social impact, and community empowerment. The research concludes that the implementation of an Islamic ethics-based governance model requires a gradual change management strategy, continuous capacity building, and comprehensive regulatory support to achieve competitive advantage through the differentiation of Islamic values in BMT operations.
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References
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