SHARIA MAQASHID INDEX: A COMPREHENSIVE EVALUATION OF THE PERFORMANCE OF ISLAMIC BANKS IN INDONESIA AT THE PEAK OF THE COVID-19 PANDEMIC

Abstract

The impact of the Covid-19 pandemic has hindered activities across various sectors, including Islamic banks. For Islamic banks themselves, there are specific objectives that need to be achieved, namely maqashid syariah, which poses its own challenges for Islamic banks to achieve amidst the obstacles of the Covid-19 pandemic. In this situation, these banks are faced with the need to innovate and take steps to minimize risks while maintaining their positions amidst diverse challenges to achieve their maqashid syariah objectives. This research aims to analyze the performance of the biggest Islamic banks in Indonesia based on assets, which ranks third in the Group of Banks based on Core Capital (KBMI) during the peak of the Covid-19 pandemic, using the Sharia Maqashid Index (MSI) perspective. The research method used is a descriptive quantitative method using data from annual reports obtained from official Islamic bank websites. The Simple Additive Weighting (SAW) calculation method is used to analyze the data. The research results show an improvement in the performance of Bank Syariah Indonesia in achieving the three objectives of Maqashid Syariah from 2021 to 2022 by 0.583%.