Determinants of Zakah Disclosure Level: Evidence for Indonesia

Öz

Accounting standard regulates the critical points of zakah disclosure in Islamic banking, but the voluntary disclosure has not been conducted by Islamic Banks. The determinants of zakah disclosure level for those banks are important to consider because zakah management in Indonesia has not been conducted optimally. Unfortunately, previous studies have not investigated the issue. This study has two objectives: to evaluate zakah disclosure level in Islamic Banks in Indonesia and to analyze the determinants of zakah disclosure level. This study measured the Shariah Supervisory Board using Islamic Governance (IG)-Score and the proportion of the Investment Account Holder (IAH) funds. The model then was controlled by the variables of bank size and leverage. The IG-score was measured using five indicators: the existence of SSB, the number of SSB members, cross-memberships, doctoral qualification of SSB members, and reputable scholars on SSB. The population was all public Islamic Banks in Indonesia, and the samples were collected using purposive sampling from the annual reports of the banks in the period of 2012-2016. Regression analysis and t-test were conducted to test the hypotheses and zakah disclosure level before and after revised PSAK 101 in 2014.

The result of this study indicated that the zakah disclosure level of the Islamic banks was quite high with an average of 67%. Most of the disclosures were still limited to the existing rules required (mandatory disclosures). The t-test result indicated that zakah disclosure levels of 2014 and 2015 (implementation of revised PSAK 101 in 2014) were significantly different. As an interesting point, both Shariah Supervisory Board and the proportion of Investment Account Holder (IAH) funds significantly improved zakah disclosure level.

Anahtar Kelimeler

• Zakah,Disclosure,Shariah Supervisory,Investment Account

Destekleyen Kurum

Islamic University of Indonesia

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