Determinants of Zakah Disclosure Level: Evidence for Indonesia

Yıl 2019, Cilt: 5 Sayı: 3, 16 - 27, 30.11.2019

Hadri Kusuma

https://doi.org/10.25272/ijisef.583662

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

Kaynakça

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