Purpose

The purpose of this paper is to suggest a model that yields a sustainability performance index for Islamic banks (IBs). This index is expected to account for stakeholders’ viewpoints while considering sustainability and Maqasid Al-Shariah as bases.

Design/methodology/approach

First, based on the relevant literature review refined through consultations with academic, banking and Shariah experts, the main stakeholders and their corresponding lists of relevant attributes and sub-attributes are identified. Then, adopting a multi-attribute utility approach and based on a second step of interviews with experts, an aggregated index is suggested. Finally, the developed index is applied to five famous Islamic banking groups over the period 2005–2019.

Findings

Empirical evidence shows that the banks used in the implementation do not achieve high scores of the suggested index. This can be interpreted through a lack of Islamic normative aspects and low adherence to sustainability practices. Specifically, they are not functioning on a justice basis and are deficient in providing sufficient varieties of Islamic products. They are also more interested in economic sustainability and are not involved in environmental and social ones.

Originality/value

The developed index not only considers the compliance of the banking activities with Shariah, but it also addresses their sustainability from the main stakeholders’ perspectives. The suggested model provides a transparent performance evaluation tool for IBs omitting all causes of conflict of interests and certifies the fairness of the resulting assessments.

中文翻译：

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致力于发展伊斯兰银行业可持续发展绩效指数

目的

本文的目的是提出一个模型，该模型可以为伊斯兰银行 (IB) 生成可持续发展绩效指数。该指数预计将考虑利益相关者的观点，同时将可持续性和 Maqasid Al-Shariah 视为基础。

设计/方法/途径

首先，根据通过与学术界、银行业和伊斯兰教法专家协商提炼的相关文献综述，确定主要利益相关者及其相应的相关属性和子属性列表。然后，采用多属性效用方法，并在第二步专家访谈的基础上，提出了一个综合指数。最后，将开发的指数应用于 2005 年至 2019 年期间五个著名的伊斯兰银行集团。

发现

经验证据表明，实施中使用的银行没有达到建议指数的高分。这可以通过缺乏伊斯兰规范方面和对可持续性实践的低遵守来解释。具体来说，它们没有在公正的基础上运作，也没有提供足够种类的伊斯兰产品。他们也对经济可持续性更感兴趣，而不是参与环境和社会问题。

原创性/价值

制定的指数不仅考虑了银行活动对伊斯兰教法的遵守情况，而且还从主要利益相关者的角度解决了它们的可持续性问题。建议的模型为 IB 提供了一个透明的绩效评估工具，忽略了所有利益冲突的原因，并证明了评估结果的公平性。