Accountability of Micro Waqf Banks in The Perspective of Sharia Enterprise Theory

Abstract

This study aims to analyze the Accountability of the management based on Sharia Enterprise Theory at Islamic Boarding School-based Micro Waqf Banks in Jombang. This research uses the field research type and a descriptive qualitative approach—data collection techniques through observation, interviews, and documentation. The results of this study indicate that the Islamic Boarding School-based Micro Waqf Bank in Jombang has implemented accountability indicators based on Sharia Enterprise Theory, namely vertical Accountability to Allah SWT and Horizontal Accountability to customers by having DPS that is MUI certified and there are no transactions that are not by Sharia. However, Micro Waqf Banks still need to fulfill horizontal Accountability to customers on the ZIS Report indicators. Micro Waqf Banks have fulfilled Horizontal Accountability for employees with employee education and training. However, the Micro Waqf Bank has not met the salary and remuneration for employees according to the minimum wage and does not have special programs to improve employee spirituality. Micro Waqf Banks have fulfilled Horizontal Accountability to the community/society through broad community access to Micro Waqf Bank financing and contributions to MSME Development and improving the community's quality of life through economic empowerment. However, the Micro Waqf Bank does not yet have disclosure of social funds. Micro Waqf Banks have fulfilled Horizontal Accountability towards indirect stakeholders, namely nature/environment with household-scale customers, so it is less likely to pollute the environment.