{"title":"Performance assessment of participation banks based on Maqasid al-Shari'ah framework: Evidence from Türkiye","authors":"H. Şaduman Okumuş","doi":"10.1016/j.bir.2024.04.011","DOIUrl":null,"url":null,"abstract":"<div><p>In a dual banking system, participation banks (PBs) are expected to follow Islamic principles, morals, and ethical norms, all of which ultimately align with Maqasid al-Sharia'ah (MS). This study aimed to assess performance of PBs in Türkiye beyond traditional yardsticks to accentuate their ethical, social, and financial roles compliant with the axioms of MS. A mixed method deploying qualitative and quantitative inquiry was used. The first stage used text mining, and the second stage developed the MS Performance Index (MSPI) by adopting entropy weights based on the Ghazalian perspective. The datasets were derived from 18 reports for 2019–2021. Türkiye Finans appeared to have the highest score, whereas Ziraat received the lowest on MSPI scores. PBs achieved the highest scores for the wealth objective component and the lowest score for the intellect component because they became market-oriented and thus their disclosures did not support and promote MS.</p></div>","PeriodicalId":46690,"journal":{"name":"Borsa Istanbul Review","volume":null,"pages":null},"PeriodicalIF":6.3000,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214845024000747/pdfft?md5=fd25b0b968fa6c554d0b7dd456b1b180&pid=1-s2.0-S2214845024000747-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Borsa Istanbul Review","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214845024000747","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
In a dual banking system, participation banks (PBs) are expected to follow Islamic principles, morals, and ethical norms, all of which ultimately align with Maqasid al-Sharia'ah (MS). This study aimed to assess performance of PBs in Türkiye beyond traditional yardsticks to accentuate their ethical, social, and financial roles compliant with the axioms of MS. A mixed method deploying qualitative and quantitative inquiry was used. The first stage used text mining, and the second stage developed the MS Performance Index (MSPI) by adopting entropy weights based on the Ghazalian perspective. The datasets were derived from 18 reports for 2019–2021. Türkiye Finans appeared to have the highest score, whereas Ziraat received the lowest on MSPI scores. PBs achieved the highest scores for the wealth objective component and the lowest score for the intellect component because they became market-oriented and thus their disclosures did not support and promote MS.
期刊介绍：
Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations
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