Evaluating Muʿāmalah Principles in PSAK 101–106
Between Procedural Compliance and Sharia Ethical Values
DOI:
https://doi.org/10.21154/invest.v6i1.13182Keywords:
mu‘āmalah, islamic ethics, procedural compliance, PSAK 101–106, sharia financial reportAbstract
This study evaluates the extent to which Indonesian Sharia Financial Accounting Standards (PSAK) 101–106 substantively represent the principles of mu‘āmalah or are limited to procedural compliance. The primary objective is to assess the reflection of Islamic ethical values in Islamic financial reporting practices by examining how indicators of fairness, transparency, and maṣlaḥah are articulated in the structure and content of standards. This study adopts a qualitative approach with a document analysis design of PSAK 101–106, complemented by a critical normative analysis using the maqāṣid al-sharīʿah lens and a broader Islamic ethical framework as the basis for the evaluation. The analysis includes an examination of the standard's content, reporting structure, terminology construction, and prescribed implementation mechanisms to identify the relationship between technical compliance and ethical internalization. The findings indicate that the PSAK's structure, format, and reporting mechanisms largely emphasize technical and procedural compliance, while the ethical dimensions of mu‘āmalah are only partially operationalized in the reporting practices. In many cases, Sharia norms appear to function as formal symbols without being accompanied by substantive transformation of ethical values, so that reporting practices are more oriented towards complying with regulations than realizing broader ethical goals. These findings indicate that Indonesian Sharia Financial Accounting Standards (PSAK) 101–106 are still procedural in nature and have not fully embodied the mu ‘āmalah principle’s ethical spirit. Therefore, this study recommends reformulating accounting standards by strengthening ethical disclosures, refining the mu‘āmalah principle, and integrating the maqāṣid al-sharīʿah framework more operationally into the accounting profession.
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