The Influence of Islamic Corporate Social Responsibility (ICSR) and banking zakat on the financial performance of islamic commercial banks in Indonesia (2020-2023 period)
DOI:
https://doi.org/10.52465/josre.v4i2.29Abstract
This study examines the influence of Islamic Corporate Social Responsibility (ICSR) and corporate zakat on the financial performance of Islamic Commercial Banks in Indonesia during 2020–2023. Islamic banks are expected not only to achieve financial objectives but also to fulfill social responsibilities based on Islamic principles. This research employed a quantitative approach using secondary data from annual reports and financial statements of Islamic Commercial Banks registered with the Financial Services Authority (OJK). The sample consisted of eight banks selected through purposive sampling, resulting in 32 observations. Financial performance was measured using Return on Equity (ROE), while ICSR was measured using the Islamic Social Reporting (ISR) Index and corporate zakat based on the amount distributed by each bank. The data were analyzed using multiple linear regression. The results indicate that ICSR and corporate zakat simultaneously have a positive and significant effect on financial performance. Partial test results show that both variables positively and significantly influence financial performance. These findings suggest that social responsibility practices and zakat management can improve the financial sustainability of Islamic banks in Indonesia.
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