Kontekstualisasi Islamic corporate governance di BMT Pesantren Nurul Hakim, Kediri, Lombok Barat

Abstract

The implementation of Islamic Corporate Governance (ICG) is essential for ensuring transparent, accountable, and Sharia-compliant governance within Islamic microfinance institutions. This study aims to analyze the implementation of Islamic Corporate Governance at Baitul Maal wat Tamwil (BMT) Pondok Pesantren Nurul Hakim, Kediri, West Lombok, and to identify the challenges and strategies for strengthening its governance practices. The study employed a descriptive qualitative approach using library research combined with document analysis. Data were collected from secondary sources, including scientific journals, books, regulations, official institutional reports, and organizational documents, which were analyzed using thematic content analysis. The findings indicate that the implementation of ICG at BMT Pondok Pesantren Nurul Hakim reflects the fundamental principles of Islamic governance through its organizational structure, the role of the Sharia Supervisory Board, the application of Sharia contracts, reporting mechanisms to members, and ongoing digitalization initiatives. Nevertheless, its implementation continues to face several challenges, including limited human resource competencies, the need to harmonize pesantren values with professional governance practices, dual compliance requirements, limited Islamic financial literacy, and inadequate supporting infrastructure. Strengthening ICG therefore requires improving human resource capacity, enhancing the effectiveness of the Sharia Supervisory Board, developing integrated information systems, and establishing governance guidelines rooted in pesantren values. This study contributes to the development of the Islamic Corporate Governance literature within pesantren-based Islamic microfinance institutions and provides practical insights for BMT managers and policymakers in strengthening sustainable Sharia governance.