| dc.description.abstract | Purpose – The purpose of this study include analyzing the conformity between the General Guidelines for
the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in the field and
proposing a model of corporate governance for Islamic property developers.
Design/methodology/approach – This research uses a qualitative method with a case study approach.
The researcher used a structured interview method and chose a purposive technique to determine the
interviewees. This study has seven interviewees representing three Islamic property developer companies in
Jember Regency, East Java, Indonesia. Data collection was conducted from June to July 2023, with a duration
of about 60 min for each interviewee. The interviews were conducted face-to-face in each interviewee’s
residential office.
Findings – The results showed that the companies had implemented several principles of GGG-ISE,
namely, ethical and responsible actors, risk management, internal control, compliance, disclosure and
transparency by making financial reports, shareholder rights and stakeholder rights, both internal and
external stakeholders. Furthermore, this study found that GGG-ISE does not comply with the components of
the organizing organ group. This study also found that governance reports have not been implemented in
GGG-ISE components. In addition, this study identified a new component that must be present and not found
in GGG-ISE, namely, a statement of the use of contracts for mudharib owners and between mudharib owners
and stakeholders. Based on these findings, this study proposes a governance model for Islamic property
developer companies called the GGG-IPDE.
Originality/value – This research is a pioneer in proposing a corporate governance model for Islamic
property developers. | en_US |
