The Impact of Regulations on Risk Management Practices in Islamic Financial Institutions Using a Systematic Literature Review (SLR) Approach
DOI:
https://doi.org/10.61806/al-tatawur.v3i4.91Keywords:
DSN-MUI, OJK, Regulations, Risk Management, Sharia Financial InstitutionsAbstract
The rapid growth of the Islamic finance industry in Indonesia requires the implementation of effective risk management in line with the principles of prudence and sharia compliance. This study aims to systematically identify and synthesize the impact of regulations, both prudential regulations from the Financial Services Authority (OJK) and sharia regulations from the National Sharia Council (DSN-MUI), on risk management practices in Islamic Financial Institutions (LKS). The method used is a Systematic Literature Review (SLR) by searching 219 articles from various international and national academic databases, then selecting 34 relevant articles for in-depth analysis. The results of the review show that regulations have a significant influence in shaping the structure, culture, and effectiveness of risk management in LKS. OJK regulations serve as an external framework that encourages the implementation of Enterprise Risk Management (ERM) to manage eight main types of risk, while DSN-MUI regulations ensure the integration of Sharia Compliance Risk in every financing activity. The synergy between regulations and risk management has been proven to increase financial stability, reduce the Non-Performing Financing (NPF) ratio, and strengthen institutional legitimacy through an increase in Return on Assets (ROA) and Return on Equity (ROE). This study confirms that regulations are not merely a formal compliance instrument, but a strategic foundation for the sustainability and competitive advantage of Islamic financial institutions.
References
Alam, K., Rahman, S. A., Mustafa, H., & Hossain, S. (2019). Shariah governance framework of Islamic banks in Bangladesh: Practices, problems and recommendations. Asian Economic and Financial Review, 9(1), 118–132. https://doi.org/10.18488/journal.aefr.2019.91.118.132
Anggraini, P. D., & Sadewa, M. M. (2024a). Penerapan Manajemen Risiko Perbankan Syariah di Indonesia, Malaysia dan Brunei Darussalam. Indonesian Journal of Applied Accounting and Finance, 4(1), 133–156. https://doi.org/10.31961/ijaaf.v4i1.14352
Anggraini, P. D., & Sadewa, M. M. (2024b). Penerapan Manajemen Risiko Perbankan Syariah di Indonesia, Malaysia dan Brunei Darussalam. Indonesian Journal of Applied Accounting and Finance, 4(1), 133–156. https://doi.org/10.31961/ijaaf.v4i1.14352
Aprilia, S. N., Baidhowi, & Novita, Y. D. (2025). Peran Regulasi Otoritas Jasa Keuangan Dalam Mencegah Praktik Perbankan Abusive Lending Salsabila Nisa Aprilia, Baidhowi, Yustina Dhian Novita. Media Hukum Indonesia (MHI), 2(6), 390–398.
Aqlima Geubrina, Teuku Zulkarnain, & Mariana Mariana. (2025a). Peran Regulasi, Kinerja Keuangan, dan Inovasi Digital dalam Memperkuat Perbankan Syariah di Aceh. Journal of Islamic Management, 5(1), 55–72. https://doi.org/10.15642/jim.v5i1.1960
Aqlima Geubrina, Teuku Zulkarnain, & Mariana Mariana. (2025b). Peran Regulasi, Kinerja Keuangan, dan Inovasi Digital dalam Memperkuat Perbankan Syariah di Aceh. Journal of Islamic Management, 5(1), 55–72. https://doi.org/10.15642/jim.v5i1.1960
Arta, A. , R. Z. F. A. , H. Q. , & N. D. (2024). The Role Of Regulation As A Legal Basis For The Growth Of Islamic Financial Institutions In Indonesia: Opportunities and Challenges. Jurnal Ekonomi Syariah Dan Bisnis, 7(1), 1–13.
Arta, A., Rohmah, Z. F. A., Huda, Q., & Nurrohman, D. (2024). The Role Of Regulation As A Legal Basis For The Growth Of Islamic Financial Institutions In Indonesia: Opportunities and Challenges. Jurnal Ekonomi Syariah Dan Bisnis, 7(1), 1–13. https://doi.org/10.31949/maro.v7i1.5792
Ayu Wandhini, & M. K. (2024). Pengaruh Manajemen Risiko Terhadap Kinerja Keuangan Bank Umum Syariah Periode 2019-2023. NISBAH: Jurnal Perbankan Syariah, 10(2), 199–209.
Ayu Wandhini, & Melia Kusuma. (2024). Pengaruh Manajemen Risiko Terhadap Kinerja Keuangan Bank Umum Syariah Periode 2019-2023. NISBAH: Jurnal Perbankan Syariah, 10(2), 199–209.
Chamidi, A. L. C., Huda, S., Sujianto, A. E., Subagiyo, R., & Asiyah, B. N. (2025). Digital transformation of islamic boarding school-based MSMEs in improving local economic competitiveness: A systematic literature review (SLR). Jurnal Pendidikan Ekonomi (JUPE), 13(3), 200–211. https://doi.org/10.26740/jupe.v13n3.p200-211
Darma, E. S., & Afandi, A. (2021). The Role of Islamic Corporate Governance and Risk Toward Islamic Banking Performance: Evidence from Indonesia. Journal of Accounting and Investment, 22(3), Layouting. https://doi.org/10.18196/jai.v22i3.12339
Fasa, M. I. (2018). MANAJEMEN RESIKO PERBANKAN SYARIAH DI INDONESIA. Li Falah: Jurnal Studi Ekonomi Dan Bisnis Islam, 3, 41–59.
Fauzi, A. H. N., & Maghfiroh, R. U. (2025). DAMPAK MANAJEMEN RISIKO TERHADAP KINERJA KEUANGAN BANK SYARIAH : ANALISIS LITERATUR SISTEMATIS. Publikasi Riset Mahasiswa Manajemen, 7(1).
Hajar, S. , & W. (2023). Implementasi Manajemen Risiko Dalam Dunia Perbankan Syariah . . . Jurnal Ilmiah Wahana Pendidikan, 7(1), 500–513.
Hajar, S., & Wirman. (2023). Implementasi Manajemen Risiko Dalam Dunia Perbankan Syariah Siti Hajar 1 , Wirman 2 1,2 Program Studi Akuntansi Fakultas Ekonomi Universitas. Jurnal Ilmiah Wahana Pendidikan, 9(5), 500–513.
Hamizar, A., Tubalawony, J., & Yaman, A. (2024). Tantangan Regulasi Dan Peluang Manajemen Keuangan Syariah. JICN (Jurnal Intelek Dan Cendekiawan Nusantara, 1(1), 50–62.
Handayani, T., & Abubakar, L. (2022). MSME Empowerment Policy Strategy in Order to Do Accelerating Of the Development Financial Services Ecosystem. RechtIdee, 9, 356–363.
Hasyim M, Kara, M., & Pagalung, G. (2022). Manajemen Risiko Dalam Lembaga Berbasis Syariah. Jurnal Adz-Dzahab: Jurnal Ekonomi Dan Bisnis Islam, 7(2), 188–198. https://doi.org/10.47435/adz-dzahab.v7i2.1123
Hidayati, T., & Hidayatullah, M. S. (2021). Urgensi Fatwa DSN-MUI Mengenai Manajemen Risiko Pembiayaan Berbasis Syariah. Al-Manahij: Jurnal Kajian Hukum Islam, 15(2), 201–220. https://doi.org/10.24090/mnh.v15i2.4641
Hidayatullah, M. S., & Hidayati, T. (2022). Upaya Dinamisasi Sistem dan Soliditas Regulasi dalam Manajemen Risiko Pembiayaan 4.0 pada Perbankan Syariah. Ijtihad : Jurnal Hukum Dan Ekonomi Islam, 16(1), 71. https://doi.org/10.21111/ijtihad.v16i1.7335
Ihyak, M., Segaf, S., & Suprayitno, E. (2023). Enrichment: Journal of Management Risk Management in Islamic Financial Institutions (Literature Review). Enrichment: Journal of Management, 13(2), 1560–1567.
Mahendra Putera, A. , & L. N. F. (2024). Tantangan Dan Peluang Perbankan Syariah Dalam Menghadapi Dinamika Pasar Keuangan Global. Economics and Business Management Journal (EBMJ), 3(2), 444–450.
Mahendra Putera, A., & Laily Nisa, F. (2024). Tantangan Dan Peluang Perbankan Syariah Dalam Menghadapi Dinamika Pasar Keuangan Global. Economics and Business Management Journal (EBMJ), 3(2), 444–450.
Martinus Ahmad, Ahmad Abdul Ghoni, & Wahyuni, S. (2023a). Dampak Fintech Illegal dan Penegakan Hukumnya di Indonesia. Jurnal Hukum Sasana, 9(1), 159–168. https://doi.org/10.31599/sasana.v9i1.2395
Martinus Ahmad, Ahmad Abdul Ghoni, & Wahyuni, S. (2023b). Dampak Fintech Illegal dan Penegakan Hukumnya di Indonesia. Jurnal Hukum Sasana, 9(1), 159–168. https://doi.org/10.31599/sasana.v9i1.2395
Masruki, R., Hanefah, M. M., & Dhar, B. K. (2020). Shariah Governance Practices of Malaysian Islamic Banks in the Light of Shariah Compliance. Asian Journal of Accounting and Governance, 13(May). https://doi.org/10.17576/ajag-2020-13-08
Massaro, M., Dumay, J., & Guthrie, J. (2016). On the shoulders of giants: undertaking a structured literature review in accounting. Accounting, Auditing & Accountability Journal, 29(5), 767–801. https://doi.org/10.1108/AAAJ-01-2015-1939
Mas’ut, M. M. S. , D. A. Y. , U. M. F. (2023). Model Manajemen Resiko pada Lembaga Keuangan Syariah. Indonesian Journal of Humanities and Social Sciences, 4(3), 31.
Mas’ut, Mustofa, M. S., Dianto, A. Y., & Udin, M. F. (2023). Model Manajemen Resiko pada Lembaga Keuangan Syariah. Indonesian Journal of Humanities and Social Sciences, 4(3), 31.
Melinda, E. (2023). Enrichment: Journal of Management Implementation of risk management in murabahah financing at BMT UGT Nusantara Pasuruan. In Enrichment: Journal of Management (Vol. 13, Issue 2).
Melinda, E., & Segaf. (2023). Implementation of risk management in murabahah financing at BMT UGT Nusantara Pasuruan. Enrichment: Journal of Management, 13(2), 914–920.
Mohd Noor, N. H. H., Bakri, M. H., Wan Yusof, W. Y. R., Mohd Noor, N. R. A., & Zainal, N. (2020). The Impact of the Bank Regulation and Supervision on the Efficiency of Islamic Banks. Journal of Asian Finance, Economics and Business, 7(11), 747–757. https://doi.org/10.13106/jafeb.2020.vol7.no11.747
Nafik, A. , A. R. P. , & I. S. M. (2025). Peran Manajemen Resiko Dalam Meminimalisir Resiko Gagal Bayar Pada Produk Keuangan Syariah. Jurnal Ilmiah Ekonomi, Manajemen, Bisnis Dan Akuntansi, 2(3), 95–103.
Nafik, A., Astuti, R. P., & I’lana, S. M. (2025). Peran Manajemen Resiko Dalam Meminimalisir Resiko Gagal Bayar Pada Produk Keuangan Syariah. Jurnal Ilmiah Ekonomi, Manajemen, Bisnis Dan Akuntansi, 2(3), 95–103.
Nastiti, H. M., & Cupian. (2024a). Meninjau Manajemen Risiko dan Tingkat Kesehatan Bank Syariah. Jurnal Ilmiah Ekonomi Islam, 10(2), 2010–2019. https://doi.org/10.29040/jiei.v10i2.13465
Nastiti, H. M., & Cupian, C. (2024b). Meninjau Manajemen Risiko dan Tingkat Kesehatan Bank Syariah. Jurnal Ilmiah Ekonomi Islam, 10(2). https://doi.org/10.29040/jiei.v10i2.13465
Nisa Aprilia, S., & Dhian Novita, Y. (2025). Media Hukum Indonesia (MHI) Peran Regulasi Otoritas Jasa Keuangan Dalam Mencegah Praktik Perbankan Abusive Lending. 2(6), 390–398. https://doi.org/10.5281/zenodo.15548191
NOOR, N. H. H. M., BAKRI, M. H., YUSOF, W. Y. R. W., NOOR, N. R. A. M., & ZAINAL, N. (2020). The Impact of the Bank Regulation and Supervision on the Efficiency of Islamic Banks. The Journal of Asian Finance, Economics and Business, 7(11), 747–757. https://doi.org/10.13106/jafeb.2020.vol7.no11.747
Noory, S. N., Shahimi, S., & Ismail, A. G. (2021). A Systematic Literature Review on the Effects of Risk Management Practices on the Performance of Islamic Banking Institutions. Asian Journal of Accounting and Governance, 6(1), 35. https://doi.org/10.23916/08747011
Puspa Yanti, R., & Iqbal Fasa, M. (2024). IMPLEMENTASI MANAJEMEN RISIKO KEPATUHAN DALAM BANK SYARIAH INDONESIA IMPLEMENTATION OF COMPLIANCE RISK MANAGEMENT IN INDONESIAN SHARIA BANK. https://jicnusantara.com/index.php/jicn
Rahmawati, F., Syahpawi, & Nurnasrina. (2024a). Kajian Yuridis Pengelolaan Manajemen Risiko Pada Perbankan Syariah. MONEY: Journal of Financial and Islamic Banking, 2(1), 69–80.
Rahmawati, F., Syahpawi, S., & Nurnasrina, N. (2024b). Kajian Yuridis Pengelolaan Manajemen Risiko Pada Perbankan Syariah. MONEY: JOURNAL OF FINANCIAL AND ISLAMIC BANKING, 2(1), 69–80. https://doi.org/10.31004/money.v2i1.23805
Rif, M., Syadali, an, Maulana Malik Ibrahim Malang, U., & Al-Yasini Pasuruan, S. (2023). Enrichment: Journal of Management Risk management strategy for the problem of borrowing money for Islamic commercial banks. In Enrichment: Journal of Management (Vol. 13, Issue 2).
Rohmah, U. , H. N. A. , & A. R. P. (2025). Regulasi Dan Pengawasan Perbankan Oleh Otoritas Jasa Keuangan. . . Jurnal Penelitian Nusantara, 1, 314–319.
Rohmah, U., Hasanah, N. A., & Astuti, R. P. (2025). Regulasi Dan Pengawasan Perbankan Oleh Otoritas Jasa Keuangan. Jurnal Penelitian Nusantara, 1(Perbankan), 314–319.
Sudanto. (2024a). Penerapan Manajemen Risiko Sebagai Upaya Pencegahan Pembiayaan Bermasalah Pada Bank Syariah. INNOVATIVE: Journal Of Social Science Research, 3(6), 1228–1230.
Sudanto. (2024b). Penerapan Manajemen Risiko Sebagai Upaya Pencegahan Pembiayaan Bermasalah Pada Bank Syariah. INNOVATIVE: Journal Of Social Science Research, 3(6), 12288–12300.
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.
Suharto, T. (2022a). KONSEP PENERAPAN MANAJEMEN RISIKO HUKUM (LEGAL RISK) PADA LEMBAGA KEUANGAN DAN PERBANKAN SYARIAH DI INDONESIA. Jurnal Ilmiah Hospitality, 11(1), 269–280. https://doi.org/10.47492/jih.v11i1.1610
Suharto, T. (2022b). Konsep Penerapan Manajemen Risiko Hukum (Legal Risk) Pada Lembaga Keuangan dan Perbankan Syariah di Indonesia. Jurnal Hospitality, 11(1), 269–270.
Sulistyowati, Rahayu, Y. S., & Naja, C. D. (2023). Application of Artificial Intelligence as Innovation in the Era of Disruption in Reducing the Risks of Sharia Microfinance Institutions. Wadiah: Jurnal Perbankan Syariah, 7(2), 117.
Syadali, M., Segaf, & Parmujianto. (2023). Enrichment: Journal of Management Risk management strategy for the problem of borrowing money for Islamic commercial banks. Enrichment: Journal of Management, 13(2), 1227–1236.
Wafi, I., Akhmadi, F., Ngasifudin, M., & Nurfauzi, Y. (2024). Dampak Penerapan Ekonomi Syariah terhadap Kinerja Keuangan Bank Syariah di Indonesia. LABATILA: Jurnal Ilmu Ekonomi Islam, 8(02), 143–159. https://doi.org/10.33507/lab.v8i02.2572
Wahyudi, I. (2024a). Manajemen Risiko Terhadap Praktik Akad Hybrid Pada Pembiayaan UMKM di Indonesia Melalui Digitalisasi Perbankan Syariah. Moderasi : Journal of Islamic Studies, 5(1), 303–316. https://doi.org/10.54471/moderasi.v5i1.115
Wahyudi, I. (2024b). Manajemen Risiko Terhadap Praktik Akad Hybrid Pada Pembiayaan UMKM di Indonesia Melalui Digitalisasi Perbankan Syariah. Moderasi : Journal of Islamic Studies, 5(1), 303–316. https://doi.org/10.54471/moderasi.v5i1.115
Yanti, R. P., & Iqbal, M. (2024). Implementasi Manajemen Risiko Kepatuhan Dalam Bank Syariah Indonesia Implementation of Compliance Risk Management in Indonesian Sharia Bank. Jurnal Intelek Dan Cendikiawan Nusantara, 1(November), 7148–7161.
Yusuf, A. M. (2017). Metode Penelitian: Kuntitatif, Kualitatif, dan Penelitian Gabungan. Kencana.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Al-Tatawur: International journal of Social Science
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
