Maqāṣid Sharī'ah Implementation, Reciprocity, and Trust as Determinants of Member Satisfaction in Islamic Financial Cooperatives
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This study examines the extent to which maqāṣid sharī‘ah indicators serve as valid and reliable measurements of Islamic cooperative member satisfaction, while simultaneously applying Social Exchange Theory (SET) to explicate the relational dynamics among reciprocity, trust, and satisfaction within Islamic cooperative contexts. A quantitative design was adopted, employing a two-stage reflective-reflective Partial Least Squares Structural Equation Modeling (PLS-SEM) procedure. Data were obtained from 247 valid respondents affiliated with nine Islamic financial cooperatives distributed across six Indonesian provinces and were subsequently processed using SmartPLS software. The first analytical stage confirmed that the five lower-order constructs of maqāṣid sharī‘ah, encompassing Religion, Life, Intellect, Lineage, and Wealth, constituted valid and reliable measurements of the higher-order construct. The second stage demonstrated that maqāṣid sharī‘ah, together with reciprocity and trust, exerted a statistically significant and positive influence on member satisfaction. The findings advance empirical understanding of SET within Islamic cooperative governance and establish maqāṣid sharī‘ah as an actionable measurement framework for evaluating institutional performance from an Islamic perspective. Future research is encouraged to replicate this model in non-Islamic cooperative settings, expand the geographical scope across Muslim-majority nations, and investigate longitudinal effects of maqāṣid-based institutional governance on organizational sustainability.
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