This study aims to determine items with Islamic elements to develop an Islamic social enterprise management index (ISEMI). An Islamic social enterprise (ISE) works by managing operations within the principles of shari‘ah to redistribute wealth and reduce poverty which is supported by a similar study by Indah and Hakim (2023). The design and method for this study involved three phases of analysis which are 1) general descriptive analysis, 2) validity and reliability analysis, and 3) data analysis phase of the study. In all, 40 items with Islamic traits were identified and analyzed. Three identifiable themes emerged, which were then labeled as: 1) God; 2) humanity, and 3) nature. Because of the limited sample size, the data offers results that are likely suggestive rather than conclusive. The study offers a practical single-figure-summary indicator to measure and evaluate ISEs and has the potential as a guideline for Muslim entrepreneurs to build favorable relationships with ISE management. The novelty of the ISEMI is in its unique construction of items embedded with Islamic factors. It could thus assist in the management of ISE to ensure they fulfill the principles of the shari‘ah (Islamic law) and stakeholders‘ expectations.

The publication of this book is timely for the industry players and regulators to understand the mechanics and good practices of Shariah governance and assurance to manage the Islamic banks and financial institutions in accordance with Shariah principles or the maqasid Shariah. It is hoped that this book would aid students in their quality learning effort towards successful preparation of their examination. As this textbook provides comprehensive knowledge in the area of Governance and Shariah Audit in IFIs, it will prepare the students as Shariah Auditors in IFIs, accounting and auditing firms and corporations.