Financial Health Analysis of Ibnu Affan Thailand Islamic Cooperative: Capital Aspect
DOI:
https://doi.org/10.24252/lamaisyir.v13i1.61246Keywords:
Islamic Cooperative, Financial Health Assessment, Capital Adequacy Ratio, Sharia ComplianceAbstract
Islamic cooperatives play an important role in expanding financial inclusion for Muslim communities. However, Islamic cooperatives in Thailand lack standardized Sharia-compliant frameworks for assessing financial health, limiting objective risk evaluation. This study assesses the financial health of the Ibnu Affan Islamic Cooperative in Thailand from the capital perspective using the Indonesian Regulation of the Deputy Minister of Supervision of the Ministry of Cooperatives and SMEs No. 07/Per/Dep.6/IV/2016. A descriptive quantitative approach was employed using financial statement data from 13 cooperative branches covering the period 2019–2022. Capital adequacy was evaluated through financial ratio analysis based on the prescribed regulatory indicators. The findings show that the capital-to-total-assets ratio consistently ranged from 30% to 33%, placing the cooperative in the Healthy category throughout the observation period. In addition, the Capital Adequacy Ratio (CAR) remained well above the minimum regulatory requirement of 8%, although it gradually declined from 69.64% to 57.37%. These findings indicate that the Indonesian financial health assessment framework provides a practical and reliable reference for evaluating the capital performance of Islamic cooperatives operating in non-regulatory contexts such as Thailand.
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