DINAMIKA PENERAPAN GOOD CORPORATE GOVERNANCE (GCG) DAN ETIKA BISNIS ISLAM DALAM MENCEGAH RISIKO MORAL HAZARD

This study aims to explore the dynamics of implementing Good Corporate Governance (GCG) and Islamic business ethics in mitigating and preventing moral hazard risks within Islamic financial institutions. Amidst the complexity of the modern financial industry, practices of abuse of authority and information asymmetry between management and stakeholders remain a serious threat to institutional health. Employing a qualitative approach with a case study method, data collection was conducted through in-depth interviews, participant observation, and documentation studies of management governance. The results indicate that the integration of GCG pillars (transparency, accountability, responsibility, independence, and fairness) combined with the internalization of Islamic business ethics values—such as shiddiq (truthfulness), amanah (trustworthiness), fathonah (wisdom/intelligence), and tabligh (communication)—establishes a strong moral bulwark for managers. This internalization of spiritual values fosters the awareness that ultimate supervision is not merely administrative oversight by regulators, but also stems from religious awareness (muraqabah). This study recommends strengthening a sustainable sharia-based organizational culture to preemptively minimize the gaps for moral hazard.