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From Vision to Practice: Comparative Dynamics of Islamic Economics in Indonesia and Malaysia sumarni sumarni; Ahmad rezy meidina; Andifa Dwi Fani; Nissa Ayu Marliana; Ikhdan Gimas Shufyansyah
Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi Dan Keagamaan Vol 12, No 2 (2025): October
Publisher : Faculty of Sharia (Islamic Law) at Fatmawati Sukarno State Islamic University Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29300/mzn.v12i2.7685

Abstract

This paper aims to compare the development of Islamic economics in Indonesia and Malaysia, with emphasis on the banking sector as the core pillar. The study employs a descriptive-analytical method and a juridical-normative approach, analysing secondary data from official reports (OJK, Bank Negara Malaysia, IFSB), regulatory documents (Law No. 21/2008; Islamic Banking Act 1983; IFSA 2013), and peer-reviewed literature (2010–2023). Findings show that Indonesia’s Islamic banking assets grew by 13% in 2021, supported by digitalisation and market-driven strategies, though financial literacy remains low (below 40%). Malaysia, by contrast, records a 30% share of Islamic banking assets nationally and dominates the global sukuk market, strengthened by comprehensive regulation and the Shariah Advisory Council. The results imply that Indonesia must enhance literacy and financial inclusion, while Malaysia should innovate further to sustain its global leadership. This study contributes comparative insights for policymakers on aligning regulatory frameworks with maqāṣid al-sharīʿah and strengthening cross-border collaboration
Political-Legal Strategies in Regulating Interfaith Marriage: An Analysis of Supreme Court Circular Letter in Indonesia Muhammad Solikhudin; Ahmad Rezy Meidina; Ahmad Zayyadi; Ashima Faidati; Ikhdan Gimas Shufyansyah; Muhammad Fuad Zain; Nur Faizah
Jurnal Ilmiah Al-Syir'ah Vol 22, No 2 (2024)
Publisher : IAIN Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30984/jis.v22i2.3237

Abstract

This article examines the political and legal dimensions underlying the issuance of Supreme Court Circular Letter (SEMA) Number 2 of 2023, which addresses the issue of interfaith marriages in Indonesia. Through a qualitative approach employing doctrinal and socio-legal analysis, this study explores this policy's legislative intent, judicial implications, and broader societal impacts. The findings reveal that SEMA No. 2 of 2023 represents a strategic political-legal maneuver by the Indonesian judiciary to navigate the tension between religious norms, constitutional rights, and societal pluralism. While the circular aims to harmonize Islamic family law with Indonesia’s pluralistic legal framework, it has also sparked debates regarding its alignment with fundamental human rights principles and practical implications for legal certainty. This study contributes to the discourse on interfaith marriage regulation by offering a critical perspective on how judicial policies reflect and shape the broader political-legal landscape. The article concludes that SEMA No. 2 of 2023 is pivotal in balancing legal pluralism and social harmony and protecting religious and individual rights in Indonesia's dynamic legal system.