Cecep Bryan Firdaus
University of Melbourne

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Integrating sharia financial mechanisms with indonesia's halal economy: Opportunities, challenges, and strategies for sustainable growth Cecep Bryan Firdaus
Journal of Islamic Economic Insights Vol. 1 No. 1 (2025): January 2025
Publisher : PRIVIETLAB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55942/jiei.v1i1.289

Abstract

This study emphasizes the interconnected relationship between the Halal Economy and Islamic Financial Mechanisms, proposing that Indonesia should strategically incorporate Sharia financial mechanisms to advance its halal economy. By following Islamic finance principles, Indonesia can allure foreign investment, encourage ethical business conduct, and fulfil the increasing demand for halal products and services worldwide. Despite advancements in Indonesia's halal industry development, challenges such as the requirement for specialized expertise and strong regulatory frameworks continue to exist. However, through deliberate integration and targeted investments in education and infrastructure, Indonesia can establish itself as a key player in the global halal market. This will drive economic growth, while improving sustainable development efforts and enhancing global competitiveness.
Sharia mortgage in Indonesia: A critical inquiry into regulatory adequacy, contractual integrity, and market transformation Cecep Bryan Firdaus
Journal of Islamic Economic Insights Vol. 2 No. 1 (2026): January 2026
Publisher : PRIVIETLAB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55942/jiei.v2i1.1792

Abstract

This opinion paper critically examines the structural and regulatory architecture of Sharia-compliant mortgage financing, Kredit Pemilikan Rumah Syariah (KPR Syariah), in Indonesia, with particular attention to the normative tensions between classical Islamic jurisprudence and contemporary financial engineering. Drawing on established scholarship in Islamic finance, Indonesian positive law, and institutional economics, this study argues that the existing framework, while formally compliant with Fatwa Dewan Syariah Nasional—Majelis Ulama Indonesia, exhibits persistent ambiguities in contractual taxonomy, inadequate consumer protection architecture, and insufficient harmonization with the broader macroprudential objectives of Bank Indonesia and Otoritas Jasa Keuangan (OJK). This study further contends that the dominant murabahah-based KPR model, despite its widespread adoption, raises unresolved questions regarding risk distribution, profit margin transparency, and the authentic transfer of maqasid al-shari'ah principles into product design to be implemented. The analysis concludes with a normative agenda for reform oriented toward contractual fidelity, regulatory convergence, and genuine financial inclusion.