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Islamic Banking Financial Institutions Analysis of Growth and Development in Indonesia Sofyan Abas
JURNAL SAINS SOSIAL DAN HUMANIORA (JSSH) Vol. 5 No. 1 (2025): JSSH : Jurnal Sains, Sosial dan Humaniora
Publisher : Lembaga Penellitian, Pengabdian dan Publikasi (LP3M), UNIVERSITAS MUHAMMADIYAH MALUKU UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52046/jssh.v5i1.2562

Abstract

The issuance of the Financial Services Authority Regulation (POJK) number 12 of 2023 can actually require Conventional Commercial Banks in Indonesia to separate their Sharia Business Units (UUS) if they have met the conditions set out in POJK number 12 of 2023. This study aims to analyze the acceleration or development and development of Islamic banking financial institutions in Indonesia. The type of this research is qualitative research with secondary data analysis presented descriptively. This research was conducted by means of a literature study or literature review taken from various existing sources in the form of data or documents, namely through financial reports of Islamic banks, books, international and national scientific journals, magazines, scientific papers, articles, the internet, national newspapers, archives, laws, Bank Indonesia (BI) regulations, Financial Services Authority (OJK) regulations and all forms of government regulations relating to Islamic banking in Indonesia. Furthermore, the results of the study can show that the acceleration, growth and development of financial institutions in the Islamic banking sector in the country is growing significantly, this is evidenced by several conventional banks that have metamorphosed into Islamic Commercial Banks. In the performance report of the Financial Services Authority that there are 14 banks in Indonesia at the end of 2024 have become Islamic Commercial Banks or BUSs.
The Practice of Sharia Economics and Capitalist Economics: A Comparative Study Sofyan Abas
JURNAL SAINS SOSIAL DAN HUMANIORA (JSSH) Vol. 5 No. 2 (2025): JSSH : Jurnal Sains, Sosial dan Humaniora
Publisher : Lembaga Penellitian, Pengabdian dan Publikasi (LP3M), UNIVERSITAS MUHAMMADIYAH MALUKU UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52046/jssh.v5i2.2658

Abstract

A country's economic system actually refers to a unified mechanism and decision-making institutions that implement decisions on economic aspects such as production, consumption, and income distribution. A country's economic system can also be shaped by various complex factors, such as ideology and belief systems, worldviews, geography, politics, socio-culture, and other factors. At the macro level, there are several major schools of thought in the world economy today, including capitalism and Sharia economics. Sharia economics is a superior alternative system because it has a consistent character that does not change over time. Sharia economics is based on the teachings of the Qur'an and Sunnah. The Islamic economy is oriented towards the real sector and is based on profit sharing, unlike the capitalist economic system which is based on usury or interest. The Islamic economy emphasizes not only economic growth but also equity and justice. Meanwhile, the basic concept of the capitalist economic ideology is that fundamental decisions regarding ownership, production, distribution, and consumption can be left to individuals or private parties. The capitalist economic system actually separates religious intervention from various economic and financial activities or transactions. According to Karl Marx, religion is one of the factors that hinders economic growth, monetary stability, and the welfare of society, or an obstacle to economic growth of a nation or country.
Comparative Study of Sharia Economic Practices and Socialist Economics Sofyan Abas
JURNAL SAINS SOSIAL DAN HUMANIORA (JSSH) Vol. 6 No. 1 (2026): JSSH : Jurnal Sains, Sosial dan Humaniora
Publisher : Lembaga Penellitian, Pengabdian dan Publikasi (LP3M), UNIVERSITAS MUHAMMADIYAH MALUKU UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52046/jssh.v6i1.2784

Abstract

A country's economic system constitutes the framework, rules, and mechanisms used to manage production, distribution, consumption, and services to achieve prosperity. The fundamental differences between economic systems lie in how factors of production, resources, and ownership are regulated. In some systems, individuals possess all factors of production, while in others, resources are held collectively by the state. Islamic economics, as an alternative system, emphasizes principles based on the Qur'an and Sunnah, advocating justice, equitable distribution, and a profit-sharing system, contrasting with socialist economics which is grounded in collectivism and state control. This paper compares both systems in terms of philosophy, mechanisms, and their impacts on growth and social justice, demonstrating that Islamic economics has consistent characteristics and adaptability over time, capable of balancing economic growth with social equity.