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All Journal Teknotan: Jurnal Industri Teknologi Pertanian Diponegoro Journal of Management Jurnal Mahasiswa Prodi SI Manajemen Jurnal Online Mahasiswa (JOM) Bidang Ilmu Hukum Ziswaf : Jurnal Zakat dan Wakaf Jurnal Riset Keuangan dan Akuntansi (JRKA) SAMARAH: Jurnal Hukum Keluarga dan Hukum Islam SELAPARANG: Jurnal Pengabdian Masyarakat Berkemajuan Jurnal Sisfokom (Sistem Informasi dan Komputer) SYARI'AH : Jurnal Ekonomi Syari'ah JURNAL PengaMAS Jurnal Peternakan (Jurnal of Animal Science) Ensiklopedia of Journal International Journal of Islamic Business and Economics (IJIBEC) JURNAL AGRI-TEK Kurs : Jurnal Akuntansi, Kewirausahaan dan Bisnis Diklat Review : Jurnal manajemen pendidikan dan pelatihan Industrial Engineering Journal (IEJ) Jurnal Bisnis Tani JURNAL TEKNIK SIPIL UNAYA Marine Kreatif Jurnal Ilmiah Akomodasi Agung Sriwijaya Bioscientia Jurnal Altifani Penelitian dan Pengabdian kepada Masyarakat International Journal of Progressive Mathematics Education Tropical Animal Science BIOVALENTIA: Biological Research Journal Legal Protection for the Partnership Agreement Parties Jurnal Kajian Islam Modern International Journal of Advanced Multidisciplinary ITQAN: Journal of Islamic Economics, Management, and Finance Aceh International Journal of Science and Technology Jurnal Akuntansi dan Teknologi Keuangan Journal of Critical Realism in Socio-Economic (JOCRISE) Aceh Journal of Animal Science Jurnal Akuntansi dan Keuangan Islam (JAKIs) Tourism, Hospitality and Culture Insights Journal MARAS : Jurnal Penelitian Multidisplin Prosiding Seminar Nasional Unimus GREAT: Jurnal Manajemen dan Bisnis Islam Dharma: Jurnal Pengabdian Masyarakat Ameena Journal Journal of Islamic Economic Laws Global Insights in Management and Economic Research Kesmas: Jurnal Kesehatan Masyarakat Nasional (National Public Health Journal)
Mustafa Kamal
Fakultas Ekonomi Universitas Pasir Pengaraian
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Journal : Journal of Critical Realism in Socio-Economic (JOCRISE)

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Debt And Riba Avoidance In The 100% Reserve Requirement Monetary System: A TSR Perspective On Sustainable Complementarities Kamal, Mustafa
Journal of Critical Realism in Socio-Economics (JOCRISE) Vol. 3 No. 04 (2025): DISCUSSION ON QUR’ANIC NATURE OF MONEY
Publisher : University of Darussalam Gontor Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jocrise.v3i04.88

Abstract

This paper explores the systemic roots of debt and riba (interest) in conventional monetary systems and presents a morally grounded alternative based on the Tawhidi String Relations (TSR) framework. Within the prevailing fractional reserve system, money creation through debt issuance has led to financial instability, speculative cycles, and wealth concentration—dynamics that conflict with the foundational principles of Islamic economics, particularly the prohibition of riba and the imperative for distributive justice. In response, the paper proposes a 100% reserve requirement monetary system that aligns with TSR’s epistemology of unity (tawhid), emphasizing complementarity between ethics, economic institutions, and real sector activities. The study argues that under the TSR framework, money is not a neutral tool but a moral instrument tied to real value creation and governed by ethical purpose. Through the principles of circular causation and knowledge-ethics-action integration, the full reserve system facilitates participatory finance, eliminates the structural basis for riba, and enhances financial inclusion and macroeconomic stability. Banks are reconceptualized as ethical intermediaries operating through profit-and-loss sharing contracts, while investments are directed toward socially beneficial and risk-shared ventures. Supported by both theoretical rigor and empirical evidence, this paradigm offers a holistic, sustainable, and shari‘ah-compliant alternative to debt-based finance. Ultimately, the TSR-aligned full reserve model offers not only a monetary reform, but a civilizational shift toward a justice-oriented Islamic economic order.
Co-Authors Abbas, Sarah Mardhiyah Abdullah Lawang, Karimuddin Abdullah, Afrizal Agung Firmansyah Ahmad Baehaqi, Ahmad Ahmad Syakir Ahok Alpabeta, Ahok Akbar, Muhammad Ilman Aldi, Aldi Amiruddin Amri, Nurullah Analisa Anang Susanto Anggito, Yuvens Anggriawin, Mirza Apriani, Elsa F. Arrafiqur Rahman Asep Supriatna, Asep Asmaul Husna Asnawi Abdullah Auzar Ali Azhari Azhari Bahri, Efri Syamsul Basem, Zamhir Budi Setiawan Dalimunthe, Femmy Indriany Dede Kusmana Desnelli Desnelli Dessy Artina Djati, Stefano Rahadian Rama Elyanta, Marciella Emilda Firdaus Endri Junaidi, Endri Erika Dian Nofita, Erika Dian Erwin Nofyan, Erwin Eva Herlina Fahma Riyanti Fathoni, Abdullah Alkhosik Fatma Fauzan, Muhammad Arkan Ferlinahayati Ferlinahayati Fidaus, Muhammad Fifyanita Ghanimata Fitra, Khairul Fitriani, Rita Hamdi Harmen Hamidah . Handayani, Putu Wuri Hanif Muchdatul Ayunda Hanifa Marisa Hardinsyah Hariani*, Poedji Loekitowati Hariz, Muhammad Haryadi - Hayuningtyas, Afwa Helmiati Helmiati Hendrizal Hendrizal Hendrokumoro Hermawan, Hendrik Hilka Yuliani, Hilka Husein, Husein Husin, Hasanuddin Husna, Naziratil Hutahaean, Theresia Idram, Irwansyah INDAH RAHMASARI Indrastuti, Sri Ismail Sulaiman Jamaluddin, Inayah Auliannisa Jamalwi Juswardi Juswardi, Juswardi Kasmadi Kasmadi Khairul Amri Kian, Behnam Kurniasari, Dwi Layla Hafni Litra Diantara Lubis, Ahmad Tarmidzi Mandasari, Resty Mannan, Muhammad Ramdan Abdul Mardiyanto Mardiyanto Maya Indra Rasyid Muhamad Muhamad Muhammad Amran Muhammad Yasir Muhammad Zakaria Muharni Muharni Mukhtar, Masrizal Mupidah, Yulia Mustaqim Mustaqim, Mustaqim Ngatemin, Ngatemin Nur Kholis Nuraini Nuraini Patricia, Margareth Pramono, Rudi Dwi Pratiwi, Rianti Putri, Librina Tria Qadar, Amri Rahmadani, Annisa Rahmasari, Nafira Putri Rais, Mursal Ramadhani, Audya Rahma Ramdani, Opi Risfidian Mohadi Rismayanti Rismayanti Risnadi Irawan Rizal M. Damanik Saleh, Juwaini Salni Sari, Wenny N. Sari, Weny Novita Sepky Mardian Sri Maryati Surya, Cardy Suryani Suryani Syafrina Lamin, Syafrina Syakir, Ahmad Syukriah Syukriah, Syukriah T, Dominicus Josephus Swanto Tetuko Barruansyah, Rauf Tri Tarwiyani Triwardana, Singgih Triyanto, Abdi Umiyati Wahyudi, Reza Yadi Oktariansyah Yasin, Wahid Yulizar Yulizar Yupit Sudianto Yusdiana, Yusdiana Zul Hazril, Muhammad Zulkifli Zulkifli