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Journal : West Science Islamic Studies

Implementation of Fatwa DSN-MUI as a Basis for Regulation in Islamic Finance in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Abdullah, Rais; Winarni, Indah; Lasmiatun, KMT
West Science Islamic Studies Vol. 3 No. 01 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i01.1611

Abstract

This study examines the implementation of Fatwas issued by the National Sharia Council-Indonesian Ulema Council (DSN-MUI) as a foundational regulatory framework for Islamic finance in Indonesia. Through a literature review analysis, the research explores the role of these Fatwas in shaping Sharia-compliant financial practices, their integration into regulatory frameworks, and the challenges associated with their application. Key findings highlight the dual role of DSN-MUI Fatwas as theological and regulatory tools, their contribution to ensuring Sharia compliance, and the need for standardized enforcement mechanisms. Drawing lessons from global practices, this study emphasizes the importance of institutional capacity and collaboration in enhancing the effectiveness of DSN-MUI Fatwas. These insights provide a valuable roadmap for advancing Islamic finance in Indonesia, fostering alignment between religious principles and regulatory frameworks.
Implementation of Fatwa DSN-MUI as a Basis for Regulation in Islamic Finance in Indonesia Judijanto, Loso; Ilhamiwati, Mega; Abdullah, Rais; Winarni, Indah; Lasmiatun, KMT
West Science Islamic Studies Vol. 3 No. 01 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i01.1611

Abstract

This study examines the implementation of Fatwas issued by the National Sharia Council-Indonesian Ulema Council (DSN-MUI) as a foundational regulatory framework for Islamic finance in Indonesia. Through a literature review analysis, the research explores the role of these Fatwas in shaping Sharia-compliant financial practices, their integration into regulatory frameworks, and the challenges associated with their application. Key findings highlight the dual role of DSN-MUI Fatwas as theological and regulatory tools, their contribution to ensuring Sharia compliance, and the need for standardized enforcement mechanisms. Drawing lessons from global practices, this study emphasizes the importance of institutional capacity and collaboration in enhancing the effectiveness of DSN-MUI Fatwas. These insights provide a valuable roadmap for advancing Islamic finance in Indonesia, fostering alignment between religious principles and regulatory frameworks.
Co-Authors A.A. Ketut Agung Cahyawan W Abd Nasir Abdullah, Rais Agusta Dian Ellina Ali Haedar Apriani, Elsa Arfiyadie, Aqilah Muthiah Arief Alamsyah Arikarani, Yesi Artawan, I.K Athi' Linda Yani Atin Humayya Azizah, Widad Bintari Ratih Kusumaningrum Budi, Sri Utami Danar Bawana Rama Dewi Rachmawati, Septi Eko Prasetya W Emy Sudarwati Farida Rozany Fransiska Imavike Fevriasanty Habaora, Fellayanus Hanif, Isa Faqihuddin Heni Dwi Windarwati Heri Kristianto Hidayati, Rizqi Wahyu I Nengah Dartha Yasa Ida Puji Lestari Ilhamiwati, Mega Imelda Manek Laku Indhiarti, Tantri Refa Ive Emaliana Janes Jainurakhma Judijanto, Loso Khasanah, Nevi Laila Kumboyono Kumboyono Lasmiatun, KMT Lestari Eko Darwati Maspiyah Maspiyah Mawardi Lubis Merisdawati MR Moh. Mansur Moh. Mansur Monasari, La Denna Hasri Muhamad Akip Muhammad Yusuf Muryani, Ni Made Sri Nanditya Ika Faramita Nanditya Ika Faramita Nirwana, Azzahra Putri Nofita Dwi Harjayanti Oktari, Nadia Oktavianalisti, Falah Qomarullah, Muhammad Qonita, Anggi Mara Reni Aria Sari Retno Lestari Retno Lestari Retno Lestari Retty Ratnawati Rindayati Rindayati Rindayati, Rindayati Risna Yekti Mumpuni Riwukore, Jefirstson Richset Rozany, Farida Rusydi, Gunadi Septi Dewi Rachmawati Septi Dewi Rachmawati, Septi Dewi Septi Dwi Rachmawati Setyoadi Setyoadi Setyoadi Setyoadi Sirawati Sri Endah Tabiati Sulistyono Sulistyono Susanto, Yohanes Viera Wardhani Viera Wardhani Wahyu Widiastutik Wenny Nugrahati Carsita Widiastutik, Wahyu Widya Caterine Perdhani Windarwati, Heni Dwi Wiseno, Bambang Zidni Nuris Yuhbaba