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Journal : West Science Islamic Studies

Synergy of the National Sharia Board and the Financial Services Authority in the Development of Sharia Financial Regulations in Indonesia Ermaini, Ermaini; Arniwita, Arniwita; Putra, Iwan Eka; Ridwan, Mohammad; Munzir, Munzir; Sudarmanto, Eko
West Science Islamic Studies Vol. 3 No. 02 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i02.1831

Abstract

This study examines the synergy between the National Sharia Board (Dewan Syariah Nasional, DSN) and the Financial Services Authority (Otoritas Jasa Keuangan, OJK) in developing sharia financial regulations in Indonesia. Employing a qualitative research approach, the study focuses on data obtained from semi-structured interviews with three informants, comprising a DSN representative, an OJK official, and a sharia finance expert. Key findings reveal the importance of collaborative decision-making, role clarity, structured communication mechanisms, and capacity building in ensuring effective regulation. However, challenges such as delays in policy integration and difficulties in addressing financial technology innovations persist. This research highlights the critical role of synergy between religious and regulatory institutions in fostering the growth of the sharia finance sector, positioning Indonesia as a global leader in Islamic finance.
Optimization of Sharia Fintech in the Development of Green Bonds and Sustainable Investments Judijanto, Loso; Ermaini, Ermaini; Kaswoto, Junet; Arumingtyas, Fida; Sudarmanto, Eko
West Science Islamic Studies Vol. 3 No. 02 (2025): West Science Islamic Studies
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsiss.v3i02.1835

Abstract

This study examines the optimization of Sharia fintech in the development of green bonds and sustainable investments in Indonesia, using a qualitative analysis based on interviews with five key informants from various sectors, including fintech, finance, and regulatory bodies. The findings highlight the significant role of Sharia fintech in promoting sustainable investments, especially in the context of green bonds, by democratizing access to investment opportunities and aligning financial products with ethical, Sharia-compliant principles. However, challenges such as unclear regulatory guidelines and the need for technical expertise in ensuring Sharia compliance were identified. The study also underscores the potential for synergy between Sharia finance and sustainable investment goals, with recommendations including the creation of standardized regulatory frameworks, the promotion of financial literacy, and the use of advanced technologies like blockchain to enhance transparency. The results suggest that while the integration of Sharia fintech with green bonds holds great promise, further collaboration among stakeholders and a clear regulatory approach are essential for its successful implementation.
Co-Authors Ade Irma Suryani Adi Putra Adi Putra Afrizal, Ardi Ahmad Soleh Ali Suman Amanda, Kiki Amri Amir Amrizal Amrizal Andang Fazri Apriyanti, Dila Ardi Afrizal Ardi Afrizal Armiwita, Armiwita Arniwita, Arniwita Arumingtyas, Fida Asrini , Asrini Asrini Asrini Asrini Asrini Bansa, Yorina An'guna Dani Dani Dani, Rian Daniel, Prima Audia Deka Veronica DEVITA ANDRI Dewi Apriyani, Sugma Dewi, Lizabeth Sari Dharma, Bertia Arya Endah Tri Kurniasih Endang Fatmawati Ermaini Ermaini Ermaini Ermaini Etik Winarni, Etik Fahmi, Ali Faradilla Herlin Guswati, Jeni Vira Hasan Basri Hendra Kurniawan Herdawati, Trie Hetty Rohayani Hierdawati, Trie Hierdawaty, Trie Indria Mayesti Ismanto, Widodo Joranda, Yoega Maulana Judijanto, Loso Kaswoto, Junet Kurniasih, Endah Tri Mainita , Mainita Mayesti, Indria Mohammad Ridwan Muhammad Ridwansyah Munzir Munzir, Munzir musnaini musnaini Mustika Mustika Nanjar, Agi Neldawati, Rika Noneng Marthiawati. H Noprihartini, Noprihartini Nurdin Nurdin Oktaviani, Rara Permana, Sendy Prima Audia Daniel Putra, Iwan Eka Rahayu Elisa N Rahayu, Yunie Rahmi Handayani Ratih Rosita Ratih Rosita Rendi Efdiansyah Rico Rico Rico Rico Rifky Lana Rahardian Sabyan, M Saputra, Mas Budi Sofyan Hadi Sri Muryati Sudarmanto, Eko Suherman, Suherman Susi Desmaryani, Susi Sy, Arniwita Syaparuddin Syaparuddin Totok Hendarto Trikurniasih, Endah Tsai, Chia Han Veronica, Deka Veronika, Deka Wahyu Hidayat Wenny, Syilvia Wiarta, Iqra Wibowo, Teguh Setiawan Yunie Rahayu Zahsyi, Muhammad Zamzami Zamzami