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ISLAMIC SOCIAL FINANCE SEBAGAI SOLUSI KRISIS EKONOMI GLOBAL Yaqin, Abdullah; Muzaki, Mohammad
Mozaic: Islamic Studies Journal Vol 4 No 01 (2025)
Publisher : Pascasarjana UIN Kiai Haji Achmad Siddiq Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35719/mozaic.v4i01.2277

Abstract

The global economic crisis triggered by the pandemic, geopolitical conflicts, and recessions has significantly impacted various economic sectors, particularly in developing countries. Conventional financial systems are often deemed ineffective in addressing crises due to weak regulations and policies that focus more on mitigating impacts rather than resolving root causes. In this context, Islamic Social Finance (ISF) emerges as a more inclusive and sustainable solution through instruments such as zakat, waqf, sadaqah, and qardhul hasan. This study adopts a literature review approach to explore the role of ISF in addressing the global economic crisis and its contribution to economic growth and financial inclusion. The findings indicate that ISF plays a strategic role in enhancing socio-economic welfare by distributing funds to vulnerable groups, supporting MSME growth, and financing social projects through social sukuk and productive waqf. The implementation of ISF in countries such as Indonesia and Malaysia has proven effective in aiding post-crisis economic recovery and reducing social inequality. Therefore, optimizing ISF management through collaboration between governments, philanthropic institutions, and the private sector is essential to ensure that Islamic financial instruments contribute more significantly to building a stable and sustainable economic system.
PUBLIC POLICY INNOVATION IN PROMOTING INCLUSIVE ECONOMIC GROWTH IN THE DIGITAL TRANSFORMATION ERA Muzaki, Mohammad; Fauzil Adhim, Mohammad
International Conference on Humanity Education and Society (ICHES) Vol. 4 No. 1 (2025): The 4rd International Conference on Humanity Education and Society (ICHES)
Publisher : FORPIM PTKIS ZONA TAPAL KUDA

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Abstract

Digital transformation has become a major force in reshaping governance and public service systems. Public policy innovation plays a crucial role in improving bureaucratic efficiency, enhancing transparency, and promoting the creation of an inclusive economy that is responsive to the needs of society. This study aims to analyze the role of policy innovation in fostering inclusive economic growth in the digital era, with an emphasis on the implementation of digital bureaucracy systems such as e-budgeting, e-planning, and e-procurement. This research employs a descriptive qualitative approach based on a literature review of academic sources, policy reports, and government institutional data. The findings indicate that the use of technology and data in policy formulation has accelerated the transformation of public services, expanded citizen participation, and improved the accuracy of social interventions targeting marginalized groups. Moreover, data-driven policy approaches and open government practices have been shown to strengthen public trust and policy accountability. Nevertheless, challenges such as the digital divide,limited digital literacy, and unequal access to infrastructure still need to be addressed in the implementation of inclusive policies. This study recommends strengthening cross-sector collaboration and enhancing local capacity as key strategies to achieve fair and sustainable economic growth in the digital transformation era