<![CDATA[Penelitian ini bertujuan untuk menganalisis secara komparatif perkembangan historis, kerangka regulasi, serta struktur kelembagaan yang membentuk sistem perbankan syariah di Indonesia dan Malaysia. Dengan menggunakan metode studi literatur yang berfokus pada publikasi ilmiah, regulasi, dan dokumen resmi, penelitian ini mengkaji dinamika reformasi hukum, mekanisme pengawasan, dan model governance syariah di kedua negara. Hasil kajian menunjukkan bahwa Malaysia mengembangkan sistem regulasi yang lebih terpusat melalui Islamic Banking Act 1983 dan Islamic Financial Services Act 2013, sementara Indonesia menerapkan pendekatan bertahap melalui UU No. 10/1998 dan UU No. 21/2008. Perbedaan struktur otoritas SAC pada Malaysia dan DSN–MUI pada Indonesia menyebabkan variasi dalam harmonisasi fatwa, inovasi produk, serta kepastian hukum. Penelitian ini memberikan kontribusi teoritis mengenai arah perkembangan regulasi keuangan syariah di Asia Tenggara serta manfaat praktis bagi regulator dan industri dalam merumuskan kebijakan yang lebih koheren dan adaptif. The objective of this study is to comparatively examine the historical development, regulatory framework, and institutional architecture that make up the Islamic banking system in Indonesia and Malaysia. This research examines the dynamics of legal reform, supervisory mechanisms, and models of Shari'a governance in both nations, employing a literary review approach with a focus on scholarly publications, regulations, and official papers. The study's findings show that Indonesia established a phased approach through Law No. 10/1998 and Law No. 21/2008, while Malaysia created a more centralized regulatory framework via the Islamic Banking Act 1983 and the Islamic Financial Services Act 2013. Disparities in authority structures between Malaysia's SAC and Indonesia's DSN-MUI account for differences in fatwa harmonization, product innovation, and legal certainty. This study makes a theoretical contribution to understanding the trajectory of Islamic finance regulation in Southeast Asia and provides policymakers and businesses with practical advice on how to create policies that are more consistent and flexible.]]>
