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All Journal Jurnal Penelitian Pendidikan Indonesia Sharia Oikonomia Law Journal
Didih Muhamad Sudi
Sekolah Tinggi Agama Islam Syekh Manshur
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Enhancing the sustainability and competitiveness of Islamic Banking: a comparative study of fiscal policy and regulatory Frameworks in Indonesia and Malaysia Didih Muhamad Sudi
JPPI (Jurnal Penelitian Pendidikan Indonesia) Vol. 11 No. 2 (2025): JPPI (Jurnal Penelitian Pendidikan Indonesia)
Publisher : Indonesian Institute for Counseling, Education and Theraphy (IICET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29210/020255614

Abstract

The rapid global expansion of Islamic banking urgently necessitates robust fiscal policies and regulatory frameworks, particularly in leading Muslim-majority economies like Indonesia and Malaysia, where their long-term sustainability and competitiveness are critically dependent on effective governance. This study addresses a critical gap by providing an in-depth comparative analysis of the fiscal policy and regulatory frameworks in enhancing the sustainability and competitiveness of Islamic banking in these two countries, focusing on underlying issues that justify this comparison. Employing a qualitative, interpretivist comparative case study approach, data were collected through comprehensive literature reviews, in-depth analysis of key policy documents (Indonesia’s Law No. 21 of 2008 on Islamic Banking, Malaysia’s Islamic Financial Services Act 2013), and secondary data from financial authorities. Thematic content analysis was used to compare their approaches systematically. The findings reveal that both countries have strategically employed tax incentives, liquidity measures, and legal oversight to foster sectoral growth. Indonesia with a multi-agency framework, rooted in Law No. 21 of 2008, demonstrates a strong commitment to Islamic principles but grapples with regulatory overlaps and operational inefficiencies. Malaysia with centralized approach, anchored by the Islamic Financial Services Act 2013 and guided by the Shariah Advisory Council, has contributed to global competitiveness. The findings also highlight key policy challenges, including regulatory fragmentation, Shariah compliance in fintech integration, and limited technical capacity, and offer actionable recommendations to strengthen financial inclusion, institutional resilience, and the long-term sustainability of Islamic banking in both jurisdictions.
Optimizing Waqf as a Socio-Economic Financing Instrument in the Digital Era Didih Muhamad Sudi; Akbar Sarif; Yuanyuan Wang; Guijiao Zou
Sharia Oikonomia Law Journal Vol. 2 No. 2 (2024)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/solj.v2i2.1157

Abstract

Waqf, an important Islamic philanthropic tool for social and economic financing, has a long history. However, the management and distribution of waqf often hinders wider potential benefits. Information technology can be a useful tool to overcome these various obstacles in the current digital era. The aim of this research is to identify various technologies that can be used to optimize waqf management. Specifically, this research aims to identify technologies that can be used to increase efficiency and transparency in waqf management, evaluate how the application of these technologies impacts the effectiveness of waqf management, and make strategic recommendations for waqf managers and other stakeholders. Data was collected through in-depth interviews with waqf managers, Islamic economic experts and information technology experts. In addition, annual reports of waqf institutions, government policies related to waqf, and academic literature on the digitalization of waqf management were analyzed. Thematic analysis techniques are used to find main research patterns and themes. The research results show that using digital technology in waqf management has many major advantages. Technologies such as smart contracts and blockchain can increase the security and transparency of waqf transactions, reduce the possibility of abuse, and enable more effective audits. In addition, wider waqf fundraising is made possible by digital-based crowdfunding platforms. This research finds that digital technology has great potential to optimize waqf management as a socio-economic financing tool. This technology can overcome many of the traditional problems faced by waqf management, such as lack of transparency and efficiency.
Co-Authors Akbar Sarif Guijiao Zou Yuanyuan Wang