International Journal of Science and Society (IJSOC)
Vol 2 No 4 (2020): International Journal of Science and Society (IJSOC)

QuoVadis Regulation of Islamic Economics in Post-Reform Indonesia

Apik Anitasari Intan Saputri (IAIN Purwokerto, Indonesia)



Article Info

Publish Date
09 Nov 2020

Abstract

This paper describes the regulation of Islamic economics and the urgency of its development, the post-reform Islamic economic, regulatory system, and analyzes the orientation of Indonesian Islamic economic regulation from a political economy perspective. This article's method is a descriptive analysis by analyzing political phenomena that occur in the formulation of Islamic economic regulations in post-reform Indonesia. This qualitative research uses literature studies. The development of Islamic financial regulation in Indonesia is relatively late when referring to Islamic finance development in other countries. This is related to the national political conditions, which are generally less responsive to institutions labeled Islamic. The dramatic changes in Indonesian politics since the fall of the Soeharto regime have made room for real democracy. Islamic banking regulation responds to the Islamic banking industry's development, which requires assurance of legal certainty and legal justice in a clear regulation. The increase in the role of the government in dealing with Islamic economic problems has a big role. According to Islam, economic policies must be supported by social responsibility, limited economic freedom by sharia, multi-ownership recognition, namely private ownership, state ownership, and a high work ethic. The interpretation and development of Islamic economic regulations can be richer and more important if it is based on concrete experiences of development in implementing Islamic economic regulations in Indonesia. In seeking economic laws in line with the rububiyah principle, practical experiences are material for validating Islamic economic laws.

Copyrights © 2020






Journal Info

Abbrev

ijsoc

Publisher

Subject

Materials Science & Nanotechnology Social Sciences

Description

International Journal of Science and Society (IJSOC) is open access and peer-reviewed journal with e-ISSN (2715-8780), IJSOC is an international journal devoted to the study of science and technology in a social context. It focuses on the way in which advances in science and technology influence ...