MILRev: Metro Islamic Law Review
Vol. 1 No. 1 (2022): MILRev : Metro Islamic Law Review

External Debt the State for Indonesia’s Economic Development in Perspetive of Islamic

Cindy, Suhety (Unknown)
Wati, Nely Rahma (Unknown)
Rizmaharani, Amalia (Unknown)



Article Info

Publish Date
26 Dec 2022

Abstract

In a country, economic development is the process of how that country can develop. National development is carried out in order to achieve a developed country and make the people there prosperous. Economic development cannot be separated from a country, the process and impact reap many pros and cons in various ways. In its continuity, economic development will not occur without being accompanied by the provision of large capital funds. Often the government brings in funds or, let's say, borrows funds from foreign countries to support the success of economic development. As a result, foreign debt has piled up, hampering economic development. Foreign debt that occurs in developing countries, especially Indonesia, cannot be avoided. Foreign debt occurs due to various factors, one of which is limited human resources that are less effective, which indirectly forces a country to borrow funds from foreign countries because an ineffective workforce does not produce sufficient financial resources for economic development. From an Islamic legal perspective, foreign debt contains the element of usury, why is that because foreign debt always contains interest, in Islam anything that contains usury is clearly not permitted. Of course, the government, especially the Indonesian government, must pay attention to this matter.

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Journal Info

Abbrev

milrev

Publisher

Subject

Religion Humanities Law, Crime, Criminology & Criminal Justice Social Sciences

Description

MILRev Is a scientific law journal with a focus on studies in the field of Islamic law, starting from fiqh, fatwa, or qanun (laws, shariah regional regulations, compilations of Islamic laws). The aim is to develop knowledge in the field of Islamic law, in order to be able to respond to the needs of ...