<![CDATA[The rapid growth of the Islamic bullion business in Indonesia has not been accompanied by adequate sharia regulatory frameworks, prompting the issuance of Fatwa DSN-MUI No. 166/DSN-MUI/II/2026 on Sharia Bullion Business Activities. This study aims to analyze the construction of this fatwa through the lens of Talcott Parsons' AGIL scheme, examining the extent to which the fatwa functions not merely as a normative Islamic legal product, but as a complete and functional social system within Indonesia's Islamic financial ecosystem. Employing a qualitative approach with library research design, data were collected through documentary analysis of the fatwa text, relevant regulations, and academic literature, analyzed using Parsons' four functional imperatives: Adaptation, Goal Attainment, Integration, and Latency. The findings reveal that the fatwa simultaneously fulfills all four AGIL functions. The Adaptation function is evidenced by the fatwa's responsiveness to Law No. 4/2023, POJK No. 17/2024, and digital transaction developments, particularly through the innovation of qabdh hukmi as an adaptation of classical fiqh to digital finance. Goal Attainment is demonstrated through the legitimization of valid contracts and the explicit prohibition of riba, gharar, and maysir. The Integration function operates through synchronization between DSN-MUI authority and OJK regulation, harmonizing classical muamalah fiqh with Indonesian positive law. The Latency function reproduces Islamic values by positioning gold as sil'ah and reinforcing normative prohibitions in economic practice. Among the four functions, integration and latency are identified as the most strategic yet most vulnerable. This study contributes a sociological dimension to Islamic law scholarship and recommends strengthening institutional coordination between DSN-MUI, OJK, and Islamic financial institutions for optimal fatwa implementation]]>
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