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INDONESIA
Journal of Central Banking Law and Institutions
Published by Bank Indonesia Institute
ISSN : 28277775     EISSN : 28099885     DOI : https://doi.org/10.21098/jcli.v2i1
Core Subject : Economy, Humanities, Science, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences
Journal of Central Banking Law and Institutions (JCLI) is an international peer-reviewed journal. ​​JCLI publishes triannually. JCLI focuses on a range of topics examining the intersection of central banking law and institutions on the monetary, financial system, and payment systems that include regulations, governance (including transparency & accountability), credibility, institutional politics, institutional arrangements, and institutional communication. The JCLI’s scope is global, and the journal endeavours to publish high-quality research that contributes to the literature and/or impacts macro-economic policy aimed at enhancing social & economic welfare. Research papers are welcome from central and non-central bank practitioners, academics, and policymakers, regardless of their institutional affiliation and geographic location.
Arjuna Subject : Ilmu Sosial - Hukum
Articles 91 Documents
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Integrating Islamic Social Funds in Sharia Banking for Empowering Indonesia’s Productive Poor Umam, Khotibul; Tama, Berlian Widya
Journal of Central Banking Law and Institutions Vol. 5 No. 1 (2026)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v5i1.498

Abstract

The enactment of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (the DSFS Law) expands the role of Sharia banks beyond collecting social funds to managing and distributing them. However, challenges remain, including limited financial inclusion, limited use of social contracts such as qardh al-hasan, and underutilisation of commercial contracts like salam and istishna, which could benefit the micro, agricultural, and manufacturing sectors. This study examines the compatibility of Islamic social funds (ISF) with a bank’s role as a financial intermediary and with the expected function of Sharia banking in financing a productive poor society. This study uses normative legal research, emphasising secondary data, and employs three approaches: the statutory approach, the conceptual approach, and the comparative approach. The DSFS Law (Law No. 4/2023) provides a clear legal basis for Sharia banks and Sharia business units not only to collect but also to manage and distribute ISF. The DSFS Law broadens Sharia banks’ role in (ISF). However, gaps remain in waqf management and zakat coordination, creating challenges for integration with Sharia banking. To overcome this, more substantial regulatory alignment and support from Bank Indonesia (BI) and the Financial Services Authority (Otoritas Jasa Keuangan/OJK) are needed to fully connect sharia banks’ intermediation role with ISF.

Page 10 of 10 | Total Record : 91

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