Financial System Stabilization in Islamic Economics Perspective

Abstract

The purpose of this study is to find a picture of a stable financial system from the perspective of the Islamic economy. This type of research is literature research with qualitative methods using normative, historical, and phenomenological approaches. The normative approach is used to explain the concepts of Islamic economics. The historical approach is used to explain the chronology of the use of the current financial system. The phenomenological approach explains contemporary events related to the research topic. The data is taken from a wide variety of literature, such as the Qur'an, al-Hadith, and many articles from national and international reputational journals related to this research topic. Researchers used more than 50 articles from Scopus quartile indexed journals 1 to 4 in the last five years. The collected data are analyzed by a deductive method, that is, the process of data analysis of the general opinion of Islamic teachings that have been agreed upon by the majority of people and then narrowed down to a specific idea of the stability of the financial system in Islam. The results of this study were found due to the instability of the current financial system because it uses the concept of usury (in Arabic, usury). In contrast, usury in Islamic economics is legally haram. Therefore, the way to stabilize the financial system from an Islamic economic perspective is to use gold and silver currency standards, abolish the practice of usury, and supervise the turnover of money in society by the hisbah. This research can add to the academic discourse of Islamic economics.

Pemahaman Umat Muslim Tentang Distribusi Kekayaan dalam Ekonomi Islam: Studi Fenomenologi Tentang Pemerataan Ekonomi

“…Dalam ekonomi konvensional, kesenjangan antara kaya dan miskin semakin memperlebar, menimbulkan pertanyaan tentang keadilan sosial dan ekonomi (Shahid et al, 2022). Dalam konteks ekonomi Islam, distribusi kekayaan memiliki peran yang sangat penting, karena prinsip-prinsip keadilan dan pemerataan menjadi pijakan utama dalam sistem ekonomi tersebut (Utomo et al, 2023). Meskipun demikian, pemahaman umat Muslim tentang distribusi kekayaan dalam ekonomi Islam masih menjadi topik yang perlu diteliti secara mendalam (Febriansyah & Darni, 2020).…”

“…Masyarakat perlu memiliki pemahaman yang mendalam tentang prinsip-prinsip ekonomi Islam dan pentingnya pemerataan ekonomi dalam membangun masyarakat yang adil dan berkeadilan. Dibutuhkan upaya untuk meningkatkan kesadaran masyarakat melalui pendidikan, kampanye sosial, dan program advokasi yang terarah (Choudhury & Choudhury, 2020b;Hoque, 2023;Utomo et al, 2023;Yaqin, 2023). Selain itu, keterlibatan aktif masyarakat dalam praktik ekonomi Islam juga penting untuk mendorong perubahan positif dan menciptakan dampak yang nyata dalam mencapai pemerataan ekonomi.…”