Islamic Economics and Economic Disruption: Challenges, Modifications, and Transformations

Abstract

This paper departs from the phenomenon of disruption that has shaken various orders of life, including sharia economics. This paper wants to examine the challenges of the era of disruption to Islamic economics, and how Islamic economics accommodates and modifies to answer these challenges. This is a qualitative research with data, namely related literature on sharia economics and economic disruption. Data were analyzed by descriptive qualitative. This study finds that there are several challenges faced by Islamic economics, including: legal rules are not yet complex, human resources are not optimal, transaction processing adjustments, lack of research, not optimal government support and low education and socialization of sharia economy. So it is necessary to strengthen the sharia economy at the practical and normative level. The flexibility and basic values of sharia economic law which contain material and spiritual spirit need to be implemented properly. The existence of Islamic Financial Institutions also needs to be maximized to improve the people's economy in the era of disruption.