The Concept and Implementation of Economic Policy According to Islamic Law

Abstract

The economy has improved very rapidly in the digital age. The birth of various policies that actually do not consider the religious side, which only cares about profit. This becomes a challenge in providing a factual answer to the conception of economic policy that is in line with economic principles in accordance with Islamic law.So, it is very urgent to re-explore the conception and implementation of economic policies outlined in Islamic law. The study is a conceptual study by conducting a literature review. This study focuses on theories related to the concept of economic policy in the perspective of Islamic law.The findings in this study indicate that economic policies in Islamic law have been stipulated in the Islamic texts which substantially prohibit policies that use people's property, criminalizing policies. Economic policies that are in accordance with Islamic law are policies that are fostering in increasing economic development.This economic policy has long been practiced by the Prophet (pbuh) and his companions during the period ofkhulafaurasyidin as a way to improve the economy with policies that are relevant to the objectives of the Islamic texts. The implication of this finding is that in carrying out economic policies always consider economic policies that are in line with the provisions of the Quran and hadith.