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All Journal Ahkam: Jurnal Ilmu Syariah Agrikultura Al-'Adalah Al-Ulum Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) MUQTASID Hikmah : Journal of Islamic Studies
Muhammad Maksum
Syarif Hidayatullah State Islamic University of Jakarta
Religion Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Ahkam: Jurnal Ilmu Syariah

 1 
The Relationship Model of Sharia and Financial Authorities Muhammad Maksum
AHKAM : Jurnal Ilmu Syariah Vol 20, No 1 (2020)
Publisher : Universitas Islam Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/ajis.v20i1.16235

Abstract

Political economy and religious policies affect the relationship between sharia and financial authorities. Countries that make Islam as the official religion put Sharia authorities within the scope of the state. Malaysia is one of the countries that put Sharia authorities in the structure of state authority, although it is subject to independency. In the meantime, Indonesia combines the two models of relationship: 1) granting broader independence to sharia authority (the Indonesian Ulema Council) and 2) forming sharia board to deal with sharia finance, among others. The comparison of Indonesian, Malaysian, and the Middle Eastern countries’ system shows that the independence and the effectiveness of sharia economic fatwa application are found to attract each other. This, in turn, influences the supervision of Islamic financial institutions.  AbstrakPolitik ekonomi dan kebijakan agama memengaruhi hubungan antara otoritas syariah dan otoritas keuangan. Negara yang menjadikan Islam sebagai agama resmi menempatkan otoritas syariah dalam ruang lingkup negara. Malaysia adalah salah satu negara yang menempatkan otoritas Syariah dalam struktur otoritas negara, meskipun tetap independen. Sementara itu, Indonesia menggabungkan dua model hubungan: 1) memberikan independensi yang lebih luas kepada otoritas syariah (Majelis Ulama Indonesia) dan 2) membentuk dewan syariah untuk menangani hal yang berkaitan dengan keuangan syariah. Perbandingan sistem Indonesia, Malaysia, dan negara-negara Timur Tengah menunjukkan bahwa independensi dan efektivitas penerapan fatwa ekonomi syariah terbukti saling berhubungan satu sama lain. Ini, pada gilirannya, memengaruhi pengawasan lembaga keuangan Islam.
Co-Authors Danar Dono Fitri Widiantini