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Siti Fatimah Tuzahra
Universitas Islam Negeri Antasari Banjarmasin

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Journal : Jurnal Al-Qardh

Bank Indonesia Syariah Certificate: Encouraging Economic Growth During The COVID-19 Pandemic Agus Purnomo; Atika Zahra Maulida; Siti Fatimah Tuzahra; Dian Ayu Lestari
AL-QARDH Vol 8, No 1 (2023): AL-QARDH
Publisher : Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Negeri Palangka Raya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23971/jaq.v8i1.5748

Abstract

The Bank Indonesia Sharia Certificate (SBIS) is one of the sharia monetary instruments used by Bank Indonesia in formulating monetary policy. The development of SBIS is related to several factors: inflation growth, the economy, and the development of the gross domestic product. This study aims to determine how to implement the Bank Indonesia Sharia Certificate (SBIS) in encouraging monetary economic growth during the Covid-19 pandemic. The slowdown in economic growth and regional economic performance due to the impact of the Covid-19 virus outbreak that attacked the economy resulted in a decline in economic performance. The role of money market products (SBIS) can encourage economic growth and development through Islamic money market transactions.  This research method uses descriptive qualitative research with a library research approach and interviews.  In collecting interview data using the accidental sampling method conducted on Bank Indonesia staff directly at the research location and data on the growth, economy, and development of SBIS during the Covid-19 pandemic. Research results: The Bank Indonesia Sharia Certificate (SBIS) implementation has generally been carried out properly by Bank Indonesia. When Bank Indonesia issues SBIS and sells it to the public, this will cause the money supply in the community to decrease. When the money supply in society decreases, then inflation can be suppressed. When inflation can be suppressed, this will indirectly affect the increase in financing disbursements in Islamic banks. So, it can be concluded that SBIS significantly affects financing distribution in Islamic banking. When financing distribution increases, this will help MSME players affected by Covid-19 in terms of capital. The role of SBIS during the Covid-19 pandemic can stimulate and encourage economic growth performance.