STUDIA ISLAMIKA
Vol 27, No 3 (2020): Studia Islamika

New Trends in Economic Behavior: The Phenomenon of the Anti-Usury Movement in Indonesia

Ika Yunia Fauzia (Perbanas School of Business and Banking (STIE Perbanas) of Surabaya)
Abdul Kadir Riyadi (Sunan Ampel State Islamic University (UIN) of Surabaya)



Article Info

Publish Date
23 Dec 2020

Abstract

Like any other discourse, ideas regarding usury in Indonesia have evolved over time. This study is concerned with tracing that evolution and with understanding how Indonesian academics, practitioners, and laypersons view the problem. The increasing popularity of usury is then juxtaposed with emergence of anti-usury movements, of which this study identifies 14 throughout the country. Using a phenomenological approach, the study analyses these movements in order to better understand their nature and then categorises them into three classes. The first is that organised by figures affiliated with Hizbut Tahrir Indonesia; the second is initiated by Indonesia’s Salafi ulama; and the third has no clear leadership and membership and is, therefore, somewhat disorganised. The ideas espoused by the anti-usury movement are primarily disseminated via the internet and social media. This study finds that the movement is growing quickly and gaining momentum.

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Journal Info

Abbrev

studia-islamika

Publisher

Subject

Religion Education

Description

STUDIA ISLAMIKA (ISSN 0215-0492; E-ISSN: 2355-6145) is a journal published by the Center for the Study of Islam and Society (PPIM) UIN Syarif Hidayatullah, Jakarta. It specializes in Indonesian Islamic studies in particular, and Southeast Asian Islamic studies in general, and is intended to ...