Hasanuddin University

Problem and Perspective of Islamic Monetary Policy in Indonesia

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dc.contributor.author MARSUKI, MARSUKI
dc.date.accessioned 2013-07-11T03:06:51Z
dc.date.available 2013-07-11T03:06:51Z
dc.date.issued 2010-09-03
dc.identifier.issn 1410 - 8089
dc.identifier.uri http://repository.unhas.ac.id/handle/123456789/5171
dc.description.abstract Abstract: Since Indonesia is a country with a majority of Muslim, efforts to implement monetary policies which are in accordance with Islamic principles is only understandable and acceptable. Bank Indonesia as the central bank of Indonesia has tried to implement such policies with the issuance of Law No. 10 of the year 1998 and Law No. 23 of the year 1999, which were later amended by Law No. 3 of the year 2004 concerning Bank Indonesia and Law No. 21 of the year 2008 concerning Syariah Banking. These three statutes have directly and indirectly laid the foundation for important political decisions to implement monetary policies based on Islamic law or syariah. This article will try to explicate several theoretical and practical ideas on the problems and prospects of Islamic monetary policy in Indonesia using an critical analysis approach, in accordance with standard scientific references, and will be complemented with descriptions and examples of practice. From these illustrations and analyses, it appears that on on hand, Islamic monetary policy will find many difficulties if implemented fully, considering that there are several fundamental obstacles that will have to be surmounted by such an implementation, primarily the fact that Indonesian Constitution (UUD 1945) is not based on Islamic law or syariah. On the other hand, despite problems and challenges, the existing condition is still open for the possibility for partial implementation of Islamic monetary policy since there are several conditions which are amenable for such an implementation, for instance the fact that majority of Indonesian population is Muslim, the increasing acceptance of the public for the advantages of Islamic monetary and financial system, and increasing support by stakeholders of the banking system, especially the Indonesian central bank (BI), financial institutions and existing syariah banking institutions. en_US
dc.language.iso other en_US
dc.publisher Jurnal Keuangan dan Perbankan, Universitas Merdeka, Malang en_US
dc.subject Research Subject Categories::SOCIAL SCIENCES: MARSUKI en_US
dc.title Problem and Perspective of Islamic Monetary Policy in Indonesia en_US
dc.type Book en_US
dc.UNHAS.email marsemil@yahoo.fr en_US
dc.UNHAS.Fakultas Fakultas Ekonomi dan Bisnis en_US
dc.UNHAS.idno 196006261988031002 en_US

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