Sartini, S.E., M.Sc., Akt

The Need for This Subject

Background & Rationales  Islamic Banking and Finance has become an important academic discipline and has attracted research in a number related areas such as the economics, finance, accounting, law, Syari’ah and others.  Demand for Islamic Banking and financial instruments as well as Islamic financial institutions have experienced a rapid growth internationally.  As an important financial activity in the Muslim world, knowledge and expertise in this discipline is very valuable, not only to the Islamic banks and financial institutions, but also to the Muslim world in ensuring sufficient number of experts and knowledgeable workers in this area

Scenario  Patricia Aburdene (2007) in Megatrend 2010 The Power of Spiritualism Spirituality in Business  One of The Indonesian National Agendas President SBY Speech  Opening of Shariah Economic Festival om_content&do_pdf=1&id=6624 Budget BI for Economic Shariah Development (8 x Rp 1,3)  Direktorat Perbankan Syariah BI (Dr. Mulya Siregar)

Overview of Islamic Economic

Why Islamic Economic? Islam as a comprehensive way of life AQIDAHSYARIAH AKHLAK MUAMALAHIBADAH SPECIAL RIGHTPUBLIC RIGHT INTERIOR AFFAIRSEXTERIORS AFFAIRS ADMINISTRATIVE ECONOMYCONSTITUENCY FINANCE Zarqa (1959 )

Classic Islamic Economist  Abu Yusuf ( ),  Yahya Ibn Adham(818),  El-Hariri ( ),  Tusi ( ),  Ibnu Taymiyah ( ),  Ibnu Khaldun ( ),  Shah Waliullah ( ).

Contemporary Interest in Islamic Economics End of II World War Political Independence of Moslems Countries Islamic Resurgence Desire to be free of colonial influence Need to find Indigenous solutions to socio economic problems Rejection of western capitalism and socialism Answer in Islamic Heritage

Development of Islamic Economics (1)  1930’s – 40’s Fiqh and Kalam  1950’s – early 60’s economics teachings and principles of Islam  1970’s – 80’s calls for Islamic Economics and Islamic Economic System

Development of Islamic Economics (2)  Writing on Islamic Economics Jurists  legalistic  confined to riba, zakat, banking, etc. Modernist  liberal interpretation of sources of Islam  answer problems of today Western trained Muslim Economiists  combined fiqh and economics  economic system and analysis

Development of Islamic Economics (3)  Contemporary Muslim Economic Thingking Agreement on philosophical foundation Agreement on sources of knowledge Agreement on general principles Common “core” based on Qur’an and Sunnah

Development of Islamic Economics (4)  Differences arise in Interpretation of term and concept found in Qur’an and Sunnah Approach and methodology followed in building theoritical construct of Islamic Economics and Islamic Economics Systems Interpretation of features in Islamic Economics System Shades of Muslim economics thought

Development of Islamic Economics (5)  Need for comparative analysis of contemporary Moslem Economics thought Areas chosen  approach and scope, underlying assumptions, Features of an Islamic Economy, Distribution, Production Scholar chosen (based on the literature written)  M.A. Mannan, M.N. Siddiqi, S.N.H. Naqvi, M.Kahf, S.M. Taleghani, M. Baqir Al Sadr For Further Discussion please refer to “Contemporary Islamic Economic Thought” written by M. Aslam Haneef

Outline of Islamic Economics System SectorPublic SectorPrivate Sector Social Welfare Sector Major Function  Maintenance of law order, justice and defense  Promulgation and implementation of economic policies  Management of properties under state ownership  Economics intervention if necessary  Creation of wealth  Economic activities of production, consumption & distributions Islamic Social Security (al takaful al ijtima’i) Possible Institution  Government, ministries, and departments  Statutory bodies  Government companies Owner operator Sharikah Public Sector (Bait al Mal, Bait al Zakat) Private sector (charitable org. individu) Relevant Syariah Law Government administrative laws i.e. company law, c ommercial law, Land law, taxation law Various Fiqh of muamalah laws i.e. mudharabah, musyarakah, ijarah, etc Various iftima’I i.e. zakah, waqf, tarikhah, sadaqah, qard

Ciri-ciri Khusus Sistem Ekonomi Islam (1)  Diilhami oleh Islamic worldview (tasawwur Islami) atas keberadaan manusia dan peranan manusia  Konsep kesejahteraan (wealth) dan kepemilikan (vicegerency/khalifah)  Penerapan tujuan-tujuan syariah (maqasid asy syariah)  Pelarangan riba dan gharar  Pelembagaan institusi-intitusi untuk kepentingan umum (public service institutions) seperti zakat, waqaf, sedekah, dll.

Ciri-ciri Khusus Sistem Ekonomi Islam (2)  Institusionalisasi lembaga keuangan syariah (misal: bank syariah, takaful, dll)  Memperkenalkan persaingan sehat (fair competition) dan equitable market untuk mencapai efisiensi dan keadilan dalam transaksi ekonomi.  Pengaturan ekonomi melalui al hisbah  Equitable distribution of wealth untuk mencapai social justice (tazkiyah)

DASAR-DASAR ISLAMIC INSTITUTIONS

Islamic Institution KarakteristikTipe  Didirikan oleh umat Islam (mayoritas pemilik adalah muslim)  Untuk kepentingan umat Islam  Diselenggarakan dan diatur sesuai syariah Islam  Dinyatakan dalam Al Qur’an dan As Sunnah  Solah, Zakah, Hajj  Diperkenalkan melalui ijma’ ulama traditional  waqaf, BMT  Diperkenalkan oleh ulama kontemporer  Lembaga Keuangan Syariah (LKS) seperti bank Islam, Asuransi syariah (takaful)

“Tidak ada keuntungan bagi orang- orang yang menyalahgunakan kekuasaannya, dan mereka tidak akan pernah memiliki pemimpin jika dipimpin oleh orang yang tidak baik” (Al Afwah Al Awdi Pre-Islamic poet, as quoted by Al Mawardi Al Ahkam Al Sultaniyah)

Islamic System and Institutions  Didirikan dalam Tasawwur Islam  Dikelola berdasar moral dan etika Islam  Diatur oleh syariah Islam

Memahami Syariah Islam  Maqasid Asy Syariah (tujuan syariah Islam)  Usul Fiqh (metode untuk menurunkan hukum)  Maslahah (metode untuk merealisasikan kepentingan umum)  Fiqh al Awlawiyat (fikih skala prioritas)  Fiqh al Munazamat (fikih keseimbangan )

Maslahah  Prinsip-prinsip untuk mencapai terpenuhinya kepentingan umum.  Good is lawful, and lawful must be good.  Tujuannya adalah untuk melindungi kepentingan yaitu (Imam Syatibi): Daruriyat (kebutuhan dasar) Hajiyyat (kebutuhan tambahan) Tahsiniyyat (kebutuhan pelengkap)

Daruriyat  Melindungi: Deen (agama) Nafs (jiwa) Nasl (keturunan/keluarga) Mal (harta) ‘Aql (akal)

Hajiyyat  Tambahan terhadap kebutuhan pokok  Jika diabaikan mungkin menimbulkan kekurangan/masalah.  Contoh: pelarangan penjualan alkohol untuk menghindari konsumsi alkohol.  Contoh: kemudahan dalam menjalankan ibadah bagi orang sakit ataupun musafir.

Tahsiniyyat  Pemenuhan kebutuhan ini memberikan peningkatan kualitas hidup.  More desirable.  Contoh: menghindari pemborosan.

Islamic Accountability  Tanggungjawab transedental terhadap Allah SWT (hablunmminnalah)  Tanggung jawab sosial (hablumminanass)  Setiap manusia adalah khalifah  Kebahagiaan dunia dan akhirat  Tujuan ekonomi tidak hanya menyangkut keakayaan bersih tetapi juga meliputi pembersihan diri dan kekayaan (tazkiyah)