IMPLEMENTATION OF SHARIA-BASED FINANCIAL SYSTEM BY OJK: PROMOTING A SUSTAINABLE AND INCLUSIVE ECONOMY
Main Article Content
Krisna Rizqi Adi Hibatullah*
Naufal Luthfi Ramadhan
Endang Kartini Panggiarti
The OJK plays a pivotal role in developing financial products that adhere to Shariah principles, as well as promoting financial inclusion through the expansion of microfinance and the enhancement of the infrastructure and ecosystem of the Shariah financial sector. Furthermore, the OJK actively engages in fostering Shariah financial literacy within the community and collaborates with various stakeholders to improve accessibility to Shariah finance. This article aims to examine the implementation of a Shariah-based financial system by the Financial Services Authority (OJK) with the aim of fostering sustainable and inclusive economic growth. The research methodology employed in this article is qualitative descriptive research, which elucidates the Shariah financial system implemented by the OJK to drive sustainable and inclusive economics. This article underscores the importance of sustainable economic growth and emphasizes the necessity of cooperation between the government, private sector, civil society, and international institutions to achieve these objectives. The OJK assumes a critical role in overseeing and ensuring the compliance of financial institutions with Shariah principles, while also advocating for awareness and understanding of Shariah finance and its associated benefits through educational and training programs. This article highlights the significance of enhancing awareness and understanding of the Shariah-based financial system among Indonesian society, and proposes measures that can be undertaken by the OJK to promote this objective. It underscores the importance of public education and awareness programs aimed at increasing knowledge and appreciation of Shariah finance, thereby contributing to a more sustainable and inclusive economic landscape in Indonesia.
Akbar, T., & Nabiha, A. K. S. (2019). Performance of Islamic microfinance banks: the case of a developing country. KnE Social Sciences, 268–288.
Alim, Y. (2017). Penerapan Prinsip-Prinsip Tentang Perbankan Syariah Hubungannya Dengan Otoritas Jasa Keuangan. Lex Crimen, 6(1).
Andiko, T. (2018). Signifikansi implementasi konsep Ekonomi Islam dalam transaksi bisnis di era modern. JURNAL ILMIAH MIZANI: Wacana Hukum, Ekonomi, Dan Keagamaan, 4(1), 9–22.
Fitriyanti, F., Akbar, M. F., Syamsu, A. P., & Nurhaifa, R. F. (2023). Application of Sharia Principles in Sharia Financial Institutions. Fiat Justisia: Jurnal Ilmu Hukum, 17(2), 157–166.
Hassan, A., AlMaghaireh, A. I., & Islam, M. S. (2022). Islamic Financial Markets and Institutions. Taylor & Francis.
Ika Swasti Putri, S. H. E. F. (2021). Dampak Fintech Syariah Dalam Meningkatkan Keuangan Inklusif Pada UMKM Di Indonesia. Journal of Marketing And Commerce, 6(1).
Lahti, T., Wincent, J., & Parida, V. (2018). A definition and theoretical review of the circular economy, value creation, and sustainable business models: where are we now and where should research move in the future? Sustainability, 10(8), 2799.
Maku, Y. A. D. (2017). Penerapan Prinsip-Prinsip tentang Perbankan Syariah Hubungannya dengan Otoritas Jasa Keuangan. Lex Crimen, 6(1).
Marlina, L., & Rahmat, B. Z. (2018). Peran Lembaga Keuangan Syariah Dalam Mengimplementasikan Keuangan Inklusif Bagi Pelaku UMKM Tasikmalaya. Jurnal Ecodemica, 2(1).
Moertiono, R. J., Syahbudi, M., & Siregar, S. (2021). Implementation Of Good Governance Business Sharia (Ggbs) In Islamic Banking In Indonesia. At-Tijaroh: Jurnal Ilmu Manajemen Dan Bisnis Islam, 7(2), 158–176.
Muzdalifa, I., Rahma, I. A., Novalia, B. G., & Rafsanjani, H. (2018). Peran fintech dalam meningkatkan keuangan inklusif pada UMKM di Indonesia (pendekatan keuangan syariah). Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 3(1), 1–24.
Nurfalah, I., & Rusydiana, A. S. (2019). Digitalisasi Keuangan Syariah Menuju Keuangan Inklusif: Kerangka Maqashid Syariah. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 11(1). https://doi.org/10.35313/ekspansi.v11i1.1205
Punagi, M., & Fauzi, A. (2022). Analysis Of Factors Affecting Of Return On Assets Of Banking Companies Before And During Covid-19 Pandemic. Journal Of Management, Accounting, General Finance And International Economic Issues (MARGINAL), 2(1), 86–99. https://doi.org/https://doi.org/10.55047/marginal.v2i1.357
Rifa’i, A. (2017). Peran Bank Pembiayaan Rakyat Syariah dalam Mengimplementasikan Keuangan Inklusif Melalui Pembiayaan UMKM. IKONOMIKA, 2(2). https://doi.org/10.24042/febi.v2i2.1639
Sama, L. M., Stefanidis, A., & Horak, S. (2020). Business ethics for a global society: Howard Bowen’s legacy and the foundations of United Nations’ sustainable development goals. International Studies of Management & Organization, 50(3), 201–208.
Tufail, M., Song, L., Umut, A., Ismailova, N., & Kuldasheva, Z. (2022). Does financial inclusion promote a green economic system? Evaluating the role of energy efficiency. Economic Research-Ekonomska Istraživanja, 35(1), 6780–6800.