Penerapan Konsep Moneter Islam dalam Kebijakan Moneter di Indonesia menurut Pandangan M. Umer Chapra

Abstract

Purpose: The economic success of a country is largely determined by the right determination of monetary policy. The aim of this research is to maintain the stability of the country's economy. The main focus of this research is to discuss M. Umar Chapra's thoughts in the field of Islamic monetary economics.

Design/methodology/approach: The research method used is a qualitative research method. The type of research used is a descriptive qualitative method with a literature approach (literature study). This research uses secondary data, where the data collection technique used is by collecting previously existing data, such as articles, books, websites, and other works related to the subject of discussion.

Findings: The author finds that Chapra's economic thinking is a combination of traditional sciences, religious knowledge, and modern economics. His thoughts are dominated by the field of macroeconomics because he is much involved in the world of the country's economy.

Research Implication: According to M Umer Chapra regarding monetary policy, it does not have to reform the economy and society in line with Islamic lines but requires the role of the government and all matters related to state policy including fiscal, monetary and income must be in line.

Originality/value: M. Umar Chapra's view, not only must reform the economy and society in line with Islamic lines, but also requires a positive role for the government and all state policies, including fiscal, monetary and income, must run in harmony. For countries that are dominated by population Muslims who do not yet use an economy based on Islamic law are expected to switch to a system that is in accordance with the guidance of the Qur'an and al-Hadith or what we know as the Islamic economic system.