Prof Dr Euis Amalia: a holistic and integrative islamic economics need to be developed in Indonesia

Main Auditorium, UIN News Online – Current policies for the development of the Islamic economic system in Indonesia need to be carried out holistically, comprehensively and integratively. This is because the Islamic economic system not only develops Islamic banking, non-bank Islamic finance, capital markets, or halal business, but also community behavior based on Islamic economic values in consumption, production and investment choices.

This was said by the lecturer of Economics and business faculty (FEB) UIN Jakarta Euis Amalia in her inauguration speech as Professor of Islamic Economics at the Auditorium Harun Nasution UIN Jakarta, Tuesday (01/12/2020). “The contour and anotomy of Islamic economics are  based on prophetic values (nubuwwah, ilahiyyah). The goal is to realize maqashid sharia (sharia objectives) and falah (community welfare),” she said.

The Islamic economic system also has norms, rules and behavior which are developed with four main instruments, namely being free from riba, gharar, maisir, haram, tadlis, and risywah; enforcing sharia transaction contracts, especially profit and loss sharing systems; implementing zakat; and investment development for halal and Thayyib commodities.

Euis also added that the development of the Islamic economic system in Indonesia is currently being developed in the form of banking, non-bank Islamic finance, capital markets and halal business. However, these sub-systems are not cosidered as an integrated, comprehensive, and holistic system.

“This can also be seen from the lack of public behavior based on Islamic economic values in consumption, production and investment choices,” said Euis.

Therefore, one of the strategic efforts that can be chosen is the strengthening of regulations and policies acceleration to support Islamic economic growth for an advanced and sustainable Indonesian economy.

“Islamic economic development is seen as a solution to exploitative economic systems. The goal is to prosper the people's economy,” she added.

However, Euis continued, , the facts show that the development of the Indonesian Islamic economy has been more focused on Islamic banking and finance rather than establishing a holistic, comprehensive, and integrative Islamic economic system.

“I think this acceleration effort is very important in developing an integrated Islamic economic system. This was carried out in the context of realizing a just and sustainable Indonesian economy through various responsive policies that are responsive to the welfare of the community,” said Euis.

The inauguration ceremony for Professor Euis Amalia was opened in an Open Session chaired by the Chair of the University Senate Abuddin Nata. Also present in the event, the Rector of UIN Jakarta Amany Lubis, the Vice Rectors, professors, and colleagues. On the same occasion, Djawahir Hejazzey was also confirmed as Professor of Islamic Economics at the Faculty of Sharia and Law (usa/ns)