Regulations related to the establishment and development of sharia financial institutions in Indonesia

Hidayat, Yusup (2018) Regulations related to the establishment and development of sharia financial institutions in Indonesia. Journal of Legal, Ethical and Regulatory Issues, 21 (4). pp. 1-9. ISSN 1544-0044

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Abstract

One of the basic principles of sharia economy is the value of social justice. The treasure must be spread to various circles of society and should not be gathered only to a handful of people. The distribution of this wealth must be implemented in policy both in the form of a fatwa of the National Sharia Council of the Indonesian Ulema Council which is the institution authorized to issue fatwas related to sharia economy as well as in the form of legislation that becomes the domain of the legislative institution which is then implemented by the executive institution. Implementation of the principle of social justice in sharia economy in Indonesia is an important part in realizing the ideals of the Indonesian nation in realizing social justice for all Indonesian people as stated in the Preamble of the 1945 Constitution.

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