This Android application is the Theory of Sharia Economic Law. In PDF format.

Author : M. Cholil Nafis, LC., Ph. D.

Only in Indonesia do they use the terms "Sharia Economy", "Sharia Bank", "Sharia Insurance", "Sharia Capital Market," and so on. In other countries it is referred to as "Islamic Economics", "Islamic Economics", or "Islamic Banking". This is because in the 90s, during the reign of the New Order, the government contracted "Islam Phobia" towards political Islamic movements. So any issue or movement that mentions the name of Islam is feared to threaten national stability and disrupt the authority of the government. Therefore, an economic movement based on Islamic teachings must avoid the word "Islam" in its mention for the sake of its sustainability. So the term "sharia" was chosen to refer to economic and financial behavior based on Islamic teachings.

Sharia economics has now become popular in the community and has become a term in Indonesia to replace the term "Islamic economics". Now the terms Sharia Bank, Sharia Insurance, Sharia Pawnshop, Sharia Capital Market have emerged, and the terms Sharia Hotel and Sharia Travel have even emerged.

In practice, in Indonesia Islamic Financial Institutions must comply with the provisions of Islamic law. This Islamic law is determined by a fatwa decision issued by the Indonesian Ulema Council (MUI) through the National Sharia Council (DSN). The characteristics of fatwas which are not binding on anyone, then become binding on sharia economic practitioners because fatwas are strengthened and determined to be sharia compliance standards by laws and regulations.

This book is a Dissertation of the Doctor of Philosophy (Ph.D.) Program at the University of Malaya, Malaysia which attempts to explore the sharia economic law enforcement method (thuruq istinbath al-ahkam) used by the Indonesian Ulema Council. This is because all fatwa products issued by the MUI automatically become a source of national law on sharia economics. MUI is an institution that represents various styles of Islamic thought in Indonesia because its management comes from various Islamic organizations. So the style of legal thinking in the MUI fatwa reflects the diversity of the Islamic community in Indonesia. Then, the content of this book review reviews the absorption of DSN-MUI fatwas into national law.

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