Harmonization of Sharia and Conventional Banking  Regulations Based on Maqasid Sharia

Hardifa Pratama; Muhajirin Muhajirin; Muhammad Alwi  Dalimunthe; Johari Johari; Arkan Fawwaz   Prasetia

doi:10.36378/internationalconferenceuniks.v3i1.4830

Hardifa Pratama IAI IMAM SYAFII INDONESIA
Muhajirin Muhajirin IAI IMAM SYAFII INDONESIA
Muhammad Alwi Dalimunthe IAI IMAM SYAFII INDONESIA
Johari Johari Universitas Islam Negeri Sulthan Syarif Kasim Riau
Arkan Fawwaz Prasetia IAI IMAM SYAFII INDONESIA

DOI: https://doi.org/10.36378/internationalconferenceuniks.v3i1.4830

Keywords: Regulation Harmonization, Maqasid Sharia, Islamic Banking, Islamic Economic Law, Dual Banking.

Abstract

This study aims to evaluate the harmonization of regulations between Islamic banking and conventional banking in Indonesia within the framework of the maqasid sharia and examine its implications for the development of Islamic economic law. In the context of Indonesia's dual banking system, regulatory imbalances are found between the two systems, particularly in terms of basic principles, institutional structure, and oversight and reporting mechanisms. National regulations, which tend to adopt a conventional paradigm, have not been able to fully accommodate the values of maqasid sharia in a substantial manner. This study uses a qualitative approach with descriptive-normative methods and library research techniques that focus on the analysis of primary and secondary legal documents such as laws, OJK regulations, DSN-MUI fatwas, and related scientific literature. The results indicate that regulatory disharmony has resulted in weak protection of maqasid principles, particularly in terms of contractual fairness, consumer protection, and differentiation of Islamic financial products. This study recommends a hybrid regulatory model based on the maqasid sharia, emphasizing collaboration between regulators and fatwa authorities to produce policies that are more inclusive, ethical, and relevant to the national economic context. These findings provide an important contribution to formulating a new direction for Islamic economic law in Indonesia that is adaptive to global dynamics while remaining rooted in sharia values.

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