Alfina Damayanti, Arnelia Putri Pratiwi, Dea Safitri, Gama Pratama, Muhammad Nurjati, Muhammad Risna Munandar, Rini Rizkiyana Ulfa, Saefullah Fatah, Tia Nurazizah

Mekanisme Penciptaan Uang dalam Lembaga Keuangan Syariah: Antara Prinsip Kehati-hatian dan Fungsi Intermediasi

Introduction

Mekanisme penciptaan uang dalam lembaga keuangan syariah: antara prinsip kehati-hatian dan fungsi intermediasi. Analisis mekanisme penciptaan uang di lembaga keuangan syariah, menyoroti prinsip kehati-hatian dan fungsi intermediasi. Temukan peran aset riil & kontrak syariah dalam moneter Islam yang adil & stabil.

Abstract

This study analyzes the mechanism of money creation in Islamic financial institutions by highlighting its relationship to the principle of prudence and the intermediation function. The research background is based on the growth of Indonesia's sharia capital market which by 2025 will reach a capitalization of IDR 5,060 trillion, but still faces conceptual challenges regarding how money is created according to the principles of maqashid al-shariah. The method used is Systematic Literature Review (SLR) with PRISMA guidance on 38 relevant scientific articles. The results of the study show that money creation in the sharia system only occurs through real asset-based economic activities, in contrast to the conventional system that relies on credit and interest expansion. The intermediation function is carried out through partnerships that prioritize proportional sharing of risk and profit, while the prudential principle ensures that monetary expansion remains under control. In addition, research has found that sharia contracts such as murabahah, mudarabah, and musharakah play a role in encouraging productive money circulation while suppressing speculative activities. This study concludes that the integration between the moral and economic dimensions forms a just, stable, and sustainable Islamic monetary paradigm. These findings make a conceptual contribution to strengthening Islamic financial policy in Indonesia, especially in formulating a monetary regulatory framework that is in line with the principles of distributive justice, transparency, and protection of the stability of the national financial system.

Review

This study critically examines the mechanism of money creation within Islamic financial institutions, skillfully connecting it to the fundamental principles of prudence and intermediation. The paper addresses a highly pertinent and conceptually challenging area, especially given the rapid growth of Indonesia's sharia capital market and the ongoing need to align financial practices with *maqashid al-shariah*. The choice of a Systematic Literature Review (SLR) guided by PRISMA methodology, covering 38 relevant articles, lends significant rigor and breadth to the research, establishing a solid foundation for its findings. This methodological strength ensures a comprehensive and systematic analysis of existing scholarly discourse on a complex topic. The core findings illuminate a fundamental divergence between Islamic and conventional financial systems. The research effectively demonstrates that money creation in the sharia system is inherently tied to real asset-based economic activities, a stark contrast to the credit and interest expansion characteristic of conventional models. This distinction is further elaborated by showing how the intermediation function operates through risk- and profit-sharing partnerships, with the principle of prudence diligently ensuring controlled monetary expansion. Furthermore, the study highlights the crucial role of specific sharia contracts, such as *murabahah*, *mudarabah*, and *musharakah*, in fostering productive economic circulation and mitigating speculative activities, thereby reinforcing a more equitable and stable financial ecosystem. The conceptual contribution of this study is substantial, providing a robust framework for understanding a just, stable, and sustainable Islamic monetary paradigm rooted in the integration of moral and economic dimensions. Its implications for policy-making in Indonesia are particularly noteworthy, offering valuable insights for strengthening Islamic financial policy and formulating a monetary regulatory framework that champions distributive justice, transparency, and national financial stability. While primarily a conceptual contribution through SLR, the clarity it brings lays a crucial foundation for subsequent empirical investigations into the practical implementation and economic impact of these distinct money creation mechanisms. Overall, this paper makes a significant and timely contribution to Islamic finance literature and policy discourse.

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