KADIN: SHARIA ECONOMY MOST SUITABLE FOR INDONESIA

Jakarta, 19 Ramadan 1436/6 July 2015 (MINA) – Sharia economy which is based on the principles of Islam, according to the Deputy Chairman of the Indonesian Chamber of Commerce (Kadin), Benny Sutrisno, is very appropriate to be applied in Indonesia.

Sharia economy is considered as the most suitable economic model to be applied in Indonesia. Mr. Sutrisno argued that the principles of sharing profits and losses in sharia economy is ideal for Indonesian economy which is 95 percent dominated by small and medium businesses.

“Sharia economy is an economy based on the principle of Islamic economics. The Islamic values related to the economic principles are very broad. In sharia economy, interests, and usury are forbidden. Mutual help in goodness is the characteristic of Islamic economics,” he said on Sunday (5/7).

According to him, currently many non-Muslim countries have widely implemented sharia economy. The potential for Islamic economic is very high. Islamic economics experience a rapid growth. In fact, sharia economy is able to continue to rise since the 1998 crisis. Infopublik quoted by Mi’raj Islamic News Agency (MINA) as reporting.

A growing trend of dissatisfaction with conventional economics has raised interests in finding an alternative paradigm leading to the revival of Islamic economics over the last few decades. Islamic economics may provide solutions to existing problems in the financial markets as well as its contribution and potentials to address development challenges.

Prof Zubair Hassan, a prominent Sharia economics scholar, argued that current world situation has been a solid proof of the failure of capitalist economic systems to improve equality and welfare. The capitalist system has created massive capital accumulation in the last five decades since 1950, far bigger than the capital accumulated from the period of the prophet Adam to 1950.(T/P008/R03)

Mi’raj Islamic News Agency (MINA)