Wednesday 16 January 2008

Irfan Syauqi Beik
Lecturer in Economics-Economics and Management Faculty Bogor Agricultural University and Ph.D Candidate in IIU Malaysia

The real sector growth of national economics seem to be a main challenge of Indonesian government entering 2008, although Presiden SBY feel optimistic about national economic prospect. SBY’s argumentation is based on national economi growth on 2007 that reach 6.3 percent. Also the IHSG that growth 52 percent which make our stock exchange have second best performance in Asia at 2007.
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On the contrary, this macroeconomical betterment doesn’t followed by the growth on real sector. The impact is a number of main problem like unemployment and poverty remained as government’s homework.
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The writer argue that without a will to start transformation of financial system into sharia system, Indonesia will be trapped by the same problem called real sector stagnation (no matter whether monetary condition is good). Because there is a kind of missing link.
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The alternative policy proposed by the writer including: the enforcement of intermediation role of national banking on funding and investmen in riil sector; building the linkage among sharia bank with sharia credit people bank, baitul maal wat tamwil, and sharia cooperation; and the potential of zakat, infaq and waqf.
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For example, the big potential of waqf land Indonesia that reach 1.400 km2 with valuation more than 590 trillion rupiahs.

Keywords: sharia economics, sharia financial system, waqf, BUMN, BMT, BAZNAS, Bank of Indonesia, BI, BWI, zakat, infaq, economic system, real sector, capitalism, Islamic economic.

Original source: Sharia Real Sectror’s Policy Alternative