MONETARY POLICY AGAINST REVIEW FROM  AN ISLAMIC PERSPECTIVE

Maryam Batubara; Mukhlis

doi:10.54443/ijebas.v3i3.914

Vol. 3 No. 3 (2023): June

Open Access

Peer Reviewed

MONETARY POLICY AGAINST REVIEW FROM AN ISLAMIC PERSPECTIVE

Authors

Maryam Batubara , Mukhlis

DOI:

10.54443/ijebas.v3i3.914

Published:

2023-05-23

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Abstract

Monetary policy was designed by the Indonesian government in 1953 based on Law no. 11 of 1953 concerning Principles of Bank Indonesia as a substitute for Javasche Bank Wet of 1922. Law No. 11 of 1953 was the basis for the formation of the Monetary Board in which the Minister of Finance acted as Chairman, while the Minister of Economy and the Governor of Bank Indonesia as Members. The Monetary Board has duties and powers closely related to controlling monetary conditions. According to the Big Indonesian Dictionary (KBBI) monetary is where the value of the currency greatly influences economic conditions. At the time of the Prophet, the monetary policy was implemented by using the standard bimetallic, namely gold and silver (dirhams and dinars) because both of them were legal tender and circulated in society.

Keywords:

Policy, Monetary, Islamic Perspective.

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Author Biographies

Maryam Batubara, Universitas Islam Negeri Sumatera Utara

Mukhlis, Universitas Islam Negeri Sumatera Utara

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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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How to Cite

Maryam Batubara, & Mukhlis. (2023). MONETARY POLICY AGAINST REVIEW FROM AN ISLAMIC PERSPECTIVE. International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS), 3(3), 752–757. https://doi.org/10.54443/ijebas.v3i3.914