STRENGTHENING INDONESIA'S ECONOMIC RESILIENCE THROUGH ISLAMIC ECONOMIC LAW: A MIXED-METHODS ANALYSIS OF ZAKAT, WAQF, AND SOVEREIGN GREEN SUKUK
DOI:
https://doi.org/10.55252/annawawi.v5i2.85Keywords:
Islamic Economic Law, Zakat, Waqf, Sovereign Green Sukuk, Mixed Methods, Maqashid al-ShariahAbstract
Indonesia, as the world's largest Muslim-majority country, possesses substantial potential for leveraging Islamic economic instruments to advance inclusive and sustainable national development. This study investigates the contribution of Islamic Economic Law to strengthening Indonesia's economic resilience through three interrelated instruments: zakat, waqf, and Sovereign Green Sukuk (SGS). A mixed-methods research design is employed, integrating qualitative content analysis of fatwas issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and related regulatory frameworks with quantitative analysis of secondary data obtained from BAZNAS, BWI, and the Ministry of Finance for the period 2018–2024. The findings indicate that zakat and waqf collectively contributed IDR 62.3 trillion to poverty alleviation and social programs, while Sovereign Green Sukuk issuance reached USD 6.5 billion, financing green infrastructure consistent with maqashid al-shariah objectives. Panel regression results demonstrate a statistically significant positive relationship between the utilization of Islamic economic instruments and regional GDP growth (p < 0.05). Qualitative analysis further reveals that the istinbath methodologies employed by DSN-MUI successfully reconcile classical fiqh principles with contemporary financial innovation. The study concludes that integrating traditional Islamic philanthropy with modern sharia-compliant financial instruments, grounded in a coherent Islamic Economic Law framework, represents a viable pathway toward Indonesia's Sustainable Development Goals.
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