Maqasid Shariah’s View and Its Solution on Foreign Debt in Indonesia

Abstract

This study entitled Maqasid Shariah’s View and Its Solution on Foreign Debt in Indonesia, aims to know the concept of debt from Islamic perspective and to analyze current issues on foreign debt in Indonesia. Since economic crisis happened in European countries,Indonesia needs to be more careful in considering the impacts of the crisis. One of the causes was because of the high level of interest of the debts. It made most of crisis happened in many countries hard to pay back their debts. Therefore, it is needed to know how Islamic principles see the concept of debt and give the solution to the problem of debt by using Maqasid’s approach. It can give comprehensive solution to the debt because it covers five dimensions: religion, self, intellect, family and wealth, which are very important in human life to attain the happiness and welfare on earth. The study will conclude with some suggestions for futureΒ research.

Author:
Nurizal Ismail, M.A & Baiq Rosmala Dewi, S.E.I.
Department of Islamic Economics, Tazkia University College of Islamic Economics, Bogor, Indonesia.

(Paper presented at the 2nd International Conference on Islamic Economics and Economy of the OIC Countries, Malaysia 2013, published onΒ Global Review of Islamic Economics and Business, Vol. 1, No.3 (2014) 229-239 Faculty of Islamic Economics and Business-State Islamic University Sunan Kalijaga Yogyakarta).

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Lombok Island – The Island of Incredibly Breathtaking Beaches

Panorama of an overhanging palm tree at Nippah Beach on tropical Lombok Island, Indonesia, Southeast Asia, Asia

Are you setting up some holiday plans oversea? I recommend you to put Lombok Island in your list! πŸ˜‰ Lombok Island is a small beautiful island located in West Nusa Tenggara Province, Indonesia.
The island is surrounded by a number of smaller islands locally called Gilli. The total area of the island is 4,515 km2 (approx. 1,743 sq mil) and the capital (as well as) the largest city on the island is Mataram. Mount Rinjani is one thing that cannot be separated from the island (3.726 m/12,224 ft). This highest point of Lombok Island has a lake called Segara Anak.Read More »