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Beyond Prohibitions: Unveiling the Hidden Dynamics of Islamic Economics and Finance

Journal of Islamic Monetary Economics and Finance · Vol. 12 No. 1 (2026) · hlm. 81–106

DOI
10.21098/jimf.v12i1.2781
ISSN
2460-6618, 2460-6146
Terbit
2026-02-26
Penerbit
Bank Indonesia
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-nc/4.0

Abstrak

Despite theoretical differences between conventional and Islamic finance, critics argue that Islamic finance remains operationally similar to conventional finance. This apparent convergence in substance has led to growing disillusionment among stakeholders, prompting calls for a reassessment of the objectives and principles underlying Islamic finance. The objective of this study is twofold: first, to conduct a comprehensive comparative analysis between Islamic finance and conventional finance, and second, to explore the hidden dynamics of Islamic economics and finance by investigating its special theoretical features. By conducting intensive library research and reviewing main studies in Islamic economics and Finance, this study examines the salient features of Islamic economics and finance. The study identifies several hidden dynamics, including the role of money as a medium of exchange, prohibition of debt securitization, financing real sector development, the role of Islamic finance in infrastructure development, and the impact of Shariah screening mechanisms on stock market crashes. By examining the salient features of Islamic Economics and Finance, this research aims to provide theoretical insights that will contribute to academic literature, while also guiding regulators and industry practitioners in innovating financial products that more authentically embody the ethical spirit of Islamic finance.

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  • İstanbul Sabahattin Zaim Üniversitesi
  • Universiti Sains Islam Malaysia
  • Universitas Islam Negeri Sultanah Nahrasiyah Lhokseumawe
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Rekan penulisOrganisasiArtikel bersama
Siti NajmaUniversitas Islam Negeri Sultanah Nahrasiyah Lhokseumawe1
IskandarAfiliasi tidak diketahui1
Rauzatul JannahAfiliasi tidak diketahui1
Hussein ‘Azeemi Abdullah ThaidiUniversiti Sains Islam Malaysia1

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Sumber metadata: OAI-PMH (metadata jurnal) http://www.jimf-bi.org/index.php/JIMF/oai, pertama di-harvest 9 Nov 2026, terakhir terlihat 9 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Beyond Prohibitions: Unveiling the Hidden Dynamics of Islamic Economics and Finance</dc:title>
	<dc:creator xml:lang="en">Uluyol, Burhan</dc:creator>
	<dc:subject xml:lang="en">Islamic economics, Islamic finance, Hidden dynamics, Silent feature.</dc:subject>
	<dc:description xml:lang="en">Despite theoretical differences between conventional and Islamic finance, critics argue that Islamic finance remains operationally similar to conventional finance. This apparent convergence in substance has led to growing disillusionment among stakeholders, prompting calls for a reassessment of the objectives and principles underlying Islamic finance. The objective of this study is twofold: first, to conduct a comprehensive comparative analysis between Islamic finance and conventional finance, and second, to explore the hidden dynamics of Islamic economics and finance by investigating its special theoretical features. By conducting intensive library research and reviewing main studies in Islamic economics and Finance, this study examines the salient features of Islamic economics and finance. The study identifies several hidden dynamics, including the role of money as a medium of exchange, prohibition of debt securitization, financing real sector development, the role of Islamic finance in infrastructure development, and the impact of Shariah screening mechanisms on stock market crashes. By examining the salient features of Islamic Economics and Finance, this research aims to provide theoretical insights that will contribute to academic literature, while also guiding regulators and industry practitioners in innovating financial products that more authentically embody the ethical spirit of Islamic finance.</dc:description>
	<dc:publisher xml:lang="en">Bank Indonesia</dc:publisher>
	<dc:date>2026-02-26</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://jimf-bi.org/JIMF/article/view/2781</dc:identifier>
	<dc:identifier>10.21098/jimf.v12i1.2781</dc:identifier>
	<dc:source xml:lang="en">Journal of Islamic Monetary Economics and Finance; Vol. 12 No. 1 (2026); 81-106</dc:source>
	<dc:source>2460-6618</dc:source>
	<dc:source>2460-6146</dc:source>
	<dc:source>10.21098/jimf.v12i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://jimf-bi.org/JIMF/article/view/2781/1030</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Journal of Islamic Monetary Economics and Finance</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-nc/4.0</dc:rights>
</oai_dc:dc>