The Discourse of Qanun Aceh Number 11 Year 2018 Concerning Sharia Financial Institutions in the Economic Approach

DOI

10.2991/assehr.k.211014.013How to use a DOI?

Keywords

Qanun, Aceh, economic approach

Abstract

This research purposes to discover about the economic point of view of the law in the Policy of Qanun Number 11 year 2018 concerning Sharia Financial Institutions in Aceh Province. This research is a prescriptive doctrinal law research. The approach used is a conceptual approach which is the researchers based on the view of experts (expert) in building arguments. In this case, the view of experts that used is the idea of Richard A. Posner as the basic to build an economic approach argumentative to the law. The data analysis technique used is qualitative. The results showed that based on the theory from Posner, the policy of the formulate of the Qanun Sharia Financial Institutions was parallel to the theory of wealth maximization (Wealth Maximization Theory) with the indicator of Article 5 which stated that the objectives of the Qanun include to; encourage increase Aceh Original Revenue; increase the access of funding and business for the community; help the increase of economic empowerment and social productivity; and help the increase of social income and welfare. According to the theory of Cost and Benefit Analysis (CBA) the policy of converting from conventional banks to Sharia banks provide benefits to Sharia banks. Meanwhile according to the theory of Behavioral of Law and Economy analyzed using three approaches namely; a positive approach, it was concluded that the implementation of the Qanun will bring positive results for banking performance improvement and public awareness in carrying out economic activities based on sharia principles will make the level of default risk decreases; the prescription approach for the implementation of the Qanun is to avoid economic activities that are incompatible with Sharia principles; the normative approach confirms the enactment of the Qanun to help increase income and welfare of the society.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Luthfiyah Trini Hastuti
AU  - Pujiyono
AU  - Burhanudin Harahap
PY  - 2021
DA  - 2021/10/16
TI  - The Discourse of Qanun Aceh Number 11 Year 2018 Concerning Sharia Financial Institutions in the Economic Approach
BT  - Proceedings of the International Conference on Environmental and Energy Policy (ICEEP 2021)
PB  - Atlantis Press
SP  - 50
EP  - 55
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211014.013
DO  - 10.2991/assehr.k.211014.013
ID  - Hastuti2021
ER  -