Role Policy Fiscal And Monetary In Realize Stability Economy Islam

Abstract

Economic stability is the primary objective of the Islamic economic system because it is directly related to the protection of welfare, distributive justice, sustainable growth, and the prevention of social damage caused by poverty, inflation, inequality, and financial crises. This article discusses the role of fiscal and monetary policies in realizing Islamic economic stability by placing the principles of maqāṣid al-sharī'ah, the prohibition of usury, justice, social responsibility, and the relationship between the financial sector and the real sector as the main analytical framework. The research method used is a literature study with a qualitative descriptive-analytical approach to academic literature, journal articles, scientific books, and the results of recent research on zakat, waqf, sukuk, Islamic banking, financial stability, and the transmission of monetary policy in the Islamic financial system. The results of the discussion show that Islamic fiscal policy works not only through taxes and state spending, but also through instruments of zakat, infaq, sedekah, waqf, and public asset management that aim to strengthen the purchasing power of vulnerable groups, reduce inequality, and maintain aggregate demand. Meanwhile, Islamic monetary policy is aimed at maintaining the stability of the value of money, controlling liquidity, encouraging productive financing, and avoiding excessive speculation. Synergy between the two is necessary so that economic stability is not only defined as low inflation and positive growth, but also as achieving social justice, financial inclusion, balance between the real and financial sectors, and sustainable public welfare.