MUHAMMAD IBNU SOIM: Fiskal dan Moneter

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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">BAB I</span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">PENDAHULUAN</span></b></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Kegemparan krisis <i style="mso-bidi-font-style: normal;">financial</i> di Amerika Serikat dengan Lehman Brother sebagai <i style="mso-bidi-font-style: normal;">episentrum</i>-nya membuat kondisi di dua
negara kisruh Gelombang krisis yang hampir menyerbu ke hampir semua benua itu,
termasuk Indonesia memaksa pemerintah melakukan tindakan <i>safety</i>. Salah
satu tindakannya adalah mengamankan APBN. Tindakan <i>safety </i>ini memaksa
Paskah Suzzeta, ketua Badan Perencanaan Pembangunan Nasional pergi ke New York
dalam rangka menghadiri sidang tahunan IMF. </span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Tindakannya kali ini benar-benar mendapat
sorotan tajam. Pasalnya keberangkatannya dicurigai hendak meyodorkan proposal
pinjaman lunak ke Bank Dunia dalam rangka penyelamatan APBN. Tentu saja ini hal
yang wajar dalam ‘gerak’ langkah suatu negara dalam kebijakan fiskal-nya. Namun
dalam situasi pemulihan ekonomi setelah diterjang ‘badai’ krisis Asia 1997,
langkah ini dinilai akan menyebabkan Indonesia kembali masuk ke <i style="mso-bidi-font-style: normal;">debt trap</i>. </span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Dari latar belakang diatas, maka disini
penulis akan menjelaskan makalah yang berjudul tentang Struktur dan Kebijakan
Moneter Dalam Ekonomi Islam secara terinci agar mudah untuk dimengerti dan
mudah untuk dipahami bersama guna mendapatkan ilmu yang bermanfaat.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">BAB II</span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">PEMBAHASAN</span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">STRUKTUR DAN KEBIJAKAN MONETER DALAM ISLAM</span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">A.<span style="font: 7.0pt "Times New Roman";">    </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">KEBIJAKAN MONETER DAN KEBIJAKAN FISKAL <i style="mso-bidi-font-style: normal;">AT A GLANCE</i></span></b></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Kebijakan <i style="mso-bidi-font-style: normal;">moneter</i>
adalah upaya mengendalikan atau mengarahkan perekonomian makro ke kondisi yang
diinginkan atau yang lebih baik dengan mengatur jumlah uang yang beredar.
Kebijakan <i style="mso-bidi-font-style: normal;">fiskal</i> adalah kebijakan
ekonomi yang digunakan pemerintah untuk mengelola/mengarahkan perekonomian yang
lebih baik atau diinginkan dengan cara mengubah-ubah penerimaan dan pengeluaran
pemerintah.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn1" name="_ftnref1" style="mso-footnote-id: ftn1;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[1]</span></span></span></span></a> Banyak
topik yang dibahas dalam kajian moneter dan fiskal dalam bidang ekonomi.
Terlepas dari topik tersebut, ada tiga alasan atau pertimbangan yang mendasari
belajar kebijakan moneter dan fiskal dalam ekonomi Islam.</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Dengan mempelajari kebijakan moneter dalam ekonomi Islam dapat diketahui
lebih mendalam bagaimana mekanisme uang, bagi hasil, lembaga keuangan, sistem
dan kebijaksanaan moneter, serta mekanisme ekonomi bagi hasil</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Menganalisis fenomena moneter dalam kaitannya dengan efek kebijaksanaan
moneter terhadap kegiatan ekonomi Islam</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Menganalisis mekanisme kebijakan fiskal dalam kaitannya dengan
pembangunan ekonomi berdasarkan prinsip bagi hasil.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn2" name="_ftnref2" style="mso-footnote-id: ftn2;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[2]</span></span></span></span></a>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">B.<span style="font: 7.0pt "Times New Roman";">     </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">KEBIJAKAN MONETER</span></b></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Ilmu
<i style="mso-bidi-font-style: normal;">moneter</i> dan fiskal adalah bidang
kajian ilmu ekonomi <i style="mso-bidi-font-style: normal;">moneter</i>. Ilmu
ekonomi <i style="mso-bidi-font-style: normal;">moneter</i> adalah bagian dari
ilmu ekonomi yang mempelajari tentang sifat dan pengaruh uang terhadap kegiatan
ekonomi. <span style="mso-spacerun: yes;"> </span>Banyak topi yang dibahas dalam
kajian <i style="mso-bidi-font-style: normal;">moneter</i> dan fiskal dalam
bidang ekonomi, diantaranya adalah peranan dan fungsi uang, sistem moneter dan
pengaruhnya terhadap jumlah uang dan kredit, struktur dan fungsi bank, pengaruh
uang dan kredit terhadap kegiatan ekonomi, stabilitas ekonomi, distribusi
pendapatan<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn3" name="_ftnref3" style="mso-footnote-id: ftn3;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;">[3]</span></span></span></span></a>. </span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Apa
sebenarnya tujuan kita mempelajari ilmu kebijakan moneter dan fiskal, utamanya
dalam ekonomi Islam? Secara umum adalah tiga alasan atau pertimbangan yang
mendasari belajar kebijakan <i style="mso-bidi-font-style: normal;">moneter</i>
dan fiskal dalam ekonomi Islam diantaranya adalah sebagai berikut:</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dengan
mempelajari kebijakan <i style="mso-bidi-font-style: normal;">moneter</i> dalam
ekonomi Islam dapat diketahui lebih mendalam bagaimana mekanisme uang, bagi
hasil, lembaga keuangan sistem dan kebijaksanaan <i style="mso-bidi-font-style: normal;">moneter</i> serta mekanisme ekonomi bagi hasil</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Menganalisis
fenomena <i style="mso-bidi-font-style: normal;">moneter</i> dalam kaitannya
dengan efek kebijaksanaan <i style="mso-bidi-font-style: normal;">moneter</i>
terhadap kegiatan ekonomi islami</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Menganilisis
mekanisme kebijakan fiskal dalam kaitannya dengan pembangunan ekonomi
berdasarkan prinsip bagi hasil.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn4" name="_ftnref4" style="mso-footnote-id: ftn4;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;">[4]</span></span></span></span></a></span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dengan demikian dapat menambah pemahaman kita
tentang berbagai hal yang berkaitan dengan uang, lembaga keuangan, kegiatan
ekonomi bagi hasil yang dewasa ini sedang marak. Dapat juga diketahui efek dari
penerapan kebijakan moneter dan fiskal terhadap upaya-upaya pencapaian
pembangunan ekonomi.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn5" name="_ftnref5" style="mso-footnote-id: ftn5;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;">[5]</span></span></span></span></a></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">C.<span style="font: 7.0pt "Times New Roman";">    </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">KEBIJAKAN MONETER: STRUKTUR,
INSTRUMEN, DAN TUJUAN</span></b></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-weight: bold; mso-themecolor: text1;">Uang dan bank </span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"></span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Uang merupakan bagian yang tidak dapat
dipisahkan dalam sistem ekonomi modern. Pentingnya uang ini muncul karena
adanya dorongan kegiatan pertukaran, sehingga uang pada mulanya dijadikan
sebagai alat tukar. Selain sebagai alat tukar, perkembangan lebih lanjut atas
fungsi uang adalah sebagai alat penyimpan nilai atau bahkan sebagai alat
penyimpan kekayaan. </span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Tetapi dari segi sistem <i>financial </i>secara
keseluruhan, dapat disimpulkan dua fungsi fundamental uang, yaitu:</span></div>
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<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">a)<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Memungkinkan terjadinya likuiditas secara mencukupi, sehingga produksi
dan tukar-menukar dapat terjadi secara wajar</span><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"></span></b></div>
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo8; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">b)<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-themecolor: text1;">Termobilisasinya pendapatan, sumber daya dan pengalokasiannya kepada
para investor secara sesuai. </span><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"></span></b></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; mso-list: l3 level1 lfo7; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-bidi-font-weight: bold; mso-themecolor: text1;">Instrumen Kebijakan
Moneter </span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;"></span></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Instrumen moneter yang dapat diterapkan
dalamm perekonomian Islam dapat ditempuh dengan dua instrumen besar, yaitu <i style="mso-bidi-font-style: normal;">kontrol</i> <i style="mso-bidi-font-style: normal;">kuantitatif</i> untuk penyaluran pembiayaan dan kontrol untuk
merealisasikan tujuan sosio ekonomi. Instrumen besar pertama (kontrol <i style="mso-bidi-font-style: normal;">kuantitatif</i> penyaluran pembiayaan)
didukung dengan instrumen moneter berupa: </span></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">a)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Statutory Reserve Requirement </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">b)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Financing Ceiling </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">c)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Government Deposits </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">d)<span style="font: 7.0pt "Times New Roman";">     </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Common Pool </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">e)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Moral Persuassion </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">f)<span style="font: 7.0pt "Times New Roman";">       </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Equity Base Instrument </span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l9 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">g)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Change In The Profit and Loss Sharing Ratio.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn6" name="_ftnref6" style="mso-footnote-id: ftn6;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[6]</span></b></span></span></span></a> </span></i></div>
<div class="Default" style="line-height: 150%;">
<br /></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; text-align: justify; text-indent: .25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Sementara instrumen moneter besar kedua
(merealisasikan tujuan sosio ekonomi) mencakup beberapa instrumen moneter <span style="mso-spacerun: yes;"> </span>diantaranya adalah sebagai berikut:</span></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l1 level1 lfo10; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">a)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Treating The Created Money as Fay’</span></i></div>
<div class="Default" style="line-height: 150%; margin-left: .75in; mso-list: l1 level1 lfo10; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">b)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Goal Oriented Allocation of Financing<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn7" name="_ftnref7" style="mso-footnote-id: ftn7;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[7]</span></b></span></span></span></a>. </span></i></div>
<div class="Default" style="line-height: 150%;">
<br /></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; mso-list: l3 level1 lfo7; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-bidi-font-weight: bold; mso-themecolor: text1;">Tujuan-tujuan
Kebijakan Moneter </span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;"></span></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Kebijakan moneter dalam Ekonomi Islam akan
mencoba mencapai tujuan dalam sektor sosio-ekonomi. Beberapa tujuan penting
yang dapat dirumuskan di sini, di antaranya: </span></div>
<div class="Default" style="line-height: 150%; margin-left: 63.5pt; mso-list: l10 level1 lfo11; text-align: justify; text-indent: -27.5pt;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">a)<span style="font: 7.0pt "Times New Roman";">            
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Ekonomi menjadi baik dengan tenaga kerja
penuh dan pertumbuhan ekonomi (<i>Economic well-being with full employment and
optimum rate of economic growth</i>); </span></div>
<div class="Default" style="line-height: 150%; margin-left: 63.5pt; mso-list: l10 level1 lfo11; text-align: justify; text-indent: -27.5pt;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">b)<span style="font: 7.0pt "Times New Roman";">           
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Keadilan sosio-ekonomi dan distribusi
pendapatan dan kekayan yang merata (<i>Sosio-economic justice and equitable
distribution of income and wealth</i>); </span></div>
<div class="Default" style="line-height: 150%; margin-left: 63.5pt; mso-list: l10 level1 lfo11; text-align: justify; text-indent: -27.5pt;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">c)<span style="font: 7.0pt "Times New Roman";">            
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Stabilitas nilai uang (<i>Stability in the
value of money</i>).<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn8" name="_ftnref8" style="mso-footnote-id: ftn8;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[8]</span></span></span></span></a></span></div>
<div class="Default" style="line-height: 150%;">
<br /></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Hal ini dapat dijelaskan bahwa keadilan
sosial-ekonomi dan kesesuaian distribusi pendapatan serta kesejahteraan
merupakan tujuan yang sangat penting bagi kebijakan moneter hanya dalam
kerangka Islam. Lebih-lebih, tujuan yang pertama dan ketiga yang dirumuskan di
atas akan nampak sama di permukaan, dan akan sangat kelihatan perbedaannya dari
sistem ekonomi yang ada.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn9" name="_ftnref9" style="mso-footnote-id: ftn9;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[9]</span></span></span></span></a>
</span></div>
<div class="Default" style="line-height: 150%; margin-left: .5in; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; mso-themecolor: text1;">Sistem ekonomi Islam adalah suatu sistem yang
didasarkan pada agama. Di dalam Islam, tujuan yang hendak dicapai tidak dapat
dipisahkan dari ideologi dan keyakinan. Tujuan membawa sanksi, dan sejauh
tujuan-tujuan tersebut didasarkan pada Al-Qur’an dan Sunnah, maka menjadi
keharusan, bukan persoalan tawar-menawar politik dan untung-untungan<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn10" name="_ftnref10" style="mso-footnote-id: ftn10;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;">[10]</span></span></span></span></a>.</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-list: l7 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">D.<span style="font: 7.0pt "Times New Roman";">    </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">SUMBER EKSPANSI MONETER</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Fungsi utama sistem moneter adalah
memperlengkapi kebutuhan transaksi masyarakat, khusunya dalam rangka
menumbuhkan ekonomi. Fungsi ini harus menjamin bahwa pertumbuhan <i style="mso-bidi-font-style: normal;">moneter</i> adalah memungkinkan atau tidak <i style="mso-bidi-font-style: normal;">excessive</i> atau <i style="mso-bidi-font-style: normal;">deficient</i>. <a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn11" name="_ftnref11" style="mso-footnote-id: ftn11;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;">[11]</span></span></span></span></a></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Oleh karena itu, kita perlu melihat dan
mengkontrol sumber-sumber ekspansi moneter. Dari sisi pendekatan ekonomi islam,
ada 3 sumber <i style="mso-bidi-font-style: normal;">ekspansi</i> <i style="mso-bidi-font-style: normal;">moneter</i>, yaitu: (1) <i style="mso-bidi-font-style: normal;">fiat money creation</i>; (2) <i style="mso-bidi-font-style: normal;">credit
money</i>; (3) <i style="mso-bidi-font-style: normal;">balance of payments
surplus</i>, berikut adalah penjelasan dari 3 sumber ekspansi moneter,
diantaranya adalah sebagai berikut:</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-list: l6 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Fiat Money Creation</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Bank
sentral membuat uang dikarenakan ada dua alasan. <i style="mso-bidi-font-style: normal;">Pertama</i>, ketika pemerintah secara langsung meminjam darinya. <i style="mso-bidi-font-style: normal;">Kedua</i>, ketika bank sentral memutuskan
melakukan “perluasan” kegiatan pasar terbuka? pada kasus <i style="mso-bidi-font-style: normal;">pertama</i>, pemerintah meminjam untuk kasus anggaran <i style="mso-bidi-font-style: normal;">defisit</i> dan pada kasus <i style="mso-bidi-font-style: normal;">kedua</i> bank sentral mencoba menstabilkan
ekonomi melalui kegiatan pasar terbuka.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dalam
Kasus pertama, bank sentral mencipta dan meminjamkan nominal uang kepada
pemerintah untuk mengendalikan perilaku bunga. Dalam sistem ekonomi Islam,
tidak ada <i style="mso-bidi-font-style: normal;">asset</i> yang dijalankan
dengan menggunakan bunga, yang berarti bahwa hal ini harus dilakukan untuk
asset bebas-bunga. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dalam
sistem ekonomi Islam, apapun yang dilakukan pemerintah, seharusnya mampu
menciptakan stabilitas harga. <i style="mso-bidi-font-style: normal;">Stabilitas</i>
harga merupakan hal penting dalam aplikasi ekonomi Islam. Kecuali itu,
pemerintah perlu mengendalikan <i style="mso-bidi-font-style: normal;">inflasi</i>.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 35.45pt; mso-add-space: auto; mso-list: l6 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Credit
Money</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Pada
sistem ekonomi saat ini, <i style="mso-bidi-font-style: normal;">deposit</i> bank
komersial merupakan bagian yang signifikan dari persediaan uang. <i style="mso-bidi-font-style: normal;">Deposit</i> ini dapat dibagi menjadi dua
bagian. <i style="mso-bidi-font-style: normal;">Pertama</i>, <i style="mso-bidi-font-style: normal;">Primery</i> <i style="mso-bidi-font-style: normal;">deposit</i> dan <i style="mso-bidi-font-style: normal;">kedua</i> <i style="mso-bidi-font-style: normal;">derivative</i> <i style="mso-bidi-font-style: normal;">deposit</i>. <span style="mso-spacerun: yes;"> </span><i style="mso-bidi-font-style: normal;">Primery
deposit</i> merupakan uang/modal dasar bank dan <i style="mso-bidi-font-style: normal;">derivative</i> <i style="mso-bidi-font-style: normal;">deposit</i>
merupakan cadangan <i style="mso-bidi-font-style: normal;">fraksional</i> yang
didapatkan bank komersial dari <i style="mso-bidi-font-style: normal;">ekstensi</i>
kredit, mengarah pada penambahan persediaan uang, seperti yang dilakukan
pemerintah atau bank sentral mencetak mata uang.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dalam
ekonomi Islam, penggalangan ini merupakan masalah penting, sehingga penciptaan
uang merupakan hak istimewa masyarakat, sehingga bank diizinkan untuk
memberikan kredit atau bank sentra akan menerapkan 100 % sebagai cadangan bank.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 35.45pt; mso-add-space: auto; mso-list: l6 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Balance
of payments surplus</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Keseimbangan
<i style="mso-bidi-font-style: normal;">surplus</i> pembayaran adalah sumber lain
dari <i style="mso-bidi-font-style: normal;">ekspansi</i> uang, tetapi hal ini
tidak begitu penting bagi negara Islam, sebab banyak negara Islam yang
mengalami <i style="mso-bidi-font-style: normal;">balance of payment deficits</i>
dan di beberapa negara mendapatkan nilai itu, pendekatan ini mengarahkan kepada
ekspansi otomatis pada persediaan uang. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Hal
ini akan terjadi jika Pemerintah mengeluarkan <i style="mso-bidi-font-style: normal;">surplusnya</i> di dalam Negeri dan sektor swasta. Keseimbangan <i style="mso-bidi-font-style: normal;">defisit</i> pembayaran tidak akan melanggar
ini secara memungkinkan. Jika pemerintah suatu negara mengeluarkan secara
teratur menurut kemampuan ekonomi untuk menghasilkan <i style="mso-bidi-font-style: normal;">supply</i>, maka tidak akan terjadi <i style="mso-bidi-font-style: normal;">inflasi</i>
sebagai akibat dari <i style="mso-bidi-font-style: normal;">balance of payments
surplus</i>.<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftn12" name="_ftnref12" style="mso-footnote-id: ftn12;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;">[12]</span></span></span></span></a></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-list: l7 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">E.<span style="font: 7.0pt "Times New Roman";">     </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">STRUKTUR KELEMBAGAAN</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Setiap sistem memiliki persyaratan unik dalam
mengendalikan struktur institusional yang akan menjamin berfungsinya sistem
secara baik. Apakah yang akan dijadikan itu struktur sistem <i style="mso-bidi-font-style: normal;">moneter</i> dan fiskal dalam sistem ekonomi
bebas-bunga, ini adalah permasalahan yang alami. Struktur organisasional sistem
moneter Islami adalah sama seperti dengan sistem yang sudah ada, tetapi model
operasinya sangat-sangat berbeda.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Ada beberapa struktur Kelembagaan Kebijakan
Moneter diantaranya adalah sebagai berikut:</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-list: l8 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">      </span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Bank
Sentral</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Bank
sentral adalah lembaga yang dipercaya mengelola persediaan uang dengan
melibatkan masalah <i style="mso-bidi-font-style: normal;">flat money</i> seperti
halnya pengawasan bank komersial. Bank sentral akan menentukan program tahunan
pertumbuhan persediaan uang yang diharapkan sesuai dengan tujuan ekonomi
nasioanal. Banyak uang yang diharapkan dapat dilakukan satu dari dua cara yang
ada. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dalam
skema waktu, bank sentral akan membukakan rekening <i style="mso-bidi-font-style: normal;">investasi</i> di bank-bank anggotanya. Pada skema yang lainnya, bank
sentral akan membagi Mo secara memadai bagi pemerintah seperti kredit bebas
bunga dan menempatkan ke bank komersial maupun lembaga kredit tertentu sebagai <i style="mso-bidi-font-style: normal;">Deposito</i> <i style="mso-bidi-font-style: normal;">Mudarabah</i>.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 35.45pt; mso-add-space: auto; mso-list: l8 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Bank Anggota</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Bank
dalam sistem Islam adalah bukan bank komersial tradisional (<i style="mso-bidi-font-style: normal;">konvesional</i>). Selanjutnya untuk
melengkapi jasa perbankan secara teratur mereka juga akan melakukan <i style="mso-bidi-font-style: normal;">investasi</i> langsung. Produk-produk
barunya dapat dilakukan dengan menekankan pada aktivitas investasi. Hal ini
dapat berbagai macam, diantaranya adalah sebagai berikut:</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 63.8pt; mso-add-space: auto; mso-list: l2 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">1)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Investasi Langsung</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 63.8pt; mso-add-space: auto; mso-list: l2 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">2)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Profit –sharing Ventures</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 63.8pt; mso-add-space: auto; mso-list: l2 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3)<span style="font: 7.0pt "Times New Roman";">      </span></span></span><i style="mso-bidi-font-style: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Central Deposit Certificate.</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 35.45pt; mso-add-space: auto; mso-list: l8 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-indent: -.25in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">     
</span></span></span><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Pembendaharaan</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Dalam
hal ini memiliki tiga cabang yaitu: Cabang <i style="mso-bidi-font-style: normal;">Distribusi</i>,
<i style="mso-bidi-font-style: normal;">alokasi</i>, dan cabang <i style="mso-bidi-font-style: normal;">market-correction</i>. Cabang distribusi
bertanggung jawab terhadap proses pengumpulan seperti halnya distribusi zakat.
Cabang alokasi akan mengalokasikan sumber-sumber yang ada pada bidang-bidang
kebutuhan pokok hidup masyarakat. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 150%; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Seperti:
layanan kesehatan, pendidikan, keamanan. Cabang <i style="mso-bidi-font-style: normal;">Market</i> <i style="mso-bidi-font-style: normal;">correction</i> akan
menangani masalah <i style="mso-bidi-font-style: normal;">monopoli</i> <i style="mso-bidi-font-style: normal;">eksternalitas</i> dan ketidakteraturan
pasar.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; mso-add-space: auto; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; text-indent: .5in;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: .25in; mso-add-space: auto; text-align: justify;">
<br /></div>
<b style="mso-bidi-font-weight: normal;"><span lang="IN" style="color: black; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-themecolor: text1;"><br clear="all" style="mso-special-character: line-break; page-break-before: always;" />
</span></b>

<div class="MsoFootnoteText" style="text-align: justify; text-indent: .5in;">
<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftnref1" name="_ftn1" style="mso-footnote-id: ftn1;" title=""><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif";"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">[1]</span></span></span></span></span></a><span lang="IN" style="font-family: "Times New Roman","serif";"> Prathama Rahardja dan
Mandala Manurung, <i>Teori Ekonomi Makro: Suatu Pengantar</i>, (Jakarta: Lembaga
Penerbit FEUI, 2004), hal. 245-257.</span></div>
</div>
<div id="ftn2" style="mso-element: footnote;">

<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; text-indent: .5in;">
<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftnref3" name="_ftn3" style="mso-footnote-id: ftn3;" title=""><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt;"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">[3]</span></span></span></span></span></a><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt;"> </span><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman";">Muhammad, <i style="mso-bidi-font-style: normal;">Kebijakan Fiskal dan Moneter Dalam Ekonomi Islam</i>, (Jakarta: Salemba
Empat, 2002), hal. 172.</span></div>
</div>
<div id="ftn4" style="mso-element: footnote;">

<div class="MsoFootnoteText" style="text-align: justify; text-indent: .5in;">
<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftnref6" name="_ftn6" style="mso-footnote-id: ftn6;" title=""><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif";"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">[6]</span></span></span></span></span></a><span lang="IN" style="font-family: "Times New Roman","serif";"> Prathama Rahardja dan
Mandala Manurung,<i style="mso-bidi-font-style: normal;"> Op Cit, </i>hal. 270.</span></div>
</div>
<div id="ftn7" style="mso-element: footnote;">

<div class="MsoFootnoteText" style="text-align: justify; text-indent: .5in;">
<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftnref7" name="_ftn7" style="mso-footnote-id: ftn7;" title=""><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif";"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">[7]</span></span></span></span></span></a><span lang="IN" style="font-family: "Times New Roman","serif";"> Prathama Rahardja dan
Mandala Manurung, <i style="mso-bidi-font-style: normal;">Op Cit, </i>hal. 271.</span></div>
</div>
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<div class="MsoFootnoteText" style="text-align: justify; text-indent: .5in;">
<a href="https://www.blogger.com/blogger.g?blogID=3762076589651408403#_ftnref8" name="_ftn8" style="mso-footnote-id: ftn8;" title=""><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif";"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="IN" style="font-family: "Times New Roman","serif"; font-size: 10.0pt; line-height: 115%; mso-ansi-language: IN; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">[8]</span></span></span></span></span></a><span lang="IN" style="font-family: "Times New Roman","serif";"> Abdul Mannan, <i>Teori
dan Praktek Ekonomi Islam, </i><span style="mso-bidi-font-style: italic;">(Yogyakarta:
</span>Dana Bhakti Prima Yasa, 1997), hal. 230.</span></div>
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BAB I STRUKTUR DAN KEBIJAKAN MONETER DALAM ISLAM

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