TANTANGAN EKONOMI SYARIAH ZAMAN MODERN

This study aims to institutionalize the implementation of the Islamic economy in Indonesia through bank and non-bank financial institutions. Banking financial institutions are applied through Islamic banking whose operational basis is accommodated through the legal umbrella of Law no. 21 of 2008 concerning Islamic banking which is the result of improvements from several changes to the previous law, namely Law no. 7 of 1992 as amended by Law no. 10 of 1998. The role of Islamic financial institutions in improving people's welfare can be seen from the total financing channeled for the benefit of the business world. In 2009, total financing for the MSME sector was recorded at Rp. 18.38 trillion (67.82%) of the total financing, while financing for the non-SME sector is Rp. 8.72 trillion (32.18%) of the total financing, this shows that the role of Islamic banking in empowering the economy of small and medium enterprises (MSMEs) is getting higher. In banking, the term is known, the higher the funds channeled for real financing and investment activities, the better the health level of the bank. The existence of the implementation of sharia economy in Indonesia can be seen from the rampant opening of sharia division banks, and even opening branches of Islamic banks that are separate from their parent companies, such as BRI sharia, Mandiri syariah, and BNI syariah. The rise of the opening of BPRS and BMT, as well as Islamic capital markets and Islamic mutual funds are competing with each othe