Abstract
The purpose of this study is to determine the solutions to financial crises based on the perspective of Islamic management. It also discusses the roles of faith and Islamic monotheism in managing the global financial crisis. The qualitative method was used to obtain data from books and articles related to Islamic management based on Qur’an and Hadith. These data were further analyzed and used as a solution to problems related to the global financial crisis by Islamic values. The result showed that the values of faith and monotheism following organizational policy and management tend to minimize financial speculative actions and greed. In addition, these values assist managers in planning, organizing, directing, and supervising their subordinates under Islamic rules and regulations. The application of this value is mainly reflected in the aspects of behavior, organizational aspects, and system aspects through the mechanism of placing the sharia supervisory board and profit-sharing in Islamic financial institutions, simplicity, and avoiding is in organizational management as well as the principle of prudence and avoiding speculative action. This research supports the role of the Islamic management system in winning finances and implementing organizational policies to overcome global financial problems.
 JELClassification Codes: G01, H12, D46.
Highlights
The global economy is currently experiencing signs of another financial crisis; adequate preparation is needed to avoid another economic turmoil
Shariah management focuses on managing human resource behavior related to the values of faith and monotheism by Islamic teachings to improve mental models that are damaged by sources of greed, arrogance, and ignorance (Willett, 2012)
The compilation of management with sharia is related to the values of faith and monotheism, where Islam requires managers to be honest and trustworthy to ensure their subordinates are happy (Falah), possess good life, with a strong emphasis on brotherhood, socio-economic justice, and fulfillment of the spiritual needs of humanity
Summary
The global economy is currently experiencing signs of another financial crisis; adequate preparation is needed to avoid another economic turmoil. The current financial crisis in various European countries has a gradual and indirect effect on developing and high-income countries, and this has decreased the flow of capital by half compared to last year (World Bank Group, 2019). The vulnerability of the core of the financial system is not ready to withstand significant shocks. According to Duffie (2019), undue dependence on market discipline has left large financial companies short of capital, and this is exacerbated by the failure of the Securities and Exchange Commission to prioritize financial stability. The world economy is not ready to withstand significant shocks due to financial crises
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