Umer Chapra Research Articles

Prinsip Keadilan dan Kebebasan dalam Pemikiran Ekonomi M. Umer Chapra

This research was motivated by researchers' interest in the figure of Umer Chapra as one of the leading figures in Islamic economics and finance. One of Chapra's deep and critical ideas is about usury or bank interest which he put into a small book entitled "Prohibition of Interest: Does it make sense?". This work was quite "impressive" for Chapra because it was written at the request of many people who wanted to see Chapra's critical review regarding bank interest. This research aims to examine various main ideas that dominantly exist in Chapra's economic thinking in the book "The Prohibition of Interest". This research is a study with a qualitative paradigm and is also included in library research. The primary source for this research was obtained from Chapra's original work, while the secondary source came from the works of other people who studied Chapra's thinking, both from research, book reviews and other articles. There are various interesting views discussed by Chapra on economic problems. However, overall, it is revealed that Chapra's thinking in an economic context basically carries the principles of justice and freedom, as part of the principles of Islamic economics.

Implementasi Kebijakan Moneter Ekonomi Indonesia Periode 2003-2009: Study Pemikiran M. Umerchapra

This study aims to determine the Implementation of Indonesian Economic Monetary Policy for the 2003-2009 period, a study of M. Umerchapra's thoughts. The method used is a qualitative method with the results presented in a descriptive form, namely by collecting actual data, this research uses a type of library research. The aim of this thesis research is to provide an overview of M. Umer Chapra's thoughts on monetary policy instruments and opportunities for their implementation in Indonesia. The results of the research show that M. Umer Chapra's thoughts are about monetary policy instruments. In the economy it can become an important discourse to be considered and studied and even further implemented in Indonesia. It is not impossible to apply M. Umer Chapra's thoughts in Indonesia. Growth in terms of assets has also proven that Islamic Banks are an ideal bank model to encourage the progress of the country's economy. However, in terms of service quality, Islamic Banks must catch up with Conventional Banks which have been established earlier

Modeling Poverty Alleviation in Indonesia according to Ibnu Khaldun Philosophy (an approach to morality in the Qur’an)

The poverty problem is a multidimensional discourse. The debate about poverty and how to exterminate it has been carried out for many years. This is important because the problem of poverty can have implications for social, economic, and political problems in society. In fact, in the hadith the Prophet Muhammad SAW stated that "Poverty (Poverty) is close to kufr". In Islamic history, one scholar who discussed poverty was Ibn Khaldun. Referring to the socio-economic dynamics theory compiled by Umer Chapra based on Ibn Khaldun's thoughts in his "eight wise principles" or Hikammiyah sentences, Ibn Khaldun views poverty as not only caused by economic factors but also influenced by multidimensional non-economic aspects (morality). This study aims to observe the influence of Ibnu Khaldun's social-economic dynamics, such as government spending in the social sector, corruption, human development index (HDI), Gross Regional Domestic Product (GRDP), Foreign Direct investment (FDI), and Gini ratio over poverty rates in Indonesia. This study used modeling using the static panel data regression method with the Generalized Method of Moments (GMM) approach. Based on panel data analysis which includes data from 34 provinces in Indonesia for the 2018-2022 period, it was found that the variables of government spending in the social sector, corruption and Gross Regional Domestic Product (GRDP), significantly affect the poverty rate in Indonesia. Meanwhile, the variables Human Development Index (HDI), Foreign Direct investment (FDI), and Gini ratio have no effect.

Comparative Analysis of Muhammad Umer Chapra and John Maynard Keynes' Perspectives on Fiscal Stimulus in Addressing Economic Crises

This article presents a comprehensive comparative analysis of the economic perspectives of Muhammad Umer Chapra, an esteemed Islamic economist, and John Maynard Keynes, a renowned Western economist, concerning the concept of fiscal stimulus as an effective measure to address economic crises. By examining their viewpoints, the article explores the divergent approaches and underlying principles in implementing fiscal stimulus policies. Chapra's perspective highlights the importance of ethics, justice, and social welfare in economic decision-making, emphasizing the compatibility of fiscal stimulus with Islamic economic principles. In contrast, Keynesian economics, as advocated by Keynes, emphasizes the role of government intervention and the use of fiscal policies to stimulate aggregate demand and overcome economic downturns. The article critically analyzes the similarities, differences, and potential areas of convergence between these two prominent economists, shedding light on the implications and effectiveness of fiscal stimulus measures in various economic contexts. By understanding and comparing these perspectives, policymakers and economists can gain valuable insights into crafting comprehensive and context-specific approaches to address economic crises and promote sustainable economic growth.

Umer Chapra's Critique of The Western Concept of Welfare State

This study aims to dissect Chapra's critique of the Western concept of welfare state, and his thoughts on welfare state in Islam in order to solve the problem of impasse in the thinking of modern economists. This research provides enlightenment on how the concept of the welfare state is actually in Islam through the idea of Umer Chapra. The relevance of his thoughts is juxtaposed with the current state of the Indonesian state. This research is expected to be a strong reference for academics and practitioners in addressing the concept of the welfare state. The method in this study uses a qualitative approach with a library research model. Data is obtained from various sources, such as Umer Chapra's master book in the discussion of welfare states, journals, or news info from newspapers. The results of the study show that Umer Chapra's criticism is very comprehensive. Chapra focused in his mind on the Islamic worldview, economic strategy, and welfare state goals. Islamic values are instilled in the strategy of regulating the country's economy. As for its relevance to the state of Indonesia, the results of the analysis show that Chapra's criticism of the welfare state and his thoughts are still relevant to the current state of Indonesia.

Analysis Of Umer Chapra Thought on Islamic Monetary Instruments in Indonesia: A Vector Autoregressive (VAR) And Vector Error Correction Model (VECM) Approach

Economic growth and exchange rate stability are each state's goals in the Islamic monetary system. Therefore, there is a need to develop effective instruments to support the achievement of the monetary objectives. This study aimed to determine the effect of Islamic monetary instruments variables proposed by Umer Chapra on economic growth and exchange rate stability in Indonesia, the amount of influence of each variable, and how significant the influence exerted by each variable. M. Umer Chapra is a Modern Muslim economist trying to popularise the Islamic economic system, including the Islamic monetary policy. The originality of the paper lies in its combination of various statistical tests and analyses to examine the relationships among the variables studied. Through utilising VAR/VECM approach, the results showed that deposit money has a negative impact on economic growth while M0 and SRR provide a positive impact. However, for the stability of the exchange rate, all variables (LNM0, LNDM and SRR) shows a negative trend towards exchange rate stability.

Development Strategy for Child-Friendly Cities In Ponorogo Regency the Perspective of Muhammad Umer Chapra

Introduction/main objective: study this review existing strategies applied in the development of Child-Friendly Cities or Kota Layak Anak (KLA) in the Regency Ponorogo with Muhammad Umer's approach Chapra. Background Problems:Construction of KLA in Ponorogo Regency still has not yet can be embodied because six KLA stages have yet to be implemented in a manner whole a manner maximum. Realization of KLA in the District Ponorogo Becomes interesting research with M. Umer's perspective Chapra because as a figure economist Muslim he has to criticize theory economy conventional (which is also implemented in Ponorogo ), but he is not anti-starch with the theory. Novelty: with the study implementation of KLA in the District Ponorogo through M. Umer's perspective Chapra expected there is a new strategic solution that combines existing development _ conducted with applying the 5 principles of development and 3 principles of the life of M. Umer Chapra. Research Methods: Types study this is a study field with a qualitative approach, while Engineering data collection includes an interview, observation, and documentation. Finding/Results: Based on the results of research already _ carried out, the application of KLA in the District Ponorogo is not yet can be held in a manner maximum because exists various constraints. Conclusion: strategy of the government in realizing the development of KLA uses two approaches, namely top-down and bottom-up. The cause of the KLA not being able to materialize is due to the heavy tractability of the problems, the ability of statute to structure implementation, and variables nonstatutory variables affecting implementation beneficiaries of this program do not yet have a big commitment in realizing this program. Those problems no will appear if in implementation government added five principles of development such as providing benefits to the community, reducing the concentration of wealth, realigning the economic/financial sector, making strategic program plans, as well as apply principles tauhid, khilafah, dan ’adalah.

BANK INTEREST HALAL: DISTINCTION INTERPRETATION OF CONTEMPORARY ULAMA THOUGHT UMER CAPHRA AND MUHAMMAD SAYYID THANTHAWI

Life is controlled by two great forces, namely economy, and religion. All things based on Sharia law are clearly about halal and haram. Bank interest is something that is no longer common among the public, with the law and practice still being debated by some scholars. Therefore, this study aims to answer public confusion about the law of halal interest according to Umer Caphra and Muhammad Sayyid Thanthawi and the reasons for making legal decisions regarding bank interest. The research is in the form of a qualitative method with a literature study using several references from books and journals in concluding the views of the two figures. The primary data used is from the book Prohibition of Interest: Does it make sense? The work of Umer Chapra. While secondary data comes from various books and journals related to bank interest. The results of this study indicate that the two scholars have different opinions regarding bank interest. Umer Chapra argues that the practice of bank interest is prohibited in Islam because usury interest can harm the poor. Meanwhile, Muhammad Sayyid Thanthawi argues that bank interest is not part of usury because bank interest is not part of faith and worship.

Maqashid Al Shariah in Economic Development: Theoretical Review of Muhammad Umer Chapra's Thoughts

Muhammad Umer Chapra is among leading experts in Islamic economics. He published many well-known books, such as The Future of Economics: An Islamic Perspective, which reconstructed Ibn Khaldun's classical thinking and aimed to direct how the economic development of a country should be carried out. He also published a research paper entitled “The Islamic Vision of Development in the Light of Maqāṣid Al-Sharīảh” as formulation on how to implement goals of shariah in economic development or maqashid al shariah. Muamalah activities, such as economic development, cannot be separated from the context of maqashid al shariah. This study aims to analyze whether the theory constructed by Chapra follows the principles of maqashid al shariah as proposed by other Muslim scholars: Al-Shatibi and Jasser Auda. Furthermore, it also analyzes Chapra’s thoughts with correspondence to five fiqh legal maxims or qawaidh fiqhiyah. This study applied traditional or narrative review as a method of analysis. The results show that Chapra’s thoughts aligned with maqashid al shariah as proposed by Al-Shatibi and Jasser Auda and with the five fiqh legal maxims.

Eksplorasi Konsep Falah Perspektif Umer Chapra

The main focus of this research is to discuss the concept of M. Umer Chapra's thought in the world of economics. This study uses a qualitative-descriptive approach with library research techniques (Library Research). The results of the study show that M. Umer Chapra's thoughts in the field of economics have formulated many religious, traditional to modern sciences. Among the many concepts of thought, the concepts of falah, hayyah thayyibah, and economic obstacles for Muslims are still interesting discussions to be studied. From his theory of economic thought, Umer Chapra puts forward moral intensity as the most important thing to be taken into account. Because morality is the key to the life goals of falah and hayyah thayyibah. As well as being able to deliver a fair Islamic economy in the socio-economic field, so that it becomes a means of solving the failure of the Socialist and Capitalist economies.

EKONOMI ISLAM DALAM PEMIKIRAN M. UMER CHAPRA DAN M. NEJATULLAH SIDDIQI

Islamic economics is the basis of Muslims in knowing the principles of sharia economic teachings based on the Qur'an and Hadith in the economic thought of M Nejatullah S and M Umer Chapra. The purpose of this study is to explain the economic thinking of M Nejatullah S and M Umer Chapra and their contribution to the country's economic system. This research is a type of historical research with library data sources. The results of this study indicate that the economic thinking of M Nejatullah Siddiqi related to sharia insurance or commonly called takaful is a new product that was born as a result of the rejection of conventional insurance which in its operations practices usury, maysir, and gharar. While Chapra's economic thinking is based on the concept of monotheism, caliphate, and justice, in its operations, Chapra divides this concept of caliphate into four main points, namely: universal brotherhood, resources as a mandate (resources are trusted), a simple lifestyle ( humble lifestyle), and human freedom.

Inflasi Berdasarkan Pandangan M. Umer Chapra

According to Islamic economists, inflation has very bad effect on the economy because it disruptions of money function, weakens of saving’s spirit, decreases the production of goods, and weakens of purchasing power. Inflation also attracted the attention of M. Umer Chapra as a Muslim economist. This study to analyze M. Umer Chapra's opinion on inflation. This research with qualitative approach of historical research, which examines history of the character which includes ideas, thoughts, and things that influence the formation of his thoughts. Data collection methods is using library research with the object about Chapra’s thoughts relating to inflation, traced through his works. Chapra thought is a blend of traditional science, religion and modern economics. The results concluded that his thinking was dominated by macroeconomics because he was involved in the world economy, monetary policy, Islamic financial institutions which were more emphasized by the central bank, policies and inflation problems. Chapra's view of efforts to suppress inflation is the need for price stability and strategy. The disadvantage is that in a tolerant attitude towards western financial instruments, it must emphasize moral improvement for the course of fair economy as the solution to the failure of the capitalist and socialist economic systems.

Relevansi Konsep Moneter Islam M Umar Chapra dengan Kebikakan Moneter di Indonesia

In principle, the implementation of Islamic monetary policy according to M. Umer Chapra differs from conventional monetary policy, especially in the selection of targets and instruments. This study aims to determine the concept of the Islamic monetary system thought by M. Umer Chapra and its relevance to the Indonesian monetary system. The research methodology used in this research is library research. The data analysis technique used in this research is content analysis method.
 The Indonesian monetary system adheres to the ITF (Inflation Targeting Framework) framework, by setting inflation as the main target of monetary policy, and using the BI7DRR interest rate as a policy to control inflation in accordance with the target. The instruments used by Bank Indonesia to carry out its duties are Open Market Operations, Discount Facilities, Statutory Reserves, and Moral Appeals.

COMPARATIVE ANALYSIS OF THE THOUGHTS OF M. UMER CHAPRA AND M. ABDUL MANNAN ABOUT THE CONCEPT OF RIBA AND BANKING

The existence of Islamic economics as an economic concept that continues to grow and develop, especially in the contemporary era, needs to be addressed with a wise attitude, one of which is by examining various perspectives, including the thought of leaders about the concept of riba and banking, so various parties must own that knowledge about the concept of riba and banking. This study uses qualitative methods with the type of library research with a comparative approach. This literature research explains and compares the thoughts of two contemporary Islamic economic figures, namely M. Umer Chapra and M. Abdul Mannan. The data analysis technique used is a content analysis and comparative. The data is obtained by reviewing books, scientific works in printed or electronic form, and all other written material. The author attempts to describe the two objects of research, analyze them, and then compare the two objects' results by combining several content dimensions from these two objects. The author uses the intersection union tool to compare several dimensions from the two figures' thoughts regarding the concept of riba and banking. The study results show that M. Umer Chapra and M. Abdul Mannan's thoughts on the concept of riba and banking are classified into the same or similar dimension. The second thought of Islamic economic figures is related to one another. Both figures agreed to integrate Islamic values derived from the Qur'an and Hadits into every economic activity.

Construction of M. Umer Chapra's Economic Thoughts in Realizing Efficiency and Justice

A study of thought in the economic setting of Muslims. This study aims to find out the concept of thinking of a Muslim economist, M. Umer Chapra examines the existence of universal economic problems faced by the nations of the world, namely the lack of human well-being due to lack of efficiency and justice in the allocation of God-given resources, which cannot be solved by the conventional system. As an alternative to achieving efficiency and justice, Chapra proposes an Islamic economic system that has a worldview and strategy in line with the Islamic sharia that enables it to print a fair and viable solution in Muslim countries. For Chapra, the main purpose of the management of allocation and distribution should not deviate from the maqashid al-sharia (sharia goal) which is the well-being of the people. Method of this study using literacy, data collection and collection of objects, In this study it is found that the world view of Islamic economy according to Chapra is based on three basic principles: monotheism, caliphate and 'is. Harmony between the al-sharia and the worldview is not enough to bring efficiency and justice to the well-being of the people, according to Chapra needed a strategy for organizing the economic system with four necessary and mutually supportive elements: filter mechanism, correct motivation, socio-economic and financial restructuring, and the role of the nation.

IMPLEMENTASI KEBIJAKAN MONETER EKONOMI INDONESIA PERIODE 2003-2009

ABSTRACT
 The method used by the authors in this study is a qualitative method with the results of the presentation in a descriptive form, namely by collecting actual data by carrying out a literature study of some written literature. This research uses the type of library research (library research). Literature research is research that uses written data such as books, books, magazines, journals and others.
 
 To get the best data, certain techniques are taken, including the most important one is research, which is collecting material by reading books, journals and other forms of material or commonly referred to as library research. one type of research through libraries. The results of the research show that M. Umer Chapra's thoughts about monetary policy instruments. In the economy can be an important discourse to be considered and studied even further implemented in Indonesia. It is not impossible to apply M. Umer Chapra's thinking in Indonesia. Growth in terms of assets has also proven that Islamic banks are a bank model that is ideal for driving the progress of the country's economy. But in terms of service quality, Islamic banks must catch up with conventional banks that have already been established.
 
 Keyword: Monetary Policy, Implementation, M. Umer Chapra's

Implementasi Kebijakan Moneter Ekonomi Indonesia Periode 2003-2009:

The method used by the authors in this study is a qualitative method with the results of the presentation in a descriptive form, namely by collecting actual data by carrying out a literature study of some written literature. This research uses the type of library research (library research). Literature research is research that uses written data such as books, books, magazines, journals and others. To get the best data, certain techniques are taken, including the most important one is research, which is collecting material by reading books, journals and other forms of material or commonly referred to as library research. one type of research through libraries. The results of the research show that M. Umer Chapra's thoughts about monetary policy instruments. In the economy can be an important discourse to be considered and studied even further implemented in Indonesia. It is not impossible to apply M. Umer Chapra's thinking in Indonesia. Growth in terms of assets has also proven that Islamic banks are a bank model that is ideal for driving the progress of the country's economy. But in terms of service quality, Islamic banks must catch up with conventional banks that have already been established.

Konsep Empowerment Sebagai Instrumen Pembangunan Ekonomi Islam (Telaah Kritis Pemikiran Ibnu Khaldun dan Umer Chapra)

The main problem of economic development such as poverty, unemployment, asymmetry of economic among individuals could not be removed succecfully in Indonesia. One of the reasons is caused with unreadable other variables such as social law, politics, culture and so on. The size of the success Islamic economic growth is not measured only from the material achievement perspective or the results of quantity, but also from the improving religious perspective, social and society life. The motodology of this research is library research. To get more information, the reference is taken from some book that have relation with the topic. The result is that Ibn Khaldun’s thought is referring to the term "umran al-alam" or prospering the world. It is formed from three components, namely; history (tarikh), cooperation among society (al-ijtima 'al-insani) and the universe (al-kawn). Ibnu Khaldun offered the concept of Islamic economic development: First, the contribution of humans (ar-Rijal). Second, the contribution of development (al-Imarah), Third, the contribution of institutions and government. Fourth, the contribution of wealth (al-mal). Umer Chapra believed that the means of quittable development requires "efficiency" and "equalization" of the use of all resources, both "efficiency" and "justice" cannot be applied or actualized without the supporting with moral dimensions in economic activities. Umer Chapra's thoughts are following: First, Efficiency, justice and morality. Second, the contributions of the state. Two thoughts on Islamic economic development below are known that the concept of Islamic economic development does not only measure the level of welfare in the world, but also the more important is how to prosper in the hereafter. The built concept of the two thinkers is directed more to the concept of empowerment or empowering natural resources efficiently and equitably by the role upholding ethical values and social justice.

Pembangunan Ekonomi Islami Menurut Fahim Khan Dan Umer Chapra: Sebuah Kajian Komparatif

Every economic system in the world is the ultimate goal of creating a prosperous, just and equitable life. The effort to achieve this goal is economic development. The highest achievement in the Islamic economic system is the fulfillment of fala>h}, while fala>h} can be achieved by fulfilling the concept of maqa>s}id shari>ah, meaning say, preservation of beliefs, soul, spirit, heredity and property. Some theories about economic development strategies are often formulated by conventional economists framed by the ideology of capitalism and socialism. But the idea can not be separated from the critical projector. In the ranks of contemporary Islamic economic thinkers, criticism of Western development strategies is accompanied by an alternative offer. The object of this research is the reflection of Fahim Khan and Umer Chapra on economic development. This research uses qualitative method, with comparative descriptive analysis technique. From the existing data, the author tries to describe the two objects of research and analyze it, then compare the results of two research objects. After knowing the location of equations and differences, the authors analyze the factors that underlie it. The results show that there are similarities with the problems faced by developing countries. This is the high rate of unemployment or overwork. Fahim Khan also proposes economic development strategies for surplus countries by opening up and animating entrepreneurship as well as institutional support based on a partnership with the system (profit and loss sharing). If the theory of Chapra has nothing to do with the strategy it proposes, it is only the result of the criticism of capitalist and socialist existence that has failed to overcome the problems facing the developing countries. Its strategy focuses on four important elements: moral filters, correct motivation, socio-economic restructuring and the role of the state. There are 5 characteristics that influence the factors that cause the differences and similarities between Fahim Khan's and Umer Chapra's theories on economic development: action, context, history, power, and ideology. Keywords: Fahim Khan's Theory, Umer Chapra's Thoughts, Islamic Economic Development

Inflasi Berdasarkan Pandangan M. Umer Chapra

According to Islamic economists, inflation has very bad effect on the economy because it disruptions of money function, weakens of saving’s spirit, decreases the production of goods, and weakens of purchasing power. Inflation also attracted the attention of M. Umer Chapra as a Muslim economist. This study to analyze M. Umer Chapra's opinion on inflation. This research with qualitative approach of historical research, which examines history of the character which includes ideas, thoughts, and things that influence the formation of his thoughts. Data collection methods is using library research with the object about Chapra’s thoughts relating to inflation, traced through his works. Chapra thought is a blend of traditional science, religion and modern economics. The results concluded that his thinking was dominated by macroeconomics because he was involved in the world economy, monetary policy, Islamic financial institutions which were more emphasized by the central bank, policies and inflation problems. Chapra's view of efforts to suppress inflation is the need for price stability and strategy. The disadvantage is that in a tolerant attitude towards western financial instruments, it must emphasize moral improvement for the course of fair economy as the solution to the failure of the capitalist and socialist economic systems.