PERBANKAN SYARIAH DI INDONESIA ANTARA IDEALITAS DAN REALITAS: ANALISIS KESENJANGAN TEORI, REGULASI, DAN PRAKTIK BERBASIS MAQĀṢID AL-SHARĪ‘AH

Abstract

Islamic banking in Indonesia has developed within an increasingly comprehensive regulatory framework, particularly through Law Number 21 of 2008 on Islamic Banking, Law Number 4 of 2023 on Financial Sector Development and Strengthening, Financial Services Authority Regulation Number 2 of 2024 on Sharia Governance for Islamic Commercial Banks and Sharia Business Units, and the Roadmap for the Development and Strengthening of Indonesian Islamic Banking 2023–2027. Nevertheless, stronger legal and institutional frameworks do not necessarily indicate that the substantive objectives of Islamic law have been fully achieved in banking practices. This article examines the gap between the normative ideal of Islamic banking, regulatory construction, and actual practices through the framework of maqāṣid al-sharī‘ah. The study employs a normative-juridical method using conceptual, statutory, and policy approaches, supported by an extensive literature review. The findings indicate that Indonesia has made substantial progress in strengthening sharia governance and regulatory compliance. However, significant gaps remain between formal compliance and substantive realization of justice, public welfare, wealth protection, economic inclusion, and equitable distribution. These gaps are reflected in financing orientation, the dominance of debt-like financing instruments, information asymmetry, limited social-impact measurement, and the insufficient integration of maqāṣid into bank performance indicators. This article therefore proposes a conceptual reconstruction from sharia compliance toward maqāṣid compliance, in which Islamic banking performance is assessed not only by the legality of contracts and procedures but also by the extent to which banking activities generate measurable welfare for customers, society, and the national economy.