RECONSTRUCTION OF THE SHARIA BANKING PARADIGM: BRIDGING THE GLOBAL MATTER OF SHARIA AND MAQASHID PRACTICES IN INDONESIA
DOI:
https://doi.org/10.54783/62v4fc14Keywords:
Maqashid Syariah; Islamic finance; paradigm reconstruction; ethical governance; Indonesia banking.Abstract
This study critically investigates the divergence between the normative ideals of Maqashid Syariah and the operational practices of Islamic banking in Indonesia. Despite Islamic banks' legal compliance with shariah contracts, their operational models often replicate conventional banking behaviors, emphasizing profitability over justice and spiritual integrity. Employing a philosophical-hermeneutic method, the research explores ontological, epistemological, and axiological misalignments and proposes a reconstructed paradigm rooted in ethical governance, stakeholder theory, and metaphysical intentionality. The analysis reveals that epistemological rigidity, institutional mimicry, and ethical formalism hinder the realization of maqashid-based outcomes. A paradigm realignment is proposed that prioritizes spiritual intentionality, community welfare, and holistic performance metrics over compliance formalism. This study contributes a conceptual framework that bridges theoretical foundations and practical imperatives, offering actionable pathways for banks, regulators, and shariah boards to embed the higher objectives of Islamic law into financial operations. The findings underscore the need for a spiritually grounded yet operationally viable Islamic banking model in Indonesia that aligns institutional behavior with divine purpose and human dignity.
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