MODEL KESEIMBANGAN EKONOMI SYARIAH DI TENGAH TEKANAN INFLASI DAN KETIDAKPASTIAN GLOBAL

Abstract

This article develops a conceptual model called the Islamic Economic Equilibrium Circle (Lingkaran Keseimbangan Ekonomi Syariah) as an alternative response to current inflationary pressures and global uncertainty. Unlike conventional approaches that rely on interest rates, this model integrates four main pillars: a halal-based real sector, profit-loss sharing financing (mudharabah-musyarakah), interest-free Islamic monetary policy, and ZISWAF instruments (zakat, infaq, sadaqah, waqf) as automatic stabilizers. Through a holistic conceptual framework, this article demonstrates that the four pillars mutually reinforce each other in a positive feedback loop, enabling price stability to be achieved without sacrificing economic growth and social justice. The novelty of this research lies in the simultaneous integration of the four pillars which have previously been discussed separately in the literature. The theoretical contribution of this model is the provision of a comprehensive analytical tool for Islamic macroeconomics, while the practical implication calls for institutional coordination and a gradual transformation toward a riba-free economic system. This model offers a promising alternative for achieving stability without compromising justice and spiritual values amidst ongoing global economic turbulence