FISCAL POLICY ANALYSIS IN INDONESIA AND MALAYSIA, : REVIEW OF THE MAQASID SHARIA PERSPECTIVE
Muhamad Rifki Botutihe (a*), Sri Herianingrum (b), Aldiwanto Landali (c)

a) Faculty of Economic and Business, Airlangga University, Jl. Airlangga No.4 Surbaya, Indonesia
mrbotutihe30[at]gmail.com
b) Faculty of Economic and Business, Airlangga University, Jl. Airlangga No.4 Surbaya, Indonesia
sri.herianingrum[at]feb.unair.ac.id
c) Madrasah Aliyah Negeri 1 Pohuwato, Soginti Village, Paguat District, Pohuwato Regency, Gorontalo
aldiwantolandali120298[at]gmail.com

Abstract

The purpose of this paper is to analyze fiscal policy in Indonesia and Malaysia using the Maqasid Syariah perspective which consists of Hifzu-Din (Safeguarding Religion) Hifzun-Nafs (Safeguarding the Soul) Hifzun-Aql (Guarding the Intellect) Hifzun-Nasl (Safeguarding Offspring) Hifzul -Mal (Guarding the Treasure). The method used is qualitative with a literature study approach and secondary data from related governments. The results show that Indonesia and Malaysia have implemented Maqasid Syariah values in their fiscal policies. Most of Indonesia^s state spending is allocated to Hifzul-Mal (economy). Meanwhile, Malaysia is more allocated to Hifzul-Nafs (guarding souls). The fiscal policies carried out by the governments of Indonesia and Malaysia are in accordance with the values of maqasid sharia, which means that the governments of Indonesia and Malaysia are very concerned about aspects of maqasid sharia in their fiscal policies.

Keywords: Policy Fiscal- Maqasid Sharia- Islamic Economics

Topic: Development economics