THE EFFECTIVITY OF LEGAL SYSTEM ON SYARIA BANKING LAWS IN UU No. 21 TAHUN 2008 AND IT'S IMPACT ON ECONOMIC DEVELOPMENT
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Date
2009-06
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Journal ISSN
Volume Title
Publisher
IQTISAD (International Journal of Islamic Economics)
Abstract
Economic development cannot be separatedj-om the legal development as the efforts to
manifest national develoment. W N o . 21 Tahun 2008 as an adequate law can provide better
protection for inverstors. In Bagir Manan 's views, adequate laws contain three important
elements existing in Acts (UU). The three elements are juridical, sociological, andphilosophical
aspects. From thej uridical aspect, the regulating syaria banking enenstinign UU
No.21 Tahun 2008 is bound in nature. Sociological aspect is accomodated in offeredproducts
and services covering universal banking. Philosophical aspect is the improvement in
justice based on syaria prnciples.The constraints of UU No. 21 Tahw 2008 are that this
Act has not been comprehensive on regulating the implementation of banking activities
orproducts by means of electronic facilities as the impacts of global economy bringing
to national economic development. The aforementioned legal problems require specific
rules such as separately regulating.
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Keywords
Legal System., Syariah Banking,, UU NO. 21 Tahun 2008,, Economic Development