Indonesia's economic crisis is still ongoing and not yet showed signs of recovering soon.
           Our budget is still being drained in large numbers to pay debt interest expense both external debt and domestic debt interest in the form of interest on the bonds recap conventional banks. State funds should be used for hundreds of trillions of empowerment of the poor, but rather for the subsidy to the banks through interest recap ribawi BLBI and SBI.
 
This happens because the government has caught up to the system of usury that damage the nation's economy. Its rising fuel prices exacerbated the suffering of the people of Indonesia and increasingly swell the poverty rate. Inflation rose sharply.

All the great economists predict inflation in this country is only 8.7 percent, but in fact soared beyond expectations, more than 18 percent. The great economists predict a big mistake. Inflation rate of 18 percent, the highest in four years. As an important indicator for the country's economy, then inflation must be viewed critically. Therefore, inflation is soaring gong meaningful economic distress for the people.
At this time, if recorded since March 2005, the number of Indonesia's debt reached Rp1, 282 trillion. This figure, equivalent to 52 per cent of gross domestic product. The composition of the debt, 49 percent percent of foreign debt. While 51 percent of domestic debt.

In addition to Indonesia's debt problem is very large, the threat to fiscal sustainability and development financing is also a big problem. Similarly, poor infrastructure, low investment and economic growth, decline of the real sector, declining competitiveness, and will still rising unemployment due to fuel price rises last.
Our budget is still at a critical point, because external factors such as rising oil prices, could create a burden the state budget deficit to swell and enlarge. participate due to swelling of fuel subsidies (fuel) and related government spending abroad. Not to mention the threat of depreciation of the rupiah which is always shadowing.

Indoiensia economic downturn also marked by the real sector is still not excited due to paralysis of the conventional banking intermediation function. LDR conventional banks are still not even close to optimal, in numbers ranging from an 50-percent. Another NPL conventional two giant banks is increasing. Increase in NPL (non-performing loans) has been located at a dangerous point, which is 24 percent and 20 percent. This is the condition of usury banks, while the NPL high-low LDR. Reality is different from the Islamic banks, FDR's high, low NPF. Thus encouraging the growth of the real sector. While conventional banks opposite.
In conclusion, the Indonesian economy collapsed and completely under the worst economic system of capitalism. Indonesia just ahead of African countries such as Malawi, Uganda, Kenya, Zambia, Mozambique, Zimbabwe, Mali, Angola and Chad. Growth competitiveness ranking (growth competitiveness index) Indonesia, together with Ethiopia which almost never completely destroyed by war and famine.

Sharia as a Solution

           One solution is important to be aware of government in Indonesia to economic recovery is the application of Islamic economics. Islamic economics has a strong commitment to poverty alleviation, economic growth justice, the abolition of usury, and the prohibition of currency speculation, creating economic stability.

Islamic economics that emphasizes justice, teaching concepts that excel in the face of monetary shocks than conventional systems. This fact has been recognized by many experts the global economy, such as Rodney Shakespeare (United Kingdom), Volker Nienhaus (Germany), etc..

In the future, the government needs to give greater attention to the Islamic economic system which has proved successful and more resistant in times of crisis. Islamic economic system represented by Islamic banking institutions have shown the toughness to survive because it uses a system that does not experience the negative spread as conventional banks. Islamic banking is growing even in times of a very difficult time.
While the giant banks experiencing severe slump that ended in liquidation, most other conventional banks were forced to be recapitulated by the government large amounts of Rp 650 trillion. Every year, our budget is drained again by the need to pay the interest on the bonds recap. State funds should be prioritized for the alleviation of poverty of the people, but rather are used to assist conventional banks. This is a fact, if we still retain its capitalist economic system of usury.

During this time, the economic system and Islamic finance is less a place that enables it to develop. Islamic economics has not been a concern of government. This system has many advantages to be applied, the Islamic economic plants like trees and potentially good, but left alone, not fertilized and watered. As a result, slow growth, due to lack of full support from the government and the competent parties, such as Finance Minister, Minister of Trade and Industry, Bappenas, DPR and other relevant ministers.
 
The success of Malaysia to develop an Islamic economy significantly and be a role model internationally, due to Mahathir's policies that are serious about developing Islamic economics. They appear as a pioneer of Islamic economic revival, with policies that actually build the economic strength based on sharia principles. Indonesia had a much more independent and self-determination, is now lagging far from Malaysia.
Mahathir's policies and also Anwar Ibrahim when it's with the system of sharia, the Malaysian economy has been able to raise the equivalent of Singapore. Without their policy, certainly not the economic might of Islam uplifted as now, regardless of their policies may not change significantly the Islamic community's income. They not only managed to build up the banking, insurance, capital markets, savings keuagan hajj and other institutions in the system of sharia, but also been able to build the civilization of both micro and macro economics with the underlying principles of Islamic values.

The application of Islamic economics is not to the interests of Muslims only. Assessment of sectarianism for the application of Islamic economics as it is mistaken, because the economy is concentrated on enforcing Islamic principles of justice and bring mercy to all the people are not meant for Muslims only, and because it is inclusive of Islamic economics.

Cover

 Momentum Expo Indonesia Sharia should be jerked and opened the eyes of the government to look and apply Islamic financial services as a solution to Indonesia's economy. The government should look at Islamic economics in the context of national economic rescue.

Accordingly, the establishment of the National Economic Council (DEN) to return realized by incorporating sharia ekonomoi experts in it. Islamic Economics in Indonesia has shown toughness in times of crisis, and anyway, in the practice of economy in Indonesia so far, Indonesia has implemented a dual system, the conventional and Islamic economic system, especially relating to banking and financial institutions.

By          : Agustianto
Secretary General of Indonesian Association of Islamic Economics
Sources  : Padang Express