Assalamu'alaikum Wr. Wb. Hello, ladies and gentlemen. My name is primus sari j.c.

"Our motion is Sharia economic system can overcome economic crisis"

Today we will ensure you that sharia economic system can overcome economic crisis.
Ladies and gentlemen, covid-19 pandemic make so many people become unemployed or jobless
that forced them to make money out of anything they could therefore they starting small business
or in Indonesia we call it UMKM or (usaha makro, kecil dan menengah). To start a small
business, people need budget and they usually don’t have enough budget due to their
unemployment. The only way by a small business can do is to borrow money from an institution
such as online loan. Through out this pandemic online loan has increased to 120% quoted from
OJK (otoritas jasa keuangan) an institution that regulate money services in Sindonews. This
enormous amount of loan brings up economic crisis in Indonesia. That the economic crisis
quoted from market business news, occurs when a country’s economy deteriorates significantly
that can be caused by some reasons for example a huge amount of loan in a country. This is
exactly what happen today in Indonesia.
Online loan institution gives opportunity for people to borrow some money with certain
method including interest. Not only people have to turn back the money they borrow, but also the
interest or bunga that usually burden.

We can imagine that, if we had an online loan in conventional online loan institution that
has 2% interest per month for 10 million rupiah in 10 months, means in total we have 20%
interest from 10 million rupiah that we have to pay back, because there is interest means not only
10 million but plus 2 million rupiah have to be paid back to the institution.

Compared to sharia economic system that according to UU no. 3 tahun 2006 pasal 45 (i),
covering actions or activities that refer to the Qur'an and hadith, means Islamic values are
implemented in every, ins and outs sharia economic system, riba or interest is prohibited.
Moreover, people only need to pay the exact amount of money they borrowed and can use the
rest of their money to develop their business.

Therefore, we found that sharia economic system that prohibited riba can overcome economic
crisis.
Speaker 2 :
Assalamu'alaikum Wr. Wb. Hello, ladies and gentlemen. My name is Elma Nur Hafizah.
As the 2nd speaker I will give some arguments and establish the arguments from the previous
speaker
 According to an Indonesian economic observer, Agustianto “sharia economic system
that based on real sector will establishing national economy and can overcome the economic
crisis”. his statement is in line with our main idea as the 1 st speaker has said before that SES can
overcome the economic crisis because it’s goals and it’s principles are able to directly benefit
society.

If conventional economic system applied riba system, then SES are ban the riba sytem
because it harmfull for every stakeholder.
Under the Riba economic system, the gap in the economic growth occurs constantly,
so that the rich are getting richer and the poor are getting poorer. IMF data shows how the gap
has occurred from 1965 till this day.

The reason why SES that prohibited riba can overcome economic crisis is
- People who have to develop their business are usually afraid to take a risk if they could
take the loan with high interest, it causes they small business can’t develop well and exactly the
money circulation didn’t work well.

- Theory of economy also said that the interest (suku bunga) will influence to the
inflation in our economy progress. As one of the macroeconomic elements, inflation is actually
needed so that the economy in our country will stable, as long as that inflation still at a
reasonable level, which is between 2% to 3% per year. But in reality, inflation that caused by
interrest are more than that, no wonder if the value of money is dropped,
- For people who are invest their money to the bank or business developer are not getting
better profit because of that conventional system, so if SES would be applied they also possibly
getting better profit from what are they invest for.

- The Central Statistics Agency (BPS) reported that Indonesia's economic growth in the
second quarter of 2021 increase to 7.07 percent on an annual basis (year on year / yoy). but this
is still very worrying, because there are still many people who are worrying about their financial
condition after this pandemic situation. If sharia economic system would be applied in our
economic system, it will overcome the economic crisis that we has been worried about.

Then in SES there are mudharabah system that can save the risk of the high interrest of the loan,
it will be a good sollution for unemployment and small business who want to fund their company
without taking high risk of that loan.

- High interest from loan that has been taken by them in some cases will make them frustrated
and getting stress, no wonder if then some people committed suicide because they can’t pay the
bills.
All in all ladies and gentelmen, sharia economic system that prohibited riba, can overcome
economic crisis.

So, the important question is Does Indonesia’s sharia economy have enough potential
to grow sustainably and facing the economic crisis? The answer is The principles of
Islamic economics that are not owned by conventional economies and covers all existing
economic sectors, both financial and real sectors also provide benefits (maslahah) that is
 equitable and sustainable for each element in the economy are the key to success in
facing the economic crisis.

Mudharabah is a form of cooperation between two or more participants where the owner of the
fund/investor (mudharib) with a profit sharing agreement. This form emphasizes cooperation in a
combination of 100% cash capital contributions from the and expertise from mudharib.

Dalam penerapannya, depositor berperan sebagai shahibul mal/pemilik

modal. Dana tersebut digunakan bank untuk melakukan murabahah
atau proses ijarah. Hasil dari usaha akan dibagi hasilkan berdasarkan
profit sharing atau revenue sharing yang tidak membebankan peminjam