YOGYAKARTA - The Aceh government has special rules regarding bank operational permits in its area. Since 5 years ago the Aceh government has issued a regulation prohibiting conventional banks. The regulation is contained in Qanun 11/2018 concerning Sharia Financial Institutions. However, there are still many who do not know Qanun Islamic financial institutions in Aceh.
In the Aceh government regulation, financial institutions in Aceh must adjust the applicable provisions no later than three years after the rules are enforced. So since January 2021, conventional banks have no longer operated in provinces that uphold these Islamic values. However, the policy invites pros and cons.
Since the Qanun LKS rules were enforced, there has been a decrease in savings or third party funds (DPK). The latest news states that the Aceh government will revise the Qanun LKS rules. So what are the Qanun rules of Islamic financial institutions like in Aceh?
The Qanun LKS rules were issued on December 31, 2018, as a form of breakthrough in building the Islamic economy in Aceh. Amrizal J Prang, Head of the Legal Bureau of the Aceh Regional Secretariat at that time, said there were three reasons for the formation of the Qanun LKS.
The determination of the Qanun LKS in Aceh is based on philosophy, sociology, and juridicalism. In terms of philosophy, qanun refers to the teachings of the Koran and hadith which have been a way of life for Acehnese people who are mostly Muslim.
Meanwhile, in terms of sociological terms, qanun was formed in order to realize the economy of the Acehnese people in a fair and prosperous manner based on Islamic law. Acehnese people are considered to need financial institutions with a sharia system.
Meanwhile, in a juridical manner, the formation of qanun is very possible to be implemented. This is because Aceh has the authority by government to develop and regulate the implementation of Islamic law in accordance with Law Number 11 of 2006 concerning the Government of Aceh.
The formation of the Qanun LKS did not just appear, but was carried out based on the screening of aspirations from the community. During the Qanun LKS discussion, the government involved various elements, including banking financial institutions. The qanun rules are not only set for banks, but also for non-formal financial institutions.
There are sanctions if financial institutions do not follow the Qanun LKS rules. The sanctions given are in the form of administrative penalties according to the level of violations. The penalties can be in the form of written warnings, fines, business freezes, and revocation of business licenses.
That's the review of knowing the qanun of Islamic financial institutions in Aceh. Currently, the Aceh government has agreed on a plan to revise the Qanun LKS.
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