Ma'ruf Amin: Muamalah Market Damages The National Economic And Financial Ecosystem

JAKARTA - Vice President Ma'ruf Amin said that the practice of Muamalah Market damaged the national economic and financial ecosystem because each transaction did not follow the agreed regulations and laws to apply in Indonesia.

"The goal may be to enforce the Islamic market, but we have a mechanism in our state system. So, when then there is an (economic practice) outside of that, of course it will damage the ecosystem rather than our national economy and finance," said Ma'ruf. in his statement in Jakarta, reported by Antara, Thursday, February 4.

Economic practices in Muamalah Market cannot be called activities to develop Islamic economics and finance in Indonesia, said Ma'ruf. In Indonesia, Islamic economics and finance are implemented as part of efforts to strengthen the national economic system.

Indonesia has regulations and sharia-based financial institutions that accommodate economic activities in accordance with the national financial system. Thus, the Muamalah Market transactions using currencies other than rupiah are a form of deviation from the national financial system, said Ma'ruf.

"Islamic banking in Indonesia has rules, State Sharia Securities (SBSN) have rules and the laws have rules for its implementation, there is even a fatwa from the National Sharia Council of the Indonesian Ulema Council (DSN-MUI)," he explained.

Muamalah Market, which has been practicing on Jalan Tanah Baru, Depok, West Java since 2014, is a buying and selling activity that uses dirhams and dinars in every transaction. In addition, the rental fee for traders selling in the market also uses the Saudi Arabian currency.

Dozens of traders who are members of the Muamalah Market sell daily necessities, such as food, drinks and clothing using dirhams and dinars.

The police have named Muamalah Market founder Zaim Saidi as a suspect in Article 9 of Law No.1 of 1946 concerning Criminal Law and Article 33 of Law Number 7 of 2011 concerning Currency, with the threat of one year in prison and a fine of Rp200 million.

As a market manager, Zaim determines the purchase price of dinar and dirham coins according to the price prevailing at PT Aneka Tambang (Antam), with an added 2.5 percent as profit.

The dinars used in transactions on the market were gold coins weighing 4.25 grams and 22 carat gold; while the dirhams used were in the form of pure silver coins weighing 2.975 grams.