197JURNAL EKONOMI ISLAM

Vol. III, No. 2, Desember 2009

Optimalisasi Peran Dual BankingSystem Melalui Fungsi Strategis JUBDalam Rangka Menjaga Stabilitas

Sistem Keuangan di IndonesiaOleh: Maulana Hamzah1

AbstractWe study ínancial system stability by concern on liquidity and eìectiveness

money multipler between dual banking system, both are; Shari’a Banking andConventional Banking. Research begun with historical-idealty approach and compareit to reality especially when system attacked by crisis. e Comparation Between dualbanking system, show that when crisis period Shari’a banking more Insusceptible thananother one that because money multipler in shari’a banking is more deducated to riilsector and also he have low integrity with global economic, however the integrity hasthe positif side for develop economic quantity. By Monetary policy, A central bank canshare this system stability adding quantity oì Shari’a ínancial instrumen and goldin foreign exchange policy to cover system sustebcibility. Looked into inìectiveneessbanking rekapitalitation, there is 2 option to protect conventional banking stability:oïce channeling or convertion to shari’a banking. And the segmentation liquidityin money market between bank can be decreas by clearing system based on shari’aprinciple.

Keyword: Monetary Policy, Dual Banking system, Money Multipliers, FinancialSystem Stability

I. Latar Belakang MasalahStabilitas keuangan adalah isu klasik yang mengiringi pertumbuhan

ekonomi suatu negara, karena ia diyakini mempunyai hubungan yang positifdengan tingkat pertumbuhan ekonomi. Namun dengan banyaknya variabelmakroekonomi yang mempengaruhinya ia memerlukan kebijakan monetersebagai pioneer yang berfungsi sebagai supervisor dan regulator yang mampumendukung dinamika pasar. Namun dengan semakin kuatnya integrasi ekonomi

1Alumni S1 Program Studi Ekonomi Islam Fakultas Ilmu Agama Islam UniversitasIslam Indonesia, Yogyakarta