AL-MAQRIZI INFLATION THEORY OF ISLAMIC MONETARY POLICY IMPLEMENTATION; A CASE STUDI IN INDONESIA

Abstract

During the time of Imam Al-Maqrizi (766-845 H) inflation had occurred in Egypt. Al-Maqrizi shows about the theory of inflation. In the economy become a discourse that is considered and studied and even implemented in the problem of inflation. Al-Maqrizi is an Islamic economic thought who did a special study of money and inflation. In the journal focused on the theory of Al-Maqrizi inflation caused by two factors, namely natural factors and human error factors. Both of these factors can be solved by applying Islamic monetary policy to the thought of Umar Chapra, namely a credit-oriented (financing) location as a solution of natural factor theory. In addition, moral suasion or moral appeals as a solution of the human factor inflation theory.