Dampak Perkembangan Uang Elektronik Terhadap Efektivitas Kebijakan Moneter Dalam Perspektif Sistem Ekonomi Islam

Abstract

The role of electronic money in increasing the effectiveness of monetary policy in
Indonesia. In recent years, the use of electronic money in Indonesia has experienced significant
growth, driven by the increasing adoption of digital technology and people's preference for noncash transactions. Electronic money has a positive impact on monetary stability through
increasing transparency and accuracy of transaction data, which allows Bank Indonesia (BI) to
monitor and control inflation more effectively. In addition, the use of electronic money
strengthens monetary policy transmission, where changes in interest rates can directly influence
transaction costs and consumption and investment behavior of the public. On the other hand,
electronic money also contributes to the stability of the financial system by reducing the risk of
fraud and increasing financial inclusion, providing access to financial services to previously
unreachable populations. Technological innovations in digital payments, such as QRIS, expand
the digital financial ecosystem and support transaction efficiency and security. This research
also highlights the relevance of electronic money in the context of sharia economics, where the
principles of transparency, accountability and social justice prioritized in sharia can be fulfilled
through the use of electronic money. Thus, electronic money not only strengthens the
effectiveness of monetary policy but also supports financial system stability and financial
inclusion in Indonesia, while also complying with sharia principles.
Keywords: Electronic Money, Monetary Policy, Effectiveness