Review Qanun LKS (Menelusuri Konsistensi dan Efektifitas Operasional Lembaga Keuangan Syariah di Aceh)

Abstract

The Aceh government, through the Islamic financial institution qanun, has emphasized that banking practices in Aceh must adhere to sharia principles. Specifically, this regulation mandates that banks may only use sharia-compliant contracts in all financial transactions. The LKS Qanun has been in effect in Aceh Province since its enactment in 2018. It has now been seven years since. However, the implementation of the LKS Qanun by financial institutions in Aceh Province is questionable, both in terms of effectiveness and consistency of LKS towards the contracts contained in the LKS Qanun. This study aims to review the consistency and effectiveness of financial institutions in implementing the LKS Qanun. This study uses a normative empirical legal research method with a descriptive qualitative approach. The data sources used are secondary data sourced from journals, articles, online media, official websites, and other secondary data relevant to this study. The research results indicate that the Qanun LKS in Aceh Province has been operating as expected, both in terms of effectiveness and consistency, since 2018, or over its seven-year lifespan.