Since the Covid-19 pandemic arrived in early 2020, the month of Ramadan has felt different from previous years. Mosques that were previously busy became empty because they were temporarily closed. Breaking the fast together is almost non-existent.
Homecoming, which is usually marked by traffic jams, has also been reduced drastically. People are asked to pray more, go to school and work from home. Everything is done to maintain the health and safety of all.
Two years passed. Thank God, global and Indonesian conditions have improved a lot. In Indonesia, this improvement is marked by a downward trend in Covid-19 cases. At the same time, the government reported expanding vaccination rates in the country.
Nearly 200 million Indonesians have received the first dose of vaccine. Not only that, there are various signals of easing travel restrictions, including for homecoming and the Umrah pilgrimage. However, there are also several conditions that need to be watched out for.
Domestically, prices of goods have also increased. Not only are the prices of imported goods affected by the Russian-Ukrainian conflict but also basic necessities such as cooking oil, eggs and gas.
At the global level, the Russian-Ukrainian war occurred which caused global economic and political instability. Prices of goods, especially commodities such as wheat and oil, continue to experience an upward trend.
Since the beginning of 2022, the monthly inflation figure has been above two percent. This figure could be higher if the government does not make various efforts to control the rate of inflation.
In the midst of these various conditions, Ramadan this year is the right time to reflect and reorganize our economic patterns and activities.
Is it in accordance with the teachings and principles of Islamic economics which emphasize justice, balance, brotherhood, trust, and cooperation for good? Is it in accordance with the goals of Islam, namely realizing maqasid al sharia and benefits?
In Islamic economics, the value of justice is reflected, among other things, in the prohibition on carrying out economic transactions that contain elements of ribawi, gharar (speculation) and maysir (gambling) which are detrimental to society.
Meanwhile, the value of balance is reflected, among other things, in the balance between material and spiritual aspects, the real and financial sectors, risks and profits, as well as profit and social motives such as preserving nature and having an impact on society.
It is not surprising that Chapra (2000), one of the pioneers of contemporary Islamic economics, defines Islamic economics as an economic system that prioritizes social and economic justice, as well as a balance of material and spiritual needs.
Islamic economics also encourages transactions with the principles of brotherhood and cooperation for goodness. This is reflected in economic transactions and production activities that prioritize cooperation and provide maximum benefits for society.
Also in the form of financial transactions based on syirkah (cooperation) agreements such as mudharabah and murabahah which have been widely practiced by Islamic financial institutions. And everything, of course, must be done trustfully and professionally.
In the month of Ramadan, the teachings and principles of Islamic economics can be encouraged and strengthened by practicing a more halal and tayib lifestyle.
Not only so that this year's Ramadan can be more optimal than before, but also so that economic activity can be better, in accordance with sharia, encouraging national economic recovery and improving our collective welfare.
A halal lifestyle based on Islamic economic principles can be reflected in several behavioral patterns. First, moderation or not excessive consumption is important to maintain economic balance, which is mainly characterized by stable prices of goods.
If you look at the inflation pattern in Indonesia, inflation almost always occurs in the month of Ramadan due to increased public consumption. Of course it is not wrong and it has become a tradition to consume a little more than in previous months.
However, in the midst of high domestic and imported inflation, awareness of adopting a halal lifestyle with moderate consumption is becoming increasingly important.
If you look at the inflation pattern in Indonesia, inflation almost always occurs in the month of Ramadan due to increased public consumption.
Second, as a reflection of the principles of ukhuwah and justice in Islamic consumption patterns, it is important to encourage worship and social piety in the form of giving alms.
Zakat, part of obligatory almsgiving, must be paid not only to purify wealth but also to help the poor and other mustahik whose numbers are increasing during the pandemic. Even though the poverty rate has decreased, the number of poor people in Indonesia is still high at 26.5 million people (BPS, 2021).
Waqf, especially cash waqf, needs to be encouraged so that its role in economic recovery and development becomes greater. According to the Indonesian Waqf Board (BWI), the potential for cash waqf reaches IDR 180 trillion per year.
However, the realization will only be around IDR 820 billion in 2021.
In fact, historical records show that Muslims during the Abbasid and Ottoman eras experienced success with waqf.
At that time, many public facilities, such as education and health facilities, were built with waqf. Ramadan is the right time to remind and encourage waqf behavior.
Third, carrying out investment and production that is sharia-compliant and has a good and sustainable impact is becoming increasingly important. We have seen the magnitude of the negative impact of 'fraudulent' investment practices, both material and non-material.
Islamic teachings also strongly recommend investment in real sectors that are productive and provide great benefits to society and can maintain environmental balance and sustainability.
Investments like this usually promise fantastic profits but it is not clear what production activities they finance.
According to the Financial Services Authority (OJK), fraudulent investment practices have caused losses to the Indonesian people of up to IDR 117.4 trillion in the last 10 years. That is why, Islam strictly prohibits gharar and maysir transactions and investments.
Islamic teachings also strongly recommend investment in real sectors that are productive and provide great benefits to society and can maintain environmental balance and sustainability. This is a reflection of the principles of justice and balance in Islamic economics.
And thank God, currently there are many investment options that are sharia-compliant and profitable. Starting from shares, gold, and so on. Investing is also getting easier with digitalization or online trading systems.
With a halal and thayib lifestyle based on Islamic economic values, God willing, this year's Ramadan could be the end of the pandemic and not the beginning of the next pandemic spike.
Wallahu a'lam bi shawwab.
Disclaimer:
- Source: REPUBLIKA.ID (Published April 6 2022, with the title 'Refleksi Ekonomi Ramadan')
- The author's views do not represent the views of the Institution
