Potensi Central Bank Digital Currency (CBDC) Syariah dalam Meningkatkan Inklusi Keuangan di Sektor UMKM Halal

Abstract

The digitalization of the financial system has encouraged central banks worldwide to explore the issuance of Central Bank Digital Currency (CBDC) as a digital form of sovereign money. In the Indonesian context, which has strong potential in Islamic economics and a dominant halal micro, small, and medium enterprises (MSMEs) sector, the development of a Sharia-compliant CBDC emerges as a strategic issue. This article aims to analyze the potential of Sharia-based CBDC in enhancing financial inclusion within the halal MSMEs sector. This study adopts a qualitative approach through library research, analyzing academic journals, scholarly books, and official reports published over the last ten years. The findings indicate that Sharia-compliant CBDC has significant potential to expand halal MSMEs’ access to formal financial services by providing an efficient, secure, and low-cost digital payment system. Moreover, Sharia-based CBDC can improve transaction transparency and financial accountability, thereby facilitating the integration of halal MSMEs into the national Islamic financial ecosystem. Nevertheless, the implementation of Sharia-compliant CBDC also faces several challenges, including regulatory readiness, digital and financial literacy among MSMEs, and the availability of technological infrastructure. Therefore, the development of Sharia-based CBDC requires a comprehensive and collaborative policy framework grounded in the principles of maqashid al-shariah to ensure its optimal contribution to financial inclusion and sustainable economic empowerment of halal MSMEs.