PERBANDINGAN MODEL KELEMBAGAAN EKONOMI ISLAM DI UNI EMIRAT ARAB DAN INGGRIS: ANALISIS STATE-DRIVEN DAN MARKET-DRIVEN

Abstract

The development of the global Islamic economy in the 2020–2025 period shows significant strengthening in institutional aspects, which form the foundation of the Islamic financial system. The United Arab Emirates (UAE) and the United Kingdom are two countries with different institutional approaches, but both play a strategic role in the global Islamic economic architecture. This study aims to analyze the institutional dynamics of the Islamic economy in both countries by emphasizing the aspects of institutional model implementation, strategic challenges, and institutional reflections based on the latest literature review. The research method uses a qualitative-descriptive approach through a literature study of regulatory reports, scientific publications, and international documents for the period 2020–2025. The results show that the UAE has adopted a state-driven institutional model through centralized regulatory coordination and harmonization of Sharia standards, while the UK has implemented a market-driven model with regulatory flexibility and innovation in Sharia financial products. Institutional reflections show that institutional effectiveness depends on the quality of regulation, the readiness of digital infrastructure, and the ability to adapt to global market dynamics.