Does Digital Rupiah (CBDC) Comply with Sharia Principle? A Classical Literature Review. Monetary authorities in Indonesia are trying to respond to developments in digital technology by starting to review the implementation of the Digital Rupiah (CBDC). Through a white paper launched at the end of November 2022, Bank Indonesia introduced the Garuda project as part of an effort to accelerate the 2025 Indonesian payment system blueprint. A few months later, Bank Indonesia issued a Consultative Paper (CP) regarding plans to develop the Digital Rupiah. This CP is a followup to the publication of the Garuda Project White Paper: Navigating the Digital Rupiah Architecture. The massive development of CBDCs in several countries such as Nigeria, Bahamas, Bahrain and so on indicates that CBDCs can be an alternative payment instrument option which is basically a conversion of physical form to digital in cash rupiah. However, as Bank Indonesia which also manages the monetary policy mechanism in the sharia financial system, it is important to pay attention to sharia principle. This study attempts to analyze the literature on the thoughts of classical Muslim economists regarding the concept and nature of money. The five classical Muslim economists such as Ibn Khaldun, Al Ghazali, Ibn Taimiyah, Ibn Qoyyim and Al Maqrizi have different views. Broadly speaking, there are several aspects that are in accordance with sharia in digital Rupiah, such as the concept, creation, and use. However, the functional aspect of digital rupiah is still not in accordance with sharia as a store of wealth in digital assets which has the potential to hoard money.

Keywords : Digital Rupiah, Central Bank Digital Currency, Sharia Principle.