Macroprudential policies play a crucial role in mitigating systemic risk and maintaining financial stability, particularly in the aftermath of the 2008 financial crisis. In Indonesia, Islamic banking remains more volatile, with a non-performing loan (NPL) rate of 0.78%, which is higher than that of conventional banking. Additionally, external risks such as climate change also threaten stability, as evidenced by the increase in NPLs caused by extreme weather events in various countries. Therefore, synergy between macroprudential policies and green finance is needed to strengthen the resilience of the financial system. The challenge is not only technical but also conceptual, namely, how to integrate the two with Islamic values. Synergy based on the principles of hifz al-mal and hifz al-bi’ah in maqashid al-shari'ah is crucial for achieving fair, sustainable, and Islamic financial stability. However, the integration of these policies is not yet optimal and requires further study. The purpose of this study is to analyze the impact of macroprudential policies and green finance on financial system stability, as well as the relevance of maqashid shariah principles. This approach seeks to establish coherence between the policy framework, the implementation of green finance, and maqashid shariah values, thereby providing evidence-based recommendations to promote fair and sustainable long-term stability. This study employs a mixed-method approach with a Sequential Explanatory Design, starting with quantitative analysis followed by qualitative analysis. Secondary data were obtained from official reports of OJK, Bank Indonesia, and internal documents of Islamic banks. In contrast, primary data were collected through in-depth interviews with academics, Islamic economists, financial policymakers, and experts on maqashid shariah. The sample consisted of 10 Islamic Commercial Banks during the 2019–2024 period, selected using purposive sampling. Panel data were analyzed using EViews 13, and qualitative analysis was conducted through thematic analysis with Atlas.ti 9.0. The results of the study show that: 1) Macroprudential policies affect financial system stability, with CAR and CKPN significantly reducing NPF. CAR functions as a capital buffer that maintains customer confidence, while CKPN improves financing quality and asset health. Meanwhile, GWM has not had a direct impact because it focuses on aggregate liquidity. Overall, the three complement each other in strengthening the resilience of Islamic banking. 2) Green finance has not had a significant effect on financial system stability because the share of green financing and regulatory support is still low. However, strategically, it has long-term potential to increase the profitability, legitimacy, and sustainability of the Islamic financial sector. 3) The principles of maqashid shariah serve as a value framework for maintaining financial system stability and developing green finance. For financial system stability, the principles of hifz al mal, hifz al-nafs, hifz al-aql, hifz al-amn, iqamatul 'adl, al-ta'awun, and la dharar wa la dirara are applied. Meanwhile, for green finance, the principles include hifz tsarwata al-ummah, hifz al-bi’ah, and i'tibar al-ma'alat. The integration of all these principles ensures that macroprudential and green finance policies not only maintain short-term stability but also realize fair, sustainable, and falah-oriented prosperity. This finding highlights the importance of regulatory support and capacity building for Islamic financial institutions in enhancing the effective implementation of maqashid shariah principles, thereby promoting green financing and maintaining financial stability.