Sharia Interbank Money Market (PUAS) is a short-term investment activity in rupiah between market participants based on the principle of mudharabah, which is a funder's agreement with fund managers to carry out profit-making activities, and the profits will be distributed to both parties based on a previously agreed ratio. In order to support Bank Indonesia's objectives to achieve and maintain rupiah stability, Bank Indonesia may also exercise monetary control based on sharia principles. One of the achievements of the objectives referred to above is the controlled annual inflation rate, which is the final target of monetary policy carried out by Bank Indonesia. To achieve the final target of monetary policy, Bank Indonesia can exercise monetary control based on sharia principles, namely through Islamic monetary operations, which further affect the liquidity of Islamic banks. The implementation of Islamic monetary operations affects the level of money market yields between Islamic banks. The level of yield of PUAS as a liquidity instrument for Islamic banking will affect the financing issued by Islamic banks. Financing issued by the banking sector will affect the real sector which is expected to be able to achieve the final target of monetary policy. This study aims to determine the partial influence of SBIS on Islamic interbank money market transactions in 2017-2021 and the influence of inflation on Islamic interbank money market transactions in 2017-2021. The data used in this study is secondary data obtained from Bank Indonesia's official website in the form of monthly SBIS, Inflation, and Islamic interbank money market transactions from January 2017 to December 2021. The research method used is with a quantitative approach. The data analysis techniques used are descriptive statistical analysis, classical assumption test, multiple linear regression analysis, t test, f test, and determination coefficient test. Based on the results of data analysis, it can be concluded that patrially SBIS has a significant negative effect on Islamic interbank money maret transactions, and inflation patrially has no effect on Islamic interbank money market transactions. SBIS and inflation simultaneously affect money market transactions Islamic interbank in 2017-2021.