INVESTASI DALAM SUKUK DAN SAHAM SYARIAH: Tinjauan Hukum Ekonomi Syariah Di Pasar Modal Indonesia

Abstrak

This study aims to examine the regulations and legal aspects related to investment in Islamic capital market instruments in Indonesia, especially sukuk (Islamic bonds) and Islamic stocks, from the perspective of Islamic economic law. The Islamic capital market has been growing rapidly, especially in Muslim-majority countries such as Indonesia. By using a qualitative research method through a literature study, this research analyzes various literatures and previous studies in order to gain a deeper understanding of the validity of investing in these Islamic instruments. The results show that investment in sukuk and sharia stocks is permissible in Islam as long as it fulfills the established sharia principles. This conclusion is supported by various previous studies and strengthened by the Fatwa of the National Sharia Council-Majelis Ulama Indonesia (DSN-MUI) which regulates the Islamic capital market. In addition, there are postulates in Islamic law that emphasize the permissibility of investing in these instruments, provided that they do not contain elements of usury, gharar (uncertainty), and maysir (speculation). With clear regulations and support from Islamic financial authorities, sukuk and Islamic stocks can be an alternative investment that is not only economically beneficial but also in accordance with Islamic principles.