Getting to Know the Shariah Capital Market : Halal Investment in the Modern Era

Abstract

The development of the modern economy requires Muslims to be able to adapt to the contemporary financial system without ignoring the principles of sharia. One form of such adaptation is the existence of the sharia capital market, namely a capital market system based on Islamic teachings and free from elements of usury, gharar, and maisir. The sharia capital market is not only an alternative halal investment, but also reDesiarto (n.d.)flects the practical needs in creating a fair and sustainable financial system. Instruments such as sharia stocks, sukuk, and sharia mutual funds are solutions for Muslim investors who want to invest ethically. In Indonesia, the development of the sharia capital market is supported by regulations from the OJK, BEI, and fatwas from the DSN-MUI. However, challenges such as low sharia financial literacy are still major obstacles. Therefore, the introduction and understanding of the concept of the sharia capital market are very necessary in order to encourage the creation of a financially intelligent society and continue to uphold Islamic values in its economic activities.