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All Journal Jurnal Point Equilibrium Manajemen dan Akuntansi
Fikahan Melda
UIN Syekh Ali Hasan Ahmad Addary, Kota Padangsidimpuan
Economics, Econometrics & Finance

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Peran Surat Berharga Syariah (SBSN) dalam Pertumbuhan Pembangunan Ekonomi Indonesia: The Role of State Sharia Securities (SBSN) in Indonesia's Economic Development Growth Dea Novika Natama Harahap; Fikahan Melda; Abdul Nasser Hasibuan
Jurnal Point Equilibrium Manajemen dan Akuntansi Vol. 7 No. 2 (2025): Jurnal Point Equilibrium Manajemen dan Akuntansi
Publisher : Universitas Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59963/jpema.v7i2.492

Abstract

This study employs a qualitative method with a library research approach aimed at analyzing the role of sukuk in promoting national economic growth in Indonesia. The data were obtained from secondary sources such as academic literature, journals, books, and relevant research reports. The analysis was conducted theoretically to derive objective and comprehensive conclusions. The findings reveal that national economic growth can be stimulated through the issuance of Islamic bonds or sukuk, which include State Sukuk (Surat Berharga Syariah Negara/SBSN) and corporate sukuk. The issuance of SBSN has contributed significantly to increasing state revenue and financing strategic projects in various sectors such as energy, telecommunications, transportation, agriculture, manufacturing, and housing. Furthermore, sukuk plays a vital role in expanding the Islamic financial market, diversifying the investor base, providing alternative investment instruments, and optimizing the use of state assets and public funds outside the conventional banking system. Therefore, sukuk serves as a strategic instrument in strengthening the national economy based on Sharia principles.
EFESIENSI PASAR MODAL SYARIAH: Efficiency of Sharia Capital Market in Indonesia Fikahan Melda; Dea Novika Natama Harahap; Budi Gautama Siregar
Jurnal Point Equilibrium Manajemen dan Akuntansi Vol. 7 No. 2 (2025): Jurnal Point Equilibrium Manajemen dan Akuntansi
Publisher : Universitas Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59963/jpema.v7i2.496

Abstract

The capital market plays a crucial role in a country's economy as a means for long-term fund mobilization. Over time, the concept of a sharia capital market emerged, operating based on Islamic principles, offering an alternative for investors seeking to avoid non-halal practices such as usury (riba), gharar (uncertainty), and maysir (gambling). In Indonesia, the presence of the sharia capital market is growing stronger, marked by the establishment of the Indonesian Sharia Stock Index (ISSI) and the Jakarta Islamic Index (JII) as benchmarks for the performance of sharia stocks, which are sharia stock indices consisting of 30 stocks selected from stocks that comply with Islamic sharia. Market efficiency is a fundamental issue in finance, which states that asset prices (in this case stocks) already reflect all available information. In the context of the sharia capital market, this efficiency is crucial to ensure that the prices of sharia stocks truly reflect their intrinsic value and are not manipulated.
Co-Authors Abdul Nasser Hasibuan Budi Gautama Siregar Dea Novika Natama Harahap