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Journal : Islamic Micro Finance Journal

The Perspective of Maqashid Al-Sharia Theory in the Formulation of DSN Fatwas on Stocks Cholili, Azwar; Muslih, Imam; Maghfiroh, Anisatul; Muttaqin, Muh. Syaukin; Yasid, Abu
Islamic Micro Finance Journal Vol. 1 No. 1 (2024): Edisi I, Februari 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

The capital market, as an innovation product that is an important tool in contemporary economic life, can bring the economy towards implementing Sharia principles and goals in the economic field. With the emergence of the Jakarta Islamic Index (JII), the differences between conventional and sharia capital markets are increasingly visible. By making JII a place to sell Sharia shares, customers can consider whether the Sharia capital market only depends on whether the shares being traded are halal or haram. In addition, there is a need for legal clarification regarding the actions of market players and the differences that exist between investors and speculators. Principles and objectives of Sharia economics. Utilizing the capital market to achieve beneficial objectives according to Islamic economic principles does not necessarily mean complying with Sharia
Retail Sukuk from the Perspective of Maqashid Al-Sharia Cholili, Azwar; Muslih, Imam; Muttaqin, Muh. Syaukin; Maghfiroh, Anisatul; Arifin, Sirajul
Islamic Micro Finance Journal Vol. 1 No. 2 (2024): Edisi II, Juni 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

One of the products offered in the capital market is sharia bonds (sukuk). This is a huge attraction for businesses and governments. By raising funds through the issuance of sukuk, companies and governments have access to significant resources that can be used to increase lending to Islamic financial institutions. The need for the business world and government to build infrastructure and expand private businesses is one way to activate alternative sources of financing for the business world and national economic development. In addition, there is a need for legal clarification regarding the actions of market players and the differences that exist between investors and speculators. According to Islamic law, sukuk falls into the category of muamalah, where its Sharia compliance allows innovation while adhering to the goals, principles, and objectives of Sharia economics. Utilizing sukuk to achieve beneficial objectives according to Islamic economic principles does not mean immediately enacting sharia without a clear legal basis
The Role of Istiḥsān in the Dynamism of Muamalah Jurisprudence Maghfiroh, Anisatul; Muslih, Imam; Cholili, Azwar; Muttaqin, Muh. Syaukin; Yasid, Abu
Islamic Micro Finance Journal Vol. 1 No. 2 (2024): Edisi II, Juni 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

Modern economic and social developments brought Muslim societies into the context of increasingly complex transactions, including banking, insurance, and others. This challenge raises new problems that are not only solved by the sources of Qur'anic law and hadith. Istiḥsān is a method of establishing law that is postulated in Hanafi fiqh, although its existence is still debated among fiqh scholars. This paper aims to examine the role of Istiḥsān as a method to find Islamic law, especially in the field of muamalah law. This research uses a desk-based research method, which includes searching relevant literature for data, compiling journal articles and books covering the subject matter of the research topic, and systematic analysis of the information obtained. The results of research in this paper show that istihsan is an important option in determining muamalah law, such as istitsna' transactions and bank interest, which can currently be settled by the istihsan method. In addition, istihsan also has the basic goal of eliminating mudharat and achieving maslahah