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All Journal Journal of Economicate Studies Jurnal Hukum Ekonomi Islam (JHEI) Muqaranah
Dena Ayu
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Religion Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Journal of Economicate Studies

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Regulatory Dynamics of Sharia Securities in Indonesia’s Islamic Capital Market Dena Ayu
Journal of Economicate Studies Vol. 6 No. 2 (2022): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v6i2.666

Abstract

This study investigates the classification, governance, and institutional dynamics of Sharia securities within Indonesia’s Islamic capital market. Using a qualitative methodology grounded in document and thematic analysis, it explores how regulatory bodies—including the Financial Services Authority (OJK), the National Sharia Council (DSN-MUI), and the Indonesia Stock Exchange—coordinate to ensure Sharia compliance. Findings reveal that while regulatory instruments such as the Sharia Securities List (DES) and Jakarta Islamic Index have improved transparency and compliance, overlapping jurisdictions and limited enforcement mechanisms present notable challenges. Additionally, gaps in investor literacy and underdeveloped Sharia auditing hinder wider market participation. However, the market holds significant growth potential due to strong demographic demand, supportive government policy, and technological opportunities in fintech. The study offers theoretical and practical insights into strengthening institutional trust, regulatory harmonization, and ethical investing within Indonesia’s Islamic finance framework.
Co-Authors Abda Abda TATI NURHAYATI Witro, Doli