Oman Fathurrahman SW
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Islamic Law Perspective on Sharia Stocks in the Capital Market as an Investment Alternative for Investors A. Hanief Alfadhil Sulaeman; Oman Fathurrahman SW
al-Afkar, Journal For Islamic Studies Vol. 8 No. 4 (2025)
Publisher : Perkumpulan Dosen Fakultas Agama Islam Indramayu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/afkarjournal.v8i4.1805

Abstract

This research aims to analyze Islamic stocks as an alternative investment that aligns with Sharia principles in the Indonesian capital market. The primary focus of the study is to understand the mechanism of Islamic stock investments, the legal foundations supporting them, as well as the challenges and opportunities for their development. Given the increasing interest in Sharia-compliant investments, this research also seeks to provide a deeper understanding of the contribution of Islamic stocks to the Indonesian economy and the importance of financial literacy in the community. The methodology used in this study is a qualitative approach with a literature review, which includes analyzing primary sources such as the Qur'an, Hadith, and relevant literature on Sharia investments and the capital market. Additionally, this research examines the regulations governing the Islamic capital market in Indonesia, including the screening process for Sharia-compliant stocks by the Financial Services Authority (OJK). The findings show that although the Islamic stock market in Indonesia has grown significantly, there are still major challenges regarding the lack of public understanding of the mechanisms and legal foundations of Islamic stocks. The strict screening process ensures that listed stocks comply with Sharia principles. The study also highlights the need for more comprehensive education and outreach regarding Islamic stocks to increase public participation in the Sharia-compliant capital market. This research is expected to provide insights for investors, regulators, and market participants in developing the Islamic capital market in Indonesia and enhancing financial literacy within the community.  
Analysis of the Relevance of the Application of Taklifi and Wadh'i Laws in Modern Islamic Economics Ahmad Fathul Huda; Oman Fathurrahman SW
al-Afkar, Journal For Islamic Studies Vol. 8 No. 4 (2025)
Publisher : Perkumpulan Dosen Fakultas Agama Islam Indramayu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31943/afkarjournal.v8i4.1822

Abstract

This research aims to analyze how the roles of Hukum Taklifi and Wadh’i can be applied in establishing Islamic economic law and their relevance to modern economic transactions. Hukum Taklifi provides moral guidance by defining obligations, prohibitions, and allowances in the economic context, such as the obligation to pay zakat and the prohibition of usury (riba). Meanwhile, Hukum Wadh’i regulates the conditions for the validity of economic transactions, including contract clarity and asset ownership. Through a case study of the application of these laws in murabaha contracts within Islamic banking, this research highlights that these laws not only ensure the validity of transactions but also play a crucial role in maintaining fairness and transparency in the modern Islamic financial system. A descriptive approach using library research methods is employed, focusing on Islamic jurisprudence literature to provide an overview of how Taklifi and Wadh’i can contribute to the establishment of Islamic economic law in the contemporary era.