Article Per Year (5 Year)
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This Author published in this journals
All Journal Nusantara: Journal Of Law Studies Journal of Nusantara Economy
Nik Abdul Rahim Nik Abdul Ghani
Universiti Kebangsaan Malaysia, Malaysia
Religion Humanities Law, Crime, Criminology & Criminal Justice

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Stock Scalping and Shariah Legitimacy in Modern Capital Markets Nik Abdul Rahim Nik Abdul Ghani; Hanafi Nazri; Nurul Asikin Binti Abdul Razak
Nusantara: Journal of Law Studies Vol. 5 No. 1 (2026): Nusantara: Journal of Law Studies
Publisher : PT. Islamic Research Publiser

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.18357939

Abstract

The rapid advancement of financial technology has led to the emergence of various stock trading strategies, including scalping. Scalping is a short-term trading technique in which traders seek to profit from small price movements over very brief timeframes. Due to its fast-paced nature, scalping is often perceived as a high-risk strategy and has raised concerns regarding its compatibility with Shariah principles, particularly in relation to gambling (maisir) and excessive uncertainty (gharar). This study aims to examine scalping practices among stock traders in Malaysia, analyze the associated Shariah issues, and formulate Shariah-compliant guidelines for their implementation. This research employs a qualitative approach, combining content analysis of classical and contemporary Islamic legal sources with field studies involving stock market practitioners in Malaysia. Primary data were collected through in-depth interviews and observations, while secondary data were obtained from scholarly literature, fatwas, and relevant regulatory documents in Islamic finance. The findings indicate that scalping does not inherently involve prohibited elements such as maisir or gharar, if trading decisions are based on adequate technical and fundamental analyses rather than speculative assumptions. The study also finds that profits generated through scalping arise from natural market price movements driven by supply and demand dynamics, which are permissible under Shariah principles. This study contributes to the discourse on Islamic finance and muʿāmalāt by clarifying the Shariah status of scalping practices and offering practical guidance to support Shariah-compliant stock trading in the Malaysian capital market.
Negotiating Tradition and Modernity: The Practice of Prohibiting Marriage in the Month of Suro among Javanese Muslims in South Lampung Supriyadi; Nik Abdul Rahim Nik Abdul Ghani
Nusantara: Journal of Law Studies Vol. 4 No. 2 (2025): Nusantara: Journal of Law Studies
Publisher : PT. Islamic Research Publiser

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.17340470

Abstract

This study aims to explain the practice of prohibiting marriage in the month of Suro within Javanese customs, a tradition deeply rooted in cultural beliefs and social values. The research employs a combination of field study and library research to obtain both empirical and theoretical perspectives. Data collection techniques include interviews, observations, and documentation, allowing for a comprehensive understanding of the phenomenon. Primary data were gathered from local respondents, while secondary data were obtained from relevant literature and historical sources. To ensure data validity and authenticity, the study utilized source triangulation, and data were analyzed using the Miles and Huberman interactive model. The findings reveal that most villagers, particularly the older generation, continue to uphold the prohibition of marriage in Suro as part of their collective cultural identity. They regard this practice as a symbol of respect for ancestral traditions that must be preserved. Conversely, the younger generation demonstrates a gradual shift in perception. Many young couples view the prohibition as merely a myth without rational or religious justification, reflecting a shift in cultural values influenced by education, modernization, and changing social structures. Academically, this study contributes to enriching interdisciplinary discourse among law, culture, and religion in Indonesia. It provides a critical lens for understanding how local wisdom interacts with contemporary rationality, offering insights into the dynamic negotiation between cultural preservation and modernization. This research also serves as a reference for future studies exploring the adaptation of traditional customs within modern social realities.
Implementing Cryptocurrency Zakat Payments: An Analytical Study of the Federal Territories Islamic Religious Council Zakat Collection Centre (PPZ-MAIWP) Muhammad Al-Husam Mohd Kamal Nazmi; Md Yazid Ahmad; Nik Abdul Rahim Nik Abdul Ghani
Journal of Nusantara Economy Vol. 5 No. 1 (2026): Journal Of Nusantara Economy
Publisher : PT. Islamic Research Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66325/nusantaraeconomy.v5i1.389

Abstract

The rapid growth of cryptocurrency and other digital assets has introduced new challenges and opportunities for zakat administration in Muslim-majority countries. In Malaysia, where digital assets are legally recognised as commodities under the existing regulatory framework, official zakat institutions have begun exploring innovative mechanisms to facilitate zakat payments using cryptocurrency. Despite this development, empirical research examining the institutional implementation of cryptocurrency zakat payments remains limited. This study aims to analyse the implementation mechanism, governance structure, and Shariah compliance of cryptocurrency zakat payments at the Federal Territories Islamic Religious Council Zakat Collection Centre (PPZ-MAIWP) through its collaboration with Sharlife Sdn. Bhd. Employing a qualitative field research approach, the study integrates document analysis, semi-structured interviews with representatives of PPZ-MAIWP and Sharlife Sdn. Bhd., and a review of relevant legal, regulatory, and Shariah literature. The findings reveal that the institutional framework developed through this collaboration provides a structured, transparent, and technologically secure mechanism for facilitating cryptocurrency zakat payments while ensuring compliance with fundamental Shariah principles, including ownership (al-milk), lawful wealth (al-māl al-mutaqawwam), and valid transfer (tamlik). The initiative has also attracted significant attention beyond Malaysia, demonstrating its potential as a model for digital zakat governance in the global Islamic finance ecosystem. Nevertheless, the study identifies the need for more comprehensive Shariah governance standards, clearer regulatory guidelines for cryptocurrency eligibility, and stronger cybersecurity safeguards to mitigate operational risks and enhance public confidence. The study concludes that cryptocurrency-based zakat payment has considerable potential to expand zakat collection, improve institutional efficiency, and strengthen the distribution of zakat funds to eligible beneficiaries (asnaf). Its primary scientific contribution lies in proposing an integrated institutional framework that combines digital financial innovation, Shariah governance, and maqāṣid al-sharīʿah principles to support the sustainable transformation of contemporary zakat management.  
Co-Authors Hanafi Nazri Md Yazid Ahmad Muhammad Al-Husam Mohd Kamal Nazmi Nurul Asikin Binti Abdul Razak Supriyadi