International Journal of Islamic Thought and Humanities
Vol. 4 No. 2 (2025): International Journal of Islamic Thought and Humanities

An Analysis of the Islamic Capital Market as an Alternative Income Source for Gen Z Students: A Case Study from Faculty of Islamic Economics and Business

Amirullah, Sir Haykal Alam (Unknown)
Nabila, Adzkia (Unknown)
Aizzah, Dwi Izky (Unknown)
Putra Habibi, M Dhuha Agfa Davi (Unknown)



Article Info

Publish Date
27 Nov 2025

Abstract

This study is motivated by the need for students to obtain flexible alternative income without disrupting their tight academic schedules. This research aims to analyse the potential of the Islamic capital market as an income source for Gen Z students, with a case study at the Faculty of Islamic Economics and Business (FEBI) UINSA. Using a descriptive qualitative method, data were collected through in-depth interviews with three student investors with diverse backgrounds, triggers, and initial capital. The results indicate a direct correlation between preparatory research and profitability, whereas emotion-based investing (FOMO) leads to underperformance. The study's key finding is that initial capital size is not the primary determinant of success; the participant with the lowest capital achieved the highest nominal profit through strong fundamental and technical analysis. The study concludes that the Islamic capital market has significant potential as an alternative income source for students, provided it is supported by adequate literacy and methodology, and recommends that educational institutions strengthen capital market education to mitigate speculative risks.

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Journal Info

Abbrev

ijith

Publisher

Subject

Religion Humanities Social Sciences

Description

International Journal of Islamic Thought and Humanities is a international journal that is published by Sekolah Tinggi Agama Islam Taruna Surabaya, Indonesia. The journal endeavors to provide forums for academicians and researchers who are interested in the discussion of current and future issues on ...