<![CDATA[This study aims to analyze the application of maqāṣid al-sharī‘ah principles in the regulation of green sukuk in Indonesia as a Sharia-compliant financial instrument supporting sustainable development. Green sukuk are Islamic securities that are not classified as debt instruments, but rather represent ownership of assets or projects being financed, particularly environmentally friendly projects such as renewable energy, energy efficiency, waste management, sustainable transportation, and climate change adaptation. This research employs a normative juridical approach by examining laws and regulations governing green sukuk, including regulations issued by the Financial Services Authority (OJK) and fatwas of the National Sharia Council of the Indonesian Ulama Council (DSN-MUI). The analysis links these legal provisions with the framework of maqāṣid al-sharī‘ah as the fundamental objectives of Islamic law. The findings indicate that Indonesia’s green sukuk regulations are substantially aligned with maqāṣid al-sharī‘ah principles, particularly in safeguarding religion (ḥifẓ al-dīn) through Sharia compliance, protecting life and the environment (ḥifẓ al-nafs and ḥifẓ al-bī’ah) through sustainable project financing, preserving intellect (ḥifẓ al-‘aql) through governance and transparency, and protecting wealth (ḥifẓ al-māl) through fair asset management and return mechanisms free from riba, gharar, and maysir. Therefore, green sukuk function not only as Sharia financial instruments but also as a means of realizing justice, sustainability, and public welfare within Islamic economic law in Indonesia.]]>
Copyrights © 2025
