<![CDATA[The capital market plays a crucial role in a country's economy as a means for long-term fund mobilization. Over time, the concept of a sharia capital market emerged, operating based on Islamic principles, offering an alternative for investors seeking to avoid non-halal practices such as usury (riba), gharar (uncertainty), and maysir (gambling). In Indonesia, the presence of the sharia capital market is growing stronger, marked by the establishment of the Indonesian Sharia Stock Index (ISSI) and the Jakarta Islamic Index (JII) as benchmarks for the performance of sharia stocks, which are sharia stock indices consisting of 30 stocks selected from stocks that comply with Islamic sharia. Market efficiency is a fundamental issue in finance, which states that asset prices (in this case stocks) already reflect all available information. In the context of the sharia capital market, this efficiency is crucial to ensure that the prices of sharia stocks truly reflect their intrinsic value and are not manipulated.]]>
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