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Contact Name
Ali Audah
Contact Email
jurnalstaia@gmail.com
Phone
+62819842880
Journal Mail Official
jurnalstaia@gmail.com
Editorial Address
Sekolah Tinggi Agama Islam At-Tahdzib Jl.Ngoro-Kandangan KM 3 PA Rejoagung, Ngoro, Jombang, Jawa Timur, Indonesia 61473
Location
Kab. jombang,
Jawa timur
INDONESIA
At-Tahdzib: Jurnal Studi Islam dan Muamalah
Published by STAI At-Tahdzib
ISSN : 20897723     EISSN : 25031929     DOI : 10.61181
At-Tahdzib: Jurnal Studi Islam dan Muamalah is an academic journal that focuses (not limited) on in-depth studies on Islamic studies and muamalah (economic and social aspects of Islam). This journal aims to facilitate scientific discussion and dissemination of knowledge in the field of Islamic religious sciences and the application of sharia principles in economic and social life. Improve understanding of Islamic theory and practice in a modern context. Encourage high-quality research in the field of Islamic studies and muamalah. Provide a platform for academics, researchers, and practitioners to share knowledge and experiences. At-Tahdzib: Jurnal Studi Islam dan Muamalah covers various aspects of Islamic studies, including history, tafsir, hadith, fiqh, and contemporary Islamic theories. Research examining the development of Islamic thought and its application in modern society is also a major concern. Articles discussing the principles of Islamic economics, trade law, sharia financial management, and business ethics in an Islamic context. This includes studies on sharia-compliant economic practices as well as challenges and innovations in this field. At-Tahdzib: Jurnal Studi Islam dan Muamalah publishes articles in English. The article acceptance process is carried out through peer-review to ensure high quality and scientific contribution. Published since 2013 every March and September by the Institute for Research, Development and Community Service (LP3M) of the Sekolah Tinggi Agama Islam At-Tahdzib Rejoagung, Ngoro, Jombang, East Java, Indonesia. For more information about the latest edition, author guidelines, or access to articles, contact the editorial team via the email listed
Arjuna Subject : Ilmu Sosial - Hukum
Articles 231 Documents
Reconstruction of Sharia Stock Law in Indonesia: A Normative Analysis of Musharakah Fiqh on the Jakarta Islamic Index Piryanti, Meri
At-Tahdzib: Jurnal Studi Islam dan Muamalah Vol 13 No 2 (2025): At-Tahdzib
Publisher : Sekolah Tinggi Agama Islam At-Tahdzib, Ngoro, Jombang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61181/bzep8t26

Abstract

Background. The development of the Islamic capital market in Indonesia has positioned Islamic stocks as a primary investment instrument, normatively constructed based on the musharakah contract. However, the practice of Islamic stocks, represented by the Jakarta Islamic Index (JII), still raises issues regarding their compliance with the substantive principles of fiqh (Islamic jurisprudence) of musharakah, particularly regarding partnership, risk sharing, and fairness. Aim. This study aims to critically analyze the suitability of sharia shares in JII with the principles of fiqh musharakah and to formulate a conceptual reconstruction of sharia shares from the perspective of sharia economic law. Methods. This study uses a normative legal approach with a library research method. The analysis was conducted through a juridical-normative approach to muamalah (Islamic jurisprudence) and a juridical-normative approach by examining fatwas from Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI), Islamic capital market regulations, the Islamic Securities List, and academic literature related to Islamic stocks and musharakah. The data were analyzed qualitatively and descriptively using a critical analysis pattern to compare the principles of musharakah jurisprudence and Islamic stock practices in the Indonesian capital market. Results. Sharia-compliant stocks in the JII have met formal sharia compliance through regulatory screening mechanisms, but do not fully reflect the substantive principles of fiqh of musharakah. Partnership relations, real risk sharing, and the principle of fairness are still diminished due to the dominant capital gain orientation and the transactional nature of share ownership. This study offers a theoretical contribution in the form of a reconstruction of sharia-compliant stocks as partnership-based equity that emphasizes substantive sharia compliance, risk sharing, and a maqasid al-syariah orientation.