Implementation of Sukuk Investment in the Sharia Capital Market in Indonesia

Meutia Fardhita Rahma

Abstract


The aim of this research is to determine and analyze the implementation of sukuk investment in the Islamic capital market in Indonesia. To find out and analyze the impact of implementing sukuk investment on the sharia capital market in Indonesia. The method used by researchers is a normative juridical legal approach and the specifications in this research include descriptive analysis. The source and type of data in this research is secondary data obtained from literature study. Data was analyzed qualitatively. Based on the results of the research, the implementation of Sukuk Investment in the Sharia Capital Market in Indonesia is in accordance with the provisions and fatwas, starting from the mechanism for formation, issuance and management in accordance with sharia principles. The assets that form the basis of the Sukuk must not conflict with Sharia Principles in the Capital Market. SBSN is issued with the aim of financing the State Revenue and Expenditure Budget including financing project development. Funds from the issuance of sukuk collected from the public may not be used for projects that are contrary to sharia principles, such as building a cigarette factory project, financing illicit products such as those containing pork, and financing prostitution places. These sukuk funds should be used to finance projects that are for the benefit of the people and do not violate sharia rules. The impact of implementing Sukuk investment on the Sharia capital market in Indonesia is that it has a positive impact on the development of the capital market in Indonesia because the sharia capital market can attract investors who want investments that are guaranteed to be halal. With the development of the sharia capital market from year to year, it is proven that the sharia capital market is increasingly in demand from both Muslim and non-Muslim investors, this can make the sharia capital market contribute to economic growth in Indonesia.


Keywords


Capital Market; Implementation; Investment; Sukuk.

References


Journals:

Agata, Hairiza 2015 Akuntabilitas Kinerja Berbasis Syariah Untuk Mencegah Insider Trading Pada Pasar Modal. Undergraduate thesis, Fakultas Ekonomi Unissula.

Devy, Happy Sista 2015, Reaksi Pasar Terhadap Pengumuman Default Obligasi Syariah Di Indonesia. Undergraduate thesis, Fakultas Ekonomi Unissula.

Isfandiar, Ali Amin. 2009, “Akad Muamalah di Pasar Modal Syariah.” Jurnal Hukum Islam, Vol. 7, No. 1

Lastuti Abubakar dan Tri Handayani. 2017. Kesiapan Infrasutruktur Hukum Dalam Penerbitan Sukuk Sebagai Instrumen Pembiayaan Dan Investasi Untuk Mendorong Pertumbuhan Pasar Modal Syariah Indonesia”, Jurnal Jurisprudence Vol. 7 No. 1 Surakarta

Leily Hamida, Pengaruh Likuiditas Dan Leverage Terhadap Yield Sukuk Dengan Peringkat Sukuk Sebagai Variabel Intervening (Study Pada Perusahaan Non Keuangan di Bursa Efek Indonesia ), Universitas Islam Sultan Agung Semarang

Sari, Novita, Syamsurijal AK, Marlina Widiyanti., 2018. The Impact Of Islamic Capital Market Development On Economic Growth: The Case Of Indonesia. Jurnal of Smart Economic Growth. Vol. 3, No.2.

Tira Nur Fitria, 2016, Kontribusi Ekonomi Islam Dalam Pembangunan Ekonomi Nasional”, Jurnal Ilmiah Ekonomi Islam, Vol 2, no.3, p 29-40

Yenni Samri Juliati Nasution, 2015, “Peranan Pasar Modal Dalam Perekonomian Negara”, Human Falah, Vol.2, No. 1, p. 95-112

Books:

Abdul Manan. 2009, Aspek Hukum dalam Penyelenggaraan Investasi di Pasar Modal Syariah Indonesia, Kencana, Jakarta, hlm 2

Nazaruddin Abdul Wahid, 2010, Sukuk Memahami & Membedah Obligasi pada Perbankan Syariah, AR-RUZZ MEDIA, Yogyakarta,

Nuzula, Nila Firdausi; Nurlaily, Ferina 2020. Dasar-Dasar Manajemen Investasi. Universitas Brawijaya Press. Malang,

Rico Nur Ilham 2020. Manajemen investasi (fake investment versus legal investment) CV Jejak (Jejak Publisher). Sukabumi,

Sri Nurhayati dan Wasilah, 2013, Akuntansi Syariah di Indonesia, Salemba Empat, Jakarta,

Sunariyah, 2011, Pengantar Pengetahuan Pasar Modal, edisi keenam, Unit Penerbit dan Percetakan Sekolah Tinggi Ilmu Manajemen YKPN, Yogyakarta

Taufik Hidayat, 2011, Buku Pintar Investasi Syariah, Mediakita, Jakarta,

Internet:

Hanum Kusuma Dewi, “Begini Perkembangan Pasar Modal Syariah”. https://www.bareksa.com/berita/pasarmodal/

https://www.kompasiana.com/siti49231/61c3d94e06310e7be949c965/perkembangan-investasi-syariah-di-pasar-modal-indonesia-dan-global?page=2&page_images=1




DOI: http://dx.doi.org/10.30659/rlj.3.1.231-240

Refbacks

  • There are currently no refbacks.


Ratio Legis Journal has been indexed in: