Retail Sukuk from the Perspective of Maqashid Al-Sharia

Azwar Cholili; Imam Muslih; Muh. Syaukin Muttaqin; Anisatul Maghfiroh; Sirajul Arifin

Authors

Azwar Cholili Institut Agama Islam Al Fatimah Bojonegoro
Imam Muslih Universitas KH. Mukhtar Syafa’at Banyuwangi
Muh. Syaukin Muttaqin UIN Sunan Ampel Surabaya
Anisatul Maghfiroh Sekolah Tinggi Agama Islam Al Muntahy Sampang
Sirajul Arifin UIN Sunan Ampel Surabaya

Keywords:

Jakarta Islamic Index, sukuk, sukuk ritel, Maqashidus Syariah

Abstract

One of the products offered in the capital market is sharia bonds (sukuk). This is a huge attraction for businesses and governments. By raising funds through the issuance of sukuk, companies and governments have access to significant resources that can be used to increase lending to Islamic financial institutions. The need for the business world and government to build infrastructure and expand private businesses is one way to activate alternative sources of financing for the business world and national economic development. In addition, there is a need for legal clarification regarding the actions of market players and the differences that exist between investors and speculators. According to Islamic law, sukuk falls into the category of muamalah, where its Sharia compliance allows innovation while adhering to the goals, principles, and objectives of Sharia economics. Utilizing sukuk to achieve beneficial objectives according to Islamic economic principles does not mean immediately enacting sharia without a clear legal basis

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