Jakarta, Armfalcon.com – Are there investment instruments that are free from elements that conflict with Islamic law, but can be started with small capital? The answer is of course there is, even the number is very much.
Islamic investment instruments in Indonesia are certainly not small. Some come from real assets and some come from financial assets.
Certainly, this investment instrument does not contain elements of usury (additional withdrawal from principal assets or capital), gharar (uncertainty), is related to illicit substances, is full of speculation, and contains fraud.
Apart from being supervised by the Financial Services Authority (OJK) and the Commodity Futures Trading Supervisory Agency (Bappebti), sharia investment instruments also receive supervision from the Sharia Supervisory Board of the Indonesian Ulema Council (DSN-MUI).
For those of you who are interested in investing in Islamic instruments, here are options that you can try.
Islamic deposits are of course the simplest instruments.
This sharia banking product functions as a depository for customer funds with profits or profit sharing that has been agreed beforehand between the bank and its customers.
The contract used in sharia deposits is mudharabah, namely a cooperation contract between the owner of capital (customer) and the manager of capital (bank), in which profits are shared based on a previous agreement.
Launching an article on the Pegadaian website, investing in gold is a sharia investment. This precious metal was even popular in the era of Rasulullah SAW.
Investment in gold itself can also be done in installments or installments. The contract used in investing in gold is a buy-sell contract (Salam), while those who repay in installments will use the Rahn contract, a loan agreement by keeping collateral.
The scholars agreed that this debt agreement This may be done as long as the collateral can be legally held or controlled by the debtor.
It is an investment instrument in the form of shares, but of course it does not conflict with sharia principles in the Capital Market.
All sharia shares in the Capital Market are included in the Sharia Securities List (DES), which are issued by the OJK periodically, every May and November. Certainly sharia issuers do not carry out business activities that contain gambling or games that are classified as gambling, trading that is prohibited according to sharia, ribawi financial services, buying and selling risks that contain uncertainty, and distribution of illicit goods.
The interesting thing about Islamic stocks is that all Islamic issuers are only allowed to have interest-based debt with a maximum value of 45% of total assets, and total interest income and other non-halal income of no more than 10% of total business income.
As is known, you can search for sharia stocks that are members of the Indonesian Sharia Stock Index (ISSI).
Sukuk are often referred to as Islamic bonds. What distinguishes sukuk from bonds is that bonds are debt acknowledgments, while sukuk are securities or certificates of ownership of assets based on sharia principles.
Apart from being issued by the state, there are also sukuk issued by private companies.
Yields from conventional bonds are coupons like interest on a loan, but in Islam the interest system in finance is considered usury.
Sharia mutual funds
In essence, mutual funds are a collection of assets managed by investment managers. The assets in question are stocks, bonds, securities, and deposits.
If the title is only sharia, then the assets or securities invested are different from conventional mutual funds.
In Islamic mutual funds, your investment will not be placed in stocks related to the sale and purchase of cigarettes, liquor, and the like, or if there are bond instruments, Islamic mutual funds will place their funds in sukuk.
In essence, there are no instruments that violate the principles of Islamic law in the mutual fund portfolio.
The main features that exist in Islamic mutual funds but not in conventional mutual funds are features cleansing, or the process of clearing profits from income that is not in accordance with sharia principles. That income will be used for charitable purposes.
Until now, there is no mutual fund custodian bank originating from Islamic banks. The deposited funds will certainly receive interest from the bank. Therefore these funds must becleansing first.
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