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MEKANISMEN PASAR MODAL SYARIAH Totok Adhi Prasetyo
At-Tawazun, Jurnal Ekonomi Syariah Vol. 7 No. 02 (2019): December
Publisher : Ekonomi Syariah STAI Sangatta Kutai Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55799/tawazun.v7i02.28

Abstract

A country's economic development cannot be separated from the capital market. The capital market functions as a means to mobilize public funds and to seek ownership of a company's shares by selling it. The Islamic capital market functions as an investment medium for Muslims in the capital market in line with Islamic principles. Some criteria for sharia capital market formation are to form a fair price, the existence of perfect information, free from usury, gharar, gambling and other transactions that conflict with sharia rules. Shares traded on the Islamic capital market must come from issuers that meet the criteria for sharia and bonds issued must use mudarabah, musyarakah, ijarah, istisna 'and salam. In this paper, the author will discuss the Islamic capital market and matters related to it. Matters raised in this discussion include the understanding of the Islamic capital market, its history, its functions, its laws, the actors involved in it, the types of capital markets, its instruments, how the Jakarta Islamic Index operates, how the mechanism of sharia capital markets operates, how determine stock prices, the characteristics of the capital market, how the Islamic fist against speculation, the constraints of developing the Islamic capital market and how the development strategy.
ANALISIS INDEKS HARGA SAHAM SYARIAH INTERNASIONAL DAN VARIABEL MAKRO EKONOMI TERHADAP JAKARTA ISLAMIC INDEX Totok Adhi Prasetyo
At-Tawazun, Jurnal Ekonomi Syariah Vol. 10 No. 01 (2022): May
Publisher : Ekonomi Syariah STAI Sangatta Kutai Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55799/tawazun.v10i01.154

Abstract

The Impact of International Islamic Stock Market and Macroeconomic Variables Towards Jakarta Islamic Index (JII). This research atempts to examine the impact of international Islamic stock market and macroeconomic variables towards Jakarta Islamic Index (JII). By using Vector Error Correction Model (VECM) as the method, this research utilizes time series monthly data from January 2015 to October 2020. The finding shows that JII is positively significantly affected by DJIEU, DJIMY and IPI, and it is negatively significantly affected by DJIJP, IMUS, M2 and SBIS.JII reaches its stability condition fastest when dealing with money supply shock. This study recommends: strengthening coordination between monetary authority and financial services authority, strengthening real sector of the economy, minimizing the influence of interest Rate towards Islamic financial market, and developing early warning system to anticipate financial crises.