A lot of Islamic management systems as bank, insurance, union, hotel, and tourism, turn into the strength and interests for Indonesian Muslims. So does capital market. Indonesian Muslims are expected to prefer capital investment institutions based on Islamic principles like Islamic capital market.
For one reason, the Islamic capital market has employed financial management system to usury practices. The usury itself refers to a practice of financial management system against the Islamic principles.
The aforementioned paragraphs were uttered by Vice Chancellor of Universitas Muhammadiyah Yogyakarta (UMY) Dr. Gunawan Budiyanto in a remark of a talkshow of Islamic Capital Market. The event raised a theme of “Let’s Invest in Islamic Capital Market”. It was organized by Regional Board (DPD) of Muhammadiyah Student Association (IMM) of Special Region of Yogyakarta on Monday (1/6) at mosque hall of K.H. Ahmad Dahlan, Ground, UMY.
According to Dr. Gunawan, Indonesia is the greatest Muslim country in the world. When they decided to invest their money, they may select capital investment institution having Islamic principles apparently. “If we choose financial or capital investment institutions implementing Islamic financial system, we would shunt from usury practices obviously forbidden by Islam. This is what we need to notice,” he asserted.
Moreover, Executive Director of Otoritas Jasa Keuangan –Financial Service Authority- (OJK) Suyatno, investment principles in Islamic capital market or other investment institutions are similar that it aims at gaining profits and has risks. “The difference is that investment products as stock, mutual funds, or others in Islamic capital market is not against Islamic principles. Therefore, the company is required to apply Islamic procedures and managements,” he indormed.
Additionally, the talkshow was initiated by DPD IMM DIY cooperating with Islamic Capital Market, Otoritas Jasa Keuangan (OJK). There were also stands of various national investment service companies as Bank Mandiri, BNI, Trimegah, Sinamas, and others.
