Stock Zakat in Indonesia: A Maqāṣid al-Sharī‘ah Analysis of Non-Halal Income

Hasniati; Chuzaimatus Saadah

doi:10.28918/elhisbah.v6i1.14979

Authors

Hasniati Institut Agama Islam Negeri Kendari
Chuzaimatus Saadah Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

DOI:

https://doi.org/10.28918/elhisbah.v6i1.14979

Abstract

This study examines the policy of tolerance toward interest and non-halal income in sharia-compliant stocks and analyzes its application to stock zakat. Using a normative juridical approach, this study analyzes relevant regulations, namely DSN-MUI Fatwa No. 135/DSN-MUI/V/2020, POJK No. 35/POJK.04/2017, and POJK No. 8 of 2025, through the framework of maqāṣid al-sharī‘ah. The data were analyzed using descriptive qualitative analysis to understand the legal norms related to the tolerance of interest and non-halal income in sharia-compliant stocks. The findings show that stock zakat in Indonesia faces significant challenges in terms of sharia compliance, particularly regarding the tolerance of riba and non-halal income. Although tolerance may be permitted to address urgent needs (ḍarūrah), the principles of maqāṣid al-sharī‘ah require that the tolerance of interest and non-halal income be viewed as a short-term mitigation measure rather than a permanent justification. This policy must continue to uphold the fundamental values of Islam, particularly those oriented toward hifz al-dīn and hifz al-māl. The contribution of this study lies in providing a deeper understanding of the application of maqāṣid al-sharī‘ah in the context of stock zakat. It also offers policy recommendations that are more oriented toward protecting fundamental Islamic principles, especially hifz al-dīn and hifz al-māl, within the regulation of stock zakat in Indonesia.

Keywords:

Maqāṣid al-Sharī‘ah, Non-Halal Income, Shariah Stocks, Tolerance for Interest, Stock Zakat

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