Legal Perspective: Sharia Online Trading System in Indonesia Capital Market

Lastuti Abubakar, Tri Handayani

Abstract


One of the strategic issues in Indonesia's sharia capital market development is interest of retail investors to invest is low. In addition to the literacy of the sharia capital market, the trading system plays a role in increasing investor interest. Indonesia capital market has developed Sharia Online Trading System (SOTS) to expand and facilitate retail investors to transact in sharia capital market. Indonesia is the only country that implements SOTS in the capital market. This research aims to create a legal perspective study of the implementation of SOTS, particularly related to sharia principles compliance in the capital market. This Research was conducted by using the normative juridical method with an analytical descriptive approach and used secondary data. Based on research legal aspects, SOTS is a trading system that can create the purposes sharia capital market, which are efficient, fair and orderly trading with sharia complied. The SOTS Mechanism should comply with sharia principles based on the Fatwa of DSN-MUI No: 80 / DSN-MUI / III / 2011 on Implementation of Sharia Principles in Securities Trading Mechanism in Equity in the Regular Market of Stock Exchange. Sharia ownership transfer; Objects of sale and purchase and legal protection for the parties is an issue that is closely related to SOTS compliance with sharia principles.


Keywords


Sharia Online Trading System-Sharia Compliance- Sharia capital market

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References


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