Stocks Investment: Allowed or Forbidden in Islam? (English)

Oleh: Ahmad Dhiyaullatief Bachtiar (KemenLu/ Humas)

Nowadays, people in the world are still talking about the allowance of the investments, whether it is allowed of forbidden, especially in the Stock investments. But both of them have the basis for what they are encouraging is; Allowed or forbidden. Stock investments are now very famous. Because it can give much advantages in a quite easy way but also can give much loss in a short time. In the perspective of Islam, it is also still talked whether it is allowed or forbidden. Therefore, it is still being so problematic. Although there is a lot of debate among Muslim scholars on the status of stock investments in Islam, the opinion allowing stock investments tend to be stronger/ popular.

            Investments are the placement of assets, money, or cash that are expected to give the additional profits of those assets, money or cash. In the investments, there are two sides, which are return, and risk. There is a law applied in the investments that if investors offer the higher return, the higher risk that is going to be borne by the investors. Loss can also be occurred by the investors. The loss can make them losing all of their capitals (Dimas, 2012). In the Islamic perspective, investment is not specifically given the special meaning or definition. Islam wants all of the sources existing are able to be used and utilized as productive as possible, not just to be kept. In Islam, it is also mentioned that these kinds of thing like business activities and investments are so recommended. But, Islam does not interpret that investments can be done by each person, using the wrong ways just for piling up the wealth (Gideck, 2012). Investments have many forms and kinds, which one of them is stock investments. Stock is one of the precious that is traded in the stock markets that is often called as share or securities (Coki, 2008). Stock is the ownership of companies. It can have form paper, or just online statements, etc. The portion of the ownership of the companies is determined in how much the investors invest their capitals in the company, depends on how many stocks bought in the companies (Darmadji & Fakhruddin, 2001: 5).

            Because stock investments are new things in this era, so there are still a lot of pro and contra about it, especially in Islamic perspective. People who disagree with the stock investments argue that in the stock investments, there is security and obligation, which have form certificate or electronic notes. They also argue that stock investments tend to the usury, because it is not encouraged by the fiat money which is based on the gold and silver, causing the fluctuation of the prices in the stock investments. They encouraged their opinion with the dalil of usury (riba), in surah Al-Baqarah [02]: 275. Moreover, the mechanism of trading in the stock investments does not have the legal handover (ijab qabul) and have no involved commodity, which is the most fundamental thing in the trading in the Islamic perspective. If they do not have the legal handover, the consequence is that they are like selling the commodities which are not theirs. It is forbidden by Rasulullah SAW. They argue that stock investments also have 2 doers; domestic and foreign doers. Because of containing the foreign doers, the law is based on the citizenship status of each. If the doers are from the nation of non-Muslim people living in non-Muslim countries (Kafir Harbi) (Srikandi, 2009), like USA, UK, and Israel, in example, so they are not allowed to join. But, if the doers are non-Muslim people living in Islamic countries (Kafir Mu’ahad), so those foreign doers are allowed. Because in their opinion stock investments tend to be haram, they encouraged it with that dalil saying that everything that commits to forbidden (haram) is considered haram (2008).

            On the contrary, people who agree with the stock investments argue that in the stock investments, there is something called agio. Agio is the difference between the buying price and selling price. So it is not usury, because the investors buy, and sell it. It is like the trading in the conventional markets. The trading in the stock investments actually has someone to relate between the buyers and sellers called broker. Broker relates between the buyers and sellers in the stock investments, so it makes the trading be legal. So, all of the stocks are considered as commodities (sil’ah) and it is allowed. Agio is also used for the importance of investors, and categorized as public interest criteria justified in Sharia Islam (mashlahah ‘ammah), where agio is purposed to increase the wealth, not to dominate the economy by cheating. The prices in the stock investments are fluctuative because of based on the theory of supply and demand. Indeed, stock investments are speculative but not gambling. Gambling is betting money without knowing the clear information and detail about that money. In the stock investments, investors are doing the trading based on the technical analysis, like how the real trading is. It is like grosir, investors buy the stocks and sell it with the higher prices based on their own will (Hanung, 2011). In the stock investments, there is also short-selling, which is the selling of the commodities that have not been owned. Any people were wrong on defining the short-selling as “buying the stocks in the morning and selling it in the afternoon”. However, this definition is wrong. It is okay to buy stocks in the morning and sell it in the afternoon, because the commodities are already owned (2008).

            From the opinion of both sides, it was that explained the stock investments were forbidden because of similar with gambling, but the opposite said that stock investments are based on the analysis technical, not like gambling. Stock investments are not having the legal handover, but the opposite said that the trading in stock investments is related by legal broker, not just by the buyers and sellers themselves, so it is not forbidden. Moreover, the prices are not carelessly determined. Prices are based on supply and demand theory. It is also not usury, because there is no interest in stock investments. The investors get profit from selling the stocks they have with higher prices, not with the interest.

Stock investments are considered as the modern trading, but still disagreed by some people because the form of stock investments is similar with the form of gambling. But, remember that it is based on the fundamental analysis technical, not like gambling which is based on just the luck. Although stock investment is also similar with usury (riba), but it is not the same. Usury (riba) is taking the profit from the interest. Stock investments are taking profit from the agio which is the difference between the buying prices and selling prices, it is like common trading, so it is not forbidden. Stock investments allowance tend to be stronger. However, it depends on you whether you agree or not.

References:

Coki. (n.d.). Pengertian saham dan jenis saham. Retrieved April, 17, 2013, from: http://coki002.wordpress.com/pengertian-saham-dan-jenis-jenis-saham/

Dimas, S. (2012). Definisi investasi. Retrieved April, 17, 2013, from: http://definisimu.blogspot.com/2012/08/definisi-investasi.html

Gideck. (2012). Investasi dalam pandangan islam. Retrieved April, 17, 2013, from: http://gideck.blogspot.com/2012/04/1-investasi-dalam-pandangan-islam.html

Hamda, Hisbullah H. (2011). Transaksi saham di pasar modal menurut islam. Retrieved April, 28, 2013, from http://hanunghisbullahhamda.blogspot.com/2011/04/transaksi-saham-di-pasar-modal-menurut.html

Hukum pasar modal dalam pandangan islam (2008). Retrieved April, 28, 2013, from http://muslimdaily.net/opini/wawasanislam/hukum-pasar-modal-dalam-pandangan-islam.html#.UX2B5UqZvxQ

Srikandi. (2009). Kafir harbi & kafir zimmi. Retrieved May, 6, 2013, from http://srikandi-pasirsalak.blogspot.com/2009/11/kafir-harbi-kafir-zimmi.html

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Wanita, Penentu Peradaban

Jika ingin menghancurkan suatu kelompok ataupun organisasi, ada tiga hal yang perlu dilakukan. pertama adalah putus generasinya, kemudian perbodoh kadernya, dan yang terakhir adalah perburuk citranya. Dari ketiga hal tersebut dapat diambil satu inti masalah yaitu SDM.

 namun yang paling besar efeknya adalah memutus generasi kelompok tersebut. Mengapa demikian? Karena ketika generasi tersebut putus, tidak ada lagi yang meneruskan untuk mencapai visi, kalau sudah seperti ini, kehancuran organisasi hanyalah tinggal menunggu waktu.

Generasi atau cikal bakal penerus suatu bangsa atau umat, tidak akan lepas kaitannya dengan seorang wanita. Maka tak salah kalau ada yang bilang Wanita merupakan penentu peradaban. Seorang Ulama Mesir: Muhammad Quthb, pernah menyampaikan dalam pidatonya berpuluh-puluh tahun silam bahwa “seorang anak yang rusak masih bisa menjadi baik asal ia pernah mendapatkan pengasuhan seorang ibu yang baik. Sebaliknya, seorang ibu yang rusak akhlaknya, hanya akan melahirkan generasi yang rusak pula akhlaknya.” Wanita atau ibu tidak hanya menjadi pihak yang dekat dengan emosional seorang anak, tetapi juga memiliki pengaruh yang besar terhadap masa depan akhlak dari generasi yang dilahirkannya.

Ketika suatu hari ada seorang anak yang menghadapi masalah akhlak ataupun moral, anak tersebut dapat melalui masalah tersebut jika dalam hidupnya pernah mendapatkan pengasuhan dari ibu yang sholehah. dengan Pendidikan islam yang terkelola dengan baik akan membuat sang anak lekas bangkit dari masalahnya karena mengingat nasihat-nasihat rabbani yang pernah terekam dihatinya.

Sebaliknya, ketika seorang ibu memiliki akhlak yang “rusak” sejak awal, maka ia hanya  akan melahirkan generasi yang memiliki akhlak yang “rusak” pula. Sifat alami anak yang banyak meniru perilaku ibu, akan memberikan peluang untuk terjadinya transfering sifat alami ibu kepada anaknya.

Oleh karena itu, kerusakan akhlak generasi pembaharu bangsa: anak, sangat tergantung dengan akhlak ibunya, dan didikan yang ia lakukan, serta dukungan yang dilakukan oleh suaminya.

Jika seorang ibu yang sholehah mampu mengasuh 5 anak muslim dikeluarganya untuk tumbuh menjadi generasi mujahid, kita bisa hitung berapa banyak generasi yang bisa dihasilkan dari 800 juta perempuan muslim saat ini?

Seorang sahabat pernah bertanya kepada Roslullah, “Siapakah manusia di bumi ini yang harus diperlakukan dengan cara yang paling baik?”. Rosulullah menjawab, “ibumu”. “Setelah itu siapa lagi ya Rosul?”. Sekali lagi Rosul menjawab, “ibumu”. Kemudian sahabat bertanya lagi, “kemudian siapa?”. Lagi-lagi Rosul menjawab “ibumu, baru ayahmu”. (Shahih, Imam Bukhari). 

Jadilah ibu yang terbaik, dengan melahirkan generasi yang berakhlakul karimah. Semangat ibuku sayang

 

di sudut ruang istirahatku, 27 Desember 2013

15.22 WIB

Oleh: Rizqi Wardani (anggota IESC) 

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Aqidah, akhlaq dan syari ‘ah adalah suatu istilah yang melekat dalam kamus seorang muslim. Namun disini saya hanya ingin menuliskan pendapat saya mengenai syari ‘ah itu sendiri. Dalam kamus bahasa arab syari ‘ah itu diambil dari kata syari’ yang artinya jalan,  dalam arti luasnya syari ‘ah adalah jalan atau ajaran – ajaran serta hukum – hukum yang terkandung di dalam islam.

           Syariah mengatur hidup manusia sebagai individu, yaitu hamba Allah yang harus taat, tunduk, dan patuh kepada Allah. Ketaatan, ketundukkan, dan kepatuhan kepada Allah dibuktikan dalam bentuk pelaksanaan ibadah yang tata caranya diatur sedemikian rupa oleh syariah Islam. Syariah Islam mengatur pula tata hubungan antara seseorang dengan dirinya sendiri untuk mewujudkan sosok individu yang saleh, yang disebut dengan muamalah.

Syariah Islam secara mendalam dibahas dalam ilmu fiqih. Dalam ilmu fiqih menjalankan syariah Islam, beberapa yang perlu menjadi pegangan : Berpegang teguh kepada Al-Quran dan Sunah  menjauhi bid'ah (perkara yang diada-adakan). Syariah Islam telah memberi aturan yang jelas apa yang halal dan haram, maka : Tinggalkan yang subhat (meragukan) Ikuti yang wajib, dan jauhi yang haram, Hendaklah mementingkan persatuan dan menjauhi perpecahan dalam syariah, Syariah harus ditegakkan dengan upaya sungguh-sungguh (jihad) dan amar ma'ruf nahi munkar.

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            Awal mula perlu disampaikan bahwa penulis bukanlah berlatar belakang pendidikan manajemen, melainkan akuntansi dan filsafat Islam yang kebetulan sedang mengambil mata kuliah manajemen pemasaran pada semester ini. Jika terdapat kesalahan ataupun ketidak tepatan mohon dikoreksi dan dibenarkan bagi yang merasa mumpuni di bidang manajemen, khususnya di bidang pemasaran. Terimakasih.

Muqaddimah

            Ingatan masih segar akan peristiwa WTC 11 Sepetember 2001. Belum lama juga peristiwa al-Qaeda yang diganyangkan sebagai organisasi terorisme yang katanya pula pepimpin utama al-Qaeda, yakni Osamah bin Ladden telah berhasil dibunuh. Belum lagi peristiwa-peristiwa yang sekenanya berusaha menjadikan Islam adalah agama yang keras, tidak beradab, tidak kenal kaya, tidak bersih, tidak pandai dan tidak-tidak yang lainnya. Semua yang ditampilkan di media seakan-akan Islam adalah agama yang primitif. Puncaknya berujung pada Islamophobia yang dicoba untuk dikoar-koarkan guna menghancurkan peradaban Islam.

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