Instrumen Investasi Syariah di Pasar Modal: Komparasi Perkembangan Indonesia dan Dinamika Global

Article Sidebar

PDF
Published: Jul 5, 2026
DOI: https://doi.org/10.56799/ekoma.v5i5.17487

Main Article Content

Frida Eka Ristanti
Helmalia Oktaviana
Muhammad Aqim Adlan
Dede Nurrohman

Abstract

This study provides a comparative analysis of the development of Islamic investment instruments in Indonesia and global markets during the 2010–2025 period. It aims to map the evolution of instruments, compare product structures, regulatory frameworks, and supervisory systems, and identify supporting factors and constraints affecting market competitiveness. The research employs a qualitative-descriptive method through literature review and comparative analysis of regulatory documents, market reports, fatwas, books, and scholarly journals. The findings indicate that Indonesia’s Islamic capital market has experienced significant growth through the strengthening of Islamic stocks, sovereign sukuk, green sukuk, and the initial development of digitalized instruments. However, compared with global markets such as Malaysia, the United Kingdom, and GCC countries, Indonesia still faces limitations in product diversification, secondary market liquidity, and regulatory harmonization. Regulatory, institutional, technological, and sustainability factors are key determinants shaping the dynamics of Islamic investment instrument development. The study concludes that Indonesia has strategic potential to accelerate the growth of its Islamic capital market, but stronger policy integration, product innovation, and digital transformation are needed to improve global competitiveness.

Downloads

Download data is not yet available.

Article Details

How to Cite
Frida Eka Ristanti, Helmalia Oktaviana, Muhammad Aqim Adlan, & Dede Nurrohman. (2026). Instrumen Investasi Syariah di Pasar Modal: Komparasi Perkembangan Indonesia dan Dinamika Global . EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi, 5(5), 7570–7580. https://doi.org/10.56799/ekoma.v5i5.17487
Issue
Vol. 5 No. 5: Juli 2026
Section
Articles
Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

References

Aminin, Rista Izza, and Ismatul Khayati. 2025. “Analisis Peran Green Sukuk Dalam Pembiayaan Sektor Renewable Energy Di Indonesia Untuk Mendukung Pencapaian Net Zero Emission.” 5(02):105–24.

Argita, Wiwi Widia, Universitas Sultan, and Maulana Hasanudin. 2024. “Problematika Dan Perkembangan Pasar Modal Syariah Di Indonesia.” Islamic Economics and Business Review 3(3):621–30.

Atika, Ahmad Fu’ad Nasrullah, Muhammad Amir Shahmi, Irzan Ria Pratama, and Midhat Husin S. Akun. 2025. “Prospek Sukuk Sebagai Instrumen Keuangan Syariah: Studi Kritis Atas Posisi Indonesia Di Tingkat Global.” Jurnal Inovasi Hukum 6(3):118–32.

Atikah, Nila, and Sayudin. 2024. “ANALISIS PERKEMBANGAN PASAR MODAL SYARIAH: TANTANGAN DAN PELUANG DALAM INVESTASI BERBASIS PRINSIP SYARIAH.” Jurnal Inovasi Global 2(1):204–13. doi:10.58344/jig.v2i1.54.

Aulia, Dea Risti. 2025. “Penguatan Regulasi Dan Inovasi Dalam Pengembangan Pasar Modal Syariah.” Jurnal Multidisiplin Ilmu Akademik 2(3 Mei):377–86.

Azwar, Razi, Syahbudin Dalimunthe, Mhd Royhan, and Rangkuti Budi. 2025. “Manajemen Investasi Dan Pasar Modal Syariah Di Indonesia : Analisis Perkembangan , Tantangan , Dan Prospek ( 2018 – 2024 ).” 6468:446–56.

Basrowi, and Erika Anggraeni, eds. 2022. Manajemen Investasi Dan Pasar Modal Syariah. Yogyakarta: CV. Pustaka Diniyah.

Bayu, Abdullah Wisnu. 2025. “PERUBAHAN PASAR MODAL INDONESIA DI ERA MODERN DALAM PANDANGAN SYARIAH DI TAHUN 2023-2024 DALAM PANDANGAN SYARIAH DI TAHUN 2023-2024.” 3(11).

Board, Islamic Financial Services. 2022. “The IFSB Issues the Exposure Draft of the IFSB–AAOIFI Revised Sharīʻah Governance Framework for Institutions Offering Islamic Financial Services (ED-RSGF) for Public Consultation.”

Defa, Kikim Gumala. 2024. “Strategi Di Pasar Modal Syariah ( 2024 ) Strategy In The Islamic Capital Market ( 2024 ).” Jurnal Ekonomi Islam, Akuntansi Dan Manajemen 1(1):5–10.

Haspramudilla, Dara. 2025. “Perkembangan Ekonomi Syariah Di Indonesia: Menuju Pusat Ekonomi Syariah Global.”

Ihsan, Moh. 2025. “Efektivitas Green Sukuk Sebagai Instrumen Keuangan Syariah Dalam Mitigasi Perubahan Iklim.” Journal of Islamic Finance and Syariah Banking 3(1):10–25.

Ikit, Rizal Alfit Jaya, and Muhamad Rahman Bayumi. 2019. Bank Dan Investasi Syariah. edited by Artiyanto. Yogyakarta: Gava Media.

Keuangan, Otoritas Jasa. 2025. “P e r b a n k a n s Ya r i a H.”

Khasanah, Ardelia Nurul, Aziza, Rian Saputra, Santoso, Aulia Putri Anggraini, Aprilia Dwi Sari, and Sinta Ayu Purnama. 2025. “PERAN DIGITALISASI DALAM TRANSAKSI PLATFORM INVESTASI PADA PASAR MODAL SYARIAH.” Jurnal Manajemen Bisnis Syariah 2(Juni):124–35.

Manarfa, La Ode Muhammad Rauda Agus Udaya, Faisal Alimaturahim, Yuliana Mustamim, Ulfia, Gunawan, Ranno Marlay Rachman, Muhammad Sajidin, and Andy Kurniawan. 2024. Ketahanan Ekonomi Nasional Indonesia. Cetakan Pe. edited by A. S. Nurdin and W. Munaeni. Maluku Utara: PT. Kamiya Jaya Aquatic.

Mr.SyedFaiqNajeeb. 2023. “ISLAMIC FINANCIAL SERVICES INDUSTRY STABILITYREPORT 2023.”

Muhammad, Rifqi, and Peni Hugraheni. 2024. Pasar Modal Syariah Indonesia. Yogyakarta: Penerbit Deepublish.

Nazeer, Tasnim. 2021. Belajar Mudah Keuangan Syariah: Prinsip, Praktik, Dan Prospek Keuangan Islam. Jakarta Selatan: PT. Qaf Media Kreativa.

Niche, From. 2024. FINANCE DEVELOPMENT. TY - ELEC TI - Highlights of IFSB Report 2023 AU - Islamic Economics Project PY - 2023 DA - 2023/12/03 UR - https://islamiceconomicsproject.com/2023/12/03/ifsb-report-2023/ PB - Islamic Economics Project AB - Artikel ini membahas ringkasan laporan Islamic.

Oktaviani, Ria, Supriadi, and Kamaruddin. 2025. “PASAR MODAL SYARIAH DI INDONESIA : TINJAUAN PRINSIP, MEKANISME DAN TANTANGAN.” Ummu Qura: Jurnal Institut Pesantren Sunan Drajat (INSUD) Lamongan 09(02):218–26.

Project, Islamic Economics. 2023. “Highlights of IFSB Report 2023.”

Putri, Diva Carrisa, Firda Rizqi, Amalia As, and Alfado Chievo Javantara. 2023. “Perkembangan Pasar Modal Terhadap Pertumbuhan Ekonomi.” 7(2024).

Rusyda, Tsanya, Madura, Siti Mufliha, Madura, Wildan Setiawan, Madura, and Ari Dimas Afandi. 2024. “Mendorong Laju Pertumbuhan Perekonomian Indonesia Melalui Pasar Modal Syariah.” Jurnal Ekonomi Syariah Dan Hukum 7:214–22.

Sukmana, Wulan Juliani, and Universitas Lambung Mangkurat. 2021. “Metode Penelitian Sejarah.” 1(2):2–5.

Syazierah, Falsha, Jefik Zulfikar Hafiddz, Dzaki Natan Nugraha, Universitas Islam, Negeri Siber, and Syekh Nurjati. 2025. “Pasar Modal Syariah: Instrumen Dan Mekanismenya 1.” AL-HUKMI 6:73–88.

Wardana, Wisnu, Institut Agama, and Islam Negeri. 2024. “Potensi Perkembangan Pasar Modal Syariah Di Indonesia Sebagai Tujuan Investasi Generasi Muda.” 1(1). doi:10.35905/taswiq.v1i1.10711.