Stock Investment According to Classic and Contemporary Ulama Views: Comparative Law Studies

Abstract

There is an increase in stock problems in the contemporary era. Various economic issues no longer have conventional nuances but are integrated with the digital world. Numerous applications and website portals have been created that promise attractive profits when investing and selling shares on their forums. Investing in stocks became a lucrative business with little effort put into its application. The highest power is vested in the largest shareholder, not in workers who have direct contact with the business it self. Problems arise when discussing the legal validity of the event. This is due to the presence of trade monopoly indications and capitalist elements. Furthermore, the concrete stock issues never discussed by classical ulemas are likely to differ from those discussed by current ulemas living in modern or postmodern society. Therefore, it is considered far more relevant to view contemporary economic problems such as stocks in light of contemporary ulema's views. This article examines the views of famous classical ulemas of their time, as well as contemporary ulemas, regarding stocks in general. This study uses a comparative analysis with a normative review of Islamic law and positive law in Indonesia.