MUI Halal Shares, how come? Understand first for beginners

Talking about stocks may be taboo for some people because not everyone understands how to trade or invest in stocks. But what if we look at it from an Islamic point of view. So, in this article, we discuss a little about MUI Halal Stocks.

MUI as the body that protects Muslims from things that are haram has explained several things related to the halal and haram of a share if we look at the form and method.

The point is if we muamalah in Islam it is mutual benefit in a good way instead of cheating. Maybe that is the essence of how we muamalah or interact with fellow creatures. The same applies to how we do this stock transaction.

Well here you will see what are the reasons that allow you in terms of stock trading and what it is better for you to avoid so as not to violate Islamic law.

MUI Halal Stocks

There are things that make the stock halal, this is more because in trading the stock itself, we are actually providing assistance to our brothers and sisters who are in need of help.

If you look at it, it can be said that trading shares is halal MUI. If anyone asks why? So the answer is very easy, because we help our brothers who are in trouble

But don’t forget that in this transaction, both parties benefit. On the share buyer side will benefit from the shares purchased in stages, and the company owner will also benefit because they have received an injection of fresh funds.

So that the owner can develop his business towards a better future. Oh yes, beginners need to pay attention when trading or investing in stocks. So when you are going to buy or invest in a company, you need to first check whether the business or company really exists or is just fictitious.

The next halal stock trading method is that you have to pay attention to what goods or services are the commodities. If that’s a bad thing then it’s better for you to move to find another company. So in addition to making a profit, you also need to see if the commodity or service material is halal or haram.

Finally, you have to make sure the contract or agreement is clear so that there is no fuss or unclear delegation of responsibilities. So from this it will make you lose.

MUI Haram Shares

A share will be said to be haram if it is related to gambling, the existence of usury or interest, there is an element of uncertainty in the sale and purchase contract and finally the commodity or service is in the form of haram.

Therefore you need to pay attention both in terms of the type of stock, the contract, the company and what commodities or services they provide. A little fussy is okay as long as it is one way for you to get blessings in muamalah and of course the results from the stock bring blessings.

List of MUI Halal Shares

Here is some company info with the title “MUI Halal Shares” that might be able to attract the hearts of those of you who want to invest in a halal way.

XL Axiata Tbk (EXCL)

Telkom Indonesia (Persero) Tbk (TLKM)

Perusahaan Gas Negara Tbk (PGAS)

Adaro Energy Tbk (ADRO)

Aneka Tambang Tbk (ANTM)

Charoen Pokphand Indonesia Tbk (CPIN)

Pabrik Kertas Tjiwi Kimia Tbk (TKIM)

Unilever Indonesia Tbk (UNVR)

Indofood CBP Sukses Makmur Tbk (ICBP)

Japfa Comfeed Indonesia Tbk (JPFA)

Kalbe Farma Tbk (KLBF)

Wijaya Karya (Persero) Tbk (WIKA)

Semen Indonesia (Persero) Tbk (SMGR)

United Tractors Tbk (UNTR)


Of the many existing companies, some are incorporated in Islamic stocks. Sharia shares, as reported by the official website of the Indonesia Stock Exchange, are securities in the form of shares that do not conflict with sharia principles in the Capital Market.

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The definition of shares in the context of sharia shares refers to the definition of shares in general which are regulated in laws and other OJK regulations.

There are two types of sharia shares recognized in the Indonesian capital market, namely:

Shares that are declared to meet the selection criteria for sharia shares based on OJK regulations no. 35/POJK.04/2017 concerning Criteria and Issuance of Sharia Securities List
Shares listed as sharia shares by issuers or sharia public companies based on OJK regulations no. 17/POJK.04/2015

Sharia Stock Criteria

Sharia shares contained in the sharia capital market, whether listed on the IDX or not, are included in the Sharia Securities List (DES) from the OJK which is issued periodically every May and November. Most recently, the selection criteria for sharia shares refers to the OJK rules as follows:

The Issuer does not carry out the following business activities:

1. Gambling and games classified as gambling;

2. Trade that is prohibited according to sharia, among others:

Trade that is not accompanied by the delivery of goods/services;
Trading with fake offer/ask;
3. Usury financial services, including:

Interest-based bank;
Interest-based finance company;
4. Buying and selling risks that contain elements of uncertainty (gharar) and/or gambling (maisir), including conventional insurance;

5. Producing, distributing, trading, and/or providing, among others:

The substance of goods or services is haram (haram li-dzatihi);
Haram goods or services are not because of their substance (haram lighairih) as determined by the MUI DSN;
Goods or services that damage morals and/or are harmful;
6. Conduct transactions that contain elements of bribery (risywah); and

The Issuer complies with the following financial ratios:

1. Total interest-based debt compared to total assets of not more than 45%; or

2. Total interest income and other non-halal income compared to total revenue and other income is not more than 10%.

10 Best Sharia Stocks

Among the many Islamic stock issuers that are listed on the stock exchange in Indonesia, there are 10 best Islamic stocks for investment. It should be noted that this list is not a list of recommendations for buying or selling sharia shares, but rather a list of sharia shares that you can choose from. Some of them are:

PT Erajaya Swasembada Tbk. (ERAA)
PT Aneka Tambang Tbk. (ANTM)
Bank Syariah Indonesia Tbk., (BRIS) Tbk. (OPEN)
PT Kalbe Farma Tbk. (KLBF)
PT Vale Indonesia Tbk. (INCO)
PT XL Axiata Tbk. (EXCL)
PT Japfa Comfeed Indonesia Tbk. (JPFA)
PT Telkom Indonesia (Persero) Tbk. (TLKM)
PT Charoen Pokphand Indonesia Tbk. (CPIN)