Inovasi Baru di Pasar Reksadana Syariah Indonesia

Abstract

The Islamic mutual fund market in Indonesia has experienced significant acceleration as public 
awareness of investments based on halal principles and oriented towards sustainability has increased. 
This study aims to identify various forms of innovation emerging in the Islamic mutual fund market and 
analyze their impact on financial inclusion, public literacy, and national Islamic economic growth by 
using a descriptive qualitative approach through a literature review of scientific sources and secondary 
data from the 2020–2025 period. The analysis results indicate that product innovations such as Sharia 
Sustainable Funds, Sharia Exchange Traded Funds (ETFs), and Environmental, Social, and Governance 
(ESG)-based mutual funds have contributed to the transformation of the Islamic financial industry 
towards a more inclusive and digital direction. Digitalization plays a key role as a main catalyst through 
the presence of app-based investment platforms such as seed Sharia and Bareksa, and Plant a money 
Sharia expand public access to halal investment instruments. Additionally, regulatory support from the 
Financial Services Authority (OJK) and the fatwa issued by the National Sharia Council of the 
Indonesian Ulema Council (DSN-MUI) strengthen legitimacy, transparency, and public trust in the 
sharia capital market, while sharia financial literacy programs further promote increased participation 
among young investors. Overall, this study emphasizes that innovations in the sharia mutual fund market 
have multidimensional impacts, encompassing economic, social, and environmental aspects, and 
possess strategic potential to serve as a key foundation for sustainable Islamic economic development 
in Indonesia through the synergy of the government, financial institutions, and advancements in digital 
technology.