Analisis Prinsip Syariah dalam Pengawasan Emiten Saham Syariah di Indonesia: Studi Kasus Investasi Bodong

Abstract

This study investigates the use of sharia principlesin the supervision of sharia stock issuers in Indonesia 
and its relationshipwith the emergence of foolish investment practices that use the sharia label as 
alegitimacy tool. OJK regulations, DSN-MUI fatwas, and literature studies were usedas qualitative 
methods. The results show that although the Islamic capital market supervision system in Indonesia has 
a strong legal andinstitutional framework, its implementation still faces major problems such 
asinsufficient supervision by the Sharia Supervisory Board (DPS), a lack of public knowledgeabout 
finance, and the misuse of religious symbols to attractinvestors. The OJK, DSN-MUI, IDX, and 
academic institutions must work together to improve sharia governance through supervisory technology 
(RegTech),financial report transparency, and increased sharia literacy. Therefore, the principle of 
maqaṣid al-syariah can be applied in the capital market through afair, transparent, and integrity-based 
supervisory system. This willmaintain public trust and prevent investment irregularities in the era of 
thedigital economy.