Abstract
Islamic wealth management has been aimed at choosing investment instruments so that their portfolios get maximum returns. The process of wealth management emphasizes wealth accumulation without linking it with Maqashid al-Sharia, such as how to safeguard assets (hifz al-mal), protecting assets oriented to offspring (hifz al-nasl) and so on. The orientation is on welfare in the world without involving elements of blessing and the pleasure of Allah SWT. This study uses a qualitative method through the postmodernism approach. First, the reconstruction of the model is associated with relevant values in Maqashid al-Sharia. Second, the researcher makes observations on the actions and thoughts of investors in interpreting investment and managing investment returns by sharia in the capital market. Third, applying the Islamic Wealth Management model based on Maqashid al-Sharia according to the results of the study. The output of this study is a model of asset management based on Maqashid al-Sharia as a grand theory in sharia stock investments in the capital market, to achieve the ultimate goal of prosperity in the world and the hereafter and provide positive benefits for all parties.
Highlights
Islamic wealth management is a stimulating subject that has been discussed by scholars
The fundamental difference is that this study seeks to develop and find a management model of property management that is in accordance with Islamic teachings on Islamic stock investment in Indonesian capital market
This research aimed at finding a property management model that is in accordance with Islamic teachings in Islamic stock transaction activities in the capital market
Summary
Islamic wealth management is a stimulating subject that has been discussed by scholars. Islamic wealth management practices are based on Islamic values contained in Maqaṣid al-Shariah as a grand theory in order to achieve the ultimate goal of welfare in the world and in the hereafter (falah) and provide positive benefits (maṣlahah) for all parties and prevent negative destructive impacts (mafsadah) (Chapra & Bank, 2008). Based on these circumstances, the authors attempted to reconstruct the model through the deconstruction of existing Islamic wealth managementmodels, research on investor actions and thoughts in interpreting Islamic stock investments, management of Islamic stock investment results and aspects of Islamic investment activities by investors at present day. The deconstruction in this study is an attempt to evaluate and develop the Islamic wealth managementmodel that was once written by the previous researchers
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