Main Article Content
Abstract
Islamic stocks is one of the instruments in islamic capital market which is
operated based on islamic principles. Islamic stocks are the securities proof of
equity participations in the company and with the evidence of these investments,
the shareholders are entitled to receive part of the profits. Operational
mechanisms of islamic stocks is differently in each country. There are some
problems of the mechanisms on screening process. Assessment criteria of islamic
stocks broadly divided into qualitative and quantitative criteria. Qualitative
criteria are based on halal and haram, while quantitative criteria are based on
the financial performance of the company. There is a differences of shari’a
criteria in each country, specially at JII, DJIM, and KLSI. The differences will
impact to growth and development of islamic stocks in each country.