The Objective of Monetary Stability: Its Impact on the Contemporary Islamic Capital Market and the Requirements for Its Consolidation

Mohammed     Larbi Chaichi

doi:10.34118/jskp.v5i02.4440

Mohammed Larbi Chaichi https://orcid.org/0009-0009-0125-6597

DOI: https://doi.org/10.34118/jskp.v5i02.4440

Keywords: objective, monetary stability, Islamic capital market, wealth preservation, Islamic law

Abstract

This research explores the concept of "the objective of monetary stability," providing Islamic legal evidence supporting it and demonstrating that this objective is central to the success and development of the contemporary Islamic capital market. The study also identifies the goals of embedding this objective in the contemporary Islamic capital market, highlighting its importance and proposing the necessary requirements and means to achieve it. The researcher concludes that the objectives and purposes of achieving monetary stability in the contemporary Islamic capital market include: stabilizing financial transactions, reducing disputes and conflicts, building trust among members of society, and eliminating usury (riba) and transactions that contradict Islamic law. The importance of realizing this objective lies in the success of Islamic finance, economic development, reduction of dependency, and eradication of financial crises. The requirements for achieving this goal are categorized into organizational and legal requirements, behavioral and media-related requirements, as well as educational and value-based requirements

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