IMPLIKASI HUKUM PENGGUNAAN SAHAM SEBAGAI BENTUK MAHAR PERNIKAHAN DI ERA MODERN

Abstract

Advancements in technology and modern economic instruments have influenced muamalah (transactional) practices within Islamic family law specifically regarding the use of shares as a marriage dowry (*mahar*). Classical fiqh literature does not specifically address the use of shares as dowry, as shares are modern economic instruments characterized by fluctuating values. This situation creates a need for contemporary Islamic legal analysis, particularly concerning their validity and legal implications. In principle, shares may serve as a dowry (*mahr*) because they are regarded as assets (māl) possessing economic value and utility, and their ownership is transferable. This permissibility is analyzed using the method of qiyas (analogical reasoning) and supported by the jurisprudential maxim: Whatever is valid as a price is valid as a dowry. However, the shares used must originate from a company engaged in halal business activities (sharia compliant shares), be clearly quantified, and be free from elements of uncertainty (gharar). From a legal standpoint, ownership of the shares including the rights to their economic benefits transfers entirely to the wife upon the conclusion of the marriage contract. While fluctuations in share value following the contract do not affect the validity of the marriage, clear administrative documentation remains necessary to ensure legal certainty for the wife.