Konsep ḥifẓ al-māl dalam pelaburan Bitcoin menurut perspektif ulama maqasid syariah

The concept of ḥifẓ al-māl in Bitcoin investment from the perspective of maqāṣid al-sharī‘ah scholars

Authors

  • Abdulbari Kaje Yamkee Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA. https://orcid.org/0009-0003-3967-5726
  • Mohd Hafiz Jamaludin Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA
  • Hanira Hanafi Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA
  • Moch. Bukhori Muslim Program Studi Hukum Ekonomi Syari’ah (Muamalat), Fakultas Syariah dan Hukum, UIN Syarif Hidayatullah Jakarta, Jalan Ir. H. Juanda No.95, Ciputat, Tangerang Selatan, 15412 Banten, INDONESIA

DOI:

https://doi.org/10.53840/alirsyad.v10i1.497

Keywords:

Bitcoin, Investment, Maqāṣid al-Sharī‘ah, Ḥifẓ al-Māl

Abstract

Bitcoin is the world’s first cryptocurrency, created by Satoshi Nakamoto in 2008. Initially designed as a currency, Bitcoin has increasingly been used as a speculative investment instrument in recent years. The growing popularity of Bitcoin investment among investors has raised questions about its compatibility with the principles of maqasid syariah in general and the concept of ḥifẓ al-māl in particular. This study aims to analyze the concept of ḥifẓ al-māl from the perspective of maqasid syariah in relation to Bitcoin investment. Ḥifẓ al-māl is one of the five essential objectives of maqasid syariah, emphasizing financial security, asset protection, avoidance of excessive risk, fraud and other non-compliant elements. This study adopts a qualitative approach through a literature review to assess the suitability of Bitcoin investment within the framework of ḥifẓ al-māl and maqasid syariah. Data was collected from primary and secondary sources. The data were than analyzed based on the established themes. The findings indicate that Bitcoin investment carries both high profit potential and significant risk. Furthermore, ensuring that Bitcoin investment fully aligns with maqasid syariah, particularly in the context of ḥifẓ al-māl, present considerable challenges due to elements that may lead to both benefit and harm.

Contribution: This study makes a significant contribution in legal, economics and social aspects. From a legal perspective, it proposes a comprehensive guideline for Bitcoin investment. Economically, it enhances understanding of Bitcoin’s potential as an alternative investment within the framework of ḥifẓ al-māl. Socially, it promotes awareness of syariah-compliant financial management within community.

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Author Biographies

Abdulbari Kaje Yamkee, Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA.

Abdulbari Kaje bin Yamkee holds a Bachelor’s degree in Shariah Islamiyah from Al-Azhar University, Egypt, with a score of 75.21 (Taqqir: Jayyid), and a Master’s degree in Social Science (Islamic Development Management) from Universiti Sains Malaysia (ISDEV). He is currently a Ph.D. candidate at the Department of Shariah and Law, Academy of Islamic Studies, University of Malaya. His academic interests lie in Islamic law, development studies, and contemporary Shariah issues.

Mohd Hafiz Jamaludin, Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA

Dr. Mohd Hafiz Jamaludin is a senior lecturer at the Department of Shariah and Law, Academy of Islamic Studies, University of Malaya. He holds a Bachelor’s degree in Shariah Islamiah from Al-Azhar University (2007), a Master’s degree (2011), and a PhD (2016) in Shariah Law from the University of Malaya. He has attended Islamic Studies courses in Saudi Arabia and participated in a student exchange program in Turkey. His research interests focus on fatwa and Islamic finance, and he has published widely in local and international journals.

Hanira Hanafi, Jabatan Syariah dan Undang-Undang, Akademi Pengajian Islam, Universiti Malaya, 50603 Kuala Lumpur, MALAYSIA

Dr. Hanira Hanafi is a senior lecturer at the same department. She obtained her PhD in Islamic Finance from Durham University, UK (2012), and holds a Master of Comparative Law (2003) and Bachelor of Laws (2002) from the International Islamic University Malaysia. She is also a qualified Advocate and Solicitor of the High Court of Malaya. Her research covers Islamic finance, law, digital economy, and disability policy. She has served as Deputy Director of the Ungku Aziz Centre for Development Studies (2017–2019).

Moch. Bukhori Muslim, Program Studi Hukum Ekonomi Syari’ah (Muamalat), Fakultas Syariah dan Hukum, UIN Syarif Hidayatullah Jakarta, Jalan Ir. H. Juanda No.95, Ciputat, Tangerang Selatan, 15412 Banten, INDONESIA

Dr. Moch. Bukhori Muslim is a lecturer at the Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta. He earned his undergraduate degrees from STAI Az-Ziyadah and LIPIA Jakarta, and completed his Master’s and PhD at UIN Syarif Hidayatullah Jakarta. He serves as Head of the Shariah Industry, Business and Economics Division at DSN-MUI (2021–2025) and Director of Islamic Economics at LSP MUI (2020–2025).

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The Concept of Ḥifẓ al-Māl in Bitcoin Investment from the Perspective of Maqāṣid al-Sharī‘ah Scholars

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2025-06-11

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Yamkee, A. K., Jamaludin, M. H., Hanafi, H., & Muslim, M. B. (2025). Konsep ḥifẓ al-māl dalam pelaburan Bitcoin menurut perspektif ulama maqasid syariah: The concept of ḥifẓ al-māl in Bitcoin investment from the perspective of maqāṣid al-sharī‘ah scholars. Al-Irsyad: Journal of Islamic and Contemporary Issues, 10(1), 1422–1444. https://doi.org/10.53840/alirsyad.v10i1.497

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Vol. 10 No. 1 (2025): al-Irsyad: Journal of Islamic and Contemporary Issues

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Malay

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Copyright (c) 2025 Abdulbari Kaje Yamkee, Mohd Hafiz Jamaludin, Hanira Hanafi, & Moch. Bukhori Muslim

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