This article provides a framework for applying the principles of Islamic legal methodology to determine the optimal Shariah screening standards for Islamic equity markets. It is argued that using maslahah mursalah (unrestricted benefit) is an appropriate method for identifying appropriate financial standards and its principles stipulate that the benchmark that yields the best economic returns to investors should be chosen. The methodological framework is applied to the Indonesia equity market where the economic implications of the Islamic stock screening standards of the Indonesian Islamic Shariah Stock Index and four global indices are assessed. Portfolios are constructed by applying Islamic stock screening standards for each of the indices by using data on 377 stocks listed in the Indonesian stock market for 5 years. The performances measured by the Sharpe ratio, Treynor index, and Jensen alpha reveal that the Dow Jones Islamic Index screening criteria performs the best. Based on the method of maslahah mursalah, the article recommends using the screening standard of this index in the Indonesian stock market to maximize benefits to investors. While the approach used in this article is applied to Islamic equity markets, the methodological framework can also be used for other similar cases in Islamic finance.

This study aims to determine the effect of Islamic capital market literacy, financial behavior, and income on the interest in investing in the Islamic capital market among generation Z. The research type and method used is quantitative research. The data used is primary data collected using an online questionnaire containing questions related to the variables, spread among Gunadarma University students as respondents. This study uses multiple linear regression analysis with a non-probability sampling technique assisted by statistical tools SPSS version 25. The results of this study indicate that partially Islamic capital market literacy variables (X1) and financial behavior (X2) have a significant effect on interest in investing in Islamic capital market. However, income (X3) has no partial effect on interest in investing. Meanwhile, simultaneously, the variables of Islamic capital market literacy, financial behavior, and income have an influence on interest in investing in the Islamic capital market. The results of this study emphasize the importance of increasing financial literacy to increase the involvement of Generation Z in the Islamic financial system, by intensifying socialization and education programs, in this case on the Islamic capital market.

Purpose -COVID-19 typically affects economic activity and growth, including the movement of global Islamic stock indices. This experimental study intends to analyse and map the global Islamic equity markets competition and identify which countries had the best performance while facing the turbulence of COVID-19.Methodology -This research was conducted by simulating the formation of a global Islamic stock portfolio and ranking based on weighting of investment allocations in each country. The data used were monthly data during the first year of the COVID-19 crisis period from 12 countries that provide an Islamic stock index and are constituents of Dow Jones Global Islamic Indices and/or FTSE Shariah. The Single Index Model was employed as the method in the formation of the global portfolio in this research.Findings -Our analysis revealed that four countries that deserve the biggest weights, namely China, Japan, Turkey, and Malaysia, were the countries with the best relative performance compared to their risk and the most defensive countries to the global systematic market risk and turbulence during the first year of the COVID-19 crisis period. On the other hand, three countries were eliminated as their Excess Return to Beta were lower than the Cut-Off Point, these countries were the United Kingdom, United Arab Emirates, and Canada, which means that the returns of these countries were not worth the risks.Originality -While some studies have analysed the behaviour of Islamic stock markets during the COVID-19 crisis, none of them tried to map the global Islamic stock market that reflects the competitiveness of the constituent countries and the competition amongst them.Practical implication -This research argues that if Islamic multinational investors allocate their funds while facing the COVID-19 turbulence by considering the global map generated from this study, the investors will have a global Islamic investment portfolio with an optimal return which is higher than the market return and minimal risk which is lower than the market risk.

This study aims to determine the effect of Islamic capital market literacy, financial behavior, and income on the interest in investing in the Islamic capital market among generation Z. The research type and method used is quantitative research. The data used is primary data collected using an online questionnaire containing questions related to the variables, spread among Gunadarma University students as respondents. This study uses multiple linear regression analysis with a non-probability sampling technique assisted by statistical tools SPSS version 25. The results of this study indicate that partially Islamic capital market literacy variables (X1) and financial behavior (X2) have a significant effect on interest in investing in Islamic capital market. However, income (X3) has no partial effect on interest in investing. Meanwhile, simultaneously, the variables of Islamic capital market literacy, financial behavior, and income have an influence on interest in investing in the Islamic capital market. The results of this study emphasize the importance of increasing financial literacy to increase the involvement of Generation Z in the Islamic financial system, by intensifying socialization and education programs, in this case on the Islamic capital market. Keywords: Islamic Capital Market Literacy; Financial Behavior; Income; Interest to Invest; Gen Z

This study aims to determine the effect of Islamic capital market literacy, financial behavior, and income on the interest in investing in the Islamic capital market among generation Z. The research type and method used is quantitative research. The data used is primary data collected using an online questionnaire containing questions related to the variables, spread among Gunadarma University students as respondents. This study uses multiple linear regression analysis with a non-probability sampling technique assisted by statistical tools SPSS version 25. The results of this study indicate that partially Islamic capital market literacy variables (X1) and financial behavior (X2) have a significant effect on interest in investing in Islamic capital market. However, income (X3) has no partial effect on interest in investing. Meanwhile, simultaneously, the variables of Islamic capital market literacy, financial behavior, and income have an influence on interest in investing in the Islamic capital market. The results of this study emphasize the importance of increasing financial literacy to increase the involvement of Generation Z in the Islamic financial system, by intensifying socialization and education programs, in this case on the Islamic capital market.