The definition of the capital market by Letter of Law  Number 8 of 1995 concerning The Capital Market (UUPM ) is an activity related to Public Offering and  Trading Securities,  Public Companies relating to the issued Securities, as well as institutions and professions related to Securities. By this definition, the terminology of The Islamic Capital Market can be interpreted as an activity in the Capital Market as regulated in UUPM does not contrary with Islamic principles (OJK, 2017). In general, the activities of the Islamic Capital Market (PMS) are not different from the Conventional Capital Market, however, there are several specific characteristics of PMS, the products and transaction mechanisms do not contrary with Islamic Principles. Islamic Capital Market activities are Capital participation activities or securities buying and selling which are included in the muamalah group, therefore transactions in The Islamic Capital Market are allowed as long as there are no prohibitions according to Islamic and the activities are halal. Meanwhile, muamalah activities that are said to be haram are manipulation and speculation activities which contain maysir, gharar, and riba (Selasi, 2018). Based on data from The Indonesia Stock Exchange (IDX), 81,413 Islamic stock investors by October 2020, only 2.1% of Indonesia’s total investors reached 3,871,248. A low percentage of contributions in PMS is due to a negative perception that investment in PMS is illegal because of uncertainty (Selasi, 2018). This negative perception arises from a lack of public literacy and understanding of the PMS system, where more than 90% of people still do not know deeply about PMS investments and thus have an impact on the low use of PMS instruments (mubarok, 2018). In this regard, education about investment and strategies for developing PMS in Indonesia is needed.

1. Provide understanding of Capital Market in a Islamic perspective
2. Provide knowledges and insight about the role of regulator in the developmentr The Islamic Capital Market
3. Provide knowledges and insight about the role of IDX to accelerate The Islamic Capital Market