Optimalisasi Ekosistem: Strategi Cerdas UEA Mendulang Keuntungan dari Hedge Fund Besar tanpa Mengorbankan Prinsip Syariah

Abstract

This study examines how the United Arab Emirates (UAE) capitalizes on global hedge funds while addressing Sharia concerns related to short-selling, gharar, and riba. Using a qualitative literature review of academic studies, regulatory documents, and industry reports, the study identifies five non-oil economic mechanisms underlying the UAE’s strategy: revenue generation through real economic activities such as leasing, licensing, and consumption; Emiratization to facilitate knowledge transfer and local workforce absorption; global asset control through sovereign wealth funds; economic stability as a safe haven during crises; and technology transfer enabled by innovative regulations in digital assets and financial artificial intelligence. Rather than establishing Sharia-compliant hedge funds, which have historically experienced limited success, the UAE prioritizes ecosystem optimization through Sharia authorities, Islamic structured products based on wa’ad and murabahah, fintech integration, and a liquid sukuk market. The strategy aligns with maqashid al-Sharia through risk-sharing mechanisms, social responsibility, and fintech-based risk management. The study contributes a five-mechanism framework to Islamic finance literature and provides a potential model for Muslim countries seeking global investment without relying on dedicated Sharia-compliant hedge funds.