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The privatization program of BUMN in Indonesia rises new polemic among stakeholders. This leads to the uncertainty of realizing such critical program. In line with this privatization discourse, Islam has a particular discussion on assets ownership which should be utilised according to its status. This paper seeks to critically analyze the policy of BUMN privatization in Indonesia with reference to the concept of ownership in Islamic Perspective both fiqh and hadits approaches. The authors employ descriptive qualitative to discuss the privatization program of BUMN with the concept of asset ownership from Islamic perspective particularly for companies which being listed in such program. In addition, the authors also use content analysis approach to look deeply into some fiqh books as well as some hadits that relevance to the topic of this paper. The authors conclude that BUMN category which couldn’t be privatisized are BUMN that deal with the basic needs of humanbeing, BUMN which manage resources that couldn’t be possessed either by individu or group, and BUMN which manage mine materials with unlimited deposit.

JEL Clasification: A13, G38, L33

Keywords: Privatisasi, BUMN dan Kepemilikan Islam.

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