IslamicFinance.de

Sharia-compliant investments have flourished in recent years, which could help strengthen the domestic market’s resistance to global influences. Data from the Indonesia Stock Exchange (IDX) shows that the number of sharia-compliant investors in March grew 18%, or by 4,245 investors year-to-date (ytd), with transactions totaling Rp 476 billion.

In order to try to raise liquidity and widen the investor base amid a growing interest in equities in the world’s biggest Muslim-majority country, Indonesia Stock Exchange (IDX) opened a new equities index.
Indonesia Stock Exchange (IDX) gives investors permission to buy stocks without violating Islamic investment guidelines which have been screened by the Indonesia Ulema Council (MUI).

Indonesia’s first sharia-compliant equities index was finally set in motion by Indonesia Stock Exchange (IDX). IDX president director Ito Warsito and MUI deputy chairman Ma'ruf Amin were the officials that took part.
The ISSI comprises 214 Indonesian stocks that account for 43.6 percent of the bourse's overall market capitalization.