BEI Wins Global Islamic Finance Award

By : Herry Barus And Aldo Bella Putra | Sunday, September 10 2017 - 22:00 IWST

Bursa Efek Indonesia (Foto Rizki Meirino)
Bursa Efek Indonesia (Foto Rizki Meirino) - Jakarta - Indonesia Stock Exchange again won "The Best Supporting Institution for Islamic Finance of the Year 2017" award from Global Islamic Finance Award.

Head of Communication Division of BEI Yulianto Aji Sadono in an official statement in Jakarta, Sunday (9/10/2017) suggests that BEI is the only institution from Indonesia who received the award from GIFA for two consecutive years.

"This award is a benchmark for Indonesia to show that the Indonesian Sharia Capital Market has been able to compete at the international level," he said.

The award was handed over directly by Edbiz Consulting CEO Sofiza and received directly by IDX President Director Tito Sulistio in China on Saturday (9/9).

The award, she added, is inseparable from the role of BEI which consistently encourages Indonesia's sharia capital market industry to continue to advance and develop with world-level credibility, in accordance with the vision and mission of the company.

She said that GIFA is one of the international awards in the world's sharia financial industry organized by EdBiz Consulting, headquartered in London. GIFA 2017 is the seventh throughout the award.

Yulianto Aji Sadono explained that since its establishment in 1997, Syariah Capital Market Indonesia currently has two syariah indices namely Sharia Islamic Index (ISSI) and Jakarta Islamic Index (JII), 342 sharia shares, 16 fatwa from National Sharia Council Majelis Ulama Indonesia (DSN-MUI), nine Regulations of the Financial Services Authority (OJK), and one State Sukuk (SBSN) Law.

In addition, he continued, Syariah Capital Market Indonesia also has 12 Exchange Members who have syariah online trading system (Syariah Online Trading System / SOTS), and four types of Sharia Securities (Sharia Shares, Sukuk, Syariah Mutual Funds, Exchange Traded Fund Syariah ).

By trade percentage, he also said that stock transactions in BEI dominated by sharia-based stocks. As much as 62 percent of the total shares traded on the IDX are sharia-based stocks, or about 55 percent of the market capitalization on the Stock Exchange.

In terms of volume, value, and frequency of transactions, he added, sharia-based stocks in the last five years (2011- August 2016) are much higher when compared with non-syariah stocks.

"The average sharia transaction volume growth is 167.2 percent compared to 130 percent non-sharia," he said.

He said BEI expects the sharia capital market industry to be a safe investment alternative especially for Indonesian people who want to invest in accordance with syariah principles and principles, and can contribute real and optimal in the growth and development of a sustainable national economy.

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