Jakarta, 7 Rabiul Awwal 1434/19 January 2013 (MINA) – A sharia capital market in Indonesia grows rapidly along with the increase of investors joining the Indonesian Stock Exchange (IDX), Gunawan Yasni, a member of National Islamic Council of Indonesian Cleric Council (MUI) told Miraj News Agency (MINA)’s reporter Thursday (17/1).
The sharia capital market investors are growing more rapidly in the end of 2012 compared with 2011 and the sharia capital market in 2012 grew up to 55% compared with last year, while Islamic banking was just 33 % and insurance 22%.
The growth of sharia banking and sharia capital market are greater than conventional banking. In the end of 2012 it reached to 4.4% of the total growth of 12%.
“The Capital Market Supervisory Agency and Financial Institutions (BAPEPAM-LK) cooperates with MUI in releasing the Sharia Securities Form in every six months from May to November with the approval from MUI”, said Gunawan.
BAPEPAM-LK which is a capital market and financial institution authorities categorize the the stocks based on sharia principles which are now being traded in the Indonesian capital market reach 60% based on the fatwa of MUI number 20,40, and 80.
Meanwhile, people or companies who want to sell and buy shares should have a provider with a sharia online trading system. Five companies which organizing sharia online trading system are Indo premier skuritis, E-trading skuritis, BNI Skuritis, Panin Skuritis and Mandiri Skuritis.
In 2012 the number of investor who use sharia on-line trading system increased rapidly. It was proved by 40,000 trading accounts.
Yasni who is also a senior lecturer of Islamic financial economics in Indonesia University added that there are some constraints in capital market system among others are the constraints of education and the access to the online stocks market trading system which are not the same in all banks. Recently they have only five branches. “Companies which are far away find it difficult to access online trading,” he said.
To address these constrains, the National Sharia Council Indonesia (DSNI) cooperated with IDX to open an Islamic school of sharia capital markets in Semarang, Bali, Medan, and Makassar since 2010 cooperate with branches in its regions so that people could easily get the information and access.
The man who got a Certificate of Islamic Financial Analysts from one of the University of Post Graduate Middle East studies expects that BAPEPAM could develop the sharia capital market (T/R-025/R-006).
Miraj News Agency (MINA)