OJK Plan to Establish Sharia Stock Exchange

Fathan Qorib, Andin Aditya Rahman

The Financial Services Authority (OJK) is currently studying the establishment of a stock exchange specifically for sharia products.

 “There will be a special sharia stock exchange. So far there has only been a sharia index,” said Robinson Simbolon, OJK Deputy Commissioner for Capital Markets, in Jakarta on, Thursday.

Robinson stated that the current approach in the sharia capital market only focuses on products, and the formation of a sharia stock exchange institution has never been considered.

He explained that the OJK has plans to cooperate with the National Sharia Board (Dewan Syariah Nasional – DSN), and the Indonesia Ulema Council (Majelis Ulama Indonesia – MUI) on this matter.

DSN and MUI will determine which new stock market products belong to the sharia category. After DSN and MUI determine the sharia products, OJK will then provide the necessary broader framework in a regulation.

“In the future we hope there will be a sharia stock company. This will be the same as a sharia bank, both in its legal form and company organization, including a Sharia Supervisory Board. Therefore, there will be, say, a sharia investment management company,” Robinson concluded.

(hot/kc)

Fathan Qorib, Andin Aditya Rahman

The Financial Services Authority (OJK) is currently studying the establishment of a stock exchange specifically for sharia products.

 “There will be a special sharia stock exchange. So far there has only been a sharia index,” said Robinson Simbolon, OJK Deputy Commissioner for Capital Markets, in Jakarta on, Thursday.

Robinson stated that the current approach in the sharia capital market only focuses on products, and the formation of a sharia stock exchange institution has never been considered.

He explained that the OJK has plans to cooperate with the National Sharia Board (Dewan Syariah Nasional – DSN), and the Indonesia Ulema Council (Majelis Ulama Indonesia – MUI) on this matter.

DSN and MUI will determine which new stock market products belong to the sharia category. After DSN and MUI determine the sharia products, OJK will then provide the necessary broader framework in a regulation.

“In the future we hope there will be a sharia stock company. This will be the same as a sharia bank, both in its legal form and company organization, including a Sharia Supervisory Board. Therefore, there will be, say, a sharia investment management company,” Robinson concluded.

(hot/kc)

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