REPUBLIKA.CO.ID, JAKARTA — Indonesia Stock Exchange (IDX) is developing more sharia stock market index. This move will be launched in collaboration with Sharia Economic Society (MES).

Director of Business Development of IDX, Hasan Fawzi, said this index would include 17 sharia stocks from state-owned enterprises. “This 17 IDX MES sharia stock market index will be launched on April 29, 2021 during Ramadhan,” Fawzi said on Wednesday (7/4).

This index is an addition to the current three sharia stock market index, which are Islamic Stock Index (ISSI), Jakarta Islamic Index (JII), and JII30. Fawzi expects the new index will be welcomed by every stake holders and investors.

The index can be a fundamental for sharia mutual funds as well as new ETF so that there will be more products from sharia stock market. This index can also become a reference for investor before doing transaction.

The stocks in IDX MES BUMN 17 are carefully selected from their performance, fairness transaction, to their fundamental performance. He added, IDX commits to enrich sharia stock market both from infrastructure and service. One of them is by adding more thematic sharia stock market index.

“Next, we will add more thematic index. We are still developing a sharia stock market index using the theme Environmental, Social, and Corporate Governance (ESG)," he said.

The theme is completing IDX ESG Leaders Index containing 30 stocks with best ESG. Fawzi said, IDX also plan to launch IDX ESG Sharia Leaders.

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