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IDX Again Wins Global Islamic Finance Award

The Indonesia Stock Exchange (IDX) was again awarded “The Best Supporting Institution for Islamic Finance of the Year 2017” from the Global Islamic Finance Award.

Head of IDX Communication Division Yulianto Aji Sadono in an official statement in Jakarta, Sunday (9/10/2017) said that the bourse is the only institution from Indonesia that 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 the IDX Director Tito Sulistio in China on Saturday (9/9).

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

He 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 award.

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

By trade percentage, he also said that stock transactions in the IDX are 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.

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

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