The Chief Executive Officer of the Indonesia Stock Exchange (BEI), Iman Rachman, has set an ambitious target, aspiring to see the number of Sharia-compliant capital market investors reach 1 million by the end of 2024. Iman highlighted the allure and immense potential for rapid growth in the Sharia capital market. Additionally, Indonesia stands out as a country implementing the Sharia Online Trading System (SOTS), facilitating investor transactions in the capital market. Since its launch in 2011, SOTS has continually evolved, boasting 18 exchange members providing SOTS services and five banks administering IDX Sharia. Iman emphasized the growing sophistication and appeal of the Sharia capital market, evident in the number of Sharia stocks listed on BEI, surpassing 50% over the past five years. The count has risen from 399 Sharia stocks in 2016 to 623. Sharia stocks now constitute 69% of the total listed stocks, totaling 903 companies. In terms of market capitalization, Sharia stocks command 52.7% of the total market capitalization on BEI, with daily transaction values accounting for 55% of the average daily stock transactions. Iman noted a remarkable 211% increase in Sharia investors over the last five years, surging from 44,536 in 2016 to 136,418 by December 2023. The BEI CEO expressed optimism, anticipating that the number of Sharia investors could reach 1 million in the current year.
BEI's strategies to propel Sharia investor growth in 2024 involve simplifying the account opening and stock transaction processes. Furthermore, BEI supports collaborations, actively promotes literacy, and fosters inclusivity in the Sharia capital market in Indonesia. Iman concluded by stating that BEI, through partnerships with Sharia investment firms, aims to enhance literacy and build trust in the Sharia capital market, ultimately boosting investor interest and participation. This initiative aligns with Indonesia's commitment to fostering a robust and inclusive Sharia capital market, harnessing its potential for economic development and financial inclusivity.
