Milestone

The Milestones of the development of sharia capital market in Indonesia was started on July 3rd, 2000 by the issuance of JII. Eventhough PT Danareksa Investment Management had priory launched a Danareksa Sharia on July 3, 1997, but due to the Self Regulatory Organizations (SRO) has not issued an official instrument related to Sharia Securities, the developments of Sharia capital market is not yet reckoned until the issuance of JII. Below are milestone of Sharia market development in Indonesia until today: 

 
[2000]
  • Jakarta Islamic Index (JII)
[2001]
  • Fatwa No. 20/DSN-MUI/IX/2001 concerning Guidelines for the implementation of Investment for Sharia Mutual Funds.
[2002]
  • Fatwa No. 32/DSN-MUI/IX/2002 concerning Sharia Bonds
  • Fatwa No. 33/DSN-MUI/IX/2002 concerning Mudharabah Sharia Bonds.
[2003]
  • Fatwa No. 40/DSN-MUI/X/2003 concerning Capital Market and Guidelines for the implementation of Sharia Principles in the Capital Market.
  • MOU between Bapepam & LK and DSN-MUI
[2004]
  • Fatwa No. 41/DSN-MUI/III/2004 concerning Ijarah Sharia
[2006]
  • Bapepam & LK Regulation No IX.A.13 concerning Issuance of Sharia Securities
  • Bapepam & LK Regulation No IX.A.14 concerning Contracts Used for the Issuance of Sharia Securities in Capital Market.
[2007]
  • Fatwa No. 59/DSN-MUI/V/2007 concerning Mudharabah Sharia Bonds Conversion
  • Bapepam & LK No II.K.1 Regulation concerning Criteria and Issuance of Sharia Securities List.
[2008]
  • Fatwa No. 65/DSN-MUI/III/2008 concerning Sharia Pre Emptive Rights
  • Fatwa No. 66/DSN-MUI/III/2008 concerning Sharia Warrants
  • Fatwa No. 69/DSN-MUI/VI/2008 concerning SBSN
  • Fatwa No. 70/DSN-MUI/VI/2008 concerning Issuance Method of SBSN
  • Fatwa No. 71/DSN-MUI/VI/2008 concerning Sale and Lease Back
  • Fatwa No. 69/DSN-MUI/VI/2008 concerning Sale and Lease Back of Ijarah SBSN
  • Law (UU) No. 19 Year 2008 concerning Government Sharia Securities (SBSN)
[2011]
  • Fatwa No. 80/DSN-MUI/III/2011 concerning The Implementation of Sharia Principles in the Equity Trading Mechanism at the Stock Exchanges Regular Market.
  • Indonesia Sharia Stock Index (ISSI)
  • Sharia Online Trading System
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