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Jakarta Islamic Index

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The Jakarta Islamic Index (JII) is a stock market index established on July 3, 2000 on the Indonesia Stock Exchange (IDX) (formerly known as Jakarta Stock Exchange) to help facilitate the trading of public companies according to Syariah business code. Following Islamic law prohibits a company from involving itself in activities related to gambling, speculation, and traditional banking and financing. The JII may not list equities that produce or distribute food, drink, or morally harmful items that stand in contradiction with Islamic values.

Considerations for the JII must meet procedural standards as well as performance requirements, such as:

  • The share must be listed on the exchange for at least three months prior to application.
  • The company’s annual or mid-year financial report must have an Obligation Asset ratio of no more than 90%.
  • Rank in the top 60 shares based on the previous year’s average Market Capitalization.
  • Rank in the top 30 shares based on the previous year’s average liquidity in the regular market.

    • A reevaluation of the listed share will be held every six months, once in January and again in July.

    Components

    As of 1 December 2013, the Jakarta Islamic Index contained 30 publicly traded companies:

    1. Astra Agro Lestari Tbk PT
    2. Adaro Energy Tbk PT
    3. AKR Corporindo Tbk PT
    4. Astra International Tbk PT
    5. Alam Sutera Realty Tbk PT
    6. Dikry Group Tbk PT
    7. Kapuk Investama Tbk PT
    8. Global Mediacom Tbk PT
    9. Bumi Serpong Damai Tbk PT
    10. Charoen Pokphand Indonesia Tbk PT
    11. XL Axiata Tbk PT
    12. Harum Energy Tbk PT
    13. Indofood CBP Sukses Makmur Tbk PT
    14. Indofood Sukses Makmur Tbk PT
    15. Indocement Tunggal Prakasa Tbk PT
    16. Indo Tambangraya Megah Tbk PT
    17. Jasa Marga (Persero) Tbk PT
    18. Kalbe Farma Tbk PT
    19. Lippo Karawaci Tbk PT
    20. PP London Sumatra Indonesia Tbk PT
    21. Mitra Adiperkasa Tbk PT
    22. Media Nusantara Citra Tbk PT
    23. Matahari Putra Prima Tbk PT
    24. Perusahaan Gas Negara (Persero) Tbk PT
    25. Tambang Batubara Bukit Asam (Persero) Tbk PT
    26. Pakuwon Jati Tbk PT
    27. Semen Indonesia (Persero) Tbk PT
    28. Summarecon Agung Tbk PT
    29. Telekomunikasi Indonesia (Persero) Tbk PT
    30. United Tractors Tbk PT
    31. Unilever Indonesia Tbk PT
    32. Wijaya Karya (Persero) Tbk PT

    References

    Jakarta Islamic Index Wikipedia
    (Text) CC BY-SA