Jakarta Islamic Index
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:
- Astra Agro Lestari Tbk PT
- Adaro Energy Tbk PT
- AKR Corporindo Tbk PT
- Astra International Tbk PT
- Alam Sutera Realty Tbk PT
- Dikry Group Tbk PT
- Kapuk Investama Tbk PT
- Global Mediacom Tbk PT
- Bumi Serpong Damai Tbk PT
- Charoen Pokphand Indonesia Tbk PT
- XL Axiata Tbk PT
- Harum Energy Tbk PT
- Indofood CBP Sukses Makmur Tbk PT
- Indofood Sukses Makmur Tbk PT
- Indocement Tunggal Prakasa Tbk PT
- Indo Tambangraya Megah Tbk PT
- Jasa Marga (Persero) Tbk PT
- Kalbe Farma Tbk PT
- Lippo Karawaci Tbk PT
- PP London Sumatra Indonesia Tbk PT
- Mitra Adiperkasa Tbk PT
- Media Nusantara Citra Tbk PT
- Matahari Putra Prima Tbk PT
- Perusahaan Gas Negara (Persero) Tbk PT
- Tambang Batubara Bukit Asam (Persero) Tbk PT
- Pakuwon Jati Tbk PT
- Semen Indonesia (Persero) Tbk PT
- Summarecon Agung Tbk PT
- Telekomunikasi Indonesia (Persero) Tbk PT
- United Tractors Tbk PT
- Unilever Indonesia Tbk PT
- Wijaya Karya (Persero) Tbk PT
References
- IDX, Syariah Products, retrieved 2008-08-11
- IDX, Jakarta Islamic Index, Peng-00673/BEI.PSH/11-2013 (PDF), retrieved 2014-02-07