The Jakarta Islamic Index (JII) is a

stock market index In finance, a stock index, or stock market index, is an Index (economics), index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calcul ...

established on July 3, 2000 on the

Indonesia Stock Exchange Indonesia Stock Exchange (IDX) ( (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In rece ...

(IDX) (formerly known as

Jakarta Stock Exchange Jakarta Stock Exchange (JSX; Indonesian: Bursa Efek Jakarta (BEJ)) was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesia Stock Exchange. History Originally opened in 1912 unde ...

) to help facilitate the trading of public companies according to

Syariah Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on scriptures of Islam, particularly the Qur'an and hadith. In Islamic terminology ''sharīʿah'' refers to immutable, intan ...

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. Unlike the Indonesian Syariah Stock Index (ISSI) that lists all IDX stocks that meet the Syariah code, stocks listed under 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 shares is held biannually and the results are publicized in May and in November.

Components

As of 1 December 2020, the Jakarta Islamic Index contained 30 publicly traded companies: # Adaro Energy Tbk. (ADRO) #AKR Corporindo Tbk. (AKRA) # Aneka Tambang (Persero) Tbk. (ANTM) #Barito Pacific Tbk. (BRPT) #Bank BTPN Syariah Tbk. (BTPN) #Charoen Pokphand Indonesia Tbk. (CPIN) # XL Axiata Tbk. (EXCL) #Indofood CBP Sukses Makmur Tbk. (ICBP) #Vale Indonesia Tbk. (INCO) # Indofood Sukses Makmur Tbk. (INDF) #Indah Kiat Pulp & Paper Tbk. (INKP) # Indocement Tunggal Prakarsa Tbk. (INTP) #Japfa Comfeed Indonesia Tbk. (JPFA) # Kimia Farma Tbk. (KAEF) # Kalbe Farma Tbk. (KAEF) #Merdeka Copper Gold Tbk. (MDKA) #Mitra Keluarga Karyasehat Tbk. (MIKA) # Media Nusantara Citra Tbk. (MNCN) # Perusahaan Gas Negara Tbk. (PGAS) #Bukit Asam Tbk. (PTBA) #PP (Persero) Tbk. (PTPP) # Pakuwon Jati Tbk. (PWON) # Surya Citra Media Tbk. (SCMA) # Semen Indonesia (Persero) Tbk. (SMGR) #Pabrik Kertas Tjiwi Kimia Tbk. (TKIM) # Telekomunikasi Indonesia (Persero) Tbk. (TLKM) #Chandra Asri Petrochemical Tbk. (TPIA) # United Tractors Tbk. (UNTR) # Unilever Indonesia Tbk. (UNVR) #Wijaya Karya (Persero) Tbk. (WIKA)

References

* Indonesia Stock Exchange Indonesian stock market indices Sharia investment {{stockexchange-stub