The Indonesia Stock Exchange (IDX) and the Hajj Financial Management Agency (BPKH) signed a memorandum of understanding. This collaboration is carried out in the context of developing the Islamic capital market and supporting the financial management of Hajj funds. The signing was carried out by IDX President Director Inarno Djajadi and BPKH Head Anggito Abimanyu on Wednesday (24/11) at the IDX Main Hall. This collaboration is expected to provide optimal benefits for the Islamic capital market industry and also BPKH. "Through this collaboration, it is hoped that it can increase the growth of the sharia capital market, increase the number of variations of sharia investment instruments, and provide easy facilities for the financial management of hajj funds in the form of investment allocations in securities or sharia securities," said IDX President Director, Inarno Djajadi through press release, Wednesday (24/11).

The scope of the collaboration between IDX and BPKH includes several things, including developing a variety of sharia investment instruments in the Indonesian capital market and supporting the smooth implementation of the financial management of Hajj funds. In addition, this collaboration will conduct studies in the context of compiling the sharia index and organize educational activities to increase literacy related to investment in the sharia capital market, as well as education about going public in the Indonesian capital market. This collaboration also includes the exchange of information for the development of the Indonesian Islamic capital market. The Islamic capital market in Indonesia has grown rapidly in recent years with the increasing demand for Islamic capital market products. This growth can be seen from the number of sharia shares listed on the IDX which increased by 37 percent from 318 sharia shares in 2015 to 436 sharia shares on November 23, 2021. The market capitalization value of the Indonesian Sharia Stock Index (ISSI) grew 48 percent from Rp 2,601 trillion in 2015 to Rp3,845 trillion on November 23, 2021. In addition, managed funds (NAV) in sharia mutual funds also increased by 271 percent from Rp11.02 trillion in 2015 to Rp40.95 trillion as of October 2021. Total accumulated funds raised from the issuance of corporate sukuk increased by 306% from IDR 16.11 trillion in 2015 to IDR 65.41 trillion as of September 2021. Meanwhile, the number of outstanding state sukuk also increased by 287 percent from IDR 297.6 trillion in 2015 to IDR 1,151 .6 trillion in September 2021.

Sources: https://www.republika.co.id/berita/r3268c370/kembangkan-pasar-modal-syariah-bei-teken-mou-dengan-bpkh