REPUBLIKA.CO.ID, JAKARTA -- Financial Services Authority (OJK) encouraged issuers to take advantage of Islamic capital market. In addition to advantage of incentives, the use of Islamic capital market also broaden the investor base.

Deputy Director of Islamic Capital Markets of OJK Muhammad Touriq said, by using Islamic capital market instruments, investors are able to access conventional and sharia business. OJK also provided incentives for companies who want to utilize Islamic capital market instruments.

In the list of Islamic securities period two in 2015 published by OJK, there were 331 Islamic stocks or 54 percent of the total effect on the national capital market. Islamic securities market capitalization reached Rp 4,811 trillion.

While sharia bonds corporate were 41 worth to Rp 8.2 trillion. In terms of value, the share of new sharia bonds corporate reached 3.3 percent of the value of debt securities in the market.

OJK saw there was no obstacle to understanding sharia bonds corporate. Therefore, through recycle program, OJK conducted education and training about the issuance of sharia bonds.

"We see there is also a trend of single sharia bonds issuance as conducted by XL Axiata,'' said Touriq.

OJK also facilitated industry to vary the Islamic capital market products such as Islamic mutual fund foreign securities. By doing so, target of Islamic financial share of five percent was expected to be achieved.

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