Jakarta Islamic Index

The Jakarta Islamic Index (JII) is a stock market index established on July 3, 2000 on the Indonesia Stock Exchange (IDX) 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 June 2008, the Jakarta Islamic Index contained 30 publicly traded companies:
#Bumi Resources Tbk
#Aneka Tambang Tbk
#Telekomunikasi Indonesia Tbk
#Tambang Batubara Bukit Asam Tbk
#Bakrieland Development Tbk
#Bakrie Sumatra Plantations Tbk
#International Nickel Indonesia Tbk
#Timah Tbk
#Indo Tambangraya Megah Tbk
#United Tractors Tbk
#Astra Agro Lestari Tbk
#Sampoerna Agro Tbk
#PP London Sumatera Tbk
#Truba Alam Manunggal Engineering Tbk
#Elnusa Tbk
#Kawasan Industri Jababeka Tbk
#Semen Gresik Tbk
#Lippo Karawaci Tbk
#Ciptura Development Tbk
#Media Nusantara Citra Tbk
#Kalbe Farma Tbk
#Ciptura Property Tbk
#Wijaya Karya Tbk
#Unilever Indonesia Tbk
#Bisi International Tbk
#Sentul City Tbk
#Indocement Tunggal Prakasa Tbk
#Alam Sutera Realty Tbk
#Global Mediacom Tbk
#Total Bangun Persada Tbk

References

*Citation
last=IDX
title=Syariah Products
url=http://www.idx.co.id/MainMenu/TentangBEI/OurProduct/SyariahProducts/tabid/142/lang/en-US/language/en-US/Default.aspx
accessdate=2008-08-11
*Citation
last=IDX
title=Jakarta Islamic Index, Peng-133/BEI.PSH/U/06-2008
url=http://202.155.2.90/ann_pdf/PENG-133_BEI-PSH_U_06-2008.pdf
accessdate=2008-08-11