As the country with the largest Muslim population in the world, Indonesia holds vast potential to become a hub for sharia-based financial growth. Sharia investment in Indonesia began developing with the establishment of Bank Muamalat Indonesia in 1991. Then, in 1997, the first Sharia Mutual Fund product was launched to the public. Over time, the growth accelerated with the creation of the Indonesia Sharia Stock Index (ISSI) in 2011 and the emergence of various other sharia investment instruments, such as Sukuk (sharia bonds) and Sharia ETFs.
For Muslim communities, sharia investment is not merely a financial choice, but also a form of adherence to Islamic principles. This type of investment ensures greater blessings by avoiding riba (interest), gharar (uncertainty), and maysir (speculation). Additionally, sharia investment offers transparency, fairness in profit and risk sharing, and ethical awareness by steering clear of prohibited or harmful business sectors such as alcohol, gambling, and environmentally destructive industries.
ISSI Market Capitalization Growth Surpasses IHSG
In the capital market, the market capitalization of sharia stocks listed in ISSI reached Rp6.8 trillion in 2024, an increase of 11.1% compared to the previous year. This growth even surpassed the increase in the JCI (Indonesia Composite Index) market capitalization, which grew by 5.0% in the same year. The ISSI’s rise was driven by a 7.9% increase in the number of sharia stocks, totalling 679, along with a 21% growth in the number of sharia investors, reaching 167,552.*
Besides ISSI, Indonesia also has four other sharia stock indices: the Jakarta Islamic Index (JII), which comprises 30 large-cap and highly liquid sharia stocks; JII 70, consisting of 70 such stocks; IDX Sharia Growth, which tracks the price performance of 30 sharia stocks with a trend of net profit and revenue growth relative to price, supported by strong transaction liquidity and financial performance; and IDX – MES BUMN 17, consisting of 17 sharia-compliant stocks owned by state-owned enterprises (SOEs) and their affiliates with strong fundamentals.
Blessed Investment with Growin’ Syariah
Recognizing the potential growth of the sharia capital market and financial sector, as well as the continually rising market capitalization amid global economic uncertainty, Mandiri Sekuritas offers sharia-compliant investment through its digital platforms. After previously introducing MOST (Mandiri Online Securities Trading) Syariah, in November 2024, Mandiri Sekuritas launched the new Growin’ Syariah digital platform, making sharia-compliant investing an increasingly appealing option. The innovative Growin’ Syariah platform offers convenience for individuals who wish to invest with greater peace of mind and blessings, as the entire system is designed in alignment with Islamic principles. The Growin’ Syariah system will automatically reject any investments that do not comply with sharia guidelines.
Growin’ Syariah is also open to non-Muslim investors who are interested in investing in a more peaceful, ethical, and blessed way. The platform is easily accessible via growin.id or the Growin’ app available on the AppStore and PlayStore. Growin’ Syariah offers comprehensive sharia capital market investment ecosystem, starting from the opening of a Customer Fund Account (Rekening Dana Nasabah/RDN), various sharia financial instruments such as stocks, mutual funds, and sukuk, and every stock transaction on Growin’ Syariah is conducted on a cash basis, meaning purchases can only be made using the funds available in the RDN—fully in accordance with Islamic capital market principles, as outlined in DSN-MUI Fatwa No. 80 of 2011.
Ready to invest the sharia way—safely, comfortably, and with blessings?
Visit growin.id or download the Growin’ app on the AppStore or PlayStore. MOST Syariah customers can also access Growin’ Syariah by using the same username and password.
Happy investing!
