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Syariah
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List of 431+ stocks that meet sharia criteria on IHSG, grouped by sector. Complete with real-time price, PER, PBV, and fair value.
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Sharia stocks are shares from companies whose business activities do not conflict with Islamic sharia principles. These stocks have been screened and approved by the National Sharia Board (DSN) of the Indonesian Ulema Council (MUI) and are included in the Sharia Securities List (DES) issued by the Financial Services Authority (OJK).
1. Halal Business Activities
Companies must not engage in gambling, interest-based financial services (conventional banks, conventional insurance), production/distribution of non-halal food and beverages, or tobacco products.
2. Interest-Based Debt Ratio ≤ 45%
Total interest-bearing debt must not exceed 45% of the company's total assets.
3. Non-Halal Revenue ≤ 10%
Non-halal revenue (bank interest, etc.) must not exceed 10% of the company's total revenue.
4. Biannual Review
The Sharia Securities List (DES) is reviewed and updated by OJK every 6 months (May and November). Stocks can be added to or removed from the list based on review results.
What's the difference between sharia and regular stocks?
Sharia stocks have been screened based on Islamic principles — business activities must be halal, interest-bearing debt ratio max 45% of total assets, and non-halal revenue max 10%. Regular stocks don't have this filter.
Do sharia stocks have lower returns?
Not necessarily. Many sharia stocks like ADRO, ANTM, INCO, CPIN have very competitive returns. Sharia screening actually eliminates companies with excessive debt, which can reduce risk.
When is the sharia stock list updated?
OJK updates the Sharia Securities List (DES) every 6 months, usually in May and November. Stocks can be added to or removed from the list based on the latest evaluation.