Irwan Abdalloh is head of market development department at the Indonesia Stock Exchange with one of responsibilities is to develop the Islamic capital market in Indonesia. He successfully developed the concept of Islamic capital market education program through the School of Islamic Capital Market (SICM). He was one of those who took an active role in encouraging the issuance of the fatwa no. 80 regarding The Application of Sharia Principles in Trading Mechanism of Equity at Stock Exchange Regular Market by The National Sharia Board – Indonesian Council of Ulema. He successfully developed a business model of Shariah Online Trading System as a tool to increase Sharia-based investor in Indonesia. He is also a lecturer in Islamic Investment in the Post Graduate program of University of Indonesia and Islamic Capital Market at the Tazkia University College of Islamic Economics.
Socializing Islamic Capital Market Products through Public Education Events: The Case of Indonesia
The Islamic capital market (ICM) in Indonesia is not a stand-alone capital market which has its own system. Nor is the ICM separated from the country’s capital market system as a whole. In fact, ICM instruments use the same mechanism as the conventional market for their underwriting and trading. Indonesia, with the world’s largest Muslim population, would seem to have great potential to develop ICM, whether in the form of fatwa, regulations¸ products, or other initiatives.
