Sabtu, 09 April 2011

Bapepam-LK Will Publish Certification for Islamic Products

JAKARTA, KOMPAS.com - Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) will issue rules on certification for investment managers (MI) as well as representatives of the seller agent (WAPERD) Islamic investment products.
The core of this new rule is to nor WAPERD MI must have a certificate of sharia if you want to publish and sell Islamic investment products, such as Islamic mutual funds. "The purpose of this certification rules for growing Islamic market," said the source KONTAN.
The source added that sharia is no different certification with the certification of representative securities sales agent for mutual funds (WAPERD) a run for it. This certification is to ensure that Sharia-compliant investment instruments managed by people who know about the principles of sharia. It's known, Islamic investment products is very specific and have different rules with conventional products.
Robinson Simbolon, Head of Legislation and Legal Aid of Bapepam-LK, confirmed the plan to issue the certification rules. "Pengkajiannya not finished. So, I have not been able to talk later what kind of certification," he said.
This certification rules, said sources KONTAN, it could be referring to the draft revision of the Capital Market Law that are new or could have become the rule itself.
Trimegah Director Rosinu assess, plan certifications will help the development of Islamic financial markets. According to him, developing the potential of Islamic investment instruments such as Islamic banking products. "Many banks are already making subsidiary of Islamic banks and the Indonesian people are very enthusiastic," he said.
Rosinu added that sharia mutual fund market is now showing the growth of managed fund that is large enough. Based on data from Bapepam-LK, the Islamic mutual funds have grown 280 percent. The value of Islamic mutual funds under management as of the end of May has reached Rp 2.9 trillion, much improved compared to the value as of the end of 2008, which is only Rp 774 billion. "This rule is important to maintain the momentum," said Rosinu.
However Rudiyanto, Analyst Main Infovesta, assessing the certification rules of sharia does not need to be made separate from conventional product certification. "If the certification process split between conventional and sharia would incriminate MI in the matter of funding," said Rudiyanto.
 

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