Indonesia Rolls Out Sharia-Compliant Gold ETF
Indonesia has launched a Sharia-compliant Gold Exchange-Traded Fund (ETF) to boost its bullion market and deepen capital sector liquidity. The OJK and stock exchange operators introduced the ETF on Monday, aiming for quick growth in the nation's eight action plans.
The new Gold ETF allows investors to gain exposure to gold price movements without physically storing the precious metal. It adheres to Islamic financial principles under a fatwa issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI).
The product integrates physical gold as an underlying asset, records digital ownership via Electronic Gold Receipts at KSEI, and facilitates participation unit trading on the IDX. The launch symbolizes hope that the capital market will thrive and contribute to Golden Indonesia 2045.