KIK EBA Syariah BRI-MI JLB Officially Listed On IDX

BRI-MI officially listed a product of BRI-MI JLB Sharia Asset-Cult Collective Investment Contracts (KIK EBA Syariah BRI-MI JLB) (Photo: Aris Nurjani/VOI)

PT BRI Investment Management (BRI-MI) officially recorded a Collective Investment Contract product for the Sharia Asset-MI BRI-MI Jakarta Lingkar Baratatu (KIK EBA Syariah BRI-MI JLB) on the Indonesia Stock Exchange (IDX) on Monday, November 10.

The BJLB1 product, which is managed by BRI-MI, is the first Islamic EBA KIK product in the Infrastructure Sector recorded on the IDX.

IDX Corporate Assessment Director I Gede Nyoman Yetna said that the sharia asset (EBAS) collateral effect was issued with a value of IDR 1.8 trillion, received an idAA rating from Pefindo, and offered a yield of 8.5 percent.

"We as regulators hope that after today's recording of PT Jakarta Lingkar Baratatu can continue to improve its performance and of course from the Gvormance side, we hope that PT BRI-MI as the investment manager can always do professionally by providing protection for sharia ebus holders," he said at the Issuance Ceremony of the BRI-MI Jakarta Lingkar Baratsatu Sharia Sharia Asset-Proceived Investment Contract Collective Ceremony, Monday, November 10.

He added that the presence of this product is expected to increase the choice of investment instruments for Indonesian capital market investors, as well as provide tangible benefits for inclusive and sustainable national economic growth.

Meanwhile, President Director of BRI Investment Management Tina Meilina emphasized that the launch of this product is an important milestone in the development of Sharia-based investment in the national capital market.

According to him, this product reflects the high market interest in innovation of alternative investment instruments in accordance with Islamic principles.

Tina said that the listing of KIK EBA Syariah is a milestone that strengthens BRI-MI's position as a pioneer in developing Islamic investments with integrity and sustainability.

"Recording KIK EBA Syariah BRI-MI JLB on the stock exchange today proves that the principles of sharia, transparency, and economic value can go hand in hand in one credible investment instrument," he said.

In addition, this product marks strengthening the role of the Islamic capital market from just an alternative to strategic financing sources for national infrastructure development.

The basic assets that support this product are in the form of the toll revenue rights of PT Jakarta Lingkar Baratsatu, which come from the benefits of the JORR W1 Toll Road section, calculated based on the flow of vehicles crossing the toll road.

Furthermore, recording KIK EBA Syariah BRI-MI JLB is an important momentum for accelerating the growth of Islamic financial instruments in Indonesia, which until now still has great expansion potential.

In comparison, until 2024, the outstanding value of conventional EBA was recorded at IDR 1.9 trillion, while the EBA-SP Syariah had only reached IDR 297 billion. In other instruments, the issuance of conventional bonds was IDR 136 trillion, while sukuk was only around IDR 21 trillion. In the stock market, there are 40 conventional indexes compared to 5 Islamic indexes.

Through this recording, Tina emphasized BRI-MI's commitment to continue to strengthen the national sharia investment ecosystem, as well as support government programs in realizing sustainable, inclusive, and ethical financing.