On Monday, June 19, 2023, the trading session of the Indonesia Stock Exchange (IDX) was officially opened by the Vice President of the Republic of Indonesia, K.H. Ma’ruf Amin, along with the Deputy Minister of the Indonesia Onward Cabinet, Kartika Wirjoatmodjo, Mr. Suahasil Nazara, Commissioner and President Director of PT Sarana Multigriya Finansial (Persero), Ananta Wiyogo, and the President Director of PT Bank Syariah Indonesia Tbk, Hery Gunardi. This ceremony marked the inauguration of the initial listing of Shariah Asset-Backed Securities in the form of Participation Multigriya Financial Facility – Shariah Bank Indonesia Number 1 Class A (EBAS-SP SMF-BRIS01 Class A).
The listing of Shariah Asset-Backed Securities by Bank Syariah Indonesia and PT Sarana Multigriya Finansial will contribute to the variety of Shariah financial instruments available in the financial market. It serves as an alternative source of financing in the housing sector for companies and as an investment alternative for the public, alongside sukuk, stocks, and Shariah mutual funds.
Apart from diversifying sources of financing, the issuance of Shariah Asset-Based Securities has numerous other benefits. These include the profits derived from using these instruments, which can aid in the development of companies, provide cheaper funding, and be utilized by small to medium-sized enterprises to enhance corporate liquidity.