IDX Opens Opportunities for Expanding Stock Waqf via SOTS
The Indonesia Stock Exchange (IDX) is opening opportunities for expanding share waqf through the Sharia Online Trading System (SOTS) owned by exchange members. Currently, six exchange members have SOTS that can facilitate investors in endowing their sharia shares.
IDX President Director Jeffrey Hendrik said the development of this facility is part of expanding Islamic philanthropy within the sharia capital market ecosystem. Currently, six exchange members already have sharia online trading systems that can facilitate share waqf.
According to Jeffrey, the shares that can be endowed through this mechanism are sharia shares. The process is carried out through the SOTS application owned by exchange members. “What can be endowed is of course sharia shares because this is done through the sharia online trading system application,” Jeffrey told reporters at the IDX Media Room in Jakarta on Wednesday (12/8/2026).
Jeffrey said the facility will continue to be developed by exchange members that have SOTS. This development is expected to broaden public access to channelling waqf through sharia capital market instruments. “It will certainly continue to be developed by our exchange member colleagues who have sharia online trading systems,” he said.
One of the developments of share waqf through this ecosystem is being carried out by the Istiqlal Global Fund (IGF). Jeffrey said IGF is collaborating with Majoris Asset Management to professionally manage endowed shares through an investment manager.
“Regarding Istiqlal, this is a continuation of the cooperation between the Istiqlal Global Fund and Majoris Asset Management, which was carried out at the end of October, if I am not mistaken, in 2025,” said Jeffrey.
With this mechanism, investors who endow their sharia shares through SOTS exchange members will enter a professional management scheme by an investment manager. “So with that mechanism, investors who endow their sharia shares through SOTS exchange members will be professionally managed by an investment manager,” he said.
Jeffrey explained that in the practice of share waqf so far, shares endowed by investors through SOTS exchange members are channelled to a nazir in the form of a waqf institution. Meanwhile, in the Istiqlal Global Fund scheme, there is cooperation with Majoris Asset Management for professional asset management.
“The Istiqlal Global Fund is indeed working with Majoris Asset Management to manage it professionally, carried out by the investment manager,” he said.
The IDX does not yet have data on the value of funds that have been collected or managed through this scheme. However, the development of share waqf facilities through SOTS continues to be carried out as the sharia capital market ecosystem develops.