Indonesia Sharia Stock Index Corrected 36 Percent, Corporate Sukuk Still Grows

The Financial Services Authority (OJK) reported on the development of Indonesia’s sharia financial services sector during the first half of 2026. The Indonesia Sharia Stock Index (ISSI) recorded a correction of 36.30 percent to 196.59 at the end of June 2026, down from 215.57 at the end of May 2026. Market capitalisation also fell to Rp 4,922.17 trillion from Rp 6,135.77 trillion the previous month. Assets under management for sharia mutual funds declined to Rp 81.64 trillion at the end of June 2026, compared to Rp 83.71 trillion in the prior month. Despite the downturn in the sharia stock index and mutual fund AUM, corporate sukuk managed to grow 15.23 percent year-to-date to Rp 101.64 trillion, according to OJK Deputy Chairman of the Board of Commissioners Hernawan Bekti Sasongko during an online press conference. The value of corporate sukuk in June 2026 rose from Rp 95.89 trillion the previous month, while state sukuk remained stable at Rp 1,793.39 trillion. In the sharia banking sector, total assets stood at Rp 1,047.03 trillion as of May 2026, a slight decrease from Rp 1,055.26 trillion in April 2026, with the market share dipping to 7.26 percent from 7.46 percent. However, sharia banking financing grew 10.32 percent year-on-year to Rp 729.45 trillion, and sharia financing receivables increased by 10.87 percent year-on-year. OJK reiterated its commitment to developing and strengthening the sharia financial services sector and consistently promoting sharia financial literacy and education to boost inclusion.