MUI says promoting Shrot is Haram, That is the response of the OJK Boss

Jakarta, CNBC Indonesia – The Monetary Companies Authority (OJK) believes that the Haram fatwa of the Nationwide Sharia Council – Ulema Council of Indonesia (DSN-MUI) relating to the brief promoting of shares is only a distinction of opinion.

Capital Market Analysis Senior Officer, Spinoff Finance, OJK Carbon Change Inarno Djajadi stated that the MUI mustn’t say that brief promoting is gharar, aka transactions the place there isn’t a product.

“The opinion could also be completely different, as a result of brief gross sales are thought-about to be non-existent items. Actually, in fact, our brief gross sales are not any such factor as naked brief promoting,” stated Inarno when met on the DPR Constructing of the Republic of Indonesia, Thursday, (27/6/2024).

As well as, Inarno stated, brief promoting in Indonesia just isn’t just like the naked brief promoting system on different exchanges. So, technically, buyers borrow shares that all the time have a commodity.

Nonetheless, he argued that whereas the fatwa was declared as such, his social gathering stated it might nonetheless observe the rules, together with not together with sharia traitors on an inventory are shares that could be offered brief.

“But when, for instance, they suppose it is haram proper now, in fact we’ll observe first, we’re not allowed to enter SOTS or we’re not allowed to share sharia sections.” share there,” defined Inarno.

Beforehand, the Indonesia Inventory Change (BEI) introduced plans to deliver again brief promoting transactions to start in October 2024.

The Director of Buying and selling and Administration of IDX Buying and selling Members, Irvan Susandy, stated that this step follows the transition interval for the implementation of the Regulation of the Monetary Companies Authority (POJK) No. 6 of 2024 relating to the Financing of Securities Transactions by Securities Firms for Prospects -buying and Brief Promoting Transactions. by Securities Firms.

His social gathering is at present discussing Change Rules with the OJK. BEI can also be growing the system and preparation of trade members who’re excited about turning into Brief Promoting Change Members.

To cut back the chance of default, IDX will introduce Intraday Brief Promoting, the place buyers should shut brief positions on the finish of the day. Members are additionally restricted.

“Please be aware that the brief sale that will likely be applied just isn’t open to all buyers. Solely sure buyers who’ve been licensed by the Change Members who’ve been granted Brief Promoting permission can perform brief promoting transactions,” he defined.