On 2 March 2023, the Indonesian Financial Services Authority (the Authority) issued a new circular letter* (Circular Letter), applicable to issuers or public companies, that sets out new procedures for inclusion on the Shariah Securities List.

The Circular Letter provides that to apply for possible inclusion on the Shariah Securities List, an issuer or public company must submit certain information about the relevant securities. This information must be submitted in a certain format through the Authority’s Electronic Reporting System via the website https://spe.ojk.go.id (the Website). Details about the all the information required, as well as the necessary format can be found on the Website. The Circular Letter states that submission must take place no later than 30 days after the submission of the Periodic Financial Report. Evidence of submission will serve as proof of compliance with the Circular Letter.

*Circular Letter of the Financial Services Authority of the Republic of Indonesia Number 8/SEOJK.04/2023 concerning Delivery of Information by the Issuer or Public Company in the Preparation of the Shariah Securities List.