Tuesday, 25 June 2019 | 12:24 WIB

Xdana Launches First Ever Sharia Mutual Fund Investment App in Indonesia

Xdana Launches First Ever Sharia Mutual Fund Investment App in Indonesia (xdana)

JAKARTA, NETRALNEWS.COMPT Xdana Investa Indonesia has again launched the latest mutual fund application. The Xdana Syariah is a special application for sharia mutual fund products that is the first to be launched in Indonesia.

The launch of the Xdana Syariah Application was attended by Hasan Fawzi (Director of Development of the Indonesia Stock Exchange), Fadilah Kartikasasi (Director of Islamic Capital Market - OJK), Mohammad Suryadi (President Commissioner of PT Xdana Investa Indonesia), Djoko Koostanto (Commissioner of PT Xdana Investa Indonesia), Li Ming Suryaputra (Director of PT Xdana Investa Indonesia), and Imas Suryati Sihombing (Director of PT Xdana Investa Indonesia).

Indonesia with a majority of the population is Muslim, making sharia-based investment products a potential product. Islamic-based products or Islamic products experienced significant growth in the past 5 years, especially Islamic mutual fund products.

In 2014 there were 74 sharia mutual fund products and in 2019 they increased to 242 products. Thus the total assets or managed funds of sharia mutual fund products as of March 22, 2019 have reached 34.62 trillion or grew by around 24.7% from 2017.

This growth is one indicator that the increasingly widespread Islamic mutual fund products and the increasing public interest in Islamic mutual fund products as an alternative investment.

Xdana also sees that the community expects to be able to invest in a special platform based on sharia mutual funds in an easy and affordable way. These are the things that underlie the establishment of Xdana Syariah, a special application for Islamic mutual funds for the community.

The Xdana Syariah application is expected to be a solution for the needs of capital market investors who want to invest in Islamic mutual fund products.

By downloading the Xdana Syariah application through the Play Store or Apps Store, investors can immediately start investing and choose available Islamic mutual fund products in accordance with the objectives and risk profile.

The minimum investment starts at IDR 10,000 only, and is not subject to investment costs. The Xdana Syariah application also includes a comprehensive analysis and monitoring feature.