Jokowi: Islamic Financial Center Key to Driving Sharia Economic Growth
- Dok. Biro Pers Sekretariat Presiden
Jakarta, VIVA – President Joko Widodo (Jokowi) inaugurated the Indonesia Islamic Financial Center (IIFC) in Jakarta on Tuesday (Sept 17).
In his remarks, the Head of State emphasized the importance of developing the Sharia economy in Indonesia, considering the country’s Muslim population of 236 million.
“This is a huge market, a big potential that we must consider, so that the opportunities do not slip away to other countries,” the President said.
He then stated that Indonesia has a great opportunity to become the global center of the halal industry.
Presiden Jokowi meresmikan Kawasan Indonesia Islamic Financial Center
- Dok. Biro Pers Sekretariat Presiden
"This move should be followed by strengthening the Sharia economy ecosystem and preparing professional halal industry players," he remarked.
The President also highlighted the significant growth of the Sharia financial industry in Indonesia. He explained that the assets of Sharia banks grew by 9.07 percent, while the assets of national banks grew by 8.9 percent.
Third-party funds in Sharia banks also grew by 10.41 percent, compared to 8.43 percent for national banks.
“If we look at the numbers, the Sharia financial industry is growing at a higher rate than national banks,” the President highlighted.
Moreover, he expressed that this growth shows Indonesia’s vast potential to become a benchmark for Sharia banking, not only at the national level but also in Asia and globally.
The president also hopes that Sharia banks in Indonesia can compete globally with modern, professional, and competitive management.
The IIFC area is expected to become a center for developing the Sharia economy ecosystem and supporting various halal industries, ranging from Muslim fashion, halal tourism, to the halal food and beverage industry.
“This will support all of these sectors, ensuring that the existing potential doesn’t slip away to other regions or countries,” the head of state concluded.
