Monday, 15 June 2015

Indonesia: should become center of Islamic finance

President Joko "Jokowi" Widodo said on Sunday Indonesia should become the center of the global Islamic, or shariah, finance system due to its huge potential for building this financial system.
"I warmly welcome the proclamation of the Islamic finance campaign and we need to pay close attention to the shariah financial service sector. It has rapidly grown but is not yet optimal if we look at its potential," he said as quoted by Antara.
The President was speaking during the launch of the I Love Shariah Finance program initiated by the Financial Services Authority (OJK) in Senayan, Central Jakarta.
"We are the country with the largest number of micro financial institutions in the world, and the biggest ever Islamic debt paper [sukuk] publisher as well. We are the one and only country that issues retail Islamic debt papers so that they can be widely used and developed," said Jokowi.
"If such huge potential could be developed well, Indonesia could become a center for the development of international shariah finance," he went on.
(The Jakarta Post / 14 June 2015)
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