Finance authority launches Islamic finance road map
The Jakarta Post
The Financial Services Authority (OJK) launched on Tuesday a road map for the development of Islamic finance in Indonesia for the 2017-2019 period, aiming to create sustainable Islamic financial services that can compete with conventional services in Indonesia.
The road map is expected to address various challenges related to the sharia financial industry, such as small market share, limited variation of products and lack of literacy on sharia finance products, said OJK Board of Commissioners chairman Muliaman D Hadad.
“We also hope that the road map can solve the shortage in human resources, optimize coordination with stakeholders and harmonize financial services policies,” Muliaman said in Jakarta.
Each Islamic financial sector — sharia banking, sharia capital market and sharia non-bank financial industry – organizes its own road map during the period.
"In the period between 2017 and 2019, the three established road maps will be used to synchronize the development of the Islamic financial industry to the master plan of the Indonesian financial services," Muliaman said.
He also emphasized the importance of making the sharia financial industry inclusive and able to meet the needs of small and medium-scale to large-scale financing.
Currently, the market share of Islamic finance covers only about 5 percent of the country’s total financial services. (dis/bbn)
- Three former presidents join Jokowi to celebrate Independence Day
- Jokowi praises Jakarta for Semanggi interchange
- UGM tops RI university ranking
- Eleven teens suspected in prostitution ring
- SEA Games: Indonesia beats Philippines 3-0
- Ahok, other prisoners barred from Independence Day event
- SBY attends ceremony at State Palace
- Ten-year-old India rape victim gives birth to baby girl
- Aceh International Halal Food Festival 2017 to focus on certification
- Jokowi inaugurates new Semanggi overpass on Independence Day