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Jakarta Post

Islamic finance an engine of development, growth

Jakarta   /   Fri, August 4, 2017   /  10:32 am
Islamic finance an engine of development, growth Muslim women wear mukena (head-to-toe prayer gowns) during Idul Fitri prayers in Gumuk Pasir, Parangkusumo, Yogyakarta. (The Jakarta Post/Albertus Magnus Kus Hendratmo)

President Joko “Jokowi” Widodo has just launched the National Islamic Finance Committee (KNKS), which aims to synchronize and integrate the Islamic finance policies of relevant government bodies. Under Government Regulation No. 91/2016, the KNKS, headed by the President with the committee members from relevant ministries and government authorities, has the function of formulating and recommending the direction of cross-sectoral strategic programs in contributing to the economic growth of the nation. Hence, Islamic-finance development can be integrated into the national economic packages through the KNKS to enhance national welfare and prosperity, which fulfills the aspirations of Jokowi’s Nawa Cita (nine-point agenda). In light of that fact, the KNKS is in line with the Sustainable Development Goals (SDGs) set by the United Nations with 17 goals to foster globa...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.