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Jakarta Post

Govt to improve sharia finance regulations

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Fri, November 15 2019   /  02:00 am

The government will mend the legal framework on the development of sharia finance to unlock the untapped potential of the sector.In his address at the Indonesia Sharia Economy Festival held in Jakarta on Wednesday, Vice President Ma'ruf Amin said improvements to the regulatory framework would be made through a revision of Presidential Regulation (Perpres) No. 91/2016 on the National Committee for Sharia Finance.He expressed hope the revision would allow business players in sharia finance to maximally benefit from the country’s large Muslim population."The revision of Perpres No. 91 will expand its scope [from only sharia finance] to sharia economy, in which the president will serve as the chairman and the vice president the managing director of the National Committee for Sharia Finance," the former chairman of the Indonesian Ulema Council (MUI) said.He said he believed the sharia econo...