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Jakarta Post

Sharia economy to become ‘new wave’ of Indonesia’s economy: VP

  • Riska Rahman


Jakarta   /   Fri, October 30 2020   /  01:00 am
Ma’ruf Amin, Vice President of Indonesia gives his speech during a webinar, JakPost Up Close: Sharia finance gaining momentum in Indonesia’s economic recovery in Jakarta on October 28. 2020. There are also another speakers in the Webinar, Sutan Emir Hidayat, Director of Islamic Economy Supporting Ecosystem, National Committee for Islamic Economy and Finance (KNEKS), Friderica Widyasari Dewi, Deputy Secretary General, Indonesian Islamic Economy Expert Association (IAEI)/BRI Danareksa Sekuritas CEO, Eddie Omar Davis, Operations Team Leader, Islamic Development Bank Indonesia (IsDB) Regional Hub Indonesia, Nini Sumohandoyo, Sharia, Government Relations and Community Investment Director Prudential Indonesia moderated by Endy Bayuni, The Jakarta Post Senior Editor and hosted by Esther Samboh, The Jakarta Post Deputy Managing Editor. (JP/Wienda Parwitasari )

he sharia economy could become the “new wave” of Indonesia’s economy and strengthen the country’s economic resilience, Vice President Ma’ruf Amin has said. He cited a Boston Consulting Group (BCG) estimate that there were 64.5 million middle-class Muslims in Indonesia in 2020. This presents a huge opportunity for sharia finance, as they will need to have options of halal products and sharia-compliant financial services to fit their lifestyle and principles. Ma’ruf also believed that the sharia economy could have a huge potential in strengthening national economic resilience and improving public welfare. “That said, I think it’s appropriate to call the sharia economy the new wave for Indonesia’s economy,” he said during the Jakpost Up Close webinar “Sharia finance gaining momentum in Indonesia’s economic ...