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The Green Sukuk is a means of aligning government funding with its commitment to the low-carbon transition, channeling funding to projects in renewable energy, energy efficiency, sustainable transport, waste management, conservation and other environmental priorities.
Currently, 13 sharia banks and 21 sharia business units operate in Indonesia. With the widely differing financial strengths among banks, it appears that the decline in the statutory reserve requirement has not been strong enough to shift the lending supply curve, but had accumulated the excess liquidity of sharia banks.
The evolution of the Islamic finance industry into a more sustainable ecosystem with over 1,291 financial institutions in more than 85 countries, means that it can contribute to the economic development of emerging economies.
