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View all search resultsBased on the 2019 Islamic Finance Development Indicator (IFDI) launched on Tuesday by the Islamic Corporation for the Development of the Private Sector (ICD) and financial market data provider Refinitiv, Indonesia’s ranking jumped six steps to fourth from 10th place in 2018 after Malaysia, Bahrain and the United Arab Emirates.
The fund management industry has rapidly grown in the financial market. In terms of investment targets, most are equity funds, which highlights the higher risk appetite and longer time horizon of investors in mutual funds globally.
Indonesia, as the country with the largest Muslim population and the most generous country worldwide (World Giving Index, 2018), is very much expected to play a significant role in harnessing the potential of Islamic endowments to promote prosperity and justice.
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