Chairperson of the Indonesian Association of Islamic Economists (IAEI) and Minister of Finance Sri Mulyani Indrawati emphasized that Indonesia has huge potential to become a role model for Muslim countries if it can build a sharia-based economic structure appropriately without adding burdens or creating inefficiencies and moral hazards.
“If we can build a proper Islamic economic structure, I am confident we will rise to the top in the world,” said the Finance Minister at the National Islamic Economy Symposium: Reflections on Indonesia’s Independence in 2025, held in Jakarta on Wednesday (August 13).
Sri Mulyani continued that the state budget is directed at strengthening the sharia economic ecosystem by emulating the character of the Prophet Muhammad, namely the need for integrity (shidiq and amanah), transparency (tabligh), and adaptive intelligence (fathonah) in managing state finances and promoting sharia economic growth.
“State finances as an instrument aim to facilitate, accelerate, and pave the way for many aspirations to create the largest Islamic economy in the world,” she said.
The Cash Waqf Linked Sukuk (CWLS) innovation is an example of a sharia-based financing instrument that can address contemporary challenges. This innovation has received an award from the Islamic Development Bank as an innovative social financing model based on waqf.
Sri Mulyani believes that if Indonesia can continue to manage its economy well, by combining Islamic values with modern economic growth to create a large economy and welfare for the people.
"By upholding Islamic values, Indonesia can become a large, the largest, and continuously strong economy that we can manage and create welfare for the people. Therefore, we must continue to manage the economy well," said the Chairperson.
To achieve this vision, President Prabowo Subianto, through Asta Cita, has begun building the economy from the grassroots level, including the Merah Putih Village Cooperative (KDMP), free health checkups, Free Nutritious Meals (MBG), People's Schools, and food security by strengthening farmers, fishermen, and others.
“I hope that in this discussion, we can focus more on developing strategies from the President’s platform, which has already outlined the direction and goals to achieve justice in Indonesia. The State Budget is an instrument for all of us, and we will continue to use it to address and achieve the ideal goals we aim to reach,” concluded the Chairman.
