According to Vice President KH Ma'ruf Amin, sharia economy and finance is a new stream of national economic growth and an engine of inclusive economic growth. This is the principle of Islamic finance that prioritizes justice and equitable distribution of welfare that is accepted by all groups.
“This is evidenced by the positive performance of the Islamic economy and finance which was driven by the growth of the leading sector of the halal value chain by 3.93 percent,” Ma'ruf Amin said as reported by the republika.co.id page in Jakarta, Tuesday (3/9/2024).
The Islamic financial sector is also able to support nearly 23 percent of the national economy. Its development is characterized by increasing assets and diversification of Islamic financial institutions. Islamic capital market assets reach nearly 20 percent of total national capital market assets.
Going forward, the government continues to ensure and oversee the sustainability of the development of Islamic economics and finance by integrating Islamic economics and finance in the 2025-2045 RPJPN and 2025-2029 RPJMN as the main program on productivity-based economic transformation.
“I hope this will be a strong foundation for the sustainability of the development of Islamic economics and finance during the next leadership period,” the Vice President continued.
The rapid development of Indonesia's Islamic economy and finance in the last 5 years, Indonesia has continued to improve its ranking at the global level from the 10th position to the 3rd position in the SGIE (State of the Global Islamic Economy) report. Indonesia also managed to maintain the 2nd position in the halal food sector and the 3rd position in the Muslim fashion sector. Even in 2024, Indonesia managed to achieve the first rank in the Global Muslim Travel Index (GMTI).
“The rapid development of Islamic finance can be seen from the increasing variety of sharia-based financial products that can be enjoyed by the public, such as sharia bonds, sharia insurance, and even sharia-based business financing,” the Vice President concluded.
