FSA: Sharia Finance Flourishes More Rapidly Than Conventional One

Jakarta, 27 Muharram 1438/28 October 2016 (MINA) – Islamic finance sector has been flourishing more significantly than conventional one in the country today, Member of the Financial Service Authority (FSA) Commissioner Board Ilya Avianti said.

“This development can be seen from two sides. Firstly the number of Islamic banks has amounted to 12, secondly the number of bank with sharia orientation has reached 20,” said Ilya in her opening speech at the International Islamic Expo 2016 at Jakarta Convention Center (JCC), Jakarta, Friday (28/10).

“Islamic finance industry is the main product of sharia economy. We find a lot of Islamic products, such as sharia travel, halal food, Islamic fashion, and so forth, ” she said.

According to Ilya, these positive developments influence people’s life which is increasingly aware of the importance of life in the Islamic financial sphere, given Indonesia is a predominantly Muslim country.

“We are confident with the cooperation of all the elements, sharia economy will be increasingly perceived by society,” she said.

She noted that the increasing urgency of sharia economy in Indonesia is characterized by the formation of the National Islamic Finance Committee (KKSN) chaired by the President of Indonesia Joko Widodo (Jokowi).

She hoped that the future of Islamic financial to continue to show consistent progress so that it can contribute fully to improve people’s welfare. (L/P008/R07)

Mi’raj Islamic News Agency (MINA)