INDONESIAN BANKING INDUSTRY IN GOOD CONDITIO0N: JOKOWI

Indonesian President Joko "Jokowi" Widodo — Indonesian President Joko “Jokowi” Widodo

Jakarta, 27 Dhulqo’dah 1436/10 September 2015 (MINA) – Indonesian President Joko Widodo (Jokowi) said that the condition of the countrys banking industry is fairly good despite the economic slowdown.
“Before I entered this room I talked with a number of bank leaders,”

Jokowi said when opening the Indonesia Banking Expo (Ibex) 2015 at the Jakarta Convention Center (JCC) on Wednesday. Antaranews quoted by Mi’raj Islamic News Agency (MINA) as reporting.

He said the bankers ensured him that there is no serious problem in non performing loan as well as in credit growth.

“I asked them to say outright the real condition of our banking industry and they told me that I need not worry,” the president said.

He said bank credits grew 15-16 percent, lower than normal growth of more than 210 percent per year.

There is also profit though smaller , he added.

The country has recorded a slowdown with the economy growing only 4.7 percent in the first half of the year down from more than 5 percent in the same period last year.

The president said the countrys banking industry has yet to expand its financing coverage to reach isolated areas and islands.

“Our financial inclusion level is still low with only 54 percent of the countrys population having access to official financial agencies,” he said. (T/P008/R03)

Mi’raj Islamic News Agency (MINA)