President Jokowi Supports Sharia Economic Development

Jakarta, 9 Shafar 1438/9 November 2016 (MINA) – Indonesian President Joko Widodo, popularly known as Jokowi, has said Indonesia as the most populous Muslim country has great  potential to develop sharia (Islamic) economy in the world.

“With the great Moslem population, we have to be able to develop our Islamic economy well,” the president said in his speech at the 8th National Congress of Indonesian Islamic Propagation Institution (LDII) at Balai Kartini, Jakarta, Wednesday.

According to the President, the value of Indonesian sharia economy is relatively small compared with other Southeast Asian countries, such as Malaysia.

“Indonesia’s sharia economy has been growing at five percent, while other Moslem countries in South East Asia region, Malaysia is expanding at 30-35 percent,” said President Jokowi.

“We only have 12 Islamic banks. The value of issuance of sukuk or sharia-compliant securities just amount to Rp132 trillion, it’s still small,” the president said.

President Jokowi said opportunities to develop Islamic finance is still promising in Indonesia, including sharia banking, sharia insurance, halal tourism and halal culinary. (LP/R03/R07)

Mi’raj Islamic News Agency (MINA)