Sharia Financial Growth Predicted to Be Better In 2018

Jakarta, MINA – Sharia economy researcher at the SEBI School Of Islamic Economics And Banking Institute Aziz Setiawan has predicted that Islamic finance growth will be better, especially in 2018 after the previous trend seems to be slowing.

According to him, after slowing in 2015 to 2017, the trend of Islamic finance began to show toward improvement.

“Based on data from the Financial Services Authority (OJK), the growth of sharia financial assets in 2017 has reached over 20 percent for the year on year,” Aziz told on Monday. Republika reported.

Aziz continued, Islamic finance is growing by their respective proportions. For sharia banking at 37 percent, sharia non-bank financial industry (IKNB) of 9.51 percent, and sharia capital market of 52.73 percent.

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In addition, Aziz said the total assets of Indonesia’s sharia finance has now reached a thousand trillion rupiah. “Currently, Indonesia is the country with the ninth largest Islamic financial assets in the world, but Malaysia is ranked better than Indonesia in the third place in the world,” said Aziz.

Aziz believes, for this year, the development of Islamic finance in general will increase along with the expected economic growth is also better. Economic growth is projected to be 5.2 to 5.3 percent and higher than 2017 which is still under 5.1 percent.

“A more conducive economic condition will boost demand for the sharia financial sector as well,” Aziz said. (LP/P2/RS5)

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Mi’raj News Agency (MINA)