No.23/283/DKom
Indonesia
has ranked first on the Islamic Finance Country Index (IFCI) as contained in
the Global Islamic Finance Report 2021. The proud achievement shows that
Indonesia has the most dynamic Islamic social finance sector in the world,
which is expected to support ongoing development of the sharia finance industry
in Indonesia as part of the global economic plan to bolster the post-pandemic
economic recovery. That was the main
takeaway of BI Deputy Governor, Dody Budi Waluyo, at the virtual international
seminar of the Cambridge Institute of Islamic Finance (IFA), entitled “Role
of Islamic Finance in Post-Pandemic World” on 29th October 2021,
namely the fifth day of the 8th Indonesia Shari’a Economic Festival
(ISEF).
IFCI
is an index for ranking different countries with respect to the state of
Islamic banking and finance (IsBF) and its relative importance in the national
and international context. Bank
Indonesia constantly strives to develop the Islamic social finance industry, as
well as support the advancement of FinTech and green finance towards
achievement of the Sustainable Development Goals (SDGs). Full support of the
President, government institutions, Ministry of Finance, Bank Indonesia and
Financial Services Authority (OJK) also plays an important role in promoting
the sharia capital market in Indonesia.
To that end, the National Islamic Economy and Finance Committee (KNEKS)
discharges a crucial function in promoting Islamic banking and finance in the
global Islamic financial services industry.
At
the International Waqf Seminar entitled “Strengthening Islamic Commercial and
Social Finance as well as Cross-Border Synergy and Digital Innovation to
Optimise Waqf,” as part of ISEF 2021, Bank Indonesia Deputy Governor, Sugeng, explained
that Indonesia has massive waqf assets and potential, totalling Rp2,000
trillion and Rp180 trillion respectively, with the largest Muslim population
globally. Through effective and innovative management, therefore, productive
waqf will increase efficiency, accelerate economic development and ameliorate
public welfare. Sugeng added that the role of waqf as an integral part of the
sharia economy and finance is critical in the new normal era, with a unique
position to help restore and build confidence in economic development as one of
the planned contributions of the sharia economy and finance.
ISEF
2021 remains ongoing, with the closing ceremony to be held on 30th
October 2021. The hybrid event was
organised by Bank Indonesia, the National Islamic Economy and Finance Committee
(KNEKS) and several strategic partners in the sharia economy and finance.
Jakarta, 29th October 2021
Head
of Communication Department Group
Muhamad
Nur
Director
Information about Bank Indonesia
Tel. 021-131, Email: bicara@bi.go.id
