No.28/223/DKom
The development of Islamic economy and finance requires high-quality research to generate evidence-based policy recommendations and practical solutions. Strong research support is expected to enhance the contribution of Islamic economy and finance to productivity gains, industry development, job creation, and more equitable prosperity. This was conveyed by Bank Indonesia Deputy Governor Solikin M. Juhro at the opening of the 12th International Islamic Monetary Economics and Finance Conference and Call for Papers (IIMEFC) in Jakarta (13/10). The conference, held as part of the 13th Indonesia Sharia Economic Festival (ISEF), addressed the theme of strengthening Islamic economic and financial policies for inclusive growth, innovation, and industry development, and brought together academics, practitioners, and other stakeholders in Islamic economy and finance.
Solikin emphasised that realising the full potential of Islamic economy and finance requires an integrated ecosystem and coordination among authorities in formulating monetary, fiscal, financial sector, and Islamic social finance policies. In this regard, research plays a critical role in identifying effective policy options, anticipating potential trade-offs, and developing actionable recommendations. “The value of research lies not only in what it explains, but also in how it improves decisions and policy outcomes," Solikin stated.
As part of its support for research development, Bank Indonesia, through the Bank Indonesia Institute, publishes the Journal of Islamic Monetary Economics and Finance (JIMF). Indexed in Scopus, the journal provides a platform for advancing high-quality research on Islamic economy and finance that is relevant to policymaking.
Indonesia continues to have substantial potential to further develop Islamic economy and finance. As of June 2026, Islamic financial assets reached approximately IDR 3,264 trillion, growing by nearly 10%. This potential needs to be harnessed to expand Islamic financing for productive businesses, strengthen industrial competitiveness, and create more employment opportunities. Enhancing this contribution also requires innovation and stronger linkages among Islamic banking, Islamic money and capital markets, financial technology, supply chain financing, and Islamic social finance. Research is essential to identifying development opportunities, evaluating policy effectiveness, and formulating practical solutions to unlock this potential in a productive and sustainable manner.
IIMEFC continued with a panel discussion featuring Professor Mohd Ma'sum Billah of King Abdulaziz University, Saudi Arabia; Professor Mohamed Shaban of the University of Leicester, United Kingdom; and Dadang Muljawan, Head of the Islamic Economic and Finance Department at Bank Indonesia. The discussion was moderated by Professor Mansor H. Ibrahim of INCEIF University, Malaysia, who also serves as Managing Editor of JIMF. The panel explored Islamic economic and financial policies, innovation, and industry development to expand financing access and enhance productivity.
This year, IIMEFC's International Call for Papers received 538 submissions from 49 countries, up from 348 submissions from 37 countries in 2025. The programme also included the 2026 JIMF Editorial Board Meeting, which discussed strengthening the role of research in policymaking and enhancing international collaboration. Through continued support for research, Bank Indonesia remains committed to advancing Islamic economy and finance to make a more meaningful contribution to inclusive and sustainable economic growth.
Visit ISEF 2026 from 14–18 October 2026 at the Jakarta International Convention Center (JICC), Jakarta, to explore developments in Islamic economy and finance, including innovation, financing for productive businesses, and the growth of the halal industry. Further information is available at www.isef.co.id.
Jakarta, 15 October 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
