President Jokowi Applauds Sharia Economic Brand Launching

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 25 Januari 2021
Category: News
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President Jokowi accompanied by Vice President Ma’ruf Amin at the launching of the National Cash Waqf Movement and Sharia Economic Brand for 2021, Monday (25/1). (Photo: PR/Rahmat)

Sharia economy has great potential that can be further developed not only by countries with largest Muslim populations, including Indonesia, but also by other countries such as Japan, Thailand, the United Kingdom, and the United States, according to President Joko “Jokowi” Widodo.

“We must seize this great opportunity by supporting the acceleration of national sharia economy and finance. We must also prepare to become a model for global sharia economy,” President Jokowi said at the launching of the National Cash Waqf Movement and Sharia Economic Brand for 2021, at the State Palace, Jakarta, on Monday (25/1).

The President acknowledged that there are many things to be improved in that sector, including through management of halal value in real sectors that will support the Micro, Small, and Medium-sized Enterprises, and through development of creative economy.

“We are strengthening sharia financial industry by building the biggest sharia bank in Indonesia. We are also developing Micro Waqf Bank in various regions and strengthening agencies for zakat (mandatory tithes), infaq (voluntary charity to a group of people), and sadaqah (alms), as well as agencies for waqf, in order to empower people’s economy,” he said.

On the other hand, sharia economic and financial literacy rate in Indonesia is still low at 16.2 percent. Therefore, the launching of Sharia Economic Brand which is aimed at increasing people’s awareness to sharia economy and finance is highly appreciated by the President.

For the record, Sharia Economic Brand is also aimed at increasing literacy, education, and dissemination of sharia economy and finance to the public, so they can improve their knowledge, skills, and confidence in sharia economy.

In the meantime, Minister of Finance as the Secretary of Sharia Economy and Finance National Committee affirmed that the launching of Sharia Economic Brand initiated by the Committee would be an effort to develop Indonesia’s sharia economy and finance.

“All ministries, institutions, and stakeholders in the field of sharia economy and finance may use the Sharia Economic Brand on their products, programs, activities, and campaigns,” she added. (FID/UN) (RAS/LW)

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