President Jokowi Inaugurates Indonesia Islamic Financial Center in Jakarta

President Joko Widodo delivers his remarks and inaugurates the Indonesia Islamic Financial Center, Tuesday (09/17) at the Danareksa Tower, Jakarta. (Photo by: Public Relations of Cabinet Secretariat /Rahmat)

President Joko “Jokowi” Widodo inaugurated the Indonesia Islamic Financial Center (IIFC), Tuesday (09/17) at the Danareksa Tower, Jakarta.

In his remarks, the President emphasized the importance of developing a sharia economic ecosystem in Indonesia to leverage the huge potential of the Muslim market in the country with a Muslim population of 236 million people.

“Indonesia has the opportunity and the potential to become the global hub of halal industry and halal ecosystem, provided that we must strengthen our sharia economic ecosystem,” said the President in his remarks.

He also emphasized the urgency of preparing professional players in Indonesia’s halal industry, highlighting that Indonesia’s sharia financial industry showed higher growth compared to that of the national banking industry.

“Let’s take a look at their assets. Sharia banks’ assets grew by 9.07 percent while national banks’ assets grew by 8.9 percent, meaning that sharia banks’ assets grew higher. Then, let’s take a look at the third-party funds invested in both kinds of banks. The third-party funds invested in sharia banks grew by 10.41 percent while those invested in national banks grew by 8.43 percent,” he added.

The President stressed the importance of professionalism and modernization of management in sharia banks in order to compete in the domestic and international markets, so that they can grow and serve as the barometer for sharia banking in Indonesia, in the ASEAN region, and also in the world.

“Bank Syariah Indonesia (BSI) as an important part of the sharia economic ecosystem must grow, must have modern management, must be competitive and professional to reach the potential markets that we have, our 236 million Muslim population,” he continued.

Furthermore, the IIFC is expected to support the development of the sharia economy and to support various halal industry sectors, especially Muslim fashion industry, halal tourism industry, and halal food and beverage industry. The President welcomed the presence of the IIFC as it will integrate various industrial sectors and prevent Indonesia’s economic potential from escaping to other countries.

“And on this auspicious occasion and by saying bismillahirrahmanirrahim, this morning I inaugurate the Indonesia Islamic Financial Center in Jakarta,” the President remarked. (FID/ABD) (TM/MUR)