Remarks of President of the Republic of Indonesia at the Inauguration of the Indonesia Islamic Financial Center, at the Danareksa Tower, Jakarta Special Capital Region, September 17, 2024

Bismillahirrahmanirrahim.

Assalamu’alaikum warahmatullahi wabarakatuh.

Distinguished Coordinating Minister for Economic Affairs, Minister of State-Owned Enterprises, Minister of Youth and Sports, Deputy Minister of State-Owned Enterprises;

Distinguished Acting Governor of Jakarta Special Capital Region, along with all of the Board of Directors and the Board of Commissioners of State-Owned Enterprises;

Distinguished Ladies and Gentlemen.

We know that our country Indonesia is home to a Muslim population of 236 million. This is a big market and huge potential that we must take into account so that this opportunity will not escape to other countries. 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. Secondly, we must prepare professional players in our halal industry.

And, if we look at the statistics, we can see that sharia financial industry is growing higher than 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.

For that reason, 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, and also grow and serve as the barometer for sharia banking in Indonesia, in the ASEAN region, and also in the world.

Therefore, I welcome the presence of the Indonesia Islamic Financial Center (IIFC). As has been stated earlier by the Minister of State-Owned Enterprises, the presence of a regional platform will contribute later to the development of our sharia economy and will support halal industry, Muslim fashion industry, halal tourism industry, and halal food and beverage industry. Those all will be supported, so that the existing potential will not escape to other regions or other countries.

That concludes my remarks on this auspicious occasion. And by saying bismillahirrahmanirrahim, this morning I inaugurate the Indonesia Islamic Financial Center in Jakarta.

I thank you.

Wassalamu’alaikum warahmatullahi wabarakatuh.

(TM/MUR)