VP Ma’ruf Amin: Menara Syariah to Become Southeast Asia’s Largest Islamic Finance Hub

ice President Ma’ruf Amin inaugurates the topping-off ceremony of the Sharia Tower (Menara Syariah), in Tangerang regency, Banten, Tuesday (08/23). (Photo by: BPMI of Vice Presidential Secretariat)

The Sharia Tower (Menara Syariah) was built to become the largest Islamic Finance Hub in Southeast Asia and plays a pivotal role in the global Islamic finance industry, Vice President Ma’ruf Amin has said.

According to him, Menara Syariah symbolizes hope and aspiration of making Indonesia a major player in the global Islamic finance sector.

“I hope the construction can be completed on time and it can well-function and serve as the center for economic activities for Islamic finance industry players and other Islamic business players,” the Vice President said during the inauguration of the topping-off ceremony of Menara Syariah, at Pantai Indah Kapuk 2, Tangerang regency, Banten, Tuesday (08/23).

On that occasion, Ma’ruf also expressed hope that sharia economic and finance stakeholders, such as the National Committee on Sharia Economics and Finance (KNEKS), the Indonesian Islamic Economic Expert Association (IAEI), and the Sharia Economic Community (MES) can make use of the existence of the tower, especially as a center for economic development and sharia finance in the country.

“Office buildings, retail facilities, and various available facilities can be used as a place for businesses, commercial purposes, and even recreation. Of course, the tower will provide new jobs, improve investment climate, and drive halal industry activities, as well as sharia business and entrepreneurship,” he said.

The Vice President went on to say that Indonesia is now internationally recognized to become the next main driver of sharia economic growth and innovation as quoted from State of the Global Islamic Economy Report 2022.

“We have demographic potentials, namely the world’s largest Muslim population. However, the assessment cannot be separated from various achievements and strategic measures that the Government has taken and achieved, including the establishment of KNEKS, management of hajj funds, as well as support for technology-based Islamic financial services, sharia insurance, and asset management. In fact, Indonesia is now the largest sukuk issuer in the world,” he said.

The Vice President added the Indonesian people should also be grateful since the Islamic finance industry is also part of the country’s post-pandemic economic recovery efforts.

“These various factors provide a positive atmosphere and generate confidence and hope that the Indonesian Islamic financial services industry will develop more rapidly, both at the domestic and global levels,” he added.

Ma’ruf also underscored that the development of the Islamic financial services industry is the result of the Government’s high commitment, synergy between ministries and institutions, and support from regulators, as well as active participation of industry players and the business sector.

“Menara Syariah, which we will witness the inauguration of the topping-off ceremony today, is a tangible manifestation of the business sector contributions, namely through the provision of infrastructure in the form of an international sharia financial center area,” he said.

For the record, Menara Syariah was built from the cooperation of Agung Sedayu Group, Salim Group, Matrix Concepts Holding Berhad Malaysia, PT Fin Centerindo Satu, as well as other domestic and foreign investors. (BPMI of Vice Presidential Secretariat/UN) (RIF/EP)

Visit the official website of Vice Presidential Secretariat via this link.