BI Encourages Sharia Banking to be Innovative
31 March 2015 19:58 WIB
TEMPO.CO, Jakarta - Sharia financial development in the past 10 years have shown an increasing trend. According to Bank Indonesia Deputy Governor Balim Alamsyah,, financial industry has a potential to develop if market players can create innovative products.
For that, Bank Indonesia, as the regulator, will keep going forward with its financial inclusion mission. "That's why financial inclusion is important. Bank Indonesia will be the main driver [of financial inclusion development]," said Halim on Tuesday, March 31, 2015.
Halim added that through the financial inclusion mission, the central bank will keep expanding public access to financial institutions.
In the last 10 years, sharia finance has grown 17.3 percent a year on a global scale, two times higher than the growth of conventional financial institutions.
ISFB secretary-general Hasim Ahmed said that Indonesia is one of the countries that encourages development of sharia finance. One of its achievements is implementation of sukuk (sharia bonds) to help financing. "Indonesia is successful in integrating sharia financial system," said Hasim.
ADITYA BUDIMAN