Sharia Finance's Growth Impresses Bank Indonesia  

TEMPO.CO, Jakarta - Deputy Governor of Bank Indonesia, Halim Alamsyah, expressed optimism that Sharia finance industry will increase in the coming years. “Globally, the growth rate reached 17.3 percent last year," said Halim “The number is twice the rate of conventional finance growth.”

As for global sharia assets, Halim estimated that the number reached US$2 trillion or Rp26 gazillion. In Indonesia, he believes that Sharia finance industry can grow even higher as the majority of its people are Islam.

Halim added that Bank Indonesia will continue to expand public access to financial institute by performing financial inclusion. As a chairman at the annual meeting of the Islamic Financial Services Board (IFSB), central bank brought the mission and encouraged all Sharia financial institutes to make use of the meeting.

Secretary General of ISFB, Jasim Ahmed, said that Indonesia is a nation that endorses Sharia finance development. Jasim also said that Sharia finance is expected to not only provide resolution to poverty, but also to develop its supporting instruments. Emphasizing on “no debt principle” such as in conventional finance, he believes that public will share more interest in Sharia finance potential.

ADITYA BUDIMAN | ODELIA SINAGA