OJK Calls on Sharia Industry to Grease Economy

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  • Bank mandiri Syariah. TEMPO/Eko Siswono Toyudho

    Bank mandiri Syariah. TEMPO/Eko Siswono Toyudho

    TEMPO.CO, Jakarta - The Financial Services Authority (OJK) hopes that the Islamic financial industry can help grease the wheels of economic growth, particularly amidst Indonesia's slowing economy.

    "The sharia financial services industry should be able to take advantage of the dynamics of the domestic economy, and take on a greater role in national development," OJK deputy for Islamic banking supervision Mulya E. Siregar said in Jakarta today.

    Mulya said that the sharia financial industry has expanded exponentially over the past two decades. According to the OJK's data, as of the end of December 2014, the industry had 12 sharia banks, 22 sharia business units owned by conventional banks, and 163 sharia people's credit banks (BPR-Syariah). The industry's total assets per said period amounted to Rp272.34 trillion.

    Mulya lamented on how most Indonesians still lack the necessary knowledge about the Islamic finance industry.

    To raise people's awareness and understanding of the industry, the regulator has planned a number of strategic programs. One of them is to hold an Islamic financial campaign dubbed 'Aku Cinta Keuangan Syariah' or 'I Love Sharia Finance', which includes a series of activities including a public sharia market, sharia CEO gatherings, roadshows and campus seminars as well as business matching & community gathering events.