Minister: Indonesia could become Major Player in Sharia Economy
25 July 2018 13:08 WIB
TEMPO.CO, Jakarta - Economic Affairs Coordinating Minister Darmin Nasution suggested that Indonesia with the world’s 12.7 percent Muslim population, has the potential to become a key player in the development of the world’s sharia economy.
“But it turns out that Indonesia is not a key player and are still consumers despite the large global potential,” said Coordinating Minister Darmin Nasution while opening the High Level Discussion at the National Development Planning Agency headquarters today.
He also mentioned that Indonesia’s potential is not only seen in its large Muslim population, but also the numerous activities within the real and financial sector such as the sharia industry. Indonesia was able to contribute 12 percent of the world’s Muslim expenses in 2016 and is predicted to increase from USD2.1 trillion to USD3 trillion in 2022.
“Indonesia is included in the top five largest consumers of cosmetics, medicines, and Muslim-wear. But we are not in the top five exporter countries,” said Darmin
Nasution.
Indonesia’s sharia financial industry managed to improve and ranked ninth in 2016 and seventh in 2017. The country’s sharia financial asset at the period was recorded to be USD81.8 billion from USD47.6 in 2016.
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