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Indonesia keen to harness untapped sharia economic potential 23rd February 2021
Screenshot - Bank Syariah Indonesia (BSI) President Director Hery Gunardi while addressing the opening of Indonesia Stock Exchange (BEII) trade and introducing PT Bank Syariah Indonesia Tbk in Jakarta on February 4, 2021. ANTARA/Citro Atmoko/am. Indonesia, with the world s largest Muslim population, constituting almost 90 percent of its 271 million people, has yet to unlock the vast, untapped potential of the sharia economy.
It is grim reality that Indonesia continues to trail behind other countries, both Muslim majority and non-Muslim majority nations, in terms of sharia economic development.
Malaysia led the Global Islamic Economy Indicator in 2019, with a score of 111 points, while Indonesia ranked fifth, with 49 points.
JAKARTA, Feb 2 (Xinhua): Indonesian President Joko Widodo has launched Bank Syariah Indonesia (BSI), the country s largest sharia bank.
The bank is the result of the merger of three state-owned Islamic banks - PT Bank BRIsyariah Tbk, PT Bank Syariah Mandiri, and PT Bank BNI Syariah.
The president expected the merger would support Indonesia s goal to become the Islamic financial hub. He also hoped the bank to be inclusive and digital-savvy to attract youth and expand banking penetration.
The President said there were still much space to optimise sharia economy and finance in Indonesia.
“We strengthen the sharia financial industry by building one of the largest sharia banks in Indonesia. We have set a target and inshallah in February we will complete it,” said the President earlier during the press conference on Jan 25 in Jkarta.