Vice President Ma'ruf Amin Says There Are 4 Strategies To Develop Sharia Banking Industry

Indonesian Vice President Ma'ruf Amin. (Photo: Doc. Antara)

JAKARTA - Vice President (Vice President) Ma'ruf Amin said there are four strategies to develop the Islamic banking industry so that it will be much bigger in the future.

First, by increasing the resilience and competitiveness of the Islamic banking industry.

"The quality of governance and risk management to build the resilience of the national Islamic banking industry must be prioritized," said the Vice President when giving a speech at the "Silaturahmi Association of Indonesian Sharia Banks (Asbisindo)" at the Head Office of Bank Syariah Indonesia (BSI), Jakarta, quoted from Antara, Monday, May 13.

The Vice President asked for the innovation of Islamic banking products and services that highlight the uniqueness and differentiation developed, so that people feel the benefits and advantages.

"Explore consolidation opportunities between sharia business units to strengthen competitiveness and make more significant contributions," said the Vice President.

Second, he asked for an increase in the capacity and quality of human resources (HR) for Islamic banking and the acceleration of digitalization of Islamic banking.

The Vice President assessed that human resources and technology are part of the absolute prerequisite for strengthening the Islamic banking industry. For this reason, he said, the acceleration of the implementation of digitalization in business processes and continues to be adaptive to technological developments.

"Increasing capacity and quality must cover all levels of human resources, ranging from technical and operational, managerial to sharia banking supervisors," he said.

Furthermore, third, increase the contribution of Islamic banking in the national economy.

The Vice President hopes that there will be an increase in access to sharia financing for micro, small and medium enterprises (MSMEs) to encourage the creation of inclusive and sustainable economic development.

"Prompt the innovation of sharia products and services according to the characteristics and needs of MSME actors," he said.

In addition, said the Vice President, increasing the role and contribution of sustainable project financing, including the sharia government and business entity cooperation scheme (KPBU).

Finally, strengthen synergy and collaboration in increasing Islamic financial literacy and inclusion.

The Vice President emphasized that Islamic banking can be a driver of active synergy and collaboration in the halal industry sector and Islamic social finance.

Therefore, it is necessary to support the implementation of national sharia banking development, in accordance with the roadmap guidelines provided by financial authority institutions.

"In addition, an effective, innovative, and sustainable public communication strategy is needed to accelerate the increase in literacy and inclusion," said the Vice President.