Ma'ruf Amin: Shariah Economic Development In Indonesia Needs Hard Work

Representative Presiden Ma'ruf Amin (Photo: Twitter @Kiyai_MarufAmin)

JAKARTA - Vice President Ma'ruf Amin said that the development of the Islamic economy and finance requires hard work because the index of Islamic financial literacy and inclusion in Indonesia is still low, which is below 10 percent.

"The index reflects that we need to work hard to improve public understanding of the development of the economy and sharia finance in the country," said Ma'ruf Amin while delivering a speech at the Islamic New Year celebration held by LinkAja virtually from Jakarta, reported by Antara, Tuesday, August 25th.

Referring to data from the Financial Services Authority (OJK), Ma'ruf said the level of Islamic financial literacy had only reached 8.93 percent and the Islamic financial inclusion index of 9.1 percent. This figure is quite low considering that Indonesia is a country with the largest Muslim majority population in the world.

To increase the capacity and number of users of Islamic financial services, Ma'ruf Amin asked all sharia financial service providers to expand their services by taking advantage of technological developments.

"The low index gives us the opportunity to expand Islamic financial services, especially using digital technology to all levels of Indonesian society," he said.

The government has also issued regulations that can encourage the development of sharia economics and finance in Indonesia, through Presidential Regulation Number 28 of 2020 concerning the National Committee and Sharia Economics and Finance (KNEKS).

The duties and functions of the KNEKS are becoming increasingly broad by not only prioritizing increasing Islamic financial assets, but also encouraging the real sector of the halal industry, said Ma'ruf.

Therefore, with the largest Muslim population potential and supported by technology-based sharia financial services and regulations; Ma'ruf hopes that Indonesia can become a reference for the halal industry and Islamic finance for other countries.

"We aspire that Indonesia can become a center for Islamic finance and a world-class halal industry," said Ma'ruf.