REPUBLIKA.CO.ID, JAKARTA - In the latest 2019 Global Islamic Finance Report (GIFR), Indonesia managed to record a score of 81.93 on the 2019 Islamic Finance Country Index (IFCI). As for this high score, Indonesia is ranked first in the financial market global sharia.
Certainly a proud achievement, considering that last year Indonesia was ranked sixth. According to an observer of sharia economics from the SEBI School of Islamic Economics, Azis Budi Setiawan, this achievement shows the results of improvements from government policies such as the establishment of the National Sharia Finance Committee (KNKS) and the launch of the Indonesian Sharia Economics Master Plan.
"I think this is going well and the sharia financial economic ecosystem is getting better because the sharia social sectors are also starting to consolidate better and positively, such as Baznas, the development of the Indonesian Waqf Board. It is hoped that other indexes can follow, we are waiting for the next good rating, "he said when contacted by Republika.co.id, Sunday (20/10).
However, according to him, the acceleration of the sharia financial ecosystem and the sharia economy has not been accelerated significantly. This can be seen from the context of the growth of Islamic banking which is still around six percent, which means that it is far from the Muslim population in Indonesia.
"The number of Islamic banking account holders is still 20 million to 25 million, even though the existing accounts in the banking sector are 230 million. So this portion is below 10 percent there is still a large Muslim population and needs how to be properly included in the system, "he said.
In the future, it is hoped that related institutions such as the Financial Services Authority (OJK), Bank Indonesia and the role of religious leaders can encourage public understanding of the Islamic financial ecosystem. This step is important at the same time encouraging the business sector so that capital can use Islamic banking.
"Intensively to be involved in the development of the Islamic economy. Moreover, now the implementation of halal product guarantees has begun to move in the business sector and then ensures halal certification, so that it will trigger a chain of support processes, "he said.