Jakarta, CNBC Indonesia – Vice President (Wapres) KH. Ma’ruf Amin encouraged the growth and contribution of the Islamic sharia economy to be specifically recorded in Sharia Gross Domestic Income (GDP).
Ma’ruf, who also serves as Daily Chair of the National Sharia Economic and Financial Committee (KNEKS), added that this aims to simplify calculations of the contribution of sharia economic results to the Indonesian economy.
“Concrete the growth and contribution of the sharia economy in the form of measurable Sharia GDP and become part of the National GDP calculation,” said Ma’ruf Amin when opening the Indonesia Sharia Economic Festival (ISEF) series in Jakarta, Thursday, (26/10/2023).
It is known, based on data from the Financial Services Authority (OJK), overall growth in Indonesia’s sharia financial assets has reached IDR 2,450.55 trillion or around US$ 163.09 billion as of June 2023. This figure shows growth of 13.37% (yoy) with a market share of 10.94% of total national finances.
Meanwhile, as of June 2023, the sharia banking market share in Indonesia has grown to 7.31% of the total national banking industry. This growth was supported by 13 sharia commercial banks, 20 sharia business units, and 171 BPRS with an asset portion distribution of 65.78% for sharia commercial banks, 31.68% for sharia business units, and BPRS at 2.54%.
From the sharia capital market sector, in August 2023, the market share of corporate sukuk, government sukuk and sharia mutual fund products will reach 12.7%. Meanwhile, the sharia stock market share has reached 56% of all shares listed on the Indonesian stock exchange.
Indonesia has also received an international award 4 times in a row as The Best Islamic Capital Market given by the Global Islamic Financial Award (GIFA) from 2019 to 2022.
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Originally posted 2023-10-26 10:45:53.