Indonesia's Share of Global Sukuk Issuance Reaches 23.11%: Sri Mulyani Indrawati, Finance Minister

According to Sri Mulyani Indrawati, Finance Minister of Indonesia, the country has a 23.11% share of the global Shariah bonds market, as it has issued a total of USD 23.7 billion worth of the Islamic bonds (Sukuk).

Why it Matters?

The Government has been aggressively issuing Sukuk in recent years, and they have proven to be quite resistant to the negative economic impacts of the COVID-19 pandemic. According to the minister, Shariah-compliant financial firms have remained strong throughout the pandemic, as seen by continued expansion in Shariah-compliant bank financing and low levels of non-performing loans. She also added that the fast-growing Muslim population across the world is the main reason for the increasing demand for Shariah-compliant financial pr...