Indonesia’s Vice President Ma’ruf Amin Pushes for Development of Housing Finance

Data from Indonesia’s Central Statistics Agency 2019 showed that 80.07% of families own a house in the country, with 20% currently estimated to not have a home.

Given that people were demanding their own home and are now starting to show interest in Islamic financing, Indonesia’s Vice President has encouraged mortgage lending banks (KPR) to offer Shariah-financing solutions.

Speaking at a virtual focus group discussion titled ‘Encouraging National Economic Recovery through the Housing Sector’, Amin advised KPR channelling banks to take advantage of the situation and penetrate these markets by cooperating in the provision of housing loans.

Amin also suggested that these KPR channelling banks provide loans to workers in the informal sec...