Indonesian President Urges Development of the Islamic Economy and Finance Sector

The Indonesian Islamic economy and finance industry has great potential to be developed, according to Joko Widodo, Indonesian President. Speaking at the official virtual inauguration ceremony of the seventh Indonesia Shariah Economic Festival (ISEF) in 2020, hosted by Bank Indonesia (BI) on the 28th of October 2020, Widodo urged that concrete steps must be determined and implemented to develop the industry.

According to local media reports, Widodo stated that the ISEF 2020 can build the momentum to create a clear and detailed road map to boost economic development and the Islamic finance industry in Indonesia. Widodo noted that the industry’s potential to be developed was driven by demand in Muslim-majority countri...