Islamic Finance Vital for Indonesia’s Economic Stability: Finance Minister 

Islamic finance is key for creating economic stability amid the COVID-19 pandemic, according to Sri Mulyani Indrawati, Finance Minister of Indonesia, who was speaking at the Annual Islamic Finance Conference held in Jakarta on the 25th of August 2021.

Why it Matters?

Islamic finance is one of the fastest growing sectors in the global financial industry, and has grown ahead of conventional financing in the past decade. Growing Islamic finance, coupled with technology has contributed to economic stability. According to Indrawati, Indonesia is currently one of main contributors to the international Sukuk market, accounting for 23.11% of outstanding global Sukuk, or a total of USD 23.65 billion. As of June 2021, the total assets of Islamic fintech in Ind...