Shariah Economy and Finance Vital for Indonesia’s Recovery: Bank Indonesia

Crucial to Indonesia’s turnaround is the role played by the Shariah Economy and Finance sector, which has contributed greatly to the national economic recovery from the impacts caused by the COVID-19 pandemic.

Solikin M Juhro, Head of the Bank Indonesia Institute, stated that in the wake of a pandemic such as the coronavirus, all countries should optimise their full potential to overcome challenges. As such, Indonesia’s economic recovery must also look towards using all its available resources to overcome the pandemic, including its strengths in the Shariah-compliant industry.

In particular, Juhro noted that the social financial instruments prevalent in the Islamic fina...