Significant Improvements Underway in Four Areas of Indonesia’s Islamic Economics and Finance Sector: Vice President

Based on Presidential Decree Number 28 of 2020 concerning the National Islamic Finance Committee (KNEKS), the Vice President of Indonesia, Ma'ruf Amin, announced significant improvements in the country’s Islamic economics and finance sector. The key areas targeted for improvement are, the Halal product industry, the Islamic financial industry, Islamic social funds and the development as well as the growth of Shariah businesses.

Why it matters?

Under the decree, Halal industrial estates and Halal zones in existing industrial estates were established to build the Halal product industry in the country. The merger of three state-owned banks was implemented to develop the Islamic financial industry with expectation for regional gover...