Total Assets of Indonesia’s Islamic Financial Institutions Reach USD 132.7 Billion by September 2021

The Financial Services Authority (OJK) in Indonesia stated that with a 17.3% growth year on year (YoY), the value of the total assets of Indonesia’s Islamic financial institutions reached IDR 1,901.1 trillion (USD 132.7 billion) by September 2021.

Why it Matters?

In an official statement, Wimboh Santoso, Chairman of the OJK Board of Commissioners said that Islamic banking has successfully endured the disruptions caused by the COVID-19 pandemic with a Capital Adequacy Ratio (CAR) of 23.2% and stable financing risk with a gross Non-Performing Financing of 3.2%. Following the favorable performance, OJK is collaborating with the Dubai Financial Services Authority (DFSA) in the fields of Islamic finance, Halal industry and sustainable finance, fintech...