PREMIUMIndonesia’s sharia finance gains traction amid pandemic: OJK

first_imgLog in with your social account Facebook Indonesia’s Islamic finance has gained traction amid the coronavirus pandemic as the industry’s assets rose significantly and sharia banks recorded a jump in corporate profit, signaling a growing industry previously plagued with low demand.The assets of the country’s sharia finance industry reached Rp 1.639 quadrillion (US$111.1 billion) as of July this year, an increase of 20.6 percent compared to the same period last year, according to the Financial Services Authority (OJK), with the industry’s market share now at 9.68 percent of the Indonesian financial industry.“This reflects how sharia finance has a remarkable resilience and a great spirit to support the acceleration of the national economic recovery,” OJK chairman Wimboh Santoso told a virtual discussion on Monday. “We should use this pandemic as an opportunity to revive sharia econ… LOG INDon’t have an account? Register here Forgot Password ? Google Topics : Linkedin islamic-finance sharia-bank OJK Financial-Services-Authority BRI-Syariah Bank-Syariah-Mandiri BCA-Syariahlast_img

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