Rabu , 03 Mei 2017, 07:46 WIB

Global sharia finance assets to reach 3.5 trillion US dollar in 2021

Rep: Idealisa Masyrafina, Sri Handayani/ Red: Reiny Dwinanda
Antara/Aprillio Akbar
Chairman of Commisionary Board of Financial Services Authority (OJK) Muliaman D. Hadad
Chairman of Commisionary Board of Financial Services Authority (OJK) Muliaman D. Hadad

REPUBLIKA.CO.ID, JAKARTA -- During the last few years, Islamic economy showed rapid development encouraged by the global middle class of Muslims population growth. 

The global Islamic finance assets was predicted to reach 3.5 trillion US dollar in 2021 with the current assets reached 2 trillion US dollar in 2015. 

"The value would increase with big potency of global Islamic financial sector,"  said the Chairman of Commisionary Board of Financial Services Authority (OJK) Muliaman D. Hadad in Sharia Economic Outlook 2017 in Indonesian University, Jakarta on Tuesday (May 2). 

Muliaman explained, the published data of State of the Global Islamic Economy Report 2016 showed that the total of expenditure was 1,9 trillion US dollar, mostly (61 percent) were for food and beverages consumption. This was predicted to increase up to 3 trillion US dollar.

According to Muliaman, Indonesia is one of the country with big potencies and power in developing Islamic financial sectors. Indonesia included into nine top Islamic financial assets in the world.  

The country recently had complete Islamic financial industry whether the institution of Islamic finance, Islamic capital and non-bank Islamic financial industry.

"Per February 2017, Indonesian non-stock Islamic financial assets reaches Rp 897.1 trillion or 67,21 billion US dollar. Fifty percent of its contribution comes from Islamic banking sector,"  said Muliaman.

Indonesian Islamic economic growth was also supported by its demographic condition which were dominated by young Muslims population. It might be a chance for the Indonesian Islamic financial sectors to provide various and innovative products and services based on people's needs.

Together with United Arab Emirates (UAE), Kuwait, Bahrain, and Qatar, Indonesia was included into "emerging leaders" by Global Islamic Finance Report 2016. It was the country with global effect potency in Islamic services sectors.