Sharia mutual fund have grown sluggishly probably because the product is not yet sufficiently known in this worlds largest Muslim country, Nurhaida said here on Wednesday.
She said sharia mutual fund could have been used as an alternative investment product to attract investors.
She said in other countries like Malaysia and Britain the market of sharia products have grown fast.
"In our calculation, the potential is very big in Indonesia, but the product still need intensive promotion," she said.
Based on data at OJK in April 2016 , there were 101 sharia mutual fund managers valued at Rp9.3 trillion , up from 50 in 2011 valued at Rp5.5 trillion.
As the worlds largest Muslim country Indonesia has a highly competitive position to become a trading hub for sharia products including global sharia mutual funds, Nurhaida said.
Sharia mutual funds are already traded in the country since 1997, but the net assets of sharia mutual fund companies in the country remain small or about 7 percent of those in Malaysia. (*)
Editor: Heru Purwanto
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