"The presence of financial technology and other electronic services needs to be expanded in order to encourage Islamic financial inclusion in Indonesia," Vice President Ma'ruf said at an international webinar on 'Digitalization Leading the Islamic Economy in the New Normal’ on Tuesday.
The development of digital technology, which has also penetrated the economic and financial sectors, has made it easier for people to meet their financial needs, he observed.
The Indonesian people are starting to get used to transacting digitally, said the Vice President. However, in terms of quantity, digital transactions are only being used to cover people's daily needs, he pointed out.
Therefore, with the expansion of Islamic financial technology, the development of Islamic economics and finance has also become rapid, he noted.
The use of financial technology in facilitating economic development and digital finance has also been a feature of the rapid development of the economy and Islamic finance in Indonesia, he added.
The use of digital technology can also encourage innovation and service breakthroughs to support the sharia economic ecosystem at large, including the halal industry, the Vice President said.
“Digital technology has also been utilized by communities, such as Islamic boarding schools, Muslim community organizations, and zakat (alms) and waqf institutions,” he added. (INE)
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Translator: Fransiska, Azis Kurmala
Editor: Suharto
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