Minister believes sharia economy and finance to facilitate recovery

Minister believes sharia economy and finance to facilitate recovery

Finance Minister Sri Mulyani Indrawati at a webinar of the Indonesian Association of Islamic Economist (IAEI) in Jakarta on Tuesday (April 6, 2021). ANTARA/AstridFaidlatulHabibah/sh

Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati laid emphasis that sharia economy and finance should contribute to the recovery of Indonesia's economy battered by the COVID-19 pandemic.

"The sharia economy and financial system are important and inseparable from the entire economy and not exclusive. We have to see how the sharia economy can help our recovery," Indrawati stated during a webinar of the Indonesian Association of Islamic Economist (IAEI) here on Tuesday.

Indrawati noted that several principles in the sharia economy could drive the recovery, including the principle of fairness, transparency, good governance, and optimal efforts, which could assist Indonesia in escaping from the middle-income trap.

The principle of compassion in sharia economy could also be utilized to improve the quality of human resources.

"Investment in human resources is crucial, and no one should be left behind. This is fit to exit the middle-income trap," she explained.

Other aspects of the sharia economy, such as endowment and alms, could support the distribution of social aid to poor families.

"These I think are important issues," she affirmed.

The minister stressed that the IAEI should contribute to streamlining the government’s policy to expedite economic recovery. Related news: BI persistently pushes for transformation of sharia economy
Related news: President welcomes inauguration of sharia economic brand


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