(Sharia economy and finance are needed) not only to expedite the economic recovery process, but also to support Indonesia’s economic growth in order to be equitable and in accordance with the sustainable principles.
Jakarta (ANTARA) - Sharia economy and finance are playing an important role in the economy, particularly in the wake of the pandemic, and have become among the main supporting pillars of economic recovery, Finance Minister Sri Mulyani Indrawati has said.

“(Sharia economy and finance are needed) Not only to expedite the economic recovery process, but also to support Indonesia’s economic growth in order to be equitable and in accordance with the sustainable principles,” Sri Mulyani Inoted during the launch of Buku Teks Ekonomi Syariah here on Tuesday.

Sharia economic values can boost the national economy and ensure fair and equitable access in all aspects, especially in terms of education, health, and inclusive economic welfare, she highlighted.

The sharia redistribution mechanism refers to a social safety net system that, in Islamic fundamentals, teaches to always care and pay attention to the poor and vulnerable groups, she explained.

This value is in line with the goal of social justice for all the people of Indonesia and in accordance with the government policy design for building a social safety net through several social assistance programs, she said.

The social safety net program was designed to help boost the capability of the weak, poor, and vulnerable groups to enable them to catch up with other groups, she stated.

“This will also strengthen the social security and Indonesia’s economy,” she pointed out.

In addition, the risk sharing-based sharia financial system can also help build financial system stability since it shuns excessive risk in an attempt to realize sustainable economic growth, she said.

“Excessive risk-taking and imprudent risks will not be able to create economic crises (under a sharia financial system),” she added.

Sharia economic principles are aligned with the four main pillars of Sustainable Development Goals (SDGs) that cover the human development aspect, social strength, economy sector, and environment protection, the minister informed.

Seeing the sharia economy’s potential as one of the new economic growth sources, the government is committed to developing the sharia economy and finance in Indonesia, she stated.

Her statement mirrored President Joko Widodo’s directives that Indonesia become the main driver of the sharia economy by exploiting its huge potential in the financial market.

“So, Indonesia will not only be the target market and halal industrial products of other countries,” Indrawati remarked. (INE)

Related news: VP calls for innovation, research on sharia economy at varsities
Related news: Indrawati highlights increasing role of sharia economy in Indonesia

EDITED BY INE

Translator: Astrid Habibah/ Juwita TR
Editor: Suharto
Copyright © ANTARA 2021