We need joint innovation to expand a more inclusive and sustainable market
Jakarta (ANTARA) - Vice President Ma'ruf Amin underscored the importance of joint innovation from various parties to expand the sharia (Islamic) capital market in Indonesia in a bid to strengthen the Islamic finance industry.

"We need joint innovation to expand a more inclusive and sustainable market," the vice president stated at the International Conference on The Future of Islamic Capital Market: Opportunities, Challenges and Way Forward held virtually by KNEKS here on Thursday.

The sharia capital market also holds significance as a source of funding and investment for the community, he pointed out.

Hence, the public and all stakeholders must gain a sound understanding of the requirement for the sharia capital market, according to Amin.

"At least two main challenges must be faced to develop and expand the sharia market in future, including by increasing literacy and dissemination of information to members of the community," the vice president expounded.

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Boosting literacy and increasing dissemination of information regarding the sharia capital market to corporations and social investors are also deemed crucial.

In addition, knowledge of the sharia capital market should be disseminated to the millennial generation and generation Z in a way that is easier to understand and is relevant to current conditions, he noted.

Meanwhile, Finance Minister Sri Mulyani Indrawati noted that the sharia capital market could contribute significantly to the national economic recovery (PEN) amid the COVID-19 pandemic.

In developing countries, the minister pointed out that the capital market had played a significant role in the financial sector to generate investment in the country.

"Developed countries have capital markets as a sector that opens opportunities for investors to invest and for entrepreneurs to get funds from investors," shestated.


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Translator: Fransiska Ninditya, Katriana
Editor: Fardah Assegaf
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