Islamic-based financial industry to foster sustainable economy: VP

Islamic-based financial industry to foster sustainable economy: VP

Vice President Ma'ruf Amin delivers his speech at the 5th International Conference on Law and Justice (ICJL) broadcast on Wednesday (Oct 13, 2021). ANTARA/HO-Vice Presidential Secretariat/sh

Islamic finance is one of the fastest growing industries, where one of its pillars is trust and cooperation
Jakarta (ANTARA) - Vice President Ma'ruf Amin has encouraged the Islamic-based financial industry to promote a sustainable economy, with its swift growth in the global financial sector.

"Islamic finance is one of the fastest growing industries, where one of its pillars is trust and cooperation," Amin stated at the 5th International Conference on Law and Justice (ICLJ) themed "Sharia, Law and Sustainability in the New Normal" broadcast on Wednesday.


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Amin deems trust and cooperation as the ethical foundation that has been the basic principle of human relations based on Islamic values.

The term sustainability refers to the business model, environment management, and state resilience that required sustainable efforts.

Sustainability is also related to the Sustainable Development Goals (SDGs) as an effort to eradicate global poverty, build a dignified life for all, encourage partnership, empower people, and ensure peace, Amin remarked.

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With regard to economic development, the SDGs concept has combined three fundamentals of people, planet, and profit (3P) in the social, environmental, and financial aspects in all business sectors.

"Values in this triple fundamentals, in fact, fit in with the Islamic-based law," he added.

Amin is optimistic that all players in the sharia industry, especially in the financial sector, would encourage the application of values, so they could play a bigger role in the global industry.


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