Bank Indonesia and Muhammadiyah — one of the country's largest Islamic organizations — have committed to strengthening the development of the sharia economy.
This commitment was outlined in a memorandum of understanding (MoU) signed by Bank Indonesia Governor Perry Warjiyo and Muhammadiyah Chairperson Haedar Nashir in Jakarta on Wednesday.
In an official statement, Warjiyo said the MoU reflects the joint effort between the central bank and Muhammadiyah to accelerate the development of the sharia economy in Indonesia.
The MoU outlines several key goals. First, it aims to support the implementation of sharia economic policies, particularly through economic empowerment initiatives and the deepening of the Islamic financial market.
Second, it seeks to promote knowledge sharing between BI and Muhammadiyah to ensure that Islamic economic expertise is well documented, preserved, and continuously developed.
Third, it serves as a collaborative framework that upholds good governance in the design and execution of Islamic economic programs.
The partnership is expected to raise public awareness and understanding of the sharia economy and contribute to sustainable national economic growth.
It will also reinforce existing joint initiatives and represents a concrete step toward the shared vision of positioning Indonesia as a global hub for Islamic economy and finance.
Nashir emphasized that the collaboration is not only about running programs but also about strengthening economic and social stability through the application of sharia-based principles that foster fairness and justice.
A just economy promotes inclusive prosperity and equitable distribution of resources, while nurturing compassion and good deeds in society, he said.
Previously, BI and Muhammadiyah collaborated on several initiatives, including empowering pesantren (Islamic boarding school) business units, developing mosque-based economic models, and strengthening Muhammadiyah’s institutional and business capacity.
They have also worked together to prepare a development road map for Muhammadiyah's charitable enterprises and organize the annual Indonesia Sharia Economic Festival (ISEF).
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Translator: Primayanti
Editor: Anton Santoso
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