IslamicFinance.de

President Joko Widodo (Jokowi) has expressed hope that Indonesia will become a shariah financial center in view of the countrys huge potentials. He spoke at the launching of the "I Love Shariah Finance" campaign initiated by the Financial Service Authority (OJK). OJK chairman Muliaman D Hadad said that although the shariah finance has grown fast it is still relatively small compared to other national financial services. He said 12 shariah general banks with 22 shariah units in the country are owned by conventional banks and 163 shariah BPRs (local banks) with total assets worth Rp264.81 trillion and a market share of 4.88 percent. Until March 2015 total shariah shares traded at the shariah capital market reached Rp3,037.46 trillion with corporate bonds reached Rp7.1 trillion and shariah mutual funds Rp11.7 trillion.