IslamicFinance.de

Sofyan Djalil, Minister of National Development Planning, said that the National Sharia Finance Committee (KNKS) is tasked with building the industry by implementing the Master Plan for Indonesian Islamic Financial Architecture. The plan will include the formation of sharia investment banks owned by the government and privates, as well as the formation of takaful and retakaful firms owned by the state. It will also include the formation of the Islamic Financial System Safety Net. The KNKS, Sofyan said, will be led by President Joko Widodo. The government will work together with the Financial Services Authority (OJK) in preparing regulations that can accommodate the industry.