IslamicFinance.de

Dr. Bambang Permadi Soemantri Brodjonegoro, Indonesia’s former Finance Minister and current Minister of National Development Planning, discusses the recent tax amnesty legislation and current economic prospects for Indonesia. Hosting the recent 12th World Islamic Economic Forum (WIEF) in Jakarta aims to promote Indonesia to the Muslim community, sending a message that Indonesia is a reliable economy with a lot of potential. The WIEF tries to develop Islamic finance that is more inclusive. Indonesia wants to focus on Islamic microfinance and on Muslim-friendly tourism. Beyond tourism, Muslim fashion is a sector that already has a huge market and will be increasingly important for Indonesia.

Comprehensive reforms in Turkey’s capital markets over recent years have exceeded EU standards and bred confidence among investors, says the Chairman of the Capital Markets Board Vahdettin Erta?. The Turkish government has a plan to develop the participation banking sector and also the instruments we provide under Islamic principles. The sukuk regulation was renewed in 2013 and also a new regulation was made after the reform on the private pension system which allows for the establishment of Sharia-compliant pension funds. The government also has a plan to develop the Islamic insurance (takaful) industry.