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Jakarta, April 28, 2017 — The Sharia financial industries in general were on the rise until February 2017, especially the Sharia non-bank financial industry.

In terms of Sharia financial assets, the Sharia capital market made the largest contribution that worth IDR 451.2 trillion. The figure was made up of IDR 11.75 trillion in corporate sukuk, IDR 16.20 trillion in Sharia mutual funds and IDR 423.29 trillion in sovereign sukuk.

Sharia banks constituted 40 percent of the Sharia financial industries, with total assets of IDR 355.88 trillion, whereas assets of Sharia insurance and Sharia financing companies, and other Sharia non-bank financial institutions amounted to IDR 34.28 trillion, IDR 37.07 trillion and IDR 18.66 trillion, respectively.

Indonesian Sharia Financial Industries' Assets (in trillion Rupiahs)

The OJK will continue fostering the Sharia financial services industries in the country and one way to implement its mission is raising public awareness on Sharia financial products and services.

As part of its efforts to foster the industries, and in line with the I Love Sharia Finance campaign—which was inaugurated by Indonesian President Jokowi on June 14, 2015—the OJK and the Sharia financial industries regularly host joint activities such as information dissemination and education, training of trainers, and also Sharia Finance Fair (KSF). The fair is held as a Sharia financial industry expo and industry players, including Sharia banks, the Sharia capital market, and Sharia non-bank financial institutions, participate in the exhibition. 

The expo is an OJK strategy to bring the public closer to the Sharia financial industries. It also serves as a platform for giving the public information about the merits of Sharia financial products and services, and providing them with on-site education that the industry offers excellent, complete, and modern products and services, on a par with those available from the conventional financial industry.  

National Sharia financial industries need to conduct regular information dissemination and public education (campaign) to introduce increasingly diversified and competitive Sharia financial products and services, so the general public can benefit from them, and in turn, the industries will be able to make real and optimal contribution to national economy's sustainable growth and development. 

In 2016, KSF was held five times in various Indonesian cities: Jakarta, Surabaya, South Tangerang, Aceh and Makassar. For 2017, the fair is planned to take place in three cities, namely Semarang, Cirebon and Jakarta.

The next KSF will be held from May 12 to 14, 2017 at Paragon Mall, Semarang. Forty Sharia financial industry players, comprising of 19 Sharia non-bank financial institutions, 13 Sharia banks, and eight investment managers and securities companies, will participate in the event.

Other than exhibiting Sharia financial products and services, the fair will also see the signing of a cooperation agreement between Sharia financial industries, and hold talk shows about the industries and various competitions. 

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For more information:

Edi Setiadi, Deputy Commisioner for Non-Bank Financial Industry (IKNB) Supervision I edy_setiadi@ojk.go.id www.ojk.go.id