Indonesia Financial Services Authority (OJK) published the 2023 Indonesian Islamic Financial Development Report (LPKSI), endorsing the theme of "Momentum for Accelerating National Islamic Financial Growth in Response to the Enactment of the Law on the Development and Strengthening of the Financial Sector (UU PPSK)". This report provides valuable insights into the growth and trends of Indonesia’s Islamic finance industry.
In 2023, the assets of the Islamic financial industry (excluding Islamic stock capitalization) reached IDR2,582.25 trillion, growing positively by 9.04% (yoy). The resilience and positive performance of Indonesia’s Islamic financial services institutions (FSI) are globally recognized and appreciated. Indonesia’s position in the 2023 Islamic Finance Development Indicator (IFDI) remained 3rd, while in the Global Islamic Fintech Index 2023, Indonesia also ranked 3rd. Furthermore, due to its positive environmental impact, Indonesia’s Green Sukuk has received 15 awards from various international institutions. The aforementioned policy measures and developments are comprehensively summarized in the 2023 Indonesian Islamic Finance Report (LPKSI).
Through collaboration with relevant stakeholders, islamic economic and financial policies will continuously be directed to increase the contribution of islamic economics and finance to national economic growth. This publication is a tangible manifestation of a collective commitment to developing and and strengthening Islamic finance in Indonesia. In the 2023 LPKSI, OJK continues its collaboration and synergy with Bank Indonesia, the Ministry of Finance of the Republic of Indonesia, and the National Committee for Islamic Economy and Finance (KNEKS) in presenting a portrait of Islamic financial services institutions (IJK) as well as various Islamic economic and financial policy initiatives to support the reform of Indonesia’s financial sector.
This report is expected to serve as a useful reference for the general public and enhances the spirit of collaboration among all parties in encouraging the reform of Indonesia’s financial sector as mandated by the PPSK Law through the development and strengthening of islamic economics and finance.
Download Indonesian Islamic Financial Development Report (LPKSI) 2023 on the attached file.
