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Thursday, 04 August 2022 14:09

VP Asks Financial Authority Body to Strengthen Indonesia's Economy

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Vice President (Wapres) Ma'ruf Amin received the ranks of the Board of Commissioners of the Financial Services Authority (OJK) at the Vice President's Palace, Thursday (4/8/2022).

Chairman of the OJK Board of Commissioners, Mahendra Siregar, said during the meeting the Vice President asked OJK to improve and strengthen the Indonesian economy to face the global crisis.

"We received approval from the Vice President who gave us a provision of trust and confidence in building a complete synergy in our economy to become even stronger in the face of increasingly volatile conditions in the future at the global level," said Mahendra.

“How is the government's hope and desire to see the financial services sector getting stronger. He reminded the importance of the role and health of the financial services sector in the midst of a challenging global economic situation," he continued.

Mehendra also appreciated the Vice President for his attention to the Islamic finance sector and business, as well as his role that can be directly felt by the community, to touch the needs of the lowest level.

"Mr. Vice President pays special attention to the sharia-based financial sector or business, which as a whole has a bigger role and contribution to the overall financial services sector in Indonesia," he said.

On that occasion, OJK, he continued, also reported the growth and development of Islamic finance which is getting stronger and more competitive.

"We report how the priority of the OJK is to see the growth, development of Islamic finance which is getting stronger, more competitive, and maintaining a healthy financial condition and better governance," he said.

On the other hand, regarding the improvement of Islamic financial literacy and inclusion, according to Mahendra, OJK will continue to provide literacy through various existing financial institutions, both at the bank level to microfinance institutions.

"We report and explain how the future priorities are for aspects of literacy, inclusion and understanding of Islamic finance to the public in general which are OJK's priority programs, as well as for coordinating cooperation with various parties," said Mahendra.

Data on the increase in the contribution of Islamic finance in the overall provision of financial services, namely the banking sector which has exceeded 6 percent.

“OJK will continue to strive to develop this potential, both in the priority banking and non-banking sectors. Historically it has been bigger than before, but compared to the existing potential, there is still a lot to be developed further," he concluded. (RRI)

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