BI Prepares Four Steps to Develop Sharia Economy

Surabaya, E Java (Antara Bali) - Bank Indonesia (BI) is preparing four steps to expedite the development of sharia economy, hoping the public will find its products increasingly attractive.

In this way, it will contribute towards better performance of the national economy.

"We must take collective steps which support the sharia economy and finance to develop into a global pillar," Bank Indonesia Deputy Governor Perry Warjiyo told a seminar on "Sharia financial education for entrepreneurs" here on Wednesday.

The seminar is part of a series of activities under the Indonesia Sharia Economic Festival (ISEF) 2015 being held in the East Java provincial capital of Surabaya from October 27 to November 1, 2015.

Warjiyo said the steps included preparing regulations and policies supporting sharia finance and economy and improving bankers and business agents knowledge about sharia economy and finance.

"We need pro-sharia financial economy regulations and education to close the knowledge gap about sharia economy. Let us close the gap together to develop the sharia economy," he said.

The other step is preparing the models of sharia economic and financial financing and realizing various international initiatives such as alms and benefaction core principles which will be launched this year, he said.

The models of community-based sharia economic and financial businesses are appropriate models to develop micro, small and medium businesses, including thwarting efforts by foreign micro, small and medium businesses to penetrate, due to the ASEAN liberal market, he said.

"This is the new trend of business models which are fit not only for the sharia economy but also others in Indonesia," he said.(WDY)