Prabowo Goal for Shariah-Compliant Finance Hub Fails to Sway
Bareksa • 19 Jun 2014
A Shariah-compliant bank officer shows flyers of Islamic bonds during the Shariah Economy exhibition in Jakarta in this June 2011 file photo. (JG Photo/ Yudhi Sukma Wijaya)
Indonesia’s corporate sukuk market is just 0.4 percent of the size of Malaysia’s.
Bareksa.com - Presidential candidate Prabowo Subianto plans to set up an independent body to manage the Hajj fund and introduce a Shariah-compliant option to buy low-cost housing, according to a statement submitted to the Election Commission before the July 9 vote.
As quoted by The Jakarta Globe, Indonesia needs to resolve double taxation, introduce a more complete and Shariah-specific regulatory framework and speed up approval for new products, said Achmad Riawan Amin, chairman of the supervisory board at the Indonesia Islamic Banking Association.