Indonesia's Vice President for the 2019-2024 term, Ma'ruf Amin, revealed that the Islamic economy and finance in Indonesia continue to grow with a positive trend. "In the Islamic finance sector, total assets as of October 2024 amounted to IDR 10.212 trillion, marking a year-on-year growth of 19.4%," Ma'ruf stated at the Maybank Shariah Thought Leaders Forum held at the Fairmont Hotel in Jakarta, as reported by Media Indonesia on Monday, January 13, 2025.
Furthermore, Ma'ruf mentioned that Islamic banking assets reached IDR 924.42 trillion, a 13.7% growth, which is higher than the 7% year-on-year growth of conventional banking assets. In terms of financing, Islamic banking financing reached IDR 636.09 trillion, growing by 11.94%, also outpacing the 10.92% year-on-year growth of conventional banking credit. This data, he added, demonstrates that Islamic finance in Indonesia is on a positive growth trajectory and remains highly promising for further development. He emphasized that the unique characteristics of the Islamic economy serve as a strong driving force to accelerate the mainstreaming of Islamic economics in the country, particularly in strengthening its role in implementing sustainability agendas, which are inherently aligned with Islamic economic principles.
