VP tells IAEI to help younger generation understand Islamic economics

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Vice President Ma’ruf Amin has asked the Association of Islamic Economists (IAEI) to help the younger generation understand Islamic economics and finance so that Indonesia can benefit from the growing global Muslim population in the future.

“It is a noble task for IAEI to take part in preparing Indonesia’s younger generation to understand Islamic economics. So that in the future, Indonesia can reap the benefits of the growing Muslim population in the world,” he said at the National Working Gathering of IAEI here on Friday.

Economic recovery will continue to be pursued, he added. National economic growth in 2021 reached 3.69 percent, with the GDP (gross domestic product) per capita pegged at Rp62.2 million.

“It can be said that the Indonesian economy is gradually improving. In particular, positive growth is also felt in the global Islamic economy and finance sector,” he noted.

In 2021, Muslims spent US$2 trillion in the food, pharmaceutical, and other lifestyle sectors, a growth of 8.9 percent from the previous year. “In 2022, global Muslim spending is estimated to grow by 9.1 percent,” Amin highlighted. He said he is upbeat that the potential for economic development and Islamic finance in Indonesia is very good.

In December 2021, Indonesia’s total Islamic financial assets, excluding sharia shares, reached Rp2,050 trillion. Amin said he considers this an excellent asset for strengthening and maintaining Indonesia’s economy and finances.— ANTARA