Indonesian Ambassador: Indonesia Ready to Lead Global Sharia Economic Development
Through international collaboration, strengthened research, digital innovation and the optimisation of Islamic financial and social instruments, we can deliver development solutions that are more inclusive.
Jakarta (ANTARA) - Indonesia’s Ambassador to the United States, Indroyono Soesilo, has affirmed Indonesia’s readiness to lead the development of the global sharia economy and finance as a sustainable development solution for society.
“Indonesia has very strong credentials to become one of the world’s centres for sharia economic development,” said Ambassador Indroyono, referring to Indonesia’s participation in the IFESCD 2026 Islamic economics conference at the World Bank headquarters in Washington DC this week.
According to a written statement from the Indonesian Embassy in Washington DC, confirmed in Jakarta on Friday, the Ambassador noted that the Islamic finance industry, already valued at US$3.6 trillion, has yet to be optimally utilised to address development challenges, particularly in developing countries.
With a Muslim population exceeding 240 million, Indonesia holds enormous potential as a global centre of sharia economic innovation, even though the national sharia finance industry’s market share is still at a growth stage.
“Through international collaboration, strengthened research, digital innovation and the optimisation of Islamic financial and social instruments, we can deliver development solutions that are more inclusive, fairer and more sustainable for the global community,” said Ambassador Indroyono.
At the event, the Ambassador highlighted the strengthening of the National Committee for Sharia Economy and Finance (KNEKS) and Bank Syariah Indonesia (BSI) as part of Indonesia’s efforts to reinforce the foundations of the national sharia finance industry.
He also highlighted the issuance of sovereign sukuk exceeding US$120 billion, reflecting the contribution of the sharia economy to development financing in Indonesia.
Meanwhile, the Indonesian Embassy in Washington DC facilitated the attendance of several national sharia economic institutions, including the University of Indonesia, Tazkia University in Bogor, Dompet Dhuafa and the Jakarta-based Center for Technology and Innovation Studies (CTIS).
The reception given to these institutions, he said, reflects the international community’s growing attention to the development of Indonesia’s sharia economy as a new force within the global economic ecosystem.
Ambassador Indroyono also assessed that Indonesia’s participation in IFESCD 2026, to be held on 15-16 July 2026, underscores Indonesia’s commitment to strengthening international partnerships, expanding sharia economic innovation and taking on a greater role in shaping an inclusive, resilient and sustainable global economy.