Indonesian Ambassador: Indonesia Ready to Lead Global Sharia Economic Development

Indonesian Ambassador to the United States Indroyono Soesilo has affirmed Indonesia’s readiness to lead the development of sharia economics and finance at the global level as a sustainable development solution for society. “Indonesia has very strong capital to become one of the world’s centres for sharia economic development,” said Ambassador Indroyono regarding Indonesia’s participation in the IFESCD 2026 Islamic economics conference at the World Bank headquarters in Washington DC this week. The ambassador assessed that the Islamic finance industry, which is already worth 3.6 trillion US dollars, has not yet been optimally utilised to answer development challenges, particularly in developing countries. With a Muslim population exceeding 240 million, Indonesia has great potential as a centre for global sharia economic innovation, even though the national Islamic finance industry’s market share is still in a growth phase. “Through international collaboration, strengthening research, digital innovation, and optimising Islamic financial and social instruments, we can present development solutions that are more inclusive, just, and sustainable for the global community,” said Ambassador Indroyono. During the agenda, the Indonesian Ambassador to the US highlighted the strengthening of the National Committee for Sharia Economics and Finance (KNEKS) and Bank Syariah Indonesia (BSI) as efforts to reinforce the foundation of the national sharia finance industry’s development. He also noted that the issuance of sovereign sukuk exceeding 120 billion US dollars reflects the contribution of the sharia economy to development financing in Indonesia. The Embassy facilitated the presence of several national sharia economic institutions from the University of Indonesia, Tazkia University Bogor, Dompet Dhuafa, and the Center for Technology and Innovation Studies (CTIS) Jakarta. The reception towards these institutions reflects the growing international attention to Indonesia’s sharia economic development as a new force in the global economic ecosystem. Ambassador Indroyono also assessed that Indonesia’s participation in IFESCD 2026 reinforces the country’s commitment to strengthening international partnerships, expanding sharia economic innovation, and taking a greater role in shaping an inclusive, resilient, and sustainable global economy.