By: Ajeng Mufadillah
Bank Indonesia (BI) prepared four steps to support the acceleration of sharia economic development. The goal is that Islamic economic products are increasingly in demand by the public and can contribute to the performance of the national economy.
BI Deputy Governor Perry Warjiyo said, we must take collective steps that can support the economy and Islamic finance to develop and become a global pillar.
Perry explained, the four steps include preparing regulations and policies that support financial and Islamic economics as well as increasing knowledge about Islamic economics and finance for banks, business actors and the real sector.
He said, there needs to be a pro-economic regulation on sharia finance and there needs to be education to cover the knowledge gap for Islamic economics. Let’s close this gap together to develop Islamic economics.
In addition, other steps are to prepare models for sharia economic and financial financing and to carry out various international initiatives such as the core principles of zakat and waqaf which will be launched in 2015.
Perry added that community-based economic and sharia financial business models are the right model in the development of Micro, Small and Medium Enterprises (MSMEs). Including to ward off the penetration of MSMEs from the outside which are getting bigger with the liberalization of ASEAN.
Perry said, this is a new trend in the business model, not only for Islamic economics but also in Indonesia. The development can support sharia economic SMEs whose base is the community from Islamic boarding schools or NGOs that are committed to carrying out business capital collectives.
He hopes, through education in the form of a seminar it can increase understanding and interest of entrepreneurs towards sharia financial schemes. Furthermore, by utilizing the business network, various contributions can be provided by employers in encouraging economic and financial development in Indonesia, especially in East Java.
The Chairperson of the Indonesian Muslim Business, Misbahul Huda, said that sharia banking players could seize opportunities to further develop and support the performance of the national economy, by cooperating with young entrepreneurs. The hope of entrepreneurs, Islamic banks can read the continuing trend of the widespread business movement without usury, which young entrepreneurs are interested in.
Misbahul said, in situations of uncertainty that occur because of the crisis, Islamic economic opportunities to be known to the public are very large because they have the opportunity to innovate with young entrepreneurs. Islamic banking can be creative by giving birth to superior sharia innovations, especially in crisis situations like now.
He considered, Islamic banking could be more advanced because entrepreneurs have supported the involvement of Islamic economics in improving the performance of the national economy, but its implementation still raises a number of records. and the Sharia Supervisory Board who have not fully understood the Islamic economic concept.
Misbahul said, the control and authority of the Sharia Supervisory Board was less strong and lacked access to the community, so the Sharia Supervisory Board seemed to be only a formality, the knowledge competency was doubtful.
Another complaint is that sharia banking services are not fully satisfying, unprofessional and the procedures are complicated, and human resources still have the mindset like conventional bankers. Islamic economic concepts are indeed in the process, but if we don’t start, who else.
For this reason, he expects the harmonization of the government’s fiscal policy with Islamic financial services while maintaining a conducive economic atmosphere and educating the public about the products of Islamic financial institutions through the community and business associations. All that must be done to produce services and sharia products that are truly Sharia.