Islamic Finance in Indonesia


Special Lecture

  • Date & Time: Friday, 28 December, 2018, 15:00-18:00
  • Place: Yeonhi Hall(Room#201), Yonsei University
  • Speakers:
    Deputy Director Rifki Ismal (Dept. of Islamic Economics & Finance, Bank Indonesia)
    Dece Kurniadi (Advisory Committee, Muamalat Institute)
  • Organizers: SNUAC Southeast Asia Center, Korean Institute of Southeast Asian Studies, SNU Research Team for VIP Emerging Economies
  • Inquiry: Sujin Kim / +82-2-880-2695 / seacenter@snu.ac.kr

Abstract

The power of Indonesian Islamic finance is increasing in today’s growing Islamic capital market. This event, co-organized by SNUAC Southeast Asia Center, Korean Institute of Southeast Asian Studies, and SNU Research Team for VIP Emerging Economies, invites renowned scholars and practicing professionals Rifki Ismal and Dece Kurniadi to explore the growth strategy and prospects of Indonesian Islamic capital market. This special lecture will examine Indonesia’ national plan in regards to Islamic economy and finance as well as explore the potential and utility of Islamic finance advancing in South Korea.

Lecture 1 : Rifki Ismal  /  Islamic Economy and Finance in Indonesia

Lecture 2 : Dece Kurniadi  /  Hajj Fund in Indonesia

Review

On December 28, 2018, the last academic event of the Southeast Asia Center at SNUAC invited two special lecturers on the recent changes in the Islamic financial system in Indonesia. Indonesia is often referred to as the latecomer and Malaysia as the frontrunner regarding the global Islamic financial market which was established since the 1970s. There are differences and similarities between the Indonesian and Malaysian models. For example, Indonesia benchmarked Malaysia by launching the National Committee of Sharia Finance (KNKS) in 2017. The seminar concluded with discussions on Indonesia’s plan to activate Islamic financial products more devotedly grounded on Sharia principles reflecting Indonesian views on the Malaysian Islamic financial product as less sharia-compliant.