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Expert: Sharia economy offers people’s economic solution

Farouk Abdullah Alwyni. (Private document)

Sharia economy and finance must be strengthened from all aspects, starting from quality human resources capable of responding to the challenges of the digital technology era to setting and supervising sharia financial regulations so that the rupiah (Indonesian currency) is stable and more valuable.

 

Jakarta (Indonesia Window) – Indonesia’s sharia economic expert Farouk Abdullah Alwyni who is also a candidate for the House of Representatives for his constituencies of Central Jakarta, South Jakarta and overseas is determined to fight for and strengthen the sharia economy and finance through struggles in the parliament.

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Farouk is a member of the Prosperous Justice Party (PKS/Partai Keadilan Sejahtera).

In a written statement in Jakarta on Sunday (14/1), Farouk stated that the sharia economy and finance must be strengthened from all aspects, starting from quality human resources capable of responding to the challenges of the digital technology era to setting and supervising sharia financial regulations to make the rupiah (Indonesian currency) stable and more valuable.

In his official statement, the legislative candidate also stated that one of the efforts that needs to be made to enhance the sharia economy is to provide broad access for the sharia economic and financial players by establishing many microfinance institutions throughout Indonesia.

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He explained that with the majority of the population being Muslims, sharia financial and economic institutions should develop and thrive in Indonesia so that their existence can improve the welfare of the country’s Muslims and people.

Efforts that can be taken, according to him, are to provide easy access to capital for sharia economic players by collaborating with the government, the business community, sharia banking and sharia cooperatives.

A former director of Bank Muammalat, who now serves as Deputy Rector for Human Resources and Governance at Binawan University, Jakarta, invited all levels of society, especially those in the Central Jakarta and South Jakarta areas as well as abroad, to collaborate and create positive synergies to build and develop the sharia economy.

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Bank Muamalat Indonesia is the first commercial bank in the country to apply Islamic sharia principles in carrying out its operations.

Binawan University is a private university located in East Jakarta,

Farouk Alwyni is one of the Indonesian sharia economic figures, who has studied at New York University, Birmingham University, and University Sains Malaysia and has worked as a senior officer at the Islamic Development Bank (IsDB) and at several other national and international financial institutions.

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Reporting by Indonesia Window

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