Bank Indonesia is aiming to raise the Islamic finance industry's share of the country's total financial market to 10-15% from around 3% at present, a deputy governor said Monday.
To that end, Bank Indonesia Deputy Gov. Halim Alamsyah said in a seminar that the central bank will continue to educate the public about Islamic finance.Alamsyah also said Indonesia's domestic Islamic finance industry was $10 billion to $12 billion in size as of June 30.
The Islamic finance industry is still in its infancy in Indonesia compared with neighbour Malaysia, despite the former having the world's largest Muslim population.
But now the government is keen to develop the local market to diversify sources of funding to help finance its budget deficit.
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