News - 11 October 2018

Sharia Industry Urged to Take Part in Financing Infrastructures

Tempo/Ratih Purnama

TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati urged investors and Indonesian sharia finance people to be involved in funding infrastructure projects, especially the ones that take form in the government – business entities cooperation, known as KPBU.

“Based on Indonesia’s needs upon infrastructure development, there is still a gap that must be filled by us. This is why a sharia-based financing in the KPBU could act as an alternative platform that is great for the local or global scale,” said Sri Mulyani in a written statement on Wednesday, October 10.

Minister Sri Mulyani had the chance to discuss this matter with investors at the Roundtable on Islamic Infrastructure Finance, which is part of the IMF-World Bank annual meeting at the Bali International Convention Center in Nusa Dua, Bali.

The minister said that the past decade saw Islamic finance has become a segment that has rapidly developed within the global financial industry. Based on a latest report, Sri Mulyani said that global infrastructure would need funds up to USD 3 trillion to USD 4 trillion annually up to the year 2030.