Integration of Islamic Boarding Schools and Fintech to Support Economy

KOMPAS/PRIYOMBODO

Visitors seek information on the Syariah Fund’s halal investment program at the 2019 Indonesia Fintech Summit & Expo, held at the Jakarta Convention Center in Central Jakarta.

JAKARTA, KOMPAS - Islamic economics can be a new engine for sustainable economic growth. The government and related authorities plan to integrate the Islamic economy with the digital ecosystem, especially financial technology (fintech), and to form a holding company of the country’s Islamic boarding schools (pesantren).

The deputy governor of Bank Indonesia (BI), Dody Budi Waluyo, said amid global uncertainty, the development of Islamic economic and finance would strengthen national resilience. The sharia system is strong because it is based on risk-sharing rather than on the debt approach.