Indonesia’s Islamic Finance Rank Rises

Indonesia’s Islamic finance rank has improved exponentially this year, but challenges remain to further develop the sharia economy. Based on the 2019 Islamic Finance Development Indicator launched on Tuesday by the Islamic Corporation for the Development of the Private Sector (ICD) and financial market data provider Refinitiv, Indonesia’s ranking jumped six steps to fourth from 10th place in 2018 after Malaysia, Bahrain and the United Arab Emirates.