REPUBLIKA.CO.ID, JAKARTA - As a country with largest Muslim population in the world, Indonesia has great potential in retail banking sector and Islamic banking industry.
"Indonesia is a potential market for retail banking sector," said Head of Permata Islamic Bank, Ahmad K Permana in Islamic Finance News Forum Jakarta on Tuesday. Islamic finance has growth of 30 to 40 percent per year.
Currently, almost all Islamic banks and their units have entered retail financing. It contributes 60 to 70 percent of total Islamic banking financing.
Retail banking needs to be supported by good products. Permata Bank for example, sold retail sukuk series SR-005 worth 289 billion IDR.
McKinsey mentioned Indonesia has the most stable economic in the world as its growth beyond developed countries under the umbrella of Organisation for Economic Cooperation and Development (OECD). Domestic consumption is the driving force behind the growth.
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