REPUBLIKA.CO.ID, JAKARTA -- Lord Mayor of the City of London Alderman Alan Yarrow, a British business delegation member, is promoting Indonesia's infrastructure development program, so that the country can actively contribute to economic growth in the ASEAN region.
"Infrastructure financing is new and innovative. We will support Indonesia as the country is a crucial market for the United Kingdom," Yarrow stated here on Wednesday.
He noted that Britain ranks among the top five investors in Indonesia, and therefore, the United Kingdom is ready to establish cooperation with Indonesia's financial sector, including those based on Shariah.
With an array of existing infrastructure projects, the firms in the city of London are ready to support Indonesia, he emphasized.
"Islamic banking and capital markets as well as the potential for cooperation between the two countries are topics that I want to raise in this visit to Indonesia. I would like to show that the United Kingdom is the leader of the international financial community in western countries," Yarrow affirmed.
Yarrow will meet senior Indonesian government officials, investors, policy makers, and business leaders in the country.
During the meeting themed, "Islamic Banking," Yarrow will deliver a speech on the British expertise in the field of Islamic capital market and private finance initiatives.
Chief Executive of the Capital Market Supervisory of Financial Services Authority (FSA) Nurhaida stated that the institution will hold a discussion with the Lord Mayor in order to improve the liquidity of Islamic financial markets, one of them being Shariah bonds.
"In the United Kingdom, there is liquidity in the bond market and is very active. We want to hear and exchange ideas related to the success achieved by the United Kingdom in this field while taking Indonesia into consideration. So far, there has been no memorandum of understanding," Nurhaida remarked.
She said that Lord Mayor is visiting Indonesia as there is potential in the Shariah market in the most populous Muslim country in the world.
"At least 20 business delegates accompanying Lord Mayor will share their experiences to rapidly develop Shariah financial products" Nurhaida added.
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