REPUBLIKA.CO.ID, JAKARTA — Vice Head of Center for Sharia Economic Development (CSED) Indef Handi Riszamenyoro discusses the strategic role of the Anagata Nusantara Daya Investment Management Agency (BPI Danantara) in managing the country's assets projected to reach Rp 8.938 trillion or about 604 billion US dollars. According to him, with such jumbo numbers, Danantara could potentially be able to attract global investors, especially from the Middle East.

“Danantara can be used to issue sharia investment instruments, so as to attract international Muslim investors, especially those from the Middle East region,” Handi said in the discussion 'Ramadan Economic Overview' quoted in his statement on Monday (24/3/2025).

Handi said that one step Danantara could take is to engage in the issuance of sukuk that can enter the global sharia financial market share, which attracts international Muslim investors.

“Some sectors of the sharia economy that are potentially funded by Danantara are halal food (projected 2027 1.89 trillion US dollars), modest fashion (2027 projection 318 billion US dollars), media and recreation (2027 projection 247 billion US dollars),” he said.

Handi explained that the global sharia finance industry has continued to experience steady growth in the past decade. That was driven by high demand from Muslim consumers, particularly in the halal food sector which accounts for 1,400 billion U.S. dollars or 65 percent of total Muslim transactions.

Total global sharia financial assets are rising rapidly, reaching $4.5 trillion by 2022, with projected growth of up to $7.53 trillion by 2028. Sharia banking dominates the sector with a 72 per cent share of total assets. Meanwhile the tribe recorded significant growth of 11 percent in 2022.

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