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Menara Syariah PIK 2 to become International Sharia Economics and Finance Centre

24 August 2022 07:40

JAKARTA - In the last 20 years, Sharia economics and finance have experienced rapid development. Sharia financial assets in 2003 were recorded at US$200 billion and in 2019 grew to US$2.88 trillion. By 2024, these assets are estimated to reach US$3.69 trillion.

Indonesia as a country with a Muslim population of more than 80% of the population has the potential as a large market share and can play an optimal role in the development of products and services based on sharia economy globally. As of September 2021, Indonesia's Sharia financial assets have only reached Rp624.4 trillion, assets in IKNB which include insurance, financing and others have reached Rp117 trillion, Sukuk and Mutual Funds amounting to Rp1,159.8 trillion. Sharia assets in the Islamic capital market have a market capitalization of IDR 4,315.5 trillion from 480 issuers.

In an effort to achieve Indonesia's target of becoming one of the world's Islamic financial and economic centers and realizing the goal of making Jakarta an International Shariah Financial Hub, the Agung Sedayu Group and Salim Group have built an Islamic Financial Center as a place for synergy of all Sharia financial forces in Indonesia.

The initial stage of the development of the Islamic Financial Center is the construction of Menara Syariah, two twin buildings with an area of ​​100,000 m2 and will accommodate approximately 5,000 workers. Yesterday (23/8), Menara Syariah held the Topping Off ceremony by the Vice President of the Republic of Indonesia, Mr. Ma'ruf Amin and is targeted for completion in February 2023.

For information, Menara Syariah was developed by PT Fin Centerindo Satu, a JV company between Agung Sedayu Group, Salim Group, PT Fin Centerindo Dua and Matrix Concepts Malaysia. Construction of the twin towers began in early 2021 and has spent around IDR 3.4 trillion. (LM)

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