BI to Hold Indonesia Sharia Economic Festival in Surabaya

Jakarta (Antara) -- Bank Indonesia (BI) is set to organize the Indonesia Sharia Economic Festival (ISEF) in Surabaya, East Java, to introduce models of sharia economic activities and encourage the public to use sharia products. "Hopefully, the event will also provide a chance for Indonesia to establish cooperation with other members of the OIC (Organization of Islamic Cooperation) to develop a sharia-based economy," the Executive Director of the communication department of BI, Tirta Segara, said in a press statement released on Tuesday. Segara also expressed hope that Indonesia would become a hub for global sharia-compliant economic development. Surabaya was chosen as the venue of the week-long festival to be held from November 3 to 9 because the capital of the East Java province served as a national center for sharia-compliant economic development, he explained. As one of the highlights of the ISEF, Bank Indonesia is scheduled to host an annual meeting of governors of central banks and monetary authorities from the 57 OIC member states, he affirmed. The meeting is aimed at boosting cooperation among central banks of OIC member states, particularly by implementing macro-prudential policies, discussing the Islamic Financial Sector Assessment Program (IFSAP), and financial inclusion, particularly in managing alms (zakat), he noted. The meeting will also be attended by representatives from international agencies, government and state agencies, regional governments, banks, sharia associations/institutions, and Islamic boarding school authorities. (*) Reported by Citro Atmoko