On behalf of Her Excellency the Finance Minister of Indonesia, Mr. Astra Pramanto Bakhti, Director General of Financial Budget and Secretary General of the Indonesian Association of Islamic Economics, received H.E. Prof. Koutoub Moustapha Sano, Secretary General of the Academy, on Thursday 29 Shawal 1442 corresponding to 10 June 2021, at the headquarters of the Ministry of Finance in Jakarta. His Excellency expressed his thanks to the Secretary General of the Academy and the accompanying delegation for their response to the invitation of Her Excellency the Minister of Finance to visit Indonesia during circumstances that prevented her from meeting the delegation due to Her Excellency’s mission outside Jakarta. He nevertheless conveyed to them the greetings and thanks of Her Excellency the Minister.

For his part, the Secretary General of the Academy expressed his deep appreciation and gratitude to the Minister and the Director General for the invitation and warm welcome, stressing in this regard the Academy’s willingness to build a lasting strategic relationship with the Ministry for the Republic of Indonesia to become a global reference and an international center for promoting interest in Islamic social finance, like others.

Member States of the Organization of Islamic Cooperation, known as a global hub for Islamic banking and financial services, as in the case in Bahrain, Malaysia and the United Arab Emirates, or a global hub of Awqaf, as in the case in the State of Kuwait. His Excellency stated that the human resources, scientific frameworks, and rapid tangible developments witnessed by Indonesia in the current era are an critical factor and a valid reason for Indonesia to become the first international center to promote Islamic social finance in research, management and legislation.

The two delegations discussed possible ways and means to strengthen the desired cooperation and partnership between the Academy and the Ministry of Finance in all areas of common interest, especially concerning the advancement of Islamic banking and financial institutions in ideology, performance and management, through the joint organization of conferences, seminars, courses and holding of seminars and workshops for those interested in Islamic economy in general and Islamic finance in particular.

Based on the fact that the resolutions and recommendations of the Academy are the primary references for Islamic financial institutions and due to the respect and acceptance they enjoy, especially in the field of transactions and contracts, the Ministry of Finance, which is responsible for Islamic financial issues and problems in Indonesia, looks forward to a strategic partnership and close cooperation with the Academy to benefit from the intellectual and legal capacities of its members and experts.

The meeting concluded with the agreement of both delegations to continue the discussion and debate on various issues and challenges of Islamic finance, including its problems and developments.