Strengthening Synergy in the Sharia Finance Sector, Bank Jatim Supports the 2025 Indonesia Islamic Finance Summit (IIFS).
Date: 04 november 2025Categories :
SURABAYA, November 4, 2025. PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) together with the East Java Financial Services Authority (OJK) successfully held a workshop at the Indonesia Islamic Finance Summit (IIFS) 2025 event. The theme raised in this workshop was "Synergy of Sharia Banking in the Context of Expanding Access to Sharia Banking Services." Held at the Bank Jatim Head Office, the event was attended by East Java Deputy Governor Emil Elestianto Dardak, OJK's Chief Executive of Banking Supervision Dian Ediana Rae, Bank Jatim President Director Winardi Legowo, all directors, board of commissioners, and sharia supervisory board of Bank Jatim, as well as other executive officials.
Dian explained that in an era like today, it is very important to innovate and expand access to sharia finance for all levels of society. According to him, public awareness of sharia-based economic values continues to increase, but real steps are still needed to broaden the understanding and use of sharia financial products more equitably. "Demand for sharia financial services continues to grow. Therefore, it is important for us to respond through innovation, product efficiency, and ecosystem integration. Sharia financial innovation must be able to combine economic and social values to provide blessings for the community," said Mahendra. Dian elaborated that the national sharia finance industry recorded encouraging growth. As of August 2025, the total aggregated assets of the national sharia finance industry had reached Rp3,030 trillion, or grown 11.4 percent of the total assets of the national financial industry. "The growth of sharia financial assets shows a significant increase. National sharia banking assets currently stand at Rp975.94 trillion with a market share of 7.44 percent, while the sharia capital market reached Rp1,832.3 trillion with a market share of 19.92 percent. This is an important achievement that demonstrates the resilience and great prospects of sharia finance in Indonesia," stated Dian.
This success is inseparable from cross-sector synergy, especially among regulators, financial institutions, academics, and regional governments in strengthening sharia financial inclusion and literacy in various regions. Dian also highlighted East Java as one of the provinces with the most active sharia finance ecosystem in Indonesia. According to him, the support from thousands of pesantren (Islamic boarding schools), millions of students, and halal MSME (Micro, Small, and Medium Enterprises) players is a great strength in driving the sharia-based economy. "The growth of the sharia economy in East Java is very strong because it is supported by established social and educational foundations. This year, East Java successfully won 10 Sharia Adinata Awards 2025, which shows the region's great contribution to strengthening social welfare and economic empowerment of the community," said Dian.
Winardi also said that the implementation of IIFS 2025 has a very important meaning because it serves as a platform to strengthen synergy, collaboration, and innovation in the sharia finance sector. His party believes that the sharia economy and finance have enormous potential to become the driving force for inclusive, just, and sustainable economic growth, in line with the regional economic development spirit continuously promoted by the East Java Provincial Government.
The momentum of this activity became even more special because it was also accompanied by a thematic seminar featuring speakers with interesting topics and a ceremonial signing of several strategic cooperation agreements. First, the signing of a financial service cooperation with Aisyah Bojonegoro Hospital as a form of sharia banking support for strengthening the health sector based on Islamic values. Second, the signing of sharia financial service cooperation with Pondok Pesantren Lirboyo Kediri as a real step in encouraging the economic independence of the pesantren. Third, the Signing of a Memorandum of Understanding (MoU) for Cash Waqf Linked Deposit (CWLD) with Rumah Wakaf Indonesia and Gerakan Wakaf Indonesia, which is expected to strengthen the social economic movement based on waqf (endowment) as an instrument for sustainable development.
CWLD itself is an innovative instrument from sharia banking that combines investment and social functions. CWLD allows customers to invest in deposits, and the profit from the revenue sharing is automatically distributed as cash waqf for beneficial social programs. An example is the cooperation carried out with Rumah Wakaf Indonesia. The waqf funds collected through CWLD will be used for business capital assistance for coffee entrepreneur players in the Surabaya City area. Then, the cooperation with Gerakan Wakaf Indonesia is for the cavendish banana cultivation program. "We believe that these collaborations will not only expand the sharia finance ecosystem but also bring real benefits to the people of East Java and Indonesia in general," he stressed.
As a Regional Development Bank, Bank Jatim is committed to supporting government and OJK programs in expanding access and strengthening the sharia finance ecosystem. "We believe that the synergy between regulators, industry players, Regional Governments, and the community will be the main key in realizing Indonesia's grand vision as a world sharia economy and finance center. Through this forum, we hope various ideas, collaborations, and innovations will be born that can accelerate the transformation and strengthening of the national sharia finance industry, and provide real benefits for the wider community, especially in East Java," explained Winardi.
East Java Deputy Governor Emil Elestianto Dardak also stated that Bank Jatim must have a high level of commitment to developing the sharia products in the Bank Jatim Sharia Business Unit. "IIFS is one proof, one momentum to affirm Bank Jatim's commitment to also developing its function which must progress, must go all out because the potential for the sharia economy is still very large. The effort to encourage sharia inclusion is actually not only happening in East Java, but throughout Indonesia. Looking at the OJK data presentation, there is actually good growth (sharia banking), but the space is indeed still large, and that large space means it can still be optimized," he concluded.
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