Prabowo Goal for Shariah-Compliant Finance Hub Fails to Sway

Bareksa.com - Presidential candidate Prabowo Subianto plans to set up an independent body to manage the Hajj fund and introduce a Shariah-compliant option to buy low-cost housing, according to a statement submitted to the Election Commission before the July 9 vote.

As quoted by The Jakarta Globe, Indonesia needs to resolve double taxation, introduce a more complete and Shariah-specific regulatory framework and speed up approval for new products, said Achmad Riawan Amin, chairman of the supervisory board at the Indonesia Islamic Banking Association.

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