Indonesia's Financial Services Authority (OJK) opened the International Islamic Finance Summit (IIFS) 2025 in Surabaya on 3–4 November 2025, positioning the forum as its first flagship event spanning all segments of the Islamic finance sector and a vehicle for accelerating market deepening and strengthening sharia governance through the Sharia Finance Development Committee (KPKS). In remarks at the summit, OJK leaders highlighted priorities for deepening Islamic finance markets, including product diversification and business-model innovation, stronger linkages to the real sector and communities, and accelerated digitalisation via platform integration and sharia fintech to expand access, particularly for micro, small and medium-sized enterprises (UMKM) and younger customers. OJK also pointed to practical development themes such as improving product availability, accessibility and usage, and referenced instruments including Cash Waqf Linked Deposit and Sharia Restricted Investment Account as potential market-deepening products; conference sessions additionally discussed aligning regulation, fatwa and operational practice through KPKS, developing guidance for unique sharia products, and policy directions across Islamic banking, the Islamic capital market and non-bank Islamic finance. Alongside the summit, OJK held KPKS’s third regular meeting of 2025 (following meetings on 3 June 2025 and 15 September 2025) focused on Islamic finance market deepening, with the discussions expected to feed into KPKS’s work programme and cross-sector coordination within OJK.

Original source View in tracker