The Indonesia Financial Services Authority (OJK) released the R​eport on Indonesian Islamic Finance Development (LPKSI) 2022, which provides valuable insights into the growth and trends of Indonesia’s Islamic finance industry. 

Indonesia Financial Services Authorities (OJK) releases the 2022 Indonesia Sharia Financial Development Report (LPKSI), which thematically focuses on “Sharia Economic System Empowerment and Digitization to Champion National Economic Endurance". Through this theme is firmly committed to build endurance and to drive sharia financial industry in Indonesia into post-pandemic recovery.

Along with Bank of Indonesia, Ministry of Finance of Republic of Indonesia, and National Sharia Economy and Finance Committee (KNEKS), OJK illustrates sharia financial industry in the recovering economy as the public activities returns to normal.

The resilience Indonesia's economy ​can be seen throughout 2022 as the post-pandemic economy improves. Indonesia's GDP grows by 5.3% in 2022, driven by the well-performing export sector. The trade balance records net surplus throughout 2022, in align with the increase of global commodity prices, including coal as the flagship export commodity.

The economic and sharia finances, including of sharia banking, sharia capital market, sharia Non-Bank Financial Industry (NBFI), has proven its fortitude in adaptation strategy that delivers positive outlook throughout the pandemic. Throughout 2022, the sharia financial industry assets reached IDR2,375.84 trillion or 15.87%, increasing from IDR2,050.44 trillion or 13.82%  year on year (yoy) in 2021.

The Sharia Capital Market has the most significant portion in the sharia financial assets (60.08%), which grows at the rate of 15.51% (yoy), compared to the 2021 rate of 14,83% (yoy). Sharia banking with 33.77% market share from sharia finances accelerates to 15.63% (yoy) compared to 2021 at 13.94% (yoy). Meanwhile, sharia NBFI comprises 6.15% of the sharia finances total assets, with a rapid growth of 20.88% (yoy) compared to 2021 at 3.90% (yoy).

Indonesia's sharia finances and economy has become internationally acknowledged and recognised as one of the best, as proven by Indonesia ranking 3rd in the 2022 Islamic Finance Development Indicator. 

The summary of sharia finances sector development direction is presented in the 2020-2025 Indonesia Sharia Banking Development Roadmap​ and 2020-2025 Indonesia Banking Development Roadmap, 2021-2025 BPR and BPRS Industry Development Roadmap, as well as 2020-2024 Sharia Capital Market Roadmap to capital market sector, which interprets 2021-2025 Indonesia Financial Services Sectors Master Plan in detail.

This report is expected to serve as a beneficial reference the public and to ignite collaboration spirits in empowering sharia economy ecosystem, as well as strengthening sharia finances for national economy perseverance.