OJK and ICMI Boost Islamic Financial Literacy in Indonesia
OJK partners with ICMI to expand Islamic financial literacy and inclusion across Indonesia, aiming to optimize the nation's vast market potential.
Portal Islam 
This article was first published in Indonesian. Baca versi Bahasa Indonesia →
OJK (Indonesia's Financial Services Authority) is pushing to strengthen collaboration with ICMI (the Indonesian Association of Muslim Intellectuals) to broaden Islamic financial literacy and inclusion throughout Indonesia. This step is being taken in light of the massive national market potential that remains underutilized.
As cited from reports by detikHikmah and Republika, the Islamic financial literacy rate in Indonesia currently stands at 43 percent. Despite this, the inclusion rate remains relatively low at 13 percent.
OJK and ICMI Collaboration at ICMW 2026
Frederica Widyasari Dewi, Chair of the Board of Commissioners of OJK, extended this invitation for cooperation during the International Conference of Muslim Women (ICMW) 2026 held in Central Jakarta on Monday (Nov 9, 2026, WIB/UTC+7). She emphasized the importance of educational outreach to the public, particularly among women.
We are inviting ICMI to cooperate in three areas: first, to jointly provide literacy education to the public, especially Indonesian women, which is also in line with OJK's program to deliver educational literacy to society.
Frederica Widyasari Dewi, Chair of the Board of Commissioners of OJK
Frederica explained that understanding Islamic financial products and utilizing them in daily activities is a vital asset in encouraging the public to use these services. Furthermore, Indonesia boasts a very large Muslim population, meaning opportunities to develop the Islamic finance sector remain wide open.
Human Resources Development and ICMI's Response
According to Republika's report, the collaboration between OJK and ICMI is also directed toward strengthening human resources to meet the needs of the Islamic financial services industry. A "link and match" connection between universities and the industry is necessary to ensure graduates possess the appropriate competencies.
We need to push for more human resources, high-quality personnel who can directly enter the Islamic financial services sector.
Frederica Widyasari Dewi, Chair of the Board of Commissioners of OJK
Meanwhile, according to detikHikmah, ICMI Secretary-General Dr. Ir. Andi Yuliani Paris stated that ICMI has discussed the development of the Islamic economy and finance at length. She confirmed that Islamic financial literacy is quite high while its inclusion remains low, contrasting with conventional finance, which sees high inclusion despite low literacy.
Now, that is also a program of OJK. Certainly, we will discuss more to find innovations and necessary measures so that the Islamic economy, Islamic finance, and Islamic banking can rise rapidly.
Dr. Ir. Andi Yuliani Paris, Secretary-General of ICMI
Andri, who also serves as a Member of Commission XI, added that ICMI is actively involved in developing the halal ecosystem and industry. Regarding the international workshop on Islamic finance organized by OJK, she expressed hope that ICMI would be actively engaged as a contributor of ideas.
We hope ICMI is involved. Not just as participants, but many thinkers from ICMI can contribute ideas regarding the advancement of Islamic finance and activities aimed at increasing Islamic financial inclusion.
Dr. Ir. Andi Yuliani Paris, Secretary-General of ICMI
The Islamic Economic Perspective in Muamalah
Strengthening Islamic financial literacy and inclusion holds strategic dimensions in building a just system of muamalah (Islamic social-economic dealings). Developing this sector is expected to provide financial access aligned with sharia principles, steer clear of usurious (riba) practices, and deliver tangible benefits to all segments of society.
