Vice President Ma’ruf Amin has highlighted the importance of sharia insurance to develop the sharia financial industry in support of sustainable national development.
“The presence (of sharia insurance) is expected to support the creation of sustainable national development, eradicate poverty, and contribute to accelerating recovery in the event of a disaster in Indonesia,” Amin noted while addressing the launch of PT Prudential Sharia Life Assurance (Prudential Syariah) through video teleconferencing in Jakarta on Tuesday.
Not only the public but also financial institutions, such as sharia banking, require sharia insurance services, he remarked.
By applying a risk-sharing concept, sharia insurance is an alternative risk control for business agents and entrepreneurs, he noted.
“Unfortunately, the pivotal role of sharia insurance has not been reflected by the balanced growth of sharia insurance. The share market of the sharia insurance industry is relatively small,” he noted.
Based on data from the Financial Service Authority (OJK), sharia insurance holds a 5.3-percent share of the insurance market in the country in 2021. Meanwhile, the sharia insurance industry has grown since the first sharia insurance firm was set up three decades ago.
“This means that the opportunity for the sharia insurance industry is still wide open,” he affirmed.
Vice President Ma’ruf Amin has highlighted the importance of sharia insurance to develop the sharia financial industry in support of sustainable national development.
“The presence (of sharia insurance) is expected to support the creation of sustainable national development, eradicate poverty, and contribute to accelerating recovery in the event of a disaster in Indonesia,” Amin noted while addressing the launch of PT Prudential Sharia Life Assurance (Prudential Syariah) through video teleconferencing in Jakarta on Tuesday.
Not only the public but also financial institutions, such as sharia banking, require sharia insurance services, he remarked.
By applying a risk-sharing concept, sharia insurance is an alternative risk control for business agents and entrepreneurs, he noted.
“Unfortunately, the pivotal role of sharia insurance has not been reflected by the balanced growth of sharia insurance. The share market of the sharia insurance industry is relatively small,” he noted.
Based on data from the Financial Service Authority (OJK), sharia insurance holds a 5.3-percent share of the insurance market in the country in 2021. Meanwhile, the sharia insurance industry has grown since the first sharia insurance firm was set up three decades ago.
“This means that the opportunity for the sharia insurance industry is still wide open,” he affirmed.
The fisheries cultivation or aquaculture village program launched by the Ministry of Marine Affairs and Fisheries in some regions should strengthen the participation of local governments, according to Destructive Fishing Watch (DFW).
“It is necessary to look at the regions’ involvement, both at the provincial and district levels, so this program is not exclusive, which is without the participation of the local government,” DFW National Coordinator Moh Abdi Suhufan told ANTARA here on Tuesday.
Suhufan highlighted that the fisheries village program aims to develop aquaculture at the village level, with the aim of increasing productivity and enhancing the income of local fisheries’ farmers.
According to Suhufan, the cultivation village program should be based on the potential, characteristics, capacity, and market opportunities of the commodities.
“This program must be implemented in a clear, clean, and decent condition and not problematic one,” he said.
Furthermore, Suhufan emphasized that monitoring of the program must be conducted intensively to mitigate failures due to weather changes, diseases, and natural disasters.
In other words, supervision of the program’s implementation must be conducted regularly to avoid unsustainability.
“Monitoring aims to ensure the program achieves its goals. There needs to be a baseline that will increase from one level to another,” he explained.
Meanwhile, the Ministry of Marine Affairs and Fisheries has stated that the fisheries cultivation village program being developed in various regions has a goal to maximize the marine commodities and local endemic fisheries.
Director General of Aquaculture at the ministry T. B. Haeru Rahayu stated that the concept of developing the fisheries village is an effort to achieve sustainable fish farming by synergizing various potentials in the regions.
The ministry has conducted the Nile tilapia cultivation in Warukapas Village, North Minahasa District, North Sulawesi, under the supervision of the Tatelu Freshwater Aquaculture Center.
Source: Antara News