RRI.CO.ID, Jakarta - Indonesia has set an ambitious target to expand the dominance of its Islamic economy industry, aiming to capture 75 percent of themarket share in the coming years.

The projection was announced by the 13th Vice President of Indonesia and Chairman of the Advisory Board for the Center for Sharia Economic Development Institute for Development of Economics and Finance (CSED Indef), Ma’ruf Amin. He noted that current achievements do not yet reflect the full potential of the domestic market.

“We are still around 30 percent for sharia finance and 40 percent for the sharia economy as a whole. Ideally, it should be above 50 percent. We should aim for a 75 percent market share for the sharia economy industry,” Ma’ruf said in Jakarta on Tuesday, February 24, 2026, as quoted by Antara.

Despite the market share remaining below 50 percent, Ma’ruf highlighted significant progress in developing Indonesia’s sharia economy. Indonesia has consistently ranked among the top countries in the Global Islamic Economy Indicator (GIEI) and placed third in the 2025 index.

The growth is reflected in the annual increase of Islamic financial assets, alongside rapid expansion in halal industries such as food, Muslim fashion, and tourism.

Ma’ruf also pointed to improvements in zakat and waqf management, which he said are now more structured and have the potential to serve as instruments for economic redistribution and reducing inequality. He stressed that strengthening the Islamic economic ecosystem is necessary for it to become a central pillar of the national economy.

“What we need now is courage. Courage to think, determination to uphold principles, and consistency in the effort to develop the national Islamic economic ecosystem,” he said.

Indef Executive Director Esther Sri Astuti echoed the view that the sector holds strong prospects. She cited Indonesia’s position as home to the world’s largest Muslim population and a growing middle class as key assets.

“Data shows that as of the end of December 2024, sharia economic financial assets amounted to around Rp9,927 trillion. However, Indonesia still has enormous potential to become a global center of the sharia economy,” said Esther. ***