Deputy Governor of Bank Indonesia, Doni P Joewono, highlighted that Indonesia remains a global market for halal products, with its halal product imports exceeding its exports. Speaking at the Sharia Economic Festival (Fesyar) for the Sumatra Region 2024 in Batam on Monday, Doni noted that countries like India, the United States, and Korea are the main exporters of halal products. According to data from the State of the Global Islamic Economy (SGIE), Indonesia ranks third in the global sharia economic indicator, with a halal product turnover reaching USD 1.4 trillion. Indonesia also holds the second position in the consumption trend of halal industry products.Doni emphasized the importance of collaboration involving all societal levels to develop Indonesia's sharia economy. He pointed out the limited reliance on sharia finance, predominantly through Islamic banking, and stressed the need for societal readiness to use sharia financial services to enable the optimal functioning of Islamic banks. He appreciated initiatives like the establishment of cooperative boarding schools to boost the growth of the sharia economy. Strengthening the ecosystem for halal products in Indonesia remains a significant challenge in enhancing the sharia economy.Previously, Bank Indonesia's Riau Islands Province engaged around 112 top SMEs in the Sharia Economic Festival (FESyar) for the Sumatra Region 2024 held in Batam from May 27 to June 2, 2024. Suryono, the head of BI Kepri, mentioned that these SMEs are under the mentorship of 13 BI regional offices in Sumatra. The theme of FESyar Sumatra 2024 is synergy to strengthen the resilience and revival of Sumatra's sharia economy.

Source: https://www.antaranews.com/berita/4123989/bi-indonesia-masih-jadi-pasar-global-untuk-produk-halal