Bank Indonesia (BI) has outlined six key focus areas for the future development of the national sharia economy: the halal food ecosystem, modest fashion, Pesantren economy, sharia finance, digitalization of the sharia economy and finance, and sharia economic literacy and education. BI Deputy Governor Juda Agung emphasized the need for collaboration with various stakeholders to achieve these goals during the Eastern Indonesia Sharia Economic Festival (KTI) 2024, held virtually on 24 June 2024. Agung highlighted the importance of accelerating halal certification for slaughterhouses, as they are the primary source of halal food. "Ensuring the halal status of meat addresses a significant portion of the halal requirements for all food products," he stated. BI is partnering with various halal centers at universities to strengthen halal product guarantees. For modest fashion development, BI is supporting designers and entrepreneurs through events like the Indonesia International Modest Fashion Festival (IN2MF). This year’s festival focuses on brand awareness and promotes high-end, premium ready-to-wear garments, incorporating Indonesian textiles from eastern regions. In developing the Pesantren economy, BI collaborates with stakeholders to enhance and expand business models in agriculture, fisheries, and livestock within Pesantren communities. "Pesantren have substantial supporting factors such as available land, skilled human resources, and strong community bonds that we need to optimize," Agung noted.
As a regulator, BI is driving policy innovations and financial market instruments as alternative financing schemes for sharia projects. This includes innovative business models to make waqf management more productive. Additionally, digitalization efforts are underway to support both the halal industry and sharia finance. In collaboration with the Indonesian Waqf Board (BWI), BI is developing a super app, "Satu Wakaf Indonesia," to integrate waqf management. Furthermore, BI is focused on increasing sharia economic literacy and education. "Higher literacy levels lead to greater acceptance and use of halal products and sharia finance," Agung explained. The goal is to achieve a sharia economic literacy rate of 50% by 2025, up from the current 28% according to a BI survey in 10 provinces. Achieving this target requires innovative approaches from BI, the National Committee for Sharia Economy and Finance (KNEKS), and the Financial Services Authority (OJK). In conclusion, BI’s strategic focus on these six areas aims to enhance the resilience and growth of Indonesia’s sharia economy, fostering sustainable development and greater economic inclusion.
Source: https://www.antaranews.com/berita/4187271/bi-tekankan-enam-fokus-pengembangan-ekonomi-syariah
