Selasa 27 Feb 2024 01:08 WIB

Central Bank Strategy to Strengthen Indonesia Sharia Economy

The first program is the development of the halal economy and industry.

Rep: Rahayu Subekti/ Red: Erdy Nasrul
Deputy Governor of Bank Indonesia Juda Agung.
Foto: Republika/Prayogi
Deputy Governor of Bank Indonesia Juda Agung.

REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) invites all Sharia economic activists to strengthen the Islamic economic and financial foundations this year. Deputy Governor of BI, Juda Agung, said that this can be done through a number of potential aspects, namely halal industry, sharia finance, institutional strengthening, and sharia economic and financial literacy.

“From BI we will focus on four main programs in strengthening the foundation of Sharia economy and finance,” Juda said at the Launch of Indonesian Sharia Economic and Financial Review (KEKSI) 2023 and Sharia Economic and Financial Outlook (SheFO) 2024 at BI Building, Monday (26/2/2024).

Baca Juga

Juda said that the first program is the development of the sharia economy and industry. By 2024, the development of the halal sector will be focused on the halal food and beverage sector as well as Muslim fashion or modest fashion.

Regarding halal food, Juda said his ecosystem development strategy will be carried out through first strengthening and expanding the ecosystem model of agriculture, fishing, and animal husbandry in boarding schools. Then also through strengthening the support of halal products including increasing the capacity of abattoirs and chicken abattoirs to the development of the ecosystem for the export of halal products.

For Muslim fashion, Juda said the holding of Indonesia International Modest Fashion Festival (IN2MF) will also be improved. “We will continue to strengthen the branding and promotion of IN2MF 2024 with a focus on brand awareness to carry ready-made products with high end and premium segments using Indonesian wastra,” Juda said.

The second program is the acceleration and commercial and social finance of sharia. The development of the sharia money market including SUKBI and SUVBI instruments will continue this year.

“We will also focus on strengthening sharia finance in various efforts through the innovation of financial products supporting sharia financing, the development of blended commercial and social finance. We have the OJK government and the sharia banking industry set up a sharia banking function as a nazir and also the development of investment accounts,” Juda explained.

The third program is the digitization of industry and sharia finance. Juda revealed that digitization will also be the main strategy of BI in the social development of sharia 2024.

“Indonesia's one-waqaf platform launched in ISEF 2023, we will strengthen and optimize from the user side and the number of people on boarding on the platform and also expand the scope of our platform to include not only the waqaf aspect but also the zakat infak and alms aspects,” Juda said.

The fourth program is the strengthening of literacy and education of sharia economics. In 2024, Juda ensures BI will continue to improve the literacy of sharia economy by organizing Sharia Economy Festivals in three regions of Indonesia.

“We will also continue to push ISEF with innovations including an increasingly inclusive educational outreach going forward,” Juda said.

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