WL! More Halal Product Transactions In E-Commerce, BI: Most Of Fashion Products

Assistant Director of the Department of Sharia Finance of Bank Indonesia (BI) Misha Nugraha Ramadhan (center) while attending the "G20 Presidency Side Event: Synergy Seminar on Building Resilient MSMEs Post Pandemic". (Photo: Doc. Antara)

JAKARTA - Transactions for halal products through e-commerce will increase in 2021, both in volume and nominally. This is the result of the role of digital technology in the development of MSMEs, including Islamic MSMEs and Islamic finance.

As told by the Assistant Director of the Bank Indonesia (BI) Sharia Finance Department, Misha Nugraha Ramadhan, quoted by Antara, Friday, May 13.

"The implication is that non-cash payment methods have also increased in all e-commerce transactions. Both in terms of purchases and payments," said Misha in the "G20 Presidency Side Event: Synergy Seminar on Building Resilient MSMEs after the Pandemic".

BI noted that the share of halal products through e-commerce was dominated by fashion products at 91.93 percent, followed by personal care and cosmetic products 2.57 percent, food and beverages 1.66 percent, and books and stationery 1.81 percent.

Then, electronic products contributed 0.45 percent, automotive and accessories 0.4 percent, and other products by 1.2 percent.

Misha said fashion is one of the main sectors of the halal value chain (HVC) in addition to halal food, agriculture, and Muslim-friendly tourism which has succeeded in encouraging the recovery of the national sharia economy.

"In 2021, the four sectors will experience an expansion of 2.11 percent compared to 2020," he said.

Therefore, he believes that the collaboration of ministries/agencies, associations, communities, and business actors has succeeded in providing positive results for economic growth and Islamic finance in Indonesia.

Within BI, the policy on economic development and Islamic finance is part of the supporting policies for the main policy.

Misha explained that one of the implementations of macroprudential policies is strengthening MSMEs, including sharia MSMEs. "BI here is also trying to maintain stability and how the national economy can grow, especially at a time like this in the era of national economic recovery," he added.