Sharia Finance Drives Economic Growth Momentum, Bank Indonesia Sulut Describes Three Main Programs

JAKARTA - Bank Indonesia is encouraging the halal trend in North Sulawesi (Sulut) Province through activities leading to the 2022 Sharia Economic Festival (Fesyar) in the area.

"BI actively contributes to the development of the Islamic economy and finance in Indonesia," said Head of Bank Indonesia (BI) North Sulawesi Arbonas Hutabarat, quoted by Antara, Saturday, July 17.

Arbonas explained that Islamic economic and financial policies are one of BI's policy mixes to maintain stability and encourage the momentum of national economic growth.

This BI policy is realized in three main programs. First, the development of the sharia economy by developing a halal ecosystem, value chain or value chain in the national halal industry.

This, he said, was to encourage halal products, such as halal food, Muslim fashion, and halal tourism, to be marketed to foreign consumers, which would encourage exports and a foreign exchange surplus.

Second, he said, to deepen the Islamic financial market, among others, through the issuance of a number of instruments in the Islamic money market.

Third, he continued, conducting a campaign to encourage a halal lifestyle that supports the halal value chain, including by organizing the Indonesia Sharia Economic Festival (ISEF) and the Sharia Economic Festival (FESyar).