Development Of Halal Industry Is The Key To A Sustainable Sharia Economy

Vice President Ma'ruf Amin during the National Seminar of Sharia Economics in Tangerang, Banten, Friday (27/10/2023). (ANTARA)

This encourages Indonesia to strengthen its position as a global leader in the halal sector, especially in the field of halal food production and fashion as reflected in Indonesia's position in 2nd place from 4th place in the development of the global Islamic economic and financial ecosystem.

Indonesia has significantly achieved the increase in the State of the Global Islamic Economy (SGIE) ranking from the increase in the halal food industry.

Deputy Governor of BI, Doni P. Joewono conveyed three keys that can support improving halal sector rankings, namely increasing halal food exports to member countries of the Organization for Islamic Cooperation (OKI), launching a halal product codification system and digitizing halal certification.

Doni emphasized that Indonesia has the opportunity to become a leading player in the halal industry, supported by the potential of a large halal industry in the future.

"For this reason, the halal industry is not only a sector but can become a gateway to economic empowerment, job creation, and sustainable development," he explained in his statement, Saturday, October 28.

As a form of commitment to advance the halal industry, Bank Indonesia together with institutions/authorities have compiled the Master Plan for Indonesian Halal Industry Products (MPIHI) 2023-2029 which can be used as a guideline in formulating policies, implementing programs, and monitoring indicators of the development of the halal industry in Indonesia.

Furthermore, Doni emphasized three strategies to accelerate the development of the halal industry in Indonesia. First, digitalization that is integrated from upstream to downstream forms a digital ecosystem that encourages excise growth through online platforms.

Second, the importance of effective and complete planning for halal businesses is supported by accurate availability of information and data.

Furthermore, Doni conveyed that the last strategy is synergy and collaboration supported by all parties related to the government, sharia business actors, and various elements of the community who have an interest in encouraging the development of Indonesia's halal industry in the future.

In line with that, Deputy Governor Doni P. Joewono together with the Chairman of the Indonesia Halal Lifestyle Center (IHLC) and Managing Director Dinar Standard launched the book The Indonesian Halal Market Report and the Sustainable Fashion Book.

This launch is the support of Bank Indonesia and related parties for sustainable practices in the halal industry, especially fashion and is expected to improve the quality of fashion producers.

In addition, Bank Indonesia in collaboration with the Hajj Financial Management Agency (BPKH) is starting the digital transformation of Hajj management by building and developing quality Hajj service super apps in an end-to-end manner and it is hoped that a digital ecosystem will be formed that will support the acceleration of ex-service growth from other Sharia financial-related sectors and sectors.