Central Bank Strategies in Developing Halal Industry

Central Bank of Indonesia and ISEF Forum

Jakarta – Bank Indonesia (BI) as Central Bank of Republic Indonesia have arranged four strategic in developing Halal industry as part of economic development,. “Those four strategics are developing halal industry, forming strong halal brand, building networking for cooperation, strengthening Islamic finance, and encouraging digitalisation” Sugeng, Deputy Governor of Bank Indonesia, said virtually in opening High Level Seminar on Halal Lifestyle 2020 and soft launching of ISEF Integrated Virtual Platform 2020 at once in Friday (02/10)

Those steps are next focus in developing halal industry and ought to follow by all stakeholder in order to contribute for national economic development.

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Sugeng explained four strategic in developing halal industry in more detail.

Firstly, forming strong halal brand by giving sufficient understanding to people about halal product. For example, halal food is health food.

Secondly, building networking for cooperation among business units. Including in developing islamic boarding school business units which incorporated in Association of Islamic boarding school business economic (Himpunan Ekonomi Bisnis Pesantren/Hebitren)

In 2020, there were hundred business units or SME’s in Islamic boarding school will be integrated through Hebitren to elevate economic scale of Islamic boarding school “This is will elevate eficiency, bargaining position, and encouraging transaction among business units in islamic boarding schools” Sugeng explained

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Thirdly, strengthening islamic finance through integration of social syariah financing and commercial syariah financing.

Fourthly, encouraging digitalisation by creating Indonesia Syariah Creative Industry Platform (Industri Kreatif Syariah Indonesia/Ikra) for example. Ikra have show quality halal products and elevate colaboration for distribution of syariah financing since 2018

Those are implemented through cooperation among Islamic microfinance institution (Baitul Mal Wattamwil) and Syariah Financial Technology by using smart phone application

“There were more that 50 financial technology companies which have distributed syariah finance to nearly Rp 4 bilyun untill July 2020” Sugeng added

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Meanwhile, ISEF Integrated Virtual Platform 2020 (https://isef.co.id) is an effort to  integrated or ISEF activities from, seminar, workshop, technical meeting, talkshow, business coaching, business matching, international showcase,and outlet for shariah busniess actor, syariah islamic finance, and Islamic social financial institution (Zakat Infak shadaqah/Ziswaf)

This platform also an attemp to open wide opportunity for people to follow ISEF activities virtually. Including to trawl strategic partner/buyer/global importer, domestic business actor for collaboration, business linkage and widening market access through cooperation with e-commerce in Indonesia