Indonesia Central Bank: Accelerate Digitalization of Sharia Finance for Inclusive Growth
ISEF will be held on October 25-29, 2023.
REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) Governor Perry Warjiyo invites all parties to accelerate digitization in the field of sharia economy and finance. It is for inclusive and sustainable growth in the post-COVID-19 economic recovery.
“Allah has always guided us, believe me, and let's think about accelerating digitization in the sharia economy and finance for inclusive and sustainable economic growth,” Perry said at The 9th International Islamic Monetary Economics and Finance Conference (IIMEFC) which was virtually monitored in Jakarta on Wednesday (25/10/2023).
Bank Indonesia will again organize the Indonesia Sharia Economic Festival (ISEF) on 25-29 October 2023. One of the series of ISEF 2023 events is The 9th IIMEFC and call for papers which is an annual activity of the Journal of Islamic Monetary Economics and Finance (JIMF).
Perry said the advancement and empowerment of micro, small and medium enterprises (MSMEs) sharia and non-sharia is one way to advance Indonesia's economy. For this, SMEs need digitization, halal certification, training and upgrading of MSMEs classes from small to medium and large scale.
“Let's focus on developing the economy of our sharia MSMEs, teach them on entrepreneurship, teach them on digitalization and help them to get halal certification, help them to form collective MSMEs so that the economies of scale of our sharia MSMEs can be bigger, more productive and more competitive,” he said.
He said MSMEs can also be trained to develop environmentally friendly ventures, including those related to waste management.
In addition, Perry emphasized the importance of education and literacy about digitalization and entrepreneurship for the community and MSME participants. Most people still don't know about digitalization and entrepreneurship.
BI also continues to implement a very important business policy in the implementation of digitization to fight cyberattacks, illegal gambling, illegal loan financing, so that digitization can be even more beneficial for the economic development of the nation.
Previously, the government targeted as many as 30 million SMEs to enter the digital ecosystem following the development of the sector in the country.
Minister of Cooperatives and Small and Medium Enterprises (SMEs) Teten Masduki said through the digitization of SMEs, local entrepreneurs are expected to develop markets and reach more customers, as well as move up the class.
Meanwhile, the Special Staff of President Putri Tanjung said Indonesia need more digital innovators from the younger generation to advance the economic turnaround of MSMEs.
Putri said that the effort to breed more digital innovators is by cultivating an entrepreneurial mindset or enterpreneurship mindset and adaptive nature to be able to compete in today's economic competition. In addition, according to the Putri, an entrepreneur must be able to capture and create opportunities.
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