REPUBLIKA.CO.ID, JAKARTA -- Coordinating Minister for Economic Affairs Airlangga Hartarto said sharia economy and finance play a strategic role in promoting sustainable economic growth amid increasingly complex global challenges.

“The themes raised at ISEF are particularly relevant, where we seek to accelerate the economy amid increasingly complex global challenges, and sharia economics and finance have a strategic role to promote sustainable growth,” said Menko Airlangga at the opening of Indonesia Sharia Economic Festival (ISEF) 2024 in Jakarta on Wednesday (30/10/2024).

Bank Indonesia (BI) again held ISEF on October 30 to November 3, 2024 at JCC Senayan Jakarta, which raised the theme Synergy of Sharia Economy and Finance in Strengthening Resilience and Sustainable Economic Growth.

According to Menko Airlangga, the economic and financial development of sharia in Indonesia is very potential because Indonesia is a country with 87 percent Muslim population.

Indonesia's sharia economy is ranked third globally after Malaysia and Saudi Arabia, based on the State of the Global Islamic Economy (SGIE) 2023 report.

“Our President's directive calls for sharia financial investments, halal food, fashion fashion, pharmaceuticals, cosmetics, to Muslim-friendly tourism,” he said.

In addition, he said that the contribution of sharia in gross domestic product (GDP) reached 48.71 percent, and the sharia economy also supports the empowerment of micro, small and medium-sized enterprises (MSMEs).

In the National Long Term Development Plan (RPJPN) 2025-2045, the government targets Indonesia gold with the foundation of strong economic growth. For this reason, continued Menko Airlangga, the vision of developing productive sectors such as sharia and halal products is very important.

“In order to achieve the second Asta Cita vision, the administration of Mr. President in the Red and White Cabinet is determined to foster national independence, and one of them is the advancement of sharia economics,” he said.

In order to support the wider development of sharia economy and finance, he said Sharia-based People's Business Credit is also constantly being improved, and synergies and a more inclusive ecosystem are also needed.

“I hope that ISEF's success results in innovative and productive work, so that this sharia economic and financial system will continue to develop,” he said.

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