REPUBLIKA.CO.ID, BANDAR LAMPUNG — Bank Indonesia assessed Sumatra could be the hub of sharia economy. Its geographical aspect has made Sumatra became trade gateway between Indonesia and neighboring countries.

"It can support the development of the national economy, especially the sharia-based economy," Bank Indonesia (BI) deputy governor, Rosmaya Hadi after opening the Lampung Sharia Festival 2018 on Thursday (Aug 2).

Rosmaya asserted that BI has formulated three pillars as main strategy to develop economic and sharia finance. The first pillar was Islamic economic empowerment which focused on the development of the sharia business sector by strengthening the halal value chain.

Then second, the pillar of deepening the Islamic financial market which reflects efforts to improve liquidity management and Islamic financing. Third, the pillar of research and education of sharia economic and finance through various educational programs and socialization.

Also read: Sharia economy reduces disruption to exchange rate stability

Rosmaya said sharia economy and finance also have great potential to be sources of new economic growth in order to improve the structure of current account balance.

"We see that the Islamic economy and finance are new sources of economic growth that can be worked on, but it should be comprehensive," Rosmaya added.

Rosmaya mentioned fabric for fashion with sharia or halal style as example. He said tapis lampung, songket palembang, and ulos medan fabrics have the potency to support modest fashion industry.

The development of the halal clothing industry, Rosmaya said, could be done by strengthening its production. All parties should help to grow optimism among halal fashion producers that they could marketed the products worldwide.

"In addition, halal fashion producers must know that they can not only rely on commercial, use social funds such as infaq, alms and endowments can be utilized to improve their finance," Rosmaya explained.

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