Islamic Finance, new source of National Economic Growth

The implementation of the ecosystem of halal value chain through the development of the economy, Shariah Micro, Small Medium Enterprises (MSMEs) to the industries, especially food, fashion, cosmetics, tourism etc.
Jakarta Economic development will continue to be encouraged along with Islamic finance, which is the new source of national economic growth, Bank Indonesia Governor Perry Warjiyo has said. "The implementation of the ecosystem of halal value chain through the development of the economy of sharia Micro Small Medium Enterprises (MSMEs) to the industries, especially food, fashion, cosmetics, tourism and pharmaceuticals, and the halal industry campaign will continue to be strengthened," Warjiyo was quoted as saying on the Bank Indonesia's website in Jakarta.In addition to supporting the strengthening of national Shariah banking, a deepening of the Islamic financial market will continue to be accelerated to strengthen liquidity management and Islamic financial he explained.

In the pillars of Shariah economic and financial development, Bank Indonesia has set five achievement targets, namely sharia business improvement, sharia financial financing, financial market depth, literacy level and international standing, Perry said in his remarks at the 2019 Annual Meeting of Bank Indonesia with the theme "Synergy, Transformation, and Innovation& Research Towards Advanced Indonesia" The main indicators of its development include the growth of sharia businesses, sharia financing, sharia money market, literacy index and international initiation.

Optimization of sharia social finance in the zakat and waqf sectors will be encouraged to increaseinclusive sharia financing.Besides, efforts to make Indonesia a major reference in the global Islamic economy and finance will also be encouraged.

The series of activities of the Indonesia Sharia Economic Festival (ISEF) including the Sharia Economic Festival (FeSyar) in three regions of Indonesia, which has been successful, will now be held every year on a joint platform to advance Islamic economics and finance in Indonesia.The popularity of Islamic finance amid the community needed to be improved because the growth rate was considered to be stagnant and not too optimal, a member of the House of Representatives Commission, XI AnisByarwati, earlier said.A new ambassador can popularize Shariah finance and articulate in an easy and popular language to the public about the economy of Shariah finance.