Potensi Besar Ekonomi dan Keuangan Syariah Nasional: Ini Saatnya Bangunkan “Raksasa yang Tertidur”!

Summary

Indonesia, with its large Muslim population, is emerging as a key player in the global Islamic economy and finance sector. Despite being a major importer of halal food, Indonesia ranks 3rd in the global Islamic economy rankings, showing significant potential for growth. Key sectors driving this growth include halal food, tourism, and fashion. Bank Indonesia's strategic initiatives and the Indonesia Syariah Economic Festival (ISEF) play a vital role in expanding Islamic finance and promoting halal industries. As global demand for halal products rises, Indonesia is poised to become a global hub for Islamic finance.

Takeaways

• 😀 Indonesia is considered a 'sleeping giant' in the global Islamic Economy and Finance sector, holding vast untapped potential.
• 😀 Despite this potential, Indonesia remains the world's largest importer of halal food, indicating a gap between potential and current performance.
• 😀 According to the 2023 State of the Global Islamic Economic (SGIE) report, Indonesia ranks 3rd globally, showing improvement from 2022.
• 😀 Interestingly, non-Muslim-majority countries such as Singapore and the UK are also making strong strides in Islamic finance, highlighting global competition.
• 😀 The key principles of Islamic Economy—justice, transparency, and sustainability—are increasingly appealing to global markets, contributing to its growing significance.
• 😀 Countries like Thailand, South Korea, Japan, China, Australia, Brazil, and the UK are rapidly optimizing their Islamic Economy sectors.
• 😀 Indonesia's large Muslim population (207 million or 87.2% of the total population) positions it as a major player in the global halal market.
• 😀 The Islamic Economy in Indonesia is projected to grow by 4.7% to 5.5% year on year in 2024, a significant increase from the 3.93% growth in 2023.
• 😀 Key sectors driving growth in Indonesia's Islamic Economy include halal food, Islamic tourism, and fashion.
• 😀 The global Muslim consumer market is projected to reach $2.8 trillion by 2025, presenting immense growth opportunities for Indonesia's halal industries.
• 😀 Bank Indonesia is supporting the development of the Islamic Economy through three key pillars: strengthening the halal product ecosystem, Islamic finance, and promoting literacy and halal lifestyles.
• 😀 The Indonesia Sharia Economic Festival (ISEF), hosted by Bank Indonesia for the past 10 years, serves as a vital platform for promoting halal products and connecting Indonesian businesses with global markets.

Q & A

What is the significance of Indonesia in the global halal economy?

Indonesia is considered a 'sleeping giant' in the global halal economy due to its large Muslim population (87.2% of the total population) and its growing potential in sectors like halal food, Islamic finance, and other halal industries. Despite this potential, it remains one of the largest importers of halal food.

What is the State of the Global Islamic Economy (SGIE) report?

The SGIE report, published annually, ranks countries based on their performance in the global halal economy. It covers sectors such as halal food, Islamic finance, and the halal lifestyle. The report helps gauge how nations are adopting Islamic economic principles.

Which non-Muslim-majority countries have made strides in Islamic economics?

Several non-Muslim-majority countries like Singapore, the UK, Thailand, South Korea, Japan, China, Australia, and Brazil have actively engaged in Islamic finance and halal economic activities. These countries are competing for a higher rank in the SGIE report.

How did Indonesia perform in the 2023 SGIE rankings?

Indonesia ranked third in the 2023 SGIE rankings, moving up one position from 2022. This reflects the country's growing influence and efforts in the halal economy.

What are some key sectors driving Indonesia's Islamic economy?

Key sectors driving Indonesia's Islamic economy include halal food and beverages, halal tourism, and modest fashion. These sectors align with the country's strengths and the global demand for halal products and services.

What is the projected growth of Indonesia's Islamic economy in 2024?

Indonesia's Islamic economy is projected to grow by 4.7% to 5.5% year-on-year in 2024, an increase from 3.93% in 2023. This growth highlights the increasing potential of the country's halal sectors.

Why is Indonesia referred to as a 'sleeping giant' in the halal economy?

Indonesia is referred to as a 'sleeping giant' due to its massive Muslim population and the untapped potential in its halal economy. Despite its large domestic market and favorable demographic, Indonesia has yet to fully capitalize on the opportunities in Islamic finance and halal industries.

What is the role of Bank Indonesia in promoting the halal economy?

Bank Indonesia plays a key role in promoting the halal economy by implementing policies in three main areas: strengthening the halal product ecosystem, enhancing Islamic finance, and boosting literacy and inclusion related to halal lifestyles.

What is the Indonesia Syariah Economic Festival (ISEF)?

The Indonesia Syariah Economic Festival (ISEF) is an annual event organized by Bank Indonesia, aimed at promoting the growth of the Islamic economy. It includes various activities, such as business networking, showcasing Islamic economy products, and offering opportunities for businesses to expand in the global market.

How does Indonesia plan to position itself as a global leader in the halal economy?

Indonesia aims to position itself as a global leader in the halal economy by leveraging its large Muslim population, promoting key sectors like halal food and fashion, and hosting events like ISEF to connect with international players in the halal industry.