BI persistently pushes for transformation of sharia economy

Bank Indonesia (BI) has made unwavering efforts to boost transformation of the sharia economy and finance (EKSyar) as a new source of economic growth.

“The EKSyar transformation was conducted optimally to contribute to the national economic growth,” BI Governor Perry Warjiyo remarked at the launch of the 2020 Sharia Economic and Financial Report (LEKSI) book held virtually on Monday.

Warjiyo noted that the publication of LEKSI 2020 was part of BI’s real support in driving transformation of the sharia economy and finance (EKSyar).

The theme raised in the report is “Synergize in Building Sharia Economics and Finance”. The theme is deemed pertinent to strengthen the momentum of national economic recovery, including EKSyar, in the wake of the COVID-19 pandemic.

LEKSI not only offers an overview of the conditions of EKSyar in Indonesia but can also assist in the formulation and evaluation of policies for the development of EKSyar.

The 2020 LEKSI outlines that the EKSyar transformation is conducted through development of the halal value chain ecosystem in leading sectors as a new source of economic growth.

The basic principle of EKSyar is principally to encourage the optimal utilization of all resources and technology that will always lead to productive economic activities.

In this case, the role of EKSyar’s policy in national economic recovery encompasses three aspects, with the first being, through its role as part of BI’s main policy mix, including in the synergy between authorities.

Second, through its role in supporting the resilience of sharia businesses through sharia economic empowerment based on the principle of partnership, both in sharia MSMEs as well as in Islamic boarding schools.

Third, through its role in the optimization of Islamic social finance (zakat, infaq, alms, and waqf) in accordance with the principles of its use, which inclusively mitigates increased poverty and widening inequality.

LEKSI is one of the programs to boost EKSyar literacy in Indonesia in addition to serving as a medium to demonstrate real commitment and support from BI in the process of transformation and development of EKSyar in Indonesia.

LEKSI contains details of various information, but in broad outline, it can be grouped based on four aspects: the EKSyar development policy, EKSyar development and program, the development and program of Islamic finance, as well as the EKSyar education and outreach.

 

Source: Antara News

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