Bank Indonesia To Promote Halal Lifestyle For Young Families

A halal lifestyle is super important for Muslims, acting as a key principle that influences every part of their lives. It’s not just about what they eat and drink; it also involves how ingredients are sourced and following halal guidelines in business and finance. Dede Rosidah, or Mamah Dedeh, highlights how crucial it is for young families to adopt a halal lifestyle, aligning with the teachings of the Quran and the Prophet’s practices.

She mentioned in an Instagram post from Bank Indonesia (@bank_indonesia) on November 4, 2024, that everything we consume, wear, and own should be based on hallalan thayyiban. She urged everyone to ensure that their means of acquiring things are halal and that the results are good.

To help with this, Bank Indonesia (BI) has come up with four strategies to promote a halal lifestyle among Muslims. First up is the Halal Traceability app, which lets people track product ingredients to confirm they’re halal. For example, you can check the sources and production methods of processed foods like sausages and meatballs to make sure they meet halal standards.

Next, they’re working on boosting the sharia business ecosystem by digitizing pesantren (Islamic boarding schools). This includes modernizing payment systems, marketing, reporting, financial record-keeping, and even creating a system for pesantren accreditation. Lastly, they’re introducing Sharia Restricted Investment Account (SRIA) products to help fund sharia banking investments.

The SRIA is an investment scheme rooted in mudharabah muqayyadah, where the investor takes on the risks. It offers a Sharia-compliant investment option that emphasizes transparency and shared risk between banks and their clients.

This development is expected to boost the popularity of Sharia banking investment products among the public. As a result, Sharia banks can draw in funds from investors and channel them into specific projects through profit-sharing agreements.

Additionally, the National Strategy for Literacy and Inclusion in the Economic and Financial Sector of Indonesia (SNLIEKSI) is designed to improve understanding of Sharia economics. This initiative aims to promote better literacy and inclusion in Sharia economic and financial topics that can be used in everyday life.

At the Indonesia Sharia Economic Festival (ISEF) 2024, Bank Indonesia pointed out that four halal lifestyle approaches could help advance the Sharia economy and finance (EKsyar) in Indonesia, even with the global challenges impacting the local economy.

The Governor of Bank Indonesia, Perry Warjiyo, shared that the theme for ISEF 2024, "Synergy of Sharia Economy and Finance in Strengthening Resilience and Sustainable Economic Growth," highlights a strong teamwork approach to making the sharia economy a key player in boosting Indonesia's economic development.

"For 11 years, ISEF has established Indonesia's financial economy as the largest and most integrated, which is something we can all take pride in. It brings us closer to our goal of becoming a major contender in the global halal market," he said during the Opening Ceremony of the Indonesia Sharia Economic Festival (ISEF) 2024 at the Jakarta Convention Center (JCC) on Wednesday, October 30, 2024.

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