lifestyle

Bank Indonesia Strategies To Support Halal Lifestyle For Young Families

The concept of a halal lifestyle is fundamental for Muslims, serving as a guiding principle in all aspects of life. This encompasses not only the halal nature of food and drink but also the sourcing of ingredients and the adherence to halal practices in business and finance. Dede Rosidah, known as Mamah Dedeh, emphasizes the importance for young families to embrace a halal lifestyle in accordance with the teachings of the Quran and the practices of the Prophet.

"What we consume, wear, and the capital we possess should be based on hallalan thayyiban. Therefore, let us return to hallalan thayyiban in terms of legality, ensuring that our means of acquisition are halal and the outcomes are thayyib [good]," she stated in an Instagram post by Bank Indonesia @bank_indonesia, quoted on Monday, November 4, 2024.

To facilitate this, Bank Indonesia (BI) has outlined four strategies to support the halal lifestyle of Muslims. First, the introduction of the Halal Traceability application, which allows for the tracking of product ingredients to ensure their halal status. For instance, processed food items such as sausages and meatballs can have their ingredient sources and production processes verified for halal compliance.

Second, the enhancement of the sharia business ecosystem through the digitalization of pesantren (Islamic boarding schools). This includes the digitalization of payment systems, marketing, reporting units, financial record-keeping, and the development of pesantren accreditation. Third, the creation of Sharia Restricted Investment Account (SRIA) products to support financing for sharia banking investments.

The SRIA, based on mudharabah muqayyadah, represents an investment scheme where the risks are borne by the investor. The SRIA product provides a Sharia-compliant investment alternative that promotes transparency and risk-sharing between banks and investor clients.

Through this development, it is anticipated that Sharia banking investment products will become increasingly popular among the public. Consequently, Sharia banks can attract funds from investment clients and allocate them to specific projects based on profit-sharing agreements.

Fourthly, the National Strategy for Literacy and Inclusion in the Economic and Financial Sector of Indonesia (SNLIEKSI) aims to enhance the understanding of Sharia economics. This initiative will foster greater literacy and inclusion regarding Sharia economic and financial matters, which can be applied in daily life.

During the Indonesia Sharia Economic Festival (ISEF) 2024, Bank Indonesia highlighted that four halal lifestyle approaches could advance the Sharia economy and finance (EKsyar) in Indonesia, despite the ongoing global challenges affecting the domestic economy.

Governor of Bank Indonesia, Perry Warjiyo, stated that the theme of ISEF 2024, "Synergy of Sharia Economy and Finance in Strengthening Resilience and Sustainable Economic Growth," reflects a strong collaborative effort to establish the sharia economy as a new asset to drive Indonesia's economic progress.

"For 11 years, ISEF has positioned Indonesia's financial economy as the largest and most integrated, becoming a source of pride for all of us. It brings us closer to achieving our vision of becoming one of the leading players in the global halal market," he remarked 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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Tag: Bank Indonesia Support Halal Lifestyle Young Families