Islamic Bank Financing in Support of Indonesia’s Halal Industry Could Reach IDR 714 Trillion: MES

In a statement issued on the 5th of July 2021, Hery Gunardi, General Treasurer of the Islamic Economic Community (MES) Central Executive, has stated that the potential of the Halal industry in Indonesia that could be financed via Islamic banks lies between IDR 420 trillion and IDR 714 trillion. Islamic banking is also expected to play a crucial role in strengthening Indonesia’s sustainable Halal food and Halal fashion ecosystem.

Why it Matters?

Gunardi elaborated that although the financing potential was such, the realisation was below the minimum level. Sapta Nirwandar, Chairman of the Indonesia Halal Lifestyle Center and member of the MES Central Expert Board, noted that Indonesia dominates the Halal economy as a pure consumer. Non-Muslim coun...