Heaptalk, Jakarta — Bank Indonesia (BI) has made a significant move by announcing its collaboration with the Indonesian Ulema Council (MUI) to expedite the development of Indonesia’s Sharia economic and financial ecosystem.
This collaboration includes developing Sharia financial markets, monetary instruments, and MSMEs, strengthening the public economy and the implementation of halal product guarantees, as well as digitalizing Sharia financial management. This initiative also includes support for the determination of fatwas and consultation on fulfilling Sharia principles on BI policy instruments and proposals related to Sharia finance.
Representatives of both parties, BI Governor Perry Warjiyo and MUI General Chair KH Anwar Iskandar, signed an MoU on cooperation in Jakarta (05/07). Vice President Ma’ruf Amin, the Chair of the MUI Advisory Council, witnessed this agenda.
Supporting sustainable national economic growth
In his remarks, Ma’ruf Amin appreciated and supported BI and MUI’s initiatives to accelerate the development of the Sharia economic ecosystem in Indonesia. He emphasized the importance of consistently building close communication and cooperation for the benefit of the people and continuing to contribute to advancing the development of the Sharia economy in Indonesia. Furthermore, broader Sharia economic and financial empowerment is expected to support inclusive and sustainable national economic growth.
The collaboration between BI and MUI, which will last for four years from 2024-2028, is part of sharpening the role of Bank Indonesia following the mandate contained in the Financial Sector Development and Strengthening Law (P2SK). Going forward, Bank Indonesia is committed to strengthening strategic cooperation between relevant institutions to support sustainable economic growth through Indonesia’s achievement as the center of the world’s halal industry. This collaboration is expected to deepen the contribution of BI representative offices at home and abroad in accelerating the development of the Sharia economy in Indonesia.
