The Sharia economic and halal industries are recognized as integral components of the Islamic economic ecosystem, crucial in supporting Indonesia's ambition of becoming "Indonesia Emas 2045" (Golden Indonesia 2045). Dean of the Faculty of Economics and Business at the University of Indonesia (FEB UI), Teguh Dartanto, highlights the robust performance of Islamic economics and finance despite global and national economic uncertainties. He supports Vice President Ma’ruf Amin's ambition to accelerate Indonesia's vision of being a leading center for Sharia economics and finance globally. As 2024 marks a new chapter for Indonesia, Teguh emphasizes the need for inclusive, resilient, sustainable development with high ethical and moral standards. He asserts that Sharia economics, finance, and halal businesses must play a pivotal role in driving Indonesia toward its Golden 2045 vision. Teguh underscores the universal nature of Islamic economics, rooted in justice, cooperation, collaboration, goodness, and balanced, sustainable development. Vice President Ma’ruf Amin envisions the future of Indonesia shaped by innovation and technology, emphasizing the role of higher education institutions like FEB UI in consistently generating ideas, innovation, and skilled human resources.
Indonesia, as the world's largest Muslim democracy, is positioned to lead global Sharia economic development and serve as a model for Islam and progress, according to Ma’ruf Amin. The rector of UI, Ari Kuncoro, notes that the uncertain global economic conditions will continue to be challenged by geopolitical conflicts in Europe and the Middle East. Highlighting the potential of Sharia economics as a growth engine for the domestic economy, Ari stresses the importance of leveraging all possible growth alternatives amid uncertainties. The positive trend in various sectors of Indonesia's Sharia economy, including Islamic banking, social finance, and halal industries, demonstrates notable growth. The Sharia capital market is experiencing significant growth, witnessed by rising numbers of investors and market capitalization. The social finance sector, particularly the consistent increase in Zakat, Infaq, Sadaqah, Wakaf (ZISWAF) funds in the last five years, underscores the robustness of Islamic social finance. In the halal industry, all four halal value chain sectors contribute 25% to the GDP with a growth rate of 4.3%, aligning with Indonesia's overall GDP growth. The government's consistent efforts, exemplified by the master plan for Sharia economics and finance 2019-2024, contribute to this success.
