The Otoritas Jasa Keuangan (OJK) has projected Indonesia's halal economy potential over the next 5 years, reaching IDR 9.055 trillion by 2028 according to the Global Islamic Economy Indicator Score (GIEIS). Siti Yayuningsih, Executive Researcher at the OJK Institute, revealed this during IDEA Talks Vol.4 on Wednesday, March 13, 2024. Out of this total, the Sharia banking sector is expected to absorb around IDR 3.000 trillion in assets.
Siti emphasized that financing within the halal industry has the potential to boost Sharia banking assets through credit channels. She mentioned, "The maximum potential that can be absorbed by these Sharia industry mechanisms is around IDR 3.000 trillion. If the Sharia industry is willing to utilize it, it can be through both asset and liability sides, including third-party funds (DPK) and credit." In detail, Indonesia's halal economy potential by 2028 in the Islamic finance sector amounts to USD 339.87 billion, while halal food reaches USD 166.81 billion. Muslim travel follows with USD 15.81 billion, modest fashion with USD 45.73 billion, pharmaceuticals & cosmetics with USD 18.55 billion, and media and recreation totaling USD 231 billion.

Source: https://infobanknews.com/potensi-ekonomi-halal-ri-diramal-capai-rp9-055-triliun-di-2028/amp/