No.28/225/DKom
Access to capital is key to enhancing the competitiveness of the halal industry. Strengthening Islamic financing to better address the needs of the real sector is essential to unlocking the greater potential of the Islamic economy and increasing its contribution to inclusive and sustainable economic growth. This was conveyed by Bank Indonesia Deputy Governor Solikin M. Juhro at the opening of the Business Deals Ceremony, themed “Synergizing Islamic Financing to Strengthen National Economic Stability and Transformation." The event was part of the 13th Indonesia Sharia Economic Festival (ISEF) 2026, held at the Jakarta International Convention Center (JICC), Jakarta, on Friday (16 October). Also in attendance was OJK Chief Executive of Banking Supervision Dian Ediana Rae.
Indonesia has significant potential to further develop its halal industry. According to the State of the Global Islamic Economy (SGIE) Report 2025/2026, Indonesia ranked fourth globally in the Islamic economy ecosystem, placing first in the modest fashion sector, third in halal food as well as media and recreation, and fourth in halal pharmaceuticals and cosmetics. Expanding access to innovative financing tailored to the needs of these sectors is essential to increasing production capacity, expanding market reach, and strengthening the competitiveness of the halal industry as a driver of national economic growth.
Solikin highlighted three priorities for Islamic financing development: expanding access to Islamic financing for leading halal industry sectors, enhancing Islamic financial inclusion, particularly for micro and small enterprises, and strengthening synergy and collaboration among authorities, financial institutions, and businesses.
“The Business Deals we are witnessing today represent tangible cross-stakeholder collaboration to connect diverse needs, capacities, and resources and foster a more integrated development of the Islamic economy and finance. Each agreement must be followed up consistently to generate measurable and sustainable economic impact," Solikin stated.
Echoing Solikin's remarks, OJK Chief Executive of Banking Supervision Dian Ediana Rae emphasized the importance of strengthening Islamic financing to support real-sector growth and enhance the competitiveness of the halal industry. As of August 2026, Islamic banking financing grew by 11.61% year on year (yoy) to Rp748.7 trillion, while financing quality remained sound, with a gross non-performing financing (NPF) ratio of 2.3%. This positive performance provides an opportunity to expand financing for the halal industry, particularly in food, fashion, tourism, and creative industries, enabling businesses, especially micro, small, and medium enterprises (MSMEs), to improve product quality, build business capacity, and expand market reach. These efforts should be supported by strong governance, risk management, consumer protection, and digital transformation to broaden access to and improve the efficiency of Islamic financial services.
“Synergy among authorities, financial institutions, and businesses must continue to be strengthened to make Islamic financing more accessible and ensure tangible support for halal industry development and inclusive and sustainable national economic growth," Dian stated.
Advancing Financing and Market Access for the Halal Industry
The ceremony forms part of the implementation of SAPA SYARIAH (Synergy in Trade and Islamic Financing), a Bank Indonesia initiative to connect market access with financing access. This initiative is implemented, among others, through the 2026 Islamic Financing Month (Bulan Pembiayaan Syariah/BPS), in synergy with the 2026 PINISI program (Acceleration of National Financial Intermediation). The program comprises three stages: Islamic financing education to enhance businesses' understanding of financing options; business linkages to strengthen business capacity and facilitate access to financing; and business matching to consolidate commitments and facilitate the realization of partnerships.
The ceremony consolidated various commitments arising from the preceding education and business linkage activities. The signing of several agreements during the ceremony recorded a total value of approximately Rp27.43 trillion. On the trade front, Letters of Intent (LoIs) for partnerships between MSMEs and prospective buyers amounted to approximately Rp9.78 billion. Islamic money market and foreign exchange transactions reached approximately Rp5.32 trillion, comprising transactions involving Islamic Fund Management Certificates (Sertifikat Pengelolaan Dana Berdasarkan Prinsip Syariah/SiPA) in foreign currencies and Rupiah, Islamic hedging transactions, and Sharia Restricted Investment Account (SRIA) transactions. Financing for strategic projects reached Rp19.40 trillion, covering Sharia Public-Private Partnership (PPP) projects, public housing financing through the Housing Financing Liquidity Facility (Fasilitas Likuiditas Pembiayaan Perumahan/FLPP), and Islamic micro-housing financing partnerships. In addition, Islamic financing totaling Rp499.75 billion was allocated to MSMEs and halal startups, while financing for halal corporations exceeded Rp2.2 trillion. Through a blended finance scheme, a Cash Waqf Linked Sukuk (CWLS) agreement valued at Rp4.45 billion was also reached. These achievements demonstrate how expanded market access and Islamic financing, through both commercial and social finance, can work hand in hand to support business development.
Going forward, Bank Indonesia will continue to strengthen synergy with stakeholders to develop innovative and inclusive financing schemes tailored to business needs. Integrating market access and financing is expected to enhance business capacity, strengthen the competitiveness of the halal industry, and generate added value for the national economy.
Visit ISEF 2026 from 14–18 October 2026 at the Jakarta International Convention Center (JICC), Jakarta, to explore opportunities for developing the Islamic economy and finance, including expanding financing access for MSMEs and the halal industry to enhance business competitiveness and support inclusive and sustainable economic growth. Further information is available at www.isef.co.id.
Jakarta, 16 October 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
