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WL! More e-commerce halal product transactions, BI: most fashion products

JAKARTA – Transactions for halal products through e-commerce will increase in 2021 in both volume and nominal terms. This is a result of the role of digital technology in the development of MSMEs, including Islamic MSMEs and Islamic finance.

As said by the Deputy Director of the Sharia Finance Department of Bank Indonesia (BI), Misha Nugraha Ramadhan, as quoted by Antara, Friday, May 13.

“The consequence of this is an increase in the number of cashless payment methods in all e-commerce transactions. Both in terms of purchases and payments,” Misha said during the “G20 Presidency Side Event: Synergies Seminar on Building Resilient Small and Medium-sized Enterprises Post-Pandemic.”

BI noted that the share of halal products in e-commerce was dominated by fashion products (91.93%), followed by personal care and cosmetics 2.57%, food and beverages 1.66%. and books and stationery 1.81 percent.

Then electronic products accounted for 0.45 percent, automotive and accessories 0.4 percent, and other products 1.2 percent.

Misha said fashion is one of the main sectors of the halal value chain (HVC), along with halal food, agriculture and Muslim-friendly tourism, which has successfully contributed to the revival of the country’s Sharia economy.

“In 2021, these four sectors will grow by 2.11% compared to 2020.” – he said.

Therefore, he believes that the collaboration between ministries/agencies, associations, communities and business entities has yielded positive results in terms of economic growth and Islamic finance in Indonesia.

In BI, economic development and Islamic finance policies are part of policies supporting mainstream policies.

Misha explained that one of the implementations of macroprudential policy is to strengthen small and medium-sized enterprises, including small and medium-sized enterprises subject to Shariah. “BI here is also trying to maintain stability and the way the national economy can grow, especially at a time like this with the country’s economic recovery,” he added.

Tag: ekonomi bisnis bank indonesia umkm e commerce halal