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"Indonesia Aims to Create the World's Largest Shariah Digital Payment"

Indonesia Ambitious to Create the World's Largest Sharia Digital Payment

Dream - The National Committee on Sharia Economic and Financial Affairs (KNEKS) has a commitment to promote inclusive Sharia finance in Indonesia. This effort is carried out by formulating various strategies and plans that are outlined in the masterplan for the halal industry in Indonesia 2023-2029.

"InsyaAllah in the future, we will be launching the master plan for the Indonesian halal industry 2023-2029. In that Indonesian halal industry master plan, I remember, just a leak, there is inclusive sharia finance."

The Director of Halal Industry Products, Afdhal Aliasar, expressed in the event of Shariah Economy Talk Show (BESTIE) with the theme "Shariah Transactions, Necessity or Lifestyle?" in Jakarta, Wednesday, 27 September 2023.

               

Afdhal explained that one of the important work programs in the halal industry masterplan will be included in the Government Work Plan, which will then be incorporated into the National Medium-Term Development Plan (RPJMN), and then included in the National Long-Term Development Plan (RPJPN). Once it is included as a government program, the Ministry, institutions, and regional governments must be able to implement the program.

"The local government will be able to create a program to encourage more inclusive Islamic finance in their respective regions. Because the program has been provided, it just needs to be welcomed, let's say, by Link Aja Syariah to enter. So it can collaborate with the local government."

"revealed Afdhal."

               

Afdhal explains that the masterplan aims to amplify the digitization of Sharia in existing transactions within the government. For example, future regional income, fees, contributions, taxes, and other sources of revenue can use the infrastructure of a more inclusive Sharia financial system.

Indonesia Ambitious to Create the World's Largest Sharia Digital Payment

He mentioned, for example, regional development banks that have many branches throughout Indonesia, including remote areas. They may need digitization, investment, or expensive digital expertise, and can collaborate with Islamic financial business actors. "The strategy has been prepared, then it's up to the business actors, Link Aja Syariah and its ecosystem can take advantage of it," he said.

Afdhal does not deny that there will be competition among Islamic financial industry players in the future. However, he hopes that the competition can be carried out competitively, healthily, and mutually supportive. "How can these threads be sewn together using the aforementioned strategies and digitalization. So, God willing, KNEKS will continue to encourage the digitalization of the Islamic economy wherever it may be, and we hope not only in Indonesia," he explained.

Indonesia Ambitious to Create the World's Largest Sharia Digital Payment

One of the biggest programs of the halal industry master plan is for Indonesia to have global branding. More specifically, Indonesia also aims to have the largest syariah-compliant digital payment in the global market.

"Indonesia is also one of the largest programs in our halal industry master plan, we want to have global branding. And we see the birth of the first Link Aja Syariah in Indonesia for digital e-wallet, why not have the confidence to become the largest digital payment globally in a shariah-compliant manner,""

clear Afdhal.

               
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