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Indonesia boosts sharia economy to strengthen growth



Indonesia is emphasising the strategic role of sharia economics and finance in driving sustainable economic growth amid complex global challenges. With 87% of its population being Muslim, the country ranks third globally in sharia economy after Malaysia and Saudi Arabia, according to the State of the Global Islamic Economy 2023 report. Bank Indonesia is hosting the Indonesia Sharia Economic Festival (ISEF) from October 30 to November 3, 2024, at the Jakarta Convention Center, aiming to strengthen resilience and sustainable growth. The government’s Golden Indonesia Vision for 2025-2045 includes developing productive sectors like sharia economics and halal products. President Prabowo Subianto has encouraged increased investment in sharia finance and Muslim-friendly industries such as halal food, fashion, and tourism.

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