Indonesia: BSI Strengthens the Halal Ecosystem and Optimizes the Potential of the Food and Beverage Industry

Jakarta, 31 October 2024 - Bank Syariah Indonesia (BSI) is strengthening its position as a market leader in Islamic banking by continuing to explore the business potential of the halal ecosystem across various industry sectors, the halal food and beverage industry being one of them.

BSI Deputy President Bob T. Ananta said that developing the halal ecosystem is one of the company's priorities for increasing the market share of Islamic financial services in Indonesia.

He said: 'Indonesia's halal ecosystem has huge potential. BSI is committed to continuing to optimize the potential of the halal food and beverage industry, encouraging Indonesia to become a global halal food producer,' during the ISEF (Indonesia Sharia Economic Festival) 2024 event organized by Bank Indonesia in Jakarta.

The actual output value of Indonesia's halal industry reaches US$264.92 billion, about Rp 5,000 trillion. Of this, the halal food and beverage industry accounts for about 78.9%, about US$209.04 billion.

Bob added: 'In addition to its huge potential, the food and beverage industry also provides a wide multiplier effect for the economy. Therefore, for the well-being of the nation, BSI increasingly emphasizes realizing this potential through a strong Islamic ecosystem. We hope Indonesia becomes not only a consumer, but also a world center for halal food and beverage production.'

To support the halal ecosystem, BSI has taken various strategic measures, including strengthening the national halal food and beverage industry by strengthening the Islamic ecosystem, including the comprehensive supply chain.

These measures include conveniently paying halal certification fees through virtual accounts, and providing comprehensive solutions for halal industry players. BSI also cooperates with various agencies, such as UPPPH and BPJPH, to strengthen the national halal certification system.

Moreover, BSI has provided free halal certification services to 1,000 micro, small and medium-sized enterprises, opened KHAS (Halal, Safe and Healthy Cuisine) zones, and worked in synergy with Halal Inspection Bodies (LPH) to create a more inclusive and sustainable halal ecosystem.

In addition, BSI sent five micro, small and medium-sized enterprises (MSMEs) under its guidance to participate in the 'Wonderful Indonesia 2024' festival held in Jeddah, Saudi Arabia, from 26 to 28 September 2024, to break into international markets. Three of these five MSMEs are from the halal food and beverage sub-industry.

As of September 2024, BSI's financing for several economic sectors that can be classified as the halal industry was Rp 22.179 trillion, accounting for 9.06% of BSI's total financing. Some of these halal economic sectors include food and beverages, fashion, pharmaceuticals and cosmetics.

Among them, industries such as food and beverages, fashion, pharmaceuticals and cosmetics have the highest financing. Meanwhile, BSI's financing in the halal food and beverage industry reached Rp 10.284 trillion. As BSI's business grows, the number of BSI customers is also increasing, currently exceeding 21 million people, indicating that people's interest in halal services and products continues to grow.

Digital service optimization

BSI has demonstrated its commitment to strengthening the halal food industry through various practical strategic cooperations. Today (31/10), BSI officially signed a digital service optimization memorandum of understanding with CV Amanda (Amanda Brownies). The signing of this cooperation was part of the 2024 Indonesia Sharia Economic Festival (ISEF) series of events held at JCC Senayan in Jakarta.

This cooperation aims to expand the access and services of Islamic products in the halal food industry. Amanda Brownies chose BSI as its main Islamic banking partner to support various business transaction needs, from financial management to daily operational transactions.

CV Amanda director Joko Ervianto said on another occasion that this agreement reflects the company's commitment to developing Indonesia's halal industry.