The event was held from Oct 25 to 29 , 2023 , at the Jakarta Convention Centre ( JCC ), focusing on “ Accelerating Sharia Economy and Finance through Digitalisation for Inclusive and Sustainable Growth ”.

Press conference leading to ISEF 2023 .

ISEF 2023 featured an impressive total of 793 exhibitors representing Indonesia and 20 neighbouring countries . It occupied an area of 10,000 square metres and featured 62 seminars , talk shows , and other events involving 22 Ministries / Agencies , 37 associations , 1003 industry players , and 46 international partners . ISEF was first initiated by Bank Indonesia in 2014 , aiming to attract domestic and foreign buyers and investors .

Collaborating with HEI , ISEF 2023 featured many exciting programmes such as the International Conference , Business Matchmaking , Business Forum , and other special events . This collaboration aimed to accelerate the development of halal products and attract the audience ’ s and potential buyers ’ attention to participate in ISEF 2023 .

BANK INDONESIA ’ S SOLID COMMITMENT TO ISLAMIC FINANCE

The commitment and consistent collaboration by Bank Indonesia in strengthening the Shariah economy and finance ecosystem with various stakeholders have solidified Indonesia ’ s position as a significant player in the global halal industry .

According to the Global Islamic Economy Indicator 2022 , Indonesia ranks fourth among the largest Shariah economies , following Malaysia , Saudi Arabia , and the United Arab Emirates ( UAE ). Indonesia also ranks second in halal food , third in Muslim fashion , sixth in Shariah finance , and ninth in halal pharmaceuticals and cosmetics .

Furthermore , based on the Islamic Finance Development Indicator ( IFDI ), Indonesia has seen significant progress in the past five years , rising from the tenth in 2018 to the third in 2023 . Indonesia has even secured the top position in the Global Muslim Travel Index ( GMTI ) in 2023 .

Other achievements include the continuous growth of Shariah financial assets , averaging 11.3 per cent over the past six years . The market share of Shariah finance in the national financial sector has increased from 8.5 per cent to 11 per cent during this period .

Additionally , establishing three Halal Industrial Zones ( KIH ) in Banten , East Java , and the Riau Islands is crucial for making Indonesia a global halal hub . In 2022 , the total export of halal products reached US $ 15.87 billion ( Ministry of Trade ).

With these achievements , the Director of the Department of Sharia Economy and Finance at Bank Indonesia , Wahyu Purnama , stated that the organisation of ISEF helped to strengthen collective efforts and synergise various policies and programmes for the development of Shariah economy and finance from various relevant authorities and institutions under the framework of coordination through the National Committee for Sharia Economy and Finance ( KNEKS ).

PARTNERING WITH HALAL EXPO INDONESIA

As one of the State institutions consistently supporting the development of Shariah economy and finance in Indonesia , Bank Indonesia is continually working to expand its network with various parties to strengthen the halal value chain ecosystem .

This scenario includes partnering with PT Halal Expo Indonesia ( HEI ), which is a strategic partner of the Indonesian Muslim Entrepreneurs Community ( KPMI ) and will facilitate business matching programmes during ISEF .

“ Collaboration between ISEF and HEI is expected to enhance synergy between the government and businesses in the development of Shariah economy and finance , to realise