LPS Chairman: 'Halal Beyond Label' is a Necessity for Building Islamic Economy

Indonesia is one of the world’s largest consumer markets for halal products and possesses significant potential for developing the halal product industry, according to the Chairman of the Board of Commissioners of the Indonesia Deposit Insurance Corporation (LPS), Anggito Abimanyu. He stated that ‘Halal Beyond Label’ is a necessity for building a sustainable Islamic economy. The concept of Halal Beyond Label is a global lifestyle and industrial approach that emphasises the meaning of ‘halal’ extends far beyond merely possessing a logo or certificate. ‘We must make Halal Beyond Label a real agenda to build an Islamic economy that is just, inclusive, and brings benefits to all of society,’ Anggito Abimanyu said during the Islamic Finance Dialogue (IFD) 2026 in Jakarta on Wednesday (1/7/2026). He stressed that Indonesia has a large market potential, resilient MSMEs, competent academics, and a creative young generation. If all these strengths are mobilised within a more integrated halal ecosystem, Indonesia will not only be the largest halal consumer but also a global producer and reference point for halal products. However, he acknowledged that various challenges remain, including domestic affairs, processes, governance, institutions, and the cost of enforcing the label itself within the country. Bureaucratic red tape, a limited number of auditors, and inter-agency harmonisation are still homework that must be resolved.