The Financial Services Authority (OJK) continues to encourage Shariah insurance companies to develop products for the halal industry, in line with the 2023-2027 roadmap for the development of the Indonesian Insurance Industry.
The roadmap aims to have 50% of Shariah-compliant insurance companies offering products that support the halal sector by 2027, said Mr Ogi Prastomiyono, chief executive of the OJK’s Insurance, Guarantee, and Pension Fund Supervisory Division, in a statement.
Several Islamic insurance companies have begun developing various products targeting sectors within the halal industry ecosystem.