The potential of the Indonesian textile ecosystem can be worked on significantly by Islamic banking. Given that modest fashion is one of the segments prioritized by the government for the development of the Islamic economy.
President Director of PT Sri Rejeki Utama Tbk Iwan S Lukminto said the Indonesian textile ecosystem was very complete and needed support, including from Islamic banks. The ecosystem includes fiber raw materials, weaving, cloth to garment.
"This ecosystem is very complete in Indonesia, so it can be paired with Islamic banking to finance all its ecosystems," he said.
The linkages in this ecosystem are very important so that economic activities can be centered in Indonesia. Iwan said that the current conditions are less than ideal because there are still many supplies in the ecosystem filled with imports.
For example, the mukena or veil industry uses imported fabrics because of the cheap price. Meanwhile, suppliers from domestic industries are lagging behind because they are unable to compete in price.
Iwan said that with a larger business scale, competitiveness can be improved. This can be realized with funding assistance from Islamic banks which also focus on ecosystem financing.
"Our idea is to strengthen corporate funding, so we as the father are in charge of the small and medium enterprises and small and medium enterprises, so it can be done in an ecosystem," he said.
Ecosystem funding can also be a form of commitment in strengthening Indonesia's production industry. As echoed by the government in siding with domestic products. Iwan said this should be a joint educational agenda.
Furthermore, Iwan said that his company is also committed to halal fashion by using chemicals that are halal certified. The company is also starting to be concerned about digital technology which can significantly increase growth.