HAQQ Partners with KNEKS and PT BUMR to Advance Indonesia's Sharia Economy

TL: DR;  HAQQ Association has partnered with PT BUMR and KNEKS to drive growth in Indonesia’s $1.31 trillion economy by focussing on integrating HAQQ Network within the established Indonesian economy and developing tools to further Shariah compliance. This collaboration aims to create new investment opportunities, empower local businesses, and align innovative financial solutions with Indonesia's national priorities, fostering sustainable and inclusive economic growth while staying true to Islamic values.

We are thrilled to announce a pivotal partnership to drive significant growth and innovation in Indonesia’s Sharia economy. HAQQ Association, the Komite Nasional Ekonomi dan Keuangan Syariah (KNEKS), and PT BUMR Industri Terhubung Indonesia (BUMR) have joined forces to leverage blockchain technology and Sharia-compliant financial services to unlock new opportunities for businesses, investors, and communities across Indonesia.

Strategic Roles of KNEKS, BUMR and HAQQ

KNEKS is an Indonesian government-established body designed to accelerate the development of the Sharia financial sector to support national economic growth. They ensure that our efforts align with the national priorities that matter most to the Indonesian people. PT BUMR, a leading player in the local market, brings its expertise in Sharia-compliant business practices and an in-depth understanding of Indonesia’s unique economic dynamics. We at HAQQ provide the technological backbone, delivering blockchain solutions designed to enhance transparency, security, and accessibility in financial services and promote Shariah-compliant financial practices both onchain and in the real world. 

Empowering Local Entrepreneurs and Small Businesses

This partnership represents the beginning of a new era for the HAQQ community and the people of Indonesia. By integrating our blockchain technology, we’re making Sharia-compliant financial solutions more accessible and efficient. Local entrepreneurs, small businesses, and individuals alike will benefit from secure, transparent, and values-driven financial products that align with their Islamic beliefs. 

In particular, the growth of the HAQQ Network will benefit parties such as farmers and fishefolks, producers, consumers, and traders by providing a Web3 base from which they can operate. These parties are intended to be able to access Shariah-compliant financial services on the HAQQ Network. 

Similarly, our beloved community will have various opportunities open to them, including accessing services via the blockchain and/or providing liquidity or funding to parties. All while harnessing the power of HAQQ Network and ISLM!

A Huge Impact on Indonesia’s Economy

The impact of this partnership on Indonesia’s economy is equally profound. Our collaboration taps into the heart of a $1.31 trillion market with government spending of about 17.54% that fuels various sectors. By aligning ourselves with BUMR and KNEKS, we are opening the doors for onboarding large swathes of the Web2 world to Web3. As ever, our goal remains to bring the power of Web3 to the broader Ummah via Shariah-compliant tools, our friends and partners at BUMR and KNEKS are helping us in this regard by providing mutually beneficial support in the integration of the Indonesian economy.

Building a New Standard for Islamic Finance

What makes this collaboration genuinely unique is our shared belief in the power of innovation to serve ethical and sustainable growth. Together with BUMR and KNEKS, we’re committed to advancing financial solutions that meet modern needs and honor the Islamic principles that form the foundation of Indonesia’s Sharia economy. By protecting intellectual property, promoting innovation, and empowering businesses, we are laying the groundwork for a more resilient, inclusive, and forward-thinking economic future.

This partnership will set a new standard for how technology and tradition can work together to shape a dynamic and inclusive Sharia economy. The road ahead is full of opportunity, and we are excited to work with BUMR, KNEKS, and the broader Indonesian community to realize that potential.

Onchain tools such as Deenar Gold, Firoza Finance, BarakaFi, Atlas, etc., will be the cornerstone for integrating relevant parties/economies. The journey is long. However, it is fair to say that the foundation has now been established, and we are progressing to full network deployment and exhibiting the vision of HAQQ. 

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