3rd October 2022
Pullman Jakarta Indonesia Thamrin CBD
#IFNINDONESIA2022
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Astera Primanto Bhakti, Director General of Fiscal Balance, Ministry of Finance, the Republic of Indonesia, Secretary General of the Indonesian Association of Islamic Economists (IAEI)
We offer a critical analysis of the applicability of Islamic financial services to two vital, burgeoning sectors in Indonesia: The Halal economy, and social finance. How large is the Halal economy both domestically and internationally? What are the opportunities for servicing, supplying, financing and managing the Halal economy? Are companies within the Halal economy exclusively using Islamic financial services, and if not, why? What represents effective value chain analysis of the Halal economy and how do Islamic financial institutions position themselves to offer successful financing solutions? Why is social finance important and how can Islamic financial institutions play a role in its growth and development in Indonesia? In a post-pandemic world, what does social finance offer in terms of relief and renewal? How can Islamic social finance be used to stimulate enterprise, entrepreneurship, job creation, healthcare and education, and assist with liquidity and funding for the vital SME sector? With such goals in mind, how does the Islamic financial services sector design effective models and strategies, offer innovative products and measure the impact of these important initiatives?
Moderator:
Usman Ghouse, Regional Head of Islamic Transaction Banking, CIMB Islamic Bank
Panelists:
Dr Ali Fallahi, Country Economist, Regional Indonesian Hub, Islamic Development Bank
Dr Sapta Nirwandar, Chairman, Indonesia Halal Lifestyle Center
Dr Sutan Emir Hidayat, Director of Islamic Economy Supporting Ecosystem, National Committee for Islamic Economy and Finance
Why is a united regulatory response to climate risk so important for the financial services industry, and how do we evaluate initiatives that encourage investors to channel capital into sustainable economic activity, and guide government and quasi-government resource allocation towards climate transition and social responsibility? How do we address the implications of various taxonomies, frameworks and standards, and identify what can now be labelled green investments? How can potential green bond and Sukuk issuers successfully connect issues to internal sustainability frameworks? With ESG and sustainability continuing to grow in the Islamic capital markets issuance, when will we see the measurement of impact? Are sufficient issuers engaging with independent, third parties to measure green, sustainable and social credentials? Finally, can we further capitalize on the collaboration between sustainable finance and Islamic finance, and develop suites of investment products that satisfy both criteria?
Moderator:
Abdulhaq Mohammed, Partner, Trowers & Hamlins
Panelists:
Ahsan Ali, Managing Director and Head, Islamic Origination, Standard Chartered Saadiq
Dien Sukmarini, Division Head of Islamic Capital Market Policy Development, Islamic Capital Market Directorate, Otoritas Jasa Keuangan – The Financial Services Authority of Indonesia
Shaiful Kamarul Mohammed, Senior Country Manager, Indonesia, The Islamic Corporation for the Insurance of Investment and Export Credit
Sylvi J Gani, Financing and Investment Director, Sarana Multi Infrastruktur
The digitalization of Islamic financial services: what is working, what is viable, and what is not? What do the answers to these questions mean for the evolution of Islamic financial services in Indonesia? How do we evaluate key initiatives designed to modernize and digitally transform the national economy, including the Islamic financial services sector? How has regulation and promotion of Indonesian Islamic crowdfunding and peer-to-peer lending platforms created opportunities for the joint ownership of Shariah compliant assets and investment projects? What measures would assist domestic Islamic financial institutions in the further development of Islamic digital retail, wealth management, Takaful and pension offerings in Indonesia? What are notable milestones and achievements in the development of systems and software for Islamic banks and financial institutions? What technology is available to help Islamic financial institutions drive scale, integrity, efficiency and ultimately profitability? What are the potential uses and applications of digital assets in Indonesia’s financial markets today? What are the key risks and issues surrounding digital assets and what is the role of regulators in the development of an efficient digital marketplace in Indonesia? We ask an expert panel.
Moderator:
Vineeta Tan, Managing Editor, Islamic Finance news
Panelists:
Ardian Asmar, Head of Syariah Project, Digiasia Bios
Bung Aldilla, Head of Sharia Consumer Banking, CIMB Niaga Syariah
Farouk Abdullah Alwyni, Chairman, Center for Islamic Studies in Finance, Economics, and Development (CISFED) and Vice Rector, Binawan University
Associate Professor Dr Murniati Mukhlisin, Rector, Tazkia Islamic University College
What represents innovation in the Indonesian Sukuk market: pioneering structures, sourcing underliers, and the transition from ESG to Impact? What options do hybrid or combination Sukuk offer local issuers, particularly in asset heavy industries such as oil and gas, and aviation? How do Tier-1 and Tier-2 Sukuk offer financial institutions a flexible, efficient and user-friendly way of satisfying regulatory capital requirements, and what do perpetual Sukuk structures offer such issuers? How has innovation been incorporated into project and infrastructure finance, particularly regarding concession agreements, cash contributions and investor protection? With ESG and sustainability continuing to grow in the Islamic capital markets issuance, when will we see the measurement of impact? Are sufficient issuers engaging with independent, third parties to measure green, sustainable and social credentials? With the demise of LIBOR, is SOFR a good alternative for the local Islamic Capital Market? We seek the views of an expert panel.
Moderator:
Lawrence Oliver, Executive Director, Deputy CEO, DDCAP Group
Panelists:
Dr Ayaz Ismail, Director, Wholesale Banking, CIMB Islamic Bank
Bazari Azhar Azizi, Principal Analyst Islamic Capital Market, Directorate of Islamic Financial Services, National Committee for Islamic Economy and Finance
Irwan Abdalloh, Head of Islamic Capital Market Division, Indonesia Stock Exchange
IFN Indonesia Forum Review
IFN Indonesia Forum 2022 Review
Indonesia: New measures to boost domestic and world stage presence
Indonesia’s rise in Islamic finance has been stunning. Armed with a laser-sharp focus and an arsenal of effective policies and groundbreaking initiatives, President Joko Widodo’s government has spearheaded an era of phenomenal growth. At IFN Indonesia Forum 2022, we learned more about the administration’s plans including upcoming Islamic ESG regulations and new Shariah funds to boost its Islamic economy. But VINEETA TAN asks, are these enough for the world’s most populous Muslim nation to become...
...Read More
About the IFN Indonesia Forum
This was the IFN 14th IFN Indonesia Forum.
Leveraging on our strong Indonesian ties and firm regulatory support built over a decade, the IFN Indonesia Forum was a high-level congregation of international and local stakeholders tackling the most pressing issues of Shariah finance through engaging discussions.
There was no denying Indonesia’s Islamic finance potential. The opportunities its 225 million-strong Muslim population – the largest in the world – created along with the Republic’s strong Shariah affinity were immense. Walking the talk, the Indonesian government had effectively mobilized resources, including a raft of regulations, to propel itself to become a global hub for the Halal economy and Islamic finance.
Armed with a clear vision, robust measures, detailed multi-pronged and comprehensive Halal economy masterplan, Indonesia had catapulted itself to the global stage with significant progress, and it had only touched the tip of the iceberg. The economic giant continued to harness its latent Islamic finance potential and the prospects were brighter than ever.
Forum Keynote
Forum Speakers
Abdulhaq Mohammed
Partner, Trowers & HamlinsAhsan Ali
Managing Director and Head, Islamic Origination, Standard Chartered SaadiqDr Ali Fallahi
Country Economist, Regional Indonesian Hub, Islamic Development BankArdian Asmar
Head of Syariah Project, Digiasia BiosDr Ayaz Ismail
Director – Wholesale Banking, CIMB Islamic BankBazari Azhar Azizi
Principal Analyst Islamic Capital Market, Directorate of Islamic Financial Services, National Committee for Islamic Economy and FinanceBung Aldilla
Head of Sharia Consumer Banking, CIMB Niaga SyariahDien Sukmarini
Senior Analyst, Directorate of Capital Market and Islamic Capital Market Development, Otoritas Jasa Keuangan – The Financial Services Authority of IndonesiaFarouk Abdullah Alwyni
Chairman, Center for Islamic Studies in Finance, Economics, and Development (CISFED) and Vice Rector, Binawan UniversityIrwan Abdalloh
Head of Islamic Capital Market Division, Indonesia Stock ExchangeLawrence Oliver
Executive Director, Deputy CEO, DDCAP Group™Associate Professor Dr Murniati Mukhlisin
Rector, Tazkia Islamic University CollegeDr Sapta Nirwandar
Chairman, Indonesia Halal Lifestyle CenterShaiful Kamarul Mohammed
Senior Country Manager, Indonesia, The Islamic Corporation for the Insurance of Investment and Export CreditDr Sutan Emir Hidayat
Director of the Islamic Economy Supporting Ecosystem, the National Committee for Islamic Economy and Finance (KNEKS)Sylvi J Gani
Financing and Investment Director, Sarana Multi InfrastrukturUsman Ghouse
Regional Head of Islamic Transaction Banking, CIMB Islamic BankVineeta Tan
Managing Editor and Director, Islamic Finance newsAdvisory Board
Dr Irfan Syauqi Beik
Associate Professor of Islamic Economics, Head, Division of Zakat, Islamic Development Economics and Public PolicyIrwan Abdalloh
Head of Islamic Capital Market Division, Indonesia Stock ExchangeDr Sutan Emir Hidayat
Director of the Islamic Economy Supporting Ecosystem, the National Committee for Islamic Economy and Finance (KNEKS)In The News
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About REDmoney Events
REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, panellists and participants from a cross-section of the global industry to debate the most significant issues affecting the Shariah compliant financial markets.
REDmoney events are differentiated by their complimentary yet qualified attendance structure, ensuring the highest quality of both delegates and contributors. Comprehensive and cutting-edge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
The annual IFN Asia Forum has been the biggest event in the industry since its inception in 2006, attracting over 1,000 delegates annually. An annual line-up of Forums are also conducted across emerging markets and key jurisdictions. Included under REDmoney Events are the IFN Awards Ceremonies, which take place annually in Dubai and Kuala Lumpur, and attract more than 800 industry leaders.
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