30th September 2024
Four Seasons Jakarta
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#IFNEVENTS2024
About The Forum
Indonesia’s global leadership in sovereign Sukuk is undisputed, both in the local rupiah and dollar markets. It has even pioneered innovative solutions such as cash Waqf-linked Sukuk, digital retail Sukuk and green Sukuk.
Unfortunately, this enthusiasm for Shariah compliant paper has not really cascaded down to the corporate sector. As at the end of 2022, Indonesia, which had US$85 billion in outstanding government Sukuk, only held US$5 billion in outstanding corporate Sukuk, mostly denominated in the local currency.
Indonesian corporates in general are turning to conventional finance rather than the Islamic markets for their funding needs, especially for their offshore funding requirements.
This represents a missed opportunity especially as Indonesia’s cross-border financing needs continue to grow exponentially as it fulfills its role as one of the world’s main suppliers of various natural resources, and as Indonesian companies continue to expand their international geographical footprint, deepening their multicurrency financing needs.
These needs can be met through Islamic financing, which would be an ideal vehicle for Indonesian corporates to tap global liquidity. The question is, how?
The IFN Indonesian Corporate Development Initiative Forum in Jakarta this September will gather leading banks, international legal experts and global intermediaries to shed light on how Indonesian companies can raise Islamically in the most effective and cost-efficient manner.
The three-hour high-level private event will comprise of interactive expert panel discussions, case studies, presentations and keynote addresses focusing on Shariah compliant international capital raising method specifically for Indonesian corporates.
A comprehensive report will follow the event.
An exclusive, private event, focussing on raising awareness of the opportunities for Shariah compliant, Indonesian issuers raising non-Rupiah paper for their capital raising requirements.
An Introduction to 2024
In 2023 we returned to a full in-person program, with record numbers at many of our events – a sign of normality returning to the events industry.
For 2024 we have curated a fantastic lineup consisting of our regular leading events, a return to some markets after a short hiatus, and the introduction of two intriguing Islamic investment events.
We run a mixture of Forums and Dialogues throughout the year, depending on what each market responds best to. Essentially, they’re very similar, with only the structure of the discussion being different. For a partner, there’s no difference.
Our focus remains on delivering the best experience possible for delegates, speakers and partners.
What to look out for in 2024:
- Awards Ceremonies: The IFN Awards are the most coveted in the industry and our two Awards Ceremonies in Dubai and Kuala Lumpur continue to gather the elite form the Islamic finance world.
- Investor Forums: New for 2024, these two large-scale Forums in Dubai and Kuala Lumpur coincide with the launch of our new IFN Investor platform and will provide the perfect setting to discuss and debate the rapidly developing global Islamic investment space.
- UK Forum: Europe’s largest, longest running and most influential Islamic finance event will again return to the glorious Mansion House, under the patronage of the Lord Mayor of London. A truly global event, with key focusses on investment flows, sustainable, product development and Fintech.
- Oman Forum: This is the only annual international Islamic finance event in the stunning Sultanate, and one not to miss if Oman is on your radar. Full regulatory support, and all local banks and intermediaries are in attendance.
- Qatar Dialogues: In partnership with the Qatar Financial Centre, we’ll continue the discussion on the development of Islamic finance in the State and its important role in the global markets.
- Asia Forum: Our flagship event, the IFN Asia Forum is the largest Islamic finance focused event anywhere. Covering all markets and sectors in the region, if Asia is in your plans, this event is a must.
- Indonesia Dialogues: Still the world’s largest Muslim population with massive potential, this is the only international Islamic finance event in the island nation. Opportunities are rife and we’re now witnessing seismic changes in the Islamic finance landscape.
- Turkiye Dialogues: Returning to Istanbul with a physical event for the first time since 2019, we’ve been following from afar the phenomenal growth and development of the Islamic finance industry in the Republic. There’s much to discuss and we’d be delighted if you joined us.
- Saudi Arabia: Saudi Arabia remains the world’s largest Islamic finance center and an important market for IFN. This marks our 12th KSA event where we'll be discussing and debating how the Kingdom can build on its dominance and the role Islamic finance will play towards Saudi Vision 2030.
- Bahrain: Rounding off the year again in beautiful Bahrain for the World Islamic Finance Dialogues, we’ll be reviewing the year just past, previewing the year ahead and discussing the global industry at large.
As always, all Forums will be recorded and posted online for all to view, and all events will be complemented by a comprehensive Post Event Review. .
We’re excited for the new year and look forward to welcoming you to our events and assisting in the continued global growth of the Islamic financial markets.
#IFNEVENTS2024
Dialogues Agenda
14.15 – 14.20
Welcome
14.20 – 14.30
Introduction: Indonesian Corporate Finance
14.30 – 15.30
Panel One: Exploring Non-Rupiah Funding Routes for Indonesian Corporate Issuers
- The Indonesian corporate finance market and how it has evolved.
- Assessing funding options for Indonesian corporate issuers: capital markets vs bank financing vs alternative funding (P2P and equity crowdfunding).
- Offering an overview of the legal, tax and regulatory environment for Indonesian corporate capital raising.
- Rupiah versus non-Rupiah denominated corporate financing and capital raising activities.
- An introduction to the role of Shariah banking and finance in Indonesia: options for corporates.
- An overview of liquidity in key Islamic markets and how it is driving demand from Islamic financial institutions for Shariah compliant paper.
Bilal Parvaiz, CEO, Standard Chartered Saadiq
15.30 – 16.30
Panel Two: Shariah Compliant Non-Rupiah Funding Options for Indonesian Corporate Issuers
- Shariah bank and syndicated financing versus the Islamic capital markets: comparisons and contrasts.
- Islamic financing in Indonesia: an introduction to the non-Rupiah Islamic market and the options available to issuers.
- Common non-Rupiah Sukuk structures and their applications for corporate issuers.
- Balance sheet management: asset-based versus asset-backed structures, and Rupiah versus non-Rupiah.
- Other key considerations for potential issuers: tenor, rating, risk management, credit enhancement, investor base.
- The opportunities offered by Shariah compliant, non-Rupiah green, transition and sustainability linked capital raising products.
- Overview of taxation issues.
Aditya N W Martowardojo, Director Corporate Client Solutions, PT CIMB Niaga Sekuritas
Romy Buchari, Shariah Banking Director, Maybank
Salman Ahmed, Partner, Trowers & Hamlins
16.30
Networking
Forum Speakers
Aditya N W Martowardojo
Director Corporate Client Solutions, PT CIMB Niaga SekuritasAditya Martowardojo has more than 22 years of experience in the capital market industry. He currently serves as Director of Corporate Client Solutions in CIMB Niaga Sekuritas. Before joining CIMB in 2015, he worked in several securities companies which includes: PT Macquarie Capital Securities Indonesia, VP and Director, Investment Banking (2014 – 2015) and PT Danareksa Sekuritas, Director, Investment Banking (2001-2013). His transaction experience includes numerous capital market transactions (equity and debt), corporate financial advisory and M&A across a wide range of sectors. Notable recent transactions include Global Sukuk of the Republic of Indonesia (2021 – 2023), Rights Issue of Bank BTN (2023), Rights Issue of Semen Indonesia (2022), Rights Issue of Bank Syariah Indonesia (2022), IPO of GoTo (2022) and Divestment of SMR (Kanci – Pejagan Toll Road) and PPTR (Pejagan – Pemalang Toll Road) owned by Waskita Toll Road to INA (Indonesian Sovereign Wealth Fund) (2022). Aditya earned a Master in Applied Finance degree and a Bachelor of Banking and Finance degree from Monash University, Australia. He also holds an Underwriter Representative license from OJK.
Bilal Parvaiz
CEO, Standard Chartered SaadiqBilal Parvaiz started his career with Standard Chartered in 2010 as part of the Group Islamic Banking team based in United Arab Emirates, where he was responsible for the Bank’s Structured Trade and Transaction Banking business across the Gulf Cooperation Council (GCC) and South Asian markets.
He joined Standard Chartered Saadiq Malaysia in 2014 and led the Islamic Corporate and Investment Banking (CIB) team, driving regional coverage across the ASEAN markets including Malaysia, Brunei, Singapore, and Indonesia.
Bilal was appointed as Chief Executive Officer of Standard Chartered Saadiq Malaysia on 15 March 2024 and is now steering the Bank’s Islamic banking business in Malaysia to greater heights by strengthening Saadiq’s leading position in the Islamic banking arena.
Bilal has played an instrumental role in originating landmark transactions across the GCC, South Asia and ASEAN, including market firsts such as the world’s first ESG Islamic Collateralised Commodity Murabahah transaction and Sustainable Islamic Supplier Finance. Bilal most notably spearheaded the Halal360 initiative, a key proposition that aims to expand the Halal eco-system globally.
Bilal was also the Country Champion for Sustainable Finance and represented the Bank in multiple sustainability initiatives including Value Based Intermediation (VBI) and Joint Committee on Climate Change (JC3). He also jointly led the Value Based Impact Assessment Framework (VBIAF) for the Renewable Energy sector. Owing to his expertise in Islamic Finance – the Halal economy and Sustainable Finance, he is often invited to share his views at various industry forums.
Bilal holds a Master of Business Administration (MBA) degree, and professional qualifications in Sustainable Finance from Frankfurt School of Finance & Management, Sustainability Leadership Programme at the University of Cambridge, and Global Banking Leadership program at Bayes Business School London. He is also an Associate Member of Chartered Institute of Islamic Finance Professionals (CIIF).
Romy Buchari
Shariah Banking Director, MaybankRomy Buchari is the Shariah Banking Director at Maybank Indonesia. He is responsible for the growth of the Bank’s Islamic banking business, covering customer segments from Retail, Wealth, SME, Commercial to Corporate/Wholesale banking. Maybank Indonesia’s Shariah-compliant asset has reached over 25% of the Bank’s overall assets, the highest penetration percentage by far amongst all Islamic banking outfits in the Country. Romy’s experience spans multiple geographies in countries such as the United States, Indonesia, Singapore, Saudi Arabia, Oman and the United Arab Emirates. He has previously worked with institutions such as ABN-AMRO, Emirates Islamic Bank, HSBC and McKinsey & Company.
Salman Ahmed
Partner, Trowers & HamlinsSalman has worked and lived in Dubai, Karachi, London, Manama and Riyadh. He specialises in all forms of debt finance (cross-border and domestic) including related (non contentious) restructuring work representing borrowers, lenders and investors including bank Muscat, Bank ABC, BNP Paribas, Citibank, Gulf International Bank, HSBC and Standard Chartered.
Salman is regarded as one of the foremost experts in the field of Islamic finance and has been ranked in the highest tier by amongst others, IFN, The Legal 500 2014 onwards (leading Islamic finance lawyers (London and Bahrain), IFLR 1000 (Highly regarded) 2018 onwards, Chambers Global 2017 (Up and Coming) onwards, and Banking, Finance and Transactional Guide (2017 onwards).
He has extensive on-the-ground experience of structuring, negotiating (including the negotiation of intercreditor relationships among senior
and junior creditors) and documenting major financings in Asia, the Middle East (including numerous transactions in Bahrain, Oman and KSA) and Africa. He recently advised Asian Infrastructure Investment Bank (AIIB) and B Lenders on a US$ 239,200,000 senior financing consisting of: the A Loan Facility of US$ 125,200,000; and the B Loan Facility of US$ 114,000,000 to Oman Broadband Company for its rollout of a fiber optic broadband cable network to c. 406,003 homes/premises by the end of 2021.
He also has a wealth of experience in capital markets transactions including numerous award winning and landmark transactions such as Tilal Sukuk, Ominvest’s debut perpetual capital securities, bank muscat’s debut Sukuk programme, Golden Group’s debut Sukuk programme amongst others. He represents issuers and underwriters on the full spectrum of debt, equity and hybrid security offerings.
Salman also advises all types of financial market participants on regulatory compliance and legal risk management issues (including sanctions).
Salman is a sought after and regular speaker at client, media and industry events and is a recognised expert on Islamic finance, finance
regulation and financing trends. He has been a contributor to the Bahrain Chapter of The Islamic Finance and Markets Review since 2017.
Forum Partners
HOSTS
CIMB Islamic
CIMB Islamic Bank, licensed under Malaysia’s Islamic Financial Services Act 2013, is the main operating entity of the CIMB Group’s global Islamic banking and finance franchise. It operates in parallel with the group’s universal banking platform where it offers Shariah compliant products and services to the group’s wholesale banking, consumer banking, commercial banking and asset management businesses.
CIMB Islamic’s products and operations are managed in strict compliance with Shariah principles under the guidance of the CIMB Islamic Board Shariah Committee, which comprises some of the world’s leading Shariah experts or scholars. CIMB Islamic provides comprehensive and innovative Shariah compliant financial products and services to meet the needs of individuals, small and medium-scale enterprises as well as large institutional customers.
CIMB Group’s Islamic banking and finance business is supported by the group’s network of over 39,000 staff in 16 countries comprising an experienced senior management team and a global team of Islamic banking and financial services professionals in all core components of the Islamic banking and financial services market. CIMB Group also has the most extensive retail branch network in ASEAN, with more than 900 branches as at the 31st December 2016. Outside of Malaysia, CIMB Islamic operates a universal offering in Indonesia and Singapore with a focus in wholesale banking in the other 14 countries.
Maybank Islamic
Maybank Islamic is the Islamic banking subsidiary of Malaysia’s largest banking group, Malayan Banking (Maybank). As at the 31st December 2023, our total assets stood at about US$76 billion, making us the largest Islamic bank in ASEAN and one of the top five in the world. Maybank Islamic ranked as No 5 in the Global Sukuk League and No 2 in Bloomberg’s Ringgit Malaysia Sukuk League Table in December 2023.
As at the 31st March 2024, Islamic financing constituted 69.3% of Maybank Malaysia’s total loans and financing while Maybank Islamic took lead in the market share of Islamic assets in Malaysia at 29.4%.
Maybank Islamic offers a range of Islamic financial products and services across more than 354 Maybank touchpoints in Malaysia, as well as in international operations in Dubai, Indonesia, Singapore, Hong Kong, London and Labuan.
Maybank Islamic is committed to continuously providing meaningful Shariah-based financial solutions and strengthening the bank’s commitment in its sustainability agenda. This will be done by not only embedding Shariah values and principles into its products and services, but also through continuous engagement with local and global stakeholders to steer the sustainability conversation within the bank and industry.
Trowers & Hamlins
Trowers & Hamlins is an international law firm with over 150 partners and more than 900 people located across the UK, the Middle East and the Far East providing a full-service integrated offering to clients with local knowledge and expertise at its core.
Our distinguishing feature is that with 25 years of experience in the UK and the Middle East, we have a depth of knowledge of the Islamic finance industry that covers the entire spectrum from regulatory and corporate governance to capital market issuances and real estate investment. Our international team of multidisciplinary specialists will guide you on structuring your Shariah compliant activities to help you achieve a successful outcome.
With our growing office in Kuala Lumpur, our team now advises on Islamic investments, financings and products across the UK, Europe, the Middle East and Southeast Asia.
STRATEGIC PARTNERS
LEAD MEDIA PARTNERS
Islamic Finance news
Islamic Finance news (IFN) is the company’s principal publication. IFN is a digital, subscription-based publication available online and through smartphone and tablet applications. Published weekly, the journal provides exclusive and comprehensive coverage of the global Islamic financial markets through in-house analysis and expert external contributions; in addition to a daily news service, additional quarterly supplements and a variety of special annual issues.
Differentiated by trusted relationships across the industry since 2004, IFN is able to leverage an unrivalled network of contacts and connections to provide unparalleled insight into the issues affecting global Shariah compliant markets: along with in-house analysis, news, interviews, reports, industry and sector data, and much more.
With an archived website containing over 80,000 exclusive reports, the IFN portfolio also hosts a suite of proprietary tools including the industry’s largest interactive terminology glossary, a directory of over 9,000 global Islamic financial institutions and a portal to Islamic Banking Intelligence, the most comprehensive source of segmented Islamic banking financial data.
IFN Fintech
Fintech is one of the most exciting sectors of the global financial industry, breaking boundaries and challenging preconceptions in one of the shake-ups of the century. A new class of financial players is disrupting the status quo – and financial institutions must embrace this change or face being left behind as the financial landscape transforms beyond recognition.
But although fintech as a whole has been well-served by the media, the Islamic segment has so far made limited penetration on public consciousness – despite the enormous potential it represents for the industry. There is a clear chasm between the multitude of pioneering entrepreneurs, start-ups and fintech firms making waves in the Islamic space; and the interested investors, institutions and stakeholders keen to explore these opportunities.
Recognizing this information gap, IFN is delighted to introduce to you a bespoke multi-channel platform – IFN FinTech.
Comprised of four tranches, IFN FinTech is a one-stop-shop for industry knowledge, networking and communication – supported by our unrivaled global network, our strong social media platform and our trusted multimedia Islamic finance offering.
IFN Sustainable
IFN Sustainable, comprises a dedicated portal, weekly news alert, audio and video podcasts, interviews, data, exclusive reports, case studies, research, virtual roundtables, and hybrid forums. With a focus on the latest news and developments, IFN Sustainable is also be a pivotal platform for thought leadership and the launch of new products and services within the industry. IFN Sustainable also partners with some of the leading organizations associated with the Islamic and sustainable finance industry, providing holistic coverage.
IFN Investor
The Islamic investment industry is a fastgrowing and dynamic sector within the Islamic finance space, with a ballooning pool of assets under management, reflecting a rapidly increasing demand for Islamic investment products.
Yet this increased demand has not been matched by increased activity in the media space.
And, although IFN has been reporting on the Islamic investment market for almost 20-years, we noticed we could do more and decided to rectify this imbalance.
After extensive research and surveying of the global Islamic investor industry on what they would like to see, we have designed and built a one stop portal for all those involved or interested in the local, regional, and global Shariah compliant investment market.
MEDIA PARTNERS
Syariah Saham Indonesia
Syariah Saham Indonesia is the only stock community in Indonesia that exclusively invests in Shariah compliant stocks and investment instruments, such as Sukuk, Shariah deposits, Shariah mutual funds, and Shariah crowdfunding.
With a vision to popularize Shariah stocks and Shariah compliant investing and a mission to help the Indonesian community achieve their financial goals through Shariah compliant investments, the organization offers an educational platform through its website and social media channels that provide comprehensive information on Islamic investments.
Registration
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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, panelists 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 cuttingedge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
The annual IFN Asia and IFN UK Forums are categorically recognized as their continent’s leading industry events since their inception in 2006 and 2007, respectively. The Dialogues series have also become an integral element of the REDmoney events series and have cemented their position as leading, must-attend, events.
In 2024, we welcome the IFN Investor Forums, which coincide with the new IFN Investor portal.
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.