Arif Baharudin
Assistant Minister for Financial Services and Capital Market Policy and Regulation, Ministry of Finance, Republic of Indonesia
A NEW, LIVE, DIFFERENT & EXCLUSIVE EXPERIENCE
21st - 23rd September 2020, Online
A NEW, LIVE, DIFFERENT & EXCLUSIVE EXPERIENCE
21st - 23rd September 2020, Online
Date: 21st - 23rd September 2020
Venue: Online
Attendees: 233
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ABOUT THE FORUM
Indonesia is an Islamic finance giant waiting to be awakened, and events from recent years have indeed stirred the world’s most populous Muslim nation. Armed with a strong political will, the Republic has a firm grip on its title as a worldclass Sukuk contender, issuing more sovereign Sukuk than any other nations globally. And the Southeast Asian giant, with over 225 million Muslim citizens, is resolute in broadening its Islamic finance repertoire beyond Sukuk: equipped with a new 10-year Islamic finance national masterplan, a dedicated national Shariah finance committee headed by the president himself and a new Hajj fund agency, Indonesia is working on elevating other segments of its Islamic finance industry including banking, insurance and asset management.
Forum Agenda
Keynote Address
Back-to-Basics: Opportunities for Islamic Finance to Flourish in Indonesia
The world has changed. How our industry – Islamic banking, finance and investment – chooses to respond to these changes may be a generation-defining moment. Can Islamic finance in Indonesia use this opportunity to become truly responsible, inclusive and ethical, while at the same time contributing to the country’s growth and development? How can we as an industry ensure this is substance over form on a permanent basis? What opportunities do the UN Principles for Responsible Banking offer Islamic financial institutions in Indonesia? How can the core values of Islamic finance be further applied to sustainable and socially responsible finance and investment strategies? What is an accurate assessment of the situation with bank consolidation in Indonesia, and what will be the best course of action for the Islamic commercial banking industry? We ask a respected panel for a new roadmap to success for Islamic banking, finance and capital markets in Indonesia.
Moderator:
Hanim Hamzah
Regional Managing Partner, ZICO Law Network
Panelists:
Ahmad Shahriman Mohd Shariff
CEO, CIMB Islamic
Angeline Choo
Head of Southeast Asia and Greater China, S&P Dow Jones Indices
Dr Hurriyah El Islamy
Executive Board Member, Badan Pengelola Keuangan Haji (BPKH)
Nyimas Rohmah
Deputy Director of Islamic Banking Regulation, Financial Services Authority of Indonesia
Dr Sutan Emir Hidayat
Director of Islamic Economy Supporting Ecosystem, National Committee for Islamic Economy and Finance
Funds, Infrastructure, Islamic Capital Markets and Responsible Finance Initiatives in Indonesia
Discussing SPV Perusahaan Penerbit SBSN Indonesia III (PPSI-III)’s dollar Sukuk program - including the Green Sukuk - and what it means for the Republic’s domestic Islamic capital market. Will we see Indonesian Sukuk issuers undertake restructurings, workouts and re-financings and what are the implications? What is the latest assessment of retail Sukuk in Indonesia and what has been the appetite from investors for these products? Are regulatory Sukuk still a viable option for Indonesian banks seeking to satisfy capital adequacy requirements? What can technology, particularly tools such as Blockchain, offer capital market innovation in Indonesia? What role can pandemic and disaster recovery bonds play and how can Islamic finance solutions feature? How can Sustainable Development Goal 3 – promoting health and wellbeing – be made an achievable priority and what do SDG bonds, and potentially SDG Sukuk, offer? Lastly, we examine the Republic’s infrastructure requirements in the coming years and ask what can be funded through Islamic facilities, how can risk be effectively managed and do public/private partnerships offer a viable opportunity?
Moderator:
Ronald Rulindo
Islamic Finance Coordinator, Indonesia Deposit Insurance Corporation
Panelists:
Fadlul Imansyah
Director, Principal Asset Management
Farouk Abdullah Alwyni
Chairman, Center for Islamic Studies in Finance, Economics and Development
Irwan Abdalloh
Head of Islamic Capital Market Division, Indonesia Stock Exchange
Indah Budiani
Executive Director, Indonesia Business Council for Sustainable Development
Driving Financial Technology and Digitization in the Republic
What are the major challenges and opportunities facing Indonesian banks in their digitization programs and strategies for the adoption of financial technology? How is digitization within local banks driving effective segmentation and the development of ever more efficient product delivery channels? What opportunities do Blockchain and Distributed Ledger Technology offer Islamic financial institutions and consumers in Indonesia? Where do crowdfunding and peer-to-peer lending potentially fit in the Indonesian financial system and what can be done to develop and nurture these important components? Where and how can FinTech play a meaningful role in key Islamic financial activities such as Takaful, Zakat and Waqf?
Moderator:
Lawrence Oliver
Deputy CEO, DDCAP Group
Panelists:
Harza Sandityo
Co-Founder, Alami Shariah
Matthew Martin
Founder and CEO, Blossom Finance
Zaineb Sefiani
Founder and Director, Carrera Learning
ADVISORY BOARD
Fadlul Imansyah
Director, Principal Asset Management
Farouk Abdullah Alwyni
Chairman, Center for Islamic Studies in Finance, Economics and Development
Dr Hurriyah El Islamy
Executive Board Member, Badan Pengelola Keuangan Haji (BPKH)
Irwan Abdalloh
Head of Islamic Capital Market Division, Indonesia Stock Exchange
Michael Orzano
Senior Director, Global Equity Indices, S&P Dow Jones Indices
FORUM PARTNERS
LEAD PARTNER
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.
MULTILATERAL STRATEGIC PARTNERS
The Islamic Corporation for the Development of the Private Sector (ICD)
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group.
The ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to governments and private companies and encouraging cross-border investments.
The ICD has an authorized capital of US$4 billion. Currently, the shareholders of the ICD are the IDB (50%), 53 Islamic countries (30%) and five public financial institutions (20%).
ICD mandate and objectives
The ICD fosters sustainable economic growth in its 53 member countries by:
- Financing private sector investment
- Mobilizing capital in the international financial markets, and
- Providing advisory services to business and governments.
The ICD selects the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports, etc. The ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and to enhance the role of the market economy. The ICD operates to complement the activities of the IDB in member countries.
The ICD is rated ‘AA/FQ’ by Fitch Ratings, ‘Aa3/P-1’ by Moody’s Investors Service and ‘A+’ by Standard & Poor’s.
FOR MORE INFORMATION
Tel: (966-12) 6361400; (966-12) 6441644
Fax: (966-12) 644 4427
Email: [email protected]
Website: www.icd-ps.org
The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)
Established 26 years ago in 1994 as a multilateral institution and a member of the Islamic Development Bank Group, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was tasked to promote cross-border trade and foreign direct investments in its member countries.
The ICIEC’s mission is to make trade and investment between member countries and the world more secure through the Shariah compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in member countries.
The ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions.
Today, the ICIEC supports trade and investment flows in 47 member countries spanning across Europe, Asia, the Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as export credit agencies and insurers.
International Islamic Trade Finance Corporation
The International Islamic Trade Finance Corporation (ITFC) is a member of the IDB Group. It was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. The ITFC commenced operations in January 2008 and has since consolidated all trade finance businesses that used to be handled by various windows within the IDB Group. Earning an ‘A1’ rating from Moody’s Investors Service reflects the ITFC’s efficiency in service delivery by responding swiftly to customer needs in a market-driven business environment.
Since 2008, the ITFC has provided more than US$40.2 billion of trade financing to OIC member countries, making it the leading provider of trade solutions for the needs of OIC member countries. With a mission of being a catalyst for trade development among OIC member countries and beyond, the ITFC helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.
Contact us at:
Twitter: @ITFCCORP
Facebook: @ITFCCORP
Linkedin: International Islamic Trade Finance Corporation (ITFC)
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: [email protected]
Website: http://www.itfc-idb.org/en
STRATEGIC PARTNER
Capital Markets Malaysia
As part of its mandate to develop the capital market, the Securities Commission Malaysia (SC) set up the Capital Markets Promotion Council in 2012 to strengthen its internationalization agenda for Malaysia’s capital market. In 2014, the SC launched Capital Markets Malaysia (CMM) to spearhead both the local and international positioning and profiling of the Malaysian capital market with its wide range of conventional and Islamic products, supported by a strong governance infrastructure. CMM profiles the competitiveness and attractiveness of the various segments of the capital market via a comprehensive and integrated approach to increase international participation and enhance opportunities for Malaysian capital market intermediaries.
PARTNERS
Carrera Learning
Carrera Learning is an innovative e-learning platform enabling users and companies to build their Islamic finance capabilities. We have extensive experience working with world-class financial institutions and organizations as well as professionals.
The Carrera Learning platform is part of Islamic Finance Navigator.
DDCAP Group
Founded in 1998 and headquartered in London, with an office in Dubai and a presence in both Saudi Arabia and Malaysia, DDCAP is a leading provider of asset facilitation services and financial technology and system solutions across a diverse range of Shariah compliant products, asset classes and instruments in both the primary and secondary markets. DDCAP’s wholly-owned subsidiaries include DD&Co and DDGI. DDCAP has an extensive track record within the Islamic finance industry, employing over 35 professionals with broad and complementary skill sets drawn from diverse financial industry backgrounds, focused principally on providing service to Islamic financial market participants around the world. DDCAP has its own Shariah supervisory board comprising esteemed Shariah scholars from Saudi Arabia, Malaysia and Kuwait. DDCAP’s multi-award-winning Shariah compliant ETHOS Asset Facilitation Platform is a bespoke, real-time trade and post-trade services platform providing 24-hour coverage, enabling clients worldwide to purchase from a diverse asset inventory, including commodities, via a secure, web-based portal.
Eiger
Eiger Trading Advisors (Eiger) is a UK-based asset-trading and technology company founded in 2008, which specializes as an intermediary in Islamic financial products.
As a leading intermediary and technology provider within the commodity Murabahah space, Eiger has the unique capabilities to deliver Shariah compliant commodity trading solutions through the Eiger Trading Platform (ETP), a web-based trading system, that we tailor to our bank clients’ exact operational requirements.
The ETP automates the structuring and execution of Islamic banking products for wholesale and retail commodity-backed transactions, including two new enhanced modules:
- ETP Retail – A 24/7 STP platform designed to automate the end-to-end commodity Murabahah transactions underpinning retail banking products such as deposits, loans, CASA, credit cards
- ETP Client Reach – A bespoke middle and back office module designed to streamline Islamic treasury and derivative transactions, including execution and documentation with our clients’ clients.
Eiger is authorized and regulated by the UK’s Financial Conduct Authority, and is both a member of the London Metal Exchange and an associate of the London Platinum and Palladium Market.
IdealRatings
IdealRatings was incorporated in 2006 in San Francisco with a corporate objective to provide SRI/ESG and Shariah compliant solutions to ethical investors and enable them to identify such instruments across different asset classes in the global market. IdealRatings serves clients in over 30 countries with a range of capital market solutions including:
- Equities – A web-based platform covering over 40,000 stocks, where fund managers can screen equities using different, custom-built ESG/SRI/Responsible Investments and Shariah rulebooks or guidelines. This solution caters to different purification calculation methodologies with a comprehensive set of reports for fund managers to manage their portfolio.
- REITs – Global coverage of all listed REITs that could be screened in accordance with different standard Shariah rulebooks or guidelines.
- Indexes – Co-branded and jointly marketed by FTSE-Russell Indexes and a separate series with Thomson Reuters for the global markets, designed for fund management and investment benchmarking. In addition, IdealRatings is able to provide custom-built indexes for the fund management industry.
- Sukuk – A unique solution which includes the global Sukuk and a pioneering Sukuk-screening solution that enables fund managers to customize their Sukuk selection in accordance to their Shariah rulebook, guidelines or investment preference, and
- Brokerage – The solution provides broking houses the ability to screen global equity markets, a technical analysis of the markets and equities, buy/sell/hold recommendations and purification amounts.
Moody’s Investors Service
Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions and fair access to information open the door to shared progress.
S&P Dow Jones Indices
S&P Dow Jones Indices (S&P DJI) is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over one million indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P DJI has the longest history of providing Islamic market indices since the launch of DJIM World Index, the world’s first Shariah compliant benchmark in 1999. In 2006, the Dow Jones Sukuk Index was launched, which became the first index to track the performance of global Islamic fixed income securities.
Nowadays, S&P DJI offers two highly visible and widely used index families for Shariah compliant investors: The DJ Islamic Market (DJIM) Indices and S&P Shariah Indices. The two index families include thousands of broad-market, blue-chip, fixed-income and strategy and thematic indices that have passed rules-based screens for Shariah compliance and are the most visible and widely-used set of Shariah compliant benchmarks in the world. A majority of the largest asset managers in the Middle East, Southeast Asia as well as major banks/asset managers in Europe and the US that serve a Shariah clientele utilize S&P DJI to construct Shariah compliant investment strategies.
S&P DJI is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/.
TECHNOLOGY PARTNER
Codebase Technologies
Codebase Technologies builds modern digital banks, developing application programming interface-driven technologies to deliver new customer experiences. Supporting institutions with cloud-agnostic digital-ready solutions, it operates as a research and development think tank that enables any business to pursue their ambitions for a seamlessly integrated, lifestyle-enhancing digital financial experience at a fraction of the time and cost.
Its highly robust and scalable open architecture framework and flagship platform ensemble, Digibanc™, the most comprehensive one-stop shop ‘bank in a box’, gives Codebase Technologies the key to unlock the true potential of the new-era digital financial ecosystem.
With solutions encompassing customer onboarding, middleware, payments, asset management and channel deployments, Codebase Technologies provides the expertise that allows your business to focus on what’s important — the customer.
Codebase Technologies operates across ASEAN, the GCC and Australia, providing proprietary technology products and advisory services to institutions looking to challenge the next digital frontier.
Last Visit To Jakarta
Date: 27th August 2019
Venue: Shangri-La Hotel, Jakarta
Attendees: 402
Speakers: 30 Speakers
Indonesia is an Islamic finance giant waiting to be awakened, and events from recent years have indeed stirred the world’s most populous Muslim nation. Armed with a strong political will, the Republic has a firm grip on its title as a worldclass Sukuk contender, issuing more sovereign Sukuk than any other nations globally. And the Southeast Asian giant, with over 225 million Muslim citizens, is resolute in broadening its Islamic finance repertoire beyond Sukuk: equipped with a new 10-year Islamic finance national masterplan, a dedicated national Shariah finance committee headed by the president himself and a new Hajj fund agency, Indonesia is working on elevating other segments of its Islamic finance industry including banking, insurance and asset management.
Syed Mashafuddin Syed Badarudin-indonesia18
I wish to thank you and your team for another successful event. It was very well organized and the conference went well. Our session, in particular, would have been informative and interesting to the audience due to the diverse background of the speakers and topics raised. I must commend the moderator for doing an excellent job in steering the different speakers and varying the areas of discussion.
Syed Mashafuddin Syed Badarudin
CEO, CIMB-Principal Islamic Asset Management
Irman Boyle-indonesia18
Thank you very much for the opportunity to join the forum and I look forward to participating in the next event.
Irman Boyle
Head of Advisory, Indonesia Infrastructure Finance
Masumi Hamahira-indonesia18
Congratulations on the success of IFN Indonesia. We had good speakers from OJK and MOF, etc.
It was a nice event.
Masumi Hamahira
Advisor, Islamic Banking Window, MUFG Bank
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.
