The Islamic Development Bank Group CGO Indonesia, Islamic Research and Training Institute (IRTI), an entity of IDB Group, and Indonesia Financial Services Authority (OJK) co-hosted an Islamic Finance Seminar entitled “Transforming Indonesia into a Global Islamic Finance Hub” in Jakarta on Monday, 16 January 2017. The seminar aimed at discussing the opportunities and challenges to transform Indonesia into a Global Islamic Finance Hub, covering issues such as the latest update of Islamic Finance Roadmap for Indonesia, microfinance & financial inclusion and Sukuk as an Islamic Finance product for development financing.

Ibrahim Shoukry, the Resident Representative IDB Indonesia, said, “One of the five strategic pillars that IDB Group is focusing on in Indonesia is deepening the Islamic Finance industry through developing of Islamic Finance products, investing in Islamic finance institutions, providing facility lines to banks and multifinance and financing,  providing advisory and capacity development in this important sector.”  Further he explained, “Our strategy is in line with the effort to transform Indonesia into a global Islamic Finance hub. It includes supporting financial sector regulators and supervisors, strengthening Islamic microfinance sector, supporting Islamic financial institutions including Zakat and Awqaf, and capacity building for the stakeholders.”

The seminar involved reputable speakers and approximately 150 high-level participants from the central bank, government, private sector and academia. It is an annual event held by IDB Group CGO Indonesia to cater the needs of IDB’s national stakeholders to be sensitized and trained on the Islamic Finance.

Following the seminar, IRTI will conduct the Global Islamic Leadership Program entitled “Faith-Inspired Leadership”. The program aims at providing insight into quality leadership in Islamic perspective to 40 international and local participants from IDB member countries.