The 4th Annual Islamic Finance Conference
The Annual Islamic Finance Conference (The AIFC) is a Ministry of Finance annual event that brings together policy makers, economists, academics, and private sector to discuss various key Islamic finance, economic and development issues particularly for Indonesia. The purpose of AIFC are to discuss and exchange new ideas and information among experts. Previously, the AIFC was held in Jakarta in 2016, Yogyakarta in 2017, and Makassar in 2018.
This year, the 4th AIFC would raise an interesting topic that already became a global interest: impact investing. The topic also in line with the government concern to determine the impact of investment which already spent, in social, finance, and environment. This conference also parallel with call for paper event to gather papers which have a high quality and is expected to become references by the academia and policy makers particularly related in the economy and Islamic finance.
Impact investing refers to investments made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return. Impact investing can provide capital to address the world’s most pressing challenges in sectors that become the focus of Sustainable Development Goals (SDGs) such as sustainable agriculture, renewable energy, conservation, microfinance, and affordable and accessible basic services including housing, healthcare, and education.
Islamic finance is very well-positioned as a framework for impact investing due to its underlying ethical principles and moral considerations. Even, Islamic finance and impact investing can be complementary in some areas - both occupy leading positions in the value-based investment universe, possess rigorous moral and social criteria and share a broader understanding of the relationship between capital and society at large. The reality, however, the contribution of Islamic finance in impact investing is still very limited, including in Indonesia. Currently, impact investing become one of the main programs in Sharia Economic and Financial Master Plan made by the National Development Planning Ministry (Bappenas).
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Minister of Finance of Indonesia
Born in Bandar Lampung on August 26, 1962, Sri Mulyani Indrawati earned her bachelor degree in Economics major from the Universitas Indonesia (1986). Then she continued her study in the University of Illinois Urbana Champaign, United States and earned Master of Science of Policy Economics (1990). In 1992, she earned Ph.D of Economics.
This specialist of Monetary Economy and Banking as well as Labor Economics research was chosen to be the Executive Director of International Monetary Fund (IMF) representing 12 countries in the South East Asia (SEA Group) at the beginning of October 2002. Starting from November 1, 2002, she represented 12 member countries of SEA Group at International Monetary Funds.
On December 5, 2005, she was appointed to serve as the Minister of Finance. During her devotion as the Minister of Finance, Sri Mulyani Indrawati achieved many achievements, such as stabilizing macroeconomy, maintaining prudent fiscal policy, decreasing cost of loan and managing debt as well as creating trust to investors.
Minister of Finance’s reform was led by her very well. Hence, it created many fundamental changes in the Ministry of Finance. On September 18, 2006, Sri Mulyani was crowned as the best Minister of Finance in Asia by the Emerging Markets in the sidelines of World Bank and IMF’s Annual Session in Singapore.
She was also elected as the 23rd world’s most influencing woman from Forbes magazine in 2008 and the 2nd most influencing woman in Indonesia from Globe Asia magazine in October 2007. Sri Mulyani was also awarded as the best Minister of Finance for 2006 from the Euromoney and the best Minister of Finance in Asia by the Emerging Market Forum on the same year.
In 2008, she served as the Acting Coordinating Minister for Economic Affairs after the Coordinating Minister for Economic Affairs Dr. Boediono was inaugurated as the Governor of Bank Indonesia. Then she was appointed as the Executive Director of World Bank commencing on June 1, 2010.
On July 27th, 2016, President Joko Widodo inaugurated Sri Mulyani Indrawati as the Minister of Finance in his Working Cabinet. On February 11th, 2018, the World Government Summit has announced her as the best minister in the world.
Minister of National Development Planning, Republic of Indonesia, Chairman of Indonesian Association of Islamic Economist
Bambang Permadi Soemantri Brodjonegoro is currently the Minister for National Development Planning (Bappenas), having been appointed to that role by President Joko Widodo on 27 July 2016. He was previously the Minister for Finance (from 27 October 2014 to 27 July 2016) in President Widodo’s Working Cabinet. Under President Susilo Bambang Yudhoyono’s administration, Bambang served as the Deputy Minister for Finance (from 3 October 2013 to 20 October 2014).
Bambang is one of Indonesia’s leading economists, with a Bachelors Degree in Economic Development and Regional Economy from the University of Indonesia (1990), and a Masters Degree (1995) and PhD (1997) in Urban and Regional Planning from the University of Illinois, USA. His areas of expertise include regional economics, fiscal decentralisation, public finance, development economics, urban economics and transportation.
Prior to his ministerial positions, Bambang’s career included Commisioner roles with PT Pertamina (a national Oil & Gas company); PT Aneka Tambang (a State-owned mining company); PT Adira Insurance; and PT PLN (the national electricity company). He is active on a number of international boards including the ASEAN Infrastructure Fund and the ASEAN+3 Finance and Central Bank Deputies Meeting.
He is a committed and active academic, currently a Professor of Economics at the University of Indonesia. Prior experience has included positions as guest lecturer in the Department of Urban and Regional Planning with the University of Illinois; Director General of the Islamic Research and Training Institute at the Islamic Development Bank; and Decan of the Faculty of Economics with the University of Indonesia.
He was born in Jakarta on 3 October 1966.
Director-General, Country Relations and Services Islamic Development Bank
Walid Abdelwahab joined IsDB in 1998 and currently is the Director- General of Country Relations and Services overseeing country strategy and dialogue and management of the Bank’s $25 billion portfolio across all sectors in the Bank’s 57 member countries in Asia, Africa, MENA, Europe and Latin America. Previously, Walid held the position of Infrastructure Director where he led the Bank’s infrastructure practice in energy, transport, water and urban services. He also led the introduction of public-private partnership (PPP) financing in the Bank which is now a leading line of business.
Prior to joining IsDB, Walid worked for the Ministry of Transport and Highways of British Columbia, Canada as Senior Safety Research Engineer (1991-94) and led the Ministry’s research program with the University of British Columbia (UBC) where he was an Adjunct Professor. He also taught Transportation Engineering and was Head of Civil Engineering Department at Al Isra University in Jordan (1994- 98).
While teaching in Jordan, he advised ministries of Transport, Public Works, and Municipal Affairs on various transport issue. Walid holds a Ph.D in Civil Engineering from the University of Calgary, Canada and has published extensively in various transport and economic subjects.
Resident Representative UNDP Indonesia
Christophe Bahuet has been the Country Director of UNDP in Indonesia since August 2015.
His earlier assignments with UNDP included China, Vietnam, Ghana, Uzbekistan and Ukraine. Mr. Bahuet al so worked at the UNDP Headquarters in New York, in the Evaluation Office and in Partnership Bureau. Prior to joining UNDP, he worked in the French Embassy in Yugoslavia.
Mr. Bahuet holds a master’s degree with honours from the Institut d’Etudes Politiques de Paris, a diploma in Southeast Asian studies from the National Institute of Oriental Languages and Civilizations in Paris, a law degree, and a degree in Russian from the University of Bordeaux.
Chairman of Fiscal Policy Agency - MOF
Born in Jakarta on November 23, 1970, Suahasil earned his bachelor degree majoring in Economics (SE.) from Universitas Indonesia in 1994, and his Master of Science (MSc.) degree from Cornell University USA in 1997. In 2003, he obtained his Doctor of Philosophy (PhD.) degree from University of Illinois at Urbana-Champaign USA.
Suahasil joined the government official service as a lecturer at the Fakultas Ekonomi dan Bisnis Universitas Indonesia (FEB-UI) in 1999. In 2009 he obtained the status of Professor in Economics. Within the FEB-UI, Suahasil held different positions: Head of Graduate Degree Program in Economics (2004-2005), Director of Demographic Institute (2005-2008), and Head of Economics Department (2009-2013).
Suahasil was a member of the Expert Team for Minister of Finance on Fiscal Decentralization (2009-2011). Suahasil is active in the Indonesian Economist Association (Ikatan Sarjana Ekonomi Indonesia or ISEI). He previously also active as Vice Chairman of Supervising Committee of the Indonesian Decentralization Watch (Komite Pengawas Pelaksanaan Otonomi Daerah or KPPOD) in 2009-2015. Prior to his appointment at the Ministry of Finance, Suahasil is the Policy Coordinator at the Secretariat of the National Team of Poverty Reduction Acceleration (Tim Nasional Percepatan Penanggulangan Kemiskinan or TNP2K) at the Office of the Vice President (2010-2015); and a member of the National Economic Committee (Komite Ekonomi Nasional or KEN) in 2013-2014.
Commencing on February 6, 2015, he is appointed as the Acting Chairman of Fiscal Policy Agency, and on October 31, 2016 he is affirmed as the official Chairman of Fiscal Policy Agency, at the Ministry of Finance, Republic of Indonesia.
Assistant of Minister for Financial Services and Capital Market Policy and Regulation, Ministry of Finance
Assistant of Minister for Financial Services and Capital Market Policy and Regulation
He earned his degree in 1991 majoring Accounting Economics from Brawijaya University, Malang. Then he continued his Master of Business Administration (MBA) degree from the University of Denver - Daniels College of Business, USA in 1998.
On 4 September, 4 2015 was inaugurated as Secretary of the Fiscal Policy Office, previously serving as Head of Center for Policy Analysis and Harmonization, Secretariat General. On July 28, 2017 inaugurated as Expert Staff in Policy and Regulation of Financial Services and Capital Market
Deputy Governor, Province of East Java
Emil Elestianto Dardak is an Indonesian politician who is the Vice Governor of East Java. Before becoming Vice Governor, he was the regent of Trenggalek Regency between 2016 and 2019.
Emil Dardak was born in Jakarta on 20 May 1984 as the eldest children of four siblings. Dardak studied at Singapore's Raffles Institution and later for his undergraduate degree at the University of New South Wales and he eventually completed his formal education after graduating with a doctorate from Ritsumeikan Asia Pacific University. In addition, Dardak participated in the 2018 class of the Bloomberg Harvard City Leadership Initiative, being the only Indonesian between the 40 mayors involved.
Country Manager for Indonesia, Malaysia and Timor-Leste - International Finance Corporation (IFC)
Azam Khan is the Country Manager for Indonesia, Malaysia and Timor Leste based in Jakarta. Prior to this appointment he was the Chief Investment Officer, Infrastructure East Asia and Pacific, based in Singapore. Khan joined IFC in 2000 as an Assistant Investment Officer in the Private Equity and Investment Funds Department based in Washington, DC. He has since held various strategic positions. In 2003, he spearheaded the Private Equity Investments in South Asia, and built strong pipeline of private equity funds and led high visibility transactions for IFC.
From 2003 to 2011, Khan led IFC's private equity business in East Asia and South Asia. In this position he was also entrusted as the Global structuring specialist for all Infrastructure and Distressed debt funds where he negotiated transactions with lead players in respective sectors in Asia, Middle East, Africa, Latin America, and Russia. During his long tenure of covering Asia, he successfully nurtured and built deep network of relationships through Private Equity houses.
Prior to joining IFC, Khan pursued an extensive career in engineering and finance in Pakistan and Middle East.
He holds a Master of Engineering and MBA degrees from Purdue University, Indiana, USA.
Director Angel Investment Network Indonesia
David Soukhasing is the Managing Director of ANGIN, the most active Angel Investment Network in Indonesia. He is also the Managing Partner of ANGIN Women Fund, which pioneer ed the field of gender lens investing in Indonesia. He was previously Investment Manager in charge of Indonesia for LGT VP, a global impact investor supporting organizations with social and environmental impact. Prior to that, David concentrated his work in the Private Equity industry before jumping himself in entrepreneurship. David is also a mentor and Consultant for several organizations in Indonesia: Founder Institute, Ashoka, BEKRAF, Unltd Indonesia, Plug & Play.
Senior Advisor for Innovative Financing UNDP
Joanne provides policy advice and technical assistance to countries in Asia Pacific with a focus on the interface between domestic and international climate finance. She has over 16 years’ experience in Climate Change, Environment, and Livelihoods promotion and disaster management in Africa and South East Asia. Joanne can be contacted at joan.manda@ undp.org
Chief Executive Officer, PT Mekar Investama Sampoerna
Thierry Sanders is CEO of Mekar. He was appointed in March 2014 and has been leading Mekar as it transforms and grow to become one of Indonesia's most prominent P2P lending platforms. He also serves as a member of Putera Sampoerna Foundation Advisory Board and is a Director and Founder of bidX, a web-platform that matches SMEs in developing countries with investors.
Prior to joining Mekar, he held a variety of roles including serving as an advisor to the Global Entrepreneurship Programme of US President Obama at U.S. Department of State.
President and Chief Executive Officer of the International Centre of Education in Islamic Finance (INCEIF)
Azmi Omar serves as the President & Chief Executive Officer of INCEIF - The Global University of Islamic Finance since October 2017. Prior to this he was the Director General of Islamic Research and Training Institute (IRTI), Islamic Development Bank (IDB) Group, Jeddah, Kingdom of Saudi Arabia where he held the position for almost six years and A senior professor and university administrator at the International Islamic University Malaysia for almost 30 years. At IRTI, Azmi pioneered and introduced many innovative policy researches which culminated into flagship reports such as IRTI Islamic Social Finance Report and IDB-World Bank Global Report on Islamic Finance.
Azmi has also advised and provide technical assistance to a number of IDB member countries in their implementation Islamic Finance. He is a member of the External Advisory Group for the International Monetary Fund (IMF) Interdepartmental Working Committee on Islamic Finance and Board of Trustees of Responsible Finance Institute (RFI) Foundation. Azmi was awarded “The Most Outstanding Individual Contribution to Islamic Finance” in the KLIFF Islamic Finance Awards 2015. He also serves as the Islamic Finance Expert to the Autoriti Monetari Brunei Darussalam.
Founder, Blossom Finance
Matthew J. Martin is a pioneer in the application of FinTech for Islamic finance. Combining his passion for Islamic finance with his deep financial technology background, Matthew founded Blossom Finance in 2014 which aims to increase the availability and inclusivity of Islamic finance using blockchain.
Matthewâ€™s background includes engineering and product management experience in the digital wallet, payment card, money remittance, mobile payments, and mobile banking sectors at venture capital funded, international tech startups Xoom, Boku, and Monitise. He has advised technology startups on FinTech and blockchain, and spoken to international audiences in the USA, Qatar, Bahrain, UAE, Singapore, Malaysia, and Indonesia. Prior to Blossom, Matthew started his first blockchain related venture in 2013 - when Bitcoin was less than $100 USD - which allowed instant purchase of Bitcoin in 27 countries using just a mobile phone.
Matthew has studied 8 languages and speaks Indonesian, Farsi, and French at an intermediate level in addition to his native English. Matthew embraced Islam in 2010 and currently lives in Jakarta, Indonesia.
Director General of Budget Financing and Risk Management, Ministry of Finance
Luky Alfirman has been assigned as Director General of Budget Financing and Risk Management, MoF Indonesia since December 2017. He is responsible primarily for managing public debt, including government securities and loan, and government risks as well as fiscal support for Public Private Partnership (PPP) projects.
Luky Alfirman has been working for the Indonesian Ministry of Finance (MoF) for more than 20 years. Before taking his current position as Director General, he was Assistant Minister for State Revenue Policy, in which he was tasked to advise Minister of Finance in the areas of both tax revenue and non-tax revenue policies, including but not limited to income tax and value added tax (VAT), excise tax, import and export duties, natural resource royalty, SOE dividends, other ministries revenues. He was the Director of Center for Policy Analysis and Harmonization, also known as Finance Minister’s Chief of Staff for almost 2 years. He also worked for Fiscal Policy Agency and Directorate General of Taxes for many years. He has a wide range of work experiences, including policy making in headquarter and operation in the field offices. He was also a lecturer in the University of Indonesia, teaching public finance courses for graduate school of economics.
Luky Alfirman holds a PhD in economics from the University of Colorado, Boulder, USA, focusing on public finance, and a bachelor degree in industrial engineering from Bandung Institute of Technology (ITB). He has participated in numerous international trainings in the areas of public finance, taxation, risk management, good governance, and leadership, organized by various institutions, such as University of California Berkeley Haas School of Business, University of Chicago Booth School of Business, John F. Kennedy School of Government, Harvard University, IMF, AuSAid and ADB Institute. With the wide range of study and work experiences, he has been invited as a resource person in some international forum and seminars held by OECD, IMF, ADFIMI, Economist magazine, Indonesia Investor Forum.
Karim Consulting Indonesia
Mr. Adiwarman Azwar Karim is an icon of Islamic Economics and Finance. He earned degrees from Institut Pertanian Bogor, Universitas Indonesia, European University (Belgium) and Boston University (USA). Then he was appointed as a Visiting Research Associate at Oxford Center for Islamic Studies in UK.
Formerly, He was on the management of Bank Muamalat Indonesia. He is the author of seven best selling books in Islamic Banking, Islamic Economics and History of Islamic Economics. He wrote more than 70 papers and presented in the third, the fourth and the fifth International Conference on Isla mic Economics sponsored by IDB, the 76th Annual Conference of the International Western Economics Association and other international & national forums.
Currently, he is appointed as Founding Partner of Karim Consulting Indonesia (2013 – Present), Vice Chairman of Majelis Ulama Indonesia (National Board, Council of Indonesian Ulama, 2010 – Present), Independent Commisioner of Bank Sahabat Sampoerna (January 2012 – Present), Member of Institute of Indonesia Chartered Accountants (DSAS IAI, 2016 – 2020), Chairman on Islamic Finance Indonesian Chamber of Commerce and Industry (KADIN, 2015 - 2020), Member of The Indonesian Association of Islamic Economist (DPP IAEI, 2015 – 2019), International Islamic Financial Market (IIFM) Shari’ah Advisory Panel (January 2011 – 2012), Sharia Advisory Board of Great Eastern Syariah Insurance (2002 - 2012), Prudential Life Assurance (2007 – 2012), Bank Danamon Syariah (2002 – 29 April 2010 General Share Holder Meeting), HSBC Syariah Indonesia (2003 – 31 March 2008), Fortis Investments and UFOMulti Level Marketing Company (2007 – 29 February 2012).
Deputy Director of UNDP's Istanbul International Center for Private Sector in Development (IICPSD)
Gulcin Salingan is the Deputy Director of UNDP Istanbul International Center for Private Sector Development (ICPSD) in Istanbul. Gulcin has more than two decades of experience with both private sector and governmental institutions. Before joining the IICPSD, she was holding the Deputy Team Leader position in the EU project called “Technical Assistance for Empowering SMEs for Netw orking and Interregional Cooperation” and working closely with the Ministry of Economy and the Ministry of Science, Industry and Technology of Turkey. She was involved in numerous EU-funded projects, starting and managing 5 cluster initiatives as the EU Business Center Director and working for few years as an EU expert. She also worked with UNDP as a senior consultant for the Development of a Cluster Support Programme for the Ministry of Science, Industry and Technology. She took different assignments on competitiveness, entrepreneurship; SME development; regional development and strategic business planning in different projects during her career as freelance consultant. She introduced a Danish company `Eurowater AS` to the Turkish market and found a local partner for its operations in Turkey as well as introduced and established the subsidiary of an American company, Finzoom Financial Guide Network of Portals in Turkey. Before establishing her own consultancy company, Gülçin Sal?ngan started her career in Price Waterhouse working in Lisbon and Istanbul offices. She served as Finance Manager in The Coca Cola Company for the South East Europe Region covering Slovenia, Bosnia, Albania, Bulgaria and Romania after working with The Coca Cola Company Bottling Operations in Turkey. Gulcin completed her BA degree in Bosphorus University in Business Administration in Istanbul, followed by a post graduate study in Westminster University in London and got her masters degree in Istanbul with a thesis related to clusters development. She presently continues her Ph.D. degree in Management.
Lead Research Economist
Dr Mohammed Obaidullah is a Lead Research Economist, acting as the Division Manager, Islamic Economics and Finance Research Division at IRTI, a member of the Islamic Development Bank (IsDB) Group at Jeddah, Saudi Arabia. His areas of interest include Islamic finance, development finance, social finance and digital finance. He began his association with the IsDB Group as an Economist in 2006. He concurrently held the position of 2nd Yayasan Tun Ismail (YTI) Chair Professor in Islamic Finance at the Islamic Sciences University Malaysia (USIM) at Kuala Lumpur, Malaysia during 2014-15. Dr Obaidullah has served as the Secretary General - International Association of Islamic Economics and Founding Member - World Zakat Forum. He also founded IBF Net: The Islamic Business and Finance Network and its online academy at IIIBF.Com in 1999.
Dr Obaidullah has also served the King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia, the International Islamic University Malaysia, and the Xavier University, India as an Associate Professor of Finance.
Dr Obaidullah is a Certified Trainer of Trainers in Microfinance by the Asian Development Bank Institute and Certified in Digital Money by the Fletcher School of Law and Diplomacy and the Digital Frontiers Institute. He holds a Ph.D. and a Master of Business Administration (MBA) degree from India.
Currently, his passion is to write a blog on Islamic social finance focusing on zakah, awqaf, hajj and not-for-profit microfinance. He writes at https://sadaqa.in
Some of his recent contributions:
Islamic Social Finance Report 2014, 2015 and 2017 (Project Leader and Principal Author) Introduction to Islamic Microfinance, IBF Net, New Delhi, 2006
His book Islamic Financial Services, Scientific Publishing Centre, King Abdulaziz University, Jeddah, Saudi Arabia, 2005 has over 320 citations alone and all his publications together, have 1200+ citations as per Google Scholar.
Research and Product Development Manager, Refinitiv
Shaima Hasan is a Proposition and Bespoke Solutions Manager at Refinitiv Islamic finance division with 10 years of professional experience. Shaima is leading the research team and responsible for developing various Islamic Finance knowledge solutions that serve the growth of Islamic Finance Industry. As an Islamic capital Market specialist, Shaima is a lead author of several Thomson Reuters reports such as Sukuk Perceptions & Forecast Study, Global Islamic Asset Management, Islamic Finance development indicator and many others. She has worked in developing other market initiatives such as creating market indices including Islamic Finance Development Indicator (IFDI) and The Global Islamic Economy Indicator (GIEI). As a key figure in the Islamic Finance area, Shaima has also conducted and provided many training sessions and presentations regionally and globally. Previously, she worked within fixed income portfolio management of both conventional bonds and Sukuk for one of the largest banks in Bahrain managing over $500 million worth of fixed income instruments for more than 2 years. Shaima is PMP certified and holds a bachelors degree of Business Administration with a concentration in Accounting & Finance from American University of Sharjah.
National Sharia Board, The Council of Indonesian Ulama (MUI)
Mr. Muhammad Maksum is lecturer at the Faculty of Sharia and Law Syarif Hidayatullah State Islamic University. He is also as secretary of Islamic banking department at National Sharia Board (Dewan Syariah Nasional/DSN), Indonesian Ul ema Council. His mayor in sharia law, contract law, and Islamic economic law. He has got his bachelor degree in sharia law from State Islamic Institute Jakarta (2001), master degree (2006) and Ph.D degree (2013) in Islamic economic law from State Islamic University Jakarta. His second master from University of Perpignan France in comparative law (2016).
Faculty Member, BINUS University
Chairman of Social Islami Bank Limited
Prof. Md. Anwarul Azim Arif, the Chairman of the Board of Directors of Social Islami Bank Limited was the Vice Chancellor of University of Chittagong from June 15, 2011 to June 14, 2015. He completed B.Com (Hons) and M.Com from the University of Chittagong. Later, in 1982, he completed MBA from the University of the Philippines. In January 1976, Prof. Arif started his career as lecturer in the University of Chittagong and ended up as Vice-Chancellor of the same Unive rsity. During his career in the University of Chittagong Prof. Arif served as the Chairman of the Department of Management from 1992-95. He also served as the Vice Chancellor of Premier University from 2002 to 2006 and as Pro-Vice Chancellor of Chittagong University from July 2001 to November 2001. He was also the Dean of Faculty of Commerce, University of Chittagong from 1994-96. Prof. Arif was elected President of Chittagong University Teachers Association from 1995-97 and as Secretary General, Bangladesh University Teachers Association Federation from 1996 -97. He was a member of Executive Committee of Association of Management Development Institutions in South Asia (AMDISA), Hyderabad, India, a regional organization of management institutions of SAARC countries from 1994 to 96. Prof. Arif was also elected as a Member of Chittagong University Syndicate from 1997 to 98. Prof. Anwarul Azim Arif has discharged his responsibilities as a member of Chittagong University Senate from 1986 to 2015. Prof. Arif was a responsible member of Chittagong Education Board and also a member of Bangladesh Plantation Employees Provident Fund Trustee Board nominated by the Ministry of Labor and Employment, Government of Bangladesh. He also participated in different trainings, seminars and workshops both in home and abroad. Prof. Md. Anwarul Azim Arif visited different countries across the world including United States of America (USA), Netherlands, Germany, France, Belgium, Norway, Australia, Japan, South Korea, Thailand, Taiwan, Singapore, Malaysia, Srilanka and India. Prof. Md. Anwarul Azim Arif was nominated for the "Best B School Award 2012" of Asia by "The World Education Congress". He was also awarded United Nations Human Rights Award, 2004 for extraordinary performance in the field of human rights & social works. Prof. Arif received A/D/C Fellowship in 1980, CBC Fellowship in 1996, US International Visitors Award in 1989 and received such others awards & scholarships for his excellent academic performances.
Indonesia Waqf Board
Imam T. Saptono (49 years) is a former president director of an Islamic bank, which is currently pursuing the world of waqf. Currently he is the vice chairman of the Indonesian Awqaf Board (BWI) , he also the CEO and commissioner of several waqf companies that are members of the ACT (Aksi Cepat Tanggap) foundation. He completed his doctoral degree at Bogor Agricultural University (IPB) in the field of agribusiness management. He also actively teaches magister management programs at IPB business school as well as a corporate values ??and strategic consultant.
His social activities were run in the 212 community as 212 cooperative co-chairs, as well as associate producer of the films "212 The Power of Love" and "Hayya the Movie" and the author of the book "Maybe I Am Radical"
Expert Staff for Synergy of Economic Affairs and Financing
CEO of HSBC Amanah Malaysia
Oz is a career Islamic finance professional with extensive experience in wholesale and retail banking. He has worked across Europe, the Middle East and Asia. In his early career he distinguished himself in innovating Islamic finance solutions across various jurisdictions and has advised governments on Islamic finance regulation. He is credited with material contributions to the development of the Global Sukuk market, particularly on structuring and considered a subject matter expert. Amongst his many achievements, Oz has originated and executed multiple first to market Sukuk transactions across the Middle East and Asia including of note the first public Sukuk related to Makkah development, the first non-OIC sovereign Sukuk and the first vaccine Sukuk. In 2018 he oversaw the issuance of the World’s First UN SDG Sukuk issuance for HSBC Amanah Malaysia (awarded Overall, ESG and Country Deal of the Year by IFN), and represented a Malaysian mission to the UNGA to discuss Islamic finance and its role in achieving the UN SDGs. In recent years Oz has distinguished himself as a thought leader in Islamic finance for social impact and values-based intermediation in banking. In 2018 he was awarded Islamic Banker of the year by The Asset.
Oz started his career as a Strategy Analyst, Financial Services with Accenture London. Thereafter, he joined HSBC Group in 2005 leaving for Barwa Bank of Qatar in 2013 to rejoin in 2016 as CEO of HSBC Amanah Malaysia, HSBC Group’s global centre of excellence in Islamic finance.
He holds an MBA with distinction from London Business School’s executive program and has a Bachelor’s degree from University College London and a Master’s degree from The University of Bristol. He is a Chartered Professional in Islamic Finance with the Chartered Institute of Islamic Finance Professionals and a Chartered Banker with the Asian Institute of Chartered Bankers. He is currently an EXCO and Council member of AIBIM, Association of Islamic Banking and Financial Institutions Malaysia. Oz is the first foreigner to hold a position at the AIBIM EXCO.
Head of Islamic Economic Department, Faculty of Economics and Business, Universitas Airlangga
Independent Commissioner/Acting as President Commissioner
Iggi H. Achsien is currently an Independent Commissioner at Bank Muamalat Indonesia Tbk, the first shariah-compliant Bank in Indonesia. He is also member of National Shariah Board in Indonesia.
Iggi is actively involved in Islamic Finance industry, as he has been known as pioneer in Sharia Bonds (Sukuk) market in Indonesia with issuance of the first Sharia bonds of Indosat Mudharabah in 2002. He was also involved in advising for structuring of the first Sukuk Negara issuance with Ministry of Finance.
Iggi has Investment Manager license and received awards for Best Islamic Fixed-income Mutual Funds from Investor Magazine Indonesia in 2008-2011, when working as Managing Director at PT Insight Investment Management.
In 2012, Iggi served as an Independent Commissioner for AJB Bumiputera 1912, an oldest and the only mutual insurance company in Indonesia. A year later, he also had experience as commisioner in credit insurance company, PT Jamkrida Jabar, that carries the mandate to help business for cooperatives, micro small and medium enterprises in West Java Indonesia.
Iggi has experiences in the field of investment banking, fund management, insurance, sharia banking and advisory in more than 18 years. He holds bachelor degree in Financial Management from Faculty of Economics University of Indonesia with cum laude honor. He has completed the Global Leadership Executive MBA (GLEMBA) Program, a dual degree between Institut Teknologi Bandung (ITB) and Aalto University Finland.
Country Manager, IsDB Group Regional Hub Indonesia
Currently, Ishthiaq Akbar is the Country Manager in the Islamic Development Bank (IsDB) Group Regional Hub in Indonesia, and is tasked with relationship and partnership management, business development, and IsDB Group strategy development for the IsDB Member Countries in the South East Asia Region (i.e. Brunei, Indonesia and Malaysia).
Prior to this, Ishthiaq was the Operations Portfolio Manager in the IsDB Group Country Gateway Office Indonesia for 3 years, where he helped to supervise and manage an active public sector portfolio of over USD 2 billion financing from IsDB.
During his career in the IsDB spanning over 13 years, Ishthiaq has worked on managing a cumulative portfolio of more than 20 development projects amounting to more than USD 1 billion, across 10 countries in Asia and Africa. A key highlight of his work was being one of the pioneers who initiated the Community Driven Development Projects in in the IsDB Group, starting with the ICDD program in Indonesia, in support of the National Program of Community Empowerment (or PNPM-Mandiri).
Ishthiaq Akbar is a Sri Lankan national and he joined the IsDB Group in 2005, after finishing his undergraduate and post-graduate (doctoral) studies in Mechanical Engineering at Imperial College London, UK.
Indonesian Association of Islamic Economist (IAEI)
Dr. Rifki Ismal is the Deputy Director in the Department of Islamic Economics and Finance (DEKS) – Bank Indonesia (central bank of Indonesia) and a lecturer in some Universities including Tazkia College of Islamic Economics. He has got his bachelor degree in Economics from University of Indonesia, master degree also in Economics from University of Michigan – Ann arbor (USA) and PhD degree in Islamic economics and finance from Durham University (England). He has published some books under John Wiley and Sons, Springer, ISRA and Routledge including more than 40 papers published in international reputable (scopus) journals.
Dr. Sutan Emir Hidayat is currently the Director of Islamic Financial Education and Research at the Indonesian National Islamic Finance Committee (KNKS). He was an associate professor and Head of Business Administration Department at University College of Bahrain (UCB). Dr. Hidayat obtained his PhD in Islamic Banking and Finance and his MBA in Islamic Banking and Finance both from the International Islamic University Malaysia (IIUM). In Bahrain, Dr. Hidayat is also a member of advisory committee for Centre of Islamic Finance at Bahrain Institute of Banking and Finance (BIBF). In BIBF, Dr. Hidayat is also a trainer for Islamic accounting standards and Accounting for Islamic Financial Institutions module at the Advanced Diploma in Islamic Finance (ADIF) program and CIMA Diploma in Islamic Finance (CDIF) program. Dr. Hidayat is actively engaged with academic research in his field. He has presented several research papers at reputable international conferences such as the 11th Harvard University Forum on Islamic Finance at Harvard Law School, Massachusetts, the USA, the Gulf Research Meeting at University of Cambridge, United Kingdom, International conferences and workshops held by Islamic Research and Training Institute (IRTI) of Islamic Development Bank (IDB). He was also invited to speak at renowned industry-based conferences such as the AAOIFI-World Bank Annual Conference on Islamic Banking and Finance, Deloitte-IRTI Executive Workshop 3 on Talent Development in Islamic Finance, and the 11th Middle East Insurance Forum. In 2015, through collaboration with IRTI-IDB, as the Chairman of the Organizing Committee, Dr. Hidayatsuccessfully held a thematic workshop on Macroprudential policies and regulations for Islamic financial industry: Theory and applications. In 2016, Dr. Hidayat also successfully chaired the thematic workshop on Exploring Islamic Economic, Finance and Business Issues Research in the Middle East and South East Asia. In Indonesia, Dr. Hidayat was also invited to give general lectures in many universities such as University of Indonesia and Airlangga University. Dr. Hidayat has published several research papers in peer reviewed international journals. Among them are International Journal of Islamic and Middle Eastern Finance, Emerald and Journal of Islamic Economics, Banking and Finance. In addition, he is also an associate editor for Journal of Islamic financial studies and many other journals. During his career, Dr. Hidayat has published 2 books and contributed chapters in five books, supervised 37 master theses and examined 1 Ph.D thesis and 21 master theses in Bahrain, Brunei Darussalamand Indonesia. Dr. Hidayat is also an Islamic finance journalist. He regularly publishes articles in Islamic Finance News (IFN-Red Money), regularly publishes articles about Islamic finance in Daily Tribune, a newspapers in Bahrain, published an article in ISFIRE magazine, UK, and Global Islamic Finance Magazine, UK. As part of his community service, Dr. Hidayat was involved in developing examination questions for Certified Islamic Professional Accountant (CIPA), a professional certificate offered by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). In addition, he was also involved as the external validation and revalidation committee for Advanced Diploma in Islamic commercial Jurisprudence at BIBF. Finally, ISFIN, a leading advisory firm for Islamic markets, recognized Dr. Hidayat's contribution to the Islamic Economy by listing him in a directory named Islamica 500 as one of the top influential 500 personalities on a global scale in 2015, 2016, 2017, and 2018.
Global Lead Islamic Finance Expert Islamic Development Bank
Dr. Houssem eddine Bedoui is a Global Lead Islamic Finance Expert at the Islamic Finance Development Bank. As part of his work at the Islamic Development Bank, he actively contributes to the structuring, launch, and implementation of innovative products and processes for the market. Besides, Dr. Bedoui is CIBAFI and ATD certified trainer (MTP: Master Trainer Program).
He has several entrepreneurial experiences putting Islamic finance principles and products into practice. He has a Master’s from Telecom SudParis Engineering School (INT), France; an MBA from IE Business School (Spain); a Ph.D. from ENS (École Normale Supérieure, France); he is also an Alumni from Harvard Kennedy School (CID, Center for International Development). His interests comprise Islamic capital markets, fintech, blockchain, impact investing, social entrepreneurship and finance, and competitiveness.
Globally recognized in the top 500 leading figures and influential personalities in the Islamic world and economy in 2017 and 2018 (ISLAMICA500).
National anthem: Indonesia Raya
H.E. Dr. Walid Abdelwahab, Director-General, Country Relations and Services Islamic Development Bank
Christophe Bahuet, Country Director of UNDP in Indonesia
Panel Session 1: What is The Impact Investing and How It can Help in Achieving SDGs
This session would discuss about the impact investment in general, that includes operating principles, what is needed to scale up,
best practice experience, and also the case in Indonesia.
Discussion Chair : Dr. Rifki Ismail, Chief of Indonesian Association of Islamic Economist (IAEI)
Prof. Dr. Mardiasmo, MBA., Akt., Vice Minister of Finance of Indonesia
Opening, Photo Session and souvenir presentation
(MoF proceeds to Press Conference Room)
Dhuhur Prayer & Lunch Break
Guest Lecture 1 :
Blending Islamic Finance and Impact Investing for The Global Goals
Ms. Gulcin Salingan, Deputy Director of UNDP's Istanbul International Center for Private Sector in Development (IICPSD)
Panel Session 2: Islamic Finance for Impact Investing: Opportunity and Challenges
This session would review correlation between impact investing and Islamic finance including the similarity, collaboration,
and opportunity both in domestic and international level.
Discussion Chair : Dr. Sutan Emir Hidayat, SP, MBA, Director of Research and Education
Call for Paper, Parallel Presentation
PIC: Faculty of Economics and Business, Airlangga University
Guest Lecture 2 :Blockchain Technology and Impact Investing for SDGs
Dr. Houssem Eddine Bedoui, Islamic Finance Sector Development Department, IsDB
Keynote Speech :
H.E. Prof. Dr. Bambang P.S Brodjonegoro, Minister of National Development Planning
Announcement of Call for Paper Winner and Awards by H.E. Prof. Dr. Bambang P.S Brodjonegoro
(MoDP proceeds to Press Conference Room)
Panel Session 3: Islamic Finance for Impact Investing: How to Make It Works
This session would elaborate the technical aspect to implement Islamic finance for impact investment, consist of the platform, instruments, risks, opportunities, mitigation strategies, and fatwa support
Discussion Chair : Prof. Raditya Sukmana, Kepala Departemen Ekonomi Syariah Unair
Photo Session and souvenir presentation
Panel Session 4: Islamic Social Finance and Impact Investing
This session would discuss about best practice and implementation of Islamic social finance particularly cash waqf
which have opportunity to support impact investing.
Discussion Chair : Iggi H Achsien (MES)
Photo Session and souvenir presentation
Panel Session 5: Role of Government to Support Islamic Finance for Impact Investing
This session would explore the government’s role to support Islamic finance for impact investment that includes Indonesia’s masterplan of
Islamic economic and finance, Malaysia experience, and policy mixed.
Discussion Chair : Dr. Mohamed Ishthiaq Akbar, Country Manager IDB Group Regional Hub Indonesia
Arif Baharudin, Assistant of Minister for Financial Services and Capital Market Policy and Regulation, Ministry of Finance