3rd – 5th November, 2015

Kuala Lumpur, Malaysia

Securing financial stability and generating growth is at the top of the global economic agenda, especially after years of uncertainty and sluggish development following the 2008 financial crisis. More and more countries, Muslim and non-Muslim, are now seeking an economic model that is more equitable and sustainable. The concept of the Islamic economy is increasingly gaining global traction in the past few years. It has been proven to be more resilient, and it has presented to the world its vast potential to bring upon peace and prosperity with its underlying principle of being ethical and inclusive.

The 11th WIEF saw the continuous promotion of Islamic economy as it convened world leaders, government representatives, economists, academia and the business community to address economic and social issues. The Forum also promoted the values of cross-border business and economic partnerships as it provided an international platform for governments and the business community to showcase their cutting-edge ideas, galvanise support, and recruit collaborators.

The 11th WIEF was held on 3-5 November 2015 at Kuala Lumpur Convention Centre, Kuala Lumpur, Malaysia

Download the forum report here.

Session Topics:

  • Panel Discussion: Islamic Finance for Green Technologies
  • Masterclass: Creating a Circular Economy with Zero-Waste Technologies
  • CEO Panel: Balancing Shareholder and Stakeholder Interenst for Sustainable Profit
  • Masterclass: Understanding the Potential of Artificial Intelligence
  • Panel Discussion: Developing a Halal Ecosystem in New Markets
  • Panel Discussion: Achieving Equitable Growth in ASEAN’s Urban and Rural Areas
  • Masterclass: Developing World Class Human Capital in Islamic Finance
  • Ministerial Dialogue: Building Resilient SMEs for Sustainable Growth
  • Masterclass: Building an SME Regional Ecosystem
  • Panel Discussion: Biotech Startups and Their Role in Bioeconomy
  • Masterclass: Building a Globally Recognised Halal Certification Standard
  • Panel Discussion: When Ideas Meet Funds
  • Panel Discussion: Empowering Rural Woman Entrepreneurs
  • Masterclass: The Food Problem – Synergising Food Supplies and Logistics
  • Masterclass: E-Commerce in SME Development
  • Panel Discussion: Islamic Fashion Industry: New Trends, New Markets
  • Masterclass: Women Empowerment: ASEAN Case Studies
  • Masterclass: SME’s and Internationalisation
  • Panel Discussion: Youth Startups, Future Markets and Social Profits
  • Masterclass: Bringing Free Quality Education to Villages
  • Panel Discussion: SMEs’ Gateway to Localisation
  • Panel Discussion: Should Academia Include Technical Training for Industry Placements?
  • Masterclass: Islamic Social Finance and the Future of Humanitarian Action
  • Panel Discussion: The Role of Islamic Finance of Waqf in Healthcare
  • Face-to-Face: Conversation with a Personality
  • Media Debate: Entrepreneurship: A Platform of Peace



  • Soundscape Series Performance: Identity (pt. 1)
  • Sharing Circle I: Social Entrepreneurship – Sustaining Our Local Artists
  • Workshop: Motion Graphics and Audio
  • Workshop: Creating Calligraphy
  • Masterclass: Learning the Jawi Script
  • Soundscape Series Performance: Visual Tapestry in Motion
  • Panel Discussion: A Quest for Identity: Building Cultural Capital
  • Film Screening: Blessed are the Strangers
  • Masterclass: Intuition vs. Technique
  • Workshop: Malaysian Beat & Drum Circle
  • Panel Discussion: How Do We Measure a Creative & Cultural Economy?
  • Film Screening: with Maimouna Guerressi
  • Soundscape Series Performance: Past & Present
  • Soundscape Series Performance: Illuminated Words
  • Sharing Circle II: The Creative Workforce
  • MOCA Translation 6.0
  • Film Screening: Multiculturalism
  • Workshop: Scripting & Copywriting – The Art of Communication of Revive Heritage & Culture
  • Masterclass: Creating vs Copying – The Creative Process in the Arts
  • MOCAfest Soundscape Concert
  • Panel Discussion: Reviving Jawi Script Through Contemporary Arts
  • Face-to-Face: eL Seed


Complementary Programmes

  • International Centrefor Education in Islamic Finance (INCEIF) presents From Compliance to Impact: A Next Generation of Islamic Investment
  • Islamic Development Bank (IDB) presents Financial Inclusion for Achieving Sustainable Development Goals; the Role of Islamic Finance
  • Foreign and Commonwealth Office (British High Commision Kuala Lumpur) presents United Kingdom Country Showcase
  • Tropical Rainforest Conservation & Research Centre (TRCRC) presents Forest New Economy
  • Republic of Ghana presents Investment Opportunities in Ghana
  • United Malayan Land Bhd presents Investment Potential and Business Opportunity with UMLand in Residential, Commercial and Industrial Development
  • Qatar Financial Centre Authority presents Facilitating Business in Qatar and Beyond
  • Embassy of the Republic of Kazakhstan in Kuala Lumpur presents Investment in Kazakhstan
  • Securities Commission Malaysia presents Malaysia’s Islamic Capital Market – Promoting Inclusiveness
  • Universiti Utara Malaysia presents Roundtable Discussion on Bridging Leadership Deficit Gap in OIC Countries
  • Maybank Islamic Bhd presents Maybank Islamic Sponsors Programme
  • Trade and Support Division of Gangwon Provincial Government presents Inveestment Promotion of Gangwon Provence
  • Investment Promotion Agency of the Province of KwaZulu Natal presents Investment Opportunities in KwaZulu Natal
  • WIEF Businesswomen Network presents WBN Alumni Programme


  • The Hon. Dato’ Sri Najib Tun Abdul Razak
    Prime Minister of Malaysia and Patron WIEF Foundation
  • H.R.H Sultan Nazrin Muizzuddin Shah Ibni Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-Lah
    Sultan Perak Darul Ridzuan
  • H.E. Dr Dragan Covic
    Chairman of the Presidency Bosnia and Herzegovina
  • H.E. Yaqub Eyyubov
    First Deputy Prime Minister Republic of Azerbaijan
  • H.E. Dr Ahmed Mohamed Ali Al-Madani
    President, Islamic Development Bank and Honorary Fellow, WIEF Foundation
  • H.E. François Kanimba
    Special Representative of President Paul Kagame and Minister of Trade & Industry Republic of Rwanda
  • H.E. Sun Chanthol
    Special Representative of Prime Minister Hun Sen, Senior Minister and Minister of Commerce Kingdom of Cambodia
  • Hon. Tun Abdullah Ahmad Badawi
    Former Prime Minister Malaysia
  • H.E. Axel Jesson Denis Ayenoue
    Special Representative and Advisor of President of Ali Bongo Ondimba of Gabon
  • H.E. Benjamin Clement Eghan
    Special Representative of President John Dramani Mahama Republic of Ghana
  • H.E. Bambang Permadi Soemantri Brodjonegoro
    Minister of Finance, Republic of Indonesia
  • H.E. Dr. Surin Pitsuwan
    Secretary General, ASEAN
  • Dato Dr. Norraesah Mohamad
    Chairman, WIEF Businesswomen Network, Malaysia
  • The Hon. Tun Musa Hitam
    Chairman, WIEF Foundation, Malaysia
  • The Hon. Dato’ Seri Dr Ahmad Zahid Hamidi
    Deputy Prime Minister, Malaysia
  • The Rt. Hon. Lord Tariq Ahmed of Wimbledon
    Parliamentary Under Secretary of State for Transport and Parliamentary Under Secretary of State for Home Office, United Kingdom
  • Mr Sean Kidney
    Chief Executive Officer and Co-founder Climate Bonds Initiative, United Kingdom
  • Mr. Tariq al-Rifai
    Author, Writer and Advisor on Islamic Finance, States of Kuwait
  • Ms. Irfan Siddiqui
    President and Chief Executive Officer Meezan Bank Ltd., Islamic Republic of Pakistan
  • Dato Dr Nik Ramlah Mahmood
    Deputy Chief Executive Secutities Commission, Malaysia
  • Dr Imran Lum
    Associate Director – Islamic Capital Markets National Australia Bank, Commonwealth of Australia
  • Dr Janez Poto?nik
    Co-chair of the International Resource Panel, United Nations Environment Programme
  • Prof. Dr Pieternal A.M. Claassen
    Senior Scientist, Wageningen UR Food & Biobased Research, The Netherlands
  • Mr. Matthew Driver
    Group Executive, Global Products and Solutions, Mastercard Asia Pacific
  • Dato’ Muzaffar Hisham
    Chief Executive Officer, Maybank Islamic Berhad & Group Head, Islamic Banking Maybank, Malaysia
  • Mr Ayman Amin Sejiny
    Chief Executive Officer, Bank Alkhair Group, Kingdom of Bahrain
  • Mr. Aziz Senni
    Founder, Impact Partners, Republic of France
  • Mr Melih Araz
    Managing Director, ATA Holding/ATA Invest A.S., Republic of Turkey
  • Ms. Lisa Oake
    Former Co-host of CNBC Asia’s Squawk Box and Chief Executive Officer, Oake Media, Republic of Singapore
  • Dr Stefan Wess
    Chief Executive Officer, Empolis Information Management GmbH, Federal Republic of Germany
  • Mr. Azhar Kassim Mustapha
    Chief Executive Officer, Nervesis, Malaysia
  • Dr Cedomir Nestorovic
    Professor, Management Department, ESSEC Asia Republic, Republic of Singapore
  • Mr Marcos S. Jank
    Vice President, Corporate Affairs & Business Developmetn – BRF Asia Pacific, Republic of Singapore
  • Ms Hyunju Madison Shin
    Global Regulatory Affairs Manager, Daesang Corp., Republic of Korea
  • Mr Abdalhamid David Evans
    Senior Analyst, Imarat Consultants, United Kingdom
  • Ms Sophie Kamaruddin
    Anchor & Editor, Bloomberg TV Malaysia
  • Dr Abdulhasan Al Dairi
    Chairman, Bahrain SMEs Society, Kingdom of Bahrain
  • Datuk Wira Jalilah Baba
    Chairman, Crewstone International Sdn. Bhd., Malaysia
  • Mr Jamaludin Bujang
    Chief Executive, MAVCAP, Malaysia
  • Mr Martin Nygate
    Founder & Chief Executive Officer, Gentay Communications Pte. Ltd., Republic of Singapore
  • Mr Eddy Lee
    Regional Director, Asia, IdealRatings Inc, Republic of Singapore
  • Dato’ Dr Hafsah Hashim
    Chief Executive Officer, SME Corporation, Malaysia
  • Mr Sungkyu Chang
    Partner, EY Advisory Practice (ASEAN), Ernst & Young, Malaysia
  • Ms Jagjit Kaur
    Head, Digital Innovation & Transactional Banking (Wholesale Banking), Hong Leong Islamic Bank Berhad, Malaysia
  • Mr  Ariff Sultan
    Founder, Deft Intelligence, United States of America
  • Mr David Wittenberg
    Chief Executive Officer, The Innovation Workgroup, Republic of India
  • Datuk Ismail Ibrahim
    Chief Executive, Iskandar Regional Development Authority, Malaysia
  • Datuk Mohd Radzif Mohd Yunus
    Group Managing Director, SME Development Bank, Malaysia
  • Mr Linar Yakupov
    President, Association of Regional Investment Agencies, Russian Federation
  • Ms Roshika Singh
    IFC SME Consultant, FIG Advisory Services, South Asia and Adviosry Board Member, Fifteh Estate India, Republic of India
  •  Mr Roberto C. Amores
    Director-in-Charge for Agriculture, Philppine Chamber of Commerce and Industry, Republic of the Philippines
  • Dr Jomo Kwame Sundaram
    Assistant Director General & Coordinate for Economic and Social Development, Food and Agriculture Organization of the United Nations
  • Dato’ Seri Ismail Shahudin
    Chairman, Maybank Islamic Berhad, Malaysia
  • Mr Tod Gimbel
    Managing Director, Landmark Asia, Republic of SIngapore
  • Dr Amat Taap Manshor
    Chief Executive Officer, Finance Accreditation Agency, Malaysia
  • Prof. Datuk Dr Syed Othman Alhabshi
    Deputy President Academic, International Centre for Education in Islamic Finance (INCEIF), Malaysia
  • Tan Sri Rafidah Aziz
    Former Minister of International Trade & Industry, Malaysia
  • Dato’ Dr Mohd Nazlee Kamal
    Chief Executive Officer, Malaysian Biotechnology Corporation (BiotechCorp), Malaysia
  • Mr Frederic Viala
    Founder and President, Entofood Sdn. Bhd., Malaysia
  • Mr Mark Beards
    Director of Corporate Development, Cell Therapy Limited, United Kingdom
  • Dr Rikrik Ilyas
    Chief Executive Officer, Innokeys Group, Republic of Singapore
  • Dr Anwar Ghani
    Former President of FIANZ & Chairman of Halal Advisory Council, New Zealand
  • Datuk Fadilah Baharin
    Director General, Department of Standards Malaysia
  • Ms Khatija Barday-Wood
    Founder and Chief Executive Officer, EIMAN, United Kingdom
  • Dr Vicotria Kisyombe
    Founder and Chief Executive Officer, Selfina, United Republic of Tanzania
  • Ms Pacita Juan
    President, Women’s Business Council of Philippines, Republic of the Philippines
  • Dr Ashraf A. Mahate
    Head of Export Market Intelligence, Dubai Exports, United Arab Emirates
  • Prof. Dr Achmad Suryana
    Senior Researcher, Indonesia Center for Agriculture Socio Economic & Policy Studies (ICASEPS), Ministry of Agriculture, Republic of Indonesia
  • Ms Dian Pelangi
    Fashion Designer & Entrepreneur, Republic of Indonesia
  • Ms Zulfiye Tufa
    Blogger and Designer, Commonwealth of Australia
  • Ms Melanie Elturk
    Chief Executive Officer and Chief Designer, Haute Hijab, United States of America
  • Ms Alia Khan
    Founder, Islamic Fashion Design Council, United Arab Emirates
  • Ms Salome Ganibe
    Senior Consultant and Gender Expert, Gender Equality Resource Center, Inc, Republic of the Philippines
  • Assoc. Prof. Dr. Madeline Berma
    Director, Tun Fatimah Hashim Women’s Leadership Centre, Malaysia
  • Mr Sangu Delle
    Founder and Chief Executive Officer, Golden Palm Investments, Republic of Ghana
  • Mr Muhammad Fazeel
    Founder, Benecure, United States of America
  • Dr Shariha Khalid
    Co-founder,Impact Hub Kuala Lumpur, Malaysia
  • Mr Osama Manzar
    Founder & Director, Digital Empowerment Foundation, Republic of India
  • Mr Yusuf Jaffar
    Head, Social Enterprise Venture, myHarapan, Malaysia
  • Ms Rani Wemel
    Co-founder, Mymobile Uni, Malaysia
  • Ms Tina Sciabica
    Executive Director, READ (Rural Education and Development) Global, United States of America
  • Dato’ Boonler Somchit
    Board Member & Advisor, Khazanah’s Corporate Development Centre (CDC), Malaysia
  • Prof. Dr Volker Nienhaus
    Former President, University of Marburg, Federal Republic of Germany
  • Tan Sri Dr Ahmad Zaidee Laidin
    Member of the Board, Open University, Malaysia
  • Mr Mike Michalec
    Managing Director, EdTech Asia, Kingdom of Thailand
  • Tan Sri Dr Jamilah Mahmood
    Chief, World Humanitarian Summit Secretariat, United States of America
  • Mr Badlisyah Abdul Ghani
    Founding President, Chartered Institute of Islamic Finance Professionals, Malaysia
  • Mr Harris Irfan
    Managing Director, European Islamic Investment Bank plc., United Kingdom
  • H.E. Tayeb Abdulrahman Al Rais
    Secretary General, Awqaf & Minors Affairs Foundation (AMAF), United Arab Emirates
  • Mr Zeinuol Abedien Cajee
    Founder and Chief Executive Officer of the National Awqaf Foundation of South Africa, Republic of South Africa
  • Dr Mohd Lutfi Fadil Lokman
    MD., Executive Direcotr, Hospital Beyond Boundaries, Malaysia
  • Mr James Chau
    Special Contributor, CCTV News, People’s Republic of China
  • Mr Chokri Mousaoui
    Chief Executive Officer, Eternal Sun, The Netherlands
  • Ms Freda Miriklis
    Co-chair, Commonwealth Businesswomen Network (CBW)
  • Mr Kamarul Bahrin Haron
    Executive Editor Current Affairs, Astro Awani, Malaysia
  • Tan Sri Ahmad Fuzi bin Hj. Abdul Razak
    Secretary General, WIEF Foundation, Malaysia
  • Mr Fairuz Sulaiman
    Visual & Multimedia Artist, Malaysia
  • Mr Faig Ahmed
    Fine Artist, Azerbaijan
  • Mr Omar Offendum
    Hip-hop Artist, Poet & Peace Activist, United States of America
  • Mr Eddin Khoo
    Founder of PUSAKA, Malaysia
  • Mr Asad Ali Jafri
    Cultural Producer & Global, Arts Leader, United States of America
  • Q’Sound
    Trombonist, Bandleader & Composer, United States of America
  • Mr Zalfian Fuzi
    Artistic Director and Chief Executive Officer Theatre Management Associates, Malaysia
  • Mr Ruh Al-Alam
    Artist and Designer, Visual Dhikr, United Kingdom
  • Mr Scott Liddle
    Country Director, Turquoise Mountain, Republic of France
  • Ms Tasneem Chopra
    Writer & Cross-cultural Consultant, Commonwealth of Australia
  • Prof. Dr Muhammad Zainiy Uthman
    Director of Centre for Advanced Studies, Malaysia
  • Mr Muhammad Syukri Rosli
    Researcher-Entrepreneur & Founder Klasika Media, Malaysia
  • eL Seed
    Calligraffiti Artist, Republic of France
  • Prof. Dr Tatiana A. Denisova
    Scholar, Russian Federation
  • El Jeich Chighaly
    Master of the Tidinit of Noura Mint Seymali, Mauritania
  • Ms Noura Hamed Vall
    Vocalist & Master of the Ardine of Noura Mint Seymali, Mauritania
  • Caravan of Praise
    Music Ensemble, Malaysia
  • Mr Rahman Roslan
    Photographer, Malaysia
  • Mr Matthew Tinari
    Manager & Drummer Noura Mint Seymali, United States of America
  • Mr Rav Singh
    Artistic Director & Founder The Diplomats of Drums, Malaysia
  • Ms Najwa Mahiaddin
    Singer & Songwriter, Malaysia
  • Ms Maryam Golubeva
    Fine Artist, Russian Federations
  • Suphala
    Tabla Player, United States of America
  • Mr Alex Subryn
    Musician, Malaysia
  • Ms Ezrena Marwan
    Founder of Malaysia Design Archive, Malaysia
  • Ms Kelly Crosby
    Fine Artist, United States of America
  • Ms Shuhada Hasim
    Photography, Malaysia
  • Mr Adnan Razvi
    Fine Artist, United States of America
  • Ms Edwige-Reneé DRO
    Writer, Côte d’lvoire
  • Mr Saba Rifat
    Fine Artist, United Kingdom
  • Mr Jamal Rasla
  • DJ Lethal Skillz
    Turntablist, Lebanon
  • Mr Ahmed Peerbux
    Film Maker, United Kingdom
  • Ms Leila Younes El-Amaire
    Spoken Word Artist, Germany
  • Ms Nedda Kubba
    Arts Entrepreneur and Designer, Germany
  • Mr Muhammad Hafizan Abdul Halim
    Calligrapher, Malaysia
  • Ms Hamida Novakovich
    Curator, Commonwealth of Australia
  • Mr Hamza El Fasiki
    Researcher, Social Entrepreneur & Artist, Morocco
  • Mr Zohab Khan
    Spoken Word Poet, Commonwealth of Australia
  • Teakster
    Digital Artist, United Kingdom
  • Tempatan Fest
    Visual Arts, Malaysia
  • Ms Maïmouna Guerresi
    Fine Artist, Italy

The 11th World Islamic Economic Forum (WIEF) with the theme, “Building Resilience for Equitable Growth” was held in Kuala Lumpur on 3-5 November 2015.

The Forum was held against a backdrop of continuing volatility and uncertainty in the global economy, exacerbated by a rapid decline in oil and commodity prices, the currency crises and increased geopolitical insecurity.

The Forum noted the underlying strengths of Islamic economics and the growing opportunities provided with the realization of the ASEAN Economic Community (AEC) and the growth potentials in Africa for the global business community.

The Forum commenced with a Welcoming Address by the Hon. Tun Musa Hitam, Chairman of the WIEF Foundation followed by the Opening Keynote Address by the Hon. Dato’ Sri Najib Tun Abdul Raak, Prime Minister of Malaysia and Patron of the WIEF Foundation.

The Forum appreciated the presence and Special Addresses delivered by H.E. Dragan Covic, Chairman of the Presidency, Bosnia and Herzegovina; His Royal Highness Sultan Dr. Nazrin Muizzuddin Shah Ibni Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-lah of the State of Perak Darul Ridzuan of Malaysia; H.E. Yaqub Eyyubov, First Deputy Prime Minister of Azerbaijan; H.E. Dr Ahmad Mohamed Ali, President, Islamic Development Bank; H.E. Sun Chanthol, Special Envoy of Prime Minister Hun Sen, Senior Minister and Minister of Commerce, Cambodia; H.E. François Kanimba, Special Representative of President Paul Kagame and Minister of Trade & Industry, Rwanda; H.E. Ernesto Max Elias Tonela, Special Representative of President Filipe Jacinto Nyusi and Minister of Trade & Industry, Mozambique; H.E. Axel Jesson Denis Ayenoue, Special Representative and Adviser of President Ali Bongo Ondimba of Gabon and H.E. Benjamin Clement Eghan, Special Representative of President John Dramani Mahama of Ghana.

The 11th WIEF was attended by 9 Global Leaders, 13 Ministers and Government Representatives, leading corporate figures, businesswomen and young entrepreneurs, key decision makers, thought leaders, academia and representatives of the business community, civil society and creative arts industry, making up a total of 4,113 participants from 102 countries.

The Leaders provided useful and important guidance for the planning and conduct of the Forum’s activities to sustain its continued relevance and impact for the future.

  1. Utilizing impactful investments and promoting SMEs as the prime mover for building resilience for equitable growth,
  2. Adopting an innovative approach with new solutions for the development of Muslim communities and to finance crisis management and humanitarian programmes,
  3. Undertaking a unified approach and partnership to further mainstream Islamic finance into the global financial system and to improve resource mobiization and financial inclusion,
  4. Facing the challenges of globalization and emphasizing regional integration and connectivity for cross border trade and investment, technology transfer and human resource development.

The Forum saw expert discussions on building SME ecosystem and seven clusters covering women and youth, halal, education, Islamic finance, technology, sustainability and creative arts.

The parallel programmes of SME Business Pavilion, Panel Sessions, Masterclasses, Business Exchange, Ideapad, Pitching Sessions, Special Complementary Programmes, Sponsors Programmes, Country Investment Programmes, Marketplace of Creative Arts Festival and the Business Networking Breakfast proved popular and generated dialogues on opportunities for business and economic collaboration.

Among the notable recommendations at the Forum were the following:

  1. Implementations of a comprehensive Global SME Business Match-Making Network to address the barriers and sustainability challenges faced by the SME community whilst supporting the growth of SMEs.
  2. Continued promotion of Sustainable, Responsible and Impactful (SRI) Sukuk to fund development projects in order to reduce macroeconomic vulnerability and promote financial inclusion, bringing both economic and social benefits to society.
  3. Increased effort to harmonise and accelerate the process in the development of a Halal Standard for business efficiency and consumer confidence in advancing the growth of the halal industry worldwide.
  4. Establishment of an independent non-governmental WIEF International Awqaf Development mechanism with appropriate Terms of Reference to mobilise waqf resources for the benefit of the Ummah.
  5. Reposition Islamic social finance including waqf, zakat and sadaqah, as a force for global good.
  6. Launch of the WBN Alumni Network, the WBN Mentorship Programme, the WYN Alumni Network and the WIEF Young Leaders University Network.

Five agreements relating to Islamic finance, halal industry, human capital development and ICT amounting to US$350 million were exchanged during the Forum.

The Forum recorded its appreciation to the Hon. Prime Minister and the Government of Malaysia for hosting the 11th WIEF in Kuala Lumpur, Malaysia and for the warm hospitality accorded to all participants.

The Forum also acknowledged the contribution and support of Members of the International Advisory Panel, Partners, Sponsors and Role Players.

The Forum agreed to hold the 12th WIEF on 20-22 May 2016 in Jakarta, Indonesia.