2nd - 4th August 2016

Jakarta, Indonesia

The 12th WIEF in Jakarta look into the theme of decentralisation of growth, namely in acknowledging the urgent role of small and medium businesses in driving economic growth in national economies around the world, away from the previous dominance of big multinationals, which represent only a small portion of the business community of any particular country.

Decentralisation of growth towards empowering small and medium business sectors is pivotal to ensure the participation of a larger number of the population in mainstream economy. The outcome is inescapable – a resilient domestic sector, and a strong globally competitive economy. In a world led by cutting-edge technology, the only way economies can survive is to embrace change and empower future businesses to chart the business landscape of tomorrow.

The 12th WIEF was held on 2-4 August 2016 at Jakarta Convention Centre, Jakarta, Indonesia.

Download the forum report here.

Session Topics:

  • Face to Face
  • MINISTERIAL PANEL – The Role of the Private Sector in Regional Cooperation
  • GLOBAL ECONOMIC OUTLOOK – The Rise of the Consumer Economy
  • CEO PANEL – Disruptive Technology and the Rise of New Industries
  • MASTERCLASS – Achieving Synergies between Corporations and Startups
  • IDEAPAD PANEL DISCUSSION – How can ASEAN Startups Benefit from Licensed Equity Crowdfunding Platforms?
  • INDUSTRY HARDTALK – Closing the Funding Gap in Infrastructure
  • MASTERCLASS – Halal Haute Cuisine Cooking Show
  • PANEL DISCUSSION – Can Islamic Fashion Become Haute Couture?
  • MASTERCLASS – Empowering Women in eCommerce
  • PANEL DISCUSSION – Linking Islamic Financing to the Halal Sectors
  • MASTERCLASS – Innovation in Education: Preparing for the Next 10 Years
  • PANEL DISCUSSION – Restructuring SMEs and Improving Credit Access
  • PANEL DISCUSSION – SMEs in a World of Digitised Trade
  • PANEL DISCUSSION – Upgrading Indonesian Micro-Businesses in Market Access and Funding



  • Opening Keynote Speech
  • MOCAfest Visual Exhibition
  • MOCA Tranlations 7.0
  • PANEL DISCUSSION – The Business of Culture: Commercialisation or Preservation?
  • MASTERCLASS – Design Thinking in Motion
  • IDEAPAD – Creative Arts Project Pitch
  • MOCAfest Soundscapes Series
  • SHARING CIRCLE – Talent vs. Money – Bringing Business to the Arts
  • MOCAfest Soundscapes Concert
  • PANEL DISCUSSION – Islamic Cinema and Challenging Ideology


  • The Hon. Tun Musa Hitam, Chairman of the WIEF Foundation
  • H.E. Sri Mulyani Indrawati, Minister of Finance of the Republic of Indonesia
  • H.E. Joko Widodo, President of the Republic of Indonesia
  • The Hon. Dato’ Sri Mohd Najib Tun Abdul Razak, Prime Minister of Malaysia & Patron of the WIEF Foundation
  • H.E. Emomali Rahmon, President of the Republic of Tajikistan
  • H.E. Prof. Alpha Condé, President of the Republic of Guinea
  • H.E. Ranil Shriyan Wickremesinghe, Prime Minister of the Democratic Socialist Republic of Sri Lanka
  • H.E. Dr Jawad Al Anani, Deputy Prime Minister of Economic Affairs and Minister of Industry, Trade and Supply, and Special Representative of H.M. King Abdullah II, Hashemite Kingdom of Jordan
  • H.E. Maite Nkoana-Mashabane, Minister of International Relations and Cooperation, and Special Representative of H.E. President Jacob Zuma, Republic of South Africa
  • H.E. Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, and Special Representative of H.H. Sheikh Tamim bin Hamad Al-Thani, Emir of the State of Qatar
  • H.E. Oknha Datuk Othsman Hassan, Minister Attached to the Prime Minister and Secretary of State, Ministry of Labor and Vocational Training, and Special Representative of H.E. Prime Minister Hun Sen, Kingdom of Cambodia
  • H.E. Engr. Khurram Dastgir Khan, Minister of Commerce, and Special Representative of H.E. Prime Minister Mian Muhammad Nawaz Sharif, Islamic Republic of Pakistan
  • H.E. AHM Mustafa Kamal, Minister of Planning, and Special Representative of H.E. Prime Minister Sheikh Hasina, People’s Republic of Bangladesh
  • H.E. Abdesselam Bouchouareb, Minister of Industry and Mines, and Special Representative of H.E. President Abdelaziz Bouteflika, People’s Democratic Republic of Algeria
  • H.E. Dr Ahmad Mohamed Ali, President of the Islamic Development Bank, and Honorary Fellow of the WIEF Foundation
  • Elhadj As Sy, Secretary General, International Federation of Red Cross & Red Crescent Societies (IFRC), Swiss Confederation
  • Valerina Daniel, News Anchor and Communications Adviser, Republic of Indonesia
  • Andini Effendi, News Anchor, Metro TV, Republic of Indonesia
  • H.E. Bambang Permadi Soemantri Brodjonegoro, Minister for National Development Planning and Chairman of Bappenas, Republic of Indonesia
  • Arancha González, Executive Director, International Trade Centre (UN/WTO)
  • Dato’ Mohamed Rafique Merican, Group Head, Islamic Banking and Chief Executive Officer of Maybank Islamic, Malaysia
  • Handry Satriago, Chief Executive Officer, General Electric, Republic of Indonesia
  • Teymoor Nabili, Former News Anchor, Al Jazeera, Republic of Singapore
  • Ahmed Haider, Chief Executive Officer of Zookal and Director of Flirtey, Commonwealth of Australia
  • Azran Osman-Rani, Chief Executive Officer, iflix, Malaysia
  • Dr -Ing Ilham A. Habibie, CEO/President Director and Founder, PT. Ilthabi Rekatama, Republic of Indonesia
  • Shelby Clark, Co-Founder and CEO of Peers, and Founder of Turo, United States of America
  • Desi Anwar, Senior Anchor, CNN, Republic of Indonesia
  • Jordan Duffy, Director & Head of Innovation, Buckham and Duffy, Commonwealth of Australia
  • Shinta Witoyo Dhanuwardoyo, Chief Executive Officer and Founder, Bubu.com, Republic of Indonesia
  • Kyri Andreou, Co-Founder and Director, Ata Plus Sdn Bhd, Malaysia
  • Nicola Castelnuovo, Co-Founder and Chief Commercial Officer, Crowdo, Malaysia
  • Erly Witoyo, Managing Partner, Kapital Boost, Republic of Singapore
  • Ahmad Zulqarnain Onn, Executive Director of Investments and Head of Strategic Management Unit, Khazanah Nasional Berhad, Malaysia
  • Dato’ Muzaffar Hisham, Group Head of Global Banking, Maybank, Malaysia
  • Bakti Santoso Luddin, President Commissioner, PT Wijaya Karya, Republic of Indonesia
  • Dr Luky Eko Wuryanto, Vice President and Chief Administration Officer, Asian Infrastructure Investment Bank (AIIB), People’s Republic of China
  • James Chau, Special Contributor, CCTV News, People’s Republic of China
  • Jesús M. Ramirez Muñoz, Managing Director, Grupo Fuxiona, Kingdom of Spain
  • Paco Morales, Michelin Star Chef, Kingdom of Spain
  • Barbara Nicolini, Creative Director of Infinita Group and IFDC, Italian Republic
  • Didiet Maulana, Creative Director, IKAT, Republic of Indonesia
  • Faduma Aden, Founder & Creative Director, Jemmila, Kingdom of Sweden
  • Roshan Isaacs, Country Manager, Islamic Fashion Design Council (IFDC), Republic of South Africa
  • Fatma A. Elmaawy, Managing Partner, Auto Village, Republic of Kenya
  • Riski Hapsari, Founder & Owner, Koleksikikie.com, Republic of Indonesia
  • Akmal Saleem, Chief Executive Officer, Maarij Capital, Kingdom of Saudi Arabia
  • Malek Mattar, Chief Executive Officer, My Outlets Pte Ltd, Republic of Singapore
  • Mohammad Nazeem Noordali, General Manager of Corporate and Structured Finance (ITFC), Islamic Development Bank, Kingdom of Saudi Arabia
  • Sitta Rosdaniah, Financial and Supporting Director, Jakarta Industrial Estate Pulogadung, Republic of Indonesia
  • Annamaria Aisha Tiozzo, President, Italian Halal Certification Center, World Halal Development (WHAD), Italian Republic
  • Evi H. Trisna, Executive Director, Gerakan Indonesia Mengajar (Indonesia Teaching Movement), Republic of Indonesia
  • Prof. Richard Black, Pro-Director (Research & Enterprise), School of African and Oriental Studies (SOAS), United Kingdom
  • Kunrat Wirasubrata, Acting Director, Islamic Development Bank Group, Malaysia
  • Prof. Dr Volker Nienhaus, Former President, University of Marburg, Federal Republic of Germany
  • Attiya Nawazish Ali, Assistant Secretary General, Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), Islamic Republic of Pakistan
  • Dr El Hassane Hzaine, General Manager, Islamic Centre for Development of Trade (ICDT), Kingdom of Morocco
  • Essa Al Ghurair, Vice Chairman, Al Ghurair Investment LLC, United Arab Emirates
  • Ebrahim Patel, Chairman, Young Leaders Network, WIEF Foundation and Managing Director, TransAfrix Holdings, Republic of South Africa
  • Tan Sri Dato’ Dr Wan Mohd Zahid Mohd Noordin, Chairman, WIEF Education Trust, Malaysia
  • Sevket Can Tulumen, Chairman, Foreign Relations Committee, MÜSİAD Businessmen’s Association, Republic of Turkey
  • Tan Sri Dato’ Abdul Ghani Othman, Chairman of the Board Sime Darby Berhad, Malaysia
  • Dato’ Dr Norraesah Mohamad, Chairman, WIEF Businesswomen Network, Malaysia
  • Mumtaz Khan, Advisor, Nogaholding, Kingdom of Bahrain
  • Camelia Tan Sri Ya’acob, Founder and Envoy Executive, Rootwommers Sdn Bhd, Malaysia
  • Tanri Abeng, President Commissioner, PT Pertamina, Republic of Indonesia
  • Dr Adnan Chilwan, Chief Executive Officer, Dubai Islamic Bank, United Arab Emirates
  • Peniel Uliwa, Managing Partner,, SME Impact Fund, United Republic of Tanzania
  • Thione Niang, Co-Founder and President,, Solektra International, United States of America
  • Nadira Mohd Yusoff, Chief Executive Officer, Nadi Ayu Technologies Sdn Bhd, Malaysia
  • Dr Eddy Lee, Managing Partner, Coffee Ventures, Republic of Singapore
  • Philip Glickman, Regional Head of Commercial Payments, MasterCard Asia Pacific, Republic of Singapore
  • Ridzki Kramadibrata, Managing Director, Grab Indonesia, Republic of Indonesia
  • Elias Schulze, Co-Founder & Managing Director, Kana Television, Federal Democratic Republic of Ethiopia
  • Dr Atef Elshabrawy, Global Expert MENA Region, International Council for Small Business, Kingdom of Bahrain
  • James Digby, Co-Founder, Rockstart Accelerator, Kingdom of Denmark
  • Sandiaga S. Uno‎, Vice Chairman, Micro, Small and Medium Enterprises, Cooperatives and Creative Economy, Indonesian Chamber of Commerce and Industry, Republic of Indonesia
  • Hermawan Kartajaya, Founder and Executive Chairman, MarkPlus Inc, Republic of Indonesia
  • Tan Sri Dato’ Ahmad Fuzi Haji Abdul Razak, Secretary General, WIEF Foundation, Malaysia



  • Triawan Munaf, Chairman, Creative Economy Agency (BeKRAF), Republic of Indonesia
  • Jamal Raslan, Spoken Word Artist, Malaysia
  • Krom Monster, World Music Band, Kingdom of Cambodia
  • Animal Pop, Dance Group, Republic of Indonesia
  • Etson Caminha, Visual Artist and Musician, Democratic Republic of Timor-Leste
  • Joshua Puji Mulia Simanjuntak, Deputy Chairman of Marketing, Creative Economy Agency (BEKRAF), Republic of Indonesia
  • Putri Sulistyowati, Ambassador and Programme Coordinator, Indonesia Heritage Trust, and Chief Executive Officer, G&B Guitars, Republic of Indonesia
  • Rasmee Wayrana, Singer and Songwriter, Kingdom of Thailand
  • Fiki Satari, Chairman, Bandung Creative City Forum (BCCF), Republic of Indonesia
  • Rahmat Ramadan, Business Development Head, ETU Restu
  • Dr Dwinita Larasati, Secretary General, Bandung Creative City Forum (BCCF), Republic of Indonesia
  • Tony Amaral, Visual Artist, Democratic Republic of Timor-Leste
  • Ayu Laksmi, Singer and Songwriter, Republic of Indonesia
  • Fauzi Yusoff, Multimedia Artist, Malaysia
  • Restog K. Kusuma, Direktur Akses Perbankan, Creative Economy Agency (BEKRAF), Republic of Indonesia
  • Wani Ardy & The Guitar Polygamy, Music Band, Malaysia
  • Marcell, Singer, Republic of Indonesia
  • Daniel Rudi Heryanto, Film Maker, Republic of Indonesia
  • Ismail Basbeth, Director and Writer, Republic of Indonesia
  • Dr Katinka van Heeren, Academic Writer, Kingdom of Netherlands
  • Eric Sasono, Film Critic, Republic of Indonesia
  • Tito Imanda, Filmmaker and Anthropologist, Republic of Indonesia
Hosted by

Strategic Partners

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Gold Sponsors

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Silver Sponsors

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Media Partners

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The 12th World Islamic Economic Forum (WIEF) with the theme, “Decentralising Growth, Empowering Future Business” was held in Jakarta on 2-4 August 2016.

The Forum was held in the wake of global economic challenges, geopolitical uncertainties, financial market turbulences and effects of climate change.

The Opening Session of the 12th WIEF was addressed by the President of Indonesia, Prime Minister of Malaysia and Patron of the WIEF Foundation, Leaders from Tajikistan, Guinea, Sri Lanka and Jordan, Special Representatives of the Governments of South Africa, Cambodia, Qatar, Pakistan, Bangladesh and Algeria, the Minister of Finance of Indonesia, the President of the Islamic Development Bank and the Chairman of the WIEF (as per Appendix).

The Forum was also attended by 4080 participants from 73 countries including 2 former Leaders, 12 Ministers, 10 Vice Ministers, leading corporate figures, businesswomen, young entrepreneurs, thought leaders, academia, representatives of the creative arts and the media.

The Forum discussed topics relevant to the expansion of the global halal ecosystem, enhancing the inclusiveness of Islamic finance, the improvement of the MSME environment, the support of startups and the development of the creative industry.

The Forum continued to promote the Islamic economy with emphasis on creativity and innovation through a variety of formats including Panel Discussions, Masterclasses, Business Exchange, Ideapad, Pitching Sessions, LinkedUp, Special Complementary Programmes, Sponsors Programmes, Country Investment Programmes, an SME Exhibition, Marketplace of Creative Arts and a Business Networking Breakfast.

The Leaders highlighted that:

  • Growing inequality continues to defy solutions for inclusive development,
  • Centralised development tends to overlook or even marginalise large sections of society in many countries,
  • The unintended consequence of innovative technology often was the enrichment of a few,
  • The potential of the young population of the developing world has not been effectively utilized,
  • The importance of enhancing media strategy to improve global perception of Islamic world investments and business potentials.

Notable recommendations for overcoming these challenges and addressing the issues of decentralisation and empowering business include the following:

  1. To promote and support an enabling environment including access to finance, for the development and corporatisation of MSMEs and co-operatives to address job creation, income generation and to unlock economic opportunities in rural communities,
  2. To harness the use of innovative training to provide youth with modern skills to enhance their economic exchange value as well as to infuse Corporate Social Responsibility (CSR) for promoting wider social benefit out of the application of innovative technology,
  3. To expand the use of Islamic Finance to grow the halal ecosystem, modest fashion industry, infrastructure development and Social Finance,
  4. To harness the use of disruptive technologies for the wider benefit of a more inclusive society,
  5. To develop strategies to enhance the potential of creative industries to spread economic growth.
    Ten agreements relating to real estate, medical facility, halal industry, franchise industry, Islamic finance and capital market amounting to USD899.6 million were exchanged during the Forum.

The Forum recorded its appreciation to H.E. President Joko Widodo and the Government of the Republic of Indonesia for hosting the 12th WIEF in Jakarta, Indonesia 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, Role Players, Secretariat and Volunteers.