Jakarta Declaration Offers Potential Solutions for Global Ills


Mar  3rd

WIEF to collaborate efforts to connect businesses in the Muslim world
Jakarta Declaration Offers Potential Solutions for Global Ills
5th World Islamic Economic Forum Examines Food, Energy and Financial Crisis
Jakarta, 3 March 2009 –– After two days of sharing issues and possible resolutions, delegates of the 5th World Islamic Economic Forum endorsed and adopted the key findings of the Jakarta Declaration.

Tun Musa Hitam, Chairman of the World Islamic Economic Forum Foundation, said “This year’s forum is full of many ideas and solutions that came from a host of countries. We are grateful for the brain trust that came to Jakarta to share their views as well as problems for the entire forum to consider and offer their home grown solutions. The declaration has a host of policy recommendations that, if implemented widely, would enact real change within the Muslim and non-Muslim world.”

The Jakarta Declaration among other things recommended delegate countries to reduce regulatory barriers such as food subsidies, which would hinder sustainable food production and trade; develop policies to ensure a proper balance between food production for human consumption and energy usage; support energy conservation and carbon emission reduction programs; reinforce efforts for research and development of non-carbon fuels and other alternative energy sources; call for effective regulations in the global financial industry to mitigate risk and failure; and support the establishment of Islamic Banking training centers with harmonized standards in order to expand shariah compliant finance instruments such as micro-credits.
“The Jakarta Declaration is a call to action that addresses the various issues affecting nations globally,” said Sofyan Djalil, Co-Chairman for the 5th WIEF Organizing Committee and Indonesian Minister of State Owned Enterprises. “Governments, corporations and individuals can use this as a road map to not only help out their local communities, but also affect real change within their districts, countries and regions as other people and organizations join in. WIEF is an inclusive organization for both Muslim and non-Muslim business communities around the world, so we continue to utilize business as a powerful means of achieving co-operation at all levels.”
The three major topics of discussion touched by the 1557 delegates from 38 countries included “Overcoming the Global Food Crisis”, “Creating a Future for Alternative Energy”, as well as “Stemming the Tide of the Global Financial Crisis.” The delegates included corporate leaders from 87 global companies as well as various governmental and non-governmental organizations. In addition, the forum saw over US$ 3 billion worth of Memorandum of Agreements signed on the first day, which was facilitated through the WIEF network.
The Jakarta Declaration also addressed the pre-forum topics of the WIEF Businesswomen Network (WBN) and the WIEF Young Leaders Network (WYN), by recommending the continuation of the “Training Program for Women Entrepreneurs” under the WIEF-UiTM International Center, the continuation of Nurses Training Program and the Midwife Training Program serve as a platform for entrepreneurship development in rural areas as well as the expansion of the WYN Scholarship, Mentorship and Internship programs to assist young leaders to grow into entrepreneurship positions.
Created to establish dialogue through business partnerships amongst Muslim entrepreneurs as well as between Muslim and non-Muslim businessmen, the World Islamic Economic Forum seeks to foster channels of communication to help address and resolve important non-business matters within the Muslim and non-Muslim world.
The next World Islamic Economic Forum will be held in Kuala Lumpur, Malaysia on 18-20 May 2010.
For further information, please contact:

Ms. Mahua Mitra
Ogilvy Public Relations Worldwide/Jakarta
P. +62…
F. +62 21 526 6264
E. mahua.mitra@ogilvy.com
Ms. Eswari Kalugasalam
World Islamic Economic Forum Foundation
P. +6…
F: +603 2145 5504
E. eswari@wief.org