The empowerment motif is played out against the backdrop of a thriving global Islamic economy. Muslims are becoming increasingly active as investors and manufacturers, bankers and traders, competitors and suppliers, while Muslim consumer spending is rising for ethical finance, investment and insurance services, and for halal food, modest fashion and halal tourism.
Key discussion topics that further the empowerment aim at the 12th WIEF include sukuk for infrastructure financing, integration of halal sectors and Islamic finance, expansion of the global halal food industry, development of the global modest fashion industry, improving funding access for MSMEs, integrating MSMEs into the digitised trade, building more equity crowdfunding platforms, spurring innovation by linking startups to corporations, and inculcating the culture of design-thinking for business. In addition, the forum will also host sessions on creative industries, Islamic travel and halal food markets.
The 12th WIEF is organised by the WIEF Foundation and hosted by the Ministry of Finance, in collaboration with the State Secretariat and Ministry of Foreign Affairs, Indonesia. Over 2,500 delegates from 69 countries are expected to participate in this year’s Forum, including seven world leaders.
About 99% of Indonesia’s businesses are SMEs, with more than 98% being micro companies. These businesses employ over 107.66 million Indonesians and contribute 60.60% to Indonesia's GDP. In order to facilitate the growth and development of SMEs in Indonesia, the government recently issued several economic policy packages to stimulate inclusive economic growth. Some of them have direct impact on the interests of SMEs, such as simplification of permits for the establishment of SMEs and export licenses, increases in SME financing, and special interest rates on export credit.