Business Matching at ISEF 2019 reaches Rp22.63 trillion - Bank Sentral Republik Indonesia
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December 10, 2019

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The Indonesia Sharia Economic Festival (ISEF) 2019 facilitated business matching and deals totalling Rp22.63 trillion from 12-16th November 2019 at the Jakarta Convention Centre, which brought together 30 buyers, 163 sellers and 273 exhibition participants. The latest accomplishments pave the way for Indonesia to achieve its vision of becoming a global reference centre for the Islamic economy. That was the key message delivered by BI Deputy Governor Sugeng at the ISEF 2019 closing ceremony held on Saturday (16/11).

In total, 31 business commitments were secured worth Rp22.50 trillion between Islamic boarding schools (pesantren) and MSMEs as well as domestic and global corporations and the banking industry. Most commitments targeted the financial sector, to the tune of Rp11.27 trillion, followed by infrastructure totalling Rp10.68 trillion. Business matching alone reached 161 transactions and a total value of Rp149.30 billion, dominated by food and beverages as well as agriculture.

In addition to business matching, ISEF 2019 also recorded a number of other salient achievements. In terms of Islamic finance, Islamic social Finance through a waqf auction raised Rp2.95 billion. Total sales revenue from the halal products exhibited during ISEF 2019, consisting of halal food, beverages, tourism and fashion, topped Rp29.80 billion. Furthermore, ISEF 2019 was also a showcase for halal fashion industry development in Indonesia, with 78 Muslim designers from Indonesia appearing at the Sustainable and Ethical Fashion Show. ISEF 2019 also piqued public interest to expand their literacy concerning Islamic economics through various forums and international studies. In addition, the 5th International Islamic Monetary Economics and Finance Conference (IIMEFC) 2019 received 250 papers submitted by 510 authors from 25 different countries. This activity has contributed to advance the development of the Islamic economy and Finance in Indonesia through the development of a research and education ecosystem for the Islamic economy and finance.

ISEF 2019 also provided more meaning and gravitas to Islamic economic development in Indonesia. First, international branding because ISEF 2019 is now a regular fixture of the global Islamic economic agenda. Second, a platform to facilitate domestic and international meetings and agreements because ISEF 2019 produced the Jakarta Declaration for the Establishment of National Pesantren Holding Businesses, international MSME branding, meetings and commitments between designers as well as national infaq and waqf movements. Third, strategic integrator because ISEF 2019 is a strategic gathering for various business players, including Islamic boarding schools, MSMEs as well as domestic and international corporates. Fourth, increase literacy and knowledge concerning the Islamic economy because ISEF 2019 is a prominent forum known domestically and internationally.

ISEF 2019 demonstrated the current wave of global attention by attracting 45 countries to 27 national and international forums, including the 14th Islamic Financial Services Board (IFSB) Summit and OIC International Forum for Islamic Social Finance, which itself attracted 5,145 participants. This year, around 40,000 people visited ISEF 2019.

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