REPUBLIKA.CO.ID, JAKARTA -- The Islamic Development Bank Group (IDBG), represented by the President, Ahmad Mohamed Ali, and Indonesian Chamber of Commerce (Kadin), represented by the Chairman, Rosan Roeslani recently signed a Memorandum of Understanding (MoU) in Jakarta during the IDBG 41st Annual Meeting.

The MoU covers areas of common interest between both parties including facilitation of training programs and capacity building initiatives between Kadin and Chambers of Commerce of member countries as well as Kadin and member companies of the Chambers of Commerce of member countries to share best practices under the spirit of Reverse Linkages (South-South Cooperation), and organization of joint conferences, seminars or workshops related to investment, infrastructure, Islamic Finance and other relevant issues in order to facilitate knowledge sharing and B2B opportunities and networking.

According a press release received by Republia.co.id, this is in addition to coordination in the areas of trade promotion and access facilitation to members and companies of the Chambers of Commerce of IDBG member countries and cooperation between Kadin and IDBG Private Sector entities such as ICD, ICIEC and ITFC to promote each institutions’ financing solutions to the Kadin members.

“We are optimist that Islamic finance and banking will grow significantly considering their potentials. IDB and Kadin have agreed to conduct further campaign to the business community as well as public so that they are aware and understand Islamic finance and banking products and services,” Chairman of Kadin, Rosan Roeslani, said, in a discussion focusing on the follow-up of the MoU recently.

Campaign only was not enough to make Islamic finance grow, capacity building and access to Islamic finance facilities were also essential in the development of Islamic finance, said Rosan Roeslani. “We are glad that the IDB will also provide access to financing through its private arm subsidiaries. The development of the industrial sector will increase the economic growth of the country, creating more funds for education and health sectors,” he added.

IDBG Country Gateway Office (CGO) Indonesia Resident Representative, Ibrahim Shoukry, said, ”IDB CGO Indonesia is highly committed to support the implementation of the MoU since it is aligned with the IDBG Member Country Partnership Strategy (MCPS) for Indonesia for the period 2016-2020 under the theme “supporting smart, high and inclusive growth”. Private sector development is one of the strategy pillar for our strategy in Indonesia to provide sustainable Islamic Development Bank Group Country Gateway Office Indonesia support for economic and social infrastructure in order to reduce regional disparities.”

He also added that IDBG would be happy to facilitate cooperation between Kadin and Chambers of Commerce in IDBG member countries in order to share best practices and enhance investment and trade between the IDBG member countries.

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