5TH WORLD ISLAMIC ECONOMIC FORUM

Approximately 1500 delegates from 35 countries have arrived in Jakarta (Ritz Carlton Pacific Place Hotel) for the 5th World Islamic Economic Forum (created to establish dialogue through business partnerships amongst Muslim entrepreneurs as well as between Muslim and non-Muslim businessmen and seeks to foster channels of communication to help address and resolve important economic issues within the Muslim and non-Muslim world). An opening ceremony by Indonesian President Susilo Bambang Yudhoyono, began the day-long Pre-Forum program of the 5th World Islamic Economic Forum which focused on two key issues imperative to the development of the Islamic business community – businesswomen and young entrepreneurs.

The three plenary sessions of the Businesswomen Forum entitled Opportunities beyond Borders, Evolving role of Women in Business, Transforming Market Challenges into Opportunities and “Growing” the next Generation of Women Entrepreneurs: Engaging Young Women & Girls in Entrepreneurship jointly raised the agenda of how best to overcome the obstacles women faced in business and highlighted the unique role women play in this capacity. The key point stressed by multiple panelists was of the multifaceted role women perform in the social, organizational and individual context. This notion was flanked by the acknowledgement that indeed, the challenges faced by women in business are the same as that of their male counterparts.

Dato’ Dr. Norraesah Mohamad, Chairwoman WIEF Business Network, commenting during the Opportunities Beyond Borders plenary session stated, “The event today gives women in business a platform to foster cooperation amongst women industrial players from all parts of the globe and build a solid understanding of their common needs not only as women but also as key decision makers in business. This Forum provides a unique opportunity for us to make business connections across borders.”

Ms. Rina Fahmi Idris, Chairwoman of IWAPI (Indonesia Women Business Association) and member of the 5th WIEF Organizing Committee, added to this, stressing the need for a working plan, stating “These sessions actually provide a medium to invite women in business to connect and thereafter establish plans to collaborate and regroup after such an event to extend more detailed information, and develop strategies to sitting together after this big event and exchange more detail information on business side answering the same global challenges faced by our counterpart.”

The Young Leaders Forum, with plenary sessions entitled The Leadership Imperative: Towards a Good Succession Plan, Employment in the 21st Century: Understanding the Global Workplace, Banking on Integrity: The prospects of Islamic Finance in a Plural Society and Plugging ideas into Business: Creating Innovative Industries broached the strategic discussion of succession planning to provide better opportunities for leadership in young entrepreneurs and the role of Islamic finance at this time of global financial crisis.

Dato’ Sri Nazir Razak, Chairman of the WIEF Young Leaders Forum said “This is a golden opportunity for the Muslim community to leverage on the growing prominence of Islamic capital and finance as a means to revitalize Muslim leadership and advance its position on the world stage”.