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RFI Foundation signs MOU to support responsible finance growth in Indonesia

By RFI Foundation | 19-Nov-2019

Jakarta, Indonesia, 19 November 2019 – Recognizing the immense potential for growth of sustainable and Islamic finance in Indonesia under the recently announced Sharia Economy Masterplan and Indonesia Halal Economy and Strategy Roadmap 2018/19, the RFI Foundation and Indonesia Halal Lifestyle Center (IHLC) signed a Memorandum of Understanding (MOU) that will pave the way for future collaboration.  The MOU was signed at the start of the INHALIFE 2019 conference hosted by Bank Indonesia in Jakarta on 13 November between RFI CEO Blake Goud and IHLC Chairman Dr. H. Sapta Nirwandar. 

Under the MOU, RFI and IHLC will identify opportunities for collaboration that can whelp encourage the development of Islamic finance in Indonesia and incorporation of responsible finance principles through environmental, social and governance (ESG) integration.  Wider adoption of responsible finance can help Indonesia solidify its position in the global Islamic finance market where it currently sits at fifth according to the State of the Global Islamic Economy Report 2019/20.

Blake Goud, CEO of the RFI Foundation, said: “We were pleased to take part in a regional roundtable with IHLC in September, and we were impressed with the integrated focus being adopted in relation to Islamic finance.  Through this collaboration, we believe that our deep expertise in responsible finance can support Indonesia’s sharia banking sector to gain wider adoption of Islamic finance and a closer alignment to the Sustainable Development Goals (SDGs).”

Dr. H. Sapta Nirwandar, Chairman of IHLC, said: “Finance is a critical element of the Islamic economy development in Indonesia.  We look forward to working with the RFI Foundation to find areas for collaboration that will support Indonesia’s Islamic economy ambitions and encourage sustainable development. By collaborating with the RFI Foundation, we believe it will enable Indonesia’s sharia banking sector to play a supportive role in this development.”

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