"INDONESIA - Access to Islamic Finance for SMEs" - WORLD BANK RFP

The WORLD BANK has recently issued a Request for Proposal (RFP), titled:-

" INDONESIA - Access to Islamic Finance for SMEs "

( Project Code TF 093571 #8038 )

6 organisations/firms have been short-listed to prepare the RFP. They are:-

1. Deloitte Consulting Malaysia Sdn Bhd ( MALAYSIA )
2. e.Gen Consultants Ltd. ( BANGLADESH )
3. Frankfurt School of Finance & Management ( GERMANY )
4. NORC
5. PLaNet Finance ( FRANCE )
6. P.T. Ernst & Young Advisory Services ( INDONESIA )

Considering the West's animosity towards Islam and anything-related to Islam, the RFP is certainly an interesting development.

The Author is of the view that the World Bank's RFP initiative highlights the emergence and importance of both:-

• INDONESIA
  ~ as an attractive Investment destination. Based on available data at the ASEAN Secretariat(ASEC) and Economic Research Institute for ASEAN & East Asia(ERIA)...both located in Jakarta, Indonesia is one of the few ASEAN countries that is expected to chart positive economic growth in 2009.
  Note: Author was an Intern at The ASEAN Secretariat in 2009 and visited ERIA in July 2009 ( refer ERIA Blog Post on 2 July 2009)



• ISLAMIC FINANCE (IF)
  ~ as a preferred source of financing. It is highly probable that the World Bank have taken cognisance of the fact that IF have remained largely intact and unscatched in the present economic downturn, unlike its conventional banking and finance cousins who's taken a terrible beating!
  
  

Note:
via an e-mail dated 22nd August 2009,
Blog Author received an invitation to participate in this RFP by one of the 6 firms shortlisted by the World Bank.