ECONOMY - WIEF Interested in Agriculture Industry

TEMPO Interactive, Jakarta:World Islamic Economic Forum (WIEF) head Tun Musa Hitam said that through the WIFE, Kuwait would allocate US$ 100 million to develop the agriculture industry in Indonesia. Kuwait plans to develop agricultural areas in Indonesia to meet the local demand and agricultural product exports to the Middle East. "This collaboration creates food stability for both countries," said Tun Musa Hitam in Jakarta yesterday.


The WIEF will also promote syaria funding to participating countries, a banking system that has increased in popularity following the global financial crisis three years ago. More funding institutions are applying the system, said Tun Musa. (full story)

FINANCE - Kuwait, Indonesia bound by strong ties

KUALA LUMPUR: The State of Kuwait and Indonesia are bound by strong ties in economic, cultural, and investment domains and both parties seek to further enhance the level of cooperation for the best interest of both peoples, the Kuwaiti Ambassador in Indonesia said yesterday.

Ambassador Nasser Al-Enizi was speaking following his meeting with Board Chairman of Kuwait Red Crescent Society Barjas Humoud Al-Barjas. He noted there was coordination among Kuwaiti and Indonesian parties concerning issues raised at and stances regarding these issues at international venues such as the United Nations, the Non-Aligned Movement, the Organization of the Islamic Conference, and many more.

FINANCE - KFH plans $300 mln fund, seeks Indonesian assets

By Liau Y-Sing, Reuters

KUALA LUMPUR - Islamic fund manager KFH Asset Management will launch a $300 million fund to invest in consumer, healthcare and education businesses by end 20120, its private equity head said on Monday.

KFH Asset Management, a subsidiary of the Malaysian unit of Kuwait Finance House , would raise money from Gulf investors for the fund which would also invest in waste management and light manufacturing companies, Lew Oon Yew said.