2 September 2026
The Islamic Bank of Thailand (ibank), led by Dr. Thaweelap Rittapirom, Director and President, together with the Bank’s executives, met with H.E. Mr. Hari Prabowo, Ambassador of the Republic of Indonesia to the Kingdom of Thailand, at the Embassy of the Republic of Indonesia in Thailand on August 18, 2026, to exchange views on opportunities to further cooperation in Islamic finance, the Halal economy, and business connectivity between Thailand and Indonesia. On this occasion, ibank also extended an invitation to the Ambassador and delegates from Indonesia to participate in ibank’s Affiliated Program during The 2026 Annual Meetings of the International Monetary Fund and the World Bank Group, to be hosted by Thailand this October.
During the meeting, both parties exchanged perspectives on the development of Islamic finance in Indonesia, particularly the use of Sukuk , Shariah-compliant financial instruments that serve as an instrument for mobilising capital and facilitating investment from markets with strong potential and growing interest in Islamic finance . They also discussed opportunities for Thailand to benefit from Indonesia’s experience and expertise as one of the region’s significant Islamic finance and Halal economy ecosystems, with a view to promoting knowledge exchange and creating new economic opportunities.
Another key area of discussion was the Halal Economy and its potential to strengthen trade and investment linkages between Thailand and Indonesia, particularly by expanding opportunities for Thai Halal products and services in international markets. Dr. Thaweelap highlighted ibank’s role in supporting Thailand’s Halal ecosystem, including its collaboration with the The Central Islamic Council of Thailand (CICOT) to support and enhance the capabilities of entrepreneurs. At the same time, ibank also seeks to encourage businesses that are interested in entering the Halal market but are still at an early stage or in the process of preparing for it, by supporting the development of products, services, and business activities that cater to the Muslim-friendly Market. This provides entrepreneurs with an opportunity to reach a broader Muslim consumer base and further develop their potential in the growing Halal economy.
The discussion also reflected the broader momentum in economic relations between Thailand and Indonesia, particularly business connectivity through Business Forums and cooperation among businesses from both countries. These developments demonstrate opportunities to build on areas where Thailand and Indonesia possess complementary strengths, particularly in Halal food and products, trade, investment and related services.
Dr. Thaweelap also shared perspectives on the importance of preparing Thai businesses and the country’s Hhalal ecosystem to capture opportunities arising from the arrival of international delegates in Thailand during the 2026 Annual Meetings of the IMF and–the World Bank Group. This includes showcasing the potential of Thailand’s Halal products and services, strengthening Muslim-friendly offerings, and building networks that can connect Thai entrepreneurs with international investors and business partners, with the potential to develop into future trade and investment opportunities.
The meeting also formed part of ibank’s preparations for its Affiliated Program, entitled “Islamic Finance: From Crisis Resilience to Transition Finance,” to be held on October 14, 2026 in Bangkok. The program is intended to provide a platform for exchanging perspectives on the role of Islamic finance in strengthening economic resilience and supporting the transition towards sustainable development, drawing on knowledge and experience from countries with significant Islamic finance capabilities across ASEAN, the Middle East and other regions.
Dr. Thaweelap said, “Indonesia has extensive experience and strong capabilities in both Islamic finance and the Halal economy, while Thailand has considerable potential in Halal products and services that can be further developed. This meeting provided a valuable opportunity to exchange perspectives and experiences on how the strengths of both countries can be leveraged to create greater opportunities in finance, trade and investment. We hope that the platform in October will provide another important opportunity to broaden perspectives, build connections and pave the way for more tangible cooperation in the future.”
The meeting reflects ibank’s commitment to supporting greater connectivity between Islamic finance, the Halal economy and international networks, with the aim of expanding opportunities for Thai entrepreneurs and contributing to the development of Thailand’s Halal ecosystem and its stronger integration with international markets and networks.
