www.thejakartaglobe.com - Bank Mandiri, the country’s largest lender by assets, is considering an
initial public offering next year for its Islamic unit, Bank Syariah
Mandiri, a top executive has said. Sunarso, a commercial
director of Bank Mandiri, said on Thursday that the preparations for the
offering were under way and the IPO was likely for next year. “The preparations for the share sale
Sabtu, 25 Agustus 2012
Rabu, 22 Agustus 2012
INDONESIA - ARTICLES - Utilization of Zakat as a Fiscal Component in Islamic Economic System
Maksimalisasi Zakat Sebagai Salah Satu Komponen Fiskal Dalam Sistem Ekonomi Islam (Utilization of Zakat as a Fiscal Component in Islamic Economic System)
Azharsyah Ibrahim
State University of Ar-Raniry - Faculty of Law - Ar-Raniry State Institute of Islamic Studies
May 22, 2012
JURISPRUDENSI Jurnal Syari'ah, Januari-Juni 2011
Abstract:
In economics, fiscal policy is
INDONESIA - CAPITAL MARKETS - Limit of Project Sukuk SBSN set at Rp 1,0 trillion
www.bisnis.com - JAKARTA: The government sets a limit on issuance of Islamic Countries (SBSN) for project financing in 2013 amounted to R1, 0 billion. Financial Notes and Draft Budget 2013, the government will seek to accelerate impementasi sukuk issuance to finance the project. "For fiscal year 2013, the government set a maximum issuance SBSN Project Rp1, 0 trillion. SBSN issuance limit is
INDONESIA - MULTI FINANCE - Adira Dynamics boosts Syariah performance
www.bisnis.com - JAKARTA:
PT Adira Dinamika Multi Finance Tbk will boost the performance of
sharia units with a target can contribute up to 15% of the total
business in the next 2-3 years. Willy
Dharma Kelvin, President Director of Adira Dinamika Multi Finance
(Adira Finance) said that Islamic finance is huge potential in
Indonesia, because it has the largest Muslim population in the world.
PT Adira Dinamika Multi Finance Tbk will boost the performance of
sharia units with a target can contribute up to 15% of the total
business in the next 2-3 years. Willy
Dharma Kelvin, President Director of Adira Dinamika Multi Finance
(Adira Finance) said that Islamic finance is huge potential in
Indonesia, because it has the largest Muslim population in the world.
Minggu, 19 Agustus 2012
INDONESIA - BANKING - BI to Apply Minimum Down Payment Regulation to Islamic Banks
www.bisnis.com - JAKARTA: After a minimum down payment credit policy applied to
conventional banks and multifinance since mid-June, Bank Indonesia will
ensure to apply similar regulation to Islamic banking.
Bank Indonesia (BI) Islamic Banking Department Executive Director Edy
Setiadi said the preparation of minimum down payment regulation for
Islamic Bank needs more time because this type
conventional banks and multifinance since mid-June, Bank Indonesia will
ensure to apply similar regulation to Islamic banking.
Bank Indonesia (BI) Islamic Banking Department Executive Director Edy
Setiadi said the preparation of minimum down payment regulation for
Islamic Bank needs more time because this type
INDONESIA - BANKING - BRI Syariah Yogyakarta pedal boot Third Party Funds
www.bisnis.com - SEMARANG: PT Bank Rakyat Indonesia (BRI) Sharia Yogyakarta branch of third-party fund-raising boost by lowering intermediation ratio is relatively high. Halomoan Marpaung, BRI Syariah Yogyakarta Branch, said one of his side during the concentration task this year is to reduce the ratio of intermediation (financing to deposit ratio / FDR), which has penetrated 123.3% at the end of
INDONESIA - BANKING - BRI Syariah Yogyakarta Prepare ATM Shuttle Service Fund
www.bisnis.com - SEMARANG: PT Bank Rakyat Indonesia Yogyakarta Branch Sharia fund operates shuttle service (pick up service) during Ramadhan break to ease customer deposit funds into the bank. Halomoan Marpaung, BRI Syariah Yogyakarta Branch, explaining the fund shuttle services performed by the Branch Office (KCP) Bantul. "This service is provided to adjust the prime customer transactions at the
INDONESIA - REGULATIONS - BI: Bank Syariah Not Treated Special
www.bisnis.com - JAKARTA: Bank Indonesia said it was reviewing the amount of loan to value for the rule of Islamic banking. Governor of Bank Indonesia (BI) Nasution said the provisions of loan to value (LTV) sharia should not be treated differently from the conventional banking regulations. "Yes, it should be one of the main reasons it is actually that there be no arbitrage, do not then there is
INDONESIA - CAPITAL MARKETS - Indonesia to Sell More Bonds Next Year to Plug Deficit
www.thejakartaglobe.com - Indonesia, which has been running a budget deficit since the Asian
monetary crisis more than a decade ago, plans to sell 11 percent more
bonds next year to finance its budget shortfall. The government
plans to raise total net bond sales to Rp 177.3 trillion ($19 billion)
next year compared with Rp 159.6 trillion this year, with the country
aiming to sell more notes
monetary crisis more than a decade ago, plans to sell 11 percent more
bonds next year to finance its budget shortfall. The government
plans to raise total net bond sales to Rp 177.3 trillion ($19 billion)
next year compared with Rp 159.6 trillion this year, with the country
aiming to sell more notes
INDONESIA - FOREIGN - Affin up on Bank Muamalat Malaysia stake buy talks
www.btimes.com.my -KUALA LUMPUR: Affin Holdings Bhd, Malaysia’s smallest banking group by
market value, rallied the most in a month after obtaining central bank
approval to start talks to buy a stake in the country’s second-oldest
Islamic bank.
The stock advanced as much as 2.3 per cent in Kuala
Lumpur trading to RM3.56. It pared gains to RM3.54 at 11:50am, poised
for its steepest increase
market value, rallied the most in a month after obtaining central bank
approval to start talks to buy a stake in the country’s second-oldest
Islamic bank.
The stock advanced as much as 2.3 per cent in Kuala
Lumpur trading to RM3.56. It pared gains to RM3.54 at 11:50am, poised
for its steepest increase
Selasa, 14 Agustus 2012
INDONESIA - BANKING - Distributes Funding BSM Rp39, 93 trillion
www.investor.co.id - JAKARTA-Bank
Syariah Mandiri (BSM) financing channel for Rp39, 93 trillion by the
end of June 2012, up 32.85 percent over the same period in 2011
amounting to Rp30, 06 trillion."Financing
is a source of income for margins and results of the largest profit
contributor," said Managing Director of BSM Yuslam Fauzi current events
and breaking fast gathering together in
Syariah Mandiri (BSM) financing channel for Rp39, 93 trillion by the
end of June 2012, up 32.85 percent over the same period in 2011
amounting to Rp30, 06 trillion."Financing
is a source of income for margins and results of the largest profit
contributor," said Managing Director of BSM Yuslam Fauzi current events
and breaking fast gathering together in
INDONESIA - BANKING - Syariah Mandiri Bank Profit Up 47%
www.investor.co.id - JAKARTA
- PT Bank Syariah Mandiri (BSM) recorded a net profit of Rp 396.84
billion in the first half of 2012, growing 47% over the same period last
year valued at Rp 270 billion. Margin and revenue sharing to be the largest contributor to the increase in net income.Director
of Finance BSM Fanani Zainal said the revenue and margin for the BSM at
the end of June 2012
- PT Bank Syariah Mandiri (BSM) recorded a net profit of Rp 396.84
billion in the first half of 2012, growing 47% over the same period last
year valued at Rp 270 billion. Margin and revenue sharing to be the largest contributor to the increase in net income.Director
of Finance BSM Fanani Zainal said the revenue and margin for the BSM at
the end of June 2012
INDONESIA - REGULATONS - BANK INDONESIA to issue new loan to value ratio for Islamic Banks
www.bisnis.com - JAKARTA: Bank Indonesia will release a regulation to limit ratio of
credit value that bank can be provided to maximum collateral. The
regulation will be imposed to Islamic Banking industry as part of
microprudential policy.
Loan to value ratio might be applicable this year, said Executive
Director of Bank Indonesia's Islamic Banking Department Edy Setiadi.
"Since the
credit value that bank can be provided to maximum collateral. The
regulation will be imposed to Islamic Banking industry as part of
microprudential policy.
Loan to value ratio might be applicable this year, said Executive
Director of Bank Indonesia's Islamic Banking Department Edy Setiadi.
"Since the
Senin, 13 Agustus 2012
INDONESIA - CAPITAL MARKETS - Dana Haji Sign Sukuk, Islamic Banking sluggish
www.bisnis.com - JAKARTA
- Bank Indonesia (BI) recorded growth of Islamic banking industry in
the first half of 2012 tend to be slower than growth at the end of
December 2012. The transfer of Sukuk to fund the pilgrimage to one of the trigger."The performance of Islamic banking is based on the record is still growing very little. I
see the industry to agree on this, "said Executive Director
- Bank Indonesia (BI) recorded growth of Islamic banking industry in
the first half of 2012 tend to be slower than growth at the end of
December 2012. The transfer of Sukuk to fund the pilgrimage to one of the trigger."The performance of Islamic banking is based on the record is still growing very little. I
see the industry to agree on this, "said Executive Director
INDONESIA - BANKING - Shariah Included in Indonesian Bank Rule
www.thejakartaglobe.com - The country’s central bank will soon issue a regulation requiring
Shariah banks to toughen down payments on housing and automotive loans, a
deputy governor said on Sunday.
The requirement will be similar
to the implementation of the loan-to-value level applied to
conventional lenders for housing and vehicle loans issued on March 15
and took effect on June 15.
Shariah banks to toughen down payments on housing and automotive loans, a
deputy governor said on Sunday.
The requirement will be similar
to the implementation of the loan-to-value level applied to
conventional lenders for housing and vehicle loans issued on March 15
and took effect on June 15.
INDONESIA - BANKING - Foreign Banks Facing Paid-Up Capital Rule From Indonesian Government
www.thejakartaglobe.com -The central bank plans to impose a regulation on
foreign lenders operating branch offices here that will require them to
meet a similar minimum paid-up capital sum that locally incorporated
lenders must pay.
Indonesia allows foreign lenders to operate
branch offices here without establishing a locally incorporated company,
a policy often criticized by local
foreign lenders operating branch offices here that will require them to
meet a similar minimum paid-up capital sum that locally incorporated
lenders must pay.
Indonesia allows foreign lenders to operate
branch offices here without establishing a locally incorporated company,
a policy often criticized by local
Minggu, 12 Agustus 2012
WORLD - REPORTS - Ernst Young World Competitiveness Report 2011
Announcing
the Exclusive Launch of the Ernst & Young World Islamic Banking
Competitiveness Report 2012/13 at the 19th Annual World Islamic Banking
Conference (WIBC 2012)
Islamic Finance: Adapting to the New Dynamics of Global Finance
1200+ Industry Leaders. 50+ Countries. 1 Global Gathering: WIBC 2012
For 19 Years the World's
SINGAPORE - FINANCE - Sabana Reit to buy Serangoon North property for $61m
www.businesstimes.com.sg -Sabana Shari'ah Compliant Industrial Real Estate Investment
Trust plans to acquire a Serangoon North Ave 5 property for $61 million.
Its manager, Sabana Real Estate Investment Management Pte Ltd, said
on Wednesday that its trustee, HSBC Institutional Trust Services
(Singapore) Limited, has entered into a sale and purchase agreement with
Ban Teck Han Enterprise Co
Trust plans to acquire a Serangoon North Ave 5 property for $61 million.
Its manager, Sabana Real Estate Investment Management Pte Ltd, said
on Wednesday that its trustee, HSBC Institutional Trust Services
(Singapore) Limited, has entered into a sale and purchase agreement with
Ban Teck Han Enterprise Co
INDONESIA - BANKING - Gold Pawn Islamic banks still shining
www.kontan.co.id - JAKARTA. After a three-month slide, gold pawn restriction rules taking effect for the Islamic banking industry. Bank with a portfolio of gold pawn is too high, posting a decline in financing during the first half of 2012. Meanwhile, a new Islamic bank in business, enjoying a fantastic surge in financing nan.BRI Syariah, BNI Syariah, and Bank Syariah Mandiri, including a
INDONESIA - CAPITAL MARKETS - Small issuance, new regulations
www.ibpa.co.id - JAKARTA. Aka Islamic sukuk issuance in 2012 also continued to grow. Citing data from the Capital Market and Financial Institutions Supervisory Agency (Bapepam LK), sukuk issued until late July, a total of 52 products, with a value of Rp 9.39 trillion emissions. A total of 37 new products were classified as ijara sukuk. While the rest is kind of mudaraba sukuk. Etty Retno
INDONESIA - BANKING - ISLAMIC BUKOPIN: cash management services strengthened
www.bisnis.com - JAKARTA: PT Bank Syariah Bukopin will strengthen fund management services or cash management by targeting the addition of 10 partner companies, to develop third-party funds and commission-based income. Riyanto, Managing Director of Bank Syariah Bukopin (BSB), said the company does not target too many in the development of cash management services because it takes time for their
INDONESIA - BANKING - BNI Syariah Involve dish 10 000 Customer Feedback Orphan
www.bisnis.com - JAKARTA, PT Bank Negara Indonesia Sharia provide iftar mealsfor 10,000 orphans and the orphans through the Share Open Hasanah."Sharing Program Open Hasanah involve customers. By
opening a savings or top up Hasanah iB iB Savings Tapenas then to give
my customers a meal break for orphans and duafa, "said Imam T. Saptono,
Business Director of Islamic Bank Negara Indonesia (BNI
opening a savings or top up Hasanah iB iB Savings Tapenas then to give
my customers a meal break for orphans and duafa, "said Imam T. Saptono,
Business Director of Islamic Bank Negara Indonesia (BNI
INDONESIA - BANKING - Bank Syariah Mandiri ready for IPO in 2014
www.kontan.co.id - JAKARTA. PT Bank Syariah Mandiri (BSM) is ready to take the floor at the Indonesia Stock Exchange (BEI). Managing Director of BSM Yuslam Fauzi said, the release of BSM is reviewing options IPO (IPO) in 2014. "Everything is in the process," he said when met at the Bapepam-LK, Thursday (9/8). He said the IPO scheme is the domain of the majority shareholder of PT Bank Mandiri
INDONESIA - BANKING - BRI Syariah focus on small economy
www.investor.co.id - JAKARTA-Bank intends to encourage BRISyariah lower middle-class economy with a range of services according to customers' needs."We want to always lift the economy down people by supporting their efforts in order to grow," said Director of PT. Bank BRISyariah Moch. Hadi Santoso, BRISyariah Headquarters, Jakarta, Thursday (9/8).Hadi explained that it had teamed up to deliver
INDONESIA - BANKING - Post the Syariah Bukopin Asset Rp3, 16 Trillion
www.investor.co.id - JAKARTA-Islamic
Bank Bukopin (BSB) had total assets amounting to Rp3, 16 trillion per
semester of 2012, up 41.66% over the same period of 2011 amounting to
Rp2, 23 trillion."We
are in stable condition and was supported at all on the performance of
the banking system. Kededapannya we expect will continue to grow," said
Director of BSB Riyanto now open along here on
Bank Bukopin (BSB) had total assets amounting to Rp3, 16 trillion per
semester of 2012, up 41.66% over the same period of 2011 amounting to
Rp2, 23 trillion."We
are in stable condition and was supported at all on the performance of
the banking system. Kededapannya we expect will continue to grow," said
Director of BSB Riyanto now open along here on
INDONESIA - CAPITAL MARKETS - Indonesia to Sell $1.75 Billion in Yen and US Dollar Sukuk
www.thejakartaglobe.com - Indonesia plans to raise the equivalent of almost $2 billion in combined
yen- and dollar-denominated Islamic bonds later this year as part of
its efforts to plug a widening budget deficit. Southeast Asia’s
largest economy plans sell $750 million of so-called samurai bonds and
$1 billion of US-currency bonds, both of them sukuk, in October. “The
figures and timing
yen- and dollar-denominated Islamic bonds later this year as part of
its efforts to plug a widening budget deficit. Southeast Asia’s
largest economy plans sell $750 million of so-called samurai bonds and
$1 billion of US-currency bonds, both of them sukuk, in October. “The
figures and timing
Kamis, 09 Agustus 2012
INDONESIA - REGULATIONS - OJK Shariah Committee at the level of Commissioners
WWW.REPUBLIKA.CO.ID, JAKARTA - The Committee to integrate Islamic sharia units in each commissioner shall be at the same level with the commissioner. It is intended that sharia be the same priority as other conventional financial institutions. Deputy Treasurer of the Indonesian Ulema Council (MUI), Nadratuzzaman Hosen, said although sharia is not mentioned in the OJK law, this system still can
INDONESIA - BANKING - BSM motor vehicle financing stagnant
www.bisnis.com - JAKARTA: PT Bank Syariah Mandiri not experience an increase in the distribution of syariah-based financing of motor vehicles to the company's multi-since last June. Director of Microfinance & Small Hanawijaya BSM said before the company can provide financing facilities to multi-Islamic berskema conventional, both of which have a business unit of sharia (UUS) and do not have UUS.
INDONESIA - BANKING - Sharia will PermataBank Fund in Car Segment
www.investor.co.id - JAKARTA-Islamic
PermataBank will do the financing on four-wheeled motor vehicle segment
starting second semester of 2012 because it saw an opportunity in that
segment."So
far we have only done two-wheeler financing. Perhaps this second half
we got into a four-wheel because we see there are opportunities there,"
said Chief Syariah PermataBank, Ahmad K Permana in Jakarta,
PermataBank will do the financing on four-wheeled motor vehicle segment
starting second semester of 2012 because it saw an opportunity in that
segment."So
far we have only done two-wheeler financing. Perhaps this second half
we got into a four-wheel because we see there are opportunities there,"
said Chief Syariah PermataBank, Ahmad K Permana in Jakarta,
INDONESIA - BANKING - Post the Shariah Asset PermataBank Rp7, 65 Trillion
www.investor.co.id - JAKARTA-Islamic
PermataBank had total assets of Rp 7, 65 trillion in the first half of
2012, up 146% over the same period of 2011 amounting to Rp3, 16
trillion."The
growth of these assets PermataBank cements our position as a business
unit of Islamic Sharia in the Islamic banking industry of Indonesia
during the first semester of 2012," said Chief Syariah PermataBank
PermataBank had total assets of Rp 7, 65 trillion in the first half of
2012, up 146% over the same period of 2011 amounting to Rp3, 16
trillion."The
growth of these assets PermataBank cements our position as a business
unit of Islamic Sharia in the Islamic banking industry of Indonesia
during the first semester of 2012," said Chief Syariah PermataBank
INDONESIA - BANKING - Islamic Finance Industry Need Government Support
www.investor.co.id - JAKARTA - Indonesia's Islamic financial industry can go fast if it gets government support. With
its potential, the Islamic financial industry in the country can shift
the Islamic industry in Iran, Malaysia and other countries in the Middle
East. Until the first half of 2012, total assets of Islamic financial industry nationwide reach Rp 285 trillion.This
is expressed by
its potential, the Islamic financial industry in the country can shift
the Islamic industry in Iran, Malaysia and other countries in the Middle
East. Until the first half of 2012, total assets of Islamic financial industry nationwide reach Rp 285 trillion.This
is expressed by
INDONESIA - AWARDS - INVESTOR magazinegive Institutions & Products Awards Best Syariah 2012
www.investor.co.id - JAKARTA-Investor
magazine again awarded best Islamic or Sharia Best Awards 2012 for best
Islamic financial institution 10, 11 Islamic financial products and the
best three Islamic leaders. At
the awarding ceremony of Sharia Investor Award 2012 in the Ballroom,
Hotel Aryaduta, Jakarta, Wednesday (8/8), PT Bank Syariah Mandiri (BSM)
was crowned the best Islamic bank in
magazine again awarded best Islamic or Sharia Best Awards 2012 for best
Islamic financial institution 10, 11 Islamic financial products and the
best three Islamic leaders. At
the awarding ceremony of Sharia Investor Award 2012 in the Ballroom,
Hotel Aryaduta, Jakarta, Wednesday (8/8), PT Bank Syariah Mandiri (BSM)
was crowned the best Islamic bank in
Rabu, 08 Agustus 2012
INDONESIA - BANKING - Sharia PermataBank Post the assets of Rp 7.65 trillion
www.investor.co.id - JAKARTA
- Islamic PermataBank had total assets of Rp 7.65 trillion in the first
half of 2012, up 146 percent over the same period in 2011 amounting to
Rp 3.16 trillion."The
growth of these assets PermataBank cements our position as a business
unit of Islamic Sharia in the Islamic banking industry of Indonesia in
the first half of 2012," said Chief Syariah PermataBank
- Islamic PermataBank had total assets of Rp 7.65 trillion in the first
half of 2012, up 146 percent over the same period in 2011 amounting to
Rp 3.16 trillion."The
growth of these assets PermataBank cements our position as a business
unit of Islamic Sharia in the Islamic banking industry of Indonesia in
the first half of 2012," said Chief Syariah PermataBank
INDONESIA - CAPITAL MARKETS - State Government Selling Rp540 Billion Sukuk
www.investor.co.id - JAKARTA - The government sold the state sukuk amounting to Rp540 billion to meet part of the 2012 state budget targets. The amount is greater than the indicative target of Rp500 billion in the previous set.A
press release Directorate General of Debt Management, Ministry of
Finance on Wednesday said the country's sukuk sale by auction on Tuesday
(7/8) in which the bids of
press release Directorate General of Debt Management, Ministry of
Finance on Wednesday said the country's sukuk sale by auction on Tuesday
(7/8) in which the bids of
INDONESIA - CAPITAL MARKETS - Result auction August 7, 2012
www.bi.go.id - On this day, Tuesday, August 7, 2012, has conducted auctions State Sharia Securities (SBSN) or State Sukuk series SPN-S 08,022,013 (new issuance), PBS001 (reopening), PBS002 (reopening), PBS003 (reopening), and PBS004 (reopening) through the auction of Bank Indonesia. In accordance with the authority granted by Law No. 19 Year 2008 on State Sharia Securities, then the auction
INDONESIA - FINANCE - DP hit, move to sharia financing FIF
www.kontan.co.id - JAKARTA. PT
Federal International Finance (FIF) is planning to increase the share
of contribution of Islamic finance in the second semester. If
throughout the first half ago, the composition of Islamic finance in
the new FIF 10%, then in the second semester, FIF target of Islamic
finance contributing 50% of the total value of financing.Suhartono,
Director of FIF admitted
Federal International Finance (FIF) is planning to increase the share
of contribution of Islamic finance in the second semester. If
throughout the first half ago, the composition of Islamic finance in
the new FIF 10%, then in the second semester, FIF target of Islamic
finance contributing 50% of the total value of financing.Suhartono,
Director of FIF admitted
INDONESIA - FINANCE- After downpayment regulation, Multi Finance became backbone of Islamic finance
www.kontan.co.id - JAKARTA. After the enactment of the rules of deposit or down payment (DP) in multi-vehicle loans by 20% -25%, the finance company menggeber Islamic services. In fact, the main stronghold of Islamic finance business. At PT Adira Multifinance (Adira Finance), has a new business unit of sharia (UUS) since mid-June 2012. Nevertheless, only a month to operate a direct channel of
INDONESIA - CAPITAL MARKETS - AUCTION RESULTS SUKUK yield at auction sukuk Demand remains high
www.ibpa.com - JAKARTA. State Sharia Securities Auction (SBSN) flooded bid placements. Bids reach Rp 1.93 trillion, nearly four times that of the government's target, which only Rp 500 billion. Series of five sukuk offerings, the government only won two series. Both are PBS001 (reopening), which was won by the weighted average yield of 5.65%, and PBS004 (reopening) with a yield of 6.71% amounting
Selasa, 07 Agustus 2012
INDONESIA - CAPITAL MARKETS - Indonesia sells 540 bln rph sukuk in auction
www.reuters.com - Indonesia sold 540 billion rupiah
($57.05 million) of sukuk in an auction on Tuesday, above a
target of 500 billion rupiah, with yields rising slightly from
the previous auction, the finance ministry said.
The country raised 500 billion rupiah from sales of 25-year
project-based sukuk and 40 billion rupiah from six-year sukuk.
There were no winning bids for six-month sharia
($57.05 million) of sukuk in an auction on Tuesday, above a
target of 500 billion rupiah, with yields rising slightly from
the previous auction, the finance ministry said.
The country raised 500 billion rupiah from sales of 25-year
project-based sukuk and 40 billion rupiah from six-year sukuk.
There were no winning bids for six-month sharia
INDONESIA - BANKING - Bank Mandiri Push BSM & BSHB Go Public
www.bisnis.com - JAKARTA: PT Bank Mandiri Tbk preparing to take off some shares in the subsidiary through an initial public offering as a consequence of regulatory restrictions on bank ownership. Bank Mandiri president director Zulkifli Zaini said the actual regulatory restrictions on bank ownership of common stock in the corporation is not an issue because the government as largest shareholder
INDONESIA - CAPITAL MARKETS - Sukuk investors Stay Have High Return
www.ibpa.co.id - JAKARTA
(IFT) - Interest in the domestic institutional investors is still
relatively high for a bid for the State Sharia Securities (SBSN) or
Sukuk State. Report
of Indonesia's economic growth by 6.4% in the second quarter of 2012,
as reported by the Central Statistics Agency (BPS) can be a catalyst
sukuk investors buy the country. However, investors will ask in return is
(IFT) - Interest in the domestic institutional investors is still
relatively high for a bid for the State Sharia Securities (SBSN) or
Sukuk State. Report
of Indonesia's economic growth by 6.4% in the second quarter of 2012,
as reported by the Central Statistics Agency (BPS) can be a catalyst
sukuk investors buy the country. However, investors will ask in return is
INDONESIA - BANKING - QNB Kesawan Turns to Loss in First Half
www,theindonesiatoday.com - JAKARTA (Indonesia Today) - PT Bank QNB Kesawan
Tbk booked net loss of Rp11.67 billion in the first half of 2012,
flipped from net profit of Rp10.7 billion in the corresponding period of
2011.
The bank actually posted higher net interest income of Rp87.4
billion, representing an increase of 20% from the first half of 2011. Bank QNB Kesawan, however, suffered
Tbk booked net loss of Rp11.67 billion in the first half of 2012,
flipped from net profit of Rp10.7 billion in the corresponding period of
2011.
The bank actually posted higher net interest income of Rp87.4
billion, representing an increase of 20% from the first half of 2011. Bank QNB Kesawan, however, suffered
INDONESIA - FINANCE - Indonesian market reflects a growing economy
www.emergingmoney.com - With GDP of $1.1 trillion, Indonesia is the 15th-largest economy in the world. This growth is tracked by the Jakarta Composite Index, the benchmark equity index for the Indonesian market.
The Indonesia Stock Exchange was created in 2007, when the Jakarta
Stock Exchange merged with the Surabaya Stock Exchange. The Jakarta
Composite Index tracks all listed companies on
The Indonesia Stock Exchange was created in 2007, when the Jakarta
Stock Exchange merged with the Surabaya Stock Exchange. The Jakarta
Composite Index tracks all listed companies on
INDONESIA - BANKING - Maybank Optimistic It Will Maintain Control of BII
www.thejakartaglobe.com - Kuala Lumpur. Malayan Banking is convinced that it will
be able to keep its controlling stake in Bank Internasional Indonesia
despite the recent change in bank ownership rules in Indonesia.
Maybank, which bought BII in 2008, owns 97.3 percent of Indonesia’s eighth-largest lender.
Last Tuesday, BII reported that it recorded a 61 percent increase in net income during
be able to keep its controlling stake in Bank Internasional Indonesia
despite the recent change in bank ownership rules in Indonesia.
Maybank, which bought BII in 2008, owns 97.3 percent of Indonesia’s eighth-largest lender.
Last Tuesday, BII reported that it recorded a 61 percent increase in net income during
INDONESIA - BANKING - Indonesia to Allow Currency Hedging for Banks: Islamic Finance
www.thejakartaglobe.com - Indonesia will let Shariah-compliant banks hedge against exchange-rate
movements to spur growth in Islamic financial assets and narrow the gap
with Malaysia’s industry, which is seven times larger.
Bank
Indonesia, the National Shariah Board and the Indonesia Institute of
Accountants have approved the instruments, available in Malaysia since
2006, Adiwarman
movements to spur growth in Islamic financial assets and narrow the gap
with Malaysia’s industry, which is seven times larger.
Bank
Indonesia, the National Shariah Board and the Indonesia Institute of
Accountants have approved the instruments, available in Malaysia since
2006, Adiwarman
Minggu, 05 Agustus 2012
INDONESIA - CAPITAL MARKETS - Updating DES
www.bapepam.go.id - PRESS RELEASE - PUBLICATION OF RESULTS GENERAL Pull BODY AND THE FINANCIAL CAPITAL MARKET On Wednesday, 1 August 2012, Bapepam and LK has issued Bapepam and LK decision of the numbers: Kep-429/BL/2012 about Sign Effects Shariah. Publishing decisions are based on periodic review Bapepam and LK performed on Shariah Stock Register has been set previously. Effect of the list of
INDONESIA - REGULATIONS - Capital Markets : contract of Istisna and Musharaka
www.bapepam.go.id - PRESS RELEASE - ISSUANCE OF REGULATIONSSUPERVISORY BOARD CAPITAL MARKET AND FINANCIAL INSTITUTIONSOn this day, Wednesday, August 1, 2012, Bapepam-LK issued a regulation is Regulation No. IX.A.14, attachment, and the Chairman LK Number: KEP-430/BL/2012 dated August 1, 2012 of the Agreement, the Agreement Used in the issuance of Islamic securities in the capital market. This
Selasa, 31 Juli 2012
SINGAPORE - BANKING - Potential for growth in S'pore
www.todayonline.com - Singapore is challenging established wealth centres more fiercely than
anywhere else in Asia, according to UBS bank and Campden Research. Yet,
in Islamic banking, it lags behind. Even though Singapore
has had Islamic banking since 1995 and there are investments such as the
NTUC Income Takaful Fund, banks generally offer only a few choices such
as savings and
anywhere else in Asia, according to UBS bank and Campden Research. Yet,
in Islamic banking, it lags behind. Even though Singapore
has had Islamic banking since 1995 and there are investments such as the
NTUC Income Takaful Fund, banks generally offer only a few choices such
as savings and
INDONESIA - FASHION - Indonesia Set to Become Islamic Fashion Capital by 2020
www.thejakartaglobe.com - The Industry Ministry is hoping to turn Indonesia into an Islamic
fashion capital by 2020, and is looking to Europe as its main export
market in the future.Euis Saedah, the The Industry Ministry’s
director general for small- and medium-scale industries said on Tuesday
that Islamic clothing made by Indonesian designers has garnered
widespread enthusiasm, citing an
fashion capital by 2020, and is looking to Europe as its main export
market in the future.Euis Saedah, the The Industry Ministry’s
director general for small- and medium-scale industries said on Tuesday
that Islamic clothing made by Indonesian designers has garnered
widespread enthusiasm, citing an
MALAYSIA - CAPITAL MARKETS - First Resources Issues RM600 Million Islamic Notes
www.theindonesiatoday.com -SINGAPORE (Indonesia Today) - First Resources
Limited, a company controlled by Indonesian family of Ciliandra
Fangiono, has issued RM600 million of Islamic medium term notes (IMTN).
The IMTN issued Tuesday, July 31, 2012 is part of the RM2 billion Ringgit-denominated Islamic medium term note program of First Resources.
The IMTNs have a tenor of five (5) years and will
Limited, a company controlled by Indonesian family of Ciliandra
Fangiono, has issued RM600 million of Islamic medium term notes (IMTN).
The IMTN issued Tuesday, July 31, 2012 is part of the RM2 billion Ringgit-denominated Islamic medium term note program of First Resources.
The IMTNs have a tenor of five (5) years and will
INDONESIA - BANKING - BNI Syariah Distributes Funding Rp5, 86 Trillion
www.bisnis.com - SURABAYA: PT Bank BNI Syariah post the disbursement of funding 31% increase during the first half of 2012 which became Rp5, 866 trillion.Director of Operations and Financial said BNI Syariah Junaidi Hisom third-party fund-raising achievement also increased from Rp 5 that is, 31 trillion at the end of 2011 to Rp 7, 25 trillion as of June 2012. According to him, to switch to public
INDONESIA - TAKAFUL - Syariah Mandiri Axa underwriting surplus of USD 3 M
www.kontan.co.id - JAKARTA. PT
AXA Mandiri Financial Services (AXA Mandiri) recorded a surplus
underwriting Takaful fund of Rp 3.068 billion at the end of 2011 then. Underwriting surplus funds derived from the contributions of participants in a fund managed by AXA Mandiri tabarru."Funds AXA Mandiri tabarru 2011 shows a fairly good growth so that we can record underwriting surplus at the end of
AXA Mandiri Financial Services (AXA Mandiri) recorded a surplus
underwriting Takaful fund of Rp 3.068 billion at the end of 2011 then. Underwriting surplus funds derived from the contributions of participants in a fund managed by AXA Mandiri tabarru."Funds AXA Mandiri tabarru 2011 shows a fairly good growth so that we can record underwriting surplus at the end of
Senin, 30 Juli 2012
INDONESIA - BANKING - Syariah Bukopin degree CSR During Ramadan
WWW.REPUBLIKA.CO.ID,
JAKARTA - During Ramadan, PT Bank Syariah Bukopin (BSB) organizes
social activities of humanity in the program "corporate social
responsibility" (CSR) in all branches.CSR program is a benefit orphans, giving takjil in front of the BSB, donations to the mosque and dawn."Coinciding
in this holy month of Ramadan, as one of the CSR program, today we came
across Cijugjung,
JAKARTA - During Ramadan, PT Bank Syariah Bukopin (BSB) organizes
social activities of humanity in the program "corporate social
responsibility" (CSR) in all branches.CSR program is a benefit orphans, giving takjil in front of the BSB, donations to the mosque and dawn."Coinciding
in this holy month of Ramadan, as one of the CSR program, today we came
across Cijugjung,
WORLD - LIFESTYLE - Islamic Facebook Salamworld prepares to launch
www.todayszaman.com -In the world of social
media, Facebook has long been king, but one company says that the market
is ripe for a coup from an unprecedented contender: a social media
platform for Muslims, by Muslims.
Indeed, Facebook’s user numbers
have slumped of late. The website has been dropped by roughly 400,000
users in
media, Facebook has long been king, but one company says that the market
is ripe for a coup from an unprecedented contender: a social media
platform for Muslims, by Muslims.
Indeed, Facebook’s user numbers
have slumped of late. The website has been dropped by roughly 400,000
users in
Sabtu, 28 Juli 2012
INDONESIA - CAPITAL MARKETS - State Sukuk demand surged 64%
www.bisnis.com - JAKARTA: investor demand for securities in Islamic countries (SBSN) or a state known as sukuk was listed on the auction day Rp1, 99 trillion, up 64.25% from the previous auction is only Rp1, 22 trillion. Data Directorate General of Debt Management, Ministry of Finance says investors sukuk many countries pursue the tenor of 6 years to reach Rp731 billion PBS001. Furthermore,
Rabu, 25 Juli 2012
MALAYSIA - FINANCE - Malaysia's pension reform may boost Islamic funds
www.reuters.com - SYDNEY, July 23 (Reuters) - Malaysians will have more room
to allocate part of their retirement contributions to Islamic
investments under sweeping government reforms to the pension
system.
At present, the Employees Provident Fund (EPF) receives
public pension contributions and invests the money. Some of that
investment is in sharia-compliant areas such as sukuk and halal
stocks
to allocate part of their retirement contributions to Islamic
investments under sweeping government reforms to the pension
system.
At present, the Employees Provident Fund (EPF) receives
public pension contributions and invests the money. Some of that
investment is in sharia-compliant areas such as sukuk and halal
stocks
INDONESIA - BANKING - Bank Mega Syariah’s net profit jumps three folds on effective liquidity management
www.bisnis.com - JAKARTA: PT Bank Mega Syariah, a subsidiary of PT Bank Mega Tbk, earned
net profit of IDR119 billion in the period from January to June 2012,
increased more than three folds compared with the previous year of
IDR39.45 billion.
Beny Witjaksono, Managing Director of Bank Mega Syariah (BMS), said the
increase in profits sustained by the expansion of funding and effective
net profit of IDR119 billion in the period from January to June 2012,
increased more than three folds compared with the previous year of
IDR39.45 billion.
Beny Witjaksono, Managing Director of Bank Mega Syariah (BMS), said the
increase in profits sustained by the expansion of funding and effective
INDONESIA - BANKING - BRI Targets Brokerage in Expansion Push
www.thejakartaglobe.com - Bank Rakyat Indonesia, the second-largest lender by assets, is close to acquiring a local brokerage company. BRI,
which focuses its lending on small- and medium-size companies, has been
scouring the country’s financial markets for months to find the right
brokerage. It has narrowed the candidates down to two. “We have
to complete the acquisition this year,” BRI’s
which focuses its lending on small- and medium-size companies, has been
scouring the country’s financial markets for months to find the right
brokerage. It has narrowed the candidates down to two. “We have
to complete the acquisition this year,” BRI’s
INDONESIA - CAPITAL MARKETS - Absorb emerintah Only Auction Rp 460 billion of Sukuk State
www.ibpa.co.id - JAKARTA (IFT) - The Securities auction Sharia State (SBNS) or State Sukuk is not very attractive. The
government only won investor demand of Rp 460 billion from the total
amount of the bids amounting to Rp 1.9 trillion and won only one series
of government.One series was won by the government PBS004 tenor of 25 years with an average of 6.69%. Bond analysts said the government
government only won investor demand of Rp 460 billion from the total
amount of the bids amounting to Rp 1.9 trillion and won only one series
of government.One series was won by the government PBS004 tenor of 25 years with an average of 6.69%. Bond analysts said the government
INDONESIA - CAPITAL MARKETS - Auction Plan SBSN or Sukuk State On On July 24, 2012
www.ibpa.co.id- On Tuesday, July 24, 2012, the Government of Indonesia will conduct the Auction Sales State Sharia Securities (SBSN) or State project-based Sukuk (Sukuk Based Project) Series is PBS001 (reopening), PBS002 (reopening), PBS003 (reopening) and PBS004 (reopening). They will also be auctioned State Sukuk series SPN-S 25012013 (new issuance) to meet part of the national budget financing
INDONESIA - CAPITAL MARKETS - Sukuk investors want a high yield
www.ibpa.co.id - JAKARTA. The Government held a State Sharia Securities (SBSN), Tuesday (24/7) future. Of
the instrument auction, which is also popularly known as sukuk country,
the government is targeting the acquisition of funds worth Rp 500
billion.There are five series of project-based sukuk countries (project based sukuk) has to offer. Four series have been offered in previous auction,
the instrument auction, which is also popularly known as sukuk country,
the government is targeting the acquisition of funds worth Rp 500
billion.There are five series of project-based sukuk countries (project based sukuk) has to offer. Four series have been offered in previous auction,
INDONESIA - CAPITAL MARKETS - Result Sovereign Sukuk Auction July 24, 2012
www.bi.go.id - On this day, Tuesday, July 24, 2012, has conducted auctions State Sharia Securities (SBSN) or State Sukuk series SPN-S 25,012,013 (new issuance), PBS001 (reopening), PBS002 (reopening), PBS003 (reopening), and PBS004 (reopening) through the auction of Bank Indonesia. In accordance with the authority granted by Law No. 19 Year 2008 on State Sharia Securities, then the auction
INDONESIA - BANKING - Bank Syariah Mandiri Open 'Warung Mikro'
WWW.REPUBLIKA.CO.ID, KUPANG-Bank Syariah Mandiri Branch Kupang, East Nusa Tenggara open the program "Micro Shop" to provide loans for people managing small and medium enterprises with a limit of Rp 100 million to develop productive enterprises. "BSM Kupang Branch is also a bank that can help people who have small and medium enterprises by providing venture capital to business managers a clear and
Selasa, 24 Juli 2012
INDONESIA - BANKING - OJK Must Keep Developing Islamic Banking
www.investor.co.id - JAKARTA
- Economic Observer Indonesian Institute of Sciences (LIPI) Eko Agus
said the Financial Services Authority (OJK) as the new financial
industry oversight should try to improve the prudential aspects of the
Islamic banking business, while maintaining growth in the financial
industry."Currently
the number of Islamic banking is only about 20 to 30% of total national
- Economic Observer Indonesian Institute of Sciences (LIPI) Eko Agus
said the Financial Services Authority (OJK) as the new financial
industry oversight should try to improve the prudential aspects of the
Islamic banking business, while maintaining growth in the financial
industry."Currently
the number of Islamic banking is only about 20 to 30% of total national
INDONESIA - BANKING - Pawn GOLD: Disbursement Danamon Syariah reach Rp154, 4 billion
www.bisnis.com - JAKARTA: The total disbursement of gold pawning business lines Sharia business unit of PT Bank Danamon Indonesia Tbk reached Rp154, 4 billion by June 2012 or grew 137% compared to the end of 2011 amounting to Rp65 billion. Director of Islamic Banking Danamon said Herry Hykmanto surge financing through lines nisnis Gold Solution due to Danamon Syariah high demand by the public. He
INDONESIA - BANKING - HAJJ FUND drawn Affairs, Islamic Banking Performance immediately dropped
www.bisnis.com - JAKARTA:
Withdrawal of funds by the Ministry of Religious pilgrimage to be one
major factor weakening the performance of Islamic banking industry
during April.A
source of Business in an Islamic bank in the know said the weaker
performance of Islamic banks because the funds withdrawn Hajj then
transferred to the instrument sukuk"It came out trillions and must be replaced to
Withdrawal of funds by the Ministry of Religious pilgrimage to be one
major factor weakening the performance of Islamic banking industry
during April.A
source of Business in an Islamic bank in the know said the weaker
performance of Islamic banks because the funds withdrawn Hajj then
transferred to the instrument sukuk"It came out trillions and must be replaced to
INDONESIA - CAPITAL MARKETS - Indonesia raises 460 bln rph in sukuk auction
www.reuters.com - (Reuters) - Indonesia
raised 460 billion rupiah ($48.65 million) from a sukuk auction on
Tuesday, lower than a target of 500 billion rupiah, the debt office
said.
The country only sold 25-year project-based sukuk at a
weighted average yield of 6.69 percent. There were no winning
bids for one-year sharia T-bills and six-year, 10-year as well
as 15-year project-based sukuk. (
raised 460 billion rupiah ($48.65 million) from a sukuk auction on
Tuesday, lower than a target of 500 billion rupiah, the debt office
said.
The country only sold 25-year project-based sukuk at a
weighted average yield of 6.69 percent. There were no winning
bids for one-year sharia T-bills and six-year, 10-year as well
as 15-year project-based sukuk. (
INDONESIA - FINANCE - Indonesian Govt to Put Idle Hajj Funds in Development Bonds
www.thejakartaglobe.com - The government plans to reallocate dormant hajj funds from the Finance
Ministry into project-based sukuk in order to help raise money for
urgently needed infrastructure development. Project-based sukuk are Shariah-compliant government bonds backed by infrastructure projects. “Now
[the money] is merely entrusted to the Finance Ministry. But it would
be better if it
Ministry into project-based sukuk in order to help raise money for
urgently needed infrastructure development. Project-based sukuk are Shariah-compliant government bonds backed by infrastructure projects. “Now
[the money] is merely entrusted to the Finance Ministry. But it would
be better if it
INDONESIA - REGULATIONS - Bank Indonesia’s Ownership Rule May Speed Up Mergers
www.thejakartaglobe.com - Fitch Ratings says the central bank’s new rule on bank ownership will
likely expedite banking consolidations but will pose challenges for
smaller lenders.
A day after Bank Indonesia announced its new
rule to cap the ownership of banks to 40 percent from 99 percent, Fitch
said in a report on Thursday that “the risk of failing to maintain the
Bank Indonesia criteria
likely expedite banking consolidations but will pose challenges for
smaller lenders.
A day after Bank Indonesia announced its new
rule to cap the ownership of banks to 40 percent from 99 percent, Fitch
said in a report on Thursday that “the risk of failing to maintain the
Bank Indonesia criteria
Jumat, 20 Juli 2012
INDONESIA - BANKING - CIMB NIAGA SYARIAH Padang sued for Rp 2 billion damages
www.bisnis.com - PADANG:
Bank CIMB Niaga Syariah Pondok branch, city of Padang in West Sumatra
are required to pay compensation in the form immateril 2 billion by the
customers.
Rosman
M (49), Eastern District of Rawang residents of South Padang, Padang,
put these demands (in the form of reports) to the Consumer Dispute
Settlement Body (BPSK) Padang.
Reports
of consumer complaints
Bank CIMB Niaga Syariah Pondok branch, city of Padang in West Sumatra
are required to pay compensation in the form immateril 2 billion by the
customers.
Rosman
M (49), Eastern District of Rawang residents of South Padang, Padang,
put these demands (in the form of reports) to the Consumer Dispute
Settlement Body (BPSK) Padang.
Reports
of consumer complaints
INDONESIA - TAKAFUL - Allianz Life achieved a lot of premium Sharia
www.kontan.co.id - JAKARTA. Sharia (UUS) PT Allianz Life Indonesia continued to record good performance over time. The
transistor feat Armed with that, management also plans to become a
legal entity separate UUS itself (spin off) in order to loose the
business space.Throughout
the first half of 2012, Allianz Life Syariah collect Rp 269 billion in
gross premiums, grew 44% from the same period
transistor feat Armed with that, management also plans to become a
legal entity separate UUS itself (spin off) in order to loose the
business space.Throughout
the first half of 2012, Allianz Life Syariah collect Rp 269 billion in
gross premiums, grew 44% from the same period
INDONESIA - BANKING - Bank Danamon shariah unit to inject capital
www.kontan.co.id - JAKARTA. Bank
Danamon Indonesia will increase its capital to Danamon Syariah worth Rp
344 billion, so that at the end of 2012 the total capital increased to
Rp 500 billion. This cash infusion to maintain a capital adequacy ratio or capital adequacy ratio (CAR) at position 12%.Danamon Syariah this year targeting business growth of 30%. If no additional capital, the CAR at 12%
Danamon Indonesia will increase its capital to Danamon Syariah worth Rp
344 billion, so that at the end of 2012 the total capital increased to
Rp 500 billion. This cash infusion to maintain a capital adequacy ratio or capital adequacy ratio (CAR) at position 12%.Danamon Syariah this year targeting business growth of 30%. If no additional capital, the CAR at 12%
INDONESIA - BANKING - OJK Commissioners Officially Installed
www.theindonesiatoday.com - JAKARTA (Indonesia Today) - Supreme Court Chief Hatta Ali has sworn in nine commissioners of Financial Services Authority (OJK) Friday (July 20).
They are Muliaman Hadad as OJK chief, Anny Ratnawati as ex-officio from ministry of finance, and Halim Alamsyah as ex-officio commissioner from Bank Indonesia.
Muliaman Hadad was deputy governor of Bank Indonesia, while Anny
They are Muliaman Hadad as OJK chief, Anny Ratnawati as ex-officio from ministry of finance, and Halim Alamsyah as ex-officio commissioner from Bank Indonesia.
Muliaman Hadad was deputy governor of Bank Indonesia, while Anny
Kamis, 19 Juli 2012
INDONESIA - BANKING - BRI SHARIA Release Wrapped Insurance Savings
www.bisnis.com - JAKARTA: PT Bank BRI Syariah with PT Bringin Life Insurance Welfare issued saving products wrapped in insurance. The product is called Dream Savings BRISyariah iB is a personal term deposits with the system auto-debit payments each month with a fixed period of time. Director of Bank BRI Syariah Moch. Hadi Santoso said the product will be launched in August. "With this product,
INDONESIA - BANKING - Asia Islamic Banking Assets Grow 15 Percent per Year
WWW.REPUBLIKA.CO.ID, KUALA LUMPUR - Islamic Banking Assets showed geliatnya Asia last year. Estimated growth of sharia banking assets reached 15 percent per year for the next 10 years.It is inferred by the global body setting standards, which recorded growth of sharia banking in Asia.Based on data from the central bank, ownership of assets in Malaysia increased by 27 percent over the past year.
INDONESIA - TAKAFUL - Allianz Life premium income up 44% of Sharia
www.kontan.co.id - JAKARTA. During the first half of 2012, the performance of PT Allianz Life Syariah bright. This insurance company had a premium of Rp 269 billion or an increase of 44% over the same period last year. Nearly 97% of premium income derived from products unitlink. While the contribution of agency lines reached 89% of total premium Sharia. The number of agents certified Sharia
INDONESIA - REGULATIONS - Indonesia's new bank rules may not hit Maybank, CIMB
www.btimes.com.my - KUALA LUMPUR:Indonesia's central bank has
issued new rules limiting single ownership in domestic banks at 40 per
cent but allows exemptions that could let Malaysia's top two lenders
hold on to their controlling stakes in banks there.
Bank Indonesia, in a statement on Wednesday, said public-listed
financial institutions will be allowed to keep their current ownership
issued new rules limiting single ownership in domestic banks at 40 per
cent but allows exemptions that could let Malaysia's top two lenders
hold on to their controlling stakes in banks there.
Bank Indonesia, in a statement on Wednesday, said public-listed
financial institutions will be allowed to keep their current ownership
INDONESIA - REGULATONS - Indonesia’s New Bank Ownership Rules Leave Door Open for DBS Deal
www.thejakartaglobe.com - Jakarta/Singapore. Indonesia’s central
bank will cap single ownership of domestic banks at 40 percent under
new rules but allow exemptions that could pave the way for DBS Group’s
$7.2 billion bid for Bank Danamon to proceed.
The long-awaited
regulation announced on Wednesday is aimed at preventing lenders in the
fast-growing G20 country falling captive to single
bank will cap single ownership of domestic banks at 40 percent under
new rules but allow exemptions that could pave the way for DBS Group’s
$7.2 billion bid for Bank Danamon to proceed.
The long-awaited
regulation announced on Wednesday is aimed at preventing lenders in the
fast-growing G20 country falling captive to single
Rabu, 18 Juli 2012
INDONESIA - ARTICLE - The Shari’ah Service in Indonesia’s Conventional Banking System
www.businessislamica.com - Tony Hidayat - In Indonesia’s banking industry the size of Islamic banking is still
small. In January 2012, the assets of Indonesia’s banking industry
reached Rp 3,598 Trillion, while the assets of Islamic banking at the
same period only reached Rp 144 Trillion, or a share of only 4%.
One of the reasons behind this is the limited existence of an Islamic
banking
small. In January 2012, the assets of Indonesia’s banking industry
reached Rp 3,598 Trillion, while the assets of Islamic banking at the
same period only reached Rp 144 Trillion, or a share of only 4%.
One of the reasons behind this is the limited existence of an Islamic
banking
INDONESIA - IMF - Country report - Implementation of the IOSCO Objectives and Principles of Securities Regulation
Date:
July 18, 2012
Electronic Access:
INDONESIA - IDB - Islamic Development Bank approves $1 billion in projects across 20 countries
www.cpifinancial.net - The 284th meeting of the Board of Executive
Directors of the Islamic Development Bank, which convened at IDB
headquarters starting Sunday 16 July, under the chairmanship of Dr.
Ahmad Mohamed Ali, President, IDB Group, approved more than $ 1,158
million towards development projects financing for IDB member countries
and Muslim communities in non-member countries.
This
Directors of the Islamic Development Bank, which convened at IDB
headquarters starting Sunday 16 July, under the chairmanship of Dr.
Ahmad Mohamed Ali, President, IDB Group, approved more than $ 1,158
million towards development projects financing for IDB member countries
and Muslim communities in non-member countries.
This
INDONESIA - BANKING - Banks plan Shariah assets for Asian millionaires (StanChart - CIMB)
www.gulfnews.com - Kuala Lumpur/Hong Kong: Standard Chartered Plc will start Islamic
private banking services in Asia and CIMB Group Holdings Bhd. plans to
roll out new products for the wealthy as they target rich Muslims who
have limited investment options.
The UK’s second-largest lender by market value will offer
Shariah-compliant products tailored to meet the
private banking services in Asia and CIMB Group Holdings Bhd. plans to
roll out new products for the wealthy as they target rich Muslims who
have limited investment options.
The UK’s second-largest lender by market value will offer
Shariah-compliant products tailored to meet the
INDONESIA - BANKING - CIMB offers 1st Indonesian fixed returns
www.btimes.com.my - CIMB Group Holdings Ltd, Malaysia’s second-biggest Islamic bank, is
introducing Indonesia’s first Shariah-compliant fixed returns on
deposits, five years after their adoption in its home market.
PT
Bank CIMB Niaga Syariah, a unit of the Kuala Lumpur- based bank, started
offering the accounts to lenders on June 24 and plans to introduce them
for consumers, Badlisyah Abdul
introducing Indonesia’s first Shariah-compliant fixed returns on
deposits, five years after their adoption in its home market.
PT
Bank CIMB Niaga Syariah, a unit of the Kuala Lumpur- based bank, started
offering the accounts to lenders on June 24 and plans to introduce them
for consumers, Badlisyah Abdul
INDONESIA - CAPITAL MARKETS - BNI Securities Shariah Stock Transactions Volume Runway
www.investor.co.id - JAKARTA
- PT Bank Negara Indonesia (BNI) Securities expect volume growth of
Islamic capital market transactions based on transaction volume to
compensate for the reduction of conventional stocks are predicted to
decline 30 percent in 2012."We
are targeting growth in transaction volume by 20 percent share of
sharia in the year. BNI Securities expect the increase to cover
- PT Bank Negara Indonesia (BNI) Securities expect volume growth of
Islamic capital market transactions based on transaction volume to
compensate for the reduction of conventional stocks are predicted to
decline 30 percent in 2012."We
are targeting growth in transaction volume by 20 percent share of
sharia in the year. BNI Securities expect the increase to cover
INDONESIA - RATNGS - Moody’s Keeps Indonesian Outlook Stable
www.thejakartaglobe.com - Moody’s Investors Service has maintained a stable
outlook for Indonesia’s economy, citing the country’s reliable economic
growth and prudent debt management. The announcement appeared to be
welcomed by the market, which on Monday pushed up bond yields and set
the rupiah into stronger territory in Jakarta.
Moody’s analyst
Christian de Guzman said relatively strong
outlook for Indonesia’s economy, citing the country’s reliable economic
growth and prudent debt management. The announcement appeared to be
welcomed by the market, which on Monday pushed up bond yields and set
the rupiah into stronger territory in Jakarta.
Moody’s analyst
Christian de Guzman said relatively strong
INDONESIA - CAPITAL MARKETS - Government To Issue IDR42 Trilliion Bonds
www.bisnis.com - JAKARTA: The government projected the Government Bond issuance valued at
IDR42 trillion throughout semester II/2012 to cover state budget
deficit in 2012 which reached IDR190.8 trillion.
Ministry of Finance’s Debt Management Director General Rahmat Waluyanto
said the government bond issuance realization with front loading
strategy up to semester I/2012 has reached
IDR42 trillion throughout semester II/2012 to cover state budget
deficit in 2012 which reached IDR190.8 trillion.
Ministry of Finance’s Debt Management Director General Rahmat Waluyanto
said the government bond issuance realization with front loading
strategy up to semester I/2012 has reached
Selasa, 17 Juli 2012
INDONESIA - CAPITAL MARKETS - Indonesian aims to raise 500 bln rph in July 24 sukuk auction
www.reuters.com - (Reuters) - Indonesia aims to raise 500
billion rupiah ($52.91 million) in a sukuk auction on July 24,
the debt office said in a statement on Tuesday.
The finance ministry plans to offer 6-month sharia T-bills
and long terms project-based sukuk with maturities of 6-, 10-,
15- and 25-years. (source)
Indonesia failed to sell all the series offered in a sukuk
auction on July 10.
billion rupiah ($52.91 million) in a sukuk auction on July 24,
the debt office said in a statement on Tuesday.
The finance ministry plans to offer 6-month sharia T-bills
and long terms project-based sukuk with maturities of 6-, 10-,
15- and 25-years. (source)
Indonesia failed to sell all the series offered in a sukuk
auction on July 10.
Senin, 16 Juli 2012
INDONESIA - CAPITAL MARKETS - Results Sukuk Auction July 10
www.bi.go.id - On this day, Tuesday, July 10, 2012, has conducted auctions State Sharia Securities (SBSN) or State Sukuk series SPN-S 11,012,013 (new issuance), PBS001 (reopening), PBS002 (reopening), PBS003 (reopening), and PBS004 (reopening) through the auction of Bank Indonesia. In accordance with the authority granted by Law No. 19 Year 2008 on State Sharia Securities, then the auction
INDONESIA - CAPITAL MARKETS - Auction July 10 : Sukuk investors are not Absorb Country Auction
www.ibpa.co.id - JAKARTA
(IFT) - The government does not win all the bids in the auction of
state securities or sukuk Islamic countries do Tuesday (10/7). Finance Ministry official said the government did not win because it offers investors demand in return (yield) is too high.The results of the sukuk auction held Tuesday, was the worst in 2012. Number of bids reached Rp 1.22 trillion from five
(IFT) - The government does not win all the bids in the auction of
state securities or sukuk Islamic countries do Tuesday (10/7). Finance Ministry official said the government did not win because it offers investors demand in return (yield) is too high.The results of the sukuk auction held Tuesday, was the worst in 2012. Number of bids reached Rp 1.22 trillion from five
MALAYSIA - OPINION - Ramadan wish list for Islamic finance
www.btimes.com.my - WHAT THE GOAL IS: The central issue is about the industry controlling its own destiny
“Behind every success is endeavour… behind endeavour, ability…
behind ability, knowledge… behind knowledge, a seeker ….” Unknown.
AS
THE blessed month of Ramadan arrives, here is my “seeking” list for
Islamic finance. It’s not about another voice asking when the
“Behind every success is endeavour… behind endeavour, ability…
behind ability, knowledge… behind knowledge, a seeker ….” Unknown.
AS
THE blessed month of Ramadan arrives, here is my “seeking” list for
Islamic finance. It’s not about another voice asking when the
Senin, 09 Juli 2012
INDONESIA - BANKING - Pawn Gold BNI Syariah Bukukan Rp250 M
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Negara Indonesia (BNI) Syariah chronicle gold mortgage financing to June of Rp250 billion. This amount is only half of the outstanding mortgage gold same period last year."Peak gold mortgage was in September last year," said Director of Business BNI Syariah, Imam T Saptono, last weekend. Outstanding mortgage gold September 2011 reached Rp750 billion.Since
Minggu, 08 Juli 2012
INDONESIA - CAPITAL MARKETS - Bondholders Laju Tanker Demand Specificity of Bapepam-LK
www.bisnis.com - JAKARTA: Holders of bonds and sukuk PT Berlian Laju Tanker is still waiting in an atmosphere of uncertainty following the shipping status of issuers that defaulted on a debt instrument in February.Yusuf, III/2007 Bond investors who represents one of superannuation funds, Bapepam LK asks firmness and the Ministry of Finance to take action against the issuer can not meet its
INDONESIA - FINANCE - BMT INDUSTRIES apex institutions need
www.bisnis.com - JAKARTA:
Perpetrators of sharia-based microfinance institution of Baitul Maal wa
Tamwil asked the government to set up as an apex institution regulatory
agencies and inspectors.Chairman
of the Association of Baitul Maal wa Tamwil Indonesia (ABSINDO) Aries
Muftie said with the apex, Baitul Maal wa Tamwil (BMT) are scattered in
the area could operate better."With
the apex,
Perpetrators of sharia-based microfinance institution of Baitul Maal wa
Tamwil asked the government to set up as an apex institution regulatory
agencies and inspectors.Chairman
of the Association of Baitul Maal wa Tamwil Indonesia (ABSINDO) Aries
Muftie said with the apex, Baitul Maal wa Tamwil (BMT) are scattered in
the area could operate better."With
the apex,
INDONESIA - BANKING - BNI Launches Shariah iB Hasanah Tunas
www.bisnis.com - JAKARTA: PT BNI Syariah launched iB Tunas Hasanah savings, savings products that target the segment of prospective customers under 17 years of age. Unlike the other children and youth savings, this product has been equipped with features such as e-banking ATM, SMS Banking and Internet Banking, so that in accordance with the development of today's young generation in the modern
INDONESIA - BANKING - Sharia financing will Reaches Rp15 Trillion 2012
www.investor.com.id - JAKARTA
- Islamic banking analyst estimate financing Adiwarman Karim Anwar
Islamic finance industry will increase to Rp15 trillion in 2012, because
the rules limit the application of the down payment (DP) of motor
vehicle loans for conventional financial industry."With
the presence of a motor vehicle loan payment for conventional banking,
the Islamic bank financing
- Islamic banking analyst estimate financing Adiwarman Karim Anwar
Islamic finance industry will increase to Rp15 trillion in 2012, because
the rules limit the application of the down payment (DP) of motor
vehicle loans for conventional financial industry."With
the presence of a motor vehicle loan payment for conventional banking,
the Islamic bank financing
INDONESIA - TAKAFUL - AAUI: DP Trigger Restrictions Growing Takaful
www.investor.co.id - JAKARTA
- Indonesian General Insurance Association (AAUI) rate, the application
of the restrictions on payment (down payment / DP) for motor vehicle
loans sparked growing Sharia-based insurance industry."At
the time of initial application of the restrictions on payment for
vehicles, vehicle financing affected. However, it pushes conventional
financing will switch to the
- Indonesian General Insurance Association (AAUI) rate, the application
of the restrictions on payment (down payment / DP) for motor vehicle
loans sparked growing Sharia-based insurance industry."At
the time of initial application of the restrictions on payment for
vehicles, vehicle financing affected. However, it pushes conventional
financing will switch to the
INDONESIA - FINANCE - CIMB Niaga Syariah channels 4 Multifinance Rp 3.24 T
www.investor.co.id - JAKARTA
- shariah business unit of PT Bank CIMB Niaga Tbk (CIMB Niaga Syariah)
provides working capital financing facilities Rp 3.24 trillion to four
Multifinance, use jack channeling financing industrial consumption. Fourth
Multifinance is PT CIMB Niaga Auto Finance, PT Federal International
Finance (FIF), PT Adira Finance Tbk Multi Dynamics, and PT Mandala Auto
- shariah business unit of PT Bank CIMB Niaga Tbk (CIMB Niaga Syariah)
provides working capital financing facilities Rp 3.24 trillion to four
Multifinance, use jack channeling financing industrial consumption. Fourth
Multifinance is PT CIMB Niaga Auto Finance, PT Federal International
Finance (FIF), PT Adira Finance Tbk Multi Dynamics, and PT Mandala Auto
INDONESIA - BANKING - Maybank Granted Further Six Months Extension for Sell-Down of BII Shares
www.theindonesiatoday.com -
KUALA LUMPUR, Indonesia Today
- Malayan Banking Berhad (Maybank) has been granted a further extension
of six months to fulfill the sell-down of Bank Internasional Indonesia
(BNII) shares.
Maybank informed Bursa Malaysia
Friday (July 6) that on 5 July 2012, the bank received an approval
letter dated 29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga
KUALA LUMPUR, Indonesia Today
- Malayan Banking Berhad (Maybank) has been granted a further extension
of six months to fulfill the sell-down of Bank Internasional Indonesia
(BNII) shares.
Maybank informed Bursa Malaysia
Friday (July 6) that on 5 July 2012, the bank received an approval
letter dated 29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga
INDONESIA - FINANCE - Statement at the Conclusion of the 2012 Article IV Consultation Mission to Indonesia
www.imf.org - Press Release No. 12/251 - July 6, 2012
Mr. Milan Zavadjil, Senior Resident Representative of the
International Monetary Fund (IMF) in Indonesia, released the following
statement today in Jakarta:
“An IMF mission led by Mr. Sanjaya Panth, Division Chief in the Asia
and Pacific Department, visited Jakarta during June 25-July 6, 2012 to
conduct the 2012 Article IV Consultation
Mr. Milan Zavadjil, Senior Resident Representative of the
International Monetary Fund (IMF) in Indonesia, released the following
statement today in Jakarta:
“An IMF mission led by Mr. Sanjaya Panth, Division Chief in the Asia
and Pacific Department, visited Jakarta during June 25-July 6, 2012 to
conduct the 2012 Article IV Consultation
Kamis, 05 Juli 2012
INDONESIA - CAPITAL MARKETS - Indonesia Company Sukuk Shortage Curbs Returns: Islamic Finance
www.thejakartaglobe.com - Indonesia’s three best-performing Islamic bond funds say a rebound in
corporate sukuk sales is failing to keep up with demand from investors
chasing higher returns as government yields decline. Insight
Investments Management’s top-ranked I-Hajj Syariah Fund wants to boost
company holdings from 80 percent if more securities become available,
President Director
corporate sukuk sales is failing to keep up with demand from investors
chasing higher returns as government yields decline. Insight
Investments Management’s top-ranked I-Hajj Syariah Fund wants to boost
company holdings from 80 percent if more securities become available,
President Director
INDONESIA - CAPITAL MARKETS - Indonesia aims to raise 500 bln rph in sukuk auction
www.reuters.com - (Reuters) - Indonesia aims to raise 500
billion rupiah ($53.30 million) in a sukuk auction on July 10
from the sales of sharia T-bills and project-based sukuk, the
finance ministry said on Tuesday. (source)
($1 = 9,380 rupiah)
(Reporting by Adriana Nina Kusuma)
Source: http://in.reuters.com/article/2012/07/03/indonesia-economy-sukuk-idINJ9E8FA00W20120703 - July 3, 2012
billion rupiah ($53.30 million) in a sukuk auction on July 10
from the sales of sharia T-bills and project-based sukuk, the
finance ministry said on Tuesday. (source)
($1 = 9,380 rupiah)
(Reporting by Adriana Nina Kusuma)
Source: http://in.reuters.com/article/2012/07/03/indonesia-economy-sukuk-idINJ9E8FA00W20120703 - July 3, 2012
INDONESIA - BANKING - BIMB awaits response from Indonesian bank
www.thestar.com.my -
KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB)is awaiting response from an Indonesian Islamic bank on its proposed offer to acquire 30% to 40% stake, said managing director Datuk Seri Zukri Samat.
Zukri said the proposed acquisition was part of BIMB’s move to expand its overseas operations.
“BIMB
has identified one bank and has indicated its offer to them but so far,
we have
KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB)is awaiting response from an Indonesian Islamic bank on its proposed offer to acquire 30% to 40% stake, said managing director Datuk Seri Zukri Samat.
Zukri said the proposed acquisition was part of BIMB’s move to expand its overseas operations.
“BIMB
has identified one bank and has indicated its offer to them but so far,
we have
INDONESIA - BANKING - CIMB Niaga Sharia books 61% growth in assets
www.bisnis.com - JAKARTA: PT Bank CIMB Niaga Tbk sharia business unit recorded an
aggressive growth by relying on a high increase in consumer financing.
According to Director of CIMB Niaga Commercial Banking & Sharia
Handoyo Soebali, the assets of its sharia business unit (UUS) reached
IDR5.7 trillion by the end of first half 2012 or 61% higher from IDR3.5
trillion a year earlier.
“The
aggressive growth by relying on a high increase in consumer financing.
According to Director of CIMB Niaga Commercial Banking & Sharia
Handoyo Soebali, the assets of its sharia business unit (UUS) reached
IDR5.7 trillion by the end of first half 2012 or 61% higher from IDR3.5
trillion a year earlier.
“The
INDONESIA - BANKING - CIMB Niaga Syariah consumer financing and multi-finance
www.bisnis.com - AKARTA: PT Bank CIMB Niaga Tbk (CIMB Niaga) through increased funding sharia business unit and multi-consumer. This
is done through the provision of working capital financing facilities
for a number of multi-partner program and the implementation of Sharia
Mortgage Fix Fix n.Director
of Commercial Banking and CIMB Niaga Syariah, Handoyo Soebali CIMB
Niaga Syariah convey
is done through the provision of working capital financing facilities
for a number of multi-partner program and the implementation of Sharia
Mortgage Fix Fix n.Director
of Commercial Banking and CIMB Niaga Syariah, Handoyo Soebali CIMB
Niaga Syariah convey
MALAYSIA - BANKING - Stanchart to make KL its Islamic banking hub
www.btimes.com.my - UPBEAT MOOD: Lender seeks to capitalise on Malaysia’s long-standing
experience and expertise in the sector
MALAYSIA'S efforts to become an international Islamic
finance centre have received a boost as the country's oldest bank, Standard
Chartered Bank, (StanChart) is making Kuala Lumpur its global hub for Islamic
consumer banking.
The bank's new global hub will be led by
INDONESIA - CAPITAL MARKETS - Adjustment DES listing Bapepam
www.bapepam.go.id - June 29, 2012
Decision No. Kep-362/BL/2012 dated June 29, 2012
Keputusan Nomor: Kep-362/BL/2012 tanggal 29 Juni 2012
Penetapan Saham PT Gading Development Tbk
Decision No. Kep-359/BL/2012 dated June 28, 2012
Keputusan Nomor: Kep-359/BL/2012 tanggal 28 Juni 2012
Penetapan Saham PT Tri Banyan Tirta Tbk
Decision No. Kep-351/BL/2012 dated June 27, 2012
Keputusan Nomor: Kep-351
Decision No. Kep-362/BL/2012 dated June 29, 2012
Keputusan Nomor: Kep-362/BL/2012 tanggal 29 Juni 2012
Penetapan Saham PT Gading Development Tbk
Decision No. Kep-359/BL/2012 dated June 28, 2012
Keputusan Nomor: Kep-359/BL/2012 tanggal 28 Juni 2012
Penetapan Saham PT Tri Banyan Tirta Tbk
Decision No. Kep-351/BL/2012 dated June 27, 2012
Keputusan Nomor: Kep-351
Senin, 02 Juli 2012
INDONESIA - FINANCE - After downpayment rule : Islamic finance companies broke
www.kontan.co.id - JAKARTA. Islamic
finance company's business concept of profit after finance ministers
enforcement of regulations (PMK) about the deposit or down payment (DP)
of motor vehicle loans at finance companies two weeks ago. Customer
loans are increasingly interested in taking a motor vehicle through a
scheme based on Islamic law, because the DP is more expensive than the
finance company's business concept of profit after finance ministers
enforcement of regulations (PMK) about the deposit or down payment (DP)
of motor vehicle loans at finance companies two weeks ago. Customer
loans are increasingly interested in taking a motor vehicle through a
scheme based on Islamic law, because the DP is more expensive than the
INDONESIA - CAPITAL MARKETS - Government plans Sukuk debt switch
www.ibpa.co.id - JAKARTA. The government wants to encourage increased liquidity Sharia Government Securities (SBSN) or sukuk country. After plans to form a primary dealership (PIDIS) or sukuk primary dealers, the government is now exploring the repurchase (buyback) sukuk debt switch mechanism or exchange. Director General of Debt Management, Ministry of Finance, Waluyanto, said it is reviewing
INDONESIA - BANKING - Already Muamalat DPK Depreciation Estimate
WWW.REPUBLIKA.CO.ID,
BUKITTINGGI - Withdrawal of funds by the Ministry of Religious Affairs
Haj Indonesia (Kemenag) more or less influence on bank performance,
especially Islamic banks. This makes Islamic banks seek other ways to cope with shrinking deposits.Director of Retail Bank Muamalat, Adrian A Gunadi, said the funds held in Bank Muamalat Kemenag did have a reduction. This is caused by a
BUKITTINGGI - Withdrawal of funds by the Ministry of Religious Affairs
Haj Indonesia (Kemenag) more or less influence on bank performance,
especially Islamic banks. This makes Islamic banks seek other ways to cope with shrinking deposits.Director of Retail Bank Muamalat, Adrian A Gunadi, said the funds held in Bank Muamalat Kemenag did have a reduction. This is caused by a
INDONESIA - BANKING - Asei open Sharia Business Unit
WWW.REPUBLIKA.CO.ID, JAKARTA - As a form of business expansion, PT Insurance Export Indonesia (Asei) open uniy Asei sharia efforts. Industry market share is still very large sharia be one reason Asei open shariah business unit.Industry growth currently dsungguh amazing sharia and sharia insurance business are assessed have a good future. Also
the opportunity product diversification efforts made
the opportunity product diversification efforts made
INDONESIA - BANKING - Mortgage Financing Muamalat Add $ 2 T
WWW.REPUBLIKA.CO.ID,
JAKARTA - Bank Muamalat take advantage of the momentum of high mortgage
payment in the conventional banking which has been set mid-June. Although since early last year in home financing Muamalat is constantly increasing."From January has gone up to Rp 1.5 trillion," said Director of Retail Bank Muamalat, Adrian A Gunadi, Monday (2/7). Muamalat mortgage financing position
JAKARTA - Bank Muamalat take advantage of the momentum of high mortgage
payment in the conventional banking which has been set mid-June. Although since early last year in home financing Muamalat is constantly increasing."From January has gone up to Rp 1.5 trillion," said Director of Retail Bank Muamalat, Adrian A Gunadi, Monday (2/7). Muamalat mortgage financing position
INDONESIA - FINANCE - Learn to Manage Funds Asbisindo Hajj from Malaysia
WWW.REPUBLIKA.CO.ID, JAKARTA - Indonesia Sharia Bank Association (Asbisindo) will have a meeting with bankers Malaysia. One issue to be discussed in this meeting is how Malaysian Islamic banks can manage the fund as a whole pilgrimage. Designed by Asbisindo meeting will take place in early July. in addition to talking about the potential of Islamic banking in each country, this meeting will also
INDONESIA - RATINGS - Pegadaian
www.pefindo.com -PEFINDO affirmed its “idAA+”
ratings of PT Pegadaian (Persero) (PPGD or the Company) and the
Company’s outstanding Bonds X, XI, XII and XIII, Shelf Registration Bond
I/2011 Phase I and Phase II/2012, as well as MTN II/2011. PEFINDO also
affirmed its “idAA+(sy)” rating for the Company’s MTN Ijarah I/2011. Outlook for the corporate rating is “stable”.
The ratings reflect
ratings of PT Pegadaian (Persero) (PPGD or the Company) and the
Company’s outstanding Bonds X, XI, XII and XIII, Shelf Registration Bond
I/2011 Phase I and Phase II/2012, as well as MTN II/2011. PEFINDO also
affirmed its “idAA+(sy)” rating for the Company’s MTN Ijarah I/2011. Outlook for the corporate rating is “stable”.
The ratings reflect
Jumat, 29 Juni 2012
INDONESIA - BANKING - Permata Syariah develop virtual account together with Al-Ijarah
www.bisnis.com - JAKARTA: PT Bank Syariah Business Unit Permata Tbk PT working with Al-Ijarah Indonesia Finance in the development of virtual account. This cooperation aims to facilitate the repayment of motor vehicles, both two wheels and four wheels, for consumers Al Ijarah. "Virtual account customer support flexibility in the deal," said Head of the Sharia Bank Permata Ahmad K. Permana on the
INDONESIA - CAPITAL MARKETS - Government Issuing Sukuk Haji Rp2 trillion
www.investor.co.id - JAKARTA
- The government issued a sukuk fund amounting to Rp2 trillion
pilgrimage to meet the target of most of the 2012 state budget, through
the two series A and series SDHI 2015 2020 SDHI B.Written
statement of the Directorate General of Debt Management, Ministry of
Finance on Thursday, said the issuance of sukuk pilgrimage through the
Haj Fund placements managed by
- The government issued a sukuk fund amounting to Rp2 trillion
pilgrimage to meet the target of most of the 2012 state budget, through
the two series A and series SDHI 2015 2020 SDHI B.Written
statement of the Directorate General of Debt Management, Ministry of
Finance on Thursday, said the issuance of sukuk pilgrimage through the
Haj Fund placements managed by
INDONESIA - BANKING - Add Shariah Capital PermataBank Rp 325 Billion
www.investor.co.id - JAKARTA - Bank Syariah business unit of gems, PermataBank Shariah, the capital increase amounting to Rp 325 billion in June 2012 from the parent company.
"With the increase in financing activities, after the capital of Rp 445 billion and Rp 325 billion plus, and our capital about Rp 770 billion," said the Head of Syariah Business Unit gems K Achmad Permana in Jakarta,
"With the increase in financing activities, after the capital of Rp 445 billion and Rp 325 billion plus, and our capital about Rp 770 billion," said the Head of Syariah Business Unit gems K Achmad Permana in Jakarta,
INDONESIA - BANKING - BTPN ACQUISITION: For merged with Islamic unit
www.bisnis.com - JAKARTA: PT National Savings Bank Ltd. are considering acquiring a small bank which will be merged with Islamic business units. Director of National Savings Bank (BTPN) Jerry Ng said the company is not ready to realize the plan this year, because the possibility of acquisition will be conducted in the coming year. "Sharia yes, we want sharia developed. Apparently not this year.
INDONESIA - BANKING - Islamic banking assets in the KBI Jember reach up 57%
www.bisnis.com - SURABAYA:
The growth of Islamic banking assets operating in the former District
of Besuki in the second quarter of 2012 slowed down.As of May 2012 recorded an increase of assets was only 57.1%. While the same period last year growth was 70% compared to the previous year.Data released today says KBI Jember spots of Islamic banking assets is recorded Rp903 billion in May 2012. "
The growth of Islamic banking assets operating in the former District
of Besuki in the second quarter of 2012 slowed down.As of May 2012 recorded an increase of assets was only 57.1%. While the same period last year growth was 70% compared to the previous year.Data released today says KBI Jember spots of Islamic banking assets is recorded Rp903 billion in May 2012. "
INDONESIA - BANKING - ISLAMIC BANK BUKOPIN upsizes amount Islamic bond
www.bisnis.com - JAKARTA: PT Bank Syariah Bukopin add to holdings of securities to absorb Islamic sukuk issued by PT Bank Muamalat Indonesia Tbk and PT Indosat Tbk. Riyanto, Managing Director of Bank Syariah Bukopin (BSB), said the company is actually targeting the placement of funds of up to Rp100 billion in the two emissions. However, it turns out the company only managed to put half of the
INDONESIA - BANKING - This is the role of Sharia Develop Creative Industries
WWW.REPUBLIKA.CO.ID, JAKARTA - Creative industries in Indonesia began to squirm. An important role should be increased to develop the banking industry.Compared
to the other, the creative industries does not make a major
contribution such as agriculture, which is still less than 10 percent. But a growing number of potentially interested persons will contribute greater.The role of banks, Islamic
to the other, the creative industries does not make a major
contribution such as agriculture, which is still less than 10 percent. But a growing number of potentially interested persons will contribute greater.The role of banks, Islamic
INDONESIA - BANKING - BMT did not Afraid to Compete with Bank Syariah
WWW.REPUBLIKA.CO.ID,
JAKARTA - Baitul Maal Wat Tamwil (BMT) is not afraid to compete with
Islamic banks in providing micro-loans in the sector. Because Islamic banks have a different level with BMT in lending."Level
microstructure is different," said Chairman of BMT Association of
Indonesia (Absindo), Aries Muftie, told Reuters, after a speaker in the
Development Dialogue Islamic Economic
JAKARTA - Baitul Maal Wat Tamwil (BMT) is not afraid to compete with
Islamic banks in providing micro-loans in the sector. Because Islamic banks have a different level with BMT in lending."Level
microstructure is different," said Chairman of BMT Association of
Indonesia (Absindo), Aries Muftie, told Reuters, after a speaker in the
Development Dialogue Islamic Economic
INDONESIA - BANKING - Gold Mortgage CIMB Niaga Syariah Still Promising
WWW.REPUBLIKA.CO.ID, JAKARTA - PT Bank CIMB Niaga Tbk through units of CIMB Niaga Syariah Court, continued to expand its mortgage business in gold. The existence of an urgent need for cash, plus the nature of the liquid gold, make gold mortgage market is still wide open. This consideration is that the policy of CIMB Niaga Syariah for mortgage business continues to expand this gold. Head of CIMB
WORLD - CAPITAL MARKETS - 15% sukuk growth seen
www.thestar.com.my - KUALA LUMPUR: The Islamic finance industry will grow 15% annually in
the next decade, after syariah- compliant banking assets surged in Asia
in the past year, according to a global standards-setting body.
Holdings
in Malaysia rose 27% to RM344bil in the 12 months to April 30,
according to the central bank. In Indonesia, they climbed 43% to 144.3
trillion rupiah (US
the next decade, after syariah- compliant banking assets surged in Asia
in the past year, according to a global standards-setting body.
Holdings
in Malaysia rose 27% to RM344bil in the 12 months to April 30,
according to the central bank. In Indonesia, they climbed 43% to 144.3
trillion rupiah (US
INDONESIA - TAKAFUL - A.M. Best Special Report: Economy Boosts Indonesia's Insurers; Capital, Regulatory Challenges Loom
www.marketwatch.com - HONG KONG, Jun 28, 2012 (BUSINESS WIRE) --
Indonesia's solid economy is fueling growth for a developing non-life
insurance market, well supported by domestic consumption and investment
offsetting a weaker international environment, according to a new report
from A.M. Best Co.
INDONESIA - BANKING - Bank Victoria Mulls 20% Stake Sale to Foreign Investor
www.theindonesiatoday.com - JAKARTA, Indonesia Today - PT Bank Victoria International Tbk (BVIC) plans to sell 15-20% stake to foreign investors for increasing capital, Investor Daily reported this morning.
Andrew A Haswin, alternate president director of Bank Victoria, said
some foreign investors including from Europe are interested to buy Bank
Victoria's shares. "Growing by organically is
Andrew A Haswin, alternate president director of Bank Victoria, said
some foreign investors including from Europe are interested to buy Bank
Victoria's shares. "Growing by organically is
INDONESIA - CAPITAL MARKETS - Indonesia Yield Spread Over Malaysia Shrinks: Islamic Finance
www.thejakartaglobe.com - The yield premium for Indonesia’s dollar-denominated Islamic bonds over
Malaysia’s dropped by the most in a year this month as falling oil
prices eased the burden on the budget and made room for economic
stimulus. The spread between Indonesia’s 8.8 percent Islamic
debt due April 2014 and Malaysia’s 3.928 percent note due June 2015
narrowed 33 basis points in
Malaysia’s dropped by the most in a year this month as falling oil
prices eased the burden on the budget and made room for economic
stimulus. The spread between Indonesia’s 8.8 percent Islamic
debt due April 2014 and Malaysia’s 3.928 percent note due June 2015
narrowed 33 basis points in
AUSTRALIA - FUNDS - Crescent Wealth to launch Australia's 1st Islamic pension fund
www.reuters.com - (Reuters) - Australian fund manager Crescent
Wealth plans to launch the country's first Islamic pension fund
by December and allocate between 15 to 30 percent of it in
property, its managing director said.
Talal Yassine said Crescent Wealth hopes to build the fund
to between A$4 billion ($4.03 billion) and A$6 billion in five
years.
Crescent Wealth, which was established last
Wealth plans to launch the country's first Islamic pension fund
by December and allocate between 15 to 30 percent of it in
property, its managing director said.
Talal Yassine said Crescent Wealth hopes to build the fund
to between A$4 billion ($4.03 billion) and A$6 billion in five
years.
Crescent Wealth, which was established last
KOREA - FINANCE - Islamic Development Bank signs $2bn deal with Korea Development Bank
www.cpifinancial.net - The Islamic Development Bank ( IDB ) has signed a Framework Co-financing Agreement (FCA) with Korea Development Bank (KDB) in which each bank will earmark $1 billion to co-finance public private partnership (PPP) projects in IDB member countries over the next three years.
The common pipeline of projects for co-financing
would be based on the two institutions' shared
The common pipeline of projects for co-financing
would be based on the two institutions' shared
Rabu, 27 Juni 2012
THAILAND - BANKING - Islamic Bank seeks another soft loan for flood victims.
www.nationmultimedia.com - Islamic Bank of Thailand has asked the central bank to provide it
with an additional Bt800 million in soft loans for re-lending to flood
victims, president Thirasak Suwanayos said yesterday.
The bank also plans to lend more to support those wanting to do business in Asean.
Flood
victims have already applied for loans worth Bt800 million, which is
the amount
with an additional Bt800 million in soft loans for re-lending to flood
victims, president Thirasak Suwanayos said yesterday.
The bank also plans to lend more to support those wanting to do business in Asean.
Flood
victims have already applied for loans worth Bt800 million, which is
the amount
THAILAND - BANKING - IBank Thailand sets sights on halal export loans
www.bangkokpost.com -The Islamic Bank of Thailand (IBank) plans to
increase its focus on halal food exports, with a target of 3 billion
baht in loans for the industry this year, says bank president Dheerasak
Suwannayos.
The target is a 50% increase from last year, he said. IBank expects
to extend 20 billion baht in credit to all sectors this year.
Mr Dheerasak said of Asean's 601 million
increase its focus on halal food exports, with a target of 3 billion
baht in loans for the industry this year, says bank president Dheerasak
Suwannayos.
The target is a 50% increase from last year, he said. IBank expects
to extend 20 billion baht in credit to all sectors this year.
Mr Dheerasak said of Asean's 601 million
INDONESIA - CAPITAL MARKETS - Bank Muamalat Gets Ball Rolling On Fund-Raising With Bond Sale
www.thejakartaglobe.com - Bank Muamalat, an Islamic lender in Indonesia, is planning to raise Rp
800 billion ($85 million) from the sale of subordinated Islamic debt
this week. The bank, which is partly controlled by the Islamic
Development Bank, is offering the 10-year Islamic notes to investors
today and plans to list the debt on the Indonesia Stock Exchange next
Monday. The offering will
800 billion ($85 million) from the sale of subordinated Islamic debt
this week. The bank, which is partly controlled by the Islamic
Development Bank, is offering the 10-year Islamic notes to investors
today and plans to list the debt on the Indonesia Stock Exchange next
Monday. The offering will
INDONESIA - CAPITAL MARKETS - Auction results sukuk June 26
www.bi.go.id - On this day, Tuesday, June 26, 2012, has conducted auctions State Sharia Securities (SBSN) or Sukuk series PBS001 State (reopening), PBS002 (reopening), PBS003 (reopening), and PBS004 (reopening) through the auction of Bank Indonesia. In accordance with the authority granted by Law No. 19 Year 2008 on State Sharia Securities, then the auction results are as follows: (source)
INDONESIA - REGULATIONS - BI tightened sanctions fit & proper test Islamic banking
www.kontan.co.id - JAKARTA. Bank
Indonesia (BI) issued new rules to tighten sanctions and consequences
for those who did not pass the fit and proper test (Fit & Proper
Test) Islamic Banking and Sharia.Beleid
14/6/PBI/2012 a numbered regulation is mentioned, the period of
sanctions was not associated with the actions that assessed the impact
of the loss or potential loss of Islamic banks,
Indonesia (BI) issued new rules to tighten sanctions and consequences
for those who did not pass the fit and proper test (Fit & Proper
Test) Islamic Banking and Sharia.Beleid
14/6/PBI/2012 a numbered regulation is mentioned, the period of
sanctions was not associated with the actions that assessed the impact
of the loss or potential loss of Islamic banks,
INDONESIA - RATINGS - Fitch confirms ratings of Bank Muamalat A
www.kontan.co.id - JAKARTA. Fitch
Ratings affirmed the National Long-Term ratings of PT Bank Muamalat
Indonesia Tbk at level A with a stable outlook and ratings at BBB
Muamalat subordinated bonds.The
ranking reflects Fitch's view of the limited opportunities of
government support, providing Muamalat symbolic role in the development
of Islamic banking in Indonesia. It also highlights assets
Ratings affirmed the National Long-Term ratings of PT Bank Muamalat
Indonesia Tbk at level A with a stable outlook and ratings at BBB
Muamalat subordinated bonds.The
ranking reflects Fitch's view of the limited opportunities of
government support, providing Muamalat symbolic role in the development
of Islamic banking in Indonesia. It also highlights assets
INDONESIA - RATNGS - Fitch rates Bank Mualat A (idn)
www.investor.co.id - JAKARTA
- Rating agency Fitch Ratings assign ratings (rating) Long-term
Indonesia Tbk, PT Bank Muamalat at level A (idn) with a stable outlook,
as well as subordinate debt rating at BBB level (idn).Fitch
assessed, the possibility is supported by the State Bank Muamalat is
very small, because the bank already has a symbolic role in the
development of Islamic banking in
- Rating agency Fitch Ratings assign ratings (rating) Long-term
Indonesia Tbk, PT Bank Muamalat at level A (idn) with a stable outlook,
as well as subordinate debt rating at BBB level (idn).Fitch
assessed, the possibility is supported by the State Bank Muamalat is
very small, because the bank already has a symbolic role in the
development of Islamic banking in
INDONESIA - BANKING - Product development biggest challenge
www.bisnis.com - MAKASSAR-limited
products of Islamic banks today become one of the challenges in efforts
to develop Islamic banking industry in capturing the opportunities that
exist. Chairman
of the Association of Islamic Economist (IAEI) Bambang PS Brodjonegoro
said the lack of Islamic banking products is one of three factors
challenge the growth of Islamic finance is not significant.
products of Islamic banks today become one of the challenges in efforts
to develop Islamic banking industry in capturing the opportunities that
exist. Chairman
of the Association of Islamic Economist (IAEI) Bambang PS Brodjonegoro
said the lack of Islamic banking products is one of three factors
challenge the growth of Islamic finance is not significant.
INDONESIA - CAPITAL MARKETS - Sovereing Sukuk demand fell 29,6 %
www.bisnis.com - JAKARTA:
investor demand for securities in Islamic countries (SBSN) or a state
known as sukuk was listed on the auction day only Rp1, 59 trillion, down
29.6% from the previous auction of Rp2, 26 trillion.Data
Directorate General of Debt Management, Ministry of Finance says
investors sukuk many countries pursue the tenor of 6 years to reach
Rp916 billion PBS001.Furthermore,
investor demand for securities in Islamic countries (SBSN) or a state
known as sukuk was listed on the auction day only Rp1, 59 trillion, down
29.6% from the previous auction of Rp2, 26 trillion.Data
Directorate General of Debt Management, Ministry of Finance says
investors sukuk many countries pursue the tenor of 6 years to reach
Rp916 billion PBS001.Furthermore,
Selasa, 26 Juni 2012
INDONESIA - REGULATIONS - DBS Indonesia Deal May Dodge New Bank Ownership Rules
www.thejakartaglobe.com - The gloom surrounding DBS Group’s $7.2 billion bid for Indonesia’s Bank
Danamon is giving way to renewed optimism, with signals from the central
bank in Jakarta on Tuesday suggesting the Singapore lender’s takeover
may just scrape through.Southeast Asia’s biggest banking
takeover bid was thrown into limbo in April, when Bank Indonesia (BI)
announced it would not
Danamon is giving way to renewed optimism, with signals from the central
bank in Jakarta on Tuesday suggesting the Singapore lender’s takeover
may just scrape through.Southeast Asia’s biggest banking
takeover bid was thrown into limbo in April, when Bank Indonesia (BI)
announced it would not
Senin, 25 Juni 2012
INDONESIA - REGULATIONS - Bank Indonesia Spells Out Three Requirements for Bank Ownership
www.thejakartaglobe.com -Bank Indonesia has spelled out three main requirements
for investors to be able to own more than 40 percent and up to 90
percent of stakes in banks.
Bank Indonesia deputy governor Halim
Alamsyah said in the Bank Indonesia Regulation on Banking Ownership
Structures, BI differentiated three categories — ownership of up to 40
percent, up to 30 percent and up to 20
for investors to be able to own more than 40 percent and up to 90
percent of stakes in banks.
Bank Indonesia deputy governor Halim
Alamsyah said in the Bank Indonesia Regulation on Banking Ownership
Structures, BI differentiated three categories — ownership of up to 40
percent, up to 30 percent and up to 20
INDONESIA - CAPITAL MARKETS - Bank Muamalat Upsizes Sukuk Subdebt to Rp800 Billion
www.theindonesiatoday.com - JAKARTA, Indonesia Today
- Indonesia's largest shariah PT Bank Muamalat Tbk upsizes the issuance
of its syariah (sukuk) subordinated mudharabah to Rp500 billion from
initial plan Rp500 billion, first phase of Rp1.5 trillion syariah
subdebt program.
The syariah subdebt will have tenor of 10 years. The Indonesian rating agency Pefindo has rated idA (sy) for the
- Indonesia's largest shariah PT Bank Muamalat Tbk upsizes the issuance
of its syariah (sukuk) subordinated mudharabah to Rp500 billion from
initial plan Rp500 billion, first phase of Rp1.5 trillion syariah
subdebt program.
The syariah subdebt will have tenor of 10 years. The Indonesian rating agency Pefindo has rated idA (sy) for the
MALAYSIA - CAPITAL MARKETS - Bursa Malaysia losing its glitter
www.thesundaily.com - PETALING JAYA (June 25, 2012): Once considered the
third-largest market in Asia after Tokyo and Hong Kong during the 1990s,
Bursa Malaysia now needs to do more or risk falling further behind its
competitors, analysts warned.
They said it's not enough to pay lip service to the goal of
developing Bursa Malaysia into an attractive and competitive exchange in
the region,
third-largest market in Asia after Tokyo and Hong Kong during the 1990s,
Bursa Malaysia now needs to do more or risk falling further behind its
competitors, analysts warned.
They said it's not enough to pay lip service to the goal of
developing Bursa Malaysia into an attractive and competitive exchange in
the region,
INDONESIA - EVENTS - Government Seriously Develops Indonesian Islamic Financial Industry
www.depkeu.go.id - Jakarta, 20/6/2012 MoF(Fiscal) News - Opening the International Conference on
Islamic Capital Market in Jakarta on Tuesday, Vice Minister of Finance I Anny Ratnawati conveyed that the government of Indonesia commits
to develop Sharia financial industry as a part of
national economic development. This commitment is reflected in the development
of Islamic investment products (
Islamic Capital Market in Jakarta on Tuesday, Vice Minister of Finance I Anny Ratnawati conveyed that the government of Indonesia commits
to develop Sharia financial industry as a part of
national economic development. This commitment is reflected in the development
of Islamic investment products (
INDONESIA - CAPITAL MARKETS - Indonesia eyes the role as Asian sukuk hub
WWW.REPUBLIKA.CO.ID, JAKARTA - Government is expected to develop
Indonesian sukuk market and boost Indonesian role as a hub for Asian
sukuk. The project sukuk for infrastructure financing is planned to be
issued on the second semester.
The Director General of Debts Management in the Ministry of Finance,
Rahmat Waluyanto, mentioned that issuing local currency sukuk is among
government’s
Indonesian sukuk market and boost Indonesian role as a hub for Asian
sukuk. The project sukuk for infrastructure financing is planned to be
issued on the second semester.
The Director General of Debts Management in the Ministry of Finance,
Rahmat Waluyanto, mentioned that issuing local currency sukuk is among
government’s
Minggu, 24 Juni 2012
INDONESIA - BANKING - CIMB Niaga launches Islamic money market transactions
www.kontan.co.id - JAKARTA. PT Bank CIMB Niaga through sharia business unit, CIMB Niaga Syariah ready to launch the Islamic money market transactions (SATISFIED), the Certificate of Commodity Trading Interbank Based on Sharia Principles (Sika). Readiness is supported by the terms of Bank Indonesia to CIMB Niaga 14/137/DPM numbers on June 14, 2012 which affirmed the instrument permits the use of
INDONESIA - BANKING - BNI Syariah Hasanah Card Exceeds Target
WWW.REPUBLIKA.CO.ID, JAKARTA - Card Issuance Hasanah Bank Negara Indonesia (BNI) Syariah over the target. Until the first half, BNI Syariah have issued 92 thousand cards with outstanding Hasanah Rp 194 billion."Exceeding
the target company is only 90 thousand cardholders," said Director of
Business BNI Syariah, Imam Teguh Saptono, Milad between the two BNI
Syariah in the East Plaza Senayan on
the target company is only 90 thousand cardholders," said Director of
Business BNI Syariah, Imam Teguh Saptono, Milad between the two BNI
Syariah in the East Plaza Senayan on
INDONESIA - BANKING - BNI Syariah targets 140 new branches in 2012
www.investor.co.id - JAKARTA
- PT BNI Syariah target has more than 140 offices service until the end
of 2012 to realize the commitment of Islamic banks is close to the
customer."We
do extensification and intensification in the opening service office,"
said Director of BNI Syariah, Dinno Indiano Milad between the two banks
were in the East Plaza Senayan Jakarta on Sunday.At
the end of 2012,
- PT BNI Syariah target has more than 140 offices service until the end
of 2012 to realize the commitment of Islamic banks is close to the
customer."We
do extensification and intensification in the opening service office,"
said Director of BNI Syariah, Dinno Indiano Milad between the two banks
were in the East Plaza Senayan Jakarta on Sunday.At
the end of 2012,
INDONESIA - BANKING - BI tightens sanctions on Islamic banks for violations fit and proper test
www.bisnis.com - JAKARTA:
Bank Indonesia to tighten sanctions on the Islamic banks and Islamic
business units related offenses committed in the implementation of a fit
and proper test for prospective directors, commissioners, and the
controlling shareholder.It
is stipulated in Bank Indonesia 14/6/PBI/2012 number of fit and proper
test and Islamic Banking Sharia is valid from June 18
Bank Indonesia to tighten sanctions on the Islamic banks and Islamic
business units related offenses committed in the implementation of a fit
and proper test for prospective directors, commissioners, and the
controlling shareholder.It
is stipulated in Bank Indonesia 14/6/PBI/2012 number of fit and proper
test and Islamic Banking Sharia is valid from June 18
MALAYSIA - BANKING - CIMB takes aim at Goldman, JPMorgan
www.btimes.com.my - CIMB Group Holdings Bhd, Southeast Asia’s top-ranked investment bank
over the past three years, is taking aim at a bigger market following
its acquisition of some of Royal Bank of Scotland Group Plc’s operations
in Asia.
The Malaysian company can now compete with rivals including Goldman
Sachs Group Inc and JPMorgan Chase & Co for Asia- Pacific deals,
Chief Executive
over the past three years, is taking aim at a bigger market following
its acquisition of some of Royal Bank of Scotland Group Plc’s operations
in Asia.
The Malaysian company can now compete with rivals including Goldman
Sachs Group Inc and JPMorgan Chase & Co for Asia- Pacific deals,
Chief Executive
MALAYSIA - BANKING - Malaysia May Liberalize Banking Sector
www.thejakartaglobe.com - Malaysia, the third-biggest economy in Southeast Asia, is considering
opening up its banking system to foreign investors, a move seen by
analysts as part of the country’s efforts to expedite integration into
the so-called Asean Community in 2015. Zeti Akhtar Aziz,
governor of Bank Negara Malaysia, that nation’s central bank, said the
country was preparing new
opening up its banking system to foreign investors, a move seen by
analysts as part of the country’s efforts to expedite integration into
the so-called Asean Community in 2015. Zeti Akhtar Aziz,
governor of Bank Negara Malaysia, that nation’s central bank, said the
country was preparing new
MALAYSIA - BANKING - Maybank IB downgrades BIMB to 'sell'
www.btimes.com.my -Maybank IB Research has downgraded BIMB Holdings Bhd to "sell" from
"buy"’ as it sees the recent run-up in the Islamic financial
institution’s share price as excessive.
“Much as we continue to view Bank Islam’s and Syarikat Takaful
Malaysia Bhd’s (BIMB’s units) prospects positively, the recent run-up in
BIMB’s share price is cause to pause and take stock,” the research
"buy"’ as it sees the recent run-up in the Islamic financial
institution’s share price as excessive.
“Much as we continue to view Bank Islam’s and Syarikat Takaful
Malaysia Bhd’s (BIMB’s units) prospects positively, the recent run-up in
BIMB’s share price is cause to pause and take stock,” the research
Sabtu, 23 Juni 2012
INDONESIA - EVENTS - Intl Conference Islamic Capital Markets Jakarta
PRESS RELEASE
INTERNATIONAL CONFERENCE ON ISLAMIC CAPITAL MARKET IN 2012
"Toward Resilient, Robust, and Competitive Islamic Capital Markets"
Jakarta, 19-20 June 2012
I. International Conference on Islamic Capital MarketA. International
Conference on Islamic Capital Market in 2012 was held in cooperation
between the Capital Market Supervisory Agency and Financial Institution
Supervisory Agency
INTERNATIONAL CONFERENCE ON ISLAMIC CAPITAL MARKET IN 2012
"Toward Resilient, Robust, and Competitive Islamic Capital Markets"
Jakarta, 19-20 June 2012
I. International Conference on Islamic Capital MarketA. International
Conference on Islamic Capital Market in 2012 was held in cooperation
between the Capital Market Supervisory Agency and Financial Institution
Supervisory Agency
INDONESIA - CAPITAL MARKETS - Trisula International added to DES
2012 June Bapepam Trisula
Source: http://www.bapepam.go.id/pasar_modal/publikasi_pm/siaran_pers_pm/2012/efek_syariah/Kep-338-2012.pdf- June 20, 2012
Source: http://www.bapepam.go.id/pasar_modal/publikasi_pm/siaran_pers_pm/2012/efek_syariah/Kep-338-2012.pdf- June 20, 2012
INDONESIA - CAPITAL MARKETS - Indosat raises bonds and sukuk issuance to Rp 3 trillion
2012 June Indosat
Source: http://www.indosat.com/template/media/editor/files/Release%20%28Isat%20Menerbitkan%20Obl%20&%20Sukuk%20Baru%2020%20Jun%20-%20IND%29.pdf - June 20, 2012
Source: http://www.indosat.com/template/media/editor/files/Release%20%28Isat%20Menerbitkan%20Obl%20&%20Sukuk%20Baru%2020%20Jun%20-%20IND%29.pdf - June 20, 2012
INDONESIA - CAPITAL MARKETS - Government to Issue Sukuk Project Rp 1.5 Trillion in 2013
www.ibpa.co.id - JAKARTA
(IFT) - The government plans to issue sukuk project (project financing
sukuk) Rp 1.5 trillion in 2013 to finance an infrastructure project. Dedy
Supriyadi Priyatna, Deputy of Infrastructure Ministry of National
Development Planning, said the proceeds from the issuance of sukuk to
finance the construction of double track railway project Cirebon along
the 158
(IFT) - The government plans to issue sukuk project (project financing
sukuk) Rp 1.5 trillion in 2013 to finance an infrastructure project. Dedy
Supriyadi Priyatna, Deputy of Infrastructure Ministry of National
Development Planning, said the proceeds from the issuance of sukuk to
finance the construction of double track railway project Cirebon along
the 158
INDONESIA - CAPITAL MARKETS - Indosat raises value bonds to Rp 3 trillion
www.ibpa.co.id - JAKARTA
(IFT) - PT Indosat Tbk (ISAT), the issuer's telecommunications, decided
to increase the nominal value of bonds and sukuk ijara of Rp 2.5
trillion to Rp 3 trillion. The addition was made, after the book building process of his year, the company accepts reservations up to Rp 3.7 trillion.Indosat
in the site on Wednesday, ordering Rp 3.7 trillion mentioned this is
the
(IFT) - PT Indosat Tbk (ISAT), the issuer's telecommunications, decided
to increase the nominal value of bonds and sukuk ijara of Rp 2.5
trillion to Rp 3 trillion. The addition was made, after the book building process of his year, the company accepts reservations up to Rp 3.7 trillion.Indosat
in the site on Wednesday, ordering Rp 3.7 trillion mentioned this is
the
WORLD - REPORTS - Deloit : Empowering Risk Intelligence in Islamic Finance Managing risk in uncertain times
www.bi-me.com - SAUDI ARABIA. A Deloitte Middle East Islamic Finance Knowledge Center
(IFKC) report, entitled ‘Empowering Risk Intelligence in Islamic
Finance’, addresses and investigates the important issues in practice
and regulation in Islamic Finance in the current market challenges.
The report also assesses the impact of Islamic Financial Institutions
in different countries,
(IFKC) report, entitled ‘Empowering Risk Intelligence in Islamic
Finance’, addresses and investigates the important issues in practice
and regulation in Islamic Finance in the current market challenges.
The report also assesses the impact of Islamic Financial Institutions
in different countries,
INDONESIA - CAPITAL MARKETS - Indosat issues Rp 3 trillion bonds and Rp 300 billion Sukuk Ijara
www.bisnis.com - JAKARTA
- PT Indosat Tbk, the issuer of telecommunications service providers,
increase the value of total debt from Rp2, 5 trillion to Rp3 trillion,
following a number of bond orders in the process of book building some
time ago.As announced on its website, ordering bonds surpassed Rp3, 7 trillion. This amount is claimed to be the biggest book publishing is done by
- PT Indosat Tbk, the issuer of telecommunications service providers,
increase the value of total debt from Rp2, 5 trillion to Rp3 trillion,
following a number of bond orders in the process of book building some
time ago.As announced on its website, ordering bonds surpassed Rp3, 7 trillion. This amount is claimed to be the biggest book publishing is done by
INDONESIA - CAPITAL MARKETS - Indosat lowers expectations Sukuk Ijara down from Rp 500 billion to Rp 300 billion
www.bisnis.com - JAKARTA:
PT Indosat Tbk, the issuer of telecommunications service providers,
lowering the value of Sukuk Ijarah Indosat V from Rp500 billion to Rp300
billion. Instead,
the plan offers Bonds VIII rationed only Rp2 trillion up to Rp2, 7
trillion, because the number of subscribers in the process of book
building.According to the Public Relations Division Head, Adrian Prasanto,
PT Indosat Tbk, the issuer of telecommunications service providers,
lowering the value of Sukuk Ijarah Indosat V from Rp500 billion to Rp300
billion. Instead,
the plan offers Bonds VIII rationed only Rp2 trillion up to Rp2, 7
trillion, because the number of subscribers in the process of book
building.According to the Public Relations Division Head, Adrian Prasanto,
INDONESIA - RATNGS - Pefindo rates Indosat Sukuk Ijara
www.indosat.com - Pefindo Publishes Rating 'id AA +' (Double A Plus) for Indosat Bonds VIII 2012 and 'id AA + (sy)' (Double A Plus Sharia) for Indosat Sukuk Ijarah V Year 2012
Jakarta, June 18, 2012 - PT Indosat Tbk ("Indosat") announced today that Pefindo has assigned a rating 'id AA +' (Double A Plus) and 'id AA + (sy)' (Double A Plus Sharia) for each - each Indosat Bonds VIII 2012 and
Jakarta, June 18, 2012 - PT Indosat Tbk ("Indosat") announced today that Pefindo has assigned a rating 'id AA +' (Double A Plus) and 'id AA + (sy)' (Double A Plus Sharia) for each - each Indosat Bonds VIII 2012 and
INDONESIA - RATINGS - Bank Syariah Mandiri Tbk.
www.pefindo.com - PEFINDO assigned its “idAA+” rating to PT Bank Syariah Mandiri (BSRM or the Bank) with a ‘stable’ outlook. The rating reflects very strong support from PT Bank Mandiri (Persero) Tbk (Bank Mandiri or BMRI, rated idAAA/Stable), very strong position in sharia banking segment, and improving asset quality indicators. However, the rating is constrained by the Bank’s moderate
Jumat, 22 Juni 2012
WORLD - RATNGS - Fitch affirms Islamic Development Bank
www.reuters.com - Fitch Ratings has affirmed the Islamic Development Bank's (IsDB)
Long-term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and
Short-term IDR at 'F1+'.
IsDB's ratings are underpinned by strong intrinsic features, primarily by
excellent capitalisation. IsDB is one of the most highly capitalised
multilateral development banks (MDBs) covered by Fitch. The ratio of
Long-term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and
Short-term IDR at 'F1+'.
IsDB's ratings are underpinned by strong intrinsic features, primarily by
excellent capitalisation. IsDB is one of the most highly capitalised
multilateral development banks (MDBs) covered by Fitch. The ratio of
MALAYSIA - BANKING - Al-Rajhi bank unveils Commodity Murabahah
www.btimes.com.my - Al Rajhi Bank Malaysia on Monday introduced Collateralised Commodity
Murabahah-i (CCM-i) as a new instrument for its Treasury use and is
pleased to be the first Islamic financial institution to adopt such
instrument in managing its daily money market transactions. The
announcement was made at their Kuantan Branch launching ceremony which
was graced by YAB Dato’ Seri
Murabahah-i (CCM-i) as a new instrument for its Treasury use and is
pleased to be the first Islamic financial institution to adopt such
instrument in managing its daily money market transactions. The
announcement was made at their Kuantan Branch launching ceremony which
was graced by YAB Dato’ Seri
INDONESIA - CAPITAL MARKETS - Indonesia to sell US$106.4-M Islamic Bond
www.livetradingnews.com -Indonesia is scheduled to sell sovereign Islamic bond on 26 June at
indicative value of 1-T Rupiah (about US$106.4-M), aiming at financing
the state budget this year, a statement released by the financial
ministry said Wednesday.
The sale of the Islamic bond would be conducted through auction
basis, to sell 4 series of the bond, maturing from Y’s 2018 to 2037 and
indicative value of 1-T Rupiah (about US$106.4-M), aiming at financing
the state budget this year, a statement released by the financial
ministry said Wednesday.
The sale of the Islamic bond would be conducted through auction
basis, to sell 4 series of the bond, maturing from Y’s 2018 to 2037 and
Rabu, 20 Juni 2012
MALAYSIA - FINANCE - Malaysia revises Islamic equity standards
www.reuters.com - (Reuters) - Malaysia's securities commission
is revising its guidelines for equities which qualify for
Islamic investment, in a move that could increase the appeal of
the country's sharia-compliant funds industry to Gulf investors.
Under the previous standards, investment was banned or
restricted in companies that were involved in industries deemed
to be unethical, such as
is revising its guidelines for equities which qualify for
Islamic investment, in a move that could increase the appeal of
the country's sharia-compliant funds industry to Gulf investors.
Under the previous standards, investment was banned or
restricted in companies that were involved in industries deemed
to be unethical, such as
MALAYSIA - CAPITAL MARKETS - Malaysia revises Shari’ah screening methodology
www.cpifinancial.net - The Shari’ah Advisory Council (SAC) of the Securities Commission Malaysia (SC) has announced the adoption of a revised screening methodology to determine the Shari’ah-compliant status of listed companies.
In view of the developments and growing sophistication of the Islamic finance industry since the introduction of the current screening methodology in 1995, the SAC has
In view of the developments and growing sophistication of the Islamic finance industry since the introduction of the current screening methodology in 1995, the SAC has
INDONESIA - REGULATIONS - Hadad (MES) choosen as head OJK
www.kontan.co.id - JAKARTA. All members of the Commission XI of the House of Representatives (DPR) has selected unanimously Muliaman D. Hadad as Chairman of the Board of Commissioners the Financial Services Authority (OJK DK). Hadad
was elected unanimously by the 52 members of the House Commission XI
meeting following the election of a chairman and a member of DK OJK.A total of nine factions to
was elected unanimously by the 52 members of the House Commission XI
meeting following the election of a chairman and a member of DK OJK.A total of nine factions to
INDONESIA - BANKING - Permata Syariah seeks 100 branch in Kedoya
www.bisnis.com - JAKARTA: PT Bank Permata Tbk invest Rp1, 5 billion in order to open a branch office in the new Sharia unit Kedoya, West Jakarta. Head of Bank Permata Syariah Ahmad K. Permana revealed through the branches of the company is optimistic to get 100 billion funds under management in the first year. As for financing, following the custom during this entire process will be conducted
INDONESIA - REGULATIONS - Comments on this Islamic Banking Commissioner OJK
WWW.REPUBLIKA.CO.ID, JAKARTA - Director of Compliance and Risk Management of Bank Muamalat, Andi Buchari, expect the new Board of Commissioners OJK can help the progress of Islamic banking. "Indonesia Sharia Bank Association already advises the OJK to participate in making policies that promote Islamic banking," said Andi, Wednesday (20/6). (source)
Andi has been chosen to believe that a person
Andi has been chosen to believe that a person
INDONESIA - CAPITAL MARKETS - Government Auction Sukuk Rp1 Trillion
www.investor.co.id - JAKARTA
- The government will sell securities in Islamic countries (SBSN) or
sukuk countries through an auction on June 26, 2012 with a total
indicative Rp1 trillion.Written
statement of the Directorate General of Debt Management, Ministry of
Finance on Wednesday, said the sukuk sale of the country to meet part of
the national budget financing target in 2012.There are
- The government will sell securities in Islamic countries (SBSN) or
sukuk countries through an auction on June 26, 2012 with a total
indicative Rp1 trillion.Written
statement of the Directorate General of Debt Management, Ministry of
Finance on Wednesday, said the sukuk sale of the country to meet part of
the national budget financing target in 2012.There are
INDONESIA - BANKING - BNI SHARIA: Expand Services, Open Office In Tasikmalaya
www.bisnis.com - Tasikmalaya
- BNI Syariah ready to Tasikmalaya expansion of business networks to
expand the reach of Islamic financial services in areas that have the
potential customer base.The
inauguration was attended by the mayor's office Tasikmalaya Sharif
Hidayat, Director of Operations Zunaedi Hisam BNI on Tuesday (19/6)
located in The City Road Tasikmalaya.Director
of BNI Zunaedi
- BNI Syariah ready to Tasikmalaya expansion of business networks to
expand the reach of Islamic financial services in areas that have the
potential customer base.The
inauguration was attended by the mayor's office Tasikmalaya Sharif
Hidayat, Director of Operations Zunaedi Hisam BNI on Tuesday (19/6)
located in The City Road Tasikmalaya.Director
of BNI Zunaedi
INDONESIA - FINANCE - HAJJ FUND drawn Affairs, Islamic Banking Performance immediately dropped
www.bisnis.com - JAKARTA:
Withdrawal of funds by the Ministry of Religious pilgrimage to be one
major factor weakening the performance of Islamic banking industry
during April.A
source of Business in an Islamic bank in the know said the weaker
performance of Islamic banks because the funds withdrawn Hajj then
transferred to the instrument sukuk"It came out trillions and must be replaced to
Withdrawal of funds by the Ministry of Religious pilgrimage to be one
major factor weakening the performance of Islamic banking industry
during April.A
source of Business in an Islamic bank in the know said the weaker
performance of Islamic banks because the funds withdrawn Hajj then
transferred to the instrument sukuk"It came out trillions and must be replaced to
INDONESIA - CAPITAL MARKETS - So Muamalat Rp800 Billion Increase Value of Sukuk
www.bisnis.com - JAKARTA:
Indonesia Tbk, PT Bank Muamalat increase the value of emissions from
the subordinated sukuk plans Rp500 billion to Rp800 beginning billion,
as strong demand from investorsHendiarto,
Director of Finance and Operations Bank Muamalat, said the incoming
requests from investors to the sukuk subordination (subdebt) of Phase I
reach Rp1, 13 trillion, much higher than the
Indonesia Tbk, PT Bank Muamalat increase the value of emissions from
the subordinated sukuk plans Rp500 billion to Rp800 beginning billion,
as strong demand from investorsHendiarto,
Director of Finance and Operations Bank Muamalat, said the incoming
requests from investors to the sukuk subordination (subdebt) of Phase I
reach Rp1, 13 trillion, much higher than the
INDONESIA - CAPITAL MARKETS - Muamalat: Measures to be Rp800 billion, for the 10.125%
www.bisnis.com - JAKARTA:
Indonesia Tbk, PT Bank Muamalat increase the value of emissions from
the subordinated sukuk plans Rp500 billion to Rp800 beginning billion,
as strong demand from investors.Hendiarto,
Director of Finance and Operations Bank Muamalat, said the incoming
requests from investors to the sukuk subordination (subdebt) of Phase I
reach Rp1, 13 trillion, much higher than the
Indonesia Tbk, PT Bank Muamalat increase the value of emissions from
the subordinated sukuk plans Rp500 billion to Rp800 beginning billion,
as strong demand from investors.Hendiarto,
Director of Finance and Operations Bank Muamalat, said the incoming
requests from investors to the sukuk subordination (subdebt) of Phase I
reach Rp1, 13 trillion, much higher than the
Senin, 18 Juni 2012
INDONESIA - BANKING - BNI Syariah Distributes Franchise Financing Rp 45 Billion
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Negara Indonesia (BNI) Syariah finance franchise record of Rp 45 billion. Outstanding is obtained within one year of service franchise financing. "New year BNI Syariah into this financing," said Executive Vice President of BNI Syariah, Strong Rahardjo, Monday (18/6). But BNI Syariah itself does not have a specific product to deliver franchise financing. In
INDONESIA - BANKING -Fitch: New Rules to Boost Indonesian Consumer-Loan Asset Quality
www.theindonesiatoday.com - JAKARTA, Indonesia Today
- New consumer finance rules in Indonesia that cap the maximum
loan-to-value on auto loans and mortgages are likely to improve
underwriting quality and slow lending growth, says Fitch Ratings.
The impact will be felt mainly on non-bank finance companies, which are more active than banks in higher-risk lending.
The consumer finance
- New consumer finance rules in Indonesia that cap the maximum
loan-to-value on auto loans and mortgages are likely to improve
underwriting quality and slow lending growth, says Fitch Ratings.
The impact will be felt mainly on non-bank finance companies, which are more active than banks in higher-risk lending.
The consumer finance
Jumat, 15 Juni 2012
INDONESIA - BANKING - 36 Percent of Customers non-Muslim Permata Shariah
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Syariah gems prove ourselves to grow as a universal bank.Although
the use of sharia-based banking system, Shariah gems could invite
non-Muslim community in Indonesia to invest in the bank.This was shown with the Shariah Bank Permata client presentation. Approximately 36 percent of the customers come from among non-Muslims. Although still dominated by Muslim
the use of sharia-based banking system, Shariah gems could invite
non-Muslim community in Indonesia to invest in the bank.This was shown with the Shariah Bank Permata client presentation. Approximately 36 percent of the customers come from among non-Muslims. Although still dominated by Muslim
INDONESIA - BANKING - Bank profits rose 314% Permata Sharia
www.kontan.co.id - JAKARTA. Jewels
Islamic Bank profit up to the first quarter of 2012 surged by 314% to $
58.5 billion compared to same period last year amounted to Rp 14.1
billion. This growth is in line with operational performance improvement Permata Bank Syariah until March 2012.Operating
income rose 310% to $ 59.6 billion in the first quarter of 2012 driven
by growth in net margin
Islamic Bank profit up to the first quarter of 2012 surged by 314% to $
58.5 billion compared to same period last year amounted to Rp 14.1
billion. This growth is in line with operational performance improvement Permata Bank Syariah until March 2012.Operating
income rose 310% to $ 59.6 billion in the first quarter of 2012 driven
by growth in net margin
INDONESIA - REGULATIONS - BI to Strictly Select Foreign Investor in Controlling Local Bank Read more: Latest News | BI to Strictly Select Foreign Investor in Controlling Local Bank
www.theindonesiatoday.com -JAKARTA, Indonesia Today - Central bank, Bank Indonesia
(BI), will not only restrict the ownership in banks with certain good
corporate governance (GCG) standars, but also strictly select the
foreign investors in controlling the local bank, Bisnis.com reported.
Mulya Siregar, executive director for banking research and management
department at Bank Indonesia, told
(BI), will not only restrict the ownership in banks with certain good
corporate governance (GCG) standars, but also strictly select the
foreign investors in controlling the local bank, Bisnis.com reported.
Mulya Siregar, executive director for banking research and management
department at Bank Indonesia, told
SINGAPORE - ARTICLE - Is There Room for Singapore to be an Islamic Finance Hub?
www.businessislamica.com - Islamic finance was marked with exponential developments globally
over the three last decades, spurring enormous demand for
Shari’ah-compliant schemes. Although relatively new, Islamic finance
has, ever since inception in the late 1960s (Halabi. et.al. 2004),
proven to be one of the fastest growing elements of the global financial
system. According to the Global
over the three last decades, spurring enormous demand for
Shari’ah-compliant schemes. Although relatively new, Islamic finance
has, ever since inception in the late 1960s (Halabi. et.al. 2004),
proven to be one of the fastest growing elements of the global financial
system. According to the Global
INDONESIA - CAPITAL MARKETS - SUKUK GLOBAL: Fitri plan published after 2012
www.bisnis.com - JAKARTA: The government plans to issue Sharia Government Securities (sukuk) around global III/2012 quarter or after the Hari Raya holiday. Waluyanto, Director General of Debt Management, Ministry of Finance, said that while the European crisis has not abated, but the issuance of global sukuk Samurai Bond and still according to plan. "Still on schedule, that's a crisis in Europe.
INDONESIA - CAPITAL MARKETS - Indonesia Mulls $1bIslamic Bond Sale in Q3
www.thejakartaglobe.com - The government may offer as much as $1 billion worth of
dollar-denominated Islamic bonds in the third quarter this year in a bid
to finance its budget deficit, a senior official said. Rahmat
Waluyanto, director of the Finance Ministry’s general debt management
office, said the Islamic bond sale would be conducted after the Idul
Fitri holiday, which marks the end of
dollar-denominated Islamic bonds in the third quarter this year in a bid
to finance its budget deficit, a senior official said. Rahmat
Waluyanto, director of the Finance Ministry’s general debt management
office, said the Islamic bond sale would be conducted after the Idul
Fitri holiday, which marks the end of
Kamis, 14 Juni 2012
INDONESIA - BANKING - Open Savings Griya BNI Syariah, will you?
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Negara Indonesia (BNI) Syariah introduce new products in the TVC, the Savings Encyclopedia. These savings provide services to clients who want to save for home financing.Shortage of customers for this is the weakness of the down payment when they wanted to buy a house. The percentage of down payment is high enough to make customers take a long time just to
INDONESIA - BANKING - BNI Syariah BPR Syariah be coupled
WWW.REPUBLIKA.CO.ID, JAKARTA - BNI Syariah plan to extend the wings by working with rural banks (BPR). But BNI Syariah will have the ACA is also in accordance with sharia as his partner. President Dinno Indiano said BNI Syariah, the front of BNI BNI Syariah will emulate conventional to cooperate with the ACA. However, non-conventional ACA to be incaran BNI Syariah, unless the Agency to base
INDONESIA - CAPITAL MARKETS - Auction results Sovereign Sukuk
www.bi.go.id - On this day, Tuesday, June 12, 2012, has conducted auctions State Sharia Securities (SBSN) or State Sukuk series SPN-S 13,122,012 (new issuance), PBS001 (reopening), PBS002 (reopening), PBS003 (reopening), and PBS004 (reopening) through the auction of Bank Indonesia. In accordance with the authority granted by Law No. 19 Year 2008 on State Sharia Securities, then the auction
INDONESIA - BANKING - BJB Syariah Riawan Amin : Islamic banks should Synergize with Parent
WWW.REPUBLIKA.CO.ID, JAKARTA - In order to develop properly, Islamic banks need a synergy with its parent company. This synergy can be done through infrastructure and third party funds."What
we want now is how to spend the capital as soon as possible," said
Managing Director of Bank Jabar Banten Sharia (BJBS), A Riawan Amin,
after a speaker in the National Symposium on Gold-based monetary
we want now is how to spend the capital as soon as possible," said
Managing Director of Bank Jabar Banten Sharia (BJBS), A Riawan Amin,
after a speaker in the National Symposium on Gold-based monetary
INDONESIA - BANKING - Muamalat: Pension Fund of Funds under management reached Rp329, 95 billion
www.bisnis.com - JAKARTA: The total investment fund Pension Fund Indonesia Tbk, PT Bank Muamalat reach Rp329, 95 billion in 2011, grew 23.62% from Rp266, 89 billion a year earlier. Based on the financial report published today (12/6), DPLK Muamalat allocate the majority of investment funds on deposit portfolio amounting to Rp279, 10 billion (84.58%). The remaining portfolio of mutual funds of
MALAYSIA - TAKAFUL - Malaysia's Contribution To Global Takaful Industry To Increase To US$2.4 Billion
www.bernama.com - KUALA LUMPUR, June 13 (Bernama) -- Malaysia's contribution to the
global Takaful industry is expected to increase to US$2.4 billion this
year from US$1.4 billion in 2011.
Ernst and Young Partner (Assurance) Brandon Bruce Sta Maria said the
estimation was based on expectations that the industry's growth trend
would be sustained for the next two years.
"Malaysia's market
global Takaful industry is expected to increase to US$2.4 billion this
year from US$1.4 billion in 2011.
Ernst and Young Partner (Assurance) Brandon Bruce Sta Maria said the
estimation was based on expectations that the industry's growth trend
would be sustained for the next two years.
"Malaysia's market
INDONESIA - BANKING - Banks ‘held hostage’ by big depositors: Bank Indonesia
www.thejakartapost.com - Bank Indonesia (BI) has uncovered worrying evidence that the country’s
banks are being held hostage by their big clients, preventing them from
lowering their interest rates in line with the central bank’s low
interest-rate policy. BI Governor Darmin Nasution said that
based on the central bank’s survey, most banks could not cut their
interest rates to an affordable
banks are being held hostage by their big clients, preventing them from
lowering their interest rates in line with the central bank’s low
interest-rate policy. BI Governor Darmin Nasution said that
based on the central bank’s survey, most banks could not cut their
interest rates to an affordable
Selasa, 12 Juni 2012
INDONESIA - CAPITAL MARKETS - Indonesia raises 800bn rupiah sukuk, yield falls
www.brecorder.com - JAKARTA: Indonesia's government raised 800 billion rupiah ($85.06
million) of project-based sukuk in an auction on Wednesday, slightly
below its target, the finance ministry said.The six-year project-based
sukuk was at a yield of 5.92188 percent, down from 6.14266 percent in an
auction last month, belying a recent trend of rising yields in
government debt auctions amid
million) of project-based sukuk in an auction on Wednesday, slightly
below its target, the finance ministry said.The six-year project-based
sukuk was at a yield of 5.92188 percent, down from 6.14266 percent in an
auction last month, belying a recent trend of rising yields in
government debt auctions amid
Senin, 11 Juni 2012
WORLD - SURVEY - 2012 Global Muslim Lifestyle Travel Market SURVEY
Click here to launch the survey
Purpose: The purpose of this survey is to develop a
fact-based voice of the Muslim leisure travelers needs and satisfaction
levels. The study will help guide hotels, airlines, and travel
destinations to better cater to Muslim travelers.
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Minggu, 10 Juni 2012
INDONESIA - REGULATIONS - BI-term review of the rules of Islamic forex
www.bisnis.com - JAKARTA:
Bank Indonesia is conducting a study to create a kind of instrument
placement of foreign currency deposits for Islamic banking.Difi A. Johansyah,
Director of Public Relations Group of Bank Indonesia (BI), said the
central bank's Monetary Management Department is conducting studies to
instrument placement deposits (term deposits) of foreign exchange which
currently
Bank Indonesia is conducting a study to create a kind of instrument
placement of foreign currency deposits for Islamic banking.Difi A. Johansyah,
Director of Public Relations Group of Bank Indonesia (BI), said the
central bank's Monetary Management Department is conducting studies to
instrument placement deposits (term deposits) of foreign exchange which
currently
Sabtu, 09 Juni 2012
INDONESIA - CAPITAL MARKETS - Demand for Local Sukuk ‘Excessive’ With More Likely Ahead, Official Says
www.thejakartaglobe.com -Surabaya. The government has issued Rp
120 trillion ($12.8 billion) in Islamic bonds during the past four
years, which the Finance Ministry attributes to an “excessive” demand
for them among Muslim investors. The ministry’s director for
Shariah financing, Dahlan Siamat, said the government issued its first
Islamic bond, known as sukuk, in 2008, and as of Thursday it
Jumat, 08 Juni 2012
INDONESIA - CAPITAL MARKETS - Government Issuing Sukuk Haji Rp2, 5 trillion
www.investor.co.id - AKARTA
- The government issued securities sharia state (SBSN) or state sukuk
SDHI 2018 A series of Rp2, 5 trillion to meet part of the 2012 state
budget targets.Written
statement of the Directorate General of Debt Management, Ministry of
Finance received Antara here on Thursday, citing a 2018 publication SDHI
was done through the placement of Haji Fund administered by
- The government issued securities sharia state (SBSN) or state sukuk
SDHI 2018 A series of Rp2, 5 trillion to meet part of the 2012 state
budget targets.Written
statement of the Directorate General of Debt Management, Ministry of
Finance received Antara here on Thursday, citing a 2018 publication SDHI
was done through the placement of Haji Fund administered by
INDONESIA - FINANCE - 96 % of 1997 bail out funds disappeared - Bank Indonesia Bailout Scandal Fugitive Arrested in US
www.thejakartaglobe.com - A fugitive in the high-profile Bank Indonesia bailout case has been
arrested in San Fransisco, California, after a decade on the run, the
Indonesian police said in Jakarta on Friday.It is not clear yet
when the arrest was made, but Sherny Kojongian, 49, a former director
with Bank Harapan Sentosa (BHS), is expected to arrive in Jakarta on
June 13.“She will be
arrested in San Fransisco, California, after a decade on the run, the
Indonesian police said in Jakarta on Friday.It is not clear yet
when the arrest was made, but Sherny Kojongian, 49, a former director
with Bank Harapan Sentosa (BHS), is expected to arrive in Jakarta on
June 13.“She will be
MALAYSIA - PUBLICATIONS - IMF Working Paper 12-151 - What's in it for me ?
www.inf.org
What’s in It for Me? A Primer on Differences between Islamic and Conventional Finance in Malaysia
Krasicka, Olga ; Nowak, Sylwia
IMF Working Papers - June 2012 - 12/151
Summary: What
attracts conventional investors to Islamic financial instruments? We
answer this question by comparing Malaysian Islamic and conventional
security prices and their response to macrofinancial
What’s in It for Me? A Primer on Differences between Islamic and Conventional Finance in Malaysia
Krasicka, Olga ; Nowak, Sylwia
IMF Working Papers - June 2012 - 12/151
Summary: What
attracts conventional investors to Islamic financial instruments? We
answer this question by comparing Malaysian Islamic and conventional
security prices and their response to macrofinancial
INDONESIA - CAPITAL MARKETS - Adhi Karya issues Rp 750b bonds
www.thejakartapost.com - JAKARTA: Publicly listed construction company PT Adhi Karya is seeking
Rp 750 billion (US$80 million) from issuing conventional and Islamic
bonds with high coupon rates ranging between 9 and 10.5 percent.The
company is offering Rp 625 billion in conventional bonds, which are
divided into two series. The A series, which will account for Rp 375
billion and will mature
Rp 750 billion (US$80 million) from issuing conventional and Islamic
bonds with high coupon rates ranging between 9 and 10.5 percent.The
company is offering Rp 625 billion in conventional bonds, which are
divided into two series. The A series, which will account for Rp 375
billion and will mature
SINGAPORE - SPEECHES - WIBC Singapore 2012
The Next Phase in Islamic Finance
Ravi Menon
Managing Director, Monetary Authority of Singapore
Opening Address at the 3rd Annual World Islamic Banking Conference: Asia Summit
Grant Hyatt Singapore
5 June 2012
Dr Ahmad Mohamed Ali Al-Madani, President, Islamic Development Bank,
Your Excellencies, distinguished guests, ladies and gentlemen, good morning.
And to all our foreign guests, a
INDONESIA - CLIPS - BIFIS 2012 Bandung (AmilinTV - 4 clips)
Exclusive Interview - A. Riawan / Rushdi Siddiqui / Sheikh Nizam Yakubi / Ahmad Heryawan
Event: Bandung Islamic Finance and Investment Smbmit 2012
Venue: Grand Royal Panghegar Bandung, Indonesia
Date: 29th - 30th May 2012
Exclusive Interview - Rushdi Siddiqui
Exclusive Interview - Sheikh Nizam Yakubi
Exclusive Interview - Ahmad Heryawan Governor West-Java
Event: Bandung Islamic Finance and Investment Smbmit 2012
Venue: Grand Royal Panghegar Bandung, Indonesia
Date: 29th - 30th May 2012
Exclusive Interview - Rushdi Siddiqui
Exclusive Interview - Sheikh Nizam Yakubi
Exclusive Interview - Ahmad Heryawan Governor West-Java
Kamis, 07 Juni 2012
SINGAPORE - EVENTS - Islamic banks 'can fill funding gap': S’pore Monetary Authority
www.thejakartaglobe.com -Islamic banks are priming themselves to capture a larger share
of the global trade and project financing market, as European banks pull
back funds to mend balance sheets back home.
The Monetary
Authority of Singapore's (MAS) managing director Ravi Menon noted on
Tuesday that trade and infrastructure development is naturally
compatible with Islamic finance, which has
of the global trade and project financing market, as European banks pull
back funds to mend balance sheets back home.
The Monetary
Authority of Singapore's (MAS) managing director Ravi Menon noted on
Tuesday that trade and infrastructure development is naturally
compatible with Islamic finance, which has
INDONESIA - CAPITAL MARKETS - Government Sukuk Tebitkan Haji Rp2, 5 T
www.neraca.co.id - Jakarta-The government re-issued securities in Islamic countries (SBSN) or state sukuk SDHI series 2018 A senlai Rp2, 5 triliun.Penerbitan Haji Indonesia Sukuk Fund (SDHI) 2018A is done through the placement of Haji Fund administered by the Ministry of Religious Affairs on the sukuk. According to the Directorate General of Debt Management, Ministry of Finance in Jakarta. The
WORLD - INDEX - Changes Made To Dow Jones Islamic Market Indexes
www.djindexes.com -Changes Follow Regular Annual Review - LONDON (7 June 2012) – Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual review of the Dow Jones Islamic Market Titans 100 Index
and its three subindexes, Dow Jones Islamic Market U.S. Titans 50
Index, Dow Jones Islamic Market Asia/Pacific Titans 25 Index and Dow
Jones Islamic Market
and its three subindexes, Dow Jones Islamic Market U.S. Titans 50
Index, Dow Jones Islamic Market Asia/Pacific Titans 25 Index and Dow
Jones Islamic Market
INDONESIA - CAPITAL MARKETS - SADHI KARYA Bonds offered at 9-10.5 %
www.bisnis.com - JAKARTA: State-owned construction company PT Adhi Karya Tbk offer coupon bonds and sukuk in the range of 9% - 10.5%.
Director of PT Danareksa Sekuritas Sincere Nababan said the company plans to issue bonds amounting to Rp1 sustainable, 5 trillion.
For the first phase of bonds to be issued sebesars Rp750 billion consisting of conventional bonds and sukuk amounting to Rp625
Director of PT Danareksa Sekuritas Sincere Nababan said the company plans to issue bonds amounting to Rp1 sustainable, 5 trillion.
For the first phase of bonds to be issued sebesars Rp750 billion consisting of conventional bonds and sukuk amounting to Rp625
INDONESIA - HALAL - Indonesia: More imported products declared halal by MUI
www.halalfocus.net - Companies from 37 countries have been granted halal certificates by
the Indonesian Ulema Council (MUI), indicating a growing interest in the
halal product business in Indonesia, said an Indonesian Chamber of
Commerce and Industry (Kadin) executive on Tuesday.
“It is a good sign that Muslims in Indonesia can consume more
imported products, which are safe and in compliance
the Indonesian Ulema Council (MUI), indicating a growing interest in the
halal product business in Indonesia, said an Indonesian Chamber of
Commerce and Industry (Kadin) executive on Tuesday.
“It is a good sign that Muslims in Indonesia can consume more
imported products, which are safe and in compliance
INDONESIA - RATNGS - Adhi Karya (Persero) Tbk.
www.pefindo.com -PEFINDO raised the ratings of PT Adhi Karya (Persero) Tbk. (ADHI or the Company), the Company’s Bonds IV/2007 at “idA” from “idA-” and its Sukuk Mudharabah I/2007 at “idA(sy)” from “idA-(sy)”.
At the same time, PEFINDO also assigned “idA” rating to the proposed
bond “Obligasi Berkelanjutan I Adhi Tahap I tahun 2012” with a maximum
value of IDR1.25 trillion and “idA(sy)”
At the same time, PEFINDO also assigned “idA” rating to the proposed
bond “Obligasi Berkelanjutan I Adhi Tahap I tahun 2012” with a maximum
value of IDR1.25 trillion and “idA(sy)”
INDONESIA - FINANCE - HSBC to Pioneer Islamic Forex Products in Indonesia
www.bloomberg.com -HSBC Amanah will offer Islamic
foreign exchange forwards and cross-currency hedging instruments
in Indonesia starting next month to help Shariah-compliant banks
manage risks arising from currency fluctuations.
“For these two products, we are the first to receive
approval from the central bank,” Herwin Bustaman, HSBC Amanah’s
Indonesia head, said in a telephone interview
foreign exchange forwards and cross-currency hedging instruments
in Indonesia starting next month to help Shariah-compliant banks
manage risks arising from currency fluctuations.
“For these two products, we are the first to receive
approval from the central bank,” Herwin Bustaman, HSBC Amanah’s
Indonesia head, said in a telephone interview
MALAYSIA - FINANCE - Malaysia c.bank to expand new Islamic facility
www.reuters.com - (Reuters) - Malaysia's central bank will
eventually expand its new Islamic money market funding facility
to allow trades of the instrument between commercial banks,
while introducing longer tenors, the central bank said on
Thursday.
The central bank announced last week that it was launching a
collateralised murabaha facility through which Islamic banks
could obtain funds from
eventually expand its new Islamic money market funding facility
to allow trades of the instrument between commercial banks,
while introducing longer tenors, the central bank said on
Thursday.
The central bank announced last week that it was launching a
collateralised murabaha facility through which Islamic banks
could obtain funds from
INDONESIA - CAPITAL MARKETS - Sukuk Sale in Works For End of the Year
www.thejakartaglobe.com - Indonesia will sell dollar-denominated sukuk toward the end of the year,
according to Dahlan Siamat, a director of Islamic financing at the debt
management office, provided it gets approval from the finance minister.
Dahlan declined to disclose the size of the offer, saying on
Monday that “we have figures for the amount in the report we sent to the
finance minister,
according to Dahlan Siamat, a director of Islamic financing at the debt
management office, provided it gets approval from the finance minister.
Dahlan declined to disclose the size of the offer, saying on
Monday that “we have figures for the amount in the report we sent to the
finance minister,
INDONESIA - CAPITAL MARKETS - Indonesia Reports ‘Excessive’ Demand for Sukuk Bonds
www.thejakartaglobe.com -Surabaya. The Indonesian government
has issued Rp 120 trillion ($12.84 billion) in Islamic bonds, better
known as sukuk, over the past four years, which the Finance Ministry
attributes to an "excessive" demand among Muslim investors. The
ministry’s director for Shariah financing, Dahlan Siamat, said the
government issued its first sukuk in 2008, and as of Thursday
Rabu, 06 Juni 2012
INDONESIA - BANKING - Expansion Reaches mortgage BNI Syariah Rp3 T
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Negara Indonesia (BNI) Syariah increase year-end target of financing (mortgage). Target increased from the initial target of Rp200 billion. "We hope to penetrate Rp3 trillion," said Executive Vice President of BNI Syariah, Strong Rahardjo, told Reuters on Wednesday (6/6). Previously set a target of Rp2 BNI Syariah, 8 trillion. This is done considering the
INDONESIA - BANKING - ISLAMIC BANK RULES This golden rule of financing in Islamic banks
www.kontan.co.id - JAKARTA. Bank
Indonesia (BI) has given the green signal for Islamic banks to provide
financing ownership of gold products (PKE) using a murabaha contract
(sale and purchase in installments). However, some rules must be met in order not subject to sanctions when the product is running. What is it?Rules
contained in the SE Number 14/16/DPbS about PKE BI launched late last
Indonesia (BI) has given the green signal for Islamic banks to provide
financing ownership of gold products (PKE) using a murabaha contract
(sale and purchase in installments). However, some rules must be met in order not subject to sanctions when the product is running. What is it?Rules
contained in the SE Number 14/16/DPbS about PKE BI launched late last
INDONESIA - BANKING - Expansion of Foreign Banks in Indonesia Bank Sarasin to open the service in Indonesia
www.kontan.co.id - JAKARTA. Bank Sarasin & Co.. Ltd., began considering a plan to do business in Indonesia. Currently,
a special bank manage customer wealth of at least U.S. $ 2.7 million,
the newly opened representative office in Singapore to attract the rich
in Asia.Renate
Boerner, Marketing Communications Director of Bank Sarasin said it
wanted to open a representative office in Indonesia
a special bank manage customer wealth of at least U.S. $ 2.7 million,
the newly opened representative office in Singapore to attract the rich
in Asia.Renate
Boerner, Marketing Communications Director of Bank Sarasin said it
wanted to open a representative office in Indonesia
INDONESIA - CAPITAL MARKETS - Bank Muamalat Issues Subordinated Sukuk Worth IDR 1.5 Trillion
www.muamalatbank.com - Bank Muamalat Indonesia issues a total of IDR 1,5 trilion Subordinated
Sukuk in Jakarta 5/30, as the Indonesian Islamic banking pioneer aims
to strengthen the capital structure in speeding up business.
The idA(sy) rating is given by PT Pefindo - Credit Rating Indonesia
for this Mudharaba-based subdebt, meanwhile Bank Muamalat was rated
idA+ as the issuer.
Sukuk in Jakarta 5/30, as the Indonesian Islamic banking pioneer aims
to strengthen the capital structure in speeding up business.
The idA(sy) rating is given by PT Pefindo - Credit Rating Indonesia
for this Mudharaba-based subdebt, meanwhile Bank Muamalat was rated
idA+ as the issuer.
INDONESIA - TAKAFUL - Syarikat Takaful may go for M&As to secure bigger market share
www.thestar.com.my -PETALING JAYA: Syarikat Takaful Malaysia Bhd
will focus on its core markets in Malaysia and Indonesia but does not
rule out the possibility of mergers and acquisitions (M&As) in a bid
to have a stronger foothold and a bigger market share in the takaful
business.
Goup managing director Datuk Mohamed Hassan Kamil (pic) told StarBiz the company was now concentrating its
will focus on its core markets in Malaysia and Indonesia but does not
rule out the possibility of mergers and acquisitions (M&As) in a bid
to have a stronger foothold and a bigger market share in the takaful
business.
Goup managing director Datuk Mohamed Hassan Kamil (pic) told StarBiz the company was now concentrating its
MALAYSIA - BANKING - Maybank Islamic reports 50/50 split of Muslim/non Muslim customers
www.cpifinancial.net - Product innovation and knowledge of local market wins over customers of
any religion, according to Maybank Islamic’s CEO, Muzaffar Hisham.
The demographic of Maybank Islamic’s customers is a 50/50 split of Muslims/non Muslims, Hisham revealed to Islamic Business & Finance on the sidelines of the 3rd World Islamic Banking Conference Asia Summit.
“One of the reasons is
any religion, according to Maybank Islamic’s CEO, Muzaffar Hisham.
The demographic of Maybank Islamic’s customers is a 50/50 split of Muslims/non Muslims, Hisham revealed to Islamic Business & Finance on the sidelines of the 3rd World Islamic Banking Conference Asia Summit.
“One of the reasons is
INDONESIA - CAPITAL MARKETS - Indonesia details Sukuk auction for 12 June
www.cpifinancial.net -The Ministry will be selling six-month Shari’ah
T-bills and project-based Sukuk across a range of maturities: six, 10,
15 and 25 years (respectively, 2018, 2022, 2027 and 2037).
Indonesia’s most recent Sukuk auction on 22 May also had an
indicative target of IDR 1 trillion but only raised IDR 550 billion
despite receiving bids totalling IDR 1.42 trillion. Thee country
T-bills and project-based Sukuk across a range of maturities: six, 10,
15 and 25 years (respectively, 2018, 2022, 2027 and 2037).
Indonesia’s most recent Sukuk auction on 22 May also had an
indicative target of IDR 1 trillion but only raised IDR 550 billion
despite receiving bids totalling IDR 1.42 trillion. Thee country
CHINA - INDEX - Component Changes Made to Dow Jones Islamic Market China/Hong Kong Titans 30 Index
www.marketwatch.com -LONDON, Jun 5, 2012 (GlobeNewswire via COMTEX) --
Dow Jones Indexes, a leading global index provider, today announced that
Hong Kong's Alibaba.com Limited will be removed from the Dow Jones
Islamic Market China/Hong Kong Titans 30 Index due to its acquisition by
Alibaba Group Holding Limited.
Alibaba.com Limited will be replaced by
Senin, 04 Juni 2012
THAILAND - OPINION - Closing the gap: the next big step for Islamic banking
www.nationmultimedia.com - Fifteen years ago, Muslims wishing to take out a mortgage, use a
credit card or deposit money into a current account would have been hard
pushed to do so and stay compliant with Shariah law.
With few Islamic banks around - and a limited range of Shariah products
- banking as a Muslim invariably involved compromising either your
faith or your financial needs.
Today,
credit card or deposit money into a current account would have been hard
pushed to do so and stay compliant with Shariah law.
With few Islamic banks around - and a limited range of Shariah products
- banking as a Muslim invariably involved compromising either your
faith or your financial needs.
Today,
MALAYSIA - OPINION - Lost in translation ?
www.cpifinancial.com - It ought to be the Editor of Islamic Business & Finance’s
dream to be sent to Kuala Lumpur, a city whose space-age skyscrapers
house the institutions responsible for developing the world’s most
sophisticated Islamic finance market. However, as I walked its bustling
streets I soon learned that the wonders of Malaysia’s Islamic banking
industry have yet to translate down
dream to be sent to Kuala Lumpur, a city whose space-age skyscrapers
house the institutions responsible for developing the world’s most
sophisticated Islamic finance market. However, as I walked its bustling
streets I soon learned that the wonders of Malaysia’s Islamic banking
industry have yet to translate down
AUSTRALIA - FINANCE - The Australian News Opinion National Affairs Business Aus IT Higher Ed Media Sport Arts Life Magazines Careers Video Business News Opinion Companies Markets Wall Street Journal Economics Mining & Energy Wealth Aviation Financial Services Legal Property Top 50 Login Sign Up Search for: Stock Quotes: Markets Crescent unveils first sharia-compliant fund
www.theaustralian.com.au -MUSLIM Australians will be able to stash their cash with
today's launch of Crescent Wealth's first Islamic cash management trust,
which hopes to attract up to $100 million during the next few years.
Managing director Talal Yassine said he expected much of the
money to come from Australian mosques. "Islamic Australians and
institutions have had little
today's launch of Crescent Wealth's first Islamic cash management trust,
which hopes to attract up to $100 million during the next few years.
Managing director Talal Yassine said he expected much of the
money to come from Australian mosques. "Islamic Australians and
institutions have had little
INDONESIA - MICRO FINANCE - Bank Sampoerna Sahabat focus on pre-prosperous community
www.bisnis.com - JAKARTA:
PT Bank Friends of Sampoerna work on the microfinance market by
highlighting the potential of pre-prosperous community of the customers."We
still have a commercial product, but also serve the community in order
to pre-prosperous and capable of independent entrepreneurship," said
Indra W Supriadi, president & CEO of the bank, tonight.The word friend in the name of
PT Bank Friends of Sampoerna work on the microfinance market by
highlighting the potential of pre-prosperous community of the customers."We
still have a commercial product, but also serve the community in order
to pre-prosperous and capable of independent entrepreneurship," said
Indra W Supriadi, president & CEO of the bank, tonight.The word friend in the name of
INDONESIA - BANKING - Islamic Mutual Funds Offer Bukopin
WWW.REPUBLIKA.CO.ID,
JAKARTA - PT Manulife Asset Management Indonesia (MAMI) signed a
cooperation with PT Bank Danamon to market investment funds, one of
which is Manulife Sector Amanah Syariah.Islamic products will be marketed in 168 branches of Bank Danamon was appointed. The branch includes a branch of Islamic Bank Bukopin. "This
product is one of five products that we market at MAMI
JAKARTA - PT Manulife Asset Management Indonesia (MAMI) signed a
cooperation with PT Bank Danamon to market investment funds, one of
which is Manulife Sector Amanah Syariah.Islamic products will be marketed in 168 branches of Bank Danamon was appointed. The branch includes a branch of Islamic Bank Bukopin. "This
product is one of five products that we market at MAMI
MALAYSIA - OPINION - Islamic finance must finance its diversification
www.btimes.com.my - Islamic finance is usually described as an infant
market with domestic focus and supported by the government, hence, much
like a baby reliant upon it parents in a home environment of nutrition,
nurturing, and natural growth.
“To be competitive in the new world order, one has to think like an
immigrant, create like an artisan, work like a start-up and provide
market with domestic focus and supported by the government, hence, much
like a baby reliant upon it parents in a home environment of nutrition,
nurturing, and natural growth.
“To be competitive in the new world order, one has to think like an
immigrant, create like an artisan, work like a start-up and provide
INDONESIA - BANKING - Sharia banks’ assets up 50 percent in March
www.thejakarapost.com - JAKARTA: The total assets of Indonesia’s sharia banks increased by 50
percent to Rp 158.8 trillion (US$16.99 billion) as of March from Rp
101.2 trillion in the same period last year, according to a senior Bank
Indonesia official.Edy Setiadi, the director for sharia banking
at the central bank, said that the annual growth of the Islamic banks in
Indonesia averaged 40.2
percent to Rp 158.8 trillion (US$16.99 billion) as of March from Rp
101.2 trillion in the same period last year, according to a senior Bank
Indonesia official.Edy Setiadi, the director for sharia banking
at the central bank, said that the annual growth of the Islamic banks in
Indonesia averaged 40.2
INDONESIA - CAPITAL MARKETS - Indonesia to Sell Dollar-Denominated Sukuk Toward End of 2012
www.bisnis.com - JAKARTA: Indonesia will sell dollar- denominated sukuk toward the end of the year, according to Dahlan Siamat, director of Islamic financing at the debt management office, if it gets approval from the finance minister.
Siamat declined to disclose the size of the offer, saying in an interview in Jakarta today that “we have figures for the amount in the report we sent to the
Siamat declined to disclose the size of the offer, saying in an interview in Jakarta today that “we have figures for the amount in the report we sent to the
INDONESIA - BANKING - 2013, KSP Nasari Open Shariah branch
WWW.REPUBLIKA.CO.ID,
JAKARTA - Save Co-Borrow (KSP) Nasari have raised interest in operating
a business in the field of Shariah industry. Nasari KSP did an internal proceeding related to this opening up of sharia.Nasari KSP Director, Frans Meroga, utter KSP Nasari still discussing the sharia business model. "We are still discussing whether to open a bank KSP or sharia sharia," tuturnya to
JAKARTA - Save Co-Borrow (KSP) Nasari have raised interest in operating
a business in the field of Shariah industry. Nasari KSP did an internal proceeding related to this opening up of sharia.Nasari KSP Director, Frans Meroga, utter KSP Nasari still discussing the sharia business model. "We are still discussing whether to open a bank KSP or sharia sharia," tuturnya to
Minggu, 03 Juni 2012
WORLD - FINANCE - Barwa Bank offering three-year, capital protected Islamic notes
www.gulf-times.com - Barwa
Bank is offering a “unique” Shariah-compliant three-year capital
protected notes linked to the Turkey and Indonesia equity markets until
June 21.
“The Turkey Indonesia Equity Capital Protected Note is an investment
opportunity for investors seeking potentially higher returns with 100%
capital protection.
The growth is based on the performance of a selected basket
Bank is offering a “unique” Shariah-compliant three-year capital
protected notes linked to the Turkey and Indonesia equity markets until
June 21.
“The Turkey Indonesia Equity Capital Protected Note is an investment
opportunity for investors seeking potentially higher returns with 100%
capital protection.
The growth is based on the performance of a selected basket
Sabtu, 02 Juni 2012
INDONESIA - BANKING - QNB Bank Kesawan expand the market
www.kontan.co.id - JAKARTA. Arrival of new investors pushed QNB Bank Kesawan more aggressive expansion. Management set up an investment fund of Rp 150 billion to strengthen its business lines, and network marketing this year.Divisions, a total of Rp 80 billion to improve the quality of core banking system began in June. The rest, to build about 23 new branches.The new office, among others, in
INDONESIA - BANKING - Fitch: Indonesia Foreign Bank Ownership Double-Edged Sword
www.theindonesiatoday.com - Fresh banking capital will be needed to support the ongoing growth of the Indonesian economy, Fitch Ratings says.
The challenge in broad terms for the local regulator is to oversee
the management of the financial system's risks in such a way that it is
able to attract new capital to support this growth, while ensuring the
accumulation of risk does not
The challenge in broad terms for the local regulator is to oversee
the management of the financial system's risks in such a way that it is
able to attract new capital to support this growth, while ensuring the
accumulation of risk does not
THAILAND - HALAL - PM meets with Indonesian President for talks on bilateral cooperation
www.pattayamail.com - BANGKOK, 1 June 2012 - Prime Minister
Yingluck Shinawatra today held a meeting with Indonesian President
Susilo Bambang Yudhoyono on the sidelines of the World Economic Forum on
East Asia 2012.
The meeting is aimed at strengthening their bilateral cooperation on
agriculture and food exports, with an emphasis on the Halal food
industry. The premier has reiterated
Yingluck Shinawatra today held a meeting with Indonesian President
Susilo Bambang Yudhoyono on the sidelines of the World Economic Forum on
East Asia 2012.
The meeting is aimed at strengthening their bilateral cooperation on
agriculture and food exports, with an emphasis on the Halal food
industry. The premier has reiterated
INDONESIA - CAPITAL MARKETS - Bank Muamalat gears up for Islamic debt issue in third week of June
futures.tradingcharts.com - Indonesia-based Islamic Sharia-compliant lender PT Bank Muamalat is set
to place an IDR800bn (USD84.7m/EUR67.5m) sukuk in the third week of
June, The Jakarta Post reported on Tuesday.
The deal falls within the bank's strategy to beef up its financial
resources with IDR1.5trn capital. Bank Muamalat aims to reach the target
by raising the remaining IDR700bn by the
to place an IDR800bn (USD84.7m/EUR67.5m) sukuk in the third week of
June, The Jakarta Post reported on Tuesday.
The deal falls within the bank's strategy to beef up its financial
resources with IDR1.5trn capital. Bank Muamalat aims to reach the target
by raising the remaining IDR700bn by the
INDONESIA - CAPITAL MARKETS - Bank Muamalat Readies for Rp 1.5t Islamic Bond Sale
www.thejakartaglobe.com -Bank Muamalat, the country’s top Islamic bank, plans to
sell Islamic bonds worth Rp 1.5 trillion ($159 million) over the next
two years to boost lending.
The Jakarta-based lender aims to
sell Rp 500 billion in July this year, it said in a brief prospectus
published in Bisnis Indonesia newspaper on Wednesday.
It will
offer the notes to investors on June 25-26,
Jumat, 01 Juni 2012
INDONESIA - EDUCATON - As Salaam drill SRB Rp 20 Billion for Education Funding
WWW.REPUBLIKA.CO.ID, JAKARTA - Sharia Rural Bank (SRB) As Salaam Islamic financing product relaunch of education. This product is offered to people who want their children to continue their studies to the next level. Early funding is intended for customers who have financial limitations in school and college finance their children. Offered ceiling of Rp 150 million. "We give the ceiling in
INDONESIA - REGULATIONS - Maybank, CIMB can breathe a sigh of relief
www.btimes.com.my - CLOSE CALL: Indonesia’s 40pc single ownership restriction to affect only new investors
IT looks like the country's top two banks, Malayan Banking Bhd (Maybank)
and CIMB Group, can heave a sigh of relief as they won't be subject to
Indonesia's proposed new rules on bank ownership.Reuters
reported late yesterday that the Indonesian central bank planned to
limit
IT looks like the country's top two banks, Malayan Banking Bhd (Maybank)
and CIMB Group, can heave a sigh of relief as they won't be subject to
Indonesia's proposed new rules on bank ownership.Reuters
reported late yesterday that the Indonesian central bank planned to
limit
INDONESIA - REGULATIONS - Indonesia Bank Ownership Plans Seen Hitting DBS Buy
www.thejakartaglobe.com -Indonesia’s central bank on Thursday
proposed capping single ownership in the country’s banks at 40 percent
for new investment, a rule that would scupper a $7.3 billion bid by
Singapore’s DBS Group Holdings for Bank Danamon.
Halim Alamsyah,
the central bank deputy governor responsible for banking supervision,
told analysts on a conference call that its proposal is
proposed capping single ownership in the country’s banks at 40 percent
for new investment, a rule that would scupper a $7.3 billion bid by
Singapore’s DBS Group Holdings for Bank Danamon.
Halim Alamsyah,
the central bank deputy governor responsible for banking supervision,
told analysts on a conference call that its proposal is
Kamis, 31 Mei 2012
CHINA - BANKING - Alkhair International Islamic Bank eyes opportunities in Shanghai and Great Eastern Takaful looking Indonesia, Brunei, Singapore and China
www.cpifinancial.net - The bank’s Chairman, Datuk Kamaruddin Taib, revealed to Islamic Business & Finance that he will be flying to Shanghai tomorrow (1 June) to take a closer look at a prospect in China’s most populous city. (source)
“The
good thing about being in Malaysia is that you are not
“The
good thing about being in Malaysia is that you are not
MALAYSIA - FINANCE - Introduction of Collateralised Murabahah
www.bnm.gov.my - Bank Negara Malaysia wishes to announce the introduction of a new Islamic monetary instrument, the Collateralised Murabahah.
Collateralised Murabahah is essentially a Shariah-compliant financing
secured by assets in which the financier has the right to sell the asset
should the client fail to repay the financing. It combines the widely
accepted Murabahah financing transaction
Collateralised Murabahah is essentially a Shariah-compliant financing
secured by assets in which the financier has the right to sell the asset
should the client fail to repay the financing. It combines the widely
accepted Murabahah financing transaction
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