INDONESIA - BANKING - Islamic bank assets grew

www.bisnis.com - YOGYAKARTA:
Islamic banking assets in the region of Yogyakarta until the first
quarter of 2012 grew 32.93% to Rp2, 29 trillion over the same period
last year Rp1, 72 trillion, so the share of Islamic banking assets
reached 6.46%."The
share of Islamic banking assets to total banking assets DIY in the DIY
reaches 6.46%, exceeding the national target rate of only 5.00%," said

WORLD - REGULATIONS - Bahrain’s Islamic Regulator AAOIFI Issues 7 Financial Standards

www.bloomberg.com - Bahrain’s Accounting & Auditing
Organization for Islamic Financial Institutions issued seven
Islamic standards for the industry, the regulator’s Secretary
General Khaled Al Faqih said today.

The guidelines will govern financial rights or the disposal
of rights, bankruptcy and liquidity management, Al Faqih said at
a news conference in the capital Manama. The agency also

INDONESIA - EVENTS - 2nd BI Seminar on Islamic Finance - Can Islamic Finance Focus on Productive Economic Activities Promote Growth & Financial Stability? (Bandung - May 7-8, 2012)

www.bi.go.id - Development
of Islamic finance would ideally promote financial transactions with
underlying asset that attached to the goods market or productive
economic activities. The application of this ideal is perhaps entails
considerable challenge to Islamic financial institutions particularly in
creating some sharia-compliant but economically feasible financial
products. Yet, the

INDONESIA - FINANCE - ASEI Export Guarantees Muamalat USD300 Jt

www.okezone.com - JAKARTA - PT Bank Muamalat Indonesia Tbk PT has worked with Insurance Export Indonesia (ASEI) for financing export bills up to USD300 million company this year. The cooperation aims to protect the risks covered by the exporter and Bank Muamalat of export payment risk of repayment failure. "We target volume amounting to USD300 million trade finance. So working with ASEI is to

INDONESIA - FINANCE - Bukopin Syariah hopes for Funds Management Government

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Syariah Bukopin aim of cooperation with the City of Jakarta to manage the financial area. BSB expects to be trusted as an assistant fund manager Bekasi."We
hope the government is trusted by Bekasi as manager of government
funds," said Director of BSB, Riyanto, told reporters on Monday (30/4).BSB offered a bank opeasional Bekasi. It's
just that it is judged

INDONESIA - RATNGS - Fitch rates Indosat BBB and the upcoming Indosat Sukuk Ijara AAA (Ind)

www.reuters.com - (The following was released by the rating agency) JAKARTA/SINGAPORE/SYDNEY, April 30 (Fitch) Fitch Ratings has upgraded Indonesia-based
P.T. Indosat Tbk's (Indosat) Long-Term Foreign- and Local-Currency
Issuer Default Ratings (IDR) to 'BBB' from 'BBB-'. The Outlook is
Stable.

Its foreign currency senior unsecured rating has also been
upgraded to 'BBB' from 'BBB-'. At the

WORLD - REGULATONS - AAOIFI in wide review of Islamic finance standards

www.reuters.com - (Reuters) - Islamic finance
may face its biggest shake-up in years as a top standard-setting body
seeks to reform the way the industry does business, including the role
of highly paid scholars in enforcing religious principles.

Khaled Al Fakih, the new
secretary-general of the Bahrain-based Accounting and Auditing
Organisation for Islamic Financial Institutions (AAOIFI),

INDONESIA - CAPITAL MARKETS - Indosat Bonds and Sukuk Ijara Issue

www.beritajatim.com - Surabaya
(beritajatim.com) - End of May telecommunication operator PT Indosat
Indosat Tbk will issue conventional bonds with fixed interest and Sukuk
Ijarah. The number of bonds and sukuk to be offered to the market of Rp 2.5 trillion.This
was disclosed by Djarot Handoko, Head of Communication Division of PT
Indosat Tbk, in a test network in Jakarta, Tuesday (04/17/2012

INDONESIA - CAPITAL MARKETS - Bonds and Sukuk Mayora Natural Excess Demand

investor.co.id - JAKARTA-The
demand for bonds and sukuk mudaraba IV offered by PT Mayora Indah Tbk
was oversubscribed by nearly five-fold, following a high investor
interest in the two instruments.Corporate
Secretary PT Mayora Indah Tbk, Yuni Gunawan in a written statement
received here on Tuesday (24/4) states, a manufacturer of processed
foods that offer bonds with a term of seven years

INDONESIA - CAPITAL MARKETS - Mayora bonds 5 times oversubscribed

www.neraca.co.id - Mayora
Indah Tbk PT (MYOR) claims or oversubscribe oversubscribed 5 times over
the plan to issue bonds and sukuk mudaraba with a total value of Rp 750
billion. Company
Secretary MYOR, Yuni Gunawan, an indication of excess demand for high
investor interest in bonds and sukuk offered, "We are delighted with the
high interest of investors as indicated by the results of

INDONESIA - TAKAFUL - COOPERATION: Jaya Protection Takaful Islamic banking is ready trailer

www.bisnis.com - JAKARTA: PT Jaya Protection Takaful, Islamic general insurance company subsidiary of PT Jaya Protection, aiming for cooperation with a number of Islamic banks for the sale of insurance products through banks (bancassurance). Yudha Primary, President Director of PT Jaya Protection Takaful (Japro Takaful), said the strengthening of the bancassurance distribution channel is one of

INDONESIA - TAKAFUL - Industry premiums grew 10-fold

www.bisnis.com - BOGOR: Business Takaful industry in the country grew 10-fold in the last six years since 2006. Head of the Insurance Bureau of Insurance Islamic Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) said Nurhayati Yatty gross contribution (gross premium) is booked by the Takaful industry in Indonesia reached Rp 4, 97 trillion in 2011,

INDONESIA - TAKAFUL - Business actors Islamic insurance to grow

www.bisnis.com - BOGOR: The number of businesses that enliven the Islamic insurance industry grew after the official regulators grant permission to a general insurance company (loss) to conduct Islamic business units. Head of the Insurance Bureau of Insurance Islamic Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) Yatty Nurhayati said permission was

INDONESIA - TAKAFUL - After growing Sharia-Based Insurance Company

WWW.REPUBLIKA.CO.ID, JAKARTA - Takaful Company continues to grow. This year is expected to have a big company that will build the business of Takaful. Head
of Islamic Insurance Bapepam-LK, Yatty Nurhayati, said this year there
was a new Takaful that will participate in the euphoria of sharia in
Indonesia.Permit one company has been issued by the Ministry of Finance. Yatty unfortunately can not

INDONESIA - REGULATIONS - Insha Allah Discuss Islamic Insurance Law Revision Completed This Year

WWW.REPUBLIKA.CO.ID, JAKARTA - The development of Islamic insurance in Indonesia is quite amazing. Takaful assets growth from 2006 to 2011 is significant, from Rp 614 billion to Rp 9.202 trillion. Sharia-based insurance amount from year to year also continued to increase. At first there were only 37 insurance companies that manage according to Islamic principles. This year there were 44 insurance

INDONESIA - BANKING - Muamalat : Boubyan to sell part of its stake

blogs.mubashir.info - Boubyan Bank to sell part of its stake: Boubyan Bank has signed a contract to sell part of its ~25% stake in Bank Muamalat Indonesia for KWD9.6mn. The bank expects to gain KWD5.7mn from this sale, which it plans to use to create additional allocations and to strengthen its financial position. (Zawya) (source)
Source: http://blogs.mubasher.info/sites/default/files/NCBC%

INDONESIA - BANKING - Kuwaiti Boubyan Bank to sell part of Indonesia's Bank Muamalat stake

world.seenews.com - (SeeNews) - Apr 27, 2012 - Kuwaiti Islamic Boubyan Bank (KUW:BOUBYAN)
said in a bourse statement yesterday it had signed an agreement to sell
part of its stake in Indonesia-based Bank Muamalat for KWD 9.6 million
(USD 34.5m/EUR 26.2m). (source)
Source:  http://world.seenews.com/news/Kuwaiti_Boubyan_Bank_to_sell_part_of_Indonesia_s_Bank_Muamalat_stake_271367 - April 27, 2012

INDONESIA - BANKING - Muamalat not interested in gold pawn business

www.VIVAnews.com
- In the midst of mortgage business that made gold the rapidly growing
Islamic bank, Bank Muamalat just not interested in offering mortgage
products gold. Director of Bank Muamalat, Arviyan Arifin, assess the gold pawning business more toward the speculative."We
have no gold pawn. Reason is that hard to make a deal. We do not have
that skill, because they want to actually

INDONESIA - BANKING - Muamalat aims 73 thousand new customers

www.VIVAnews.com 
- PT Bank Muamalat Indonesia targets to increase the number of clients
this year to 270 thousand people, up 35 percent from the previous 197
thousand customers. Efforts were made to improve accessibility by increasing the number of offices and automated teller machine (ATM).The
plan today, the first Islamic bank in Indonesia that will inaugurate
the new office as much as 9

INDONESIA - BANKING - Q1, Bank Muamalat pockets IDR86.9 billion net profit

www.bisnis.com - JAKARTA:
PT Bank Muamalat Indonesia Tbk pocketed IDR86.9 billion net profit in
QI/2012, rose 25.16% than IDR69.4.3 billion on the same period last
year.Hike in profit was motored by financing growth to IDR26.88 trillion, said Director Andi Buchari.Financing rose 54.12% when compared to QI/2011 at IDR17.44 trillion and when compare with the end of 2011, it rose by 14.87%.  (

INDONESIA - BANKING - Muamalat SALES: Management did not know

www.bisnis.com - JAKARTA:
The process of selling shares of the banking entities not included in
the bank's business plan submitted to Bank Indonesia because it is not
the authority of management.Andi
Buchari, Director of Compliance of PT Bank Muamalat Indonesia Tbk, said
the company never included the proposed sale of shares held by existing
investors in the bank's business plan."[The
sale

INDONESIA - FINANCE - Muamalat waits for Shareholders approval of the acquisition of Alif

www.bisnis.com - JAKARTA:
Indonesia Tbk, PT Bank Muamalat will ask permission of the shareholders
in May to acquire the shares of PT Al Ijarah Indonesia Finance is owned
by Boubyan Kuwait and Alpha Lease and Finance Holding BSC.Andi
Buchari, Muamalat Compliance Director, said the acquisition of PT Al
Ijarah Indonesia Finance (Alif) is going through the stages of the
approval of the

INDONESIA - CAPITAL MARKETS - Muamalat to Issue Sukuk Rp1, 25 trillion Bank Muamalat also examines the possibility of listing on the stock exchange.

www.VIVAnews.com -Muamalat to issue sukuk in the month of May 2012 around Rp1, 25 trillion. The first Islamic bank will also be listed its shares on the stock (listing), although it's been a public company status. Director of Bank Muamalat Arviyan Arifin said the issuance of sukuk just waiting for the permission of the General Meeting of Shareholders (AGM) in April. Issuance of sukuk has also

INDONESIA - FINANCE - Bank Muamalat completed Rp60-70 billion fund to become a majority shareholder.

www.VIVAnews.com - PT Bank Muamalat Indonesia plans to increase its ownership in PT Al Ijarah Indonesia Finance (Alif) a majority or 90 percent. Today, Bank Muamaat holds shares of 33.3 percent Alif. Director of Compliance and Risk Management of Bank, Andi Buchari, said her company has completed the total amount of Rp60 to Rp70 billion to increase the share in Alif. "But these stages are still

INDONESIA - BANKING - Maybank Islamic eyes region

www.thestar.com.my - THE buzz of activity at Maybank Islamic Bhd is a sign that's most welcome to its CEO Muzaffar Hisham.
It is the largest Islamic bank in the country which had seen assets
grow to US$23bil (RM70.32bil) at the end of last year and the hectic
movement within the corridors of the bank is an indication of the
momentum it has built.
Having built its position through the Islamic

INDONESIA - BANKING - Permata Shariah finance Grow 151 Percent

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Syariah Business Unit gems good enough to record the financing. Per March 2012 total financing at Bank Syariah gems increased 151 percent, from Rp 1.5 trillion to Rp 3.97 trillion.Of total financing, the corporation is the largest contributor, that is 35 percent. the
rest is divided in middle market financing, and secondary efforts,
small, and Micro

INDONESIA - BANKING - Mandiri Syariah invites clients for business dinner

WWW.REPUBLIKA.CO.ID, BANDUNG - In order to tighten the silatuturahmi and cooperation with businesses, Bank Syariah Mandiri Kopo Branch organized a "Dinner & Business Gathering" at the Pagoda Restaurant, Bandung, West Java. A total of 50 customers and prospective customers from various circles attended the gathering. They introduced some excellent products Bank Syariah Mandiri. One excellent

INDONESIA - BANKING - BI Delays Approval For DBS Acquisition

www.thejakartaglobe.com - Bank Indonesia will not approve DBS Group Holdings’ $7.3 billion
acquisition of local lender Bank Danamon Indonesia until it clarifies
foreign-ownership rules for Indonesian banks, the central bank head said
on Friday. Bank Indonesia will issue new bank ownership rules
by the end of May before evaluating DBS’s planned takeover, BI Governor
Darmin Nasution said. The

INDONESIA - BANKING - Bank Syariah Bukopin promotes Pawn Gold

WWW.REPUBLIKA.CO.ID, JAKARTA - When other Islamic banks are not too encouraging the growth of mortgage financing of gold, Bukopin Islamic Bank (BSB) actually made the pledge of gold as a superior product.

Unfortunately Bukopin Syariah not been a permit from the Islamic Bank to promote this new product.

"We've been asking since last year," said Director of Bank Syariah Bukopin, Riyanto, told

INDONESIA - RATINGS - Bank Muamalat

new.pefindo.com - PEFINDO assigned its “idA+” rating to PT Bank Muamalat Indonesia Tbk (BBMI or the Bank) with a ‘stable’ outlook. The rating reflects the strong support from Islamic Development Bank (IDB), high growth potential of sharia banking segment, and BBMI’s strong market position. However, the rating is constrained by the Bank’s increasing pressure in capitalization profile and

INDONESIA - CAPITAL MARKETS - Mayora Sets Bond Coupon at 8.25% to 8.5%

www.theindonesiatoday.com - JAKARTA, Indonesia Today - Food processor PT Mayora Indah Tbk (MYOR) has reportedly set 8.5% coupon for Rp500 billion bond and 8.25% coupon for Rp250 billion sukuk (Islamic bond), Bisnis Indonesia reported this morning.

 Yuni Gunawan, Mayora's corporate secretary, said the company during the offering period ending on Monday (April 23) offered coupon of 8.25% to 9.5%

INDONESIA - SURVEY - tax deduction of Zakat contributions

Dengan adanya PP No.60/2010, diharapkan semakin banyaknya Muslim yang membayar zakat karena ada insentif untuk mengurangi penghasilan kena pajak. Namun hal ini perlu dilihat efektivitasnya. Oleh karena itu,
diperlukan kajian/riset tentang hal ini. Tujuan Survei (ini adalah untuk melihat respon masyarakat atas PP No. 60/2010 atas zakat harta/maal sebagai pengurang penghasilan kena pajak. Survei

INDONESIA - CAPITAL MARKETS - Indonesia set to see record Sukuk issuance in 2012: HSBC

asianbankingandfinance.net - The government has already sold US$1.5 billion of local Sukuk in March this year, says HSBC Amanah head Herwin Bustaman.


In a recent teleconference,  HSBC shared its update and outlook for
Asia's Sukuk market. According to Herwin Bustaman, head of HSBC Amanah,
HSBC Indonesia, Indonesia is very likely to see record Sukuk issuance in
2012; in fact, the government

MALAYSIA - CAPITAL MARKETS - M’sia leads in sukuk

www.thestar.com.my - KUALA LUMPUR: Malaysia would remain as the world leader in sukuk
issuance, which is on course for another record-breaking year, according
to Islamic finance experts.
US-based Global Studies Institute director Dr M. Mahmud Awan said that in the first quarter of 2012, global Islamic bond issuance reached a record US$43bil (RM131.7bil).
“Of
this, Malaysia has about US$30bil

MALAYSIA - COMMODITY MARKETS - Bursa Suq Al-Sila offers palm olein trading

www.btimes.com.my - The world's first end-to-end Syariah-compliant commodity trading
platform, Bursa Suq Al-Sila' (BSAS), has added RBD Palm Olein as a new
commodity offering.

In a statement today, Bursa Malaysia said
this would provide more diverse product offerings for clients trading on
the BSAS platform.

"The inclusion of RBD Palm Olein complements BSAS's existing commodities, namely

INDONESIA - CAPITAL MARKETS - Auction results : Demand is still believed to be large

www.bisnis.com - JAKARTA: Auction sukuk series of four states with the indicative target of Rp1 trillion, which was held today is expected to be invaded by investors selling well. PT Mega Capital bond analyst Indonesia Ariawan said the potential of high demand such as the considerable investor appetite of investors to the domestic market and liquidity in the market is still quite large. "The

WORLD - OPINION - Mega bank, stock exchanges and trading platforms

www.btimes.com.my - ISSUES TO CONSIDER: An open letter to Islamic Development Bank president Dr Ahmad Mohamed Ali











DEAR Dr Ahmad Mohamed Ali, president, Islamic Development Bank (IDB) Group;Asalaam Alaikum,The Islamic finance world welcomes your comments on the Mega Islamic Bank with much excitement and great sense of anticipation. “…The
‘Mega Islamic Bank’ comes as an initiative of

INDONESIA - FINANCE - Muamalat energy sector led syndicated loan of U.S. $ 61 million

www.bisnis.com - JAKARTA: PT Bank Muamalat semester I/2012 Inc.
will lead the syndicate for financing investments and working capital of
U.S. $ 61 million to the energy sector and trade.Director of Corporate Bank Muamalat Luluk Mahfudah
disclose the financing consists of U.S. $ 21 million to build a steam
power plant (power plant) and U.S. $ 40 million will be allocated for
trade credit."For

INDONESIA - CAPITAL MARKETS - Sovereign Sukuk Auction Results

www.bi.go.id -  On this day, Tuesday, April 24, 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: (

INDONESIA - CAPITAL MARKETS - Indonesia raises 1.82trln rupiah in sukuk auction, above target

www.brecorder.com -  JAKARTA: Indonesia raised 1.82 trillion rupiah ($198.12 million) in a
sukuk auction on Tuesday, above a 1 trillion rupiah target, the finance
ministry said in a statement.
It sold six and 15-year
project-based sukuk, with no winning bids for 10 and 25-year
project-based sukuk.
Foreign investors bought 930 billion rupiah
of sukuk as of April 5, after selling 550 billion

WORLD - PUBLICATIONS - Empowering Risk Intelligence in Islamic Finance

Empowering Risk
Intelligence in Islamic Finance








Managing risk in
uncertain times










www.deloitte.com - The Islamic Finance Risk Intelligence survey, published
by IFKC at Deloitte Middle East, assesses the status quo of risk
management practice in the Islamic Finance industry. The report is based
on a survey

INDONESIA - BANKING - BNI SHARIA new Balikpapan grow 5%

www.bisnis.com - BALIKPAPAN: BNI Syariah Balikpapan Branch posted a
total disbursement of funding to the quarter I/2012 around Rp3, 2
billion, 5% of the annual target of Rp64 billion, because during January
to March this year working to strengthen the company's internal
network.BNI Syariah
Balikpapan Branch Nurfi Majidi said internal reinforcement, such as
hiring a new employee, newly

INDONESIA - BANKING - ISLAMIC BANK BUKOPIN prepare 10 new branches

www.bisnis.com - JAKARTA: PT Bank Syariah Bukopin preparing the operational
expenditure of up to Rp30 billion for the opening of a network of ten
offices located in Java this year. Riyanto, Managing Director of Bank Syariah Bukopin
(BSB), said the company will add about 10 office network this year to
expand our market penetration. "About four to five sub-branches [KCP]
we'll open in Jakarta

INDONESIA - CAPITAL MARKETS - Bank Syariah Bukopin pedal boot sukuk portfolio

www.bisnis.com  - JAKARTA:
PT Bank Syariah Bukopin plans to increase the placement of funds in
sukuk portfolio to five times the current position of Rp10 billion.Riyanto, Managing Director of Bank Syariah
Bukopin (BSB), said the placement of funds in sukuk is one of the
company's strategy in managing liquidity."We're looking for sukuk and would like to add over 50
billion portfolio.

INDONESIA - BANKING - Do not ambition spur consumer loans

www.bisnis.com - SURABAYA: Bank
Indonesia Islamic banking'm not too ambitious to spur consumer loans
following the central bank's policy of lowering the ratio of the value
of goods credit (loan to value / LTV) of a conventional bank.Instead
of sharia-based Islamic bank is advised to keep credit growth to boost
investment and working capital.Deputy Leader of BI Surabaya Sarwanto Banking

INDONESIA - FINANCE - BMT TAMZIS Expands Financing Services

WWW.REPUBLIKA.CO.ID,
JAKARTA - Baituttamwil TAMZIS provide new services for its participants.
Sharia-compliant cooperative
issued a new product in the form of consumer financing,
the financing of the mortgage, automotive,
education, and
health. From
its founding until last year TAMZIS not serve
as the home consumer finance and motor vehicles. But
this year syariah-based cooperative

INDONESIA - BANKING - Financing Fund bailout Haji BRI Syariah Reaches USD 406 Billion

WWW.REPUBLIKA.CO.ID, JAKARTA - Financing the Sharia BRI
pilgrimage bailout that allows customers to perform the pilgrimage had
reached Rp 406 billion at the end of March 2012. The amount financed is expected to increase threefold by
the end of the year.According to
Director of BRI Syariah, Mochamad Hadi Santoso, increased financing
bailouts pilgrimage will be achieved by the addition of new

INDONESIA - BANKING - Bank Mestika Acquisition Pending, RHB Capital Rights Issue Lapsed

www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - RHB Capital Berhad plans to resubmit an application for rights issue upon obtaining the necessary approvals for the acquisition of Bank Mestika Dharma.

RHB Capital Berhad informed Bursa Malaysia Thursday (April 19) that the approval from Bursa Malaysia Securities Berhad for the extension of time of up to 19 April 2012 to complete the

SINGAPORE - BANKING - Mandiri Syariah opens up remittance services in Singapore

www.bisnis.com - JAKARTA: PT Bank
Syariah Mandiri Indonesia launched the Transfer Funds For Beloved, a product delivery
or remittance of money from Singapore to Indonesia. In
a Transfer of Funds for Indonesia Beloved (DUIT),
Bank Syariah Mandiri (BSM) in collaboration with the Mass Express Pte, Ltd.,
sebuiah local remittance companies in Singapore.
Through this product, labor Indonesia (TKI

INDONESIA - BANKING - ISLAMIC BANK BUKOPIN minimal profit grew by 30%

www.bisnis.com - MALANG:
PT Bank Syariah Bukopin peg the growth of the earnings and assets by
30% -40% from the previous year following the expansion plans by
extending the outlet or branch of a priority on the island of Java.President Director of PT Bank Syariah Bukopin, Riyanto,
said in the past three years he headed the bank's growth has increased
dramatically from previous asset only

INDONESIA - BANKING - Maybank Islamic targets 15-18% growth

www.thesundaily.my - KOTA KINABALU (April 21, 2012): Maybank Islamic Bhd
is targeting to grow its assets in the region of 15-18% this year, says
chief executive officer Muzaffar Hisham.
He said the bank now enjoys growth in both the corporate and customer
segments, although they are still cautiously optimistic about growth
this year.
"This is the advantage of our business as the growth is

INDONESIA - BANKING - OJK Encourages Islamic Finance Development

www.depkeu.go.id - Jakarta, 17/4/2012
MoF (Fiscal) News - The presence of the Financial Services Authority
(OJK),
besides maintaining financial system stability, encourages the
development of
Islamic Finance in Indonesia. This was conveyed by Special Staff of
Minister of
Finance and former Chief of Establishment Preparation Executive Team for
OJK
Mulia P. Nasution while attending the Islamic

INDONESIA - BANKING - Maybank says to delay stake sale in Indonesia's BII

www.reuters.com - (Reuters) -
Malayan Banking Berhad (Maybank) will delay the sale of a 10.7 percent
stake in PT Bank Internasional Indonesia
because of weak investor interest, the companies said on Thursday.

Maybank, Malaysia's biggest
lender by assets, said in
January it had appointed UBS to handle the sale of the
stake in BII. It is required by the Indonesian capital market
regulator to

INDONESIA - HALAL - Indonesia 'defeated' by Malaysia on halal product

WWW.REPUBLIKA.CO.ID, JAKARTA – Halal products from Indonesia is expected
to boost the economy sector as the demand continuously increasing.
Unfortunately, The potentital has not explored by Indonesia as the
producer of halal products yet. Even, the position is under Malaysia,
which only has 17 million Muslims The consumers lack of information on
local halal food.

“Indonesian halal products

INDONESIA - CAPITAL MARKETS - Bapepam-LK Supports Islamic Finance Development in Indonesia

www.depkeu.go.id - Jakarta, 16/4/2012 MoF (Fiscal) News - Capital Market and Financial
Institution Supervisory Agency (Bapepam-LK)
always
encourages the growth and development of domestic Islamic financial
industry. This
was stated by Head Bureau of Accounting Standards and Disclosure of Bapepam-LK Etty Retno Wulandari while
attending
the Islamic Finance News (IFN) Indonesia Forum 2012, on

INDONESIA - CAPITAL MARKETS - Indonesia Dollar Sukuk Beating Rupiah Debt: Islamic Finance

www.jakartaglobe.com - Yields on Indonesia’s local- currency Islamic bonds are climbing to a one-month high over dollar-denominated sukuk on speculation a rising fuel-import bill will disrupt the economy and weaken the rupiah.    

The yield premium demanded on local-currency 4.45 percent notes due February 2018 over 4 percent dollar securities due November 2018 reached 184 basis points

JAPAN - CAPITAL MARKETS - Financial Services Agency : Q and Q on Taxation of J-Sukuk

www.btimes.com.my -




Potential buyers of Malaysia’s RHB Capital Bhd can grab an increasing share of the biggest market for Islamic bonds at a 24 per cent discount to the bank’s rivals.

RHB, whose Islamic banking profits rose ten times faster than total earnings last year, will become Malaysia’s largest stock broker after its acquisition of

INDONESIA - BANKING - Foreign investors eye Islamic bank in Indonesia

WWW.REPUBLIKA.CO.ID, JAKARTA - Several foreign and local investors told Bank Indonesia (BI) about their interests on build Islamic bank in Indonesia, the Deputy Governor of BI, Halim Alamsyah, said on Friday. "An investor will soon submit to BI. The time depends on the bank," he said.

The investor applied to open Islamic bank is from Indonesian commercial bank. Some foreign investors

WORLD - REPORTS - TAKAFUL - Takaful Premium Jumped 19% in 2010 to $8.3 Billion, E&Y Says

www.bloomberg.com  -Global Islamic insurance contributions surged 19 percent in 2010 to $8.3 billion helped by Saudi Arabia, the world’s biggest oil exporter, which made up more than half the industry, an Ernst & Young report said.

The six-nation Gulf Cooperation Council, which also includes the United Arab Emirates, Qatar, Bahrain, Oman and Kuwait, made $5.68 billion of Islamic insurance or

INDONESIA - BANKING - 'Foreign Investors Do Until disadvantaged Sector Local Sharia'

WWW.REPUBLIKA.CO.ID, JAKARTA - The development of Islamic banking in Indonesia will increase. In the twenty years of Islamic banking in Indonesia will continue to grow. Later it is not likely to exceed the growth of conventional banking.

But Chairman Indonesia Sharia Bank Association (Asbisindo), Yuslam Fauzi, said regulators should create fair rules for the entry of foreign investors to

INDONESIA - CAPITAL MARKETS - Only 3 Percent, Not Good growth of Sukuk

WWW.REPUBLIKA.CO.ID, JAKARTA - The growth of high sukuk in 2012 can not be used as a benchmark to determine the good or the development of Islamic bonds. Despite growing more than 100 percent, compared to conventional bonds, sukuk growth is still very small.

In 2011, sukuk issued only Rp 200 billion by the two issuers. In 2012, there were one issuer that issued the sukuk worth Rp 250 billion,

INDONESIA - BANKING - Affin awaits Indonesian central bank nod

www.thestar.com,my  - KUALA LUMPUR: Affin Holdings Bhd will patiently continue to wait for Bank Sentral Republik Indonesia (BSRI), the Indonesian central bank’s formal agreement to allow Affin to hold at least a 51% stake in PT Bank Ina Perdana.

“The informal indications so far seems to be quite positive. If possible, we want it to be formalised,” Affin deputy chairman Tan Sri Lodin Wok

INDONESIA - BANKING - Affin Still Interested In Bank INA Perdana

www.bernama.com - KUALA LUMPUR, April 16 (Bernama) -- Affin Holdings Bhd is still interested in acquiring at least 51 per cent or a majority stake in Indonesia's PT Bank Ina Perdana, says Chairman Tan Sri Mohd Zahidi Zainuddin.

"We are continuously looking to expand our operations there.

"However, we want to get a clear indication from Indonesian regulators about foreign ownership for local

INDONESIA - CAPITAL MARKETS - Bonds and Sukuk transactions State Retail Up 67.63% in First Quarter

www.indonesiafinancetoday.com - JAKARTA (IFT) - The total transaction value of retail bonds and retail state sukuk in first quarter 2012 increased over the same period of 2011. Analysts said the rise in the value of the transaction one of the retail bonds backed retail sukuk issuance absorption SR004 is the highest in history. (source)
Transaksi Obligasi dan Sukuk Ritel Negara Naik 67,63% di

INDONESIA - BANKING - Islamic Banking: Professional or Islamic?

www.republika.co.id - The biggest fear when someone entered the institute sharia is Islam and he must have a certain fit Islamic values. Smelling things that Islam became one of the factors that make a person frustrated trying to challenge the Islamic financial industry.
The lack of knowledge of the sharia are also factors that make a person fail to be an employee of sharia industry. This

INDONESIA - BANKING - BNI Syariah Micro will Open 50 Outlets

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Negara Indonesia (BNI) Syariah plans to open 50 outlets by 2012 micro. This amount will add to the already opened five outlets in the area of ​​Depok and Bogor.

"This year we are targeting to have 55 more outlets to serve the micro finance sector," said BNI Syariah Head of the Division of Human Resources, Bambang Sutrisno, Thursday (12/4).  (source)



The

INDONESIA - HALAL - Tatarstan wishes to have closer ties with Indonesia

www.thejakartapost.com - The Republic of Tatarstan aims to improve its relations with Indonesia as President Rustam Minnikhanov expressed his intention to visit Indonesia at the end of September to meet various economic, trade, industry and tourism stakeholders.

The intention was conveyed to Indonesian Ambassador to Russia, Djauhari Oratmangun, during a visit to the Tatarstan capital city of

INDONESIA - BANKING - MURABAHAH GOLD: Islamic banks asked for BI issues new rules

www.bisnis.com - JAKARTA: Islamic banks urged the central bank would soon issue a rule for gold murabaha products, financing products to the ownership of gold in installments.
One of the immediate bank Bank Indonesia (BI) to issue rules murabaha financing agreement for its gold holdings are PT Bank Rakyat Indonesia Syariah (BRI Syariah).
"We urge the Bank to soon issue a rule the gold

INDONESIA - BANKING - This is the Greatest Challenge of Sharia Industry

WWW.REPUBLIKA.CO.ID, Industrial sharia in the last five years to grow rapidly. Total assets of Islamic banking in Indonesia increased from the 17th position to 13th position to the world. This means that the interest of the industry growth of sharia in Indonesia remains high. Remarkably, this growth can still be much higher.
Since the issuance of Islamic Law No. 21 In 2008, Islamic banking

INDONESIA - BANKING - Foreign Investors Attracted Establish Islamic Banking in Indonesia

WW.REPUBLIKA.CO.ID, JAKARTA - A number of investors have filed his intention to Bank Indonesia to establish Islamic banks in Indonesia. These investors not only from their own country, but also foreigners.
BI deputy governor Halim Alamsyah, said investors are carrying out studies and preparation of submissions to the BI. In the near future is there a common bank Indonesia to immediately

INDONESIA - CAPITAL MARKETS - Citra Marga Plans $130m Bond Sale

www.thejakartaglobe.com - Citra Marga Nusaphala Persada, an Indonesian toll road operator, plans to sell Rp 1.2 trillion ($130 million) in bonds in the second quarter this year to partly finance its expansion plans, a company executive said.

Indrawan Sumantri, finance director of the company, said in Jakarta on Thursday that the company’s bond sale would consist of Rp 700 billion in conventional

INDONESIA - CAPITAL MARKETS - Indonesia’s Credit Quality a Concern On Vague Budget-Deficit Cutting Plan

www.thejakartaglobe.com - Indonesia’s bond market is showing President Susilo Bambang Yudhoyono’s about-face on fuel subsidies has curbed investor concern over inflation this year, while doing nothing to reduce longer-term price-increase expectations.

Yields on 8.8 percent Islamic notes due in April 2014 have fallen 16 basis points since the March 30 subsidies decision to 2.37 percent on Friday,

INDONESIA - BANKING - Microlink sees first Indonesian contract by year-end

www.thesundaily.com - KUALA LUMPUR (April 13, 2012): Microlink Solutions Bhd, a financial services technology solutions provider, is in advanced talks with an Indonesian bank to provide Islamic banking solutions, and expects to seal the contract by year-end, its executive director and CEO Peter Yong Kar Seng said.

The company is also in preliminary talks with five other banks there as it looks

INDONESIA - TAKAFUL - BNI Life premiums achieve the target of Rp 1.9 trillion in 2012

www.kontan.co.id - JAKARTA. PT BNI Life Insurance target for the premise of Rp 1.9 trillion to the end of 2012. The amount is up about 72% compared to last year.

"Until the end of 2011, we obtained a premium of Rp 1.1 trillion," said A Junaedy Ganie, Director of BNI Life.Rabu (11/4). Just a reminder, last year, the acquisition of life indeed BNI premium had declined from Rp 1.3 trillion in

INDONESIA - CAPITAL MARKETS - Lower Yields Breathe New Life Into Indonesia’s Islamic Lending

www.thejakartabglobe.com - A year long drought in the sales of corporate sukuk in Indonesia is ending as falling yields spur offers by Bank Muamalat Indonesia and Mayora Indah.

Bank Muamalat, the nation’s second-largest Islamic lender, will offer as much as Rp 800 billion ($87.2 million) of Shariah-compliant notes in June, finance director Hendiarto said on April 4.

Mayora Indah, a biscuit

MALAYSIA - OPINION - Competitive advantage of KL: Are we optimising our soft assets?

www.malaysia-chronicle.com - Many things have been said about making Kuala Lumpur a world class city. From the ETP to Kuala Lumpur’s Structure Plan, a lot has been said about the psychical aspect of Kuala Lumpur and making it a leading Metropolis.

The questions remain, “What will make people come to Kuala Lumpur, What will make it stand out internationally and What can take Kuala Lumpur beyond

INDONESIA - CAPITAL MARKETS - Indonesia's Citra Marga plans 1.2 tln rupiah Sukuk bond issue

www.reuters.com - (Reuters) - Indonesian toll-road operator PT Citra Marga Nusaphala Persada said on Thursday that it is planning a 1.2 trillion rupiah ($131.11 million) corporate bond issue to fund the acquisition of toll roads in Jakarta and its outskirts.

Finance director Indrawan Sumantri said the 700 billion rupiah conventional bond and 500 billion rupiah corporate sukuk would be issued in

MALAYSIA - BANKING - Maybank Islamic unveils card for the affluent

www.btimes.com.my - KUALA LUMPUR: Maybank Islamic Bhd has unveiled Maybank Islamic Ikhwan Visa Infinite, a card that it claims offers the best one-for-one privileges from flight tickets, dining to golf.

The card, launched at the World Halal Research Summit last week, is for the affluent market of 35-years-old and above with an income of RM240,000 a year.

Maybank Islamic chief executive officer

INDONESIA - BANKING - BI to Implement Multiple Lincense to Foreign Banks

www.theindonesiatoday.com - JAKARTA, Indonesia Today - The central bank, Bank Indonesia (BI), plans to implement multiple license to foreign banks operating in Indonesia, Bisnis Indonesia reported this morning.

Muliaman D. Hadad, BI's governor deputy, said the multiple license implementation is inline with other countries' policies that do not give equal access to Indonesian banks for expansion.

INDONESIA - BANKING - BRI Syariah-Telkom Cooperation Delivery of Remittance

www.investor.co.id - JAKARTA - PT BRI Syariah and PT Telkom Indonesia cooperation remittances (remittance) and electronic money through the outlet with Pomegranate logo that is easy, safe, and inexpensive.
According to Director of Enterprise and Wholesale Telkom Arief Yahya on Wednesday, sending money and electronic money makes it easy for people to send money overseas. In addition, this

INDONESIA - BANKING - BRI Syariah Distributes Funding Target Rp14 Trillion

www.investor.co.id - JAKARTA - PT Bank BRI Syariah finance disbursement target of about Rp14 trillion during 2012 which will be channeled into five segments, namely the commercial sector, cooperative finance, microfinance, consumer and SME.
"Targeting our funding this year of about Rp14 trillion, an increase of 55.5% compared with last year Rp9 trillion," said Director of Business BRI

BRUNEI - HALAL - 'Philippine considers Brunei as standard bearer for halal'

www.bt.com.bn - THE Philippines is looking towards Brunei as the standard for its halal industry, a representative from the Center for International Trade Expositions and Missions (CITEM) said after a briefing to local business figures on the International Food Exhibition (IFEX) 2013 at the Philippines Embassy.

"We look at Brunei as the standard (for this) because the world knows that when we

BRUNEI - BANKING - Syariah-compliant banking market may go up to 60% in 5 yrs

www.bt.com.bn - SYARIAH-compliant banking is forecasted to reach between 55 to 60 per cent from the current 40 per cent market share in the next five years, said the managing director of a local bank.

The forecast, coupled with a more central role that Islamic finance is now playing in the Bruneian economy, emphasises the need for standardised regulations for Islamic finance, said Javed Ahmad,

INDONESIA - BANKING - Bank Indonesia Uses DBS’s Danamon Bid to Negotiate

www.thejakartaglobe.com - Bank Indonesia will seek talks on reciprocity with Singapore as a condition for the central bank’s approval of DBS Group’s bid to acquire Bank Danamon Indonesia, its deputy governor said.

The central bank wants equal treatment for Indonesian banks to operate in Singapore, deputy governor Halim Alamsyah said in Jakarta on Wednesday.

Singapore-based DBS offered to buy

PHILIPPINES - BANKING - Maybank may be bidding for Philippines’ Islamic bank

biz.thestar.com - PETALING JAYA: Malayan Banking Bhd (Maybank) said it is keeping its options open in bidding for Al Amanah Islamic Investment Bank of the Philippines, the country’s only Islam-oriented commercial bank, a Philippine’s based newspaper reported.

Al Amanah Islamic Bank is looking for a strategic partner through the sale of a 49% stake or the entire bank to a foreign entity with

INDONESIA - HALAL - Big Potential For M'sia-East Java Entrepreneurs To Develop Halal Industry

www.bernama.com - SURABAYA, April 10 (Bernama) -- Malaysian halal products entrepreneurs and their counterparts in East Java have huge potential in developing the halal industry by using high-technology concepts.

Halal Industry Development Corporation (HDC) Chairman Tan Sri Syed Jalaludin Syed Salim said the agency is ready to assist such endeavour to attain win-win synergies. (source)

BRUNEI - OPINION - 'Brunei must find niche in Islamic capital markets'

www.bt.com.bh - BRUNEI'S Islamic finance sector must find a niche in Islamic capital markets and reposition itself to find new opportunities in order to catch up with other industry players in the region, an expert said.

Sri Anne Masri, managing director of Pro Ethica Training and Research, said more building blocks are needed in the country to pave a way for the creation of more Islamic

WORLD - OPINION - SAMI + 3 — Islamic world’s BRICS

ww.btimes.com.my - IDEAL CONFIGURATION: Other Muslim countries can be added easily, without having to change the name




“We must remember that one determined person can make a significant difference, and that a small group of determined people can change the course of history.” Sonia Johnson

THE recent BRICS summit in New Delhi, India, should be a wake-up call for the Muslim world’s

INDONESIA - CAPITAL MARKETS - Assessment of Securities Auction Results Sukuk Islamic State Or Country Series SPN-S 11102012 (New issuance), Series PBS001 (Reopening), PBS002 (Reopening), PBS003 (Reopening) and PBS004 (Reopening) 10 April 2012

www.bi.gov.id - On this day, Tuesday, April 10, 2012, has conducted auctions State Sharia Securities (SBSN) or State Sukuk series SPN-S 11,102,012 (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 - CAPITAL MARKETS - PT Mayora Rp 250 billion Sukuk Issue

WWW.REPUBLIKA.CO.ID, JAKARTA - Manufacturers of processed foods, PT Mayora Indah Tbk, a public expose in order to conduct a public offering of sukuk mudaraba Mayora Indah II in 2012.

PT Mayora offer sukuk mudaraba the emission value of Rp 250 billion. "Sukuk Mudharabah is offered without papers," said Director General and Operations PT Mayora, David Atmadja, Monday (9/4).

Sukuk Mudharabah has

INDONESIA - BANKING - Bank Syariah Bukopin Grew 45% Funding Target

www.investor.co.id- JAKARTA-President Director of Bank Syariah Bukopin (BSB) Riyanto said it is targeting growth this year "funding" (funds to third parties) about 30-45%.

"Funding we are targeting to grow about 30-45%, we try to keep in that range," said Riyanto, in a press release received on Tuesday (10/4). (source)



Riyanto also revealed that by the end of March this year there has been

INDONESIA - BANKING - DPK Bukopin Syariah Growth Target 30%

www. investor.co.id - JAKARTA-Bank Syariah Bukopin third party fund growth target for 2012 to achieve 30-45% to meet the needs of the business world.

"Funding (DPK) we are targeting to grow about 30-45 percent, we try to defend the revolution," said President BSB BSB Riyanto in the press release received in Jakarta, Tuesday (10/4).

Riyanto says, until the end of March 2012 it was increasing

INDONESIA - EDUCATON - EXECUTIVES ASBINDO inducted Tasikmalaya

www.bisnis.com - Tasikmalaya: Chairman Indonesia Sharia Bank Association (Asbisindo) Jabar Ahmad Slamet Fariku Zaman said the organization is expected to become a place of education for the internal perpetrators of Islamic banking.

In addition, he said, as well as expected Asbisindo container business relationship that Islamic banks should exchange information about the development of Islamic

INDONESIA - RATNGS - Pefindo : Bank Nagari

www.pefindo.com - PEFINDO affirmed its “idA” rating of PT Bank Pembangunan Daerah Sumatera Barat or Bank Nagari (BPSB or the Bank) as well as the rating of its outstanding Bond VI/2010 of IDR500 billion. At the same time, PEFINDO also affirmed its “idA(sy)” rating of the Bank’s Sukuk Mudharabah I/2010 of IDR100 billion and its “idA-” rating of the Bank’s outstanding subordinated Debt I/2010 of

INDONESIA - CAPITAL MARKETS - Follow Reuters Facebook Twitter RSS YouTube Read Qaeda warns UK against handing over cleric to Jordan 7:20am BST 1 From gaffes to glory, Boris keeps Britain guessing 09 Apr 2012 2 North Korea says ready to launch rocket, prompts warnings 11:05am BST 3 Cruise retraces Titanic's ill-fated voyage 8:55am BST 4 UPDATE 1-UK Stocks-Factors to watch on Tuesday April 10 7:35am BST 5 Discussed 6 Britons’ trust in leaders’ economic policy hits low 3 Economy on track for recovery as service firms see growth 3 Murdoch hacking scandal spreads to Sky News Watched Why your next phone might not be an Apple Why your next phone might not be an Apple Thu, Mar 29 2012 Soccer game turns violent in Bolivia Soccer game turns violent in Bolivia Mon, Apr 9 2012 10-year-old gives birth in Colombia 10-year-old gives birth in Colombia 6:22am BST Indonesia raises 1.9 trln rupiah in sukuk auction

uk.reuters.com - (Reuters) - Indonesia raised 1.9 trillion rupiah ($207.65 million) in a sukuk auction on April 10, almost double its 1 trillion rupiah target, a debt official said on Tuesday.

Offshore investors bought 114 billion rupiah of sukuk last month, after selling 1.22 trillion rupiah in February, with their ownership standing at 4.43 percent by March 22, the latest data from the debt

INDONESIA - BANKING - Expansion to the East Kalimantan Muamalat

www.bisnis.com - BALIKPAPAN: PT Bank Muamalat Indonesia Tbk plans to increase the branch network in Kalimantan Area as much as 11 offices in order to realize the target of raising funds from third parties are set to grow 63% from Rp1, 130 trillion at end December 2011 to Rp1, 8 trillion at the end of 2012.
 Agus Darmawan, Muamalat Kalimantan Area Manager, said the addition of this office

INDONESIA - BANKING - Bank Muamalat Open Weekend in Bandung

www.investor.co.id - BANDUNG - Bank Muamalat open service "weekend banking" first in the city of Bandung in order to accommodate the growth of shopping and culinary tourism in the City of Flowers, to operate seven days a week.
"Branch office bank to plan weekend banking services is one of 12 branches to be opened in the area of ​​West Java. Banking services are becoming increasingly vital

INDONESIA - BANKING - DBS Told 80% Is Cap for Indonesia's Bank Danamon

www.thejakartaglobe.com - DBS Group Holdings, Southeast Asia’s largest bank, must sell shares of Bank Danamon Indonesia back to the public if it owns more than 80 percent of the lender after a takeover, according to the Indonesian bourse.

DBS offered to buy Jakarta-based Danamon for about $7.2 billion on April 2 in the biggest takeover by a Southeast Asian lender.

The bank would pay Singapore’s

INDONESIA - OIC - IDB approves $1.96bn in new projects

www.arabnews.com - The closing ceremony of the 37th annual meeting of the board of governors of the Islamic development bank (IDB) hosted in Khartoum on Thursday was marked by the signing of a number of financing agreements. Under these agreements, the bank will contribute to financing of new development projects in 21 member countries with a total value of $1.96 billion.

According to an IDB

INDONESIA - RATINGS - Bank Danamon Indonesia Tbk. outlook positive

www.pefindo.com - PEFINDO puts Positive Outlook to PT Bank Danamon Indonesia Tbk. (BDMN or the Bank) and to PT Adira Dinamika Multi Finance Tbk (ADMF or the Company), the automotive financing subsidiary of BDMN, due to the potential improvement in the Bank’s and the Company’s businesses and financial profiles as a result of BDMN’s shares acquired by DBS Group of Singapore. The acquisition would

INDONESIA - RATINGS - Bakrieland Development Tbk. downgrade

www.pefindo.com - PEFINDO lowered its ratings on PT Bakrieland Development Tbk. (ELTY or the Company) and the Company’s Bond I/2008 to “idBBB” from “idBBB+”. PEFINDO also lowered the rating of the Company’s Sukuk Ijarah I/2009 Serie B to “idBBB(sy)” from “idBBB+(sy)”.

The downgrade was attributable to the Company’s weakening cash flow protection ratios. In 2011, the Company’s EBITDA to debt

INDONESIA - BANKING - QNB Kesawan Profit Expanded

www.theindonesiatoday.com - JAKARTA, Indonesia Today - Bank QNB Kesawan, controlled by Qatar National Bank (QNB), booked a tiny net profit of Rp6.18 billion last year.
It is a substantial growth from Rp1.2 billion in 2010, but relatively small compared to the growth of its equity to Rp892.57 billion from Rp178 billion in December 2010. (source)


QNB Kesawan had its total assets surged 39%

INDONESIA - BANKING - Danamon Announces Sale of Shares by FFH to DBS (press release)

www.danamon.co.id - press release - PT Bank Danamon Indonesia, Tbk, (‘Danamon’ or the “Company”) has been informed by Fullerton Financial Holdings Pte. Ltd. (“FFH”), that it has entered into a share purchase agreement with DBS Group Holdings (“DBS”) to sell its interest in the whole of the issued share capital of Asia Financial (Indonesia) Pte. Ltd. (“AFI”) to DBS. AFI holds approximately 67.37%

INDONESIA - CAPITAL MARKETS - Bank Muamalat’s Sukuk Sale Might Be in Rupiah

www.thejakartaglobe.com - Bank Muamalat Indonesia said its planned sale of Shariah-compliant bonds would probably be denominated in rupiah.

The nation’s oldest Islamic lender may issue Rp 800 billion ($87 billion) of securities, or as much as Rp 1.5 trillion if the issue is oversubscribed, Hendiarto, the bank’s Jakarta-based finance director, said on Thursday.

He said the lender preferred to

INDONESIA - EVENTS - IFN Indonesia Forum - Jakarta - April 16-17, 2012

The full program for the IFN Islamic Finance News Roadshow 'Jakarta-Indonesia' to be held at the Hotel Mulia Senayan - Jakarta has been announced and can be accessed here.

Registration is still possible here.  Go here for the website of the IFN FORUM INDONESIA 2012.

The growth potential for Indonesia's Islamic finance industry is enormous, and coupled with a steadily growing economy,

INDONESIA - TAKAFUL - Shariah Bumida Target 70 Percent Premium Increase

WWW.REPUBLIKA.CO.ID, JAKARTA - Young Bumiputera (Bumida) Shariah target premium in the year 2012 amounting to Rp 52.25 billion. This number increased 70 percent compared to last year, which is Rp 30.92 billion.
"The growth we have achieved the last two years, we are optimistic can achieve 2012 target," said President Bumida, Mohammad Irsyad, told journalists on Monday (2/4).
According Irsyad,

WORLD - REGULATIONS - Islamic finance pressured to join accounting mainstream

www.reuters.com - (Reuters) - Rapid growth of Islamic finance is increasing pressure for the industry to enter the accounting mainstream, by seeking guidance from the International Accounting Standards Board (IASB), the global body which sets the tone for book-keeping in conventional finance.

It would be a controversial move - by basing itself on religious principles, Islamic finance seeks to

INDONESIA - BANKING - House urged to intervene in DBS’s plan to acquire Danamon

www.thejakartapost.com - Golkar Party lawmaker Lili Asdjudiredja has called on the House of Representatives to urge Bank Indonesia and the government to prevent Singaporean DBS Bank from acquiring 99 percent of Bank Danamon’s shares as it would create a banking monopoly.

Both banks are owned by Temasek Holdings, the Singaporean sovereign wealth fund fully controlled by the island-city government

INDONESIA - BANKING - DBS may see Danamon bid delayed

www.thejakartapost.com - Regulators may use DBS Bank's bid for Indonesia's Bank Danamon as a bargaining chip and delay approval until Singapore agrees to offer reciprocal access to its banking sector.

Bank Indonesia (BI) governor Darmin Nasution and his deputy Muliaman Hadad said on Wednesday that they wanted to use DBS' bid to acquire the Indonesian bank, in which Temasek Holdings has a

INDONESIA - FINANCE - BRI Syariah Malang Rp 1 billion target crosshairs

www.bisnis.com - MALANG: Bank Rakyat Indonesia (BRI) Sharia Malang branch target set at Rp 1 billion per month for Precious Metals Ownership investment program (KLM).
Branch leaders BRI Syariah Malang, Educate Sudarsono, said the general in 2012, it charged for KLM target of Rp15 billion.
"From the target enters the first quarter of 2012 was on average during the month of Rp1 billion could be

INDONESIA - FINANCE - Shariah ETF Mutual funds need to be published

www.bisnis.com - JAKARTA: The company challenged the asset management mutual fund products issued Exchange Trade Fund (ETF) based on operational after the stock market authorities to unite in a group of Jakarta-based Islamic Shariah Index (JSI) and Indonesia Sharia Stock Index (ISSI).
Deputy Secretary Daily Board of the National Sharia Council (DSN) Kanny Hidaya said the market opportunity

INDONESIA - CAPITAL MARKETS : DSN MUI - Issuer ready to publish SUKUK 5 CORPORATE

www.bisnis.com - JAKARTA: The National Islamic Council of Indonesia Ulama Council stated that there are at least five listed companies to issue corporate sukuk this year.

Kanny Hidaya Y, Deputy Secretary of the Board of the National Islamic Council of Ulama Indonesia (DSN-MUI), optimistic penerbitkan corporate sukuk this year is brighter than last year, because there are a number of issuers who

INDONESIA - CAPITAL MARKETS - Mayora offer Rp750 billion Sukuk bonds

www.bisnis.com - JAKARTA: Issuers of processed foods Mayora Indah Tbk PT intends to offer a corporate bond and sukuk mudaraba IV/2012 II/2012 on 9 April to 23 April.
It was submitted by issuers of shares and bonds MYOR effects were coded in the newspaper today, 4 April 2012. The Company predicts that the bond-ranked idAA will get an effective statement from Bapepam-LK on May 1 and listed on

BRUNEI - TAKAFUL - Brunei Insurance and Takaful Association BITA : 'New insurance body to be set up this year'

www.bt.com.bn- A NEW insurance association, expected to be established this year will group Islamic insurers and work to level the playing field with their conventional counterparts in Brunei, as well as set up a watchdog body and more ground rules to increase the industry's credibility, publisher Oxford Business Group (OBG) said in its latest, annual economic overview on the Sultanate.

Helen

INDONESIA - CAPITAL MARKETS - Mayora Indah and Bank Muamalat to issue 'sukuk'

www.thejakartapost.com - Publicly listed food-producer PT Mayora Indah Tbk and PT Bank Muamalat Indonesia Tbk plan to issue sukuk, or Islamic debt papers, this year in the hopes of raising Rp 250 billion (US$27 million) and Rp 800 billion, respectively, the National Sharia Council says.

Mayora Indah will launch its sukuk on Monday while Bank Muamalat, which runs according to Sharia banking

BRUNEI - HALAL - Belgium eyes tie-up in halal certification

www.bt.com.bn - A BUSINESS delegation from Belgium that is keen to partner with Brunei on potential bilateral collaboration would need to meet a stringent requirement in terms of halal certification, says the Director of Administration at the State Mufti's Office.

Speaking to The Brunei Times, Dato Paduka Ahmad Bukhari Pehin Siraja Khatib Hj Abu Hanifah said yesterday there were interesting and