TEMPO Interactive, Jakarta:The Indonesian Real Estate Deputy chairman, Handi Pranata, is urging Syariah banks to become an alternative for financing the property sector in Indonesia.
So far, Syariah banks can only finance three percent of the national property needs.
“It is still minimal, but there are still many chances that can be used,” Handi said in Jakarta yesterday.
He said there are reasons why people are reluctant utilizing Syariah banks.
First, they have terms that are difficult for the customers to understand.
“This can be dealt with better information dissemination or simplifying the terms,” he said.
Secondly, there is an opinion that only Muslim customers can use Syariah banks’ facilities. “This is not true.”
Handi compared Indonesia’s property condition with that of Malaysia.
Although there are only 60 percent of Muslims in the population, Syariah banks can finance up to 15 percent of the property sector there.
According to Handi, the property trend is currently on the rise.
This can be seen with the many developers building properties in areas like Surabaya, Makassar, Batam, and Pekanbaru.
The recovery in the property sector has reached 80 percent compared to the condition before the economic crisis in 1998.
Halim Alamsyah, Bank Indonesia Deputy governor, confirmed Handi’s opinion.
Halim said the people’s need for decent home continues to increase. As such, the government and developers must build low-cost rental flats for the upper-lower group.
Halim hopes that Syariah banks can finance the property sector.
“I call on Syariah banks to become an important component in property ownership,” he said, adding that Syariah banks have a normal non-performing loan rate in property financing.
One of the syariah banks that are intensively disbursing property credits is Bank Permata Syariah.
Up until last September, Bank Permata has disbursed Rp 1.5 trillion from the annual target of Rp1.7 trillion.
From that target, finances for the housing sector amounted to Rp 300 billion.
"We are targeting the upper middle group," said Achmad Permana, Syariah Banking Permata’s Executive Vice President Head.
ANTON WILLIAM
So far, Syariah banks can only finance three percent of the national property needs.
“It is still minimal, but there are still many chances that can be used,” Handi said in Jakarta yesterday.
He said there are reasons why people are reluctant utilizing Syariah banks.
First, they have terms that are difficult for the customers to understand.
“This can be dealt with better information dissemination or simplifying the terms,” he said.
Secondly, there is an opinion that only Muslim customers can use Syariah banks’ facilities. “This is not true.”
Handi compared Indonesia’s property condition with that of Malaysia.
Although there are only 60 percent of Muslims in the population, Syariah banks can finance up to 15 percent of the property sector there.
According to Handi, the property trend is currently on the rise.
This can be seen with the many developers building properties in areas like Surabaya, Makassar, Batam, and Pekanbaru.
The recovery in the property sector has reached 80 percent compared to the condition before the economic crisis in 1998.
Halim Alamsyah, Bank Indonesia Deputy governor, confirmed Handi’s opinion.
Halim said the people’s need for decent home continues to increase. As such, the government and developers must build low-cost rental flats for the upper-lower group.
Halim hopes that Syariah banks can finance the property sector.
“I call on Syariah banks to become an important component in property ownership,” he said, adding that Syariah banks have a normal non-performing loan rate in property financing.
One of the syariah banks that are intensively disbursing property credits is Bank Permata Syariah.
Up until last September, Bank Permata has disbursed Rp 1.5 trillion from the annual target of Rp1.7 trillion.
From that target, finances for the housing sector amounted to Rp 300 billion.
"We are targeting the upper middle group," said Achmad Permana, Syariah Banking Permata’s Executive Vice President Head.
ANTON WILLIAM
Source : http://www.tempointeractive.com/hg/nasional/2010/10/25/brk,20101025-287045,uk.html - Oct 25, 2010
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