BANKING - Elaf Bank Expansion to RI

Elaf will fund a number of projects and work with BMI.

JAKARTA-Islamic Bank began financing Elaf independent debut in Indonesia. Elaf Bank was appointed lead arranger for fundraising reached 84 million through the issuance of sukuk offshore for financing a number of projects in the country. 

In the work samatersebut, Precious International Advisory (PIA) was appointed as financial advisors. From the results of the issuance of sukuk, funds amounting to 62 million US dollars will be used by Java Energy Universe (JES) to finance the construction of gas compression station project and table in the three regions. (full story)

Meanwhile, the rest of the other funds by 22 million used Partners Enduring Raharja (MAR) for financing the construction of the minihidro power plant 2 x 4 MW in Jambi. Chief Executive Officer of Elaf Bank, Jamil El-Jaroudi, said it is now doing a feasibility study for the issuance of sukuk. “We are still doing due diligence to see the structure of what to taste the market as well as regulation and taxes. If the whole preparation was completed, the new us specify type sukuk and tenornya, “said El Jaroudi signing cooperation Elaf Bank here on Wednesday (12/5).

El Jaroudi was confirmed, the issuance of sukuk would be done as soon as possible after the due diligence done. In addition to market such in the international market the sukuk, such as the Middle East and Gulf region, the Elaf Bank also will do deals in Indonesia so that local investors can participate.Chairman PIA, Ishartanto, say, Islamic Countries ACT Securities that was passed in 2008 to encourage financing conception of halal in Indonesia. For that, it also attempted to bridge the entrepreneurs who have difficulty accessing the conventional financing due to the complex requirements into Islamic financing. “With a population of Indonesia is about 85 percent Muslim, is expected in this Islamic financing menjadikebiasaan, “said Ishartanto.

Meanwhile, Corporate Service Director JES, Joseph MJ Renwarin said, Islamic financing are also to be a first for JES. “Elaf Bank interested in developing business projects gas and we capture these opportunities. Therefore, we are also keen to work together, “said Joseph. Commissioner MAR, Hamdani M Shah, declared, in Jambi are electricity demand reaches 30 MW, but it is now the new top 12 MW capacity. “With the cooperation of Islamic financing, at least an additional electricity 8 MW can be met,” said Hamdani.

Expansion

Previously, the Elaf Bank has developed cooperation with the syndicated bank facility ijarah in Indonesia worth of other Islamic 31 million dollars for Indonesia Air Transport. El-Jaroudi rate, Indonesia is quite prospective for investment, but he could not disclose the amount of the plan the placement of investment in Indonesia. “We can’t promise how investment to Indonesia because of the open opportunities that are dependent on the front of the eye and how the response as well as the tastes of the market, “said El-Jaroudi.

For financing, the Bank enters into all the Elaf sectors in accordance with Islamic principles, such as manufacturing, healthcare, and infrastructure. See the prospects of economic growth of Southeast Asia, the Bank also intends to expand the Elaf network operations by opening branches in the region. However, El-Jaroudi has not been able to determine the location. “No close chances did we get to Australia because we also want to introduce the wider Islamic finance, “shot El-Jaroudi. ed yeyen

Source : http://pjperu.org/elaf-bank-expansion-to-ri/ - April 22, 2011
Source picture : http://www.bataviase.co.id/node/211092 - April 22, 1011