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 only exist in the conventional, can be adopted by Islamic banks.
Along with the move, the central bank is also being carried out studies of the regulation of Islamic monetary operations are expected in the not too old to do the adjustment.
"So the next target of Islamic banks can also avail of foreign currency deposit scheme similar term," he told Business Today Sunday, June 10, 2012.  (source)


Meanwhile, Finance Director Andi Muamalat Buchari, rate of Islamic banking has not really need the kind of term deposit instruments because there is still lack of foreign currency transactions denominated in U.S. dollars.
"We have a lot of forex because NOP [net open position / net open position] only 3%, while the maximum limit of 20%," he said.
In addition, he continued, the company still has a place on the placement of foreign currency liquidity in a number of nostro accounts in foreign correspondent banks. "Our branches in Malaysia are also very helpful because it puts the bank in Malaysia."
In the scope of Islamic banking, interbank money market, denominated in U.S. dollar is also not very active in the transaction.
However, Andi looked at the problem rather than on the Interbank Money Market segmentation problem as with the conventional, but still at least the status of Islamic bank foreign exchange bank.
"SATISFIED [Islamic interbank money market] exchange is not very active because only a few banks that manage the dollar," he said. (Arh)

BI kaji aturan valas berjangka syariah

Oleh Donald Banjarnahor

Minggu, 10 Juni 2012 | 16:01 WIB

JAKARTA: Bank Indonesia sedang melakukan kajian untuk membuat instrumen sejenis penempatan berjangka valuta asing bagi perbankan syariah.

Difi A. Johansyah, Direktur Grup Humas Bank Indonesia (BI), mengatakan Departemen Pengelolaan Moneter bank sentral sedang melakukan kajian agar instrumen penempatan berjangka (term deposit) valuta asing yang saat ini hanya ada di konvensional, bisa diadopsi oleh perbankan syariah.

Seiring dengan langkah itu, bank sentral juga sedang dilakukan kajian dari sisi regulasi operasi moneter syariah yang diharapkan dalam waktu yang tidak terlalu lama dapat dilakukan penyesuaian.

“Jadi target ke depan bank syariah juga dapat memanfaatkan skim sejenis term deposit valas,” ujarnya kepada Bisnis, hari ini Minggu 10 Juni 2012.

Sementara itu, Direktur Keuangan Bank Muamalat Andi Buchari, menilai perbankan syariah belum terlalu membutuhkan instrumen sejenis term deposit valas karena masih minimnya transaksi berdenominasi dolar AS.

“Valas kami belum banyak karena NOP [net open position/posisi devisa neto] baru 3%, sedangkan batas maksimum 20%,” ujarnya.

Selain itu, lanjutnya, perseroan masih memiliki tempat penempatan likuiditas valas pada sejumlah rekening nostro pada bank koresponden di luar negeri. “Cabang kami di Malaysia juga sangat membantu karena menempatkan pada bank di Malaysia.”

Di lingkup perbankan syariah, pasar uang antar bank berdenominasi Dolar AS juga tidak terlalu aktif dalam transaksi.

Meski demikian, Andi memandang permasalahannya bukan pada persoalan segmentasi PUAB seperti yang terjadi pada konvensional, tetapi masih sedikitnya bank syariah berstatus bank devisa.

“PUAS [pasar uang antar bank syariah] valas tidak terlalu aktif karena hanya sedikit bank yang mengelola dolar,” ujarnya. (arh)

Source: http://www.bisnis.com/articles/bi-kaji-aturan-valas-berjangka-syariah  - June 10, 2012 - google translate