INDONESIA - BANKING - BNI Syariah gold mortgage financing shrinks 64%

www.kontan.co.id - BANDUNG. In the first quarter of this year, BNI Syariah gold lien financing shrank 64% to Rp 210 billion, compared to fourth quarter 2011 reached Rp 590 billion.

Meanwhile, when compared with March last year which amounted to Rp 562 billion, the financing in the first quarter of this year also recorded fell by 62%.

Business Director Bambang Widjanarko said BNI Syariah, the decline in mortgage financing distribution of gold, due to a temporary suspension of business activity following the new rules as stipulated in Bank Indonesia Circular Letter No. 14/7/DPBS dated March 1, 2012.  (source)

INDONESIA - REGULATIONS - Bank Indonesia Circular Letter dated February 29, 2012 No.14/7/DPbS about Gold Backed Qardh Products for Islamic Banking and Sharia

www.bi.go.id - Bank Indonesia Circular Letter dated February 29, 2012 No.14/7/DPbS about Gold Backed Qardh Products for Islamic Banking and Sharia

SE publishing is intended to provide a reference for Islamic banking in the run products Qardh Backed Gold, which is the implementation of Bank Indonesia Regulation Number 10/17/PBI/2008 about Islamic Banking Products and Sharia.
This provision applies to Commercial Bank of Sharia, Sharia and BPRS Gold Backed Qardh product characteristics (features) as follows: (source)

INDONESIA - BANKING - The Customer is prohibited Pledge $ 250 Million More Gold

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) has finally set a ceiling of gold mortgage financing in Islamic banks. Provision will be published in the Circular Letter (SE).

"Ceiling (financing) to Rp 250 million, yes. Value up from Rp 100 million, "said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (17/2). (source)