INDONESIA - EVENTS - Jakarta Association of Issuers AEI Members Benefit Financing the Sharia Push

JAKARTA-Indonesia Association of the Issuer (AEI) encourages its members are listed on the Indonesia Stock Exchange (BEI) to take advantage of financing Islamic banking."There are 300 listed companies that are members and AEI is ready to facilitate issuers who wish to take advantage of Islamic banking to finance them," said Chairman of AEI Airlangga Hartanto in his speech at the seminar and Business Investors Daily gathering with the topic of Corporate Opportunities Obtain Financing the Sharia in Baliroom Kempinsky Hotel Jakarta, Thursday (17/11), which was read Partawijaya Yan AEI Secretary General. (source)

INDONESIA - BANKING - Indonesia bars bank M&A, pending new ownership rules

JAKARTA, Aug 12 (Reuters) - Indonesia's central bank temporarily barred takeovers in the banking sector, citing upcoming ownership rules, sowing more uncertainty about the regulatory environment in Southeast Asia's biggest economy.

Indonesia's expected imposition of bank ownership limits, including those on foreign investors, have already scuttled some cross-border deals. If the limits are imposed retroactively, as some expect, then several offshore investors and banks will have to cut their stakes in local lenders.(source)

OPINION - Indonesia Reviews Shariah Loan Restructurings: Islamic Finance

original post : http://islamicfinanceindonesia.blogspot.com/2010/08/2010-august-18th-indonesia-reviews.html

 As you ca imagine, my attention got drawn to this news item.


The following passage was the most important : “Shariah banks have asked that loans that are still current can be restructured,” Mulya Siregar, director of Islamic banking at the central bank, said in an interview in Jakarta yesterday. “We’re having intensive discussions and will make a decision by the fourth quarter at the latest.” Current regulations issued in 2008 only permit terms to be altered once debt turns non-performing, Siregar said."