MALAYSIA - BANKING - Maybank IB downgrades BIMB to 'sell'

www.btimes.com.my -Maybank IB Research has downgraded BIMB Holdings Bhd to "sell" from "buy"’ as it sees the recent run-up in the Islamic financial institution’s share price as excessive.

“Much as we continue to view Bank Islam’s and Syarikat Takaful Malaysia Bhd’s (BIMB’s units) prospects positively, the recent run-up in BIMB’s share price is cause to pause and take stock,” the research house said in a note on Monday. (source)

MALAYSIA - BANKING - Maybank Islamic reports 50/50 split of Muslim/non Muslim customers

www.cpifinancial.net  - Product innovation and knowledge of local market wins over customers of any religion, according to Maybank Islamic’s CEO, Muzaffar Hisham.

The demographic of Maybank Islamic’s customers is a 50/50 split of Muslims/non Muslims, Hisham revealed to Islamic Business & Finance on the sidelines of the 3^rd World Islamic Banking Conference Asia Summit.
“One of the reasons is because we are able to price our products to be more competitive, secondly we have some advantages from the Government including tax incentives – not big ones, but small ones but that helps,” said Hisham. (source)

INDONESIA - BANKING - Maybank Islamic banking can spur national passion

www.bisnis.com - BANDUNG: The presence of the largest financial services group from Malaysia, Malayan Banking Berhad or Maybank, who is preparing to set up a home office base in Indonesia is believed to spur the development of Islamic banking passion grew more aggressive.
 Chairman of the National Sharia Council (DSN) Maruf Amin said the planned opening of the office because Indonesia has an open market of Islamic banking.
 "Indonesia has a Muslim population of the lot. It is a marketable, "he said in Bandung Islamic Finance events & Investment Summit (BIFIS), 2012, Tuesday (May 29).  (source)

INDONESIA - BANKING - Bank Islam remains interested in buying a stake in an Islamic bank in Indonesia

www.thestar.com.my - PETALING JAYA: Bank Islam Malaysia Bhd is still keen on buying a stake in a Islamic financial institution in Indonesia, but is awaiting further clarification on the country's shareholding regulations for commercial banks.
BIMB Holdings Bhd group managing director and chief executive officer Johan Abdullah said no decision has been made on potential Indonesian acquisitions for now.
“At this juncture, we are still exploring and collecting data,” he told reporters after the group's 15th AGM. (source)

INDONESIA - BANKING - Maybank Islamic eyes region

www.thestar.com.my - THE buzz of activity at Maybank Islamic Bhd is a sign that's most welcome to its CEO Muzaffar Hisham. It is the largest Islamic bank in the country which had seen assets grow to US$23bil (RM70.32bil) at the end of last year and the hectic movement within the corridors of the bank is an indication of the momentum it has built.
Having built its position through the Islamic window at parent Malayan Banking Bhd's branches, Maybank Islamic is now looking to branch out its success formula into the region.
Looking at a wider regional perspective, Muzaffar says there are still pockets of opportunities for the bank to expand and grow its presence. 
“The key markets that we like to focus on are Singapore and Indonesia, and we saw that when we were able to grow our cross-border financing to Indonesia to US$500mil to US$600mil from basically nil after changes in the tax structure,” he says.  (source)

INDONESIA - BANKING - Maybank Islamic targets 15-18% growth

www.thesundaily.my - KOTA KINABALU (April 21, 2012): Maybank Islamic Bhd is targeting to grow its assets in the region of 15-18% this year, says chief executive officer Muzaffar Hisham.
He said the bank now enjoys growth in both the corporate and customer segments, although they are still cautiously optimistic about growth this year.
"This is the advantage of our business as the growth is coming from both sides. We have a target for our bottom line which has been reported, and we hope to touch a pre-tax profit of RM1 billion.
"However, we have three more quarters to go and I'm extremely cautious on the economy but we still want to grow, although we want to grow cautiously and responsibly," he told the media in conjunction with Permodalan Nasional Bhd's unit trust week here today. (source)

INDONESIA - BANKING - BANK MERGER: Evaluation & BII Maybank Islamic finalized this year

www.bisnis.com - JAKARTA: PT Maybank Islamic Indonesia optimistic to complete the evaluation plan of merger with Islamic business unit of PT Bank International Indonesia Tbk this can be completed in the year.
Indonesia President Director of Maybank Islamic Ibrahim Hassan said the merger plan itself is still not final because the company has not found the right business model.
"We're still evaluating the model. We hope the evaluation can be completed this year," he said in the midst of Islamic Finance Forum, 17 April 2012.  (source)

MALAYSIA - BANKING - Maybank Islamic unveils card for the affluent

www.btimes.com.my - KUALA LUMPUR: Maybank Islamic Bhd has unveiled Maybank Islamic Ikhwan Visa Infinite, a card that it claims offers the best one-for-one privileges from flight tickets, dining to golf.

The card, launched at the World Halal Research Summit last week, is for the affluent market of 35-years-old and above with an income of RM240,000 a year.

Maybank Islamic chief executive officer Muzaffar Hisham said the launch is in line with the bank's commitment to empower card members with its suite of privileges that extend from luxury travel to fine dining. (source)

INDONESIA - BANKING - Maybank Islamic to expand in Indonesia, Singapore

www.btimes.com.my - NEW FOCUS: Bank wants to see increased cross-border transactions, especially in wholesale banking


MAYBANK Islamic Bhd (MIB), already the region’s largest Islamic bank by asset size, is pursuing an aggressive stance to further strengthen its pres-ence in Indonesia and Singapore.

Chief executive officer Muzaffar Hisham said after giving priority to its domestic operations in the last few years, MIB will be focusing more on growing its regional business this year.  (source)

SINGAPORE -BANKING - Bureaucracy holds up Singapore

www.theislamicglobe.com - ingapore’s path to Shari’ah compliant home financing is being blocked by bureaucracy.
The Islamic Globe recently reported [see Issue 44] on the absence of Islamic home financing products despite the Monetary Authority of Singapore having legislated for a range of Shari’ah compliant Islamic banking structures.  (source)

INDONESIA - BANKING - Last year Islamic banking grew 40 %

JAKARTA: Indonesia optimistic about the growth of Bank of the Islamic banking industry in 2012 is still above 40%, although overshadowed by the national economic slowdown caused by the global crisis.
Some factors to driving industry growth is the performance of the newly established Islamic bank in 2010, the birth of new Islamic banks, to the penetration of foreign capital.
Mulya Siregar, Director Islamic Banking Bank Indonesia (BI) is optimistic the industry assets will grow over 40% by looking at the development of a number. Islamic banks which stood since 2010.  (source)

MALAYSIA - BANKING - Maybank Islamic Market Share in Asean 27%

JAKARTA - Bank Syariah largest commercial in Malaysia, Maybank has a market share of Islamic Sharia financing in ASEAN by 27 percent and deposits by 21 per cent sharia.

Maybank Islamic total assets reached 66 billion ringgit, and recorded a growth of 49 percent on an annual basis, said President & CEO of Maybank, Dato 'Sri Abdul Wahid Omar in Tanjung Ipoh, Kuala Segment on Monday.  (source)

INDONESIA - APPOINTMENTS - Maybank Islamic Appoints Ibrahim Hassan as chairman

JAKARTA, Indonesia PT Maybank Islamic (Sharia Maybank) in Jakarta, Wednesday (5 / 10), has been appointed as President Director Ibrahim Hassan Abd replaces Baharudin. Majid.

Ibrahim Hassan, who was previously CEO of Maybank Islamic, will continue the programs and policies that already exist today that focus on improving corporate infrastructure and advisory as well as the future also will continue the strategy of retail commercial development. (source)

MALAYSIA - BANKING - Maybank Islamic Expects Consistent Contribution From Asset Financing

BERNAMA.COM - KUALA LUMPUR, Oct 4 (Bernama) -- Maybank Islamic Bhd expects its contribution from asset financing to the Maybank Group in the current financial year to be consistent with the previous year.

Its chief executive officer Muzaffar Hisham said almost one third of the Maybank Group's asset financing in Malaysia came from Islamic assets in the last financial year ended June 30, 2011.  (source)

INDONESIA - LEASING - Al Ijarah focus on retail

JAKARTA-PT Al-Ijarah Indonesia Finance (ALIF) until the end of this year will focus on retail business instead of financing the corporate sector, because the market is very promising.

President Director of PT ALIF, Herbudhi S Tomo here on Friday said the company originally did business financing to corporations, but the growth is far slower than the retail sector.

"Therefore, with the remaining time available, the company will focus its attention to the retail market is still pretty good," he said. (source)

INDONESIA - BANKING - Savings drive growth of Islamic banking in Indonesia

Indonesia, the world's most populous Muslim country with a population of over 210 million, ought to have a natural fit with Islamic banking, finance and insurance. Indeed, the mobilization of domestic savings through Islamic banking is expected to help drive the growth of the Indonesian banking industry, according to Indonesian Vice President Boediono. (source)

WORLD - CAPITAL MARKETS - Third party guarantees for sukuk set to take off

One of the positive outcomes of the 36th annual board of governors meeting held in Jeddah last month was the approval by the Board of Directors of the Islamic Corporation for the Insurance of Export Credit and Investment (ICIEC), the standalone export credit and political risk insurance agency of the IDB Group, of the corporation's capital from the current $240 million to $640 million. (source)

INDONESIA - BANKING - BII's Syariah Unit to Likely Merge into Maybank Syariah

Theindonesiatoday.com - Shariah unit of PT Bank International Indonesia Tbk (BII) is likely to merge into PT Bank Maybank Syariah Indonesia (Maybank Syariah), Investor Daily reported this morning.

Dato Sri Abdul Wahid Bin Omar, president and chief executive officer (CEO) of Maybank and BII's commissioner, said the shareholders of both companies have yet to make decision but he admits both parties have plan for merger.(source)

MALAYSIA - BANKING - Maybank Islamic assets to grow 40pc (Maybank Syariah Indonesia)

JAKARTA: Maybank Islamic Bhd, Asia-Pacific's largest syariah lender, sees an increase in its contribution to the group‘s profit to 20 per cent in the next three years from the current 16 per cent, said President and Chief Executive Officer of Malayan Banking Bhd (Maybank) Datuk Seri Abdul Wahid Omar.

For its nine months financial period ended March 31, 2011, Maybank Islamic recorded a pre-tax profit of RM631.9 million. (source)

BRUNEI - BANKING - Maybank Islamic eyes ties with Brunei banks

MAYBANK Islamic plans to explore collaborations with banks in Brunei, Middle East, Hong Kong and China in a bid to promote Islamic finance.

Maybank Islamic yesterday said it had signed a memorandum of understanding with Indonesia's Bank Syariah Mandiri to establish cross-border collaboration in all Islamic treasury and trade finance matters.

Maybank Islamic said the collaboration would set the terms of cooperation between the two institutions in relation to enhancing cross-border liquidity flows and, as well as, increasing and diversifying the application of Islamic financial solutions. (source)