INDONESIA - BANKING - Gold Pawn Islamic banks still shining

www.kontan.co.id - JAKARTA. After a three-month slide, gold pawn restriction rules taking effect for the Islamic banking industry. Bank with a portfolio of gold pawn is too high, posting a decline in financing during the first half of 2012. Meanwhile, a new Islamic bank in business, enjoying a fantastic surge in financing nan.
BRI Syariah, BNI Syariah, and Bank Syariah Mandiri, including a slowdown. In addition to their gold financing business was suspended, the three largest Islamic bank is also no longer jor-rod. According beleid BI, bank financing may only deliver a maximum of 20% gold of the total financing or a maximum of 150% of bank capital.  (source)

INDONESIA - BANKING - Bank Mega Syariah’s net profit jumps three folds on effective liquidity management

www.bisnis.com - JAKARTA: PT Bank Mega Syariah, a subsidiary of PT Bank Mega Tbk, earned net profit of IDR119 billion in the period from January to June 2012, increased more than three folds compared with the previous year of IDR39.45 billion.

Beny Witjaksono, Managing Director of Bank Mega Syariah (BMS), said the increase in profits sustained by the expansion of funding and effective liquidity management so that the cost of funds can be suppressed.

"We have a strategy to hold the funding sources by keeping financing to deposit ratio/intermediation ratio[FDR] at 90% - 92%. It makes our profit grow well compared with last year when the FDR was at 80%," he told Bisnis, Wednesday (25/7/2012).  (full story)

INDONESIA - CAPITAL MARKETS - Bank Muamalat Readies for Rp 1.5t Islamic Bond Sale

www.thejakartaglobe.com -Bank Muamalat, the country’s top Islamic bank, plans to sell Islamic bonds worth Rp 1.5 trillion ($159 million) over the next two years to boost lending.

The Jakarta-based lender aims to sell Rp 500 billion in July this year, it said in a brief prospectus published in Bisnis Indonesia newspaper on Wednesday.

It will offer the notes to investors on June 25-26, with a planned listing on the Indonesia Stock Exchange on July 2. It will sell the final Rp 1 trillion next year.  (source)

INDONESIA - BANKING - Two Islamic Banks Limit Gold Pawning

JAKARTA (IFT) – PT Bank Syariah Mandiri, a subsidiary of PT Bank Mandiri Tbk (BMRI) and PT Bank Mega Syariah, a subsidiary of PT Bank Mega Tbk (MEGA)will limit the portion of the distribution of gold pawning to a maximum of 10 percent of the total financing provided by companies, according to bank officials. Currently, the management of both banks holds a study with Bank Indonesia on gold mortgage risk management, among others the portion of loan to value (LTV) and the mortgage term.(source)

INDONESIA - BANKING - BNI Syariah Present in Bali

REPUBLIKA.CO.ID, Denpasar - Bali add to the collection of Islamic banking. This time BNI Syariah, opened a branch office in Bali. "The response is pretty good people, many who have responded," said BNI Denpasar District Leader, Johnny R Tampubolon.

It was raised Tampubolon in Denpasar, Bali. In a related press conference BNI Media Gathering, Tampubolon said, many customers are asking BNI BNI's sharia service and they give a positive response.  (source)

INDONESIA - BANKING - Mega Syariah's assets shrink by IDR200 billion

JAKARTA: PT Bank Mega Syariah, a sharia-based bank belonging to tycoon Chairul Tanjung, saw its assets shrink by IDR200 billion, or 4.3%, because of lower deposits at end of August.

The bank's assets reached IDR4.4 trillion at end of August, decreasing from IDR4.6 trillion at end of 2010, said President Director Beny Witjaksono. (source)

INDONESIA - EDUCATION - IBFI degree International Seminar of Islamic Finance

Jakarta (22 / 9) - Human Resources (HR) a capital importance for the development of Islamic finance industry, especially in the face of global financial trends. Therefore, today's Islamic Banking Finance Indonesia (IBFI) Trisakti as one educational institution to hold an international seminar of Islamic finance, titled "Islamic Finance: Towards Achieving Greater Financial Inclusion".  (source)

INDONESIA - BANKING - Bank Syariah Mega posts lower asset, due to productivity strategy

JAKARTA: PT Bank Syariah Mega Indonesia reported asset of IDR4.4 trillion as of August 2011, year-to-date lower than earlier asset at the end of 2010 worth IDR4.6 trillion.

 

The Para group's lender was unable to boost performance during July and August, for it already reported lower asset in June at IDR4.48 trillion. (source)

INDONESIA - BANKING - Bank Syariah Mega Pawn Gold Limit Maximum 10%

Jakarta (20 / 9) - Himbaun Bank Indonesia in order to limit the expansion of Islamic banking products gold pledge, echoed by the Bank Mega Syariah (BMS). BMS itself have limited its gold mortgage products up to 10 percent of the portfolio pembiaayan. (source)

INDONESIA - BANKING - Mega Syariah may offer Haji savings for babies from the age of one

REPUBLIKA.CO.ID, JAKARTA - Managing Director of Mega Syariah, Beny Witjaksono, claiming innovations in hajj savings being contemplated. "We examine how open to all sorts of ages, even from the age of one year," he said when met Republika.

He claimed the per capita income growth will increase several fold in the future. This makes the bank think about the concept of savings for all kinds of pilgrimage early age. (source)

INDONESIA - BANKING - Indonesian Islamic banks ask for more 'breath' in the management of Haji Funds

REPUBLIKA.CO.ID, JAKARTA - The Islamic Bank asked the government to give a little breathing for Islamic banks in managing the funds pilgrimage. Because the government policies that directly channel funds rated sukuk pilgrimage to burdensome and not giving motion to the Islamic banks to grow the business.

According to Director of Retail Banking Mega Syariah, Ani Murdiati, the government should give space for pilgrims to settle in advance of funds in Islamic banks. "Do not be immediately withdrawn all year, it is not fair for the banking," he said when met Reuters on the sidelines of Hajj Manasik Prime Bank Mega Syariah. (source)

INDONESIA - EVENTS - High level conference - Indonesia, Malaysia Look to Work Together to Boost Shariah Banking

The Indonesian and Malaysian central banks agreed on Monday to improve cooperation to boost the development of Islamic finance in the two nations.

“Islamic finance like Shariah banking is no longer just complementary but has now become a genuine alternative financing option,” said Darmin Nasution, the governor of Bank Indonesia. “So there is a strong need for Islamic banks in Malaysia and in Indonesia to improve their cooperation and develop the Islamic finance market.’’  (source)

INDONESIA - FINANCE - 75% of fund Management of Islamic Hajj

Jakarta (11 / 7) - Dana pilgrims who are in government now began a dominant run by sharia. The data was recorded last June was 75% of the funds contained in the existing Hajj Islamic instruments.

Director of the Ministry of Religious Pilgrimage Fund Management, Drs.H. Achmad Djunaidi revealed that the greatest pilgrimage funds contained in sukuk. "Now 75 percent of the sharia, 25 percent in conventional banks. Most of the funds contained in the sukuk about 60 percent, "he said. (source - google translate)

INDONESIA - BANKING - Kaltim Sharia Banking Market Share Reaches 5 Percent

REPUBLIKA.CO.ID, BONTANG - market share (market shared) Islamic banking in East Kalimantan reached five percent. This figure is greater than the national market share of Islamic banks by 3.4 percent.
According to the Area Manager Muamalat Indonesia (BMI) Kalimantan region, Hasmal Sunadi, East Kalimantan people are more familiar with the concept of Islamic banking. Enthusiasm''very large community,''he told Reuters on Tuesday (28 / 6). (source)

VIDEO - BRANKAS BANK MEGA SYARIAH DIRAMPOK

Video here or hereunder.

BANKING - Assets of Sharia banks penetrates to IDR100 trillion

JAKARTA: The assets of sharia banks has penetrated IDR100 trillion by the end of December 2010 or grew beyond the expected target at the beginning of the year.

Deputy Director of Sharia Banking Directorate Bank Indonesia Mulya Siregar said that the asset has grown significantly within a month at the end of last year.

"Sharia banking assets jumped IDR7 trillion in December from IDR93 trillion in November, which showed the improvement of Sharia banking performance," he said, yesterday.

FINANCIAL MARKETS - Mega Syariah issues IDR300 billion bond

JAKARTA: PT Bank Syariah Mega Indonesia plans to issue IDR300 billion bond to support the expansion of corporate financing this year.

Director of Bank Mega Syariah Beny Witjaksono said the bond issuance to be conducted in quarter II/2011.

Currently, he said, the company’s capital adequacy ratio (CAR) is still within secured area at 12.4%.

“We still have no plan to add the capital in first quarter but it is possible that we will conduct bond issuance in second quarter,” he told Bisnis, yesterday.

ARTICLE - Cost Components as Predictors for the Profitability of Sharia Banks (Study on PT Bank Syariah Mandiri and PT. Bank Syariah Mega Indonesia)

Mokhamad Anwar - Cost Components as Predictors for the Profitability of Sharia Banks (Study on PT Bank Syariah Mandiri and PT. Bank Syariah Mega Indonesia) 

ARTICLE - Cost Structure in Indonesian Islamic Banks: Case on PT. Bank Syariah Mandiri and PT. Bank Syariah Mega Indonesia

Mokhamad Anwar - Cost Structure in Indonesian Islamic Banks: Case on PT. Bank Syariah Mandiri and PT. Bank Syariah Mega Indonesia