INDONESIA - BANKING - BRI Syariah focus on small economy

www.investor.co.id - JAKARTA-Bank intends to encourage BRISyariah lower middle-class economy with a range of services according to customers' needs.
"We want to always lift the economy down people by supporting their efforts in order to grow," said Director of PT. Bank BRISyariah Moch. Hadi Santoso, BRISyariah Headquarters, Jakarta, Thursday (9/8).
Hadi explained that it had teamed up to deliver small loans to cooperatives and BMT are spread throughout Indonesia.
He admitted that in a way that facilitates SMEs to manage their funds either in the form of deposits or loans.  (source)

INDONESIA - BANKING - BRI SHARIA Release Wrapped Insurance Savings

www.bisnis.com - JAKARTA: PT Bank BRI Syariah with PT Bringin Life Insurance Welfare issued saving products wrapped in insurance.

The product is called Dream Savings BRISyariah iB is a personal term deposits with the system auto-debit payments each month with a fixed period of time.

Director of Bank BRI Syariah Moch. Hadi Santoso said the product will be launched in August. "With this product, customers will benefit from insurance protection," he said at a press conference after the signing of the cooperation between the two parties today, Thursday (19/07/2012).  (source)

INDONESIA - BANKING - BRI Syariah: Hadi Santoso be president

www.bisnis.com - JAKARTA: Hadi Santoso uncertain position as Director of BRI Syariah, replacing the resigned Ventje Raharjo.

Business Resource reveals Hadi had begun carrying out his duties as President Director of BRI Syariah.

"Hadi BRI has already been approved by the management to take the position as President Director of BRI Syariah," he said, this morning, January 27, 2012. (Source)

CAPITAL MARKETS - Government’s First Infrastructure-Backed Sukuk Offer Welcomed

Indonesia’s first sale of local-currency sukuk backed by roads and railways may benefit from the rupiah’s 4.7 percent gain against the US dollar this year and higher sovereign debt yields relative to Malaysia.

“I’d buy the sovereign sukuk as I believe the rupiah has more room to strengthen,” Mohd Noor Hj A Rahman, chief executive at OSK-UOB Islamic Fund Management, said on Thursday. “Yields are more attractive if you compare to what other markets are offering. You can’t get such high yields in Malaysia.”  (full story)

PUBLICATIONS - Article - Implementation Strategy: Good Corporate Governance in Indonesian Islamic Bank

Implementation Strategy: Good Corporate Governance in Indonesian Islamic Banking

Ro’fah Setyowati#, Bedjo Santoso*
# Law Department University Kebangsaan Malaysia
Bangi, 43600, Malaysia
E-mail: rofahundip@yahoo.com

*International Islamic University Malaysia
Gombak, Malaysia
E-mail: birdjaww@yahoo.com

Proceeding of the International Conference on
Social Science, Economics and Art 2011
Hotel Equatorial Bangi-Putrajaya, Malaysia, 14 - 15 January 2011 (source)

CAPITAL MARKETS - Indonesia Dollar-Denominated Bonds Drop to Six-Week Low

Yields on Indonesia’s Shariah- compliant dollar-denominated bonds dropped to a six-week low as Southeast Asia’s largest economy moved a step closer toward winning an investment-grade rating.

The rate on the benchmark 8.8 percent Islamic note due April 2014 fell 7 basis points, or 0.07 of a percentage point, this week to 3.47 percent and reached 3.4 percent, the lowest level since Jan. 20, according to the Royal Bank of Scotland Group prices. (source)