INDONESIA - CAPITAL MARKETS - JFX set target of IDR 5 billion/day from syariah commodity transactions

pkesinteraktif.com - Jakarta (14/10)- Jakara Future Exchange (JFX)  or Bursa Berjangka Jakarta set target to have IDR 5 billion transaction daily in the first 3 months, as explained by JFX Director, M. Bihar Sakti Wibowo, During the launching ceremony, last Thursday, (13/10).  (source)

INDONESIA - CAPITAL MARKETS - Home / Economy / Islamic Finance / Indonesia to press ahead with issuance of sovereign sukuk Indonesia to press ahead with issuance of sovereign sukuk

Indonesia, the most populous Muslim country and potentially the largest market for Islamic finance, has received a major boost to press ahead with the issuance of its proposed benchmark global Islamic trust certificates (sukuk) which will be issued by Perusahaan Penerbit SBSN Indonesia II (PPSI II), a special purpose vehicle (SPV) on behalf of the Ministry of Finance of Indonesia. (source)

INDONESIA - CAPITAL MARKETS - JFX set target of IDR 5 billion/day from syariah commodity transactions

Jakarta (14/10)- Jakara Future Exchange (JFX)  or Bursa Berjangka Jakarta set target to have IDR 5 billion transaction daily in the first 3 months, as explained by JFX Director, M. Bihar Sakti Wibowo, During the launching ceremony, last Thursday, (13/10). (source)

INDONESIA - BANKING - Indonesia Islamic Financial World Ranking 4

Jakarta (14/10) - Indonesia has a proud achievement in Islamic finance. Country Index is based on Islamic Finance, Islamic financial industry was ranked fourth of the world Indonesia. Indonesia's position was under Iran, Malaysia, and Saudi Arabia.

"This ranking is quite encouraging because we are under major countries such as Kuwait, United Arab Emirates, and England," said Director of the Directorate of Islamic Banking Bank Indonesia, Mulya E Siregar, while giving a speech at the launch of commodity sharia in Jakarta, Thursday (13 / 10).  (source)

INDONESIA - CAPITAL MARKETS - JFX Target Commodity Transaction Achieving Sharia Rp 5 M

Jakarta (14/10) - Jakara Futures Exchange (JFX) or targeting the Jakarta Futures Exchange at an early stage in the last 3 months of this year, Islamic commodity transactions could reach USD 5 billion per day. This was said by M. Bihar Sakti Wibowo, Director JFX on the sidelines of the launch of Islamic commodity in Jakarta, Thursday (13/10).  (source)

INDONESIA - CAPITAL MARKETS - 3 Ready Commodity Commodity Exchange Traded on Sharia

Jakarta (14/10) - Of all the commodities that are in Indonesia, three new commodity exchange-traded commodities ready for sharia, namely coffee, cashew nuts, and cocoa. This is because the requirement for the commodity sharia minimum of every commodity traded by the three traders and three commodities are already eligible.  (source)

INDONESIA - CAPITAL MARKETS - Launch Islamic Commodity Market

Jakarta (14/10) - The presence of Islamic Commodity exchanges will contribute interconnected economy mean for Indonesia. This was disclosed, Trade Minister Mari Elka Pangestu, while giving a speech at the launch of Sharia Commodity exchanges in Jakarta, Thursday (13/10).  (source)

INDONESIA - CAPITAL MARKETS - Jakarta Futures Exchange to start Sharia-backed commodity products

thepeninsulaqatar.com - JAKARTA: The Jakarta Futures Exchange (JFX) will launch sharia-compliant commodity contracts next week, one month behind schedule, a director at the exchange said yesterday.

The exchange will launch contracts for five agricultural products of which Indonesia is a major exporter, including coffee, cocoa and raw cashew nuts, Bihar Sakti Wibowo, a director at the exchange told reporters.

The contracts were expected to be kicked off in mid-September. (source)

INDONESIA - FINANCE - Jakarta to unveil new Islamic finance tool

JAKARTA: Indonesia is introducing a tool that will enable Islamic lenders to earn returns on excess cash as part of the Southeast Asian nation's bid to bolster syariah-compliant banking assets by 35 per cent in 2011.

The instrument - to debut next month - will allow banks to buy and sell commodities such as palm oil, coal and cocoa at an agreed profit margin, while still complying with Islam's ban on interest. (source)

INDONESIA - CAPITAL MARKETS - DSN-BBJ Recommend Sharia Commodity

Jakarta, (9 / 8). National Sharia Council (DSN)-Indonesian Ulema Council (MUI) in Jakarta Futures Exchange (JFX) to socialize new syariah-based instruments commodity futures exchange, on Monday (8 / 8) in Jakarta. DSN himself has endorsed the fatwa number 82 on trading of commodities based on sharia principles, Friday (5 / 8) yesterday. (source)

INDONESIA - CAPITAL MARKETS - I: Commodity Alternative Sharia Islamic Banking

Jakarta (9 / 8) - With the passing fatwas number 82 on Trade by Commodity Based on Sharia Principles of National Islamic Council (DSN)-Indonesian Ulema Council (MUI), Islamic banking can have an alternative in dealing with liquidity management.

Director of Islamic Banking Bank Indonesia (BI) Mulya Siregar hope shariah banking can make the most of the fatwa to mengatasai problems in liquidity management. (source)

INDONESIA - CAPITAL MARKETS - Indonesia's JFX to launch sharia-backed commodity products

The Jakarta Futures Exchange (JFX) will launch sharia-compliant commodity contracts in September, an official said.

"We plan to launch this new physical trading product in mid-September," Bihar Sakti Wibowo, a director at JFX said late on Monday. 

"Both Indonesia's future trading regulatory body and National Sharia Council at Indonesian Ulema Association (MUI) have approved this new scheme," he added. (source)

FINANCIAL MARKETS - Jakarta Futures Exchange to create sharia products

JAKARTA: PT Jakarta Futures Exchange (JFX) is targeting to launch sharia futures commodity products (murabahah) in July 2011.

“Six months since January, you will see clearly of what murabahah products we are will launch,” said Director of BBJ Bihar Sakti Wibawa at a press conference in Jakarta this afternoon.

According to him, the company had just set up a partnership to create sharia products with National Sharia Council (DSN) last December.