INDONESIA - CAPITAL MARKETS - Corporate Sharia bond issues are at low level, Bapepam-LK says

JAKARTA: Poor socialization is considered to be the reason of low issuance of corporate Sharia bonds this year. Currently there is only Bank Sulselbar issuing sukuk Mudharabah.

Sukuk Bank Sulselbar itu adalah sukuk pertama senilai Rp100 miliar dan akan jatuh tempo pada 12 Mei 2016.
This sukuk Mudharabah is the first IDR100 billion-worth sukuk and matures on 12 May 2006. (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 - 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.