INDONESIA - BANKING - SRB Hold PT Pos Indonesia

WWW.REPUBLIKA.CO.ID, JAKARTA - In order to expand the reach, SRB Al Salam with PT Pos Indonesia (Persero) in receipt of the installment financing of customers' deposits BPRD Al Salam. Financing can now be done through the office, outlet, and postal services around the PT Pos Indonesia.

"Customers can make transactions through the entire Postal outlets throughout Indonesia," said Director of PT BPR Islamic Amal Al Salaam Salman, Cahyo Kartiko, as it is written in a release received by Reuters on Wednesday (18/4).  (source)

INDONESIA - REGULATIONS - Government Issue 2 Sharia Tax Rules

Jakarta (16 / 2) The Government has issued two regulations governing the imposition of income tax on business activities of Islamic finance and Islamic banking activities.
Rudaedi Smith, Director of Counseling Services and Public Relations Directorate General of Taxation Ministry of Finance, in a press statement on Monday (01.16.12) says the first rule is published 136/PMK.03/2011 Regulation of the Minister of Finance Number of Income Tax for Financing Activities Sharia.  (source)

BANKING - Asian Growth Attracts Shariah Banks From Gulf: Islamic Finance - Al Salam - Asia Finance Bank

Aug. 10 (Bloomberg) -- Al Salam Bank BSC, Bahrain’s fastest-growing lender by revenue in the past year, plans to invest $500 million of Islamic funds in Asia, joining Saudi Arabia’s Al Rajhi Group in tapping the region’s growth.

Al Salam Bank will put funds into real estate, agriculture and food in the next five years, focusing on Malaysia, Indonesia and Singapore, Yousif A. Taqi, chief executive officer at the Manama-based bank, said in an interview on Aug. 5. Al Rajhi is looking to invest $200 million in Asian property, Jonathan King, director at AEP Investment Management Ltd., which is 80 percent owned by the Saudi group, said on Aug. 2 in Singapore.