INDONESIA - BANKING - Is it true that Islamic finance more attractive

www.antaranews.com - Jakarta (ANTARA News) - Some circles believe that Islamic banks Indonesia will continue to grow in line with the growing economy ramahnya Indonesia for investment.
Citing Directorate of Islamic Banking Bank Indonesia, the Islamic banking assets rose 35.55 percent in the fourth quarter of 2011 with a value of Rp135, 9 trillion.
That means Islamic banking assets reached 3.9 percent of total national banking assets. Previously, Bank Indonesia to target Islamic banking assets reached 200 trillion by the end of 2012. (source)

INDONESIA - BANKING - BII profit in 2011 increased 45 percent

www.antaranews.com - Jakarta (ANTARA News) - PT Bank International Indonesia (BII) recorded a net profit of Rp669 billion in 2011, a 45 percent increase compared to the previous year.

"Our hard work to regain the growth momentum has resulted in an increase in profits," said BII Acting Director Rahardja Alimhamzah in a written statement received here on Thursday. (source)

INDONESIA - REGULATIONS - OJK to have three executive commissioners

www.antaranews.com - Jakarta (ANTARA News) - The future Financial Services Authority (OJK) will have nine commissioners, including three executive commissioners, finance minister Agus Martowardojo said here on Friday.

"The task of executive commissioners is managing operational portfolios, such as supervising banks, capital markets and non-bank financial industries," he said.  (source)

INDONESIA - HALAL - RI`s halal food exports increasing

www.antaranews.com - Jakarta (ANTARA News) - Export of halal Indonesian food commodities to many Muslim and non-Muslim countries such as Japan, China and Singapore has increased.

According to Trade Ministry data, halal Indonesian food exports to Japan was up 25 percent, to China and Singapore 23 percent higher. (source)

INDONESIA - BANKING - CIMB Niaga Syariah posts Rp48.74 billion profit

Jakarta (ANTARA News) - CIMB Niaga Syariah, the sharia unit of CIMB Niaga Bank, said on Thursday its profit before tax surged 87 percent to Rp48.74 billion in the year ended September compared to Rp26.05 billion in the same period last year.

"Thank God, CIMB Niaga Syariah`s profit as per September 2011 climbed more than 80 percent compared to the same period last year," CIMB Niaga`s Retail and Sharia Banking Director Ferdy Sutrisno said in a statement on Thursday. (source)

INDONESIA - CLIPS - Halal Business and Food Expo : Indonesia mampu jadi pusat busana Muslim dunia (Aug 2011)

INDONESIA - CLIPS - Halal Business & Food Expo : Indonesia Pusat Halal Dunia (Aug 2011)

INDONESIA - ZAKAT - Baznas received Rp1.3 trillion in tithes so far

Bogor, West Java (ANTARA News) - The National Tithe Collecting Agency (Baznas) has this year received only Rp1.3 trillion in tithes (zakat) out of a target of Rp2 trillion, Baznas Chairman Didin Hafidhuddin said.

"This is only a preliminary amount as Baznas has set a target of Rp2 trillion," Didin said after receiving tithes from President Susilo Bambang Yudhoyono at the latter`s residence here Saturday.

The figure showed that not all the tithes that should have been paid had been collected. The amount had now reached Rp1.3 trillion, said Didin who remained optimistic that Baznas would meet the target. (source)

INDONESIA - BANKING - Bii Syariah absorbs Rp393.1 billion in public funds

Jakarta (ANTARA News) - Bank Internasional Indonesia (BII) Syariah in the first quarter of 2011 managed to absorb Rp393.1 billion in third party funds (TPF) and extended Rp414.2 billion to its customers in the same period, a BII executive said.

The Islamic-Syariah bank which owns assets worth Rp557.6 billion, is optimistic that the syariah business in the country would develop well in line with the national economic growth which almost reached seven percent, BII Division Head Chairil A Azis said during a function in Surabaya, East Java, on Sunday. (source)

INDONESIA - CAPITAL MARKETS - RI govt to issue Islamic bonds to accelerate infrastructure development

Jakarta (ANTARA News) - The Indonesian government will issue Islamic bonds (sukuk) worth Rp20.9 trillion to finance infrastructure development.

"The issuance of the project-based treasury bonds is aimed at speeding up infrastructure development to improve public service, empower domestic industries and increasing government investment," shariah financing director of the Directorate General of Debt Management of the ministry of finance, Dahlan Siamat, said here on Friday. (source)

CAPITAL MARKETS - Govt issues Sukuk worth rp18 tln since early 2011

Jakarta (ANTARA News) - The government issued state sharia bonds (sukuk) worth a total of Rp18.84 trillion in the year ended June 20, a Finance Ministry official said.

"The amount came from the issuance of sukuk for Indonesian hajj fund, retail sukuk and Islamic fix rate," the director of sharia financing of the ministry`s directorate general of debt management, Dahlan Siamat said here on Friday. (source)

LIFESTYLE - Jakarta to host International Islamic Information Conference

Jakarta (ANTARA News) - The Indonesian government in cooperation with the Rabithah Alam al Islami, a non-governmental Islamic organization based in Mecca, plans to hold an International Islamic Information Conference here in September. (source)

EVENTS - Jakarta to host Muslim World Biz Expo 2012

Kuala Lumpur (ANTARA News) - Jakarta will host the Third Muslim World Biz, the largest business exhibition of Muslim countries, in 2012.

"Tomorrow, Kadin (Indonesian Chamber of Commerce and Industry) and OIC (Organization of the Islamic Conference) will sign documents on the staging of the Third Muslim World Biz expo in Jakarta in 2012," Eddy Kuntadi, chairman of Kadin`s Jakarta chapter, said here Wednesday.

Eddy is in Kuala Lumpur to take part in the Second Muslim World Biz being held here. (source)

ECONOMY - VP calls for enhanced cooperation among WIEF member states

Jakarta (ANTARA News) - Vice President Boediono called for enhanced economic cooperation among countries taking part in the 7th World Islamic Economic Forum (WIEF) in Astana, Kazakhstan, on Wednesday to address the increasingly formidable economic challenges.

"The world has just experienced very serious economic meltdown and has not yet recovered from it. Now is the right time for us to cooperate in dealing with the challenge and hindrance to the only access to recovery, namely economic growth," the vice president said in an emailed statement to ANTARA. (source )

HALAL - MUI to stage halal products expo (24-26 June Jakarta)

Jakarta (ANTARA News) - The Cosmetic and Food Research Division of the Indonesian Ulema Council (LPPOM MUI) is to hold a Halal Products Expo (Indhex) next June 24-26 at the Smesco building in Jakarta, a source said.

"The exhibition is designed to increase awareness among Indonesian Muslims about the importance of halal food certification," Director of LPPOM MUI Lukmanul Hakim said on Monday. (full story - antara news)

CAPITAL MARKETS - Indonesian stock exchange launches sharia index

Jakarta (ANTARA News) - PT Bursa Efek Indonesia (BEI) officially launched the Indonesia Sharia Stock Index (ISSI) here on Thursday as a reference for investors in sharia shares.

BEI president director Ito Warsito said he hoped the index could become a main indicator that reflects the entire performance of sharia shares listed in BEI. (full story)

AWARDS - IFN - Bank Muamalat - Best Islamic banking

Best Islamic banking: Bank Muamalat director Arviyan Arifin (right) receives on Thursday evening in Kuala Lumpur the Islamic Finance News Award for the “Best Islamic Banking in Indonesia", handed over by Islamic Finance News managing director Andrew Morgan (left). (Antara) (source)

BANKING - Syariah Bukopin aims to raise Rp2.1 tln third party funds

Surabaya, E Java (ANTARA News) - Bank Syariah Bukopin has set itself the target of raising third party funds worth Rp2.1 trillion this year, up 30 percent from a year earlier.

The amount of third party funds raised by the bank rose significantly every year thanks to the public` s improving confidence in shariah banks` performance, the bank`s business director, Harry Harmono Busiri, said here on Wednesday. (source)