INDONESIA - CAPITAL MARKETS - Small issuance, new regulations

www.ibpa.co.id - JAKARTA. Aka Islamic sukuk issuance in 2012 also continued to grow. Citing data from the Capital Market and Financial Institutions Supervisory Agency (Bapepam LK), sukuk issued until late July, a total of 52 products, with a value of Rp 9.39 trillion emissions.

A total of 37 new products were classified as ijara sukuk. While the rest is kind of mudaraba sukuk. Etty Retno Wulandari, Bureau Chief Accounting Standards and Disclosure of Bapepam-LK, said that so far this year reached Rp 1.47 trillion.  (source)

INDONESIA - BANKING - Bank Syariah Mandiri ready for IPO in 2014

www.kontan.co.id - JAKARTA. PT Bank Syariah Mandiri (BSM) is ready to take the floor at the Indonesia Stock Exchange (BEI). Managing Director of BSM Yuslam Fauzi said, the release of BSM is reviewing options IPO (IPO) in 2014.

"Everything is in the process," he said when met at the Bapepam-​​LK, Thursday (9/8). He said the IPO scheme is the domain of the majority shareholder of PT Bank Mandiri Tbk (BMRI).

"BSM is ready to go public. Moreover, if the parent is thinking at this time," he explained. (source)

INDONESIA - CAPITAL MARKETS - Updating DES

www.bapepam.go.id - PRESS RELEASE - PUBLICATION OF RESULTS GENERAL
Pull BODY AND THE FINANCIAL CAPITAL MARKET
On Wednesday, 1 August 2012, Bapepam and LK has issued Bapepam and LK decision of the numbers: Kep-429/BL/2012 about Sign Effects Shariah. Publishing decisions are based on periodic review Bapepam and LK performed on Shariah Stock Register has been set previously. Effect of the list of Shariah investment as a guide for the users DES as the manager, investment manager sharia mutual funds, insurance sharia and investor with a desire to invest in a portfolio Effects of Shariah and Shariah guidelines for index providers such as PT Stock Indonesia to issue a Jakarta Islamic Index and Stock Index Shariah Indonesia. (source)

INDONESIA - REGULATIONS - Capital Markets : contract of Istisna and Musharaka

www.bapepam.go.id - PRESS RELEASE - ISSUANCE OF REGULATIONSSUPERVISORY BOARD CAPITAL MARKET AND FINANCIAL INSTITUTIONSOn this day, Wednesday, August 1, 2012, Bapepam-LK issued a regulation is Regulation No. IX.A.14, attachment, and the Chairman LK Number: KEP-430/BL/2012 dated August 1, 2012 of the Agreement, the Agreement Used in the issuance of Islamic securities in the capital market. This regulation is Rule Number IX.A.14 improvements, attachment, and the Chairman LK Number: KEP-131/BL/2006 dated 23 November 2006 concerning the Agreement, the Agreement Used in the issuance of Islamic securities in the capital market.Completion of these regulations, especially related to the addition of contract Musharaka is a new contract and the contract Istishna. It aims to support Islamic Capital Markets industry needs with a wider range of variation of the contract and potential that can be used in the issuance of Islamic securities in the capital market. (source)

INDONESIA - REGULATIONS - Indonesia's new bank rules may not hit Maybank, CIMB

www.btimes.com.my - KUALA LUMPUR:Indonesia's central bank has issued new rules limiting single ownership in domestic banks at 40 per cent but allows exemptions that could let Malaysia's top two lenders hold on to their controlling stakes in banks there. Bank Indonesia, in a statement on Wednesday, said public-listed financial institutions will be allowed to keep their current ownership structures in Indonesian banks, provided they maintain high levels of corporate governance and financial health, including a tier-1 capital ratio of over six per cent.

From December 2013, those that see their corporate governance and financial health ratings fall to unacceptable levels for three consecutive reporting periods will have to sell their stakes down to the new limit.  (source)

INDONESIA - CAPITAL MARKETS - Bondholders Laju Tanker Demand Specificity of Bapepam-​​LK

www.bisnis.com - JAKARTA: Holders of bonds and sukuk PT Berlian Laju Tanker is still waiting in an atmosphere of uncertainty following the shipping status of issuers that defaulted on a debt instrument in February.

Yusuf, III/2007 Bond investors who represents one of superannuation funds, Bapepam LK asks firmness and the Ministry of Finance to take action against the issuer can not meet its obligations.

"So far, Bapepam LK looks quiet, but who agreed to permit the issuance of bonds is Bapepam LK. They should also take responsibility for their decisions, "he said.  (source)

INDONESIA - BANKING - Maybank Granted Further Six Months Extension for Sell-Down of BII Shares

www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - Malayan Banking Berhad (Maybank) has been granted a further extension of six months to fulfill the sell-down of Bank Internasional Indonesia (BNII) shares.
Maybank informed Bursa Malaysia Friday (July 6) that on 5 July 2012, the bank received an approval letter dated 29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam), wherein Bapepam has granted a further extension of time of six (6) months starting from the date of the Approval Letter for Maybank to fulfill the Sell-Down Requirement (source)

INDONESIA - CAPITAL MARKETS - Adjustment DES listing Bapepam

www.bapepam.go.id - June 29, 2012
Decision No. Kep-362/BL/2012 dated June 29, 2012
Keputusan Nomor: Kep-362/BL/2012 tanggal 29 Juni 2012
Penetapan Saham PT Gading Development Tbk
Decision No. Kep-359/BL/2012 dated June 28, 2012
Keputusan Nomor: Kep-359/BL/2012 tanggal 28 Juni 2012
Penetapan Saham PT Tri Banyan Tirta Tbk
Decision No. Kep-351/BL/2012 dated June 27, 2012
Keputusan Nomor: Kep-351/BL/2012 tanggal 27 Juni 2012
Penetapan Saham PT Kobexindo Tractors Tbk
 Decision No. Kep-350/BL/2012 dated June 27, 2012
Keputusan Nomor: Kep-350/BL/2012 tanggal 27 Juni 2012
Penetapan Saham PT Toba Bara Sejahtera Tbk

INDONESIA - EVENTS - Intl Conference Islamic Capital Markets Jakarta

 PRESS RELEASE
INTERNATIONAL CONFERENCE ON ISLAMIC CAPITAL MARKET IN 2012
"Toward Resilient, Robust, and Competitive Islamic Capital Markets"
Jakarta, 19-20 June 2012
I. International Conference on Islamic Capital MarketA. International Conference on Islamic Capital Market in 2012 was held in cooperation between the Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) by the Islamic Research and Training Institute, Islamic Development Bank (IDB-IRTI).
2. The purpose of this conference is to learn more Islamic capital market role in the Islamic financial system and how it impacts on the increased investment, market stability, and an equitable socio-economic development. 
3. In addition, the conference is to be one potential means to introduce Islamic capital market in Indonesia to the international community in developing and strengthening relations between the Islamic capital market regulator Bapepam-LK as with other state regulators and market participants
4. Furthermore, the main focus of this conference is to discuss current matters relating to Development and prospect; Market Reform and Infrastructure Development: Regulatory aspect of Islamic capital markets; and Strategy for development of capital market products for public sector financing. The discussion will be divided into two main parts, namely the panel discussions and paper presentations.BAPEPAM-LK (source)

INDONESIA - CAPITAL MARKETS - Trisula International added to DES

2012 June Bapepam Trisula

INDONESIA - CAPITAL MARKETS - Bank Muamalat offer 9.5% - 10.5% for Sukuk

www.bisnis.com - JAKARTA: Indonesia Tbk, PT Bank Muamalat offer for the equivalent of 9.5% - 10.5% in stage I emission subordinated sukuk amounting to Rp 500 billion.

"Underwriters and the Bank Muamalat has set for a yield of 9.5% - 10.5% for these emissions," said Iman Hilmansah, Managing Director of PT Danareksa Securities, one of the underwriters after the public exposure, today, Wednesday, May 30, 2012.

Indonesia's first Islamic bank sukuk offering was a period of 10 years with an option to buy (call option) in the fifth year. (source)

INDONESIA - INVESTMENT FUNDS - Real Estate Investment Trusts Target Indonesia Five Years After Rules

www.thejakartaglobe.com - Al-’Aqar Healthcare Real Estate Investment Trust, Malaysia’s oldest Islamic REIT, is considering opening a trust in Indonesia as the nation reviews its first application five years after legalizing such property companies.

Kuala Lumpur-based Al-’Aqar, which already owns two hospitals in Indonesia, would look at registering a trust in the Southeast Asian country provided it gets tax incentives and clearer rules on foreigners owning land are implemented, Executive Director Yusaini Sidek said by e-mail yesterday.  (source)

INDONESIA - BANKING - 2014 Prediction Muamalat Asset Rp60 Trillion

www.investor.co.id - JAKARTA - Director of Compliance and Risk Management Muamalat Buchari Andi said, with the asset growth of 51.8% in 2010-2011, it predicts the bank assets will reach Rp60 trillion in 2014."Last year we achieved post the assets of Rp32, 5 billion, meaning that 50% of the achievements of the assets of about Rp15-16 trillion, with growth of Rp15-16 trillion consistently each year, is predicted to reach Rp 60 trillion in 2014," said Andi at Bank building Muamalat Tuesday.Andi explains, these assets will pursue the achievement of the business sector that is currently running. In addition, the achievement could be achieved if growth remains consistent as Muamalat Muamalat asset growth from 2010 to 2011, which amounted to 51.8%.  (source)

INDONESIA - CAPITAL MARKETS - Bank Muamalat ready for sukuk in June

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Muamalat ready to issue sukuk. Sukuk is estimated to have been effective in June.
Main recruited Muamalat, Arviyan Arifin, said Muamalat to issue sukuk for a total of Rp 1.5 trillion.
Sukuk will be issued in two phases, namely phase one of Rp 800 billion and stage two of Rp 700 billion. "This is one of the important agenda Muamalat this year," said Arviyan, Tuesday (1/5).
Director of Compliance and Risk Management of Bank Muamalat, Andy Buchari, adding, Muamalat has a permit from Bank Indonesia. After that the process will continue into the public expose.  (source)

INDONESIA - CAPITAL MARKETS - Mayora bonds 5 times oversubscribed

www.neraca.co.id - Mayora Indah Tbk PT (MYOR) claims or oversubscribe oversubscribed 5 times over the plan to issue bonds and sukuk mudaraba with a total value of Rp 750 billion. Company Secretary MYOR, Yuni Gunawan, an indication of excess demand for high investor interest in bonds and sukuk offered, "We are delighted with the high interest of investors as indicated by the results of bookbuilding are oversubscribe almost 5 times," he said in Jakarta last weekend.
He also said that interest in bonds and sukuk Mayora mostly domestic investors in detail include insurance companies, pension funds, banks, mutual funds, other institutions and individuals.  (source)

INDONESIA - TAKAFUL - Industry premiums grew 10-fold

www.bisnis.com - BOGOR: Business Takaful industry in the country grew 10-fold in the last six years since 2006.

Head of the Insurance Bureau of Insurance Islamic Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) said Nurhayati Yatty gross contribution (gross premium) is booked by the Takaful industry in Indonesia reached Rp 4, 97 trillion in 2011, growing 10 times higher than in 2006 amounting to Rp499 billion.

In year on year, the gross contribution of Takaful industry grew 34.9% over the previous year's gross contribution amounting to Rp3, 69 trillion.  (source)

INDONESIA - TAKAFUL - Business actors Islamic insurance to grow

www.bisnis.com - BOGOR: The number of businesses that enliven the Islamic insurance industry grew after the official regulators grant permission to a general insurance company (loss) to conduct Islamic business units.

Head of the Insurance Bureau of Insurance Islamic Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) Yatty Nurhayati said permission was out by 9 April 2012.

Thus, total organizer of reach of Takaful business enterprise comprising 44 companies and business units full Islamic sharia than conventional companies.  (source)

INDONESIA - TAKAFUL - After growing Sharia-Based Insurance Company

WWW.REPUBLIKA.CO.ID, JAKARTA - Takaful Company continues to grow. This year is expected to have a big company that will build the business of Takaful. Head of Islamic Insurance Bapepam-LK, Yatty Nurhayati, said this year there was a new Takaful that will participate in the euphoria of sharia in Indonesia.
Permit one company has been issued by the Ministry of Finance. Yatty unfortunately can not mention the name of the insurance company. "The company had just do not know," he said. The company will form a business unit.
In addition to the above company, Yatty also revealed there is already one other company that filed for permission to establish Islamic insurance business units, and another company with a full flash.  (source)

INDONESIA - REGULATIONS - Insha Allah Discuss Islamic Insurance Law Revision Completed This Year

WWW.REPUBLIKA.CO.ID, JAKARTA - The development of Islamic insurance in Indonesia is quite amazing. Takaful assets growth from 2006 to 2011 is significant, from Rp 614 billion to Rp 9.202 trillion. Sharia-based insurance amount from year to year also continued to increase. At first there were only 37 insurance companies that manage according to Islamic principles. This year there were 44 insurance companies in Indonesia.
Unfortunately the growth of Takaful is not supported by the legal umbrella of the government. Government has not established its own rules related to this Takaful. Revision of the law no. 2 in 1992 is expected to rain on the Takaful dry land. "The process is already in the hands of the President to be submitted to the House of Representatives," said the head of the Islamic Insurance Bapepam-LK, Yatty Nurhayati, Saturday (28/4).  (source)

INDONESIA - BANKING - OJK Encourages Islamic Finance Development

www.depkeu.go.id - Jakarta, 17/4/2012 MoF (Fiscal) News - The presence of the Financial Services Authority (OJK), besides maintaining financial system stability, encourages the development of Islamic Finance in Indonesia. This was conveyed by Special Staff of Minister of Finance and former Chief of Establishment Preparation Executive Team for OJK Mulia P. Nasution while attending the Islamic Finance News (IFN) Indonesia Forum 2012, Tuesday (17/4) at the Hotel Mulia, Jakarta. (source)