INDONESIA - HALAL - VP Hopes Halal Certification Not a Burden for Consumers

Vice President Boediono said that he hoped the application of ‘halal’ certification would not be too costly for poorer consumers. 

“I also hope that the standardization would be assessed so that it would not burden consumers. This is important because some of the consumers are Muslims whose incomes are still small,” the vice president said as he opened the annual meeting of the World Halal Food Council in Jakarta on Monday.   (source)

INDONESIA - CAPITAL MARKETS - Government ponders USD 1 billion Sukuk Q3, 2011

JAKARTA-The government plans to issue a global sukuk worth U.S. $ 1 billion in the third quarter of 2011.

"We plan to raise global sukuk fund a maximum of up to U.S. $ 1 billion," said Finance Minister Agus Martowardojo here on Tuesday. (source)

INDONESIA - BANKING - Savings drive growth of Islamic banking in Indonesia

Indonesia, the world's most populous Muslim country with a population of over 210 million, ought to have a natural fit with Islamic banking, finance and insurance. Indeed, the mobilization of domestic savings through Islamic banking is expected to help drive the growth of the Indonesian banking industry, according to Indonesian Vice President Boediono. (source)

INDONESIA - EVENTS - HIGH LEVEL CONFERENCE - Speech by Vice President Dr. Boediono at Joint High Level Conference in Islamic Finance, Indonesia

Speech
Joint High Level Conference on Islamic Finance

Jakarta, Indonesia
Monday, 18 July 2011

Vice President Republic Indonesia  - Dr. Boediono

(source)

INDONESIA - EVENTS - High level conference - Islamic Finance is Integrated to State Economic System

Jakarta, (20/8). Islamic finance system is related to the state economic system of a country, as explained by Vice president of Indonesia, Budiono during the opening ceremony of Joint High Level Conference on Islamic Finance which organized by Bank Indonesia, Monday (18/07). 

Budiono has opined that Islamic finance has some advances to further development of state economic system in which it has embedded with the global economic system. “ Islamic finance has been integrated with global economic system, and with this conference it is expected that the central bank of Indonesia and Malaysia and the Islamic finance professional could meet and discuss all issues and grand strategic for further enhancement of Islamic finance system within the global economic system” exclaimed Budiono. (source)

INDONESIA - EVENTS - High level conference - Indonesia, Malaysia Look to Work Together to Boost Shariah Banking

The Indonesian and Malaysian central banks agreed on Monday to improve cooperation to boost the development of Islamic finance in the two nations.

“Islamic finance like Shariah banking is no longer just complementary but has now become a genuine alternative financing option,” said Darmin Nasution, the governor of Bank Indonesia. “So there is a strong need for Islamic banks in Malaysia and in Indonesia to improve their cooperation and develop the Islamic finance market.’’  (source)

INDONESIA - EVENTS - High level conference - RI, Malaysia to promote ties on Islamic banking

Indonesia and Malaysia have agreed to establish a regulatory framework that will enable them to better synchronize their Islamic financial concepts.

As part of the plan, two memorandum of understandings (MoUs) were inked on Monday between the Indonesian Sharia Banks Association (Asbisindo), the Association of Islamic Banking Institutions Malaysia (AIBIM), as well as between Maybank Islamic Bhd and PT Bank Syariah Mandiri. (source)

INDONESIA - EVENTS - High level conference - VP : Sukuk balances global portfolio flows

REPUBLIKA.CO.ID, JAKARTA - Vice President Boediono said the sukuk (bonds / Islamic bonds) to balance the flow of global portfolio funds into Indonesia and became an alternative source of funding for infrastructure development in Indonesia. "For Indonesia, the global sukuk market has become an alternative source of funding for infrastructure and other investments. Simultaneously sukuk market was used as a counterweight to global portfolio flows into Indonesia," said vice president at the Joint High Level Conference On Islamic Finance in Jakarta Monday.
According to Vice President, sukuk continues to experience significant development in various countries, not only in Islamic countries. Even China has also begun to pay serious attention to the development of the global sukuk market. (source)

INDONESIA - EVENTS - High level conference - The special features of Islamic finance

REPUBLIKA.CO.ID, JAKARTA - Vice President, Boediono, assess Islamic finance has special advantages compared to conventional finance. According to him, this has become its own guidelines in the operations of Islamic finance and keeps him from catastrophic economic crisis in 2008 and 2009.

Sharia''has a special sign of the financial activities of the sector rill,''he said in the opening of the Joint High Level Conference of Islamic Finance, on Monday (18 / 7). In addition, he said the financial system also reduces the risk decupling between risk and reward. (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 )