INDONESIA - REGULATIONS - Comments on this Islamic Banking Commissioner OJK

WWW.REPUBLIKA.CO.ID, JAKARTA - Director of Compliance and Risk Management of Bank Muamalat, Andi Buchari, expect the new Board of Commissioners OJK can help the progress of Islamic banking.

"Indonesia Sharia Bank Association already advises the OJK to participate in making policies that promote Islamic banking," said Andi, Wednesday (20/6).  (source)

INDONESIA - REGULATIONS - BI-term review of the rules of Islamic forex

www.bisnis.com - JAKARTA: Bank Indonesia is conducting a study to create a kind of instrument placement of foreign currency deposits for Islamic banking.
Difi A. Johansyah, Director of Public Relations Group of Bank Indonesia (BI), said the central bank's Monetary Management Department is conducting studies to instrument placement deposits (term deposits) of foreign exchange which currently only exist in the conventional, can be adopted by Islamic banks.
Along with the move, the central bank is also being carried out studies of the regulation of Islamic monetary operations are expected in the not too old to do the adjustment.
"So the next target of Islamic banks can also avail of foreign currency deposit scheme similar term," he told Business Today Sunday, June 10, 2012.  (source)

INDONESIA - CAPITAL MARKETS - Muamalat: The shareholders are willing to absorb sukuk

www.bisnis.com - JAKARTA: PT Bank Muamalat Indonesia Tbk plans to declare the shareholders participate absorb emissions subordinated sukuk valued at Rp800 billion in the first phase, which began to be offered in early June.
 Andi Buchari, Director of Bank Muamalat, said the company's joint managing underwriters (underwriter) has not mengangendakan road show for the success of subordinated sukuk emissions (subdebt) at home and abroad.
 Nevertheless, he continued, it was likely road show will be held on the sidelines of a sukuk issuance agenda began offering in early June.  (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 - BANKING - Bank Muamalat allocates IDR50 million to change its logo

www.bisnis.com - JAKARTA: PT Bank Muamalat Indonesia Tbk allocated IDR50 billion to change company’s logo, which will be launched at the same time with its 20th anniversary.

Bank Muamalat Finance and Operations Director Dendiarto said as much as IDR35 billion of the funds will be used to advertise the product logo in order to socialize the new logo to public.

Moreover, the company allocated IDR10 billion – IDR15 billion to change logo on the entire branch networks. “Most of the investment fund will be handled by current year financial and the rest in next year,” he told in a press conference today, May 1, 2012.  (source)

INDONESIA - BANKING - Muamalat SALES: Management did not know

www.bisnis.com - JAKARTA: The process of selling shares of the banking entities not included in the bank's business plan submitted to Bank Indonesia because it is not the authority of management.
Andi Buchari, Director of Compliance of PT Bank Muamalat Indonesia Tbk, said the company never included the proposed sale of shares held by existing investors in the bank's business plan.
"[The sale] does not make a business plan, because it's what the business plan contains what should be done by management," he said today is Thursday, April 26, 2012. (source)

INDONESIA - FINANCE - Muamalat waits for Shareholders approval of the acquisition of Alif

www.bisnis.com - JAKARTA: Indonesia Tbk, PT Bank Muamalat will ask permission of the shareholders in May to acquire the shares of PT Al Ijarah Indonesia Finance is owned by Boubyan Kuwait and Alpha Lease and Finance Holding BSC.
Andi Buchari, Muamalat Compliance Director, said the acquisition of PT Al Ijarah Indonesia Finance (Alif) is going through the stages of the approval of the commissioner, shareholders, and the authorities.
"We asked for approval of the shareholders of the General Shareholders' Meeting [AGM] in May after which the process will require permission from the authorities," he said today, 26 April 2012.  (source)

INDONESIA - FINANCE - Bank Muamalat completed Rp60-70 billion fund to become a majority shareholder.

www.VIVAnews.com - PT Bank Muamalat Indonesia plans to increase its ownership in PT Al Ijarah Indonesia Finance (Alif) a majority or 90 percent. Today, Bank Muamaat holds shares of 33.3 percent Alif.

Director of Compliance and Risk Management of Bank, Andi Buchari, said her company has completed the total amount of Rp60 to Rp70 billion to increase the share in Alif.

"But these stages are still waiting for long, because they have to ask permission from the commissioner, and will be discussed in the upcoming May RUPS. Then, ask the permission of the new Capital Market Supervisory Agency and the Board of Finance," said Andi at Hotel Mulia, Senayan, Jakarta, Thursday 26 April 2012.  (source)

INDONESIA - BANKING - Islamic Banking: Professional or Islamic?

www.republika.co.id - The biggest fear when someone entered the institute sharia is Islam and he must have a certain fit Islamic values. Smelling things that Islam became one of the factors that make a person frustrated trying to challenge the Islamic financial industry.
The lack of knowledge of the sharia are also factors that make a person fail to be an employee of sharia industry. This lack of knowledge was a hardship for the company in developing the potential of employees in the Islamic industry.  (source)

INDONESIA - CAPITAL MARKETS - Muamalat ensures to issue sharia bonds

www.bisnis.com - JAKARTA: PT Bank Muamalat Indonesia Tbk ensures the issuance of subordinated sharia bonds worth IDR1.5 trillion by appointing three underwriters, namely PT Bahana Securities, PT Danareksa Sekuritas, and PT Indo Premier Securities

Using its December 2011 financial report, the pioneer of Indonesian sharia bank will use the proceeds from the bond issue to expand its physical and electronic network.

The bank plans to sell the bonds in a shelf registration, in which the issuer may make several issuances within two years with one one registration. (source)

INDONESIA - BANKING - Muamalat's profit increases 62%

JAKARTA: PT Bank Muamalat Indonesia Tbk made profit before tax of IDR374 billion in 2011, or increased by 61.85% compared to the previous year.

Director of Bank Muamalat Andi Buchari said the increase in earnings ratio is affected by the better corporate efficiency and financing business development.  (source)

INDONESIA - FINANCE - Housing Loan? Apparently Many Consumers Choose the Islamic Bank tables

REPUBLIKA.CO.ID, JAKARTA --- Consumer Financing is still dominated by banks to housing finance. Targeted, such consumer financing to continue to increase.

For example, the distribution of consumer financing Muamalat has reached Rp 6 trillion in September. Of the total financing, 60 percent came from housing finance. (source)

INDONESIA - BANKING - Muamalat spur financing konsumser

JAKARTA: PT Bank Muamalat Indonesia Tbk will boost consumer cost sharing from 30% to 40% of the total financing through the establishment of a special division of consumer financing in order to increase product variety.

Complience and Risk Management Director Muamalat Buchari Andi said a September 2011 financing consumption has reached Rp 6 trillion and is expected to reach Rp 7 trillion at the end of this year. (source)

INDONESIA - BANKING - Muamalat and Sharia Mandiri tighten domination on market share

JAKARTA: PT Bank Muamalat Indonesia Tbk and PT Bank Syariah Mandiri keeps dominating Indonesia's sharia banking industry, amidst other competitors' late network expansion start.

 

Through mid June, more than half of net profit of sharia banking industry goes to those two major banks. The accumulated profits of both banks reached 52% of total IDR777 billion net profits in the industry during the first half of the year. (source)

INDONESIA - BANKING - Assets Bank Muamalat top Rupiah 1.79 Trillion

REPUBLIKA.CO.ID, MEDAN - Muamalat Indonesia continues to show optimum performance. Of Sumatra, for example, Islamic banks are reportedly delaying the process of purchasing these shares listed assets of branches of North Sumatra (Sumbagut) increased to Rp 1.79 trillion in July 2011.

Complience and Risk Management Director Muamalat, Andi Buchory, said that this region contributes to eight percent. ''This region is entered into one of the biggest assets in Muamalat pengkontribusi after Jakarta and East Java and Nusa Tenggara,''he said.  (source)

INDONESIA - REGULATIONS - Fatwa on Tawarruq nears completion

The insistence of Islamic banking to the issuance of fatwas Tawarruq now beginning to get a reply. Until now the National Sharia Council (DSN) is still brewing targets in this fatwa to be issued later this year. "Inshallah this year," said a member of DSN MUI, Adiwarman Azwar Karim.

However, the DSN will not be using the term but with isitilah Tawarruq commodity trading in the stock. According Tawarruq term use will cause the sense that misleads. This happens because the trading activities that aim to get cash is in practice now involves only two parties only. (source)

INDONESIA - BANKING - Muamalat For Rezeki in Medan

REPUBLIKA.CO.ID, MEDAN - PT Bank Muamalat Indonesia again held Mualamat Share Rezeki''activities''. Once in Makassar, South Sulawesi, this time Muamalat conduct similar activities in Medan, North Sumatra.

According to the Director and Risk Management Complience Muamalat, Andi Buchari, this program is one way Muamalat maintain customer loyalty. ''It could increase the enthusiasm of people saving in Muamalat,''he said. (source)

INDONESIA - BANKING - Indirect financing BMI to SME’s

Jakarta, (22/7). Micro financing is now the focus of Islamic Banks financing. Usually it is under direct financing to Small, medium, and micro enterprises. Yet, Bank Muamalat Indonesia channeled its SME’s and micro financing indirectly.

"Our Strategy is indeed indirect,” explained Bank Muamalat Indonesia’s compliance and risk management Director Andi Buchari during the press conference of Bank Muamalat financial performance, yesterday, Thursday (21/7). (source)

BANKING - Indonesia's Bank Muamalat says investors eyes stake in the bank

May 25 (Reuters) - Bank Muamalat, Indonesia's second biggest sharia bank, said on Wednesday that several foreign and local investors had been conducting due diligence to buy a stake in the bank over the past month after top shareholders decided to sell their stake.

Top shareholders of Bank Muamalat are looking to sell at least 51 percent stake in the bank, a source with direct knowledge of the deal told Reuters. (full story - reuters)

BANKING - Microfinance Dominates Indonesian Shariah Loans: Islamic Finance

businessweek.com - Nov. 24 (Bloomberg) -- Islamic loans targeting Indonesian small businesses have grown to dominate Shariah-compliant credit in the world’s most-populous Muslim nation, prompting the country’s biggest banks to expand. (source)