WORLD - REPORTS - Ernst Young World Competitiveness Report 2011

Announcing the Exclusive Launch of the Ernst & Young World Islamic Banking Competitiveness Report 2012/13 at the 19th Annual World Islamic Banking Conference (WIBC 2012) Islamic Finance: Adapting to the New Dynamics of Global Finance 1200+ Industry Leaders. 50+ Countries. 1 Global Gathering: WIBC 2012 For 19 Years the World's Largest Annual Gathering of Islamic Finance Leaders Dear Banking & Finance Leader, The Ernst & Young World Islamic Banking Competitiveness Report 2011/12, which was launched at the 18th Annual World Islamic Banking Conference (WIBC 2011) last year, noted that Islamic banking assets with commercial banks globally will reach US$1.1 trillion in 2012, a significant jump of 33% from their 2010 level of US$826 billion. The report also highlighted that Islamic banking assets in the Middle East and North Africa (MENA) region increased to US$416 billion in 2010, representing a five year CAGR of 20% compared to less than 9% for conventional banks. The report also indicated that as new geographies open up to Islamic banking, the MENA Islamic banking industry is expected to more than double to US$990 billion by 2015. The World Islamic Banking Competitiveness Report 2011 identified two key themes that were starting to emerge. The first was the need for excellence in banking operations and the second was to improve product innovation. The report indicated that the combined MENA Islamic banking profit pool could rise to US$15 - 19 billion in 2015 from the 2010 levels of US$5 - 6 billion, primarily by  combining operational transformation with a more robust risk infrastructure. The Report also said that potential growth opportunities for regional Islamic banks include the emerging Islamic geographies, growing affluence among retail customers, better alignment with real economy and rising SME banking. Abid Shakeel, Executive Manager, Ernst & Young discussing the findings of the Report 2011/12 at WIBC 2011 The Exclusive On-site Launch of the Ernst & Young World Islamic Banking Competitiveness Report 2012/13 at the 19th Annual World Islamic Banking Conference The WIBC Competitiveness Report is a ground-breaking initiative designed to not only identify but also to raise the bar of competitive excellence, strategic leadership and performance improvement in the industry. The Competitiveness Report has rapidly evolved into an indispensable reference resource for the key decision-makers in the global Islamic banking & finance industry. Developed in collaboration with Ernst & Young, the 9th edition of the Report, will be launched exclusively at the 19th Annual World Islamic Banking Conference (WIBC 2012), which will be held on the 9th to the 11th of December 2012 in the Kingdom of Bahrain. A recent statement issued by Ernst & Young noted that the 2012/13 edition of the World Islamic Banking Competitiveness Report comes at a time when conventional giants are under unprecedented regulatory scrutiny and several European banks are deleveraging and curtailing operations in emerging markets. With the half yearly results out, 2012 looks to be another difficult year for Islamic banks in terms of profitability. Clearly for Islamic banks, achieving the second trillion dollars is about demonstrating exceptional value to mainstream customers. This demands unconventional leadership, to build a business architecture that will help win in the retail market. The Ernst & Young World Islamic Banking Competitiveness Report 2012/13 will examine Islamic banks' efforts to penetrate the mainstream retail customers. The groundbreaking report also explores the road map being adopted by Islamic banks to make a transition to a double-compliant model, i.e., excellence in banking operations topped up by exceptional Shari'ah proposition.

WORLD - PUBLICATIONS - Ernst and Young - World Islamic Banking Competitiveness Report 2011-2012

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INFO - RI`s global competitiveness index up 10 notches to 44th

Jakarta (ANTARA News) - Indonesia`s global competitiveness ranking (CGR) rose by 10 notches to 44th this year mainly because of improving macroeconomic indicators and health and primary education, according to a World Economic Forum (WEF) report.

Indonesia`s macroeconomic indicators rose from 52nd to 34th and health and primary eduction from 82nd to 62nd, the Indonesian ambassador/permanent representative to the UN, WTO and other international organizations in Geneva, Dian Triansyah Djani, said in a statement.

The country`s quality of overall infrastructure increased from 96th to 90th, intellectual property protection from 67th to 58th, national savings rate from 40th to 16th, effectiveness of anti-monopoly policy from 35th to 30th, and extent and effect of taxation from 22nd to 17th.