INDONESIA - BANKING - Eddy Setiadi Director Directorate of Islamic Banking New BI

www.pkesinteraktif - Jakarta (22/2) - Eddy Setiadi became Director of Directorate of Islamic Banking Bank Indonesia (BI) were replacing Mulya Siregar, who moved the post as Director of the Directorate of Banking Research and Regulation. Edy himself previously served as Director of the Directorate of Rural Credit and SMEs.

This position shift is the result of the rotation number of high officials in the BI and is routinely done something related to regeneration.

"This regeneration. Some employees want to retire and other employees are eligible to be president," said Head of Public Relations Bureau BI Difi A Johansyah, Tuesday (21/2). (source)

INDONESIA - BANKING - Who buys Bank Muamalat should have long term focus

Jakarta (20 / 1) - Muamalat is now the major focus in the banking world of Islamic banking in particular. This is related to a delay while the sale of shares Muamalat by current shareholders to investors who looked at because there is no financial arrangement.

Related to the Director of the Directorate of Islamic Banking Bank Indonesia (BI), Mulya Siregar revealed that the central bank as the regulator does not interfere with the affairs of the delay the release of these shares. "It's up to them. It depends on the bargaining, "he told pkesinteraktif.com on the sidelines Join the High Level Conference on Islamic Finance in Jakarta, Monday (18 / 7).  (source)

INDONESIA - BANKING - Chairul Tanjung Withdraws from Betting on Bank Muamalat

Theindonesiatoday.com - Chairul Tanjung, owner of Trans Corporation/TransCorp), member of Para Group, has reportedly withdrawn from betting on acquiring PT Bank Muamalat Tbk, Detikfinance.com reported.

"From the result of due diligence, we consider to have a high risk (for acquiring Bank Muamalat)," he said but declined to comment on whether the price offer is expensive. (source)

BANKING - Shariah Banks Look to Farmers In an Effort to Grow Lending

Indonesia’s largest Shariah-compliant banks plan to increase lending to rural areas, where total agricultural loans have doubled over the past five years.

Bank Muamalat Indonesia is seeking to boost lending tenfold outside cities in 2011 after opening 30 new branches last year, said Luluk Mahfuda, head of Islamic corporate banking. BCA Syariah said it would add 15 outlets aimed at small businesses this year. (full story)

STATISTICS - Perbankan Syariah January 2011

2011 Jan stats

BANKING - More sharia banks planned in Indonesia

Several banks expressed interest in establishing sharia banks in Indonesia.

According to Bank Indonesia director for sharia banking Mulya Siregar, the list includes Bank Kesawan, which has just recently been acquired by Qatar National Bank; Malaysia’s Affin Bank Bhd., which owns Bank Ina Perdana Indonesia; and Bank Sinarmas. (source)

BANKING - Central Bank Forecasts Islamic Bank Assets to Jump by Up to 55% This Year

The assets of the nation’s Islamic banks are expected to grow by half this year as people in the world’s largest Muslim-majority state increasingly turn to the sector for their financial needs, according to a report by the central bank released over the weekend.

“If Indonesia’s economy grows at a decent pace, the assets of Islamic banks will increase by 55 percent,’’ said Mulya Siregar, director of Shariah finance at Bank Indonesia. (source)

BANKING - Shariah bank assets grow 47 percent

Jakarta (ANTARA News) - Indonesia`s shariah banks` assets grew 47 percent in 2010 reaching Rp100.26 trillion.

"Their assets that have surpassed Rp100 trillion serve as the starting point for development of shariah banks with their total customers already reaching six million and employees around 20,000," the director of Bank Indonesia`s Directorate of Shariah Banking, Mulya Siregar, said here on Friday. (source)

BANKING - Syariah Banks Targets 30% Profit Growth

Theindonesiatoday.com - National syariah banks targets to book profit of Rp1.36 trillion this year, grew by 30% from Rp1.05 trillion in 2010, Investor Daily reported this morning.

Mulya Siregar, director of Islamic banking at Bank Indoesia, said the profit growth will be supported by three syariah banks will fully operate this year. That three banks are PT Bank BCA Syariah, PT Bank Syariah BNI and PT Bank Maybank Syariah Indonesia. (source)

STATISTICS Perbankan Syariah December 2010

2010 dec stats

PUBLICATON - Islamic Finance Asia - Country Supplement Indonesia : Broad Horizon

With abundant natural resources, increasing foreign investment opportunities and huge market potential, SCOTT WEBER discovers that Indonesia has significantly more to offer the Islamic financial industry than the sheer size of its Muslim population.  FULL STORY HERE and visit the brand new look of http://www.islamicfinanceasia.com

VIDEO - TVC Bank Indonesia IB - Perbankan Syariah

Video here or hereunder.

BANKING - Assets of Sharia banks penetrates to IDR100 trillion

JAKARTA: The assets of sharia banks has penetrated IDR100 trillion by the end of December 2010 or grew beyond the expected target at the beginning of the year.

Deputy Director of Sharia Banking Directorate Bank Indonesia Mulya Siregar said that the asset has grown significantly within a month at the end of last year.

"Sharia banking assets jumped IDR7 trillion in December from IDR93 trillion in November, which showed the improvement of Sharia banking performance," he said, yesterday.

STATISTICS - Perbankan Syariah November 2010

2010 nov stats

BANKING - Bank Indonesia hosts IIFM's 23rd Board Meeting & Industry Seminar

Jakarta, Indonesia - 23 December, 2010 - The 23^rd Board of Directors meeting of the IIFM was hosted last week by Bank Indonesia at their offices in Jakarta. The meeting was attended by senior representatives from Bank Indonesia, Central Bank of Bahrain, , Labuan Financial Services Authority (Malaysia), Ministry of Finance (Brunei Darussalam), Islamic Development Bank, State Bank of Pakistan, Bank Islam Malaysia Berhad, Credit Agricole CIB, Standard Chartered Saadiq and the National Bank of Kuwait (Bahrain).

BANKING - Maybank Targets 8 Percent Of Shariah Market by 2015

Jakarta. Bank Maybank Syariah Indonesia expects its market share of Indonesia’s Shariah banking business to reach 8 percent by 2015 from its current 1.6 percent, a top executive said.

“Our aspiration is to become the No. 1 Islamic bank in the Southeast Asian region by 2015 in terms of reach, and this cannot be achieved without a presence in Indonesia, the largest market in the region,” Dato’ Sri Abdul Wahid Omar, president and CEO of Maybank, said on Friday.

BANKING - Statistics Perbankan Syariah October 2010

2010 Statistic Perbankan Shariah October

BANKING - Assets of Syaria Banks to Reach Rp92 Trillion - Tahawwut Master Agreement signed with Malaysia, Brunei, Brunei and Kuwait

Director of Syaria Banking, Mulya E. Siregar, said syaria banks’ assets are projected to grow up to Rp92 trillion by the end of the year or a 3.1 percent increase of the total national bank assets. To reach this goal, syaria banks are collaborating with the National Syaria Board to produce a religious edict needed by the industry so they can accelerate product innovations.

To save transaction fees, Syariah banks have signed the Tahawu Agreement with Malaysia, Brunei Darussalam, and Kuwait. With this agreement, syaria banks’ transactions only need to refer to the contract model. Mulia hopes that in 2011, this can boost assets up to Rp130 trillion.

EVENTS - SPEECH - Dr. Halim Alimsyah - Deputy Governor BI - Seminar Tahun Tentang Outlook Perbankan Syariah 2011" - Nov 24, 2010

"Perkembangan perbankan syariah dalam lima tahun terakhir sangatlah menggembirakan. Kami optimis pertumbuhan ini akan terus berlanjut seiring dengan semakin bertambahnya jumlah bank syariah. Untuk tahun 2011, penghimpunan dana pihak ketiga (DPK) perbankan syariah diperkirakan akan melebihi tahun 2010, terlebih jika perbankan syariah mampu memanfaatkan momentum capital inflow. Sementara kondisi fundamental ekonomi tahun 2011 yang semakin kokoh, proses pemulihan ekonomi global yang semakin menguat, dan dukungan aturan perpajakan yang lebih kondusif akan mendorong kinerja pembiayaan perbankan syariah." Demikian dikatakan Deputi Gubernur BI, Halim Alamsyah, saat membuka Seminar Akhir Tahun Tentang Outlook Perbankan Syariah 2011 di Koperbi Jakarta, 24 November 2010. Seminar yang mengangkat tema "Kesiapan Bank Syariah Menangkap Peluang Ekspansi 2011" ini dihadiri oleh kalangan perbankan, instansi Pemerintah, KADIN, Asosiasi Usaha, dan para akademisi. (actual speech attached hereunder)

BANKING - Islamic Bankers Support International Standard of Islamic Banking Practice

Jakarta, (10/11). International Standard of Islamic Banking practice has been stated by the Director of syariah Directorate of Bank Indonesia which is in line with Islamic banker’s idea. It is imperative to have International standard for Islamic banking practice, which cater the competitiveness of our national banking with foreign banking system.