MALAYSIA - FINANCE - Malaysia c.bank to expand new Islamic facility

www.reuters.com - (Reuters) - Malaysia's central bank will eventually expand its new Islamic money market funding facility to allow trades of the instrument between commercial banks, while introducing longer tenors, the central bank said on Thursday. The central bank announced last week that it was launching a collateralised murabaha facility through which Islamic banks could obtain funds from the central bank by pledging high investment grade sukuk as collateral. The new facility aims to aid Islamic banks' liquidity management.
The central bank told Reuters in an email on Thursday that use of the collateralised murabaha instrument would later be expanded so that banks could trade it between themselves in the interbank market. It did not give a time frame.  (source)

INDONESIA - AWARDS - AXIS Financing Programs win Euromoney, IFN Awards

www.arabnews.com - The financing programs of AXIS, a subsidiary of STC in Indonesia, won the award of the best financing of the year among the awards of Euromoney and the award of Islamic Financing.

These two are internationally famous awards for their reputation of excellence and efficiency of finance management, thus, winning either of them let alone winning both of them, ensure deep trust in the finance administration of STC Group Finance sector. (source)

INDONESIA - FINANCE - Mandala Finance gets US$25 million syndicated Islamic loans

JAKARTA: Mandala Finance secured a syndicated loan of US$25 million from four foreign banks, to support sharia-based financing for motorcycle in 2012.

 

The company enjoys the 4-year loan under murabaha contract, from Islamic Corporation for the Development of Private Sector (ICD), The Islamic Corporation for Insurance and Export Credit (ICIEC), Kuwait Finance House Bhd (KFH), and Unit Investment Fund (IUF) of Islamic Development Bank.  (source)

INDONESIA - FINANCE - ICD to extend $157m of loans in 2012 (PT Sritex and PT Mandala Multifinance)

The Dubai-based Islamic Corporation for the Development of the Private Sector (ICD) says it will distribute US$157 million in sharia loans in 2012, comprising $17 million for three banks and $140 million for military uniform maker PT Sritex.

Director for the ICD’s financial institutions development department, Basel A. Al-Hag Issa, said ICD was still in discussions with some banks, but had yet to decide which banks would receive the $17 million loan. (source)

FINANCE - STC Indonesia unit secures $1.2bn funding

Saudi Telecom Company (STC), said its Indonesian unit Axis has secured $1.2 billion in financing to help fund its expansion and growth strategies for the next five years.

The finance deal, with a tenor of seven and a half years, involves several local and international financial institutions and all facilities have been structured in a sharia-compliant manner, said a STC statement. (full story - trade arabia)

FINANCE - Products: Offering grows in wake of crisis

By David Oakley, Capital Markets Correspondent Islamic finance investors love property.

The Shard of Glass, under construction in London, and Bahrain’s World Trade Centre, the Gulf states’ landmark twin-tower and luxury shopping complex, are two high-profile property developments out of thousands around the world financed by Islamic investors.

BANKING - MURABAHA FACILITY - HSBC Amanah Arranged USD 33 Million Murabaha Financing Facility for Krakatau Steel

Original message : http://islamicfinanceindonesia.blogspot.com/2010/09/islamic-trade-finance-murabaha.html#more - Sept 5, 2010

**Being the first bilateral financing for HSBC Amanah after amendment of VAT law in Murabaha** **Providing funds to finance the purchasing of Krakatau Steel’s raw material**