INDONESIA - CAPITAL MARKETS - Govt to Auction Rp1 Trillion Sukuk on March 27

www.theindonesiatoday.com - JAKARTA, Indonesia Today - The Finance Ministry plans to issue project based sukuk with indicative target of Rp1 trillion in March 27, 2012. The proceed will be used to support the state budget.

The sukuk consists of 4 series;

1. PBS001 series with yield of 4.45000% and to mature in February 15, 2018

2. PBS002 series with yield of 5.45000% and to mature in January 15, 2022

3. PBS003 series with yield of 6.00000% and to be due in January 15, 2027

4. PBS004 series with 6.1000% yield and to be due in February 15, 2037. (source)

INDONESIA - BANKING - BNI Syariah boot Balikpapan business lines pilgrimage

www.bisnis.com - BALIKPAPAN: A number of Islamic banks in Balikpapan spur line of business bailouts pilgrimage is considered quite promising for the development of business, despite the quota of pilgrims in the city is limited.
Nurfi Majdi, BNI Syariah Balikpapan Branch, reveal it targets growth in the distribution of the bailout could reach 2 billion, up 100% compared with last year's realization.
"We've set up a fund of 2 billion for the bailout business lines serving the pilgrims," ​​he said, today February 22, 2012. (source)

INDONESIA - BANKING - BNI Syariah Financing Shutter Consumptive 1000 UI Lecturers and Employees

Jakarta, Bank Negara Indonesia (BNI) Syariah interlace cooperation with the University of Indonesia (UI) in developing the supporting facilities for the academic society UI to perform Umrah and Haj worship using consumer financing facility from BNI Syariah.

Business Director Bambang Widjanarko said BNI Syariah, in this cooperation by providing consumer financing for UI faculty and staff.  (source)

INDONESIA - FINANCE - DSN-MUI Urges Government In Place All Funds Hajj Islamic Instruments

Jakarta (12/12) - After the seventh astral conjunction Sanawi on 4-6 December 2011, the National Sharia Board-Council of Ulama Indonesia (DSN-MUI) produces a variety of recommendations related to developing a Islamic Financial Institutions (LKS). Dana Hajj became one focus of the recommendations.

DSN-MUI urged the House of Representatives and the Ministry of Religious Affairs to accommodate Islamic principles in the Bill (the Bill) Fund Management Hajj, pilgrimage and place funds in Islamic Banking.  (source)

INDONESIA - BANKING - Bank Syariah Mandiri Serve Citizens bailout Umrah Bandung

REPUBLIKA.CO.ID, JAKARTA - Bank Syariah Mandiri (BSM) Umrah travel agency holding companies in the bailout program for the cost of the trip to the Holy Land of Mecca. "Through this layananan make it easier for those who intend to Umrah, with this system cost first trip can be bailed out by Bank Syariah Mandiri," said Andri Kopo BSM Branch Salman on the sidelines of the signing of the cooperation service with Sanabil Tour and Travel in Bandung, Thursday .  (source)

INDONESIA - BANKING - Muamalat spur savings hajj commission income

JAKARTA: PT Bank Muamalat Indonesia Tbk fee-based revenue target of Rp3 billion - 5 billion of savings Hajj and Umrah are supported by working with PT Garuda Indonesia Tbk.

Director of Retail Banking of Bank Muamalat Adrian A. Gunadi also hope that such cooperation can increase the volume of funds under management of Hajj and Umrah savings up to 30%.  (source)

INDONESIA - BANKING - Market Snap Hajj and Umrah, BMI Embraces Garuda

Jakarta (21/11) - PT Bank Muamat Indonesia (BMI) to cooperate with PT Garuda Indonesia in developing the aviation business to the middle east in particular relating to the Hajj and Umrah.
The signing of a memorandum of understanding was conducted by the Director of Retail Bank Muamalat Asharyanto Adrian Gunadi and Director of Marketing and Sales Garuda M. Arif Wibowo witnessed by the Director of the Bank, adding the Arviyan Garuda president director Arifin and Satar was attended by Director of BMI, Arviyan Arifin and Director of Garuda Indonesia, Ermisyah Satar in Jakarta, Monday (21/11).  (source)

INDONESIA - BANKING - BRI Syariah Malang targets 15 billion of gold sales

MALANG: Bank Rakyat Indonesia (BRI) Sharia Malang branch set a target of 15 billion gold sales through product ownership Precious Metals (KLM).
Branch Chairman BRI Syariah Malang, Educate Sudarsono, said of the targets are pegged until November position is now realized for Rp7 billion. (source)

INDONESIA - HAJI - Savings Arafat, Make Your Dreams Towards the Kaaba

Jakarta (2 / 11) - The majority of Indonesian Muslims may not currently be in the country, but was in Saudi Arabia performing the fifth pillar of Islam is the pilgrimage. This of course raises a sense of "envy" to Muslims who do not perform the pilgrimage.

Thus, at the same time the question will be born in mind, when I can perform the pilgrimage to the holy land? Arafat is savings, savings products Muamalat pilgrimage from the present as a solution for Indonesian Muslims to realize keingginannya pilgrimage. (source)

INDONESIA - BANKING - Bank DKI Earned Rp 304 Billion Profit - its UUS will launch Hajj & Umrah Bailout Funding

beritajakarta.com - Residents’ trust toward DKI Bank services is increasing. It is proven by the bank financial performance improvement. Until September 2011, Bank DKI earned profit before tax as much as Rp 304 billion or grows 28.27 percent compared to the same period in 2010 as much as Rp 237 billion.  (source)

INDONESIA - CAPITAL MARKETS - Alhamdulillah ... Sukuk Fund Haji Rp 3 trillion of Publication

REPUBLIKA.CO.ID, JAKARTA - The government issued securities sharia state (SBSN) or sukuk SDHI state-2021B series, which will mature on October 17, 2021 to come. Written statement of the Directorate General of Debt Management, Ministry of Finance in Jakarta, Tuesday (18/10), said, publication of SBSN is done through the placement of Hajj Fund administered by the Ministry of Religious Affairs with the method of 'private placement'.
Placement of funds SBSN pilgrimage to it is a follow-up to the signing of the Joint Memorandum of Understanding between the Minister of Finance and Minister of Religious Affairs on October 22, 2009 on Procedures Placement of Hajj and Endowment Funds People in SBSN by the method of 'private placement'. (source)

INDONESIA - HAJI - HSBC offers haj pilgrimage banking services

JAKARTA: HSBC’s sharia division, Amanah Syariah, is teaming up with the global bank’s Saudi Arabia-based branch Saudi British Bank (SABB) to offer haj and umroh (minor haj) pilgrimage banking services for both individuals and travel bureaus. (source)

INDONESIA - BANKING - Mega Syariah may offer Haji savings for babies from the age of one

REPUBLIKA.CO.ID, JAKARTA - Managing Director of Mega Syariah, Beny Witjaksono, claiming innovations in hajj savings being contemplated. "We examine how open to all sorts of ages, even from the age of one year," he said when met Republika.

He claimed the per capita income growth will increase several fold in the future. This makes the bank think about the concept of savings for all kinds of pilgrimage early age. (source)

INDONESIA - BANKING - Indonesian Islamic banks ask for more 'breath' in the management of Haji Funds

REPUBLIKA.CO.ID, JAKARTA - The Islamic Bank asked the government to give a little breathing for Islamic banks in managing the funds pilgrimage. Because the government policies that directly channel funds rated sukuk pilgrimage to burdensome and not giving motion to the Islamic banks to grow the business.

According to Director of Retail Banking Mega Syariah, Ani Murdiati, the government should give space for pilgrims to settle in advance of funds in Islamic banks. "Do not be immediately withdrawn all year, it is not fair for the banking," he said when met Reuters on the sidelines of Hajj Manasik Prime Bank Mega Syariah. (source)

INDONESIA - BANKING - Bank Bukopin Syariah ready to manage Haji funds

REPUBLIKA.CO.ID, JAKARTA - PT Bank Syariah Bukopin Hajj claimed to be ready to manage funds. Director of Syariah Bukopin, Riyanto, said that the licensing process is being completed and likely to be obtained next year.

''Our view is supposed to funds managed Hajj Islamic banks,''he said. ''This is also the hope of most of the Islamic banking industry.'' (source)

INDONESIA - BANKING - BRI Syariah Financing precious metals exceeds USD 15 Billion

REPUBLIKA.CO.ID, JAKARTA - PT Bank Rakyat Indonesia (BRI) Sharia recorded significant achievements in gold-based financing, ownership of precious metals (KLM). The product which was launched in June 2011 and is now up to Rp 15 billion.
According to Chief of Retail Banking Sharia BRI Khairullah KLM emergence as a new innovation in Islamic banking business led to KLM's got a good appreciation in the market. ''This product is desirable because it offers the gold purchases in installments,''he told reporters when met in Sharia BRI Gathering on Thursday (28 / 7). (source)

CAPITAL MARKETS - Govt issues Sukuk worth rp18 tln since early 2011

Jakarta (ANTARA News) - The government issued state sharia bonds (sukuk) worth a total of Rp18.84 trillion in the year ended June 20, a Finance Ministry official said.

"The amount came from the issuance of sukuk for Indonesian hajj fund, retail sukuk and Islamic fix rate," the director of sharia financing of the ministry`s directorate general of debt management, Dahlan Siamat said here on Friday. (source)

FINANCE - Danamon Syariah Set Target for Automotive Financing up to IDR 50 Billion

Jakarta, (24/6). The Islamic window of PT Bank Danamon set target to channel its automotive financing up to IDR 50 billion, and it set target to captive 1.000 hajj markets of which consist of workers who are the member of co-operative shop. As explained by Head of shariah division of Bank Danamon, Prayudha Moelyo during the launching ceremony of automotive financing and hajj management Program at Shangri-La Hotel Jakarta, last Thursday (23/6). (source)

BANKING - Sharia Banks to Manage Hajj Funds, says BI

TEMPO Interactive, Jakarta:Bank Indonesia’s sharia banking director Mulya Siregar says the central bank supports sharia banks managing hajj funds. “Ten years ago, it was impossible for sharia banks to manage hajj funds, but now it’s possible,” said Mulya during the launch of the Indonesia Halal Business & Food Expo held in Jakarta yesterday. (source)