INDONESIA - FINANCE - BRI Syariah - Indonesian Ministry's Houses for Poor Will Cost Rp 70m

www.thejakartaglobe.com - The Ministry of Public Housing has pledged to build 12,000 homes that will retail for less than Rp 70 million ($7,700) in underdeveloped areas across Indonesia, according to a memorandum of understanding signed with the Ministry for Underdeveloped Areas this week.

“Based on the budget available, the Housing Ministry will build 60,000 homes in 2012 and some of it will be earmarked for underdeveloped areas. But the figure is still far from [Indonesia’s] housing needs of 4.8 million units,” Public Housing Minister Djan Faridz said on Tuesday.  (source)

INDONESIA - FINANCE - BRI Syariah Provide mortgages for the Customer to the Lower Secondary

pkesinteraktif.com - Jakarta (25/10) - As a follow-up in cooperation with the Ministry of Public Housing (Kemenpera) to channel funds Liquidity Facility Financing Housing (FLPP), Bank Rakyat Indonesia (BRI) to introduce Sharia mortgage products Prosperous BRISyariah

BRI Sharia is the only Islamic Banking which towed Kemenpera to realize the prosperous home ownership. With mortgage products Prosperous, BRI Syariah can deliver financing for Mid-Income Communities (MBM) and Low-Income Communities (MBR). (source)

INDONESIA - BANKING - 2012, Bank Permata Syariah Target Market Increase Five Percent

REPUBLIKA.CO.ID, JAKARTA - sharia business unit (UUS) Bank Permata, Permata Syariah Bank, target of sharia would gain market share by five per cent of the country in 2012. Currently, the total market share of 3.4 per cent of Islamic banking, Bank Permata Syariah still has a minimal contribution by two percent.

According to the Head of Bank Permata Syariah, Ahmad K Permana, Permata Syariah Bank will develop business on all fronts. Bank Permata Syariah During this new focus on consumer businesses such as financing vehicles. (source)

INDONESIA - BANKING - CIMB Niaga Shariah Mortgage Grows 80 Percent

REPUBLIKA.CO.ID, JAKARTA - Bank Niaga recorded significant growth in business loans (mortgage) sharia. Business financing this housing percentages recorded growth of 80 percent to Rp 400 billion in August 2011 from the previous position of about USD 200 billion.

According to the Head of Consumer Lending Bank Niaga, Laksmi Mustikaningrat, Sharia has become an alternative mortgage product you are looking for customers. "In fact, the increase in growth is better than conventional that only 20 percent," he said. (source)