BRUNEI - Incentives for Islamic finance

Shahin Shayan Arani during his interview with The Brunei Times yesterday. Picture:BT/Yusri Adanan.

Ying Chia

CAPITAL MARKETS - SUKUK - Bankers Urge Indonesian Incentives for Sukuk Bonds

Indonesia is under pressure from banks to match tax breaks and product offerings announced by Malaysia last week to catch up in developing Islamic finance.

“The government needs to play a more active role,” Andi Buchari, a director at Bank Muamalat Indonesia, the nation’s oldest Islamic bank, said on Monday.

BANKING - Indonesia trails Malaysia in sukuk on taxes

Indonesia is under pressure from banks to match tax breaks and product offerings announced by Malaysia last week to catch up in developing Islamic finance.

“The government needs to play a more active role,” Andi Buchari, a director at PT Bank Muamalat Indonesia, the nation’s oldest Islamic bank, said in a telephone interview from Jakarta yesterday. “We need more incentives, things such as a tax holiday, or perhaps, an incentive for people to put their money in Syariah banks.”