www.thejakartaglobe.com - Bank Mandiri, the country’s largest lender by assets, is considering an
initial public offering next year for its Islamic unit, Bank Syariah
Mandiri, a top executive has said.
Sunarso, a commercial
director of Bank Mandiri, said on Thursday that the preparations for the
offering were under way and the IPO was likely for next year.
“The preparations for the share sale, still have to be completed first but I don’t think it will take too long,” he said.
“We want the IPO to help strengthen the capital [of Bank Syariah Mandiri] .” (source)
Showing posts with label indonesia. Show all posts
Showing posts with label indonesia. Show all posts
Sunday, August 26, 2012
Thursday, August 23, 2012
INDONESIA - ARTICLES - Utilization of Zakat as a Fiscal Component in Islamic Economic System
Maksimalisasi Zakat Sebagai Salah Satu Komponen Fiskal Dalam Sistem Ekonomi Islam (Utilization of Zakat as a Fiscal Component in Islamic Economic System)
Azharsyah Ibrahim
State University of Ar-Raniry - Faculty of Law - Ar-Raniry State Institute of Islamic Studies
May 22, 2012
JURISPRUDENSI Jurnal Syari'ah, Januari-Juni 2011
Abstract:
In economics, fiscal policy is defined as the use of government
expenditure and revenue collection (taxation) to influence the economy.
Governments use fiscal policy to influence the level of aggregate demand
in the economy, in an effort to achieve economic objectives of price
stability, full employment, and economic growth. Fiscal policy in an
Islamic state should have an ideological orientation. This means that
fiscal policy in an Islamic economy has to be evolved in the ideological
framework of Islam and cannot be value-neutral. This paper aims to comprehensively study the potency of zakah in Indonesia
and its potential use as a stabilization device in Islamic economic
system. Data for this research are gathered through related-literatures
including books, journal articles, internet sites and other related
resources. The research found that the potency of zakah in Indonesia is increasing year of year. The Indonesia Magnificience of Zakah calculated that Indonesia has IDR 27,2 trillion in 2010 while Asian Development Bank estimated up to IDR 100 trillion. Thus, Indonesia
has very big potency to use zakah as a fiscal component because some
part of zakah proceeds could be withheld in an inflationary situation
and these funds could be released to increase purchasing power in a
period of depressed economic activity.
Note: Downloadable document is in Indonesian.- source SSRN
INDONESIA - CAPITAL MARKETS - Limit of Project Sukuk SBSN set at Rp 1,0 trillion
www.bisnis.com - JAKARTA: The government sets a limit on issuance of Islamic Countries (SBSN) for project financing in 2013 amounted to R1, 0 billion.
Financial Notes and Draft Budget 2013, the government will seek to accelerate impementasi sukuk issuance to finance the project.
"For fiscal year 2013, the government set a maximum issuance SBSN Project Rp1, 0 trillion.
SBSN issuance limit is prepared for a period of 1 year budget, "the government said in a Memorandum of Finance and Budget 2013. (source)
Financial Notes and Draft Budget 2013, the government will seek to accelerate impementasi sukuk issuance to finance the project.
"For fiscal year 2013, the government set a maximum issuance SBSN Project Rp1, 0 trillion.
SBSN issuance limit is prepared for a period of 1 year budget, "the government said in a Memorandum of Finance and Budget 2013. (source)
INDONESIA - MULTI FINANCE - Adira Dynamics boosts Syariah performance
www.bisnis.com - JAKARTA:
PT Adira Dinamika Multi Finance Tbk will boost the performance of
sharia units with a target can contribute up to 15% of the total
business in the next 2-3 years.
Willy Dharma Kelvin, President Director of Adira Dinamika Multi Finance (Adira Finance) said that Islamic finance is huge potential in Indonesia, because it has the largest Muslim population in the world.
"But there are still obstacles due to lack of education and socialization of Islamic finance to the public. For that we have a strategy to strengthen the education and promotion of Islamic finance," he said last week.
Subsidiary, PT Bank Danamon Indonesia Tbk has just set up a sharia units (UUS) in June. Through this new business unit, the company is able to do financing (joint financing) with some Islamic banks, including the parent company Danamon Syariah. (source)
Willy Dharma Kelvin, President Director of Adira Dinamika Multi Finance (Adira Finance) said that Islamic finance is huge potential in Indonesia, because it has the largest Muslim population in the world.
"But there are still obstacles due to lack of education and socialization of Islamic finance to the public. For that we have a strategy to strengthen the education and promotion of Islamic finance," he said last week.
Subsidiary, PT Bank Danamon Indonesia Tbk has just set up a sharia units (UUS) in June. Through this new business unit, the company is able to do financing (joint financing) with some Islamic banks, including the parent company Danamon Syariah. (source)
Monday, August 20, 2012
INDONESIA - BANKING - BI to Apply Minimum Down Payment Regulation to Islamic Banks
www.bisnis.com - JAKARTA: After a minimum down payment credit policy applied to
conventional banks and multifinance since mid-June, Bank Indonesia will
ensure to apply similar regulation to Islamic banking.
Bank Indonesia (BI) Islamic Banking Department Executive Director Edy Setiadi said the preparation of minimum down payment regulation for Islamic Bank needs more time because this type of bank has limited data resources compared to conventional banks.
"The principle is BI also has to make similar regulation for Islamic banks," he said yesterday (8/13). (source)
Bank Indonesia (BI) Islamic Banking Department Executive Director Edy Setiadi said the preparation of minimum down payment regulation for Islamic Bank needs more time because this type of bank has limited data resources compared to conventional banks.
"The principle is BI also has to make similar regulation for Islamic banks," he said yesterday (8/13). (source)
INDONESIA - BANKING - BRI Syariah Yogyakarta pedal boot Third Party Funds
www.bisnis.com - SEMARANG: PT Bank Rakyat Indonesia (BRI) Sharia Yogyakarta branch of third-party fund-raising boost by lowering intermediation ratio is relatively high.
Halomoan Marpaung, BRI Syariah Yogyakarta Branch, said one of his side during the concentration task this year is to reduce the ratio of intermediation (financing to deposit ratio / FDR), which has penetrated 123.3% at the end of July.
He explained the reduction in the FDR will be pursued with increasing third-party funds (DPK), especially on savings and current accounts.
"As for our focus on retail deposits or individuals," he told Business Sunday (19/08/2012). (source)
Halomoan Marpaung, BRI Syariah Yogyakarta Branch, said one of his side during the concentration task this year is to reduce the ratio of intermediation (financing to deposit ratio / FDR), which has penetrated 123.3% at the end of July.
He explained the reduction in the FDR will be pursued with increasing third-party funds (DPK), especially on savings and current accounts.
"As for our focus on retail deposits or individuals," he told Business Sunday (19/08/2012). (source)
INDONESIA - BANKING - BRI Syariah Yogyakarta Prepare ATM Shuttle Service Fund
www.bisnis.com - SEMARANG: PT Bank Rakyat Indonesia Yogyakarta Branch Sharia fund operates shuttle service (pick up service) during Ramadhan break to ease customer deposit funds into the bank.
Halomoan Marpaung, BRI Syariah Yogyakarta Branch, explaining the fund shuttle services performed by the Branch Office (KCP) Bantul.
"This service is provided to adjust the prime customer transactions at the time of Eid is predicted to experience a surge," he told Business Sunday (19/08/2012). (source)
Halomoan Marpaung, BRI Syariah Yogyakarta Branch, explaining the fund shuttle services performed by the Branch Office (KCP) Bantul.
"This service is provided to adjust the prime customer transactions at the time of Eid is predicted to experience a surge," he told Business Sunday (19/08/2012). (source)
INDONESIA - REGULATIONS - BI: Bank Syariah Not Treated Special
www.bisnis.com - JAKARTA: Bank Indonesia said it was reviewing the amount of loan to value for the rule of Islamic banking.
Governor of Bank Indonesia (BI) Nasution said the provisions of loan to value (LTV) sharia should not be treated differently from the conventional banking regulations.
"Yes, it should be one of the main reasons it is actually that there be no arbitrage, do not then there is a difference. Should have the same direction. However, whether the latter [the amount] exactly the same, or how, we'll examine is," he said after a ceremony Aug. 17 in the BI, today (17/08/2012). (source)
Governor of Bank Indonesia (BI) Nasution said the provisions of loan to value (LTV) sharia should not be treated differently from the conventional banking regulations.
"Yes, it should be one of the main reasons it is actually that there be no arbitrage, do not then there is a difference. Should have the same direction. However, whether the latter [the amount] exactly the same, or how, we'll examine is," he said after a ceremony Aug. 17 in the BI, today (17/08/2012). (source)
INDONESIA - CAPITAL MARKETS - Indonesia to Sell More Bonds Next Year to Plug Deficit
www.thejakartaglobe.com - Indonesia, which has been running a budget deficit since the Asian
monetary crisis more than a decade ago, plans to sell 11 percent more
bonds next year to finance its budget shortfall.
The government plans to raise total net bond sales to Rp 177.3 trillion ($19 billion) next year compared with Rp 159.6 trillion this year, with the country aiming to sell more notes even as the budget deficit is projected to narrow next year.
“The government will sell rupiah bonds and dollar-denominated bonds next year,” the government said in a budget statement.
The document also showed that the government would sell regular and retail bonds in the domestic market. (source)
The government plans to raise total net bond sales to Rp 177.3 trillion ($19 billion) next year compared with Rp 159.6 trillion this year, with the country aiming to sell more notes even as the budget deficit is projected to narrow next year.
“The government will sell rupiah bonds and dollar-denominated bonds next year,” the government said in a budget statement.
The document also showed that the government would sell regular and retail bonds in the domestic market. (source)
INDONESIA - FOREIGN - Affin up on Bank Muamalat Malaysia stake buy talks
www.btimes.com.my -KUALA LUMPUR: Affin Holdings Bhd, Malaysia’s smallest banking group by
market value, rallied the most in a month after obtaining central bank
approval to start talks to buy a stake in the country’s second-oldest
Islamic bank.
The stock advanced as much as 2.3 per cent in Kuala Lumpur trading to RM3.56. It pared gains to RM3.54 at 11:50am, poised for its steepest increase since July 18. It was the second-biggest increase in the Bursa Malaysia Finance Index, which climbed 0.3 per cent.
Acquiring a stake in Bank Muamalat Malaysia Bhd may increase Affin’s scale and help strengthen its position in the Southeast Asian nation’s Islamic banking industry, according to a brokerage report by Alliance Financial Group Bhd today. Bank Muamalat was formed in 1999, the second full-fledged Islamic bank set up in the country after Bank Islam Malaysia Bhd. (source)
The stock advanced as much as 2.3 per cent in Kuala Lumpur trading to RM3.56. It pared gains to RM3.54 at 11:50am, poised for its steepest increase since July 18. It was the second-biggest increase in the Bursa Malaysia Finance Index, which climbed 0.3 per cent.
Acquiring a stake in Bank Muamalat Malaysia Bhd may increase Affin’s scale and help strengthen its position in the Southeast Asian nation’s Islamic banking industry, according to a brokerage report by Alliance Financial Group Bhd today. Bank Muamalat was formed in 1999, the second full-fledged Islamic bank set up in the country after Bank Islam Malaysia Bhd. (source)
Wednesday, August 15, 2012
INDONESIA - BANKING - Distributes Funding BSM Rp39, 93 trillion
www.investor.co.id - JAKARTA-Bank
Syariah Mandiri (BSM) financing channel for Rp39, 93 trillion by the
end of June 2012, up 32.85 percent over the same period in 2011
amounting to Rp30, 06 trillion.
"Financing is a source of income for margins and results of the largest profit contributor," said Managing Director of BSM Yuslam Fauzi current events and breaking fast gathering together in Jakarta, Monday (13/8).
BSM said Yuslam financing micro business sector focuses on small and medium enterprises (SMEs) which occupies a portion of 73.34 percent, while the share of corporate financing amounted to only 26.66 percent.
"In the previous period, the portion of the financing is greater to the corporation, but the current and future we will pay more attention to SMEs," he said. (source)
"Financing is a source of income for margins and results of the largest profit contributor," said Managing Director of BSM Yuslam Fauzi current events and breaking fast gathering together in Jakarta, Monday (13/8).
BSM said Yuslam financing micro business sector focuses on small and medium enterprises (SMEs) which occupies a portion of 73.34 percent, while the share of corporate financing amounted to only 26.66 percent.
"In the previous period, the portion of the financing is greater to the corporation, but the current and future we will pay more attention to SMEs," he said. (source)
INDONESIA - BANKING - Syariah Mandiri Bank Profit Up 47%
www.investor.co.id - JAKARTA
- PT Bank Syariah Mandiri (BSM) recorded a net profit of Rp 396.84
billion in the first half of 2012, growing 47% over the same period last
year valued at Rp 270 billion. Margin and revenue sharing to be the largest contributor to the increase in net income.
Director of Finance BSM Fanani Zainal said the revenue and margin for the BSM at the end of June 2012 reached Rp 2.24 trillion, up 24.81% over the same period last year amounted to Rp 1.79 trillion. "Our financing is channeled up 32.85% from Rp 30.06 trillion to Rp 39.93 trillion," Zainal said at a press conference at Wisma exposure to the performance of BSM Mandiri, Jakarta, Monday (13/8). (source)
Director of Finance BSM Fanani Zainal said the revenue and margin for the BSM at the end of June 2012 reached Rp 2.24 trillion, up 24.81% over the same period last year amounted to Rp 1.79 trillion. "Our financing is channeled up 32.85% from Rp 30.06 trillion to Rp 39.93 trillion," Zainal said at a press conference at Wisma exposure to the performance of BSM Mandiri, Jakarta, Monday (13/8). (source)
Tuesday, August 14, 2012
INDONESIA - REGULATONS - BANK INDONESIA to issue new loan to value ratio for Islamic Banks
www.bisnis.com - JAKARTA: Bank Indonesia will release a regulation to limit ratio of
credit value that bank can be provided to maximum collateral. The
regulation will be imposed to Islamic Banking industry as part of
microprudential policy.
Loan to value ratio might be applicable this year, said Executive Director of Bank Indonesia's Islamic Banking Department Edy Setiadi.
"Since the first rule was out for a conventional bank, BI principle should also be set up for Islamic banks however time and date are still unclear," he said on Monday (8/13/2012). (source)
Loan to value ratio might be applicable this year, said Executive Director of Bank Indonesia's Islamic Banking Department Edy Setiadi.
"Since the first rule was out for a conventional bank, BI principle should also be set up for Islamic banks however time and date are still unclear," he said on Monday (8/13/2012). (source)
INDONESIA - CAPITAL MARKETS - Dana Haji Sign Sukuk, Islamic Banking sluggish
www.bisnis.com - JAKARTA
- Bank Indonesia (BI) recorded growth of Islamic banking industry in
the first half of 2012 tend to be slower than growth at the end of
December 2012. The transfer of Sukuk to fund the pilgrimage to one of the trigger."The performance of Islamic banking is based on the record is still growing very little. I
see the industry to agree on this, "said Executive Director of the
Department of Banking Islamic Bank, Edy Setiadi, the talkshow reveals
the human resources crisis in Islamic Banking in Jakarta, today.He
said the slowdown in the growth of Islamic banking, one of which can be
seen from the growth of assets amounted to only 7.04 percent in the
period from January to July 2012 (year to date / ytd). That
means during the first half of 2012, growth has not reached half of the
total asset growth last year, amounting to 48.6 percent (ytd) during
setahunan. (source)
INDONESIA - BANKING - Shariah Included in Indonesian Bank Rule
www.thejakartaglobe.com - The country’s central bank will soon issue a regulation requiring
Shariah banks to toughen down payments on housing and automotive loans, a
deputy governor said on Sunday.
The requirement will be similar to the implementation of the loan-to-value level applied to conventional lenders for housing and vehicle loans issued on March 15 and took effect on June 15.
Under the new regulation, down payments of 25 percent for two-wheeled vehicles are required and 30 percent for four-wheeled vehicles. There were no rules before, but sellers often asked for about 15 percent. Loans typically account for 70 percent of car purchases in Indonesia.
Shariah lenders were excluded from the regulation as in Islamic finance, lending does not require down payments. (source)
The requirement will be similar to the implementation of the loan-to-value level applied to conventional lenders for housing and vehicle loans issued on March 15 and took effect on June 15.
Under the new regulation, down payments of 25 percent for two-wheeled vehicles are required and 30 percent for four-wheeled vehicles. There were no rules before, but sellers often asked for about 15 percent. Loans typically account for 70 percent of car purchases in Indonesia.
Shariah lenders were excluded from the regulation as in Islamic finance, lending does not require down payments. (source)
INDONESIA - BANKING - Foreign Banks Facing Paid-Up Capital Rule From Indonesian Government
www.thejakartaglobe.com -The central bank plans to impose a regulation on
foreign lenders operating branch offices here that will require them to
meet a similar minimum paid-up capital sum that locally incorporated
lenders must pay.
Indonesia allows foreign lenders to operate branch offices here without establishing a locally incorporated company, a policy often criticized by local lenders as paving the way for unfair competition and increased risk for Indonesian deposit holders.
Halim Alamsyah, a deputy governor at Bank Indonesia, said the minimum paid-up capital requirement for local banks — currently set at Rp 3 trillion ($318 million) for the establishment of a new conventional bank — would be applied in some form to foreign branch operators as well. (source)
Indonesia allows foreign lenders to operate branch offices here without establishing a locally incorporated company, a policy often criticized by local lenders as paving the way for unfair competition and increased risk for Indonesian deposit holders.
Halim Alamsyah, a deputy governor at Bank Indonesia, said the minimum paid-up capital requirement for local banks — currently set at Rp 3 trillion ($318 million) for the establishment of a new conventional bank — would be applied in some form to foreign branch operators as well. (source)
Monday, August 13, 2012
INDONESIA - BANKING - Gold Pawn Islamic banks still shining
www.kontan.co.id - JAKARTA. After a three-month slide, gold pawn restriction rules taking effect for the Islamic banking industry. Bank with a portfolio of gold pawn is too high, posting a decline in financing during the first half of 2012. Meanwhile, a new Islamic bank in business, enjoying a fantastic surge in financing nan.
BRI Syariah, BNI Syariah, and Bank Syariah Mandiri, including a slowdown. In addition to their gold financing business was suspended, the three largest Islamic bank is also no longer jor-rod. According beleid BI, bank financing may only deliver a maximum of 20% gold of the total financing or a maximum of 150% of bank capital. (source)
BRI Syariah, BNI Syariah, and Bank Syariah Mandiri, including a slowdown. In addition to their gold financing business was suspended, the three largest Islamic bank is also no longer jor-rod. According beleid BI, bank financing may only deliver a maximum of 20% gold of the total financing or a maximum of 150% of bank capital. (source)
INDONESIA - CAPITAL MARKETS - Small issuance, new regulations
www.ibpa.co.id - JAKARTA. Aka Islamic sukuk issuance in 2012 also continued to grow. Citing data from the Capital Market and Financial Institutions Supervisory Agency (Bapepam LK), sukuk issued until late July, a total of 52 products, with a value of Rp 9.39 trillion emissions.
A total of 37 new products were classified as ijara sukuk. While the rest is kind of mudaraba sukuk. Etty Retno Wulandari, Bureau Chief Accounting Standards and Disclosure of Bapepam-LK, said that so far this year reached Rp 1.47 trillion. (source)
A total of 37 new products were classified as ijara sukuk. While the rest is kind of mudaraba sukuk. Etty Retno Wulandari, Bureau Chief Accounting Standards and Disclosure of Bapepam-LK, said that so far this year reached Rp 1.47 trillion. (source)
INDONESIA - BANKING - ISLAMIC BUKOPIN: cash management services strengthened
www.bisnis.com - JAKARTA: PT Bank Syariah Bukopin will strengthen fund management services or cash management by targeting the addition of 10 partner companies, to develop third-party funds and commission-based income.
Riyanto, Managing Director of Bank Syariah Bukopin (BSB), said the company does not target too many in the development of cash management services because it takes time for their implementation.
"In a cash management service that takes time for their implementation. But we are targeting to add 10 more in the company's cash management services, "he said in the opening ceremony together with the mass media, Thursday (09/08/2012). (source)
Riyanto, Managing Director of Bank Syariah Bukopin (BSB), said the company does not target too many in the development of cash management services because it takes time for their implementation.
"In a cash management service that takes time for their implementation. But we are targeting to add 10 more in the company's cash management services, "he said in the opening ceremony together with the mass media, Thursday (09/08/2012). (source)
INDONESIA - BANKING - BNI Syariah Involve dish 10 000 Customer Feedback Orphan
www.bisnis.com - JAKARTA, PT Bank Negara Indonesia Sharia provide iftar mealsfor 10,000 orphans and the orphans through the Share Open Hasanah.
"Sharing Program Open Hasanah involve customers. By opening a savings or top up Hasanah iB iB Savings Tapenas then to give my customers a meal break for orphans and duafa, "said Imam T. Saptono, Business Director of Islamic Bank Negara Indonesia (BNI Syariah) in a press release received by Business Saturday (11/8 ).
According to Imam, a program that was held since 10 July to 6 August 2012, received a positive response from people all over Indonesia. The Company initially targeting 10 000 iftar meals in 49 branches, but its realization may exceed expectations by as much as 10 752 packets collected food for the orphans and duafa. (source)
"Sharing Program Open Hasanah involve customers. By opening a savings or top up Hasanah iB iB Savings Tapenas then to give my customers a meal break for orphans and duafa, "said Imam T. Saptono, Business Director of Islamic Bank Negara Indonesia (BNI Syariah) in a press release received by Business Saturday (11/8 ).
According to Imam, a program that was held since 10 July to 6 August 2012, received a positive response from people all over Indonesia. The Company initially targeting 10 000 iftar meals in 49 branches, but its realization may exceed expectations by as much as 10 752 packets collected food for the orphans and duafa. (source)
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