INDONESIA - REGULATIONS - BI-term review of the rules of Islamic forex

www.bisnis.com - JAKARTA: Bank Indonesia is conducting a study to create a kind of instrument placement of foreign currency deposits for Islamic banking.
Difi A. Johansyah, Director of Public Relations Group of Bank Indonesia (BI), said the central bank's Monetary Management Department is conducting studies to instrument placement deposits (term deposits) of foreign exchange which currently only exist in the conventional, can be adopted by Islamic banks.
Along with the move, the central bank is also being carried out studies of the regulation of Islamic monetary operations are expected in the not too old to do the adjustment.
"So the next target of Islamic banks can also avail of foreign currency deposit scheme similar term," he told Business Today Sunday, June 10, 2012.  (source)

INDONESIA - REGULATIONS - Not subject to Rule Islamic Bank Advances

www.kompas.com - JAKARTA, KOMPAS.com - Rules loan to value ratio for mortgages (mortgage) loans and advances to a motor vehicle, apply for a new conventional-based bank. Islamic banks have not been affected by the rule.

Head of the Directorate of Banking Research and Regulation of Bank Indonesia, Filianingsih, ensuring that, when asked by reporters. "We have not been subject to the rules of Islamic banks," said Fili, in Jakarta, Tuesday (03/20/2012).

BI rules require that prospective home buyers with a building area exceeding 70 square meters using a mortgage from the bank, to pay a minimum down payment of 30 percent of the sales price. (source)

INDONESIA - MONEY MARKETS - Publish Rules Enhance BI Syariah Money Market

JAKARTA-Bank Indonesia issued Bank Indonesia Regulation (PBI) that completes the provisions of the interbank money market based on sharia (SATISFIED) that had been considered less encourages the deepening of the Islamic financial market.
"PBI No. 14 of 2012 which was published on January 4 is the amendment to PBI No. 9 of 2007 regarding SATISFIED," said Bank Indonesia Head of Public Relations Bureau, Difi A. Johansyah here on Friday. (source)

INDONESIA - EVENTS - Exploring & Developing the potential of Islamic Finance through the D-8 Islamic Microfinance Workshop

m.bi.go.id - No. 13/ 38 /PSHM/Humas

The Deputy Governor of Bank Indonesia, Halim Alamsyah, opens the "D-8 Islamic Microfinance Workshop", which is also the 2nd D-8 Working Group on Development of the Islamic Financial Services Industry, on Friday 11th November 2011 in Jakarta. Bank Indonesia (BI) is hosting the workshop in conjunction with Developing Eight (D-8) member countries, the Ministry of Foreign Affairs and the Islamic banking arm of BRI. The meeting is themed "The Role of Islamic Microfinance in Economic Prosperity and Community Empowerment", which incorporates a number of issues relating to policy, the concept and best practices of Islamic microfinance in Indonesia as well as other Developing Eight member countries, and will be held from 11th – 13th November 2011.(source)

INDONESIA - REGULATIONS - OJK Bill Approved

TEMPO Interactive, Jakarta:Indonesia's parliament on Thursday approved a long-delayed bill creating a new regulator to oversee a growing financial industry in Southeast Asia's largest economy but faced widespread skepticism on how effective the watchdog would be.

The new regulator, to be known as the OJK, will take over the supervision of banks, brokerages and insurance firms from the central bank and capital market watchdog Bapepam-LK starting from 2013.  (source)

INDONESIA - REGULATIONS - Indonesia Approves New Regulator to Oversee Banks

Indonesia’s House of Representatives on Thursday approved a long-delayed bill creating a new regulator to oversee a growing financial industry in Southeast Asia’s largest economy, part of global efforts to ward off future bank collapses.

The new regulator, to be known as the OJK, will take over the supervision of banks, brokerages and insurance firms from the central bank and capital market watchdog Bapepam-LK starting from 2013.  (source)

INDONESIA - BANKING - Banks wage war on text message-based fraud

Bank Indonesia says it will hold a meeting with several national banks united in the banking mediation working group (WMGP) to discuss ways to fight fraudulent text messages leading to theft via bank transfers.

“The banks joined in WGMP have made commitments to cooperate in taking preventive measures to protect bank customers from such text messages. Bank Indonesia and WGMP members are ready to wage war on people who transfer request texts as a medium for theft,” Bank Indonesia spokesman Difi A. Johansyah says in a press release as quoted by tribunnews.com. (source)

INDONESIA - REGULATIONS - Central bank finalizes bank ownership regulation

JAKARTA: The meeting of Board of Governors of Bank Indonesia is finalizing the regulation that will limit the ownership in banks. Still, there is no specified date when it will take effect.

The central bank has been reviewing the possibility to limit the ownership in banks at maximum 50%, or maybe less, to avoid single presence in a bank. (source)

INDONESIA - REGULATIONS - Banking Ownership Policy Returned to Technical Team

Theindonesiatoday.com - Board of governors of Bank Indonesia has returned the draft of policy that limits ownership of a bank to below 50% to the technical team for further review.

Bisnis Indonesia quoted Difi A Johansyah, head of PR division of Bank Indonesia, saying the draft has been reviewed by the board of governors. (source)

INDONESIA - BANKING - Indonesia Bank Chief Denies Suspending Bank Purchases

JAKARTA, KOMPAS.com - Bank Indonesia Governor Darmin Nasution on Friday denied reports that permits for investors to buy local banks had been suspended pending new rules on ownership caps.

“Acquisition processes can still continue,” Nasution was quoted as saying by Dow Jones Newswires.

Bank Indonesia spokesman Difi Johansyah had earlier said the issuance of permits to purchase banks had been suspended until a decision was made about new investment rules. “Hopefully the regulation can be issued later this year,” he said. (source)

INDONESIA - BANKING - Indonesia bars bank M&A, pending new ownership rules

JAKARTA, Aug 12 (Reuters) - Indonesia's central bank temporarily barred takeovers in the banking sector, citing upcoming ownership rules, sowing more uncertainty about the regulatory environment in Southeast Asia's biggest economy.

Indonesia's expected imposition of bank ownership limits, including those on foreign investors, have already scuttled some cross-border deals. If the limits are imposed retroactively, as some expect, then several offshore investors and banks will have to cut their stakes in local lenders.(source)

CAPITAL MARKETS - Indonesia suspends 3-month SBI auctions and replaces one-month Syariah SBI with a six-month tenor

(JAKARTA) Indonesia's central bank said yesterday it would suspend regular auctions of its three-month SBI (Bank Indonesia certificates) debt, a move aimed at pushing capital inflows towards longer-dated investments. The bank also dropped its one-month syariah SBI, replacing it with a six-month tenor.