INDONESIA - LEASING - Semester II, Al Ijarah Muamalat Acquisition Completed

WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Muamalat plans to complete the acquisition of Al Ijarah Indonesia Finance (Alif) in the second half. For the acquisition Muamalat spend about Rp 70 billion.

"Target is completed in the second half and it has been approved in general meeting of shareholders," said Director of Compliance and Risk Management of Bank Muamalat, Andi Buchori, the Office of Bank Muamalat, Monday (28/5). (source)

INDONESIA - REGULATIONS - Sharia financing imposed with same tax as conventional

JAKARTA: The government affirms the taxation for sharia financing to match with the regulation for conventional one.

As stated in Finance Minister Regulation No. 137/PMK.03/2011, leasing based on Islamic principles (ijarah and ijarah muntahiyah bittamlik) will be imposed with tax the same as operating lease and financial lease.  (source)

INDONESIA - LEASING - Al Ijarah focus on retail

JAKARTA-PT Al-Ijarah Indonesia Finance (ALIF) until the end of this year will focus on retail business instead of financing the corporate sector, because the market is very promising.

President Director of PT ALIF, Herbudhi S Tomo here on Friday said the company originally did business financing to corporations, but the growth is far slower than the retail sector.

"Therefore, with the remaining time available, the company will focus its attention to the retail market is still pretty good," he said. (source)

INDONESIA - BANKING - HSBC Amanah Focuses on Asset Increase

REPUBLIKA.CO.ID, JAKARTA - Sharia The Hongkong Shanghai Bank Corp (HSBC) Indonesia, HSBC Amanah, focus its activities in 2011 to improve the asset. Head of HSBC Amanah, Herwin Bustaman, said that since the double tax on the commodity murabaha 2010 and then abolished, HSBC Amanah find the confidence to release new products to spur growth. (source)