INDONESIA - CAPITAL MARKETS - Indonesia to sell US$106.4-M Islamic Bond

www.livetradingnews.com -Indonesia is scheduled to sell sovereign Islamic bond on 26 June at indicative value of 1-T Rupiah (about US$106.4-M), aiming at financing the state budget this year, a statement released by the financial ministry said Wednesday.
The sale of the Islamic bond would be conducted through auction basis, to sell 4 series of the bond, maturing from Y’s 2018 to 2037 and providing rate of returns between 4.45 to 6.10%.
In its revised budget this year, Indonesian government has proposed to raise net bond sales by 25-T Rupiah to 159.6-T Rupiah this year due to widening budget deficit.  (source)

INDONESIA - BANKING - Islamic Commercial Banking in Indonesia and Malaysia

www.livetradingnews.com - CIMB Islamic, HSBC Amanah and OCBC Al-Amin said the biggest challenge to the growth of Islamic commercial banking is a lack of awareness and the need to explain the advantages of Shariah-compliant financing from an economic perspective.
Islamic trade financing isn’t competitive, Mohamad Nedal, former secretary-general of the Accounting & Auditing Organization for Islamic Financial Institutions in Bahrain, said in an interview last year.
“Having a multinational corporation convert to Islamic financing would need a majority of management to believe in Islam,” said Fares Mourad, head of Islamic finance at Bank Sarasin & CIE, the Swiss wealth manager controlled by Rabobank Groep, said. (source)

INDONESIA - BANKING - Bank Mandiri to Keep Growing

livetradingnews.com - Bank Mandiri, Indonesia’s largest lender by assets, predicts lending to grow 21%, the company said on Friday.

Bank Mandiri loan growth target would be slightly lower than the target made by Bank Indonesia last week.

Shayne Heffernan has issued a Strong Buy PT Bank Mandiri (Persero) Tbk in 2010 with a Price target of 9000RP by 2012. (source)