INDONESIA - FINANCE - Sierad Produce Obtaining Additional Loan Facility From Syariah Mandiri Bank (BSM)

2011 July Sierad Produce Syariah Mandiri Bank (BSM) - 2010 09 02 (Eng)

THAILAND - FINANCE - Islamic Bank's B1bn loan draws scrutiny

The Finance Ministry has launched an investigation into Islamic Bank executives who approved an unusual loan worth one billion baht to eight projects even though their collateral values were less than the amount of the loan, said a senior finance official.

The ministry set up a committee chaired by Amnuay Preemonwong, inspector-general of the Finance Ministry, and representatives from other state agencies, such as the Office of the Attorney General. (source)

INDONESIA - FINANCE - SMF pours IDR300 billion loan to BSM

JAKARTA: PT Bank Syariah Mandiri obtained IDR300 billion loan facility from PT Sentra Multigriya Finansial (SMF) to support expansion of its property financing business.

The agreement was sealed between SMF’s President Director Erica Soeroto and BSM’s Director Amran Nasution.  (source)

INDONESIA - BANKING - DKI Bank Disbursed Rp 200 Billion Loan to PNM

BERITA JAKARTA - PT. DKI Bank disbursed Rp 200 billion of working capital loan to PT. Permodalan Nasional Madani (PNM). This loan is tenured 4 years which distributed in Wa’ad Wal Mudharabah – Executing scheme of Rp 100 billion and in form of working capital loan (conventional) of Rp 100 billion. The signing of this fund distribution was conducted by President Director of DKI Bank Eko Budiwiyono and President Director of PNM Parman Nataatmadja in Jakarta, Monday (8/22). (source)

INDONESIA - BANKING - Banks Offer More Consumer Loans During Idul Fitri

JAKARTA (IFT) – Some banks uses the fasting month and Idul Fitri holidays to raise their loan portfolio, by offering consumer loans. It is estimated that there will be growth in consumer goods as the Idul Fitri nears, as this will prompt a demand for consumer loans. (source)

FINANCE - Sharjah Islamic Bank launches 0% profit Hajj financing service

SHARJAH — Sharjah Islamic Bank, or SIB, has announced the launch of 0% profit financing service for Hajj 
under the theme “Perform Hajj this year and pay it off over the year with no profit”. 

BANKING - MICROFINANCE - Govt improving provision of microcredit loans to SMEs

The government is improving the provision for KUR microcredit as part of efforts to accelerate the disbursement of the targeted Rp 13.1 trillion (US$1.45 billion) this year, a senior minister said Thursday.

Coordinating Economic Minister Hatta Rajasa said better microcredit provision, both in terms of credit ceilings and financing schemes, had been adopted by government to accelerate the disbursement of microcredit loans for micro businesses.

OPINION - Indonesia Reviews Shariah Loan Restructurings: Islamic Finance

original post : http://islamicfinanceindonesia.blogspot.com/2010/08/2010-august-18th-indonesia-reviews.html

 As you ca imagine, my attention got drawn to this news item.


The following passage was the most important : “Shariah banks have asked that loans that are still current can be restructured,” Mulya Siregar, director of Islamic banking at the central bank, said in an interview in Jakarta yesterday. “We’re having intensive discussions and will make a decision by the fourth quarter at the latest.” Current regulations issued in 2008 only permit terms to be altered once debt turns non-performing, Siregar said."

BANKING - FINANCE - Indonesia Reviews Shariah Loan Restructurings: Islamic Finance

Jakarta. Indonesia, the nation with the biggest Muslim population, may reduce restrictions on Islamic banks by allowing them to change terms on loans before they become troubled.

“Shariah banks have asked that loans that are still current can be restructured,” Mulya Siregar, director of Islamic banking at the central bank, said in an interview in Jakarta on Tuesday.

“We’re having intensive discussions and will make a decision by the fourth quarter at the latest.”