INDONESIA - CAPITAL MARKETS - Sukuk Sale in Works For End of the Year

www.thejakartaglobe.com - Indonesia will sell dollar-denominated sukuk toward the end of the year, according to Dahlan Siamat, a director of Islamic financing at the debt management office, provided it gets approval from the finance minister.

Dahlan declined to disclose the size of the offer, saying on Monday that “we have figures for the amount in the report we sent to the finance minister, but he will be the one to decide.”

He did not return calls from the Jakarta Globe seeking comment on the Islamic debt sale. Finance Minister Agus Martowardojo was not available for comment.  (source)

INDONESIA - BANKING - Race for OJK commissioner posts begins

www.thejakartapost.com - The race is on for the most powerful seats in Indonesia’s financial sector after more than 150 experts and professionals enlisted in a drafting process to become Financial Service Authority (OJK) commissioners, which ended on Tuesday.

The candidates will compete for seven out of nine seats as two places are allocated to officials specifically assigned by the Finance Ministry and the central bank.

A selection committee, led by Finance Minister Agus Martowardojo, will have a little more than one month to select three candidates for each of the seven seats and recommend the names to President Susilo Bambang Yudhoyono.  (source)

INDONESIA - MICRO FINANCE - Gov’t Encourages Microfinance Institutions to Shift

http://en.indonesiafinancetoday.com - The government encourages Microfinance Institutions (Lembaga Keuangan Mikro/LKM) to quickly change into rural banks (Bank Perkreditan Rakyat/BPR) to avoid the practice of shadow banking. Agus Martowardojo, Minister of Finance, said the move was aimed to facilitate the supervision of the institutions conducting community fund raising. (source)

INDONESIA - CAPITAL MARKETS - STATE BONDS: Government sukuk issuance January 31

www.bisnis.com - JAKARTA: The government will publish a project-based sukuk country on Jan. 31 to meet a target issuance of state bonds for the quarter I/2012 Rp53, 2 trillion.
For the issuance of Islamic bonds in the country this year, the project as well as state assets that could be used as the basic (underlying assets) reached Rp66, 1 trillion. (source)

INDONESIA - CAPITAL MARKETS - Indonesia aims to issue project-based sukuk in H1

uk.finance.yahoo.com - JAKARTA, Jan 24 (Reuters) - Indonesia plans to issue 2 trillion rupiah ($223.59 million) of project-based sukuk in the first half of this year, the finance minister said on Tuesday, after the country failed to sell the sukuk last year as investors asked for higher yields.

The Islamic instrument was first offered in October last year, only to see weak investor appetite due to the country's shallow sukuk market. (source)

INDONESIA - BANKING - Selection Committee for OJK Commissioners Established

www.Theindonesiatoday.com - President Susilo Bambang Yudhoyono has appointed nine members of Selection Committee for commissioners of Financial Services Authority (OJK), Kontan.co.id reported.
Finance minister Agus Martowardojo said the president has signed the decree Friday (Jan 20).  (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 - Finance Minister: Government Fully Supports Islamic Economic

REPUBLIKA.CO.ID, JAKARTA-The Minister of Finance Agus Martowardojo asserted, the government gave full support to the development of Islamic banking in Indonesia. In addition to regulatory support, the government has used many instruments in financing-financing Islamic state.
''The government continues to support a wide range of regulations,''said Agus on the sidelines of the inauguration committee the Association of Islamic Economics (IAEI) from 2011 to 2013 in the Ministry Keuangam, Friday (21/10). He pointed out, Islamic economics has been included in the revised Law on Taxation. (source)

INDONESIA - CAPITAL MARKETS - Looking to Plug Deficit, Indonesia Starts Meeting Investors on Sukuk

Government officials leave today for a series of meetings with overseas investors to gauge their interest in an offering of Islamic bonds, or sukuk.

“We will start tomorrow [Friday],’’ said Dahlan Siamat, the Ministry of Finance’s director of Islamic finance. He was responding to a question about when the government would begin road shows to drum up interest in the dollar-denominated Islamic notes. (source)

INDONESIA - MALASYA - THAILAND - Market Review

INDONESIA: The government will likely sell a global sukuk later than September, Rahmat Waluyanto, director general at the finance ministry’s debt management office, said in Jakarta. Indonesia doesn’t have urgent funding needs and is looking for the right timing for the sale because of global market conditions, Waluyanto said. The government will sell a “maximum” of $1 billion of Islamic bonds, Finance Minister Agus Martowardojo said Aug. 23.  (source)

INDONESIA - CAPITAL MARKETS - Indonesia Finance Minister to Start Global Sukuk Roadshow

JAKARTA, KOMPAS.com - Indonesia plans to begin a roadshow next week for a global sukuk issue of around $1 billion, the country's finance minister said.

Agus Martowardojo told Dow Jones Newswires late Wednesday that the government has met with arrangers of the issue and will start visiting “global financial hubs“ next week, raising the prospect of imminent issuance. The government has previously said that a global sukuk issuance would be likely in the third quarter.(source)

INDONESIA - CAPITAL MARKETS - Indonesia Plans $1 Billion Global Islamic Bond Issue

WSJ.COM - JAKARTA—Indonesia plans to begin investor meetings next week for a global sukuk issue of about $1 billion, the country's finance minister said. 

Agus Martowardojo said late Wednesday that the government had met with arrangers of the Islamic-bond issue and would start visiting "global financial hubs" next week, raising the prospect of imminent issuance. The government previously said that a global sukuk issue would be likely in the third quarter.(source)

INDONESIA - CAPITAL MARKETS - Indonesia Eyes Middle East Buyers for Fresh Round of Sukuk Bond Sales

Indonesia plans to sell dollar-denominated Islamic bonds by the end of December, the second sale of the securities in two years, and it is looking to Persian Gulf investors to purchase the debt.

“We are targeting Middle East investors to buy our global [Islamic bonds],” said Rahmat Waluyanto, director general of the debt management office at the Ministry of Finance, in a text message to the Jakarta Globe .

“Investors from other parts of Asia, Europe and the United States are also welcome.’’  (source)

INDONESIA - CAPITAL MARKETS - Indonesia’s higher sukuk returns may bolster sale

SINGAPORE • Higher returns compared to other Islamic government bonds and the scarcity of new sukuk this year may lure investors to Indonesia's first sale of international Shariah-compliant debt since 2009.

The South-East Asian nation, home to the world's largest Muslim population, will sell a "maximum" US$1 billion (RM2.96 billion) of global sukuk in the third-quarter (3Q), Finance Minister Agus Martowardojo said last week.

Indonesia's 8.8% Islamic bonds due April 2014 have returned 35% since they were first sold in April 2009, Royal Bank of Scotland Group plc prices show, compared to the average 29% return for government sukuk globally, HSBC/NASDAQ Dubai US Dollar Sukuk Index shows. (source)

INDONESIA - CAPITAL MARKETS - Indonesia hires Citi, HSBC, Stanchart for US$1 billion sukuk sale

JAKARTA: Indonsian Finance Ministry has appointed three underwriters to advise on a plan to sell US$1 billion sharia bonds in the third quarter.

The three underwriters are Citi, HSBC Securities and Standard Chartered Bank (Stanchart), two executives familiar with the matter.  (source)

INDONESIA - CAPITAL MARKETS - Indonesia Selects 3 Global Sukuk Arrangers - Finance Minister

NASDAQ.COM - JAKARTA -(Dow Jones)- Indonesia has appointed three arrangers for the planned global sukuk, likely to be issued in the third quarter, Finance Minister Agus Martowardojo said Tuesday.

Martowardojo didn't saying who the arrangers are. (source)

INDONESIA - CAPITAL MARKETS - Maximum Issuance of Global Sukuk US$1 Bn

The collected funds will relieve the fiscal needs of 2011 Revised State Budget.

 VIVAnews - The government said the issuance of global sukuk which will be done in the third quarter or second half of the year is intended to raise funds amounting to as much as US$1 billion.

The collected funds will relieve the fiscal needs of 2011 Revised State Budget.  (source)

INDONESIA - CAPITAL MARKETS - Government ponders USD 1 billion Sukuk Q3, 2011

JAKARTA-The government plans to issue a global sukuk worth U.S. $ 1 billion in the third quarter of 2011.

"We plan to raise global sukuk fund a maximum of up to U.S. $ 1 billion," said Finance Minister Agus Martowardojo here on Tuesday. (source)

INDONESIA - CAPITAL MARKETS - The government aim at an indicative target of global sukuk of U.S. $ 1 billion

JAKARTA: The government will issue a global sukuk in the quarter III/2011 with an indicative target of a maximum of U.S. $ 1 billion.

"Global Sukuk will be issued in the third quarter, the process (preparation) has already started. Our plan will raise funds through sukuk global reach up to about U.S. $ 1 billion, maximum," said Finance Minister Agus D. W. Martowardojo now open along with the media, this afternoon. (source)