INDONESIA - FINANCE - PT Indonesia Infrastructure Assurance (PII) and the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) Handle Signs Memorandum of Understanding

www.iigf.co.id - Manila, 30 April 2012 - PT Indonesia Infrastructure Guarantee Corporation (Limited) / PII and the Islamic Corporation for Insurance of Investments and Export Credits ("ICIEC") has signed a Memorandum of Understanding today in Asia Finance and Risk Mitigation Forum 2012 in Makati City, Philippines.

ICIEC is part of the Islamic Development Bank (IDB) Group, which provides export credit and investment insurance in accordance with Islamic Sharia to the parties that invest in member countries ICIEC or export of these countries.   (source)

INDONESIA - FINANCE - ICIEC and IIGF sign an MOU to support investors in Indonesia

www.cpifinancial.net - The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Indonesia Infrastructure Guarantee Fund (IIGF) signed a Memorandum of Understanding (MOU) during the 2012 Asia Finance and Risk Mitigation Forum in Makati City, Philippines on 30 April 2012.

Dr. Abdel Rahman El-Tayeb Taha, the Chief Executive Officer of ICIEC and Ms. Sinthya Roesly, Chief Executive Officer of IIGF signed the MOU. The MOU aims at establishing – consistent with their respective operational policies – a lasting relationship between the two entities in furtherance of their desire to co-ordinate their activities and seek mutual cooperation in promoting infrastructure investments into Indonesia. The ICIEC is 67 per cent-owned by the Islamic Development Bank. (source)

INDONESIA - BANKING - Increase in Business, BNI Syariah Hold AQL

WWW.REPUBLIKA.CO.ID, JAKARTA - BNI Syariah Lower Dam branch of the Central Jakarta in cooperation with the Ar-Rahman Quranic Learning Center (AQL) to improve the business. BNI Syariah will manage the financial transactions AQL community.

The signing of a Memorandum of Understanding done at Masjid Baitul Ehsan, Bank Indonesia, Saturday (18/2). In this event, a memorandum of understanding signed by BNI Syariah Branch Dam Downstream Adjat Basarah, Chairman (AQL) Bachtiar Nasir as well as invited guests. (source)

INDONESIA - BANKING - UI and BNI Syariah sign MoU

JAKARTA: PT Bank BNI Syariah and the University of Indonesia (UI) to conduct the signing of Memorandum of Understanding (MoU) and the Cooperation Agreement on Implementation Support of Education and Utilization of Products and Services Banking today in Depok.
The event was attended by Rizqullah (Director of BNI Syariah), Bambang Widjanarko (BNI Syariah Business Director), Gumilar Rusliwa Somantri (Rector of UI), Sunardji (UI Vice Chancellor for Research, Development of Industrial Co-operation) and its leadership ranks of the UI.  (source)

INDONESIA - BANKING - Bank Syariah Mandiri Serve Citizens bailout Umrah Bandung

REPUBLIKA.CO.ID, JAKARTA - Bank Syariah Mandiri (BSM) Umrah travel agency holding companies in the bailout program for the cost of the trip to the Holy Land of Mecca. "Through this layananan make it easier for those who intend to Umrah, with this system cost first trip can be bailed out by Bank Syariah Mandiri," said Andri Kopo BSM Branch Salman on the sidelines of the signing of the cooperation service with Sanabil Tour and Travel in Bandung, Thursday .  (source)

INDONESIA - FINANCE - ICD poised to boost activity with SR1 billion SME fund - Indonesia gets attention

In the wake of the impact of the continuing global financial crisis, the euro zone debt crisis and the so-called Arab Spring - and their economic impact on global and regional markets including member countries of the Islamic Development Bank (IDB), the Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the IDB Group, is embarking on a new strategy to take its financing directly to its constituencies and to make its financing impact more on the real economy through the generation of employment and promoting growth. This includes opening regional offices; setting up two new departments at the ICD; launching more Ijara (leasing companies) in diverse markets such as Albania, Saudi Arabia and Algeria; establishing SME investment funds including a SR1 billion fund for Saudi Arabia; and establishing a mortgage finance company in Saudi Arabia in anticipation of the long-awaited mortgage law. (source)

WORLD - TRADE FINANCE - ITFC signs up HSBC as key trade finance partner

CPF FINANCIAL  - International Islamic Trade Finance Corporation (ITFC) and HSBS sign MoU to implement Shari’ah-compliant trade financing

Dr Waleed Al-Wohaib, Chief Executive Officer, International Islamic Trade Finance Corporation

HSBC has signed a Memorandum of Understanding with the Islamic Development Bank’s ITFC on trade finance and to provide help on various treasury activities such as joint trade financing and investment of liquidity. The MoU means ITFC customers will be able to use HSBC’s services to facilitate the issuance of Letters of Credit on behalf of ITFC for customers who import or export goods.

HSBC Amanah, the bank’s global Islamic finance business, is present in seven countries, four of which contribute more than 50 per cent to the GDP of Organisation of Islamic Conference (OIC) member countries. (source)

INDONESIA - EVENTS - High level conference - RI, Malaysia to promote ties on Islamic banking

Indonesia and Malaysia have agreed to establish a regulatory framework that will enable them to better synchronize their Islamic financial concepts.

As part of the plan, two memorandum of understandings (MoUs) were inked on Monday between the Indonesian Sharia Banks Association (Asbisindo), the Association of Islamic Banking Institutions Malaysia (AIBIM), as well as between Maybank Islamic Bhd and PT Bank Syariah Mandiri. (source)

EDUCATION - MBN Collaborates with IEF Trisakti

Jakarta, (29/4). In line with the needs of shariah human capital, Madani Business Network (MBN) collaborates with Islamic Economic and Finance (IEF) Universitas Trisakti, as one of the revolutionary road to robust the development of Islamic finance in Indonesia.

The MOU signing ceremony attended by the advisor of MDN Luthi Hasan and the chairman of program of the IEF Trisakti Prof. Dr Sofyan Syafri Harahap and IEF faculty members.

Prof  Dr Sofyan Syafri Harahap in his speech addressing that nowadays we are in need of excellent shariah human capital along with the rapid development of Islamic finance businesses, therefore we are in need of human capital in large numbers as well as public education in Islamic economic transactions. (full story)