INDONESIA - BANKING - Islamic Banking Products Exact substance of Islamic Economics

www.pkesineraktif.com- Jakarta (7/2) - The product contained in the Islamic banking should not only be based on the legal aspects of sharia, but also has economic substance of sharia. This was disclosed Directorate of Islamic Banking Director of Bank Indonesia (BI) Mulya Siregar told reporters in Jakarta, Monday (6/2).

He said that the economic substance of Islam to be above rather than Islamic legalistic. Because making a product into a product that Islamic banks could be done. (source)

INDONESIA - BANKING - 2011 Islamic Banking Financing Rises

JAKARTA - Islamic banking financing period November 2011 increased by Rp 31.87 trillion (45.37 percent) than the same quarter of 2010. In the fourth quarter of 2010, total financing of Islamic banking to reach Rp 70.24 trillion increase to Rp 102.11 trillion in the fourth quarter of 2011.
Bank Indonesia (BI) noted the funds raised from the Islamic banking community in this period increased by Rp 29.72 trillion (38.28 percent), from Rp 77.64 trillion to Rp 107.36 trillion. (source)

INDONESIA - BANKING - Sharia Banking Assets Rp130 ​​Trillion

JAKARTA: Islamic banking assets amounting to Rp130 ​​trillion recorded at the end of October 2011 increased by 48.57% compared to same period previous year.
Mulya Siregar, Director Islamic Banking Bank Indonesia (BI) said the increase in assets is in line with the disbursement of funding and third party fund raising (DPK) conducted by Islamic banks, Islamic business units, and bank financing Islamic people  (source)

INDONESIA - BANKING - BI: Sharia Banking Assets Rp 129 Trillion

JAKARTA - The total assets of Islamic banking to mid-November 2011 reached Rp 129 trillion, up from the end of 2008 amounting to Rp 49.6 trillion."The total assets of Islamic banking by September 2011 reached Rp 126.4 trillion, and data that I received this morning reached Rp 129 trillion," said Director of the Directorate of Islamic Banking BI, Mulya Siregar, said here on Wednesday.  (source)

INDONESIA - BANKING - Islamic finance Indonesia part of the 'big 5'

JAKARTA - Report of the Global Islamic Finance Islamic finance industry in 2011 include Indonesia in the five major world Islamic financial industry, or rather was fourth.
"The report in London that put Indonesia in the fourth," said Director of the Directorate of Sharia Banking Regulatory Bank Indonesia (BI), Mulya Siregar in the Economic Outlook 2012: Opportunities and Challenges of Islamic Economics in Jakarta on Wednesday. (source)

INDONESIA - BANKING - Observing Rahn Gold In Islamic Banking

Jakarta (27/10) - Hands-rahn or pawning gold that is now commonplace Islamic banks are relying on the fatwa of National Sharia Council (DSN) number 79 on Qardh. Where Islamic bank may use customer funds to finance the contract qardh (financing) which is a means or completeness of the other transactions using Mu'awadah contract (exchange and can be commercial). Qardh not get rewarded but Islamic banks earn income from the administration and ijara.
But there are things that are sometimes forgotten, namely Islamic banking fatwa number 19 on Qard where there are three sources of funds described Qardh for Rahn is the first of the capital of Islamic banks, two Islamic banks profits are set aside and the three other institutions or individuals who entrust infaq its distribution to the bank Sharia. Qardh of going back to the first source of Islamic banks, while Qardh of the second and third sources are Qardh hassan. (source)

INDONESIA - BANKING - Sharia banking industry sees 46.55% rise in assets

JAKARTA: Sharia-based banking industry in Indonesia had its total assets increase 46.55% at end-September from a year ago. Total assets grew to IDR126 trillion from IDR85.97 trillion at end of September 2010.

The figure consists of IDR123 trillion from full-fledged Sharia General Banks (BUS) and Sharia Business Units (UUS), IDR3 trillion from Sharia Credit Banks (BPRS), said Bank Indonesia Director Mulya Siregar.  (source)

INDONESIA - BANKING - Major sharia banks lead market share expansion

JAKARTA: Sharia banks showed progressive business growth in the third quarter of the year, as major banks still dominated credit disbursement and public deposits.

 

PT Bank Syariah Mandiri (Sharia Mandiri) expected credit disbursement as much as IDR34.41 trillion in 3Q/2010, increasing 61.33% from IDR21.33 trillion in the earlier year period.

 

“It is unaudited and approximated data. The official one will be published in newspapers,” said Sharia Mandiri President Director Yuslam Fauzi.  (source)

INDONESIA - BANKING - Islamic finance reach Rp94 trillion as of September

bisnis.com - JAKARTA: Bank Indonesia reveal the distribution of financing Islamic banking industry as of September reached Rp94 trillion, growing 49.32% compared to same period previous year Rp62, 94 trillion.

Director of the Directorate of Islamic Banking Bank Indonesia (BI) Mulya Siregar said the financing comprises financing of Rp92 trillion sharia business unit (UUS) and dank sharia (BUS) and Rp2 trillion comes from a sharia rural banks (BPRS).  (source)

INDONESIA - BANKING - Sharia banking industry sees 46.55% rise in assets

en.bisnis.com - JAKARTA: Sharia-based banking industry in Indonesia had its total assets increase 46.55% at end-September from a year ago. Total assets grew to IDR126 trillion from IDR85.97 trillion at end of September 2010.

The figure consists of IDR123 trillion from full-fledged Sharia General Banks (BUS) and Sharia Business Units (UUS), IDR3 trillion from Sharia Credit Banks (BPRS), said Bank Indonesia Director Mulya Siregar. (source)

INDONESIA - BANKING - Indonesia Islamic Financial World Ranking 4

Jakarta (14/10) - Indonesia has a proud achievement in Islamic finance. Country Index is based on Islamic Finance, Islamic financial industry was ranked fourth of the world Indonesia. Indonesia's position was under Iran, Malaysia, and Saudi Arabia.

"This ranking is quite encouraging because we are under major countries such as Kuwait, United Arab Emirates, and England," said Director of the Directorate of Islamic Banking Bank Indonesia, Mulya E Siregar, while giving a speech at the launch of commodity sharia in Jakarta, Thursday (13 / 10).  (source)

INDONESIA - BANKING - RI Islamic Financie sits on Ranked Fourth World

REPUBLIKA.CO.ID, JAKARTA --- The development of Islamic finance in Indonesia forward rapidly. This was proved by the position of Indonesia Islamic financial industry who occupy fourth position in the world.

According to the Directorate of Islamic Banking Director of Bank Indonesia, Mulya Siregar, Indonesia Islamic financial industry position is based on a survey conducted BMB Islamic Finance Index. Indonesia's position was under Iran, Malaysia, and Saudi Arabia. "Indonesia Islamic financial industry is larger than the Union Arab Emirate, Kuwait, and Britain," she says, Thursday (13/10). (source)

INDONESIA - BANKING - IDB sells stake in Bank Muamalat, seeking some fresh fund

JAKARTA: Islamic Development Bank (IDB) plans to sell its stock ownership in PT Bank Muamalat Indonesia Tbk to raise some proceeds to fund its business expansion in other countries, said Said Taufik Ridha, Structured Finance Officer Public Private Partnership Division at IDB

“Overall, IDB’s fund is limited. Our mandate is to help develop sharia banks in 56 member countries. As one grows, it would be better if we invest the fund in other sharia banks in other countries, concerning our mandate,” he said last week. (source)

INDONESIA - BANKING - Islamic Banking Need to Prepare the MEA Infrastructure

INVESTOR DAILY INDONESIA  - JAKARTA - The Islamic banking in Indonesia will need to prepare supporting infrastructure in the face of the ASEAN Economic Community (MEA) in 2015.
"Infrastructure services include ease of payment and transaction-related business activity in real time with adequate technology and integrated network," said Director of the Directorate of Islamic Banking Bank Indonesia (BI), E Mulya Siregar, said here on Wednesday. (source)

INDONESIA - REGULATIONS - Will BI Revised Compliance Test and proper Islamic Banking

REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) will soon revise the rules and proper test of the ability of Islamic banks. Director of the Directorate of Islamic Banking BI, Mulya Siregar, said the central bank would simplify the stages of the fit and proper test for Islamic bankers.

Although so far its provisions are different from the conventional, he said it would harmonize with the existing provisions in the conventional. "There used to be eight stages, now four," he said. (source)

INDONESIA - BANKING - BI requests Islamic banks to be compact

REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) has called on Islamic banks to be compact and not fragmented. "If not solid, how to convey the message to the community," said Director of the Directorate of Islamic Banking BI, Mulya Siregar, the activities of the Association of halal bi halal Indonesia Sharia Banking (Asbisindo).

Mulya said that compactness is also necessary in the face of an unstable world economy is today. In the midst of economic crisis to attack Europe and America, he admitted the threat of the crisis could spread to any country. (source)

INDONESIA - REGULATIONS - BI Prepare New Rules For Islamic Banking

Jakarta (16 / 9) - Bank Indonesia (BI) will issue two new policies in the form of Bank Indonesi (PBI) for Islamic banking. PBI itself contains the rules of risk management and the fit and proper. This was revealed by the Director of the Directorate of Islamic Banking BI Mulya Siregar said here on Thursday (15 / 9) night. (source)

INDONESIA - REGULATIONS - BI Remove the New Regulation of Islamic Banking Risk Management

Jakarta (16 / 9). Islamic bankers who had been managing the financial risk management felt quite relieved, the article of Bank Indonesia will issue two new regulations specialized in risk management in Islamic banking. Thus, Islamic banks no longer need to manage risk management berstandarkan with conventional banking.

Thus statement Directorate of Islamic Banking, E Mulya Siregar when talking to bankers who are members of Asbisindo sharia in Jakarta, yesterday (15 / 9). (source)

INDONESIA - BANKING - Assets Islamic banks reached 12 Trillion Rp in August

Jakarta, (16 / 9) - Bank Indonesia has recorded the homeland of Islamic banking assets reached Rp 120 trillion as of August of this. This was disclosed the Director of the Directorate of Islamic Banking Bank Indonesia, Mulya Siregar, on the sidelines of halal bi halal Asosisasi Indonesia Sharia Banking (Asbisindo), Thursday (15 / 9) night. (source)

INDONESIA - BANKING - Islamic Banking Assets Up 45 Percent

REPUBLIKA.CO.ID, JAKARTA - Homeland Assets of Islamic banks, Islamic banks (BUS) and sharia business unit (UUS), again showing significant growth. This time, based on statistical data of Bank Indonesia (BI), in the first half of 2011, in which Islamic banks managed to increase assets by 45 percent when compared to the same position in the previous year.
An increase in assets of Rp 75.205 trillion in June 2010, to Rp 109.750 billion in June 2011. Asset growth is seen with increasing third-party funds (TPF), which affects the increase in financing. (source)