INDONESIA - TAKAFUL - COOPERATION: Jaya Protection Takaful Islamic banking is ready trailer

www.bisnis.com - JAKARTA: PT Jaya Protection Takaful, Islamic general insurance company subsidiary of PT Jaya Protection, aiming for cooperation with a number of Islamic banks for the sale of insurance products through banks (bancassurance).

Yudha Primary, President Director of PT Jaya Protection Takaful (Japro Takaful), said the strengthening of the bancassurance distribution channel is one of the strategies to be undertaken by companies to drive business growth this year.

"We need partners that are many and strong. We want to work with several banks. One was with Bank Muamalat, we are preparing the consortium, "he told Business, last weekend.  (source)

INDONESIA - TAKAFUL - Shariah Bumida Target 70 Percent Premium Increase

WWW.REPUBLIKA.CO.ID, JAKARTA - Young Bumiputera (Bumida) Shariah target premium in the year 2012 amounting to Rp 52.25 billion. This number increased 70 percent compared to last year, which is Rp 30.92 billion.
"The growth we have achieved the last two years, we are optimistic can achieve 2012 target," said President Bumida, Mohammad Irsyad, told journalists on Monday (2/4).
According Irsyad, sharia potential has yet to fully handled. Market share is still in the position of sharia industry 4.9 percent. It is the ideal opportunity to expand the syariah Bumida still quite large.  (source)

INDONESIA - LEASING - Al Ijarah focus on retail

JAKARTA-PT Al-Ijarah Indonesia Finance (ALIF) until the end of this year will focus on retail business instead of financing the corporate sector, because the market is very promising.

President Director of PT ALIF, Herbudhi S Tomo here on Friday said the company originally did business financing to corporations, but the growth is far slower than the retail sector.

"Therefore, with the remaining time available, the company will focus its attention to the retail market is still pretty good," he said. (source)

INDONESIA - BANKING - Shariah Banks Doing Booming Business

The rapid expansion of Shariah banks in Indonesia paved the way for Shariah loans to increase by almost half in the first six months of the year, Investor Daily reported on Saturday, quoting a central bank director.

Mulya Siregar, director of Shariah banking at Bank Indonesia, said on Friday that Shariah loans rose 49 percent to Rp 83 trillion ($9.8 billion) through June, from the same period last year. He also said the Shariah financing-to-deposit ratio was at 95 percent.  (source)

BANKING - Panin Bank Infuses Capital to Panin Syariah

The capital injection of Panin Bank to Panin Syariah will increase its paid-up capital to Rp 480 billion. (IFT/DINUL MUBAROK)  

JAKARTA (IFT) – PT Pan Indonesia Bank Tbk (Panin Bank) will infuse a capital of Rp 300 billion to its subsidiary, PT Bank Panin Syariah (Panin Syariah) for business expansion in the second semester of 2011, said Roosniati Salihin, Vice President Director of Panin Bank.(full story)

BANKING - Two Banks to Add Sharia Subsidiaries Capital

 
Panin Bank will provide additional funds to Bank Panin Syariah, while Bank Permata will augent Permata Syariah's funds. (IFT/DINUL MUBAROK) JAKARTA (IFT) – Two banks will add funds to their sharia subsidiaries to achieve more than 50 percent of the company’s financing distribution. PT Pan Indonesia Bank Tbk (Panin Bank) will provide additional funds to PT Bank Panin Syariah, while PT Bank Permata Tbk (BNLI) will augent Permata Syariah's funds.(source)

FINANCE - Bank Panin Syariah to provide US$34 million financing to Al-Ijarah Indonesia Finance

JAKARTA-PT Al Ijarah Indonesia Finance menggaet Bank Panin Syariah meluncurkan pembiayaan di sektor ritel sebesar Rp 300 miliar. Pembiayaan tersebut nantinya ditujukan khusus untuk mobil dan sepeda motor. (source)