INDONESIA - BANKING - Pawn GOLD: Disbursement Danamon Syariah reach Rp154, 4 billion

www.bisnis.com - JAKARTA: The total disbursement of gold pawning business lines Sharia business unit of PT Bank Danamon Indonesia Tbk reached Rp154, 4 billion by June 2012 or grew 137% compared to the end of 2011 amounting to Rp65 billion.

Director of Islamic Banking Danamon said Herry Hykmanto surge financing through lines nisnis Gold Solution due to Danamon Syariah high demand by the public.

He describes the activities of the Islamic gold pawn is one solution for community groups who have difficulty accessing finance from banks.

"We will add branches to 150 branches from 141 in August held at this time. Branch will be scattered in Central Java, Bali, Batam and Tanjung Pinang," he said during a press conference today, Monday (07/23/2012).  (source)

INDONESIA - PAWN BROKING - Performance at the Pawnshop Pawn Gold rocketed Sharia

WWW.REPUBLIKA.CO.ID, JAKARTA - The performance of gold in the mortgage finance Sharia Pawnshops on 2011meroket to 80 percent over the previous year. Predicted rise in the gold pledge to continue in the mid to late December 2012.

Of the total outstanding mortgage financing by December 2011, Rp 2.24 trillion, 95 percent is contributed by pawning gold. Mortgage financing of gold during January 2012 were up more than 5 percent compared to December 2011 which reached Rp 950 billion. (source)

INDONESIA - GOLD PAWN - BRI Syariah Revises Gold Pawn Portfolio

www.indonesiafinancetoday.com - BRI Syariah is targeting growth in financing of about 53 percent to Rp 14 trillion. (IFT/DINUL MUBAROK)

JAKARTA (IFT) - PT BRI Syariah will be revising the distribution of gold mortgage financing this year, according to bank directors. The company will divert the focus from consumer loans to small and medium enterprise and micro finance sectors. (source)

INDONESIA - GOLD PAWN - PKES asks BI not to rush into regulating gold pawn in Islamic banks

WWW.REPUBLIKA.CO.ID, JAKARTA --- Communications Center for Islamic Economics (PKES) has called on Bank Indonesia (BI) does not rush to regulate pawn gold in Islamic banks. Related studies considered the gold pawning transactions still need to be done.

Previously, the central bank will impose liens golden rules for Islamic banks begin this February. PKES Executive Director, Brotherhood Ridwan said there are many studies that have to do BI-related gold pawn in Islamic banks. Even if this policy needs to be postponed.

"Need to study this issue empirically, lest if done will impact on future issues," said the Brotherhood in a press release received by Reuters on Wednesday (25 / 1). (source)

INDONESIA - PAWN BROKING - Bank Syariah Mandiri Businesses Pawn Gold Freeze

Jakarta - PT Bank Syariah Mandiri (BSM) has suspended the service while pawning his gold. Subsidiary of Bank Mandiri is no objection to the plan of Bank Indonesia (BI) to regulate the mortgage financing of gold.
"We support a plan to reorganize BI pawn gold. But financing-related restrictions, which I know BI has not been limited," said the Director of BSM Hanawijaya in Building Coordinating Minister for Economy, Bull Field, Jakarta, Tuesday (01/10/2012). (source)

INDONESIA - PAWN BROKING - BI to regulate gold pawning at sharia banks

Bank Indonesia (BI) will soon issue a regulation to limit the pawning of gold at sharia banks, as most of bank customers tend to use the service for speculation, the central bank’s senior executive said in Jakarta on Thursday.

“If deposits from the public are used to fund people speculating on rising gold prices, is that appropriate for sharia banks? It’s not,” BI sharia banking director Mulya Siregar told a press briefing at his office. “To make it even worse, gold prices are not rising, they’re going down.”  (source)

INDONESIA - PAWN BROKING - BI Reminds Sharia Banks on Gold Pawn

TEMPO Interactive, Jakarta:The volatile gold prices and the widespread practices of gold pawning in the banking sector have concerned Bank Indonesia. The central bank has reminded sharia banking to be careful in financing gold pawning. “Basically, it is allowed, but it has to comply with the guidelines,” said Bank Indonesia Deputy Governor Halim Alamsyah on Monday.

Many banks suspended their gold pawning services after gold prices declined within the last month. Precious metal price at the PT Aneka Tambang is now only IDR 495,000 per gram after hitting IDR 515,000 per gram. (source)

INDONESIA - BANKING - BI will Set Syariah gold pawning regulation

REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia will establish rules relating to gold pawning transactions in Islamic banks. That policy because there are a number of Islamic banks in violation of the agreement of gold pawning transactions.

Gold pawn transaction agreement violations committed by Islamic banks which were related to financing ratio (FTV) or the value of mortgage financing as well as the ceiling. According to the Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, FTV and ceiling amount of financing previously submitted by the respective Islamic banks.

"We set them based on the assertion that FTV so, we hold, it turns out after we check her FTV exceeded," he said on Friday (23/12).  (source)

INDONESIA - BANKING - Mandiri Syariah and POS Indonesia working together for Islamic mortgages and pawn broking

JAKARTA: PT Bank Syariah Mandiri established cooperation with PT Pos Indonesia in the marketing of products and the opening of a special counter Islamic pawn.I Ketut Marjana, Managing Director of Pos Indonesia, said the signing of the cooperation with Bank Syariah Mandiri (BSM) was performed on October 2 in Denpasar, Bali.Cooperation was signed by I Ketut Marjana with Yuslam Fauzi as Director of BSM. "The implementation of such cooperation will begin in November," he said during a visit to the Business Editor, today. (source)

INDONESIA - PAWN BROKING - BNI Syariah Rahn Gold Limit Up to 20%

Jakarta (27/10) - Appeal of Bank Indonesia (BI) to limit the gold pledge on Islamic banks that have mortgage products gold are now beginning to receive a positive response from the Islamic banks themselves. One of them came from Bank Negara Indonesia (BNI) Syariah.

Director of Business BNI Syariah, Bambang Widjanarko said it has limited the maximum mortgage gold fortopolio 20 percent of total financing. "We followed the advice of BI, gold has been our pledge to limit the maximum 20 percent of total financing. It has reached the end of September 12.8 percent with a value of Rp 680 billion, "he said on the sidelines of a seminar in the Economic Community of Sharia in the BNI Tower, Jakarta, Wednesday (26/10). (source)

INDONESIA - BANKING - BI: Rahn Gold Limit, Increase Profit Sharing Product

Jakarta (27/10) - Gold now it is showing "sheen". Proven practices rahn gold or gold pawn is mostly done by banks, Islamic banking is no exception. Data Bank Indonesia (BI) showed outstanding gold rahn committed Islamic banks until the end of August 2011 reached Rp 5 trillion. That number grew to Rp 4 trillion in just two months from July 2011 to reach USD 1 trillion.

 BI deputy governor Halim Alamsyah said the practice rahn gold with the principle of margin does have a greater return so as to accelerate the pace of Islamic banks. However, it should be observed, increasing gold rahn will certainly reduce the share of products for the results. And as it is known principle of profit sharing is the spirit of Islamic banking.  (source)

INDONESIA - PAWN BROKING - No Worry Rahn Pawnshop Gold on Islamic Banking

Jakarta (27/10) - Pawnshop not feel concerned by the rampant practice of pawning gold rahn or performed some Islamic banks. Since the "atmosphere" at the Pawnshop different pawn Islamic banks.

"We do not worry there are pawning gold in Islamic banks because it is different. Conducted at the Pawnshop Pawn for productive enterprises, "said Director of Operations Pawnshop, Edy Prayitno in a monthly seminar Shariah Economic Community BNI Tower in Jakarta, Wednesday (26/10).  (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 - End of September, BNI Syariah Kuangan Performance Increases

Jakarta (27/10) - PT Bank Negara Indonesia (BNI) Syariah showed positive performance through September 2011. Compared to September 2010, recorded profit after tax increased 963.90% to the value reached Rp97, 447 billion.BNI Syariah also recorded a rise in the financing of Rp1, 883 billion or 57.86 percent of Rp3, 255 in September 2010 to Rp 5, 138 in September 2011. While the Special Fund recorded an increase of 23.72%. While the total assets of the company on September 30, recorded at Rp7, 358 trillion, up 20.87 percent compared to same period the previous year (year on year) amounting to Rp 6.088 trillion.  (source)

INDONESIA - MICRO FINANCE - Micro Financing the Sharia Lonely Interested Pawnshop

REPUBLIKA.CO.ID, JAKARTA --- The distribution of micro-finance or Ar-Rahn for small micro enterprises (ARRUM) at the Pawnshop Sharia is still far from the target. This is because the interest in micro-financing of mortgages is still minimal.
Pawnshop Islamic microfinance as of September 2011 is still around Rp 80 billion. The number is still far behind this year's target is set at Rp 200 billion. "Our target was too optimistic, but we still try to increase until the end of the year," said General Manager Pawnshop Sharia, Suhardjo, Tuesday (25/10).  (source)

MALAYSIA - PUBLICATIONS - Islamic Pawn Broking Malaysia (KFH Malaysia)

Islamic Finance Research :"Islamic Pawn Broking – Malaysia" – 29 September 2011

2011-09-29 -You must be logged in to view this report. Download This Report

Extract:

One of the rapidly growing microfinancing products that has flourished over the last decade is the Islamic pawn broking business, alternatively known as Ar-Rahn or Rahnu. Ar-Rahn is an activity whereby a valuable item is collateralised to a debt which may be utilised as payment should the debt remain unpaid within the agreed period.

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INDONESIA - BANKING - Islamic banks not affected by drop in gold price

REPUBLIKA.CO.ID, JAKARTA - The drop in world gold prices do not affect the performance of Islamic banking. Financing through pawning gold remains stable even have increased.

A number of banks to implement risk management strategies with a "cushion" to cover the losses if the gold price plummeted. They opened the bidding price of gold below the market price. "For the basic price of gold, we peg three to five percent below the gold buyback Antam (PT Aneka Tambang)," said Director of Bank Syariah Mandiri, Hanawijaya, Tuesday (27 / 9). (source)

INDONESIA - BANKING - Bank Syariah Mega Pawn Gold Limit Maximum 10%

Jakarta (20 / 9) - Himbaun Bank Indonesia in order to limit the expansion of Islamic banking products gold pledge, echoed by the Bank Mega Syariah (BMS). BMS itself have limited its gold mortgage products up to 10 percent of the portfolio pembiaayan. (source)

INDONESIA - PAWN BROKING - Rp 150 Billion to Pawnshop as Working Capital, DKI Bank

BERITAJAKARTA.COM - As an effort to increase bank intermediation function, DKI Bank through Syariah Business Unit (UUS) distributes working capital funding as much as Rp 150 billion to Pawnshop with 12 months of period. The funding is distributed by skim al musyarakah executing. The cooperation signing of funding distribution is applied by Director of DKI Bank, Eko Budiwiyono and Director of Pawnshop, Suwhono in Jakarta, Tuesday (9/20).  (source)

INDONESIA - GOLD - Bank Mandiri Syariah Affirm Make It Pawn Gold SOP

REPUBLIKA.CO.ID, JAKARTA - In order to address concerns that worry the central bank gold pawn business into its core business of banking, Islamic banking makes a number of standard operation procedure (SOP) in conducting business pawning gold.

According to Director of Retail Bank Syariah Mandiri (BSM), Hanawijaya, it had made ​​improvements to the SOP pawning gold. She said SOP pawning gold already outlined the current management began to plunge into this business some time ago. (source)