INDONESIA - TAKAFUL - Takaful Malaysia nears deal on Indonesian stake sale

www.btimes.comm.my- Takaful Malaysia recently received an enquiry from a close-knit family-run conglomerate, says its group managing director


Kuala Lumpur: Syarikat Takaful Malaysia Bhd (Takaful Malaysia) is close to selling a stake in its Indonesian unit to a local partner to expand its distribution network in the republic.

Group managing director Datuk Hassan Kamil said the insurer will consider issuing new shares as well. (source)

INDONESIA - FINANCE - Permodalan Nasional Madani Boosts Islamic Finance Portfolio

JAKARTA (IFT) - PT Permodalan Nasional Madani, a state-owned micro, small and mid-scale enterprise (MSME) finance company, plans to boost its Islamic finance portfolio this year. The market is relatively untapped although it has large potentials. (source)

INDONESIA - TAKAFUL - 17 Year Operating Takaful Islamic Insurance

Jakarta (25 / 8). PT Syarikat Takaful Today Indonesia has aged 17 years in operating the Sharia in Indonesia. In the age of the various kinds of insurance business they have to live like life insurance and general insurance.
PT Syarikat Takaful Indonesia (Company) was established on February 24, 1994 at the initiative of team formation Takaful Insurance Indonesia (DELIVER) led by the Association of Indonesian Muslim Intellectuals (ICMI) by Abdi Nations Foundation, Bank Muamalat Indonesia Tbk., PT Asuransi Jiwa Tugu Mandiri, the Department Financial Affairs, as well as some Indonesian Muslim businessmen. Through these two subsidiaries namely PT Asuransi PT Asuransi Takaful Family and General Takaful, the Company has provided insurance protection that applies the principles of sharia in Indonesia's first pure. (source)

INDONESIA - BANKING - PNM Obtains Working Capital Loan of Rp 200 billion from the Bank DKI

Jakarta (23 / 8). PT Bank DKI working capital loans disbursed Rp 200 billion to PT Permodalan Nasional Madani (PNM). This loan tenure of four years. The loan was disbursed in the scheme Wa'ad Wal Mudharabah - Executing Rp 100 billion and in the form of working capital loans (conventional) amounting to Rp 100 billion. The signing of the cooperation is carried out by distributing the cost of Director of Bank DKI, Eko Budiwiyono and Director of PNM, Nataatmadja Parman in Jakarta, yesterday Monday (22 / 8).
Director of Bank DKI, Eko Budiwiyono, explain the loan will be channeled to ULaMM or Micro Capital Services Unit, which services loans / equity financing for Kemudiaan given to the businesses, either individually or in the form of business entity. (source)

INDONESIA - BANKING - DKI Bank Disbursed Rp 200 Billion Loan to PNM

BERITA JAKARTA - PT. DKI Bank disbursed Rp 200 billion of working capital loan to PT. Permodalan Nasional Madani (PNM). This loan is tenured 4 years which distributed in Wa’ad Wal Mudharabah – Executing scheme of Rp 100 billion and in form of working capital loan (conventional) of Rp 100 billion. The signing of this fund distribution was conducted by President Director of DKI Bank Eko Budiwiyono and President Director of PNM Parman Nataatmadja in Jakarta, Monday (8/22). (source)

MICRO FINANCE - HSBC allocates Rp 18.5b for microfinance

JAKARTA: HSBC’S sharia division, Amanah Syariah, will allocate Rp 18.5 billion (US$2.12 million) in sharia-based credits to small- and medium-scale enterprises this year through state financing and investment firm PT Permodalan Nasional Madani (PNM) under a profit-sharing (mudharaba) agreement.

PNM director of finance and operation Lintang Nugroho said after the signing of the one-year agreement in Jakarta on Wednesday that PNM would channel the credits to SMEs through its sharia-based microfinance service branches.(full story)

RATING - PEFINDO - AMANAH SYARIAH Managed by PT PNM INVESTMENT MANAGEMENT)

PEFINDO has affirmed its “_idA-_f” credit quality rating for PNM Amanah Syariah (“the Fund”), a fixed-income mutual fund managed by PT PNM Investment Management (PNMIM). The rating is based on the Fund’s portfolio as of October 29, 2010.

CAPITAL MARKETS - RATING - AMANAH SYARIAH (Managed by PT PNM INVESTMENT MANAGEMENT)

PEFINDO affirmed its “_idA-_f” credit quality rating for PNM Amanah Syariah (“the Fund”), a fixed-income mutual fund managed by PT PNM Investment Management (PNMIM).  The rating is based on the Fund’s portfolio as of September 30, 2010. 

RATING - PEFINDO - AMANAH SYARIAH (Managed by PT PNM INVESTMENT MANAGEMENT) - Aug 2, 2010

PEFINDO affirmed its “_idA-_f” credit quality rating for PNM Amanah Syariah (“the Fund”), a fixed income mutual fund managed by PT. PNM Investment Management (PNIM). 

The rating was assigned based on the Fund’s portfolio as of June 30, 2010. The rating reflects that the Fund’s underlying assets provide adequate protection against losses from credit defaults. Contribution of “A” and below rated assets to total NAV increased to 44.7% from 41.2% as of May 31, 2010.

RATING - PEFINDO - AMANAH SYARIAH (Managed by PT PNM INVESTMENT MANAGEMENT) - Aug 27, 2010

PEFINDO affirmed its “_idA-_f” credit quality rating for PNM Amanah Syariah (“the Fund”), a fixed income mutual fund managed by PT. PNM Investment Management (PNMIM).

RATING - PEFINDO - AMANAH SYARIAH (Managed by PT PNM INVESTMENT MANAGEMENT) - Sept 24, 2010

PEFINDO has affirmed its “_idA-_f” credit quality rating for PNM Amanah Syariah (“the Fund”), a fixed-income mutual fund managed by PT PNM Investment Management (PNMIM). 

CAPITAL MARKETS - SUKUK - Absindo will issue its first Sukuk

Jakarta, (16/8). Based on investor demand, (Absindo) will issue its first sukuk. The chairman of Absindo, Aries Mufti confirmed that ABSINDO will issue sukuk with purpose to strengthen the working capital and networking of BMT which has been connected with Absindo.

“We perceived that sukuk is an effective instrument to raise funds in developing BMT: said Aries.