INDONESIA - BANKING - SULSELBAR ISLAMIC BANK: profit pedal boot, launch pawn gold

www.bisnis.com - MAKASSAR: PT Bank Syariah Sulselbar Rahn product launch or Pawn Gold Blessing iB, to support improved profitability this year.Senior Analyst Group Sharia Bank Sulselbar Ikbal Kamal said the company is optimistic that the new product will contribute to the company's revenue."We can not disclose the amount because it is still early stage, and [launch] into the second half of 2012," he told Business Today, Tuesday, May 15, 2012. (source)

INDONESIA - REGULATIONS - Bank Indonesia Circular Letter dated February 29, 2012 No.14/7/DPbS about Gold Backed Qardh Products for Islamic Banking and Sharia.

www.bi.go.id - SE publishing is intended to provide a reference for Islamic banking in the run products Qardh Backed Gold, which is the implementation of Bank Indonesia Regulation No.10/17/PBI/2008 about Islamic Banking Products and Sharia.
This provision applies to Commercial Bank of Sharia, Sharia (UUS), and Sharia Rural Bank (SRB).
Gold Backed Qardh product characteristics (features) as follows: (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 - 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 - 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 PAWNING - BI Business tightens Pawn Gold, Why?

Jakarta, (9 / 9). Islamic banks have products pawning gold will feel misgivings related to the policy of Bank Indonesia (BI) warns of Islamic banks in risk-related gold mortgage businesses. In these cautions, before Bank Indonesia (BI) has a notice in writing.

In the notification letter, mentioned the future financing of gold in great value could use a contract murabaha (sale) and not only through a rahn (mortgage). (source)