www.theindonesiatoday.com -JAKARTA, Indonesia Today - Central bank, Bank Indonesia
(BI), will not only restrict the ownership in banks with certain good
corporate governance (GCG) standars, but also strictly select the
foreign investors in controlling the local bank, Bisnis.com reported.
Mulya Siregar, executive director for banking research and management
department at Bank Indonesia, told in media briefin Tuesday night (June
12) that the strict selection is based on two considerations; first,
difficult to know foreign investors' performance or track record and
second, difficult to know foreign investors' source of funds. (source)
Showing posts with label siregar. Show all posts
Showing posts with label siregar. Show all posts
Saturday, June 16, 2012
Wednesday, May 16, 2012
INDONESIA - BANKING - ISLAMIC BANKING: Could be a solution slowdown
www.bisnis.com - JAKARTA:
Bank Indonesia confirms industir players need not worry excessively due
to slowdown in auto loans and property after the loan to value rules
apply, because there are alternative solutions such as loans by Islamic
banks.
"Islamic banks could be a solution because they are not subject to the rules of the loan to value," said Executive Director of the Department of Banking Research and Regulation of BI Mulya E. Siregar, today Tuesday, May 15, 2012.
He explained the Islamic banks have not been subject to this rule because finance portfolio in the automotive and property is still small and far away from the threat bubble.
"If the Islamic bank financing in tight gas will not bubble, so that we do not wear these rules. We do not limit the LTV and down payment as long as they remain cautious."
According to him, finance companies and developers do not have to worry about rules propert LTV on conventional bank, because it can cooperate with existing Islamic banks. (source)
"Islamic banks could be a solution because they are not subject to the rules of the loan to value," said Executive Director of the Department of Banking Research and Regulation of BI Mulya E. Siregar, today Tuesday, May 15, 2012.
He explained the Islamic banks have not been subject to this rule because finance portfolio in the automotive and property is still small and far away from the threat bubble.
"If the Islamic bank financing in tight gas will not bubble, so that we do not wear these rules. We do not limit the LTV and down payment as long as they remain cautious."
According to him, finance companies and developers do not have to worry about rules propert LTV on conventional bank, because it can cooperate with existing Islamic banks. (source)
Thursday, May 10, 2012
INDONESIA - BANKING - Sampoerna family moves into banking (Islamic micro finance by July 2012)
www.thejakartapost.com - Open
for business: President director of Bank Sahabat Sampoerna Indra W.
Supriadi (from left), Michael Sampoerna, the owner of Sampoerna
Strategic Group and Bank Indonesia’s director Mulya Siregar during the
launch of Bank Sahabat Sampoerna in Jakarta on Wednesday evening.
JP/Wendra AjisyatamaWidely diversified business group
Sampoerna launched PT Bank Sahabat Sampoerna on Wednesday, aiming for
the largely untapped but lucrative small and micro-businesses.
Although the sector has already seen the presence of various big banks, Bank Sahabat Sampoerna president director Indra W. Supriadi said the market was still large enough for a new player. (source)
Although the sector has already seen the presence of various big banks, Bank Sahabat Sampoerna president director Indra W. Supriadi said the market was still large enough for a new player. (source)
Friday, March 16, 2012
INDONESIA - FINANCE - Computerized Design BI For The Real Sector Index
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia is preparing a model for the real sector index for the reference yields Islamic bank financing. Models are organized by computerized in order to be updated every day.
Director of the Directorate of Islamic Banking Bank Indonesia, Mulya Effendi Siregar, said computerized model of the index for the real sector will use the information from public and nonpublic companies. The results of manual calculations of such information has previously been done. (source)
Director of the Directorate of Islamic Banking Bank Indonesia, Mulya Effendi Siregar, said computerized model of the index for the real sector will use the information from public and nonpublic companies. The results of manual calculations of such information has previously been done. (source)
Saturday, March 03, 2012
INDONESIA - REGULATIONS - New rules of the Sharia Bank Gold Pawn will End the Speculation?
WWW.REPUBLIKA.CO.ID, JAKARTA-Bank Indonesia (BI) issued a lien golden rule through a Circular Letter no 14/7/DpBs with effect from February 29, 2012. Rule is considered to close the access of speculators in gold pawning.
In regulation, the BI limit the extension of fiduciary gold at most twice. In addition, customers must have gold before pawning transactions. "That way, there is no speculation story," said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (2/3). (source)
In regulation, the BI limit the extension of fiduciary gold at most twice. In addition, customers must have gold before pawning transactions. "That way, there is no speculation story," said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (2/3). (source)
Sunday, February 26, 2012
INDONESIA - BANKING - Central bank launches three scenarios of sharia bank growth
www.bisnis.com - JAKARTA: Bank Indonesia predicts three possible growth scenarios of sharia banks next year, referring to global economy and domestic conditions.
Those scenarios are pessimistic, moderate and optimistic, said Bank Indonesia Deputy Governor Halim Alamsyah.
“In the pessimistic growth we predict loans and third party funds increase by 55%, moderate by 63%, and optimistic by 79%,” he said Wednesday on the sidelines of 2012 Sharia Banking Outlook. (source)
Those scenarios are pessimistic, moderate and optimistic, said Bank Indonesia Deputy Governor Halim Alamsyah.
“In the pessimistic growth we predict loans and third party funds increase by 55%, moderate by 63%, and optimistic by 79%,” he said Wednesday on the sidelines of 2012 Sharia Banking Outlook. (source)
INDONESIA - BANKING - Indonesia Shariah Assets Rise Most Since 2003
www.bisnis.com - JAKARTA: The fastest growth in Indonesia's Shariah-compliant banking assets since 2003 is bolstering speculation that the government will meet its target for the industry next year.
Islamic holdings increased 49 percent to 145.5 trillion rupiah ($16.1 billion) in 2011, compared with an average 38 percent expansion over the previous five years, central bank data released on Feb. 15 showed.
That's less than Malaysia, a global Shariah finance hub, where assets total 389.3 billion ringgit ($129 billion), government data show.
Bank Indonesia has said it wants the industry to account for 5 percent of the country's total banking assets by 2013, from less than 4 percent now, and 10 percent by 2015 to 2020. (source)
Islamic holdings increased 49 percent to 145.5 trillion rupiah ($16.1 billion) in 2011, compared with an average 38 percent expansion over the previous five years, central bank data released on Feb. 15 showed.
That's less than Malaysia, a global Shariah finance hub, where assets total 389.3 billion ringgit ($129 billion), government data show.
Bank Indonesia has said it wants the industry to account for 5 percent of the country's total banking assets by 2013, from less than 4 percent now, and 10 percent by 2015 to 2020. (source)
Thursday, February 23, 2012
INDONESIA - BANKING - Eddy Setiadi Director Directorate of Islamic Banking New BI
www.pkesinteraktif - Jakarta (22/2) - Eddy Setiadi became Director of Directorate of Islamic Banking Bank Indonesia (BI) were replacing Mulya Siregar, who moved the post as Director of the Directorate of Banking Research and Regulation. Edy himself previously served as Director of the Directorate of Rural Credit and SMEs.
This position shift is the result of the rotation number of high officials in the BI and is routinely done something related to regeneration.
"This regeneration. Some employees want to retire and other employees are eligible to be president," said Head of Public Relations Bureau BI Difi A Johansyah, Tuesday (21/2). (source)
This position shift is the result of the rotation number of high officials in the BI and is routinely done something related to regeneration.
"This regeneration. Some employees want to retire and other employees are eligible to be president," said Head of Public Relations Bureau BI Difi A Johansyah, Tuesday (21/2). (source)
Wednesday, February 22, 2012
INDONESIA - BANKING - Bank Indonesia Rotates, Promotes Directors
www.thejakartaglobe.com - Indonesia’s central bank on Monday announced major director-level personnel change, with some officials promoted as others entered their retirement stage.
It was the first set of major management changes at Bank Indonesia (BI) since December 2011, when Ronald Waas and Muliaman Hadad were named deputy governors. Bank Indonesia spokesman Difi Johansyah said late on Monday that it was just a routine restructuring.
“It’s for the sake of regeneration,” Difi told reporters late on Monday. Difi said the promotions and rotations would be effective on March 1. (source)
It was the first set of major management changes at Bank Indonesia (BI) since December 2011, when Ronald Waas and Muliaman Hadad were named deputy governors. Bank Indonesia spokesman Difi Johansyah said late on Monday that it was just a routine restructuring.
“It’s for the sake of regeneration,” Difi told reporters late on Monday. Difi said the promotions and rotations would be effective on March 1. (source)
Monday, February 20, 2012
INDONESIA - BANKING - Indonesia Chance to Be World Islamic Banking Centre
WWW.TEMPO.CO, Jakarta - Indonesia's sharia banking predicted to grow rapidly. Policy on sustainable development of Shariah institutions and trade board ruling, a major strength. In addition, the market demand for Shariah products to be key factors behind the development of sharia financial services in Indonesia.
"Indonesia is a stable macroeconomic situation also supporting factors," said Head of the Centre for Islamic Finance, Bahrain Institute of Banking and Finance Mohammad Omar Farooq, in Jakarta on Monday, February 6, 2012. The main difference sharia financial institutions Indonesia lies in centralization giving fatwa. (source)
"Indonesia is a stable macroeconomic situation also supporting factors," said Head of the Centre for Islamic Finance, Bahrain Institute of Banking and Finance Mohammad Omar Farooq, in Jakarta on Monday, February 6, 2012. The main difference sharia financial institutions Indonesia lies in centralization giving fatwa. (source)
Sunday, February 19, 2012
INDONESIA - BANKING - The Customer is prohibited Pledge $ 250 Million More Gold
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) has finally set a ceiling of gold mortgage financing in Islamic banks. Provision will be published in the Circular Letter (SE).
"Ceiling (financing) to Rp 250 million, yes. Value up from Rp 100 million, "said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (17/2). (source)
"Ceiling (financing) to Rp 250 million, yes. Value up from Rp 100 million, "said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (17/2). (source)
INDONESIA - BANKING - Report Not Accept Bank Bank Malaysia Plan Buy Shares of Bank Muamalat
WWW.REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) has not received reports related to the intention of Bank Islam Malaysia to buy a stake in Bank Muamalat. "No, there has been no report about it (purchases of shares of Bank Muamalat)," said Director of the Directorate of Islamic Banking BI, Mulya Effendi Siregar, Friday (17/2).
However, mention of foreign ownership arrangements, Mulya argue there are no rules. That means, foreign ownership in local banks have not been restricted. BI also does not limit the buyer's Islamic banks have to come from Islamic banks. (source)
However, mention of foreign ownership arrangements, Mulya argue there are no rules. That means, foreign ownership in local banks have not been restricted. BI also does not limit the buyer's Islamic banks have to come from Islamic banks. (source)
Saturday, February 11, 2012
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)
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)
Friday, February 10, 2012
INDONESIA - BANKING - REGULATIONS - BI eases Islamic banking to boost SME
WWW.REPUBLIKA.CO.ID, JAKARTA – Bank Indonesia (BI) is ready to ease some provisions to help Islamic banking distributing its financing to Small and Medium Enterprise (SME). The measure is expected to boost the financing in SME sector.
The flexibility is given to Islamic banking providing mudharabah and musyarakah arrangements. The customers, for example, can payback the installment of financing at the end of the period. “For example, in two year contract, the customers pay off by the end of the second year,” the The Director of Directorate of Islamic Banking BI, Mulya Effendi Siregar, said. (source)
The flexibility is given to Islamic banking providing mudharabah and musyarakah arrangements. The customers, for example, can payback the installment of financing at the end of the period. “For example, in two year contract, the customers pay off by the end of the second year,” the The Director of Directorate of Islamic Banking BI, Mulya Effendi Siregar, said. (source)
Tuesday, January 31, 2012
INDONESIA - BANKING - Good News... Total Asset of Islamic Banking hikes!
WWW.REPUBLIKA.CO.ID, JAKARTA - Another good news comes from Indonesian Islamic finance sector, according to a report by central bank or Bank Indonesia (BI). Total asset of Islamic banking in Indonesia enjoys an increase up to 49 percent in the end 2011, compared to the same periode of 2010 or year over year (yoy). (source)
Tuesday, January 24, 2012
INDONESIA - BANKING - Assets Islamic banking up 49 %
www.tempo.co - TEMPO.CO, Jakarta-booming Islamic banking assets throughout 2011. Total assets of Islamic banks grew 49 percent from Rp 79.6 trillion in 2010 to Rp 149 trillion. "This figure includes 154 assets Sharia Rural Banks," said Director of Bank Indonesia Sharia Banking, Mulya E. Siregar, Monday, January 23, 2012.
With these achievements, the national Islamic bank managed to achieve 4 percent market share of banking assets, up 0.72 percent from 2010. Islamic bank financing nationwide had reached Rp 105 trillion, or grew 50.6 percent over the same period of 2010. Third party funds that can be collected by Islamic banks in 2011 also rose 51.78 percent to Rp 118 trillion. (source)
With these achievements, the national Islamic bank managed to achieve 4 percent market share of banking assets, up 0.72 percent from 2010. Islamic bank financing nationwide had reached Rp 105 trillion, or grew 50.6 percent over the same period of 2010. Third party funds that can be collected by Islamic banks in 2011 also rose 51.78 percent to Rp 118 trillion. (source)
INDONESIA - BANKING - Islamic Banking Financing Up
www.tempo.co - TEMPO.CO, Jakarta-Sharia Banking Director of Bank Indonesia (BI), Mulya E. Siregar, said Islamic banking financing increased in the fourth quarter in 2011 amounting to Rp 102.11 trillion, compared to same period 2010, Rp 70.24 trillion. "Improvements 45.37 percent," said Mulya in talk show Monetary (BBM) in the Press Room BI, Thursday, January 5, 2012.
Increased funding is also accompanied by a decrease in credit crunch (nonperforming finance gross) from 3.12 percent to 2.85 percent. According to Mulya, this shows the quality of financing an increasingly awake. (source)
Increased funding is also accompanied by a decrease in credit crunch (nonperforming finance gross) from 3.12 percent to 2.85 percent. According to Mulya, this shows the quality of financing an increasingly awake. (source)
Friday, January 13, 2012
INDONESIA - GOLD - Indonesia sharia banks to clamp down on gold speculators
bullionstreet.com - JAKARTA(BullionStreet) : Indonesia, where the world's largest muslim population lives said it will soon introduce a regulation preventing Islamic banks from funding gold specualtors.
According to country's central bank, Bank of Indonesia's sharia banking director Mulya Siregar, a regulation to limit the pawning of gold at sharia banks will be required as most of bank customers tend to use the service for speculation. (source)
Thursday, January 12, 2012
INDONESIA - REGULATONS - Starting BI Monitor Calculation and Return on Investment Risk
REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) began to oversee the calculation of two additional risk management in Islamic banks, namely the risk of investment (equity of investment risk) and risk of the yield (rate of return risk). Although not yet taken into account in risk assessment (risk profile), Islamic banks are required to calculate how much capital to the management of these risks. (source)
Saturday, January 07, 2012
INDONESIA - BANKING - BI grants permission for 2 new banks
REPUBLIKA.CO.ID, JAKARTA - Islamic Finance in early 2012 more enlivened by the presence of two new Islamic banks. Bank Indonesia (BI) issued a permit a business unit of sharia (UUS) and the People's Bank Financing the Sharia (SRB) in December 2011.
Regional Development Banks Jambi opened UUS UUS increase the number to 23 units. While the number to 155 by the presence of SRB SRB Light Living in Yogyakarta. (source)
Regional Development Banks Jambi opened UUS UUS increase the number to 23 units. While the number to 155 by the presence of SRB SRB Light Living in Yogyakarta. (source)
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