INDONESIA - BANKING - Muamalat not interested in gold pawn business

www.VIVAnews.com - In the midst of mortgage business that made gold the rapidly growing Islamic bank, Bank Muamalat just not interested in offering mortgage products gold. Director of Bank Muamalat, Arviyan Arifin, assess the gold pawning business more toward the speculative.
"We have no gold pawn. Reason is that hard to make a deal. We do not have that skill, because they want to actually run the Islamic banking principles," he said on the sidelines of the inauguration Arviyan 9 Muamalat new office in Palembang, Thursday, January 12, 2012.
Director of Retail Bank Muamalat, Adrian A Gunadi, adding, the product of gold pawning some speculative elements. This is a consideration, given the pledge of gold operations risks are quite high.  (source)

INDONESIA - BANKING - Muamalat aims 73 thousand new customers

www.VIVAnews.com  - PT Bank Muamalat Indonesia targets to increase the number of clients this year to 270 thousand people, up 35 percent from the previous 197 thousand customers. Efforts were made to improve accessibility by increasing the number of offices and automated teller machine (ATM).
The plan today, the first Islamic bank in Indonesia that will inaugurate the new office as much as 9 in Palembang, South Sumatra. The new offices are located in several counties in South Sumatra is Prabumulih, Muara Enim, Balfour, Lubuk Linggau and Wood Court as well as two new offices in the city of Palembang
"Accessibility is one of the priorities Muamalat in increasing customer loyalty, it encourages the bank to plan continues to open new offices in parts of Indonesia," said Managing Director of Bank Muamalat, Arviyan Arifin, in his written statement in Palembang, Thursday, January 12, 2012 . (source)

INDONESIA - CAPITAL MARKETS - Muamalat to Issue Sukuk Rp1, 25 trillion Bank Muamalat also examines the possibility of listing on the stock exchange.

www.VIVAnews.com -Muamalat to issue sukuk in the month of May 2012 around Rp1, 25 trillion. The first Islamic bank will also be listed its shares on the stock (listing), although it's been a public company status.

Director of Bank Muamalat Arviyan Arifin said the issuance of sukuk just waiting for the permission of the General Meeting of Shareholders (AGM) in April. Issuance of sukuk has also been entered into the Business Plan Bank (RBB) Muamalat 2012 that will be submitted to Bank Indonesia.

"The issuance of sukuk is to raise the growth rate of capital and assets," said Arviyan in Palembang.  (source)

INDONESIA - FINANCE - Bank Muamalat completed Rp60-70 billion fund to become a majority shareholder.

www.VIVAnews.com - PT Bank Muamalat Indonesia plans to increase its ownership in PT Al Ijarah Indonesia Finance (Alif) a majority or 90 percent. Today, Bank Muamaat holds shares of 33.3 percent Alif.

Director of Compliance and Risk Management of Bank, Andi Buchari, said her company has completed the total amount of Rp60 to Rp70 billion to increase the share in Alif.

"But these stages are still waiting for long, because they have to ask permission from the commissioner, and will be discussed in the upcoming May RUPS. Then, ask the permission of the new Capital Market Supervisory Agency and the Board of Finance," said Andi at Hotel Mulia, Senayan, Jakarta, Thursday 26 April 2012.  (source)

INDONESIA - CAPITAL MARKETS - Maximum Issuance of Global Sukuk US$1 Bn

The collected funds will relieve the fiscal needs of 2011 Revised State Budget.

 VIVAnews - The government said the issuance of global sukuk which will be done in the third quarter or second half of the year is intended to raise funds amounting to as much as US$1 billion.

The collected funds will relieve the fiscal needs of 2011 Revised State Budget.  (source)

INDONESIA - MICRO FINANCE - Headlines U.S. Assists Indonesian Female Entrepreneurs - MoU with Bank Muamalat

VIVAnews - The U.S. Embassy Jakarta signed an agreement today with Indonesia’s oldest sharia bank, Bank Muamalat, to provide financing for women micro-entrepreneurs. The U.S. Agency for International Development (USAID) will guarantee $1.15 million in micro-loans to low-income Indonesian women to run their own businesses.

“With these funds, women will be able to start their own business, earn an income, provide for their family, and ultimately have the opportunity to live a better life,” said U.S. Ambassador Scot Marciel in a statement to VIVAnews. (source)

INDONESIA - EVENTS - Ministry Ecomomics encourages use of halal food

Vivanews - Government support to improve the delivery of certification of halal products in the country. It aims to drive economic growth in Indonesia is better in the future.

According to Coordinating Minister for Economy, Hatta Rajasa, halal certified products now has its own market share in the world. Until now, 20 percent of the world's food products are halal. (source)

BANKING - Will Sharia Banks Offer More Security? - Sharia banks have improved more. - BRI Syariah

VIVAnews – Conventional banks in Indonesia have been subjects to fraud. This issue may open chances for sharia banks to attain more customers. Sharia banks must work hand-in-hand to provide services of foreign banks qualities.

“The market share of sharia banks has only reached seven percent of the total national banking,” said Bank BRI President Director, Ventje Raharjo, in Bandung, on Tuesday. (full story)