IslamicFinance.de

The Indonesian Ministry of Finance had the target to sell 45.5 trillion, but sold only IDR 15.76 trillion of debt in Q3 auctions in the third quarter.
Raising IDR 810 billion ($95.7 million) in a Sukuk auction on 2 August, it misses its IDR 1 trillion target.

PT Bank Muamalat Indonesia has pointed to a launch of a $50m Sukuk towards the end of the year.
The bank will also raise funds by selling IDR800bn ($93.8m) of subordinated debt next year to raise its capital.

An official statement brings up the fact that the Indonesian government plans to sell IDR1 trillion of Islamic treasury bills on Aug. 2.
Rahmat Siamat, a Shariah director at the finance ministry, the purpose is to diversify the government's funding sources.

Central bankers from Malaysia, Indonesia have met in Jakarta on 18 July 2011 and discussed the need to improve cooperation in order to boost the development of Islamic finance in the two countries.
Governor Tan Sri Dr Zeti Akhtar Aziz of Bank Negara Malaysia and Governor Darmin Nasution of Bank Indonesia agreed on the need for joint initiatives to create an ‘enabling environment’.

Maybank Islamic (MI) has signed a Memorandum of Understanding (MoU) with Bank Syariah Mandiri (BSM), Indonesia, to set up cross border collaboration in all Islamic treasury and trade finance matters.
This collaboration is going to set the terms of cooperation between the two institutions in relation to enhancing cross-border liquidity flows and, as well as, increasing and diversifying the application of Islamic financial solutions.

DinarStandard™ publicized a listing of 50 Leading Business Schools of the OIC member countries. The listing reveales how OIC based Business Schools are giving leading regional employers access to top talent from within their own neighborhoods with unique expertise in Islamic finance, social entrepreneurship and innovation management.
Some of the insights presented in the listing are:
- Accreditation: Eight B-Schools from the list are AACSB accredited (The Association to Advance Collegiate Schools of Business.) AACSB is generally regarded as the standard for MBA programs (all US top 20 MBA programs have AACSB accreditation.)
- Geographic breakdown: B-Schools from 16 countries are represented on the list. Malaysia has the highest representation with 8 B-Schools on the list. This is followed by 6 each from Turkey, Saudi Arabia, and Indonesia.
- Most of the programs are English language based and 47 of the 50 on the list offer full-time MBA program.

The Islamic Corporation for the Development of the Private Sector (ICD) is currently engaged in challenging issues related to the financing of small and medium enterprises (SMEs), and projects providing food security and housing among member countries.
There already are some members that have potential for providing food security so that those who do not have such potential could benefit, and that include countries like Kazakhstan, Sudan and Indonesia.

The ASEAN Equity fund will target medium- to long-term capital growth by investing in a portfolio of equities in the ASEAN markets with specific focus on the markets of Indonesia, Malaysia, Singapore, Philippines and Thailand.
The fund has an offer period to June 26, 2011.

As reported by Nomura, Indonesia has tremendous investment potential. It is well known by analysts that Indonesia has made a big progress, regaining also its appeal to investors. Teh report reaveals the fact that the country delivers regular annual GDP growth rates of 7%.
Until now, Indonesia has built up record foreign exchange reserves and has attracted higher levels of foreign direct investment.

Maybank Islamic, Asia-Pacific's largest syariah lender, is going to expand its business in the Asean region and may offer Islamic stockbroking services through Singapore stockbroker Kim Eng, which its parent recently acquired.
The bank's parent Maybank is embarking on an expansion drive to become a regional bank. It operates in 14 countries including Cambodia, Indonesia, Pakistan and Bahrain.

In order to increase the Shariah-compliant banking assets by 35 percent this year, Indonesia's Foreign Ministry and central bank are seeking investment from the Persian Gulf.
Mulya Siregar, the Jakarta-based director of Islamic services at Bank Indonesia, announced that it is possible that the delegation is going to meet officials in the Middle East as soon as this month, with Saudi Arabia and Kuwait the most likely destinations.

It appears that top shareholders of Indonesia's PT Bank Muamalat is trying to sell at least a 51 percent stake in the unlisted Islamic lender, in a deal that may be valued at about $300 million. Bank Muamalat confirmed the sale process. Bloomberg states that the deal may value the bank at $600 million.
Although Chinese Banking Corp had also looked at the bank in the first round, it seems that they are no longer interested.

The Islamic Cooperation for the Development of the Private Sector (ICD) has signed a Strategic Partnership Agreement (SPA) with Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank), to explore together investment opportunities in Indonesia and other IDB member countries. This SPA was signed by Khalid Al-Aboodi, CEO of ICD, and I Made Gde Erata, CEO of Indonesia Eximbank .
This will also allow for the private sector in Indonesia to expand into emerging markets, especially to other OIC countries.

While waiting for parliamentary authorisation to utilize a set of state-controlled underlying assets to guarantee the issue, Indonesia's finance ministry delayed the sell of sukuk that was programmed on the 10th May.
The Ministry has not revealed the size of the offering.

LeapFrog Investments seems to be searching for opportunities in Indonesia's Takaful sector.
Several organizations like International Finance Corporation, Soros Fund Management, Flagstone Reinsurance, KfW of Germany and FMO of Netherlands organized the private equity fund back in 2009.

PT Bank Ina Perdana, acquired by Affin Holdings Bhd, will be changed into an Islamic bank probably in two years time.
Kamarul Ariffin, chief executive officer (CEO), pointed out that this proccess will be done slowly.

The conversion of PT Bank Ina Perdana of Indonesia into a syariah-compliance bank is expected by Affin Holdings Bhd to be completed in two years.

The Central bank of Indonesia estimates that the nation’s Islamic assets will improve by 55% this year.
That's why Albaraka Banking Group and Qatar Islamic Bank have a goal: to produce Shariah-compliant financers in Indonesia.
Chief executive Adnan Ahmed Yousif pointed out that Albaraka is ready to spend $100 million on an acquisition.
Indonesia has 11 full-fledged Islamic lenders and 23 other banks that offer Islamic services. The government want to begin selling short-term Islamic treasury bills for the first time in the second half of the year.

HSBC Amanah Shariah wants to allocate USD 2.12 million through PT Permodalan Nasional Madani (PNM) for the development of micro-, small and medium-sized enterprises (MSMEs).
The funds from HSBC to MSMEs will be chanelled through its Shariah-based microfinance branches.

A plan has been developed by Indonesian finance ministry to sell sukuk in auctions on April 12. The aim is to raise one trillion rupiah in order to defray the deficit from this year.