Yuslam Fauzi

#Indonesia aims to have world largest #haj #fund in 10 years

In Indonesia the newly established Haj Fund Management Agency (BPKH) has pledged to match the performance of its Malaysian counterpart Tabung Haji. The BPKH will manage Rp 99.3 trillion in haj funds, gathered from 3.4 million people who have paid deposits to go on the haj, by investing in sharia-compliant instruments. BPKH chairman Yuslam Fauzi says the agency aims to be the world’s largest haj fund manager within 10 years through diversified investment with an 8 to 10% annual return. President Joko Widodo inaugurated the executive board of the BPKH, which is taking over management of the haj fund from the Ministry of Religious Affairs. Indonesia has sent more than 200,000 people to Mecca on the haj. The waiting list for the haj is 15 to 20 years.

Bank Syariah Mandiri Targeting Rp 1.2 Trillion Profit This Year, CEO Says

Bank Syariah Mandiri is targeting its profit to increase 50 percent this year as it seeks to boost its branches across Indonesia. Yuslam Fauzi, president director of BSM, said that the lender aims to reach profit of Rp 1.2 trillion ($123.7 million) this year from Rp 800 billion last year. He added that the bank's assets also increased to Rp 55 trillion. However, shares of Bank Mandiri fell 0.5 percent to Rp 9,550 on the Indonesia Stock Exchange on Friday.

Strengthening the Islamic banking platform

Offers for strategic partnerships with foreign investors in plantation projects have been put up by Indonesian Islamic banks among which Bank Mandiri. This way, the Islamic banking platform shall be strengthened. Loan syndication for the purpose of financing medium and large scale projects is proposed. This kind of cooperation would result in an increase in the efficiency and better risk management as well as stronger Islamic banking.

More on: http://www.btimes.com.my/Current_News/BTIMES/articles/20120919215900/Art...

BSM to issue IDR200 billion Islamic subdebt

PT Bank Syariah Mandiri's alternative plan to adding capital besides capital injection by the parent company is to issue a subordinated sharia bond worth IDR200 billion at minimum.
Yuslam Fauzi, President Director of PT Bank Syariah Mandiri (BSM), stated that subdebt will be released as PT Bank Mandiri Tbk, the parent company, does not meet all capital requirement along the year.

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