Tagged: Indonesia

2013-08-02

UAE- Dream come true courtesy of Noor Islamic Bank

<p>In September last year, Noor issued an invitation to the world to help shape the future of banking, with the launch of its Bank of the Future initiative, aimed at creating innovative ways of banking. As part of the initiative, Noor created an online Shape Your Bank competition to solicit people’s expectations of banks in the future, with prize money of $20,000 for the best idea on enhancing the banking experience. Nurul Iksan from Malang, Indonesia, won the first prize in Noor’s online competition. With the $20,000 in cash, plus an iPad he can begin pursuing some of his business ideas. He will use part of the money to open a fashion shop in nearby Bali. Iksan’s suggestion was to introduce a family account that is held by the head of the family with supplementary cards and limited budgets assigned to all family members. Such a concept has not been implemented in the region yet.</p>
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<p><a href="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/July/uaebusiness_July349.xml&section=uaebusiness" title="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/July/uaebusiness_July349.xml&section=uaebusiness">http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/…</a></p>
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Takaful Malaysia still on the hunt for strategic partner in Indonesia

ASIA / Islamic Finance

2013-07-23

Takaful Malaysia still on the hunt for strategic partner in Indonesia

Syarikat Takaful Malaysia remains in the hunt for a strategic partner in Indonesia to help expand its distribution network there. The takaful operator was in talks to sell a stake or issue new shares in its Indonesian unit to a local partner last year,…

Indonesian Islamic Bank Muamalat implements Oracle core banking tech

ASIA / Islamic Finance

2013-07-22

Indonesian Islamic Bank Muamalat implements Oracle core banking tech

Indonesian Bank Muamalat has implemented Oracle FLEXCUBE Universal Banking to streamline its core business processes and to enhance productivity. Oracle FLEXCUBE is now live across all of Bank Muamalat's branches and e-channel network (ATM, EDC, etc) i…

Indonesia’s BMT Microfinance system should be introduced Globally: Zubair Mughal

ASIA / Islamic Finance

2013-07-12

Indonesia’s BMT Microfinance system should be introduced Globally: Zubair Mughal

<p>Baittul Maal wa Tamwil (BMT) Microfinance system which is being working in Indonesia should be introduced all-around the globe as the best system to eliminate poverty, Chief Executive Officer of Al-Huda Center of Islamic Banking and Economics Mr. Muhammad Zubair Mughal said. He was speaking at the International conference for “ Empowering SMEs for Financial Inclusion and Growth” held in Indonesia. During his address Mr. Zubair Mughal said, BMT has played an important role for the alleviation of poverty in Indonesia but unfortunately, these methods are being limited to Indonesia only. He stated that new Islamic Microfinance methods of BMT should be available along with Murabaha, Salam, Mudarabah, Qarz-e-Hasna and Waqf to Islamic Microfinance Institutes globally. He further added that Islamic Microfinance is very important along with branchless banking, product innovation and financial literacy in order to achieve financial inclusion for the Muslim population. The Global Islamic Microfinance Forum is going to be held on October 16, 2013 in Dubai, to compile the strategy to strengthen the Islamic Microfinance industry, he ended.</p>
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<div>Source: </div>
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<p><a href="http://www.alhudacibe.com/pressrelease19.php" title="http://www.alhudacibe.com/pressrelease19.php">http://www.alhudacibe.com/pressrelease19.php</a></p>
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Standard Chartered to launch Islamic banking in Kenya, Indonesia

ASIA / Islamic Finance

2013-07-04

Standard Chartered to launch Islamic banking in Kenya, Indonesia

<p>Standard Chartered Plc will start offering Islamic banking in Kenya as a springboard into the rest of Africa, Wasim Saifi, its global head of Islamic consumer banking said. Moreover, it may expand services in Indonesia. He said the bank would offer the services through its Islamic banking brand, Standard Chartered Saadiq, targeting the country’s official Muslim population of 4 million people, as well as non-Muslims. The new products will first be launched in Kenya, then in other countries in east Africa and west Africa, as well as further afield. Especially Indonesia is interesting to the bank because Islamic finance is set to triple or quadruple in the next five-ten years in the country. Standard Chartered currently offers Islamic banking in Indonesia through associate Bank Permata</p>
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<p><a href="http://www.euronews.com/business-newswires/2016068-standard-chartered-to-launch-islamic-banking-in-kenya-indonesia/" title="http://www.euronews.com/business-newswires/2016068-standard-chartered-to-launch-islamic-banking-in-kenya-indonesia/">http://www.euronews.com/business-newswires/2016068-standard-chartered-to…</a></p>
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Smart Policy: Why Islamic Banks Matter in Indonesia

ASIA / Islamic Finance

2013-07-03

Smart Policy: Why Islamic Banks Matter in Indonesia

Since the Government of Indonesia issued the Sharia Banking Law in July 2008, the Islamic banking industry has shown a strong growth. According to data from Bank Indonesia, between 2008 and 2012, Islamic bank assets tripled, increasing by an average of…

Support for Indonesian entrepreneurs serving disadvantaged groups

ASIA / Islamic Finance

2013-06-28

Support for Indonesian entrepreneurs serving disadvantaged groups

<p>LGT Venture Philanthropy is proud to launch its second call for applications for the Smiling World Accelerator Program(SWAP) 2013 in Indonesia. </p>
<p>—<br>
LGT Venture Philanthropy, dengan dukungan GEPI mengumumkan pembukaan pendaftaran kedua untuk Smiling World Accelerator Program (SWAP) 2013. </p>
<p>SWAP merupakan program khusus selama 9-24 bulan bagi para pengusaha di bidang kesehatan, pendidikan, energi yang berkelanjutan dan diperbaharui, pertanian, serta Teknologi Informasi dan Komunikasi, yang melayani atau bermanfaat bagi orang yang kurang mampu dan yang sedang berjuang kearah level pertumbuhan dan dampak positif yang lebih tinggi.</p>
<p>SWAP menyediakan bantuan dana sesuai kebutuhan (sampai dengan USD 50,000 per organisasi), mentor bisnis di lapangan dan juga akses ke berbagai jaringan internasional.</p>
<p>LGT Venture Philanthropy telah memilih dan membantu 6 organisasi yang masih dalam tahap permulaan dengan rata-rata investasi masing-masing sebesar USD 35’000, dan memberikan dukungan berupa bimbingan teknis melalui satu konsultan bisnis tetapnya di lapangan.</p>
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<p><a href="http://www.lgtvp.com/swapindonesia.aspx" title="http://www.lgtvp.com/swapindonesia.aspx">http://www.lgtvp.com/swapindonesia.aspx</a></p>
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ASIA / Islamic Finance

2013-06-21

Allianz Eyes Indonesian Takaful

<p>Asuransi Allianz Life Indonesia plans to double its takaful, market share in five years as it joins insurer Sun Life Financial Indonesia in forming partnerships with banks to tap rising Muslim wealth. Asuransi Allianz made an agreement with HSBC Holdings this year to offer its services. Sun Life will seek to boost business in rural areas via telemarketing campaigns and bank alliances. The takaful market share may climb to 7.9 percent in five years, from 3.9 percent currently. Islamic insurance assets in Indonesia, which has the world’s biggest Muslim population at 216 million, increased an average 53 percent in the last five years to Rp 11.4 trillion ($1.1 billion).</p>
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<div>Source: </div>
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<p><a href="http://www.thejakartaglobe.com/business/allianz-eyes-indonesian-takaful/" title="http://www.thejakartaglobe.com/business/allianz-eyes-indonesian-takaful/">http://www.thejakartaglobe.com/business/allianz-eyes-indonesian-takaful/</a></p>
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ASIA / Islamic Finance

2013-06-21

Bank Muamalat Postpones Up to $177m IPO

<p>Bank Muamalat Indonesia delayed an up to $177 million initial public offering because of recent stock market declines. The sharia lender hasn’t decided on a new timetable for the IPO. Muamalat had already lowered the indicative price range on the deal to Rp 575-675 from the original Rp 625-975, to try and drum up demand. CIMB and Bahana Securities were hired to underwrite the IPO.</p>
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<div>Source: </div>
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<p><a href="http://www.thejakartaglobe.com/business/bank-muamalat-postpones-up-to-177m-ipo/" title="http://www.thejakartaglobe.com/business/bank-muamalat-postpones-up-to-177m-ipo/">http://www.thejakartaglobe.com/business/bank-muamalat-postpones-up-to-17…</a></p>
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Need to Strengthen Islamic Social Finance Sector

ASIA / Islamic Finance

2013-06-11

Need to Strengthen Islamic Social Finance Sector

<p>Issues raised and discussed at length during “International Workshop on Zakat, Waqf and Islamic Microfinance” and the idea of “Strengthening Islamic Social Finance Sector” were presented by Arshad Ajmal, Vice President of Sahulat Microfinance Society, at a programme organised by Forum for Discussion on Economic Issues. The event is a joint forum of Sahulat and Radiance Viewsweekly which was held in the national capital on 26 May. Mr. Ajmal, who was the only person invited from India as a resource person on Islamic Microfinance, shared his experience which he gathered and the points he raised during the workshop. Another notable point discussed was whether an Islamic Microfinance institution should and can be treated as a banking institution. Moreover, it was pointed out that Islamic finance places itself heavily on debt instruments and less on equity instruments.</p>
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<div>Source: </div>
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<p><a href="http://www.radianceweekly.com/362/10757/maharashtra-ats-cbi-x-rayed-will-nia-retain-confidence-of-people-with-its-unbiased-terror-probe/2013-06-09/report/story-detail/need-to-strengthen–islamic-social-finance-sector.html" title="http://www.radianceweekly.com/362/10757/maharashtra-ats-cbi-x-rayed-will-nia-retain-confidence-of-people-with-its-unbiased-terror-probe/2013-06-09/report/story-detail/need-to-strengthen–islamic-social-finance-sector.html">http://www.radianceweekly.com/362/10757/maharashtra-ats-cbi-x-rayed-will…</a></p>
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Tagged: Indonesia

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Support for Indonesian entrepreneurs serving disadvantaged groups

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