If Want to Increase Market, BUMN (state-owned enterprises) Sharia Must Be

JAKARTA - The growth of Islamic banking is still in numbers ranging from 3.5 per cent, making a number of analysts believe Islamic state is required. Conversion of conventional state-owned banks into Islamic state is believed to be able to increase market islamic country.

According to economic analysts sharia Muhammad Syafii Antonio, if this is done, the market share of Islamic banking can penetrate up to 20 percent. "There Will be an increase of of at least seven to eight percent," he said.

He said, it was often he put to regulators, including Bank Indonesia (BI). A number of conventional state-owned banks and regional government-owned (public enterprises) has been proposed to be Islamic banking, including Bank Rakyat Indonesia (BRI), BTN (State Savings Bank), and Bank Jabar Banten (BJB).

But unfortunately, this has not justified the government. "Maybe they thought a national bank would have to service the national needs. In fact, it's like kosher food that can be enjoyed not only Muslims but also non-Muslims, "he explained.

In addition, he said if want to get ahead, Islamic banks must also intensify advertising in the media. "The budget should be a big ad," he said.

It also made ??the Malaysian government to promote sharia banking. This method is also used to give people an understanding about what exactly this industry and the importance of conducting economic activities according to the Shari'a.

Reference: republika[co][id]

Share Sale Delayed Muamalat

JAKARTA - Sales of shares of the country's oldest Islamic bank, PT Bank Muamalat Indonesia, was postponed until an undetermined time. According to Director of Muamalat, Arviyan Arifin, have not found an agreement on prices is one reason.

He confessed to the bank with a performance like Muamalat, the bank is indeed quite high. ''So, the possibility of local investors do not have the funds for it,''he told Reuters when met at the sidelines of the Joint High Level Conference on Islamic Finance, on Monday (18 / 7).

In addition, he said the desire of investors, especially in the country to buy Muamalat also collided maximum limit rules Lending (LLL). Where the LLL should be 10 percent of the capital.

''If they have a capital of Rp 50 trillion, LLL it means around Rp 5 trillion. Well the price we were on top of this,''he explained.

Discussion of restrictions on foreign stocks and individuals who are being deliberated Bank Indonesia (BI) is also a reason in itself. He asserted that the sale of shares is a way of shareholders seeking strategic partners to develop Muamalat. ''But, that does not mean they did not commit,''he explained.

reference: republika[co][id]

Develop Cooperation Indonesia-Malaysia Islamic Finance

JAKARTA - Bank Indonesia and Bank Negara Malaysia agree to boost cooperation in the development of Islamic finance. It involves the cooperation of Islamic banking is growing rapidly lately.

"Islamic finance such as Islamic banking is no longer the compliment (complementary) but has an alternative financing, said the Governor of Bank Indonesia Nasution said in Jakarta on Monday (18 / 7)." So there should be synergy of cooperation or collaboration between Islamic banking in Malaysia and Indonesia to improve quality and expand the Islamic market, "he added.

Nasution spoke at the opening of a summit of Islamic Finance between the Bank and Bank Negara Malaysia which was attended by vice president, Governor of Bank Negara Malaysia, Zeti Akhtar Aziz, and Raja Muda Perak, Raja Naznin Shah, who was ambassador to Malaysia's Islamic finance.

Darmin explained in this conference will discuss technical issues such as differences in perspective sharia sharia in Indonesia and Malaysia as well as issues of accounting standards and others.

According to him, the Islamic financial system of Indonesia have much to learn from Malaysia which has grown rapidly. In the Sukuk market, scooped 72 per cent share of Malaysia's sukuk market in the world.

"Islamic finance industry in Malaysia has developed rapidly, while Indonesia is very potential market given that the largest Muslim population. So all the structure of Islamic finance issues will we elaboration of all," he said.

While Zeti explained that the cooperation of Malaysia and Indonesia build the Islamic finance industry is very important considering the contribution of Islamic finance is a deepening of the global economy.

"The Islamic financial system is increasingly important in the global economy. So it's important for us to take this opportunity, not only Malaysia and Indonesia but also other Asian countries," he said.

According to Islamic finance has a strategic opportunity to develop economic growth, so it needs cooperation with each country to develop it.

"Islamic finance will strengthen the welfare and prosperity are desirable," he said.

Reference: REPUBLIKA[CO][ID]

Bank Syariah Expect Tax Incentives

JAKARTA - Actor Islamic banking Homeland expect any tax incentives to customers who place their funds in Islamic banks. According to the Director of Bank Rakyat Indonesia (BRI) Sharia, Ventje Rahardjo, this could be one way of encouraging the growth of Islamic banking in the future.

"We hope that from the demand side," he told Reuters recently. He said for example on deposit products, there is a tax on customers below 20 percent. "So far, just the same as conventional," he explained. He claimed to expect leniency in order to place the acceleration in the growth of Islamic banking assets.

The same thing also recognized Senior Vice President Head of Islamic Banking, Islamic business units (UUS) CIMB Niaga, U Saefudin Noer. He said there are two tax issues that need to be a concern in the development of Islamic banking Homeland tax neutrality and tax incentives (tax write-offs).

He isentif tax rate necessary to encourage Islamic banking more attractive to players who enter the industry and is getting more benefits. "With the funding base for the real sector and the underlying assets, Islamic banking has a unique and driving force for growth in the real sector," he explained.

On the other hand, removal of taxes will give fair treatment of every contract of Islamic banks as banking products and eliminate taxes that did not need. Not only the elimination of double taxation on murabaha transactions, but also ijara and other taxes due to the use of a hybrid contract.

reference: REPUBLIKA[CO]ID