QASA Market Updates • Updates • Shariah Finance
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Food and beverage sales in Indonesia are projected to reach Rp 167 trillion to Rp 168.6 trillion in the second quarter of 2012 >> more |
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The Association of Sharia Insurance of Indonesia plans to standardize the sharia insurance sector by releasing sharia insurance policy standards Bapepam-LK estimates a 30 percent growth in revenue from premiums within the Sharia Insurance Industry to Rp 6.46 trillion this year Malaysia’s biggest Islamic insurers plan to expand in Indonesia Bank CIMB Niaga has injected Rp 100 billion into its Islamic banking subsidiary to increase its lending Bank Indonesia predicts that sharia banking industry may grow 40% in 2012 Indonesia’s sharia finance industries ranked fourth globally Penetration of Sharia-based insurance industry has reached 3.18% in the first quarter of the year The market capitalization of Sharia stock in the first half of 2011 soared by 37.58% to IDR1,305 trillion The Indonesian and Malaysian central banks agreed to improve cooperation to boost the development of Islamic finance in the two nations Investors’ interest in Islamic mutual funds, particularly with Islamic bonds as underlying assets continues to grow this year Indonesia Stock Exchange plans to cooperate with London Stock Exchange to develop a sharia capital market, either in England or Indonesia Profits from Islamic banking rose 21.95% in the first-quarter of 2011. Net income from Sharia banks and Sharia banking business units rose to IDR400 billion from January-March Sharia Index established to complement JII Indonesian index of sharia stocks (ISSI), which will be launched on May 12 The total managed fund of sharia mutual funds throughout the first quarter in 2011 reached IDR 5.19 trillion. Albaraka Banking Group and Qatar Islamic Bank aim to acquire Shariah-compliant lenders in Indonesia. Conventional insurance companies will be the largest Sharia bond (sukuk) investors as they control IDR 1.77 trillion or 29% of the total investment in sukuk. The activities of sharia insurance industry in the country is imprudent, following the claim payment during 2010 which reached to 60% compared to 2009. Indonesia’s largest Shariah-compliant banks plan to increase lending to rural areas, where total agricultural loans have doubled over the past five years. Some new sharia banks will operate in Indonesia |
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