Islamic Financial Institution is Not Ready with Net Income Profit Sharing Concept

Senin, 17 November 2008Jakarta, 17/11. Islamic financial institutions (IFI's) in Indonesia are not ready with the concept of net profit sharing ratio of their shariah products based on the profit sharing principle. At the moment, the profit sharing ratio of IFI's in Indonesia is still using the concept of revenue sharing, or gross profit income, as explained by Hanawijaya, the Director of Bank Syariah Mandiri, at the luncheon of Annual meeting of the Nantional Shariah Board, last Saturday, November 15, at Taman Impian Jaya Ancol Jakarta.The National Shariah Board has been recommended that IFI's should apply the net income profit sharing instead of the gross profit.In respond to the National Shariah Board recommendation, Hana said that if...

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BRI Syariah to become full-fledged Islamic Bank

Kamis, 21 Agustus 2008Jakarta (21/8). Islamic Bank will develop and growth in this country, apparently the Islamic commercial unit of BRI will become a full-fledged Islamic Bank, this year. There will a transformation of the 3 main Pillars which will be the leading edge for the BRI Syariah spin off.Eko BambangThe above statement came from Division Head of BRI Syariah, Eko Bambang Suharno. The three main pillars are: Information and Technology, company’s Policy and Human Capital. The Information and Technology enhancement will stress on the on-line networking system in all branches, including the Islamic windows, which BRI Syariah customers could use BRI conventional system of ATM. "When the spin of process is done, BRI Syariah will work on...

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USD 196 million agreement between IDB and the Tunisian Company for Electricity and Gas.

IDB - News - 18 Nov 2008The Islamic Development Bank Group will sign a USD 196 million (123 million Euro) agreement on Friday, 14 November 2008 with the Tunisian Company for Electricity and Gas (acting on behalf of the government of Tunisia). The project financing is described as the largest financial contribution made by the IDB Group to Tunisia to date, further confirming the remarks made by IDB President Dr. Ahmad Mohamed Ali that in the midst of the current international financial crisis, IDB Group remains unaffected by the crisis and is “financially strong and despite the current market conditions, it will be able to meet its commitment to member countries and conduct its normal operations.”The agreement will deal with the extension of...

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BCA definitely will establish full-fledged Islamic Bank

Kamis, 30 Oktober 2008Jakarta (30/10) Bank Central Asia (BCA) will certainly establish a full-fledged of Islamic bank by the acquisition of 100% ownership of PT Utama Internasional Bank (UIB).The President Director of UIB D.E Sutijoso, has confirmed such acquisition will take placed on his press release in Jakarta yesterday, in 2009, the ownership of PT UIB will be officially transferred to BCA."Both parties has been signed an agreement under sale contracts on October 24 2008" said the President Director of P T UIB.The business opportunity of UIB for BCA is quite promising since the UIB asset...

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