Category Archives: World Finance

Indonesia’s consumer confidence at record high ahead of presidential election

A gauge of consumer confidence in Indonesia has jumped to new highs as the country gears up for next month’s presidential election.

The ANZ Bank-Roy Morgan confidence index for May has found that a “super-majority” of 91 per cent of consumers expect good economic times over the next five years.

A record high of 85 per cent of Indonesians are positive about their financial situation for the next 12 months.

Read more at: http://www.abc.net.au/news/2014-06-12/indonesia-consumer-confidence-increases-ahead-of-poll/5517328

Willis Launches the UK’s First Shariah Compliant Real Estate Insurance Solution

LONDON, Jun 10, 2014 (GLOBE NEWSWIRE via COMTEX)

In response to growing demand from property investors for insurance cover that is compliant with Islamic law, Willis Group Holdings WSH -0.06% , the global risk adviser, insurance and reinsurance broker, has launched the UK’s first Shariah compliant commercial real estate insurance.

Read more at:  http://www.marketwatch.com/story/willis-launches-the-uks-first-shariah-compliant-real-estate-insurance-solution-2014-06-10?reflink=MW_news_stmp

Dubai Islamic Bank completes 24.9 pct stake buy in Indonesian lender

(Reuters) – Dubai Islamic Bank has completed the acquisition of a 24.9 percent stake in Bank Panin Syariah and will now seek regulatory approval to increase its holding in the Indonesian lender to 40 percent, it said on Monday.

The largest Islamic bank in the United Arab Emirates has bought 2.42 billion shares in the only listed sharia-compliant bank in the southeast Asian nation, it said in a stock market filing. No purchase price was given.

Read more at: http://www.reuters.com/article/2014/06/09/dib-bank-panin-idUSL5N0OQ1ZD20140609

Indonesia mandates banks for up to $1.5 bln sovereign sukuk

May 26 (Reuters) – Indonesia has mandated HSBC , Standard Chartered and CIMB Group Holdings Bhd to arrange a sovereign sukuk issue of up to $1.5 billion, sources aware of the matter told Reuters on Monday.

The head of the Indonesian finance ministry’s debt management office, Robert Pakpahan, confirmed that the government had appointed the three banks as underwriters. He did not specify the size of the planned issue or give other details.

Read more at:  http://www.reuters.com/article/2014/05/26/indonesia-sukuk-idUSL6N0OC1W220140526

Islamic banking profitability set to surge across the world

Dubai: The Islamic banking profit pool across key markets such as Qatar, Indonesia, Saudi Arabia, Malaysia, UAE and Turkey are expected to exceed $25 billion by 2018, according to latest projections by EY.

Specialists at EY’s Global Islamic Banking Center have forecast that the global Islamic banking assets with commercial banks are on course to exceed $3.4 trillion by 2018, fuelled by growing economic activity in these core Islamic finance markets which reported combined profits of $10 billion for the first time at the end of 2013.

Read more at:  http://gulfnews.com/business/banking/islamic-banking-profitability-set-to-surge-across-the-world-1.1338109

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