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Updates on Indonesian Islamic Finance

by in Islamic Finance
I have published a number of reports/articles/interviews featuring on the growth and development of the Islamic Finance in Indonesia, you can access those reports/articles by clicking to the links after the following intro to the reports/articles:

- Indonesia’s global Sukuk connecting with the Middle East
Mar 01, 2017 | Publications

By the end of 2016, Indonesia has become the largest issuer of global sovereign Sukuk with eight issuances amounting to US$10.15 billion alongside other major issuers like the UAE (Dubai) (US$7.07 billion), Malaysia (US$6.85 billion), Turkey (US$4.87 billion) and Qatar (US$4.7 billion).

By Farouk Abdullah Alwyni

- Update on the growth of Shariah compliant equities in Indonesia
Jan 25, 2017 | Publications

The growth of market capitalization of Shariah compliant stocks up until November 2016 was very favorable. The market capitalization of two Islamic indices in the country, the Jakarta Islamic Index (JII) and the Indonesian Shariah Equity Index (ISSI in its Indonesian abbreviation), both grew twice as fast
as the market capitalization of all stocks traded on the Indonesian Stock Exchange (IDX) whose index is known in its Indonesian abbreviation as IHSG.

By Farouk Abdullah Alwyni

- A 2016 update on the Indonesian government’s Sukuk
Jan 04, 2017 | Publications

Since the enactment of the Law No.19/2008 relating to government Sukuk, the government of Indonesia through the Ministry of Finance (MoF) has been active in issuing Sukuk. Currently, there are seven types of the government Sukuk with tenors ranging from six months to over 10 years. There are tradable and non-tradable Sukuk through private placement. There are also retail Sukuk and global Sukuk, both issued since 2009, and have been regularly issued since then.

- Mixed feelings over OJK’s move to necessitate separate Shariah units in investment management firms
Dec 23, 2016 | Publications

As part of its aggressive drive to grow the Islamic mutual fund industry, Indonesia’s Financial Services Authority (OJK) is making it mandatory for investment managers to carve out a dedicated Shariah unit, a rule which could be implemented as early as 2017. VINEETA TAN however finds out that market observers may not be as enthusiastic about OJK’s latest move.

“This would be a difficult task because unlike their banking counterparts, investment management firms do not have the economies of scale to commit resources for a separate unit,” Farouk Alwyni, the president director and CEO of consulting firm Alwyni International Capital, tells IFN.

- Indonesia: Growing dominance of government Sukuk
Dec 21, 2016 | Publications

Similar to the year of 2015, the growth of the Islamic banking industry in Indonesia is still continuing on a decelerating trend. In 2014, the Islamic banking industry grew 12.4%. The growth then dipped in 2015 to 8.8%.

Contrary to the growth of the Islamic banking industry, the year 2016 saw the acceleration in the growth of government Sukuk issuance. Sovereign Sukuk issuance up to August 2016 (from December 2015) reached 45.05%. It maintained a fast growth momentum and is most likely to surpass the full year growth of 2015 which was at 54.23%. Government Sukuk issuance has now become the most dominant player in the Indonesian Islamic finance industry.

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