Erick Thohir reveals Indonesia wants a global caliber sharia bank

BigBussiness – Minister of State (BUMN) Erick Thohir said Indonesia wanted a global-caliber national Islamic bank.

The plan is for this process to be achieved by merging three state-owned Islamic banks, namely PT Bank BRIsyariah Tbk, PT Bank BNI Syariah and PT Bank Syariah Mandiri.

“The signing of the Conditional Merger Agreement (CMA) is the beginning of a historic process for the birth of a global Islamic commercial bank of a global caliber. I am optimistic that the Syariah Bank will be a new source of energy for the Indonesian economy as a result of the merger. “The performance of Islamic banks in the second quarter was very high. This merger will make the position of the National Islamic Bank larger and more solid, so that more Indonesians can benefit from the presence of this national Islamic bank,” said Erick Thohir in a statement in Jakarta, Tuesday (13/10/2020).

The signing of the CMA for integration and value improvement of BUMN Sharia banks involves PT Bank BRIsyariah Tbk, PT Bank BNI Syariah and PT Bank Syariah Mandiri.

Also read:
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The signing of the CMA took place in Jakarta on Monday (12/10) night by the President of Bank BRIsyariah Ngatari, the President of Bank BNI Syariah Abdullah Firman Wibowo, and the President of Bank Syariah Mandiri Toni EB Subari.

Also signing the agreement, President Director of Bank BRI Sunarso, Director of Bank BNI Institutional Relations Sis Apik Wijayanto, and Acting President Director of Bank Mandiri Hery Gunardi.

After that, the merger process was continued with information to the Indonesian Stock Exchange (IDX) and the Financial Services Authority (OJK) on Tuesday (13/10).

Erick added that the government has carefully planned the establishment of the first largest Islamic commercial bank in Indonesia. With a Muslim majority population, Erick considered that the potential of Islamic banking is still very large, while providing opportunities for the public or business community to be more comfortable using the Islamic banking system.

“Indonesia’s desire to have the largest national Islamic commercial bank by 2021 is part of the government’s efforts and commitment to develop and turn the Islamic financial economy into a new pillar of national economic strength,” Erick said.

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According to him, in the long run, this strategy will also encourage Indonesia to become one of the world’s Islamic financial centers.

The government absorbs Sukuk auction of IDR 11.9 trillion

TEMPO.CO, Jakarta – The government absorbed Rp 11.9 trillion in auction from the auction of five series of State Sharia Securities (SBSN) or state sukuk with a total incoming bid of Rp 25.85 trillion.

A press release from the Directorate-General for Finance and Risk Management from the Ministry of Finance received in Jakarta, on Tuesday 13 October 2020, stated that the sukuk auction results met the indicative target of 10 trillion IDR.

The amount won for the SPNS14042021 series was IDR 2.2 trillion with a weighted average dividend of 3.1321 percent.

The incoming bids for the SBSN series due 14 April 2021 reached Rp. 4.9 trillion with the lowest return of 3.09 percent and the highest 4.5 percent.

The amount won for the PBS027 series was IDR 1.6 trillion with a weighted average dividend of 4.56409 percent.

The incoming bids for the SBSN series maturing on 15 May 2023 reached RP 2.7 trillion with the lowest dividend 4.53 percent and the highest 5.25 percent.

For the PBS026 series, the amount won IDR reached 2 trillion with a weighted average dividend of 5.34241 percent.

The incoming bids for the SBSN series that expire on 15 October 2024 reached Rp. 2.9 trillion, with the lowest return 5.28 percent and the highest 5.75 percent.

For the PBS025 series, the amount won IDR reached 3.75 trillion with a weighted average dividend of 7.09375 percent.

The incoming bids for the SBSN series that expire on 15 May 2033 reached Rp. 8.12 trillion, with the lowest return 7.09 per cent and the highest 8.125 per cent.

For the PBS028 series, the amount won IDR reached 2.35 trillion with a weighted average dividend of 7.47673 percent.

The incoming bids for the SBSN series due 15 October 2046 reached Rp. 7.15 trillion with the lowest return 7.43 percent and the highest 7.68 percent.

Earlier, on September 29, 2020, the government absorbed 6.4 trillion IDR from the auction of six state suuku series with a total incoming bid of 19.85 trillion IDR.

Through an additional sukuk auction, Wednesday (30/9), the government also absorbed IDR 5.6 trillion from the auction of four series of state sukuk with a total incoming bid of IDR 6.27 trillion.

Meanwhile, through a private placement in Bank Indonesia, the government on Thursday (8/10) absorbed IDR 46.2 trillion in funds from the issuance of four series of government securities (SUN).

AMONG

These are the requirements for the name of the merger result of the Sharia Bank merger

TEMPO.CO, Jakarta – The government has not yet decided on the official name of the merger result for the BUMN sharia bank, which only started on Monday 12 October 2020 through the signing of the conditional merger agreement or CMA.

The head of the project management office and deputy director of PT Bank Mandiri (Persero) Tbk, Hery Gunardi, said that the government as a shareholder is still thinking about the name of the bank which is predicted to become the largest Islamic bank in the country.

“Of course, because these three banks will be one, we may also want this bank to be able to become international, become global and have strong legs at home,” Hery said on Tuesday, October 13, 2020. According to him, shareholders are likely to think about a name that may have a value proposition that exists in the international world and that is also common in Islamic banking.

“But not yet. Now you’re thinking of a name,” Hery said.

Three banks in the State Bank Association (Himbara), namely PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, and PT Bank Negara Indonesia (Persero) Tbk signed a conditional merger agreement (CMA) regarding the merger of Himbara’s Islamic banks . The three Islamic banks are BRI Syariah, Mandiri Syariah and BNI Syariah.

Through the Ministry of BUMN, the government has merged the three Islamic banks in Himbara so that Indonesia, as the world’s largest Muslim country, can have a large Islamic bank. Not only that, this syariah bank merger is expected to help optimize the economic and economic potential of national sharia and strengthen the ecosystem of the halal industry.

The result of the merger of these banks has the potential to become the top 10 Islamic banks globally in terms of market value. This is also part of the government’s efforts and commitment to make the sharia economy a new pillar of national economic strength, which in the long run will also encourage Indonesia to become one of the centers of Islamic economics and finance in the world.

The merger of the three state-owned sharia banks is scheduled for completion in February 2021. The bank will have a total asset of Rp. 220 trillion to Rp. 250 trillion and is expected to occupy the seventh or eighth position in the top 10 banking sector in Indonesia.

The merged bank will have a range of products ranging from wholesaler, consumer, retail, to MSME and supported by good and reliable technology features. In addition, this Islamic bank has an extensive network of around 1,200 branches spread throughout Indonesia.

In 2025, it is hoped that the total assets of the Islamic Bank can reach IDR 390 trillion. The financing target is forecast to reach around IDR 272 trillion and financing of up to IDR 335 trillion.

Also read: 3 state-owned Sharia banks that have been officially merged, what is the fate of their employees?

The law on job creation is solidarity for small industries

BigBussiness – During the Covid-19 pandemic, the capabilities of business were not the same. There are large companies, medium-sized companies and small companies. If early retirement pay is too high, wages are too high and working hours are too rigid, it is difficult for small and medium-sized enterprises to grow.

“That is why we have made regulations that also reflect solidarity with small industries, Job Creation Law,” said Minister of Labor (Menaker), Ida Fauziyah, Tuesday (13/10/2020).

He said this in a roadshow to socialize the legislation on job creation. Ida met almost 70 representatives from unions and employers who participated in the Negotiation Skills Training for Industrial Relations Players in Yogyakarta.

This event was organized by the Ministry of Labor (Kemnaker), as part of an attempt to improve stakeholders’ opportunities for dialogue and negotiation.

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Present at the event, the Director General of Supervision and Working Environment (K3), Haiyani Rumondang and the Head of the Yogyakarta Labor Office, Aria Nugrahadi.

“As a result of the pandemic, our unemployment rate has increased to 6.9 million people, and 3.5 million are victims of redundancies (termination of employment). While every year there is an increase of 2.9 million new populations of working age. A total of almost 10 million just for 2020. So in the law on job creation we include many conditions to make it easy to do business.The establishment of MSME, for example, has made it easier to become registration-based, does not require permits, so they are not long and “Establishing a cooperative is only enough for 5 people, establishing a NPT is also simplified, only 1 person is enough, so that MSME can become legal entities so that they can be bankable. Can get credit,” said Ida.

Present at the forum, a number of union leaders at the provincial, district / city level for companies, including the Confederation of All Indonesian Workers Unions (K SPSI), the National Trade Union Confederation (K SPN) and a number of unions, especially hotels

Covid-19 Cases in Central Java Rise, Luhut asks regional heads to be alerted

Big Business – Luhut Binsar Pandjaitan, Deputy Chairman of the Policy Committee for Action Covid-19 and National Economic Recovery, emphasized that the number of Covid-19 cases in Central Java has increased in the last seven days. The surge in positive cases of Covid-19 was followed by an increase number of people (BOR) for intensive care units (ICU) which reached 65 percent.

“Please from these data, regents and ladies must be vigilant. Semarang City has 9648 confirmed active cases, then there are 644 deaths,” Luhut said during a meeting with Central Java Governor Ganjar Pranowo and his staff as mentioned in a written statement on Tuesday. October 13, 2020.

The occupancy rate of ICU rooms at all Covid-19 referral hospitals in the center of Java since September last year has always been below 60 percent. On 11 October 2020, however, the number of patients in the specialist room continued to increase and reached 65 per cent.

Luhut Pandjaitan ordered all ranks to take into account this data, from health workers, hospitals, to the regional police and the Central Java Military Command. He reminded that confirmation cases are still emerging.

“Operations need to be intensified to reduce cases of confirmation between local authorities, such as governors and governors in each region, especially areas that still have a significant increase,” Luhut said.

Based on data from the Central Java Provincial Government, on October 12, 2020, the number of positive cases of Covid-19 in the area was recorded at 26,640. Of the total cases, 18,852 patients were declared cured and 1514 others died.

Luhut explained that the recovery rate in Central Java is still below the national average of 76.5 percent. As of October 11, 2020, the Central Java recovery rate for Covid-19 patients was 71 percent.

In response to Luhut, Ganjar Pranowo stated that he would work with various parties to resolve the issue of the Covid-19 case, which is still growing with a micro-scale management strategy. “We use microsonization. With this strategy we can lock (the territory) on a smaller level,” Ganjar said.

Ganjar said he would be wary of more clusters, such as Islamic boarding schools, natural disaster clusters and demonstration clusters. The three clusters are claimed to be a priority for government monitoring.

Read also: Terawan: The government is responsible for the Covid-19 vaccine for two groups in society

FRANCISCA CHRISTY ROSANA

The former finance minister during the SBY era called BLT more useful than Jokowi’s pre-employment card

BigBussiness – Former Minister of Finance in the time of President SBY, Chatib Basri, considered that social assistance (bansos) in the form of direct cash assistance (BLT) is more beneficial than the program for employment cards initiated by President Jokowi.

Chatib argued that in the midst of the coronavirus pandemic or Covid-19 where community activities were limited, assistance in the form of BLT was more sensible than the pre-Employment Card training program.

“If I see that the most effective is the social assistance program / BLT, the challenge is actually in the data, but if it can be solved, it can be perfect or not,” Chatib said in a webinar, Tuesday (13/10/2020).

He then compared it to the Pre-Work Card program, which he considered less effective in providing stimulus assistance to people affected by the Covid-19 pandemic.

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“The pre-employment card has been heavily criticized because the online program is useless, I understand that,” he said.

He said that many of the participants before the employment card were forced to participate in training programs, even though the program was not very useful for the participants.

“But he will continue to participate to get money from the pre-employment card, while his training is ignored,” he said.

So said Chatib, the Pre-Work Card program could be used as a parameter for what the community actually needed in the midst of this pandemic was direct assistance or cash.

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The law on job creation is in the spotlight, the current IHSG is predicted to strengthen to level 5,140

TEMPO.CO, Jakarta – Head of Research at MNC Sekuritas Edwin Sebayang estimates that the current movement in the composite stock price index or IHSG will be affected by feelings of ratification of the Job Creation Law, including a demonstration of rejection.

From today until next week, Edwin said, it is a matter of domestic conditions due to the demonstration plan from various elements of society that reject the omnibus law.

On the other hand, it is unclear which version of the Job Creation Act was used because so far there have been four draft laws, including 900 pages, 1028 pages, 1052 pages and 1035 pages.

“The highlight of the demonstration is estimated to be October 20, 2020, as we celebrate the first year of the inauguration of the current government, and on the same date the government has expressed its desire to issue the omnibus law in the Ciptaker law,” Edwin said on Tuesday. October 13, 2020.

At the end of Monday’s session, JCI managed to stay above 5,000 and parked in the green zone with a gain of 0.78 percent to the level of 5,093.09. A total of 266 shares rose, 168 corrected and 161 stagnated. JCI also managed to record 6 consecutive rally sessions.