islamic financial market development of indonesia · ppt file · web...
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IndirectFinancial
Market
DirectFinancial
Market
Islamic Bond/ Sukuk
Market
IslamicEquityMarket
FinanceCompanies Micro
Financing
CommercialBanks
UnitTrusts
Takaful
IslamicFinancial
MarketDeficitSector
SurplusSector
IslamicCapitalMarket
IslamicMoneyMarket
Islamic Market Infrastructure
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The Indonesian Islamic Financial and Fiscal Landscape
Capital Market Insurance Pension Funds Finance Companies
Micro Finance Pawn Shop Fiscal and Real Sector
Social
SocialSector
Banking
UU No. 21 Th 2008Perbankan Syariah
UU No. 19 Th 2008SBSN
UU No. 20 Th 2008UMKM
UU No. 38 Th 1999Pengelolaan Zakat
UU PerpajakanDalam Proses Amandemen
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Islamic Financial Islamic Financial Market Development Market Development of Indonesiaof Indonesia
Islamic banking
Takaful
Financial Markets
Sukuk
1992 1999 2001 2003 2006 2008
1980 1994 2000 2002 2004 2007
▪ 1st Takaful Company Asuransi Takaful Keluarga
▪ 1st Islamic Bank Bank Muamalat Ind
▪ 1st Takaful Branch Assi Great Eastern
▪ 1st Islamic Branch Bank IFI Syh▪ 2nd Islamic Bank Bank Syh Mandiri
▪ Islamic Banking Act
▪ Office Channeling
Baitut Tamwil Salman Bdg, Koperasi Ridho Gusti Jkt.
▪ 1st Islamic Re-ins ReINDO
▪ Islamic Money Market (IMA Certificate)▪ Jakarta Islamic Index
▪ Islamic Capital Market▪ ICM Master Plan (2005)
▪ 1st Corporate Sukuk Indosat (Mudharabah)
▪ Sukuk Guidelines (2006)
▪ Sukuk Act & Govt Sk
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Islamic Banks
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Islamic Banks
Major Activities Funding Financing Service
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Types
Islamic Commercial Banks Islamic Business Unit Islamic Rural Banks
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Functions
Provide place to store money (safe keeping function)
Provide mode of payment for goods and services (transaction function)
Act as an agent of national development
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Surplus unit Deficit unit
Funding Financing
Profit sharing/marginProfit sharing/bonus
Sharing based concept, thus there is no negative spread
Islamic Bank as a Financial Intermediaries
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Negative Spread
Saver Bank Lender
Dana Simpanan Dana Pinjaman
Bunga Simpanan Bunga Pinjaman>
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Deposit
Equity Financing
/PLS
•Mudharabah
•Musyarakah
Nasabah Deposan
- Giro wadiah - Tabungan
mudharabah
Islamic Banks
Owner
•Murabahah
•Salam•Isthisna•Ijarah Qardhul
Hasan
PS/Bonus
PS
Equity
Debt Financin
gPSprofit
margin
Zakat
Qardh
Fee
Islamic Banks Operational System
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12
• BI: Perizinan, Pengaturan dan Pengawasan • DSN : Fatwa Kegiatan Usaha dan DPS
• IAI : PSAK, PAPSI, Pedoman Audit• Badan Arbitrase
• Lain-lain
Regulator, Monitor and other Bodies
• Conventional Bank• Other Financial
Institutions
Competitor/Subtitor
• Integrity• Competencies
• Loyalitas
Customer/Society
Manager and Owner
• Integrity and Competencies• Shariah Compliance
• Prudential Regulation Compaliance
Good Islamic Banks
• Macro Economic Condition : real sector, fiscal sector, monetary sector, and
international
Infrastrukture
Determinants of Islamic Bank Developments
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Funding Activities
Owners’Equity Paid in capital
Second Parties Fund Third Parties Fund
Mudharabah Saving Account Deposito Mudharabah Giro Wadiah
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Financing Activities Equity Financing
Musyarakah ‘Inan = kerja sama modal beda Mufawadhah = kerja sama modal sama A’mal = kerja sama keahlian Wujuh = Kerja sama nama baik/reputasi
Mudaharah Mudharabah Mutlaqah = unrestricted Mudharabah Muqayyadah = restricted
Debt Financing Salam Istishna Murabahah Ijarah