Jakarta (Antara Bali) - Bank Indonesia (BI) is preparing sharia
compliant deposit certificates (NCD) to strengthen the liquidity of the
banking industry in the country.
"The sharia securities are an alternative mode of raising funds
instead of doing so from deposits, savings or giros which no longer
record a growth as high as in the past," assistant director of the
sharia economic and financial department at Bank Indonesia, Rifki Ismal,
said here on Friday (Oct. 21).
Sharia compliant NCD is a money market instrument designed by
combining the advantages of deposits and bonds or sharia bonds.
Besides easily accessible like deposits, the sharia compliant NDC
can also be sold in the money market in the same way as bonds, he noted.
To make this instrument a reality, Bank Indonesia, which has the
authority to buy and sell financial products, will coordinate with the
Financial Service Authority, he observed.
Bank Indonesia is still conducting various studies covering aspects
such as edict (fatwa), factoring and limitation before issuing sharia
compliant NCD in 2017.
"We discussed internally the BI Regulations with other relevant
authorities. We continue to communicate with the OJK (the financial
service authority)," he informed.
Sharia NCD can also be directed towards expanding credit along with the rising liquidity fund. (WDY)
Bank Indonesia Preparing Sharia Compliant Instruments
Sabtu, 22 Oktober 2016 13:13 WIB