07.02.2013 - Indonesia: Shariah banks say new BI down payment rule no hindrance to loan disbursement
Sharia banks are taking in stride Bank Indonesia’s plan to effect a new regulation on minimum down payments for housing and vehicle loans at their institutions, saying the central bank’s policy will not significantly impinge on their loan activities. “The policy won’t dampen consumer demand for such loans,” OCBC NISP Bank’s sharia business unit head Koko Racmadi said in Jakarta recently. OCBC NISP adopts the musyarakah mutanaqisah (MMQ) financing scheme from Islamic finance products. MMQ is a type of housing loan in which sharia banks act as the owner of the house and gradually yield ownership to customers, who effectively act as its renter...............................................Full Article: Source
Print