As the recovery in the dollar over other currencies in the world. This was triggered by a speech the Governor of the Fed, Ben Bernanke, on Friday night before a conference sponsored by the state of the Boston Federal Reserve. “During today’s trading rupiah had weakened to as low as 8932 per U.S. dollar after 8920 rose to a new level,” Rupiah exchange rate in the interbank foreign exchange spot market on Monday closed down 11 points (0.12%) so 8.931/8.935 per U.S. dollar from the position last week 8.920/8.925. But further the Word says, the general sentiment of the weakening U.S. dollar is still awake. However, Bernanke’s speech last week, did not provide details or further details related to easing monetary or quantitative easing (QE) that the U.S. central bank will roll it. ” these details encourage investors to book profits from the long rally in financial assets last two weeks, Bernanke said the Fed would implement the second phase of monetary easing by QE. But Ben did not state when the execution time and how much.
Markets expect, the program will be held on November 2 to 3 the next. “Based on the survey, the Fed is expected to increase purchases of bonds worth U.S. $ 500 million,” Word asserted, because Bernanke did not give details on his speech last week, investors take advantage of this momentum to profit taking temporarily. “Included on the rupiah,” he said. On the other side of the joint currency of European countries (the euro) weakened against the dollar since the governor of the ECB (European Central Bank), Jean-Claude Trichet yesterday said the European Central Bank stimulus will still be maintained as long as the market still need it. “This comment is a negative sentiment for the euro,” he said.
As a result, the U.S. dollar strengthened against all major currencies, including against the euro. “Against the euro the U.S. dollar traded rose to the level of U.S. $ 1.3881 from U.S. $ 1.3974 per euro, On the other hand, Purwoko Sartono, an analyst with Panin Securities said, the weakening stock index earlier this week triggered weakening of prices of various commodities which averaged 1.7%. Among these, crude oil prices fell to as low as U.S. $ 81.25 per barrel and the price of crude palm oil (CPO) at the level of U.S. $ 1,000 per tonne based on prices in Rotterdam. So is the price of metal. “Depressed stock index as well as overbought factor in the banking sector’s shares
Al Murabaha is the sale of goods at the original price agreed upon with the additional benefits provided must notify the seller that he bought the product price and determine a level of profit (margin) as enhancements. In the transactions mentioned conditions must be met as follows:
1. The seller told the cost of capital to the customer;
2. The first contract must be valid in accordance with the harmony that has been established;
3. The contract must be free from riba (interest);
4. The seller must explain to the buyer if there is defect in the goods after purchase;
5. The seller must deliver all the matters related to the purchase.
Applications mentioned in Islamic Financial Institutions is to finance the purchase of investment goods. Al Murabaha is a contract for one contract (one short deal), so it is less precise when used to finance working capital.
Financial institutions are generally categorized into 2: banks and non-banks. The main difference is the banks are allowed to collect public funds held with current accounts, savings and time deposits. Bank (general) given a ‘license’ to ‘create money. ” By government banks were given greater flexibility in its activities sanghat. The Bank may finance any type of financing, including credit cards and consumer financing. In addition, banks may be a sales agent for such financial produk2 bonds, mutual funds., Etc. The Bank may have securities firms, insurance and financing, etc.. Business sectors and extensive bank activity, not just financing.
Instead of financing a company may only move in 4 areas of business financing: leasing, consumer financing, factoring and credit card. Other types of financing, such as working capital loans, non-permitted. Restriction that is difficult to understand, what logical rationale behind it?
Finance companies do not collect funds from the public so if they collapsed their impact is relatively very small when compared with the collapse of a bank. Finance companies are like normal companies. Why are they restricted? Are not they not use the funds savings community in financing? Instead the bank most of the funds are owned by the community. If a bank collapses then the impact is very large relative to the economy as a whole, if a bank collapses, the government has to cover the losses
Eight finance companies awarded the best 2006 from Investor magazine. For the best finance companies with assets above Rp 2 trillion achieved by PT Bussan Auto Finance and PT Caterpilar Finance Indonesia. This was conveyed by chief editor Primus Dorimulu in Jakarta today.
PT Wahana Ottomitra Multiarta be the best in the category of assets of Rp 1-2 trillion. For the four other categories achieved by PT Sasana Artha Finance and PT Diamond Lease Indonesia (Rp 500 billion asset-Rp 1 trillion), PT Bringin Indotama Sejahtera Finance (assets of USD 250-500 billion), PT Danpac Finance (USD 100-250 billion of assets ), and PT Harvesia Asset Finance (assets of less than Rp 100 billion). Data from the Ministry of Finance says there are about 210 finance companies in Indonesia. However, Investor selection is only performed on 131 of 134 companies that become anggotan Indonesian Financial Services Association.
According to Primus, the company that pass the selection must meet the initial requirements, which have positive earnings and capital, debt to equity ratio of not more than 15 times, and submit financial statements prior to August, and is still actively operating. “Then, do the ranking based on return on assets, return on equity, debt to equity ratio, earnings growth, assets, and income 2004-2005, as well as financing ratio to total assets,” he explained.
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