|copyright: Ed Wray/Bloomberg|
Hanifah took out a Shariah-compliant loan from PT Bank Muamalat Indonesia after her husband’s death to help finance a store on the ground floor of a shophouse in Serang, two hours’ drive west of Jakarta. While she doesn’t pay any interest, borrowers like Hanifah typically must give the bank 40 percent of their profit plus part of the principal each month.
“When times are good, I pay more on my loan than most people, ” said Hanifah, whose monthly take is about 50 million rupiah ($5, 189). “But I won’t have to worry when times are bad. I don’t have to pay anything when I’m not turning a profit.”
Loans like Hanifah’s could help Indonesia, the country with the world’s largest Muslim population, narrow the gap with its neighbor. It’s speeding up government approvals and fixing a fragmented regulatory system as part of an effort to reach more unbanked Muslims and increase the portion of Islamic assets in the banking system to 15 percent by 2017, from 4.3 percent.
That’s creating opportunities for global banks includingStandard Chartered Plc (STAN) and HSBC Holdings Plc (HSBA), both based in London, which are issuing financial products that comply with Islamic law, or Shariah, as fast as regulators allow. It’s also attracting interest from Malaysian lenders across the narrow strait separating the two countries.
“That’s huge growth we’re talking about, quadrupling the market share, ” Wasim Saifi, Standard Chartered’s Kuala Lumpur- based global head of Islamic consumer banking, said in an interview in Singapore. “Indonesia is clearly one market where everybody sees the maximum growth potential.”
Suggestions...2005-01-26 15:20:02 by Katycatz
My fam had these...
1. Kiddie party at local pizza place..with kid gym inside
2. Clown party
3. Family party..usually thats enough excitement for a 2 year old.
3. In summertime...a pool party with family (we had large family)
4. Movie party...at local theater..with a childs movie (Walt Diz..usually).
5. And...prob. lots of books in book store with more ideas for you.
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