deutsche-to-offer-sharia-fund-admin-in-indonesia

Deutsche to offer Shari'a fund admin in Indonesia

The firm becomes the first custodian bank in Indonesia to offer approved Shari'a fund admin services.
Deutsche Bank has notched up a first in Indonesia becoming the only custodian bank to offer ShariÆa fund administration services. The announcement follows approval by IndonesiaÆs National ShariÆa Board NSB and comes at a time when ShariÆa funds are experiencing strong growth in Indonesia on the back of growing affluence, growing awareness and imminent issuance of ShariÆa bonds.

Unlike traditional mutual funds in Indonesia, ShariÆa-based fund administration services are governed by a different set of principles. The biggest different between this and traditional fund administration services stem from the method in which income and stock dividends are calculated and recognised. In accordance with Islamic principles, the options for payment of tax and donations are different...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222