IBF Peroleh Pendanaan Dari ICD, 10 November 2014
IBF AND ICD SIGNED MURABAHAH FINANCING IN THE AMOUNT OF USD 10 MILLION
Jakarta, 10 November 2014 – The Islamic Corporation for the Development of the Private Sector (“ICD”), the private sector arm of the Islamic Development Bank Group, Saudi Arabia, today signed Murabahah financing agreement with PT. Intan Baruprana Finance Tbk (“IBF”) for an amount of up to USD10 million with 4 (four) years tenor, in Jakarta.
Jap Hartono, President Director of IBF said that the Company is proud to partner with ICD as it is the Company’s first offshore financing sources. Moreover, this is also a landmark transaction indicating and showing IBF’s ability to continuously bring Indonesian Sharia Finance to the global scene, after partnering with Phillip Capital, a prominent investor from Singapore, as an investor in 2013.
“This facility will create more diversified sources of funds for IBF. It is a very competitive facility which will help us to continue our strategy to create customized solutions to client’s investment and working capital financing requirement. This facility will greatly enhance our competitiveness among finance company to finance our clients in USD currency,” said Jap Hartono during the signing ceremony.
As one of Indonesia’s prominence finance company, IBF does its business in line and supports Sharia Philosophy. This is also stated as IBF business’s mission; to create jobs and prosperity as well as to create and build many local inspiring entrepreneurs.Today, IBF’s focus is to provide fleet financing on capital goods in the area of Infrastructure, Construction, Transportation, Mining, Agriculture & Plantation, Commercial Vehicle, Shipping and Oil & Gas. IBF’s competitiveness is further strengthened by the large group network of INTA Group that has more than 40 networks in Indonesia.
About PT Intan Baruprana Finance Tbk (IBF):
IBF which was established in 1991 provides customized financing solutions for capital goods to businesses in various prospective sectors throughout Indonesia. In 2003, PT Intraco Penta, Tbk. (INTA group), one of Indonesia's prominent heavy equipment companies acquired the Company and in 2013 Philip Capital from Singapore acquired 9.71% of IBF’s shares with the remaining still owned by INTA group. Currently IBF is in the process of listing its shares in Indonesia Stock Exchange. IBF vision is to be the tier-1 finance company in the financial industry in Indonesia.
About the Islamic Corporation for the Development of the Private Sector (“ICD”):
The Islamic Corporation for the Development of the Private Sector (“ICD”) is a multilateral organization, part of the Islamic Development Bank (“IDB”) Group. ICD was established in November 1999 to promote economic development of its member countries in accordance with the principles of the Sharia through private sector development. ICD encourages the establishment, expansion and modernization of private enterprises through financing private sector enterprises or projects. Projects are selected on the basis of their contribution to economic development considering factors such as creation of employment opportunities and contribution to exports. ICD also provides advice to governments and private sector groups on policies to encourage the establishment, expansion and modernization of private enterprises, development ofcapital markets, best management practices and enhance the role of market economy. ICD operations complement the activities of the IDB.
For further information please contact:
1. The Islamic Corporation for the Development of the Private Sector (“ICD”):
Ahmed A Khalid
Regional Head- Asia
Tel: (+603) 26926630 Fax: (+603) 2694-6626
E-mail: email@example.com, Website: www.icd-idb.org
2. PT IntanBaruprana Finance Tbk (IBF):
Tel: (+6221) 4401408 Fax: (+6221) 4401408
E-mail: firstname.lastname@example.org, Website: www.ibf.co.id