we know you want a bolder paper season

Jakarta banjir lagi.. hal ini sudah menjadi seperti tradisi bagi warga ibu kota.. karena hampir setiap tahun setiap musim hujan selalu terjadi banjir. entah itu banjir kiriman dari bogor atau jakarta sendiri dilanda hujan terus menerus sehingga sungai-sungai di jakarta menjadi penuh dan meluap. hal tersebut juga di picu karena tingkat kekumuhan kota jakarta sudah sangat parah sekali di topang aliran sungai yang mendangkal dan sampah-sampah yang menjadi sumber utama penyebab terjadinya banjir di jakarta.. sebagai ibu kota negara harusnya jakarta lebih bisa bersih dan tertata rapi..

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JAKARTA: Sales of sharia bonds (SBSN / sukuk) retail until the third day has reached Rp2, 05 trillion, approaching the indicative target of the government set Rp3 trillion.

Ministry of Finance Debt Management Director General Rahmat Waluyanto expressed optimism the sale of securities retail sharia series 02 (SR-002) exceeds the indicative target.

"Some agents have asked upsize [target] but we have not considered it because it still has many instruments to be issued this year. So the maximum target indikatifnya still Rp3 trillion," he said via short message service yesterday.

Rahmat explained until yesterday, as many as 3981 investors who had ordered the retail sukuk. The SR-002 coupons that the government set the level of 8.7% and will mature within the next 3 years with the offering period until February 18.

Wealth Management Group Head PT Bank Mandiri Tbk Inkawan D. Jusi said the company was getting requests around Rp500 billion until the third day of sales. The amount is equivalent to 62.5% from the initial target set for a state bank was Rp800 billion.

He explained no restrictions on purchases by the government became one of the factors that made the company optimistic to reach the target set. Bank Mandiri plans to ask for an increased sales to the government's target of 2 days.

The PT Reliance Securities Tbk Sukuk Retail sales target 002 series at least Rp100 billion following the belief that investment bonds are sharia-based state predicted market demand.

Nicky Hogan, Vice President Director of Reliance, said today it continues to disseminate to the public. Request to purchase Sukuk is still not there.

"In the second week sales are usually crowded, even more than the quota for Reliance which reached Rp100 billion," he said, on the sidelines of the show talks about the Sukuk Retail 002 in Malang, yesterday.

Retail Sukuk prediction would be interested in 002 communities, he added, because the coupon or ijaroh higher than deposit rates that banks currently range from an average of 6%, while the coupon or sukuk ijaroh reaches 8.7%

During the Islamic Golden Age, early forms of proto-capitalism and free markets were present in the Caliphate,^[1] where an early market economy and an early form of mercantilism were developed between the 8th-12th centuries, which some refer to as "Islamic capitalism".^[2] A vigorous monetary economy was created on the basis of the expanding levels of circulation of a stable high-value currency (the dinar) and the integration of monetary areas that were previously independent.

A number of innovative concepts and techniques were introduced in early Islamic banking, including bills of exchange, the first forms of partnership (mufawada) such as limited partnerships (mudaraba), and the earliest forms of capital (al-mal), capital accumulation (nama al-mal),^[3] cheques, promissory notes,^[4] trusts (see Waqf), startup companies,^[5], transactional accounts, loaning, ledgers and assignments.^[6] Organizational enterprises similar to corporations independent from the state also existed in the medieval Islamic world, while the agency institution was also introduced during that time.^[7][8] Many of these early capitalist concepts were adopted and further advanced in medieval Europe from the 13th century onwards.^[3]

Riba

The word "Riba" means excess, increase or addition, which correctly interpreted according to Shariah terminology, implies any excess compensation without due consideration (consideration does not include time value of money). The definition of riba in classical Islamic jurisprudence was "surplus value without counterpart." or "to ensure equivalency in real value" and that "numerical value was immaterial." During this period, gold and silver currencies were the benchmark metals that defined the value of all other materials being traded. Applying interest to the benchmark itself (ex natura sua) made no logical sense as its value remained constant relative to all other materials: these metals could be added to but not created (from nothing).

Applying interest was acceptable under some circumstances. Currencies that were based on guarantees by a government to honor the stated value (i.e. fiat currency) or based on other materials such as paper or base metals were allowed to have interest applied to them.^[9] When base metal currencies were first introduced in the Islamic world, no jurist ever thought that "paying a debt in a higher number of units of this fiat money was riba" as they were concerned with the real value of money (determined by weight only) rather than the numerical value. For example, it was acceptable for a loan of 1000 gold dinars to be paid back as 1050 dinars of equal aggregate weight (i.e., the value in terms of weight had to be same because all makes of coins did not carry exactly similar weight).