JAKARTA: Bapepam-LK will restrict the procedures of financial statement for sharia financing companies, considering that so far the publishing has yet not been standardized so there is no synergy between regulators and the industry.Head of Financing and Guarantee Bureau of Financial Institution and Capital Market Supervisory Agency (Bapepam-LK) M. Ihsanudin said during this time financial report of sharia-based financing company is very diverse.As a result, the financial institution's authority can not publish detail and accurate performance data and industrial development.So far, regulation of sharia unit is Chairman of Bapepam-LK Regulation No.PER-03/BL / 2007 on the Activity of Sharia-Based Financing Company.In this regulation there is only provision on liability and deadline to report monthly performance report of sharia unit to Economic Statistics Directorate of Bank Indonesia and Bureau of Financing and Guarantee of Bapepam-LK on the 10th of each following month."We are planning to tighten financial report standards for sharia financing unit of financing companies by revising the regulation or making new regulation," he said, recently.With the new regulation, the financial report of sharia financing companies will be more detail and standardized so that the industry will obtain accurate and complete data, and it allows the creation of synergy between the regulator and industry players.Chairman of Indonesian Financing Companies Association (IFSA) Wiwie Kurnia saw the capital market authority is able to require the uniformity of sharia companies financial statement.President Director of PT Mega Central Finance also supports detail financial statements for sharia financing unit.Sharia fundsIn addition to the submission of financial statement of sharia financing units, Ihsanudin also said that financing companies which currently obtained loans from sharia banks should have sharia units.Regulation of Chairman of Bapepam-LK No.PER-03/BL/2007 only regulates that the company is committed to the principles of sharia financing is required to obtain funding sources based on sharia principles as well.The regulation does not require the finance company which obtaining loan facility to have a sharia financing unit. (t03/msw)

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