Ummid Assistant

Exam time: Dial a helpline to overcome stress

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home » Business & Finance

Malaysia’s Bank Islam to buy stakes in Bank Muamalat Indonesia: Report

Tuesday February 14, 2012 08:31:11 AM, IINA


Kuala Lampur: Bank Islam, the second largest sharia bank in Malaysia, is in early talks to buy a stake in PT Bank Muamalat Indonesia, Business Times reported on Monday.

Middle Eastern financial institutions such as Islamic Development Bank, Boubyan Bank Kuwait and a Saudi investment holding firm Sedco own 75 percent of Bank Muamalat and are looking to sell down their holdings, Business Times said citing a source.

The widely-read newspaper also said the Indonesia’s central bank was keen to see an Islamic bank take up a stake in Bank Muamalat — the country’s oldest Islamic bank.

Bank Islam is a 51 percent owned unit of Malaysia’s Islamic financial group BIMB Holdings Bhd, which has earlier said it was not keen on a Bank Islam-Muamalat union.

A Bank Islam official told Reuters the bank was interested in expanding into Indonesia but declined say if the intended acquisition would be Bank Muamalat.

Qatar Islamic Bank pulled out of the bidding race for a majority stake in Bank Muamalat, banking sources told Reuters in July last year, leaving Standard Chartered Plc as the sole remaining bidder.

Shares of BIMB rose 1.38 percent to 2.21 ringgit ($0.73) as of 0230 GMT. ($1 = 3.0285 ringgit).








  Bookmark and Share

Home | Top of the Page



Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS

More on Islamic Finance

Ethica Islamic finance training comes to India

Islamic Index launched on Australian market

South Africa all set to introduce Islamic Bonds

Bermuda Launches Islamic Finance Services

'Prime Minister bats for Islamic Finance when away, ignores at home'

'Islamic Finance in India can attract investments from Middle East'

Prospects of Islamic Banks in India - Malegaon to discuss Sunday

UAE most competitive banking market in Gulf

Islamic Banking: Developed by Indians, flourishing in other countries

France to learn from Saudi experience in Islamic banking

Kerala to push Islamic banking, low-cost airline: Oomen Chandy

Islamic banks may double assets in next five years

Rampant misconceptions about Islamic banking stop its growth

Shariah Portfolio Management Services (PMS) launched in Mumbai





In Depth

Islamic finance gives universities a bonus

With global finance on its knees, this summer's business graduates face an even trickier jobs market than most. But there is one area of banking still experiencing boom time – Islamic finance – and universities have been quick to grasp its possibilities.   »

Lack of experts, no regulatory authority hinder growth of Islamic Finance

Global Islamic finance industry worth over $1tr in asset terms

‘Don’t let the name scare you. Islamic banking is beneficial for all'

Encouraged by the results, other international banks like HSBC and Barclay have also introduced special windows. These windows have facilities for the people interested in dealing on the principles of Islamic Shariah. Likewise is the Islamic Bank of Britain. The very concept of these banks is that they are following the Islamic principles,  »

Learn from Islamic banking success stories: Rahman Khan

IDB, Insaniah varsity launch master's degree program in Islamic finance


  Related Articles

People from other religions too opting for halaal foods

Health concerns see members of other religious groups seeking advice on suitable foods. Non-Muslims are becoming part of the estimated 635-billion worldwide halaal (permissible) market, South African National Halaal Authority (Sanha)  »

Iran announces new Islamic internet

Iran has announced it would launch an Islamic internet to counter the influence of the US-dominated world wide web. "Iran will soon create an internet that conforms to Islamic principles, to improve its communication and trade links with the world," Ali Aqamohammadi, head of  »

Iran to launch national internet in August



Shariah Index launched, BSE hopeful of quick returns

The Bombay Stock Exchange, Asia’s oldest trading floor, along with the Mumbai-based Taqwaa Advisory and Shariah Investment Solutions on Monday launched an index comprising shares, of   »

Indian Muslim traders welcome sharia-compliant share index

Nigeria issues license to first Islamic Bank

The Central Bank of Nigeria (CBN) June 21 has issued provisional license to Jaiz International Bank to launch Nigeria's first Islamic bank, a media report said. The CBN has given the license to Jaiz International Bank subject to fulfilling the bank authorization  »

Islamic banking thrives in financial crisis

Islamic banking has emerged as one of the most rapidly expanding sectors of the global financial industry, with expectations that it will play a growing role in the years to come.Banks and financial institutions that comply with Islamic law (sharia) showed impressive resilience   »

Equity Market: An investment option the Islamic way

In order to remain in the main stream of the economy and have equitable investment opportunity, equity stock market (The Islamic way) provides the most cost effective investment solution for the Muslims. Hence they should take advantage of the boom in the equity market of the country so that they are not left behind in the economic growth that is being witnessed  »


Picture of the Day

Dr Shariq Nisar, Director of Research and Operations of India’s premier shariah advisory firm TASIS and one of the senior most professionals of Islamic Finance in India, was in Malegaon on Sunday to address a seminar on "Prospects of Islamic Finance in India".




RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant



Science & Technology



About us




Government Schemes










Contact us





    Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2010 Awaz Multimedia & Publications. All rights reserved.