JAKARTA: Indonesia's fifth largest bank, CIMB Niaga, announced it would open 302 new sharia offices by the end of this year based on its optimist forecasts on the future of sharia business.
The new sharia offices will open in eight provinces comprising Jakarta, West Java, East Java, Central Java, North Sumatra, South Sulawesi, Lampung and Riau
CIMB Niaga currently has 214 sharia offices in six provinces.
There will be 516 sharia offices in total by the end of this year, as part of the bank's 650 branch offices across the country.
Dradjad Tjahjono, CIMB Niaga head of sharia network and sales, said the opening of the new sharia offices was expected to attract 10,000 new customers.
Along with the expansion, the bank expects investments in sharia funding products to increase by 96.3 percent to Rp 1.5 trillion (US$151. 5 million) in the second half of the year, from Rp 764 billion in the first half of the year. - JP