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The Jakarta Post
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DKI Jakarta, Indonesia
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Sharia banking grows strong in Indonesia

  • Iwan Suci Jatmiko

    Contributor

Jakarta | Tue, January 19 2010 | 10:31 am

It was with good reason that the Indonesian Ulema Council and the government established PT Bank Muamalat Indonesia on Nov. 1, 1991. Such a move was welcomed by the public, which invested Rp 84 billion in shares when the bank was established.The people of West Java also showed their support by injecting Rp 106 billion into the bank. Although its business was not too bright in its early days, the b...

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