Bank Muamalat to issue global sukuk
The Jakarta Post
JAKARTA: PT Bank Muamalat, one of the country’s major sharia banks, plans to offer Islamic bonds worth between US$50 million and $100 million to global investors this year.
The bank’s president director, Arviyan Arifin, said in Jakarta on Monday that the sukuk bonds would be offered to investors in the Middle East. He said that the bank would open a branch in Jeddah, Saudi Arabia, to support the plan. “We will issue the sukuk this year as soon as we open a branch office in Jeddah,” he said.
Muamalat finance director Hendiarto said the bank was still preparing the opening of the new Jeddah branch. “We are still trying to meet the requirements,” he added.
Hendiarto said Muamalat also planned to issue subordinated sukuk worth about Rp 800 billion ($93.6 million) to Rp 1.5 trillion to strengthen the company’s financing capacity. — JP
- Dahlan caused Rp 11b in state losses: Prosecutors
- Sari Roti under fire after denying involvement in 212 rally
- Fintech world and new styles in payment
- Military denies internal split over treason arrests
- Police in hunt for another suspect in treason case
- Swiss doctor dies after diving in Bunaken
- Indonesia invited to speak frankly about Rakhine
- Former minister Dahlan tried for corruption
- AGO prepares interfaith prosecuting team for Ahok’s trial
- Businesses applaud traffic plan for Christmas holiday season