JAKARTA (Indonesia Today) – Bank Muamalat, the oldest sharia bank in Indonesia, plans to proceed with its plan for an initial public offering (IPO) next year even though Bank Indonesia suggested sharia banks to postpone their listing on the stock exchange.
Bank Muamalat CEO Arviyan Arifin told Indonesian media this week that BI’s suggestion is not significant in holding back the IPO plan. The listing would give the bank more accesses to capital and boost transparency in its financial management.
The bank is scheduled to select IPO underwriters this month. Three names widely circulated are PT Bahana Securities, PT Danareksa Sekuritas, and PT Indo Premier Securities.