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Article: Indonesia : Jamsostek to form investment firm with IDB-affiliated ICD.
- Article from:
- TendersInfo
- Article date:
- October 6, 2009
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State worker insurance company PT Jamsostek plans to ship out the management of its direct investments to a joint venture to be created with an Islamic company by the end of the year.
Jamsostek investment director Elvyn G. Massasya said Thursday the insurer would partner with the Islamic Corporation for the Development of Private Sector (ICD), the investment arm of the Islamic Development Bank (IDB).
Jamsostek will hold a controlling 51 percent stake in the new company, while ICD will hold 49 percent, Elvyn said.
All operations under the new company, he added, would be guided by sharia principles.
He declined to put a figure on the ...