Article: Bank makes Indonesia foray

Adeline Paul Raj
New Straits Times
08-10-2009
Bank makes Indonesia foray
Byline: Adeline Paul Raj
Edition: Main/Lifestyle
Section: Business Times
Type: Company

BANK Islam Malaysia Bhd is pursuing a stake in Indonesia's PT Bank Muamalat to expand into the world's most populous Muslim nation, sour-ces said.

The oldest Islamic bank in Malaysia is ultimately seeking a controlling equity stake and the sources said it was already engaged in talks with several shareholders of the Indonesian islamic bank.
It is believed to be close to cementing a deal with at least one of the shareholders.

PT Bank Muamalat is Indonesia's largest bank by branch network. It has some 230 branches nationwide and is ...

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