INDONESIA - BANKING - Chairul Tanjung and Sandiaga Uno Bet on Bank Muamalat

Theindonesiatoday.com - Two businessmen Chairul Tanjung and Sandiaga Uno are betting on acquiring PT Bank Muamalat Tbk. Also competing are PT Bank Mandiri Tbk (BMRI) and five foreign banks, Detikfinance.com reported.

Chairul Tanjung will bid Bank Muamalat through Para Group while Sandiaga Uno uses his investment arm PT Saratoga Investment Sedaya.

Mulya Siregar, director of syariah banking directorate, said those among five foreign banks interested to acquire Bank Muamalat are Qatar Islamic Bank, OCBC, Standard Chartered and ING Barings Bank. (source)

He said three investors had submitted their proposal to the central bank (Bank Indonesia). "No one has made a deal with Muamalat. We do not know the price it offers," Mulya said.

He added BI prefers investors that have a long term commitment to invest in Bank Muamalat and argues the investors not to change the bank's vision and mission.

Bank Muamalat is currently owned by Boubyan Bank Kuwait, Saudi Arabian Atwill Holdings Limited and Islamic Development Bank (IDB). ( hans@theindonesiatoday.com)

Source :  http://theindonesiatoday.com/banking-headlines/12409-chairul-tanjung-and-sandiaga-uno-bet-on-bank-muamalat.html  - July 13, 2011