Theindonesiatoday.com - Islamic Development Bank (IDB) will divest
its stake in PT Bank Muamalat Tbk as it opts to also invest in Islamic
banks in other countries which are member of IDB.
Said Taufik Ridha, IDB's structured finance officer for
public-private partnership division, said Bank Muamalat had been now
well growing so IDB considers to divest stake in Bank Muamalat as
mandated since its first investment stage. (source)
"Our mandate is to help growing the Islamic banks in countries which are IDB members," he was quoted by Investor Daily as saying. Said said IDB currently has 56 member countries.
IDB now holds around 32% stake in Bank Muamalat. Other shareholders are Atwill Holding Limited (24%), Boubyan Bank of Kuwait (32%) and local investors (20%).
Media reported IDB may divest 12% stake in Bank Muamalat as by regulation, IDB should not invest by more than 20% stake ownership in one institution. ( hans@theindonesiatoday.com)
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