INDONESIA - CAPITAL MARKETS - Bank Muamalat Gets Ball Rolling On Fund-Raising With Bond Sale

www.thejakartaglobe.com - Bank Muamalat, an Islamic lender in Indonesia, is planning to raise Rp 800 billion ($85 million) from the sale of subordinated Islamic debt this week.

The bank, which is partly controlled by the Islamic Development Bank, is offering the 10-year Islamic notes to investors today and plans to list the debt on the Indonesia Stock Exchange next Monday.

The offering will be the first as part of Bank Muamalat’s long-term plan to raise Rp 1.5 trillion within two years, the lender said in a brief prospectus published in Investor Daily on Monday.

Indonesia is the world’s largest Muslim population country, with Muslims comprising 85 percent of its 240 million population.  (source)