INDONESIA - RATINGS - Bank Muamalat Indonesia Tbk.

new.pefindo.com -PEFINDO affirmed its “_idA+” rating to PT Bank Muamalat Indonesia Tbk (BBMI or the Bank) with a ‘stable’ outlook.  At the same time, PEFINDO also assigned “_idA” rating to the Bank’s proposed Sukuk Subordinated Bond under PUB scheme with amount of up to IDR1.5 trillion.  The rating reflects the strong support from Islamic Development Bank (IDB), high growth potential of sharia banking segment, and BBMI’s strong market position.  However, the rating is constrained by the Bank’s increasing pressure in capitalization profile and moderate profitability performance.  (source)

INDONESIA - BANKING - Bank Islam eyes stake in Indonesian bank

www.bttimes.com.my - Bank Islam Malaysia Bhd, the country’s oldest Islamic bank, is in early talks to buy a stake in PT Bank Muamalat Indonesia, sources said.

Bank Muamalat is Indonesia’s second largest Islamic lender.  “The size of the stake could be slightly below the mandatory general offer trigger level (of 33 per cent)... it ultimately depends on Bank Muamalat’s shareholders,” one of the sources told Business Times. (source)

BANKING - Boubyan Bank to up stake in Muamalat Indonesia

Boubyan Bank has been recently excluded by the Central Bank of Kuwait (CBK) from the instructions regulating investments of Sharia-compliant lenders to lift its shareholding in Bank Muamalat Indonesia to almost 25%, Al-Rai newspaper learnt from first-hand sources. 

The KSE-listed lender had earlier applied to CBK to raise its equity in Muamalat. It was among the shareholders owning approx. 30% of the Indonesian bank that did not subscribe to its latest capital top-up.

The Indonesian lender’s major shareholders are Islamic Development Bank (around 40%) and Saudi-based Sedco Group (nearly 25%).