Financial and banking industries are seriously penetrating into the retail market; this is also done by Bank Muamalat Indonesia (BMI) jointly with PT Alijarah Indonesia Finance (ALIF) for sharia-based car financing.

The rapid growth of Sharia banking industry is increasingly noticeable in view of the growth of total offices opened. Not only conducts expansion to regional areas, but also still expanse in the urban. This is at least visible from the progressive efforts of Bank Muamalat Indonesia (BMI), which is still conducting vigorous expansion in Greater area of Jakarta and surrounding areas.

The Jakarta Post | Thu, 07/15/2010 10:56 AM

JAKARTA: The Indonesian Ulema Council (MUI) is working together with Religious Affairs Ministry and an event organizer to produce the first Indonesia International Halal Business and Food Expo 2010 (IHBF Expo) this month.

Gulfbase.com - July 15, 2010

Farouk Alwyni of Bank Muamalat warns Indonesian Islamic banks may be undercapitalised, no institution has equity of more than $200 million

Expansion of Bank Muamalat Indonesia (BMI) is expected to be accelerated as it will be supported by the strengthening of capital structure. Post-Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of the Shareholders (EGMS) held at end of June 2010, Indonesia's leading Islamic bank is currently focusing on the agenda of right issue.

JAKARTA: Indonesia's Bank Muamalat, the country's second largest Shariah lender, said on Wednesday that its existing shareholders will take up all its 952 billion rupiah ($105.2 million) rights issue that is set to close on Thursday.

Gait of Bank Muamalat Indonesia (BMI) to empower the Small and Medium Enterprises (SMEs) seem to be increasingly stretched in Bengkulu Province. As Wednesday 3/6, this First Purely Sharia bank will open office in Curup Town.

The 6th World Islamic Economic Forum (WIEF) that took place in Kuala Lumpur, Malaysia 05/19 has raised new spirit of Islamic countries to develop cooperation in the field of Islamic finance. At least, the optimism shown by the heads of State/Government of Muslim populated Countries addressing in this forum.

KUALA LUMPUR - Five separate memoranda of agreement (MoA), worth a total US$125.3mil (RM407.54mil), were signed at the 6th World Islamic Economic Forum yesterday.

KUALA LUMPUR: International Islamic bank (IIB) PT Bank Muamalat Indonesia Kuala Lumpur aims to double its total financing assets (originating from branch) to US$70mil (RM228mil) this year as more corporates look towards Indonesia to start or expand their business.