Mideast Banks Show Interest In Indonesian Shariah Financers
The Central bank of Indonesia estimates that the nation’s Islamic assets will improve by 55% this year.
That's why Albaraka Banking Group and Qatar Islamic Bank have a goal: to produce Shariah-compliant financers in Indonesia.
Chief executive Adnan Ahmed Yousif pointed out that Albaraka is ready to spend $100 million on an acquisition.
Indonesia has 11 full-fledged Islamic lenders and 23 other banks that offer Islamic services. The government want to begin selling short-term Islamic treasury bills for the first time in the second half of the year.