Bank Syariah Mandiri is targeting its profit to increase 50 percent this year as it seeks to boost its branches across Indonesia. Yuslam Fauzi, president director of BSM, said that the lender aims to reach profit of Rp 1.2 trillion ($123.7 million) thi…
Bank Syariah Mandiri is targeting its profit to increase 50 percent this year as it seeks to boost its branches across Indonesia. Yuslam Fauzi, president director of BSM, said that the lender aims to reach profit of Rp 1.2 trillion ($123.7 million) thi…
Bank Syariah Mandiri is set to sell shares in an initial public offering next year, aiming to raise more than Rp 1 trillion ($103 million) as the first Islamic lender at the Stock Exchange. Having the largest Muslim population in the world, Indonesia lags behind its neighbor Malaysia in terms of the development of Islamic finance. The total assets of Islamic compliant lenders in Indonesia accounts for around 4.7 percent of the total banking assets in the country. Moreover, it is home to 120 commercial lenders with combined total assets of Rp 4,000 trillion.
Bank Syariah Mandiri is one of a few units of Bank Mandiri, the country’s largest lender by assets. Other units include Bank Sinar Harapan Bali and Mandiri Sekuritas.
It seems that Bank Indonesia (BI) plans to launch a regulation to limit the pawning of gold at sharia banks, as most of bank customers are inclined to use the service for speculation.
Three sharia banks—Bank Syariah Mandiri, Bank Rakyat Indonesia Sya…
Maybank Islamic (MI) has signed a Memorandum of Understanding (MoU) with Bank Syariah Mandiri (BSM), Indonesia, to set up cross border collaboration in all Islamic treasury and trade finance matters.
This collaboration is going to set the terms of coop…
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