Bank Muamalat Indonesia (BMI), commonly called as Bank Muamalat, is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

in Indonesia operating on the principles of Islamic banking. The bank was founded in 1 November 1991, based on the initiative of the Indonesian Council of Ulamas (MUI) and under the auspices of the

Government of Indonesia The term Government of the Republic of Indonesia (, GOI, sometimes also referred to as Government of Indonesia or the Central Government () especially in laws) can have a number of different meanings. At its widest, it can refer collectively ...

. The bank's operations began in 1 May 1992 with foreign exchange service began in 1994. Funding products apply the principles of wadiah (deposit) and mudarabah (profit-sharing). Financing products apply the principles of bai’ (buy and sell), musharakah (equity sharing), mudarabah, and ijarah (rent). Bank Muamalat serves nearly 3,000,000 customers throughout Indonesia and Malaysia. Currently, 82.65% stake of Bank Muamalat is owned by an Indonesian government agency, Hajj Fund Management Agency (BPKH), followed by Andre Mirza Hartawan (commissioner of the bank) with 5.19%, the Islamic Development Bank (IsDB) with 2.04% shares, and others (10.11%). The bank announced the plan for the company to be listed in the

Indonesia Stock Exchange Indonesia Stock Exchange (IDX) ( (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In rece ...

by late 2023.

Network

To date, the Bank has 239 service offices and also supported by an extensive service network consisting of 568 Muamalat ATM units, 120,000 ATM Bersama and Prima ATM networks, 51 Mobile Cash Car units.

Management

Sharia Supervisory Board

Board of Commissioners

Board of Directors

External links

Official website www.bankmuamalat.co.id

References

{{Authority control Banks of Indonesia

Muamalat ''Muamalat'' (also ''muʿāmalāt,'' , literally "transactions" TBE, "CHAPTER A1, INTRODUCTION TO ISLAMIC MUAMALAT", 2012: p.6 or "dealings") is a part of Islamic jurisprudence, or ''fiqh''. Sources agree that ''muamalat'' includes Islamic "rul ...

Banks established in 1991 Indonesian companies established in 1991