Bank Muamalat
Indonesia (BMI) is a
commercial bank in Indonesia operating on the principles of
Islamic banking
Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economic ...
. The bank was founded in 1991, based on the initiative of the
Indonesian Council of Ulamas
Indonesian Ulema Council ( id, Majelis Ulama Indonesia, ar, مجلس العلماء الإندونيسي, abbreviated MUI) is Indonesia's top Islamic scholars body. MUI was founded in Jakarta on July 26, 1975 during the New Order era. The council ...
(MUI) and under the auspices of the
Government of Indonesia
The term Government of Indonesia ( id, Pemerintah Indonesia) can have a number of different meanings. At its widest, it can refer collectively to the three traditional branches of government – the executive branch, legislative branch and ju ...
. Operations began in 1992.
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 a government agency
Hajj Fund Management Agency
The Hajj (; ar, حَجّ '; sometimes also spelled Hadj, Hadji or Haj in English) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims. Hajj is a mandatory religious duty for Muslims that must be carried o ...
(BPKH), followed by Andre Mirza Hartawan (commissioner of the bank, 5.19%) and the public (12.16%).
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. The bank has also opened branches abroad, in
Kuala Lumpur,
Malaysia.
External links
Official website
References
{{Authority control
Banks of Indonesia
Islamic banks of Indonesia
Banks established in 1991
Indonesian companies established in 1991
Global Alliance for Banking on Values