Bank Muamalat
Bank Muamalat Indonesia, ''', is a commercial bank in Indonesia. It operates according to the principles of Islamic banking. Bank Muamalat serves nearly 3,000,000 customers throughout Indonesia and Malaysia.
History
The bank was founded on 1 November 1991, based on the initiative of the Indonesian Council of Ulamas, under the auspices of the Government of Indonesia. Operations began on 1 May 1992. Foreign [currency exchange|Foreign exchange service] began in 1994.Principles
Funding products apply the principles of wadiah and mudarabah. Financing products apply the principles of bai’, musharakah, mudarabah, and ijarah.Ownership
Currently, 82.65% stake of Bank Muamalat is owned by an Indonesian government agency, Hajj [Fund Management Agency], Andre Mirza Hartawan with 5.19%, the Islamic [Development Bank] with 2.04% shares, and others.In 2022 the bank announced plans to be listed in the Indonesia Stock Exchange by late 2023.