The country's first sharia bank, PT Bank Muamalat Indonesia, is studying possible expansion abroad by establishing subsidiaries in Uzbekistan and Kazakhstan.
Bank Muamalat has already discussed the plan with National Bank of Uzbekistan and Kazakhstan Post respectively, to be a partner in the two countries. The two predominantly Muslim Central Asian countries have had no sharia banks until now, Assistant Director of Bank Muamalat Avantiono Hadhiyanto told the newspaper Bisnis Indonesia yesterday.
source: Business in Asia Today | 11 June 2008
Bank Muamalat has already discussed the plan with National Bank of Uzbekistan and Kazakhstan Post respectively, to be a partner in the two countries. The two predominantly Muslim Central Asian countries have had no sharia banks until now, Assistant Director of Bank Muamalat Avantiono Hadhiyanto told the newspaper Bisnis Indonesia yesterday.
source: Business in Asia Today | 11 June 2008
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