IDB to postpone selling Muamalat shares

JAKARTA: The Islamic Development Bank (IDB) officially submitted a letter to Bank Indonesia (BI) last week stating that it would postpone selling its shares of PT Bank Muamalat Tbk, a central bank official says.

BI Islamic Banking Directorate director Mulya E. Siregar said Friday that the postponement was due to a disagreement between IDB and potential investors over the stock price.

“No one has declared their interest in buying Bank Muamalat stocks, most likely because the IDB and the potential buyers have not agreed on the price yet,” Mulya said as quoted by

The three majority Bank Muamalat shareholders, namely Boubyan Bank Kuwait, Saudi Arabian Atwill Holdings Limited and IDB, have reportedly planned to sell their shares in Bank Muamalat. Continue reading