MUI and ICMI Promised to Become Bank Muamalat Shareholders

By : Abraham Sihombing And Aldo Bella Putra | Sunday, October 15 2017 - 18:30 IWST

Bank Muamalat (Foto Ist)
Bank Muamalat (Foto Ist)

INDUSTRY.co.id - Jakarta - Lippo Group's plan to buy a majority stake in Bank Muamalat has died after an entrepreneur named Setiawan Ichlas declared himself a 51% shareholder in PT Bank Muamalat Indonesia Tbk.

Setiawan Ichlas who is often called Iwan is the holder of 13.27% stake in PT Minna Padi Investama Sekuritas Tbk (PADI). The reason Iwan bought majority shares of Bank Muamalat is because he supports the struggle of Muslims in Indonesia.

The majority share purchase of Bank Muamalat is conducted by PT Minna Padi Investama Sekuritas Tbk through Rights Issue with Pre-emptive Rights (HMETD) scheme.

If the share takeover process is over, Iwan promised to give the shares of Bank Muamalat to the Indonesian Ulema Council (MUI) and the Indonesian Muslim Intellectuals Association (ICMI) with 2.5% and 1.5% respectively.

"After I received my share of Bank Muamalat, I committed to deliver 2.5% of the shares to MUI and 1.5% to ICMI, one of the founders of Bank Muamalat in 1992," Iwan said in Jakarta on Friday 13/10/2017).

Iwan will give the shares to MUI because MUI is one of the government-recognized institutions to represent Muslims in Indonesia.

Meanwhile, Harry Danardojo, Head of Strategic and Corporate Planning of PADI, said that he will hold several financial institutions to provide fresh funds that will be injected to Bank Muamalat.

Although not explained in detail, Harry said, the financial institution can be either the Pension Fund or through the International Sovereign Fund.

"So, Mr. Iwan sold his shares to a financial institution, the money will be received as a shareholder to be injected into Bank Muamalat with a total value of Rp4, 5 trillion," said Harry. (Abraham Sihombing)

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