After Being Annexed By BPKH, Bank Muamalat Wants Rights Issue To Aim For IDR 3.2 Trillion Of Fresh Funds

JAKARTA - It is known that PT Bank Muamalat Indonesia Tbk will continue its corporate actions after the arrival of a new owner, namely the Hajj Financial Management Agency (BPKH), which controls the company.

President Director of Bank Muamalat Achmad K. Permana said that his party would add shares through the Public Company Capital Increase scheme by Providing Pre-emptive Rights (PMHMETD) or rights issue.

In this action, the company is targeted to be able to raise funds of as much as IDR 1.2 trillion which has been approved by shareholders at the Extraordinary General Meeting of Shareholders (EGMS) last August 30.

"Funds obtained from the rights issue will be used to strengthen the capital structure of Bank Muamalat," he said in a press statement, Thursday, November 18.

According to Achmad, this effort aims to develop sharia financing activities which are part of Bank Muamalat's main business activities and other uses that can support the company's business growth.

In addition, Achmad also said that the EGMS had also given its blessing for the issuance of subordinated instruments or sukuk.

"The company proposes to shareholders to approve the company's plan for the issuance of sukuk as much as Rp. 2 trillion," he said.

For information, BPKH entered the company after annexing shares of the Islamic Development Bank (IsDB), Bank Boubyan, National Bank of Kuwait, and SEDCO Group as many as 7,903,112,181 shares equivalent to 77.42 percent through a grant scheme.

Because of this, the Hajj fund management agency was finally able to hold 78.45 percent of Bank Muamalat's shares from the initial 10 percent.