Continue Previous Partnerships, Bank Muamalat Agrees With Financing Gelontor Of IDR 500 Billion To PNM

JAKARTA PT Bank Muamalat Indonesia Tbk has reached a work agreement with PT Permodalan Nasional Madani (PNM) regarding the distribution of financing of IDR 500 billion.

Bank Muamalat Chief Wholesale Banking Officer Irvan Y. Noor said this capital injection would be used to finance the capital of female ultra-micro business actors through PNM's Mekaar Syariah products.

"The distribution of this financing is agreed to use the Al-Musyarakah contract with a maximum tenor of 12 months," he said in a written statement on Wednesday, November 2.

According to Irvan, the synergy established with State-Owned Enterprises (BUMN) is a continuation of the cooperation that has previously been established since the 2000 period. Irvan explained that PMN had also received financing from the company both bilateral and syndicated forms.

Irvan added that the synergy with PMN is quite strategic in increasing the company's financing portfolio, especially in the corporate segment.

The partnership between Bank Muamalat and PNM has been established for more than two decades both in the form of funding and lending. Therefore, the distribution of this financing is a continuation of the relationship that has been very closely established. Hopefully this will be a good momentum and can continue in a wider business ecosystem," he stressed.

For information, in December 2021, Bank Muamalat also participated in the distribution of sharia syndicated working capital facilities for the purpose of channeling financing to PNM customers through ULaMM and Mekaar Syariah products.

Meanwhile, Bank Muamalat's support for these PNM programs is a form of the company's commitment to advancing micro, small and medium enterprises that have proven to be able to survive in the face of economic turmoil.