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IDB unit funds PT Bank Negara Indonesia expansion to Asia

Sat, 2009-05-09 17:11 — IslamicFinance.de

Islamic Corporation for the Development of the Private Sector, a unit of Islamic Development Bank plans to invest as much as USD 500 mn in PT Bank Negara Indonesia’s Shariah- compliant banking unit to help it expand in Asia, specifically Indonesia, Southern Thailand and Malaysia.

The nation’s Shariah-compliant banking assets rose 47 % to 48.4 trillion rupiah (USD 4.6 bn) at the end of 2008, according to Bank Indonesia data.

Source: 

http://www.bloomberg.com/apps/news?pid=20601080&sid=ajB3KIG3GW.c&refer=asia