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2018-10-13

Bank Muamalat Gets the Best Islamic Bank Predicate in Indonesia

Jakarta, October 13, 2018 - PT Bank Muamalat Indonesia Tbk again won the title of the best Islamic bank in Indonesia from Global Finance magazine. The award ceremony held on October 13, 2018 in Bali coincides with the IMF / World Bank Annual Meetings.

Bank Muamalat Retail Business Director Purnomo B. Soetadi said, this award was the eighth time achieved by Bank Muamalat. This shows that the company's reputation and performance are recognized, not only on a national scale, but also internationally.

For information, Global Finance is a leading financial magazine based in New York, United States. Previously, Bank Muamalat won awards in 2009, 2010, 2011, 2012, 2013, 2014 and 2017.

In addition to Bank Muamalat, Global Finance also provides similar awards for Islamic banks in a number of countries. Among them are Al Rajhi Bank as the best Islamic bank in Saudi Arabia. For information, Al Rajhi and Bank Muamalat have collaborated in the provision of Indonesian language menu facilities at ATMs owned by Al Rajhi. Last month, the two companies also signed collaborative remittances from and to Saudi Arabia.
 
                                                                            
 

In the official website of Global Finance explained, the winners of this year's awards are companies that are considered to contribute to the growth of Islamic financing and successfully meet the needs of their customers in accordance with sharia principles. Selected banks are also considered capable of creating a foundation for sustainable growth and security in the future by means of modern and efficient delivery.

All candidates are selected by the Global Finance editorial team through extensive consultations with bankers, corporate finance executives, and analysts around the world. In choosing a winner, the factors considered are quantitative and subjective.

Quantitative criteria include asset growth, profitability, geographical reach, strategic relationships, new business development and innovation in products. Subjective criteria include reputation, customer satisfaction and opinions of analysts and other people involved in the industry.

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