About Muamalat
About Muamalat
Company Profile of Bank Muamalat

PT Bank Muamalat Indonesia Tbk (BMI) ("BMI", "Bank") is Indonesia's first Sharia banking institution. The Company was established based on the Deed of Establishment No. 1 dated November 1, 1991 AD or 24 Rabiul Akhir 1412 Hijriah, made before Yudo Paripurno, SH, Notary, in Jakarta. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia by Decree No. C2-2413. HT.01.01 of 1992 dated March 21, 1992, and registered at the Central Jakarta District Court on March 30, 1992, under No. 970/1992 and published in the State Gazette of the Republic of Indonesia No. 34 dated April 28, 1992, supplement No. 1919A.


The Bank's Articles of Association have been amended several times, with the most recent amendment formulated in Deed No. 21 dated December 09, 2022 before Notary Ashoya Ratam, S.H. M.Kn, and notification of the amendment to the articles of association received and recorded by the Minister of Law and Human Rights of the Republic of Indonesia in accordance with his letter dated December 14, 2022 No. AHU-AH.01.03-0326274.


BMI was founded on the idea of the Indonesian Ulema Council (MUI), the Indonesian Muslim Scholars Association (ICMI), and Muslim entrepreneurs who later received support from the Government of the Republic of Indonesia. The Company commenced operations on May 1, 1992/27 Shawwal 1412 H and the date was also designated as the Company's birthday. The Company obtained permission to operate as a commercial bank based on the Decree of the Minister of Finance of the Republic of Indonesia No. 1223/MK.013/1991 dated November 5, 1991 and Decree of the Minister of Finance of the Republic of Indonesia No. 430/KMK.013/1992 on the Granting of Business License of the Company in Jakarta dated April 24, 1992, as amended by the Decree of the Minister of Finance No. 131/KMK.017/1995 concerning Amendments to the Decree of the Minister of Finance No. 430/KMK.013/1992 concerning the Granting of Business License of the Company dated March 30, 1995 which in its decision permitted the Company to be able to conduct business as a commercial bank based on sharia principles.


Bank Muamalat is a public corporation whose shares are not traded on the Indonesia Stock Exchange (IDX). It has been operating as a Foreign Exchange Bank since October 27, 1994, based on the Decree of the Board of Directors of Bank Indonesia No. 27/76/KEP/DIR concerning the Appointment of PT Bank Muamalat Indonesia as a Foreign Exchange Bank dated October 27, 1994. Based on the Decree of the Minister of Finance No. S-79/MK.03/1995 dated February 6, 1995, the Company was officially appointed as a State Treasury Perception Foreign Exchange Bank.


Based on the Decree of the Minister of Finance No. S-9383/ MK.5/2006 dated December 28, 2006, the Company obtained the Perception Bank status, allowing the Company to receive tax deposits. Then on July 25, 2013, the Company became a participant of the Deposit Insurance Corporation guarantee program as stated in the Deposit Insurance Corporation Letter No. S.617/DPMR/VII/2013 regarding the Participation of Deposit Insurance Corporation. The Company was then designated as the Hajj Deposit Receiving Bank based on the Decree of the Hajj Financial Management Agency No. 4/BPKH.00/2018, dated February 28, 2018.


BMI continues to innovate by introducing new sharia financial products such as Mudharabah Subordinated Sukuk, Sharia Insurance (Takaful Insurance), Pension Fund of Muamalat Financial Institution (DPLK Muamalat), and Sharia Multifinance (Al-Ijarah Indonesia Finance), all of which are breakthrough products in Indonesia. Furthermore, the Bank’s Shar-e, launched in 2004, is the first instant savings in Indonesia.


The Shar-e Gold Debit Visa, launched in 2011, was awarded by the Indonesian Museum of Records (MURI) as the first Sharia Debit Card with chip technology in Indonesia, as well as e-channel services, including internet banking, mobile banking, ATM, and cash management. All of these products pioneering sharia products in Indonesia, marking important milestones in the Islamic banking industry. As the Bank's capacity became larger and gained more recognition, BMI continued to expand its branch office network not only throughout Indonesia, but also overseas. In 2009, the Bank obtained permission to open a branch office in Kuala Lumpur, Malaysia, becaming the first bank in Indonesia and the only one to realize business expansion in Malaysia. To date, the Bank has 239 service offices including 1 (one) branch office in Malaysia. An extensive service network of 568 Muamalat ATM units, 120,000 ATM Bersama and ATM Prima networks, 51 Mobile Cash Cars supports the Bank's operations.


BMI rebranded the Bank's logo to further increase awareness of its image as an Islamic, Modern and Professional Sharia Bank. The Bank also continues to realize various achievements that gained recognition, both nationally and internationally. Today, to provide the best service to its customers, BMI operates with several associates and affiliated companies, namely Al- Ijarah Indonesia Finance (ALIF) which provides sharia financing services, (DPLK Muamalat) which provides pension fund services through the Financial Institution Pension Fund, Muamalat Institute which is an institution that develops, disseminates, and provides education regarding the Islamic economic system to the community, and Baitulmaal Muamalat which provides services to channel Zakat, Infaq and Sadaqah (ZIS) funds.