Bank Muamalat Targets Retail Sukuk Sales (SR) 011 Up 50%

Jakarta, March 8, 2019 - PT Bank Muamalat Indonesia Tbk. re-appointed by the government as the Retail Sukuk (SR) distribution partner in 011 in 2019. The company targets a 50% increase in sukuk sales from the previous year.

Bank Muamalat Chief Executive Officer (CEO) Achmad K. Permana said, the company prepared a number of strategies so that the SR-011 sales could run optimally. Among them by holding special programs for customers and maximizing the empowerment of marketing personnel in branch offices.

"We are optimistic that we can market the SR-011 at least 50% up from the previous SR-010 sales," he said.

Permana explained, with the appointment of Bank Muamalat as a retail sukuk distribution partner, customers would have access to invest in the capital market. In addition, Bank Muamalat's fee-based income will increase which comes from the primary market commission and the secondary market.

This investment instrument was issued with a fixed rate of return of 8.05% per year with a tenor of 3 years. The offer period lasts from March 1, 2019 to March 21, 2019. The due date is March 10, 2022.

The minimum order for SR-011 is Rp1 million and multiples thereof with a maximum purchase of Rp3 billion. This Retail Sukuk is scripless and can be traded on the secondary market after two reward periods, namely on June 11, 2019. The date of payment of compensation is made on the 10th of each month and the first reward will be distributed on May 10, 2019.

SR-011 is offered with the Ijarah Asset To Be Leased contract in accordance with DSN-MUI fatwa No. 75 of 2010. The underlying asset of this instrument is the 2019 State Budget project and state property in the form of land and buildings.

Bank Muamalat Targets Retail Sukuk Sales (SR) 011 Up 50%

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