Bank Islam still eyes expansion in Indonesia

Bank Islam Malaysia Bhd (BIMB) is still eyeing for opportunities to
expand in Indonesia, preferably via a strategic tie-ups with bigger
network rather than on acquiring a smaller bank.



Its managing director, Datuk Seri Zukri Samat, said BIMB was
currently in preliminary discussion with shareholders. "We still harbour
the intention to go to Indonesia. "The process will take time because
there are so many parties involved.



"We hope to see it happen as soon as possible," he told a media
briefing after signing a memorandum of understanding (MOU) with Koperasi
Pembiayaan Syariah Angkasa Bhd (Kopsya) here today.



He said BIMB was also looking for opportunities in Bangladesh but the plan for Indonesia was more advanced.







On its third initial public offering (IPO), Zukri said, the bank has
received the Securities Commission's (SC) nod and was waiting for the
right time for the launch.



BIMB is the only commercial bank approved by the SC to act as
principal adviser to undertake corporate finance work such as IPOs and
advisory services for mergers and acquisitions.



Under the MOU with Kopsya, BIMB will extend its entire range of

syariah-based financial services to the latter, giving it access to the latest banking products and facilities.



They include the provision of corporate investment banking, treasury and cash management services.



BIMB will make available the deposit service to Kopsya's account via
counter services at all BIMB branches nationwide, cash deposit
machines, standing instructions, Internet banking and mobile banking.



The bank will embark on the modernisation of Kopsya payment
management via e-commerce and terminal. Both parties will build a
platform to create a co-branded credit and debit card. -- Bernama