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Mr Arviyan Arifin

Our vision is to become the premier shariah bank in Indonesia, dominant in the spiritual market, admired in the rational market. Our mission is to become a role model among the world’s shariah financial institutions, emphasizing in entrepreneurial spirit, managerial excellence, and innovative investment orientation to maximize value to stakeholders.

As of 31st December 2010, the bank’s assets reach 21.4 trillion RP. While Indonesia’s total Islamic banking assets are 97.5 trillion RP, thus our share in the Islamic banking industry is around 22%.

To realize its vision and mission, Bank Muamalat continuously develops new products and services to increase its competitiveness in line with the community’s needs. Simultaneously, we also extend services by opening new outlets to the various regions. Now the bank has about 400 offices across Indonesia.

We have also expanded overseas and are the only Indonesian Bank operating a full branch in Malaysia. Aside from remittances, the branch in Malaysia also provides other primary banking service such as funding and financing. In the future, we will continue to extend our service regionally and globally such as to Jeddah in Saudi Arabia and Hong Kong.

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Mr Arviyan Arifin

The growth of Islamic banking is much faster compared to that of conventional banking today. Referring to the data from Bank Indonesia, assets of Islamic banking industry grew 47.55% in 2010, while conventional banks grew only about 18.73% last year. Nevertheless, this growth needs to be accelerated to obtain a proper market share. The expansion of Islamic banking must be followed by adequate public understanding of Islamic economics and finance. The perception that Islamic banks do not have any additional value compared to conventional banks has deterred the public from using an Islamic bank. Many people still consider Islamic banking products are only a variety of conventional banking products, and are not conscious of the fact that Islamic banking can contribute to constructing a stronger and more equitable economy.

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Mr Arviyan Arifin

To support international trade transactions, Bank Muamalat is one of only two Indonesian banks listed by the Asian Development Bank (ADB) in its Trade Facilitation Program (TFP).

No one can deny that Islamic finance is growing globally, and quite exponentially. International exposure has become a necessity to not only strengthen our management capacity through experience, but also to expand our network and to increase the bottom line.

Among the bank’s most recent exploits is providing a Murabaha financing facility amounting to $14 million USD for PT. Indo TH Plantation, a subsidiary of Tabung Haji Malaysia. Previously, we had also forged an alliance with the Malaysia based Asian Finance Bank and Qatar Islamic Bank for the promotion of Islamic Liquidity Funds. Earlier in 2010, Bank Muamalat also developed cooperation with Elaf Bank of Bahrain for a wakalah interbank arrangement.

The three components that the bank is going to further explore in the future are more remittance services, more trade financing products and more internationally syndicated financing projects. The bank is strategically positioned to be the bridge between international players and Indonesia’s enormous population, market and resources. We welcome any foreign counterpart who wants to further explore Indonesian opportunities.