Bank Muamalat on 4th September 2014 launched a new co-branded ATM card in collaboration with the Samarinda School of Islamic Studies (STAIN), as part of an ongoing drive to expand its retail operations. The ATM card is to double as an ID card for STAIN Samarinda students and marks the latest Bank Muamalat initiative to offer tailored products developed through cooperation with local partners. In addition to the co-branded Bank Muamalat ATM card, Bank Muamalat's Samarinda branch has also worked with STAIN Samarinda to provide services related to the payment of student fees, the disbursement of scholarships as well as consumer financing for the educational institution's lecturers.

Attending the launch event on behalf of Bank Muamalat was Mr Adrian A. Gunadi, Retail Banking Director. Touching upon the bank’s plans to reach out to a wider consumer base across Indonesia, Mr Gunadi made reference to a corporate strategy focused on the retail segment. “The expansion of our retail operations is to be supported by the development of a broader network and the launch of new products and services that facilitate the acquisition of new customers. Investment in these areas is a strategic step towards appealing to the mass market,” he said.

Through this type of initiative to deliver products catering to diverse consumer needs, Bank Muamalat expects to see the retail portion of the market account for 60% of its total deposits in the near future, an increase from the current 54%.