Price disagreement prompts IDB to postpone selling Muamalat shares

The Islamic Development Bank officially informed  Bank Indonesia of its postponement in selling its shares of PT Bank Muamalat Tbk.

BI Islamic Banking Directorate director Mulya E. Siregar said that the postponement was due to a disagreement between IDB and potential investors over the stock price.

“No one has declared their interest in buying Bank Muamalat stocks, most likely because the IDB and the potential buyers have not agreed on the price yet,” Mulya said as quoted by detikfinance.com.

The three majority Bank Muamalat shareholders, namely Boubyan Bank Kuwait, Saudi Arabian Atwill Holdings Limited and IDB, have reportedly planned to sell their shares in Bank Muamalat.

Mulya cited Standard Chartered Bank, OCBC, Saratoga, Qatar Islamic Bank, PT Bank Mandiri Tbk, Para Group and Overseas Chinese Banking as among the investors who had expressed interest in acquiring the bank.