In 2011 the Indonesian economy grew by an estimated 6.5%, compared with a growth rate of 6.1% in 2010. The current account surplus was estimated to be standing at 0.4% of GDP (0.8% in 2010). The rate of inflation was slightly better at 5.3% as compared with 2010's 5.7%. The Indonesian government's policy in recent years has been one of encouragement of Islamic banking in the country, with a long term target of increasing Islamic banking assets to 5% of total banking assets. Due to the favourable regulatory environment, the growing economy and having the largest Muslim population in the world, Indonesia offers a very attractive operating environment for Islamic banks. ABG's representative office serves as a base for the Group to conduct research on local banks and their potential for acquisition and for assessing the business potential of the country from the Group's perspective. The representative office is also responsible for maintaining contact with regulators and major banking groups in Indonesia and for preserving the image and brand value of the Group. With trade flows between Indonesia and many of the countries where the Group operates growing rapidly, the Indonesia Representative Office pro-actively identifies business opportunities and generates leads that are directed towards ABG subsidiaries.
Ms. Nurul Bariah Chief Representative Al Baraka Banking Group, Representative Office, Indonesia Ravindo Building, 10th Floor, Jalan Kebon Sirih No. 75, Jakarta Pusat 10340, Indonesia Tel: +62 21 316 1345 Fax: +62 21 316 1074 Website: www.albaraka.com
About Al Baraka
Al Baraka Islamic Bank - Bahrain (AIB - Bahrain) established 1984 in Bahrain and up the years has pioneered the development of Isl... read more>>
Current Accounts: On demand accounts are not entitled to receive profits but do not bear any loss either. They are designed speci... read more>>
Commercial & Corporate
Murabaha is an Islamic form of asset financing and has a fixed term and a pre-determined profit. In a Murabaha the bank buys a spe... read more>>