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Bank Muamalat Indonesia to list on local bourse

PT Bank Muamalat Indonesia Tbk plans to launch an IPO on the Indonesia Stock Exchange within three to five years, IDNFinancials reported July 3, citing President Director Achmad Permana.

Among other benefits, the listing will allow the company, which has a presence in Malaysia, to access long-term funding facilities, Permana said.

The plan, which is part of the Islamic bank's medium-term strategy, will largely depend on market conditions in the next few years.