INDONESIA: Bank Muamalat Indonesia (BMI) sees high demand for mortgages from retail banking customers next year.
The bank recently signed a MoU with Sarana Multigriya Financial to expand its mortgages, offering IDR100 billion (US$10.96 million)-worth of financing.
For the third quarter of this year, Islamic mortgages accounted for 28%, or IDR3.6 trillion (US$395 million), of BMI’s IDR119.4 trillion (US$13.09 million) retail financing portfolio.