| [Bloomberg]Indonesia’s Foreign Ministry and entral bank are seeking investment from the Persian Gulf to meet its target of increasing Shariah-compliant banking assets by 35 pct this year. The delegation may meet officials in the Middle East as soon as this month, with Saudi Arabia and Kuwait the most likely destinations, the Jakarta-based director of Islamic services at Bank Indonesia said. Policy makers estimate the industry will grow to 135 trillion rupiah ($15.8 billion) in 2011, from 100.3 trillion rupiah at the end of last year. Indonesia, which has the world’s biggest Muslim population, wants to increase its Islamic assets that are about 10 pct the size of Malaysia’s, according to central bank data. Albaraka Banking Group BSC, Bahrain’s biggest publicly traded bank, reiterated yesterday it was looking to make an acquisition in Indonesia and may invest $100 million in the country. |
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