Maybank launches Syariah bank in Indonesia - Maybank Syariah Indonesia part of Group's aspiration to extend its Islamic banking operations regionally

PT Bank Maybank Indocorp (BMI) was today officially renamed as Maybank Syariah Indonesia (MSI), having converted to a full fledged Islamic bank in Indonesia in October 2010.

BMI which has been operating in Indonesia since 1994, received approval from the central bank of Indonesia on 23 September 2010 to convert its operations into an Islamic bank. It has in the past, been operating mainly in wholesale banking offering corporate banking, trade finance and treasury services to a wide range of corporate client. In addition the bank offered niche retail banking services through its office in Jakarta.

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