BANK MUAMALAT INDONESIA GETS “AA” SHARIA QUALITY RATING Bank Muamalat Indonesia (BMI) has been assigned AA Sharia Quality Rating by Bahrain’s based Islamic International Rating Agency (IIRA). According to a press release issued by IIRA, the rating reflects the Agency’s assessment that BMI conforms to a very high level of standards of Shari’a compliance in all aspects of Shari’a quality analysis. The announcement of the rating was made in London on 4th February 2008 by Chief Executive Officer (CEO) of IIRA Mr. Jamal Abbas Zaidi during a briefing session of International Islamic Financial Market (IIFM). The Indonesian delegates attending the briefing were BMI’s President Director, A. Riawan Amin, President Yudhoyono’s Special Envoy for the Middle East, Dr. Alwi Shihab; Deputy Governor of Bank Indonesia and Director of IIFM, Siti Ch. Fadjrijah; and the Chargé d’Affairés of the Indonesian Embassy in London, Dewa Made J. Sastrawan. The rating is expected to lead BMI closer to its vision as a role model of Worldwide Islamic Bank, which was initiated by Indonesian Council of Ulama (Majelis Ulama Indonesia) and approved by the Government of the Republic of Indonesia. BMI’s Shari’a board consists of prominent Shari’a scholars who are well known within the Islamic financial industry in Indonesia. They possess advanced qualifications and years of experience in the Islamic and financial industry. They regularly meet to approve all new products and schemes and to give opinion on any issues arising on previously approved schemes. The BMI has enjoyed high reputations and acknowledged not only by the Indonesian Islamic Banking Industry but also by International Institutions. Its President Director, Mr. Riawan Amin is also the Director of General Council for Islamic Banks and Financial Institutions (CIBAFI), Bahrain. He is also a Director of IIFM, Bahrain and Chairman of Indonesian Sharia Bank Association (ASBISINDO). Notes:
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