Indonesian bank to offer public shares in its Islamic finance arm
BRISyariah looking for ways to cope with fast-growing deposits from customers saving up for pilgrimages
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Jakarta
ONE of Indonesia's largest banks said it would sell shares to the public this month in its Islamic finance division - in part because it would help the lender cope with fast accumulating piles of money from customers eager to save for pilgrimages.
BRISyariah, a subsidy of state owned Bank Rakyat Indonesia (BRI), says its customers are ploughing an estimated 2 trillion rupiah (S$184 million) into savings accounts earmarked forhajj pilgrimages to Mecca.
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