PT Bank Muamalat Indonesia Tbk was established in 24 Rabiul Tsani 1412 H or November 1, 1991, endorsed by the Indonesian Council of Ulemas (MUI) and the Government of Indonesia, and commenced operations in 27 Syawwal 1412 H or May 1, 1992. Supported by the Indonesian Association of Moslem Intellectuals (ICMI) and a group of Moslem entrepreneurs, the founding of Bank Muamalat also won the support
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