Bank Syariah Mandiri and Mandiri Utama Finance Join Hands to Expand Shariah Service Offering

Bank Syariah Mandiri (Mandiri Syariah) and Mandiri Utama Finance (MUF) have signed a joint financing agreement to form a collaboration between both the Bank Mandiri subsidiaries. The agreement is concerned with the distribution of financing, optimisation of the customer base, as well as the expansion of MUF’s marketing network.

Ade Cahyo Nugroho, Mandiri Syariah’s Director of Finance, Strategy and Treasury, stated in a press release that the collaboration would allow the companies to further penetrate the Islamic finance market, by supporting business growth and capitalising on the core competencies of both organisations.

According to the media report, the collaboration will also resul...