REPUBLIKA.CO.ID, JAKARTA - The first sharia bank in Indonesia, PT Bank Muamalat Tbk decided to postpone their plan to launch Initial Public Offering (IPO). Coorporate Secretary of Bank Muamalat, Meitra Ninanda Sari said the postpone was caused by fluctuative market conditions.

Negative sentiment is caused by uncertainty of fuel price hike and IDR currency's pressure. But, Sari believed the investors still have positive perception of fundamental conditions of Bank Muamalat. The first Islamic bank in Indonedia demonstrates substantial growth in recent years.

"We will proceed in the future when market conditions are more stable and conducive for our investors, on Monday.

PT Bahana Securities and PT CIMB Securities Indonesia will continue to act as underwriters. Bank Muamalat assets have been tripled from 16 trillion IDR in 2009 to 44.9 trillion IDR in 2012.

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