Name of borrower: PT Permodalan Nasional Madani
Amount: Rp1 trillion
Tenor: Unspecified
Underwriter: Maybank UUS
Date: July 2023
Permodalan Nasional Madani’s Rp1 trillion ($61 million) shariah financing is the best Islamic local-currency deal in Indonesia.
Maybank UUS acted as the lender in this transaction, with funds specifically allocated to support underprivileged female entrepreneurs engaged in the household-scale and ultra-micro businesses sector.
Funds were channelled through the borrower’s Mekaar Syariah programme dedicated to supporting underprivileged individuals in the country.
This deal was Maybank UUS’s first venture into social financing and was the largest bilateral, shariah sustainability facility for the bank to date.