Arqaam of Dubai to Help Indonesian Banks Find Gulf Investors

Arqaam Capital Ltd., a Dubai-based investment bank, wants to help other Indonesian lenders find investors in the Gulf Arab region after advising PT Bank Kesawan on the sale of a stake in itself to Qatar National Bank SAQ.

“There is active interest from a number” of mid-tier Indonesian banks to do deals such as the Qatar National Bank investment, Tamer Nazih Makary, Arqaam’s executive director, said in an interview in Dubai yesterday. About “four to five conventional banks, and two to three Islamic banks” may be looking to sell stakes to help raise money for growth, he said.