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More private sharia banks to merge, OJK says
The Financial Services Authority (OJK) says three to four private sharia banks will merge and are expected to have competitive assets against Bank Syariah Indonesia (BSI).
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A customer waits at Bank Muamalat's counter for financial services. (Tempo/Dasril Roszandi)
T
he Financial Services Authority (OJK) said that three to four private sharia banks would merge following the planned merger of BTN Syariah and Muamalat Bank, which have been in talks about the move for a long time.
OJK head of banking supervision Dian Ediana Rae said other private banks had also applied for licenses to make spin-off sharia banks.
However, he did not disclose the names.
Dian said the new private sharia bank was expected to have assets at least equal to Bank Syariah Indonesia (BSI) or more, if possible.
BSI's assets as the largest sharia bank reached Rp 353 trillion (US$22,637 million) as of December 2023.
"But it is still in the preliminary stage. This is part of the OJK regulation implementation regarding spin-offs. There are several candidates for a big merger," Dian said on Tuesday, as quoted by kontan.com.
The private sharia bank is expected to have assets of about Rp 200 trillion.
