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Jakarta Post

Government plans merger of state-owned Islamic banks

  • Moch. Fiqih Prawira Adjie

    Jakarta

Jakarta   /   Tue, August 11 2020   /  01:00 am
An employee arranges banknotes at Bank Syariah Mandiri in Malang, East Java, on May 18, 2020.(Antara/Ari Bowo Sucipto)

Vice President Ma'ruf Amin has said the government is mulling merging several state-owned Islamic banks – banks that offer services that are sharia-compliant – to unify their power and boost their global rating. The state-owned Islamic banks in talks to be merged are PT Bank BRI Syariah, a subsidiary of Bank BRI, PT Bank Syariah Mandiri, a subsidiary of Bank Mandiri, and PT Bank BNI Syariah, a subsidiary of Bank BNI. The Vice President, who previously chaired the Indonesian Ulema Council (MUI), expressed hope the merger would also boost the national economy and speed up the economic recovery amid the COVID-19 pandemic. "[The banks] have been in talks to strengthen [Islamic banks] because we don't have a large Islamic bank that ranks in the top 20 internationally," Ma'ruf said Thursday during a discussion hosted by news publication Media...