The Merger of State-Owned Islamic Banks Officially Begins

By Editorial Team 13/10/2020
Islamic Banking
Summary

The state-owned Islamic banks’ merger process officially began, confirmed by a video circulating on Monday night (12/10). In the video, the State-Owned Enterprises (BUMN) Minister, Erick Thohir, said that the government had signed a conditional merger agreement between the three Islamic banks: PT BRI Syariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM), and PT BNI Syariah.

“With the largest Muslim population in the world, Indonesia must have a strong Islamic bank. The merger of these three state-owned sharia banks allows us to become the center of the sharia finance in the world,” Erick explained in a video titled SOE Minister’s Speech to Integrate and Increase the Value of State-Owned Sharia Banks on Monday night (10/12).

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