Merged Sharia Bank Takes Shape

By Editorial Team 22/10/2020
Merger
Summary

The merger process of the state-owned Islamic banks is stepping into the next stage. After officially signing the Conditional Merger Agreement (CMA), the government released a merger scheme for the three Islamic state-owned banks, consisting of PT BRI Syariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM), and PT BNI Syariah. Based on the summary of the merger plan published on Wednesday (10/21), BRI Syariah would be the surviving entity due to its status as a public company.

In the future, Hery Gunardi will assume the position of Bank Syariah Mandiri (BSM) CEO before the bank completes a legal merger with BNI Syariah and BRI Syariah. Furthermore, the State-Owned Ministry also assigns Hery to chair the merger agency or Integration Merger Office (IMO). "I have started my duty to oversee the merger from March 2020," Hery revealed. Previously, Hery served as the chairman of the integrated Project Management Office (PMO) and deputy president director of Bank Mandiri at the same time.

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