The Tug of War of BSI Status

By Editorial Team 26/09/2022
Bulb and money
Summary

PT Bank Syariah Indonesia Tbk (BSI) is reportedly lobbying the House of Representatives (DPR) to change its status from a subsidiary of a state-owned bank (BUMN) to a state-owned bank. However, SOEs Minister Erick Thohir was reluctant to reveal the government's plans on BSI's status. "BSI already holds red and white [or state-owned] shares," Erick said last week. Currently, the majority of BSI shares are held by PT Bank Mandiri Tbk (BMRI) at 50.83 percent, PT Bank Negara Indonesia Tbk (BNI) at 24.85 percent, and PT Bank Rakyat Indonesia Tbk (BRI) at 17.25 percent, and public shareholders at 7.08 percent.

The idea to upgrade the BSI status came from Vice President Ma'ruf Amin in August 2022 so that the merged Islamic banks could operate globally.

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