Jokowi Inaugurates Bank Syariah Indonesia

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Markus Wisnu Murti

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  • Bank Syariah Indonesia. ANTARA

    Bank Syariah Indonesia. ANTARA

    TEMPO.CO, JakartaPresident Joko "Jokowi" Widodo today, February 1, inaugurated state-owned sharia bank Bank Syariah Indonesia at the State Palace.

    In a virtual press conference, he considered today as a historic day for the development of the country's sharia economy. He opined that Indonesia had long been renowned as the country with the largest Muslim population in the world.

    “So it is only reasonable for Indonesia to become one of the leading countries in terms of sharia economic development,” he remarked.

    The country’s largest sharia bank is the merger of three state-owned banks or Himbara, namely PT Bank BRIsyariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM) and PT Bank BNI Syariah (BNIS).

    The merger process was inaugurated after the Financial Services Authority (OJK) issued an approval for the corporate action and its operations would be effective beginning February 1, 2021.

    As of December 2020, the three banks had total assets of Rp240 trillion, financing assets of Rp157 trillion, and third-party funds (DPK) of Rp210 trillion, and a total core capital of Rp22.6 trillion.

    Bank Syariah Indonesia, therefore, ranked seventh on the list of biggest banks in Indonesia based on total assets.

    Read: Sharia Economy Highly Resistant to Crises, Economist Says

    MUHAMMAD HENDARTYO