Erick Thohir Plans to Make Bank Muamalat and BTN Syariah the Largest Sharia Banks in Indonesia

KOMPAS.com – Minister of State-Owned Enterprises (BUMN) Erick Thohir plans to make Bank Muamalat and BTN Syariah the largest sharia banks in Indonesia.

“We are discussing with BPKH, the Minister of Religion, maybe we should synergize with Bank Muamalat and BTN Syariah to make it an alternative to large Islamic banks,” said Erick, quoted from Antara, Wednesday (20/12/2023).

Erick said that the merger of Bank Muamalat and BTN Syariah is expected to be able to enter the top 16 sharia banks in the world and even compete with Bank Syariah Indonesia (BSI).

BSI itself currently occupies the fifth position in the largest sharia bank in the world, where previously it was in seventh place.

Also read: Vale Share Negotiations, Erick Thohir: The Price Must Be Fair

Furthermore, according to Erick, currently sharia finance is an attractive banking business.

“Sharia finance is interesting at the moment. It is in the process of being discussed, if it goes well in March 2024,” said Erick.

It is known that the President Director of PT Bank Tabungan Negara Tbk (BBTN) Nixon LP Napitupulu said that the company’s sharia business unit (UUS) after the spin off action will become a Sharia Commercial Bank (BUS) with the second largest assets in Indonesia.

His party will remove the UUS from the parent BTN and combine it with the sharia bank that will be acquired, with a target of completion in the second semester of 2024.

Nixon explained that currently BTN is in the stage of submitting letters of interest (LOI) to two sharia banks in the country for acquisition, the names or value of whose assets cannot be stated yet.

Later, the existing UUS BTN will be merged with the acquired sharia bank, with the target of completing the process in April or June 2024.

Also read: Erick Thohir targets the merger of AP I and AP II to be completed in February 2024

Get selected news updates and breaking news every day from Kompas.com. Let’s join the Telegram Group “Kompas.com News Update”, by clicking the link https://t.me/kompascomupdate, then join. You must install the Telegram application first on your cellphone.

2023-12-19 20:02:00
#Erick #Thohir #Reveals #Plans #Merge #Bank #Muamalat #BTN #Syariah #Kompas.com