BSI Data Hacking Is Considered To Be Increasingly Emphasizing The Need For Large Sharia Banks Apart From BSI

JAKARTA - Sharia Institute for Development of Economics and Finance (INDEF) researcher said the case of hacking data at PT Bank Syariah Indonesia Tbk (BSI) which occurred in the first half of this year was a valuable reminder of the need for other Islamic banks with capital equivalent to BSI. Other large capital Islamic banks are expected to compete to provide the best sharia banking services and products for customers.

Fauziah added that the incident that happened to BSI in early 2023 was a valuable lesson that the Islamic banking industry in Indonesia needed big players whose capital was equivalent to BSI.

"In terms of supply, this will create healthy competition because the players are trying to compete to give the best for customers from various sides, products, and services," said Fauziah when contacted by reporters, Friday, August 11.

Fauziah added that the existence of a large Islamic bank equivalent to BSI will also have an impact in terms of demand. The reason is, customers will also have various options so that they can make comparisons from various sides, ranging from facilities, prices, accessibility, and so on.

"The big sharia bank must be able to compete and assist BSI, which is currently the only Islamic bank in the top 10 of the national largest bank," said Fauziah.

Fauziah recommends 3 ways for the Islamic banking industry to have a strong capital bank such as BSI. First, UUS spin-offs to become a Sharia Commercial Bank (BUS). Then, the BUS implements a capital strengthening strategy so that it can become a Bank Group BUS based on Core Capital (KBMI) 3.

Second, several consolidated UUSs and become 1 BUS with KBMI 3 or KBMI 4. Third, several BUSes with KBMI 1 and/or KBMI 2 consolidated to 1 BUS with KBMI 3 or even KBMI 4 which can compete with BSI.

Previously, OJK Banking Supervision Chief Executive Dian Ediana Raw said OJK wanted large Islamic banks in the same class as BSI. According to him, OJK does not want only BSI to be the only Islamic bank in Indonesia because it is not healthy.