Vice President Ma'ruf Amin Asks BSI To Become A State-Owned Bank

Vice President Ma'ruf Amin with SOE Minister Erick Thohir and the Board of Directors of Bank Syariah Indonesia. (Photo: Doc. Antara)

JAKARTA - Vice President (Wapres) Ma'ruf Amin will turn PT Bank Syariah Indonesia Tbk (BRIS) into a state-owned bank. As is known, currently the largest Islamic bank in Indonesia is still a subsidiary of Bank Mandiri (BMRI), BNI (BBNI), and BRI (BBRI).

Ma'ruf explained that after merging BRI Syariah, BNI Syariah, and Bank Syariah Mandiri into BSI, the government plans to further grow it by including state capital through series A Dwiwarna shares. He requested that the Dwiwarna share participation process be carried out in accordance with the applicable laws and regulations with supervision carried out by the Financial and Development Supervisory Agency (BPKP).

"I ask that it be carried out carefully in accordance with existing regulations. What has been planned by the Ministry of SOEs can be executed properly, with supervision from BPKP," he said while chairing a state equity participation meeting, quoted in a press statement, Friday, February 25.

Ma'ruf also reminded that the effort to invest in state capital would not interfere with capital and harm the position of BSI's Controlling Shareholder (PSP). This is because the three banks are public companies.

"From a business strategy perspective, this option must benefit the company and bring benefits to the country and society," he explained.

The vice president said that in order to grow BSI, direct state ownership was needed.

"The state will have special rights to approve amendments to the articles of association, appoint and pay attention to the board [of directors], and also monitor further developments," he said.

Previously, SOE Minister Erick Thohir reported that the SOE Ministry would accelerate state capital participation through Dwiwarna shares in BSI in the third quarter of this year. Not only that, BSI will also attract BTN Syariah units to strengthen its position and enlarge its market capacity. In the future, BSI is expected to be able to increase the productivity of the Indonesian halal industry, which is currently not yet in the top five in the world.