Dear Customers, All Previous Banking Products Remain Valid Post-Merger Of Indonesian Sharia Banks

Illustration of Islamic bank customers. (Photo: BSM)

JAKARTA - The merger of three state sharia banks into PT Bank Syariah Indonesia raises its own questions regarding the status and fate of customers, mainly related to savings. However, PT Bank BRI Syariah Tbk. as the business entity leading the merger, conveyed to the public that all financial activities are guaranteed by the company.

"Customers can still carry out activities and financial transactions as usual. Customer funds are kept safe and guaranteed, ”said BRI Syariah press release on Tuesday, February 2, 2020.

In the release, it was also explained that all banking activities were running normally as usual and were not affected by this merger.

"All operations and services for customers run as usual and remain optimal," said BRI Syariah.

Regarding the migration of transactions at the other two banks, it will be informed again if there are operational changes.

"You will be a priority and all of your funds and data will remain safe and guaranteed in accordance with applicable regulations," wrote the statement.

"Customers do not need to replace debit cards, passbooks on the effective date of the merger. Items will be replaced gradually. All debit cards from the three banks currently have can still be used," the release concluded.

For information, Bank Syariah Indonesia is a financial institution resulting from the merger of PT Bank Rakyat Indonesia Syariah Tbk (BRIS), PT Bank Syariah Mandiri (BSM), and PT Bank Negara Indonesia Syariah (BNI Syariah) and is predicted to become the largest Islamic bank in the country.

Meanwhile, in terms of share ownership, Bank Mandiri controlled 51.2 percent. Followed by BNI at 25 percent, and BRI with 17.4 percent. Meanwhile, public investors control 4.4 percent and DPLK BRI-Sharia shares as much as 2 percent.