These are the requirements for the name of the merger result of the Sharia Bank merger

TEMPO.CO, Jakarta – The government has not yet decided on the official name of the merger result for the BUMN sharia bank, which only started on Monday 12 October 2020 through the signing of the conditional merger agreement or CMA.

The head of the project management office and deputy director of PT Bank Mandiri (Persero) Tbk, Hery Gunardi, said that the government as a shareholder is still thinking about the name of the bank which is predicted to become the largest Islamic bank in the country.

“Of course, because these three banks will be one, we may also want this bank to be able to become international, become global and have strong legs at home,” Hery said on Tuesday, October 13, 2020. According to him, shareholders are likely to think about a name that may have a value proposition that exists in the international world and that is also common in Islamic banking.

“But not yet. Now you’re thinking of a name,” Hery said.

Three banks in the State Bank Association (Himbara), namely PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, and PT Bank Negara Indonesia (Persero) Tbk signed a conditional merger agreement (CMA) regarding the merger of Himbara’s Islamic banks . The three Islamic banks are BRI Syariah, Mandiri Syariah and BNI Syariah.

Through the Ministry of BUMN, the government has merged the three Islamic banks in Himbara so that Indonesia, as the world’s largest Muslim country, can have a large Islamic bank. Not only that, this syariah bank merger is expected to help optimize the economic and economic potential of national sharia and strengthen the ecosystem of the halal industry.

The result of the merger of these banks has the potential to become the top 10 Islamic banks globally in terms of market value. This is also part of the government’s efforts and commitment to make the sharia economy a new pillar of national economic strength, which in the long run will also encourage Indonesia to become one of the centers of Islamic economics and finance in the world.

The merger of the three state-owned sharia banks is scheduled for completion in February 2021. The bank will have a total asset of Rp. 220 trillion to Rp. 250 trillion and is expected to occupy the seventh or eighth position in the top 10 banking sector in Indonesia.

The merged bank will have a range of products ranging from wholesaler, consumer, retail, to MSME and supported by good and reliable technology features. In addition, this Islamic bank has an extensive network of around 1,200 branches spread throughout Indonesia.

In 2025, it is hoped that the total assets of the Islamic Bank can reach IDR 390 trillion. The financing target is forecast to reach around IDR 272 trillion and financing of up to IDR 335 trillion.

Also read: 3 state-owned Sharia banks that have been officially merged, what is the fate of their employees?

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