Bank Syariah Indonesia to Expand Operations into Other Countries Within Five Years

Erick Thohir, Indonesia’s State-Owned Enterprises Minister stated the hope that Bank Syariah Indonesia (BSI) would expand its operations in other countries, such as Saudi Arabia and the United Arab Emirates within the next five years.

Why it Matters?

Expansion of operations of BSI would enable Indonesia’s Islamic banks to have a global presence, Thohir said adding that BSI is among the top 10 banks in the country. He noted that as reported currently, the growth of Islamic funding is greater than conventional banks, which confirms that BSI could also function as an alternative route to Islamic finance. Meanwhile, BSI has been awarded the ‘best bank in the Islamic banking sector’ in the 2021 Bisnis Indonesia Awards. Hery Gunardi,...