Indonesian President Jokowi Inaugurates Country's Largest Shariah Bank

Local media reported that Indonesian President Joko Widodo (Jokowi) launched PT Bank Syariah Indonesia (BSI) at the State Palace on the 1st of February 2021. BSI is a merger of three state-owned sharia banks, namely PT Bank Syariah Mandiri, PT Bank BNI Syariah, and PT Bank BRI Syariah.

On its way to being the country’s largest and amongst the world’s top 10 Shariah banks, BSI accounts for IDR 214 trillion in total assets and IDR 20.4 trillion in core capital.

President Jokowi encouraged BSI to serve a wide range of customers and issued four messages for BSI’s future: (1) to be open and inclusive for all (including non-Muslims); (2) to maximise the use of digital technology; (3) to attract the country’s younger generation, and (4) provide compet...