Minister Qoumas lauds launch of Indonesia Sharia Bank

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Minister Qoumas lauds launch of Indonesia Sharia Bank

Religious Affairs Minister Yaqut Cholil Qoumas has lauded the launch of the Indonesia Sharia Bank (BSI), saying he expects the bank would spur the growth of the Islamic banking industry in Indonesia.

“Hopefully, we can achieve the Indonesia Sharia Bank that is united to bring benefits and to become a blessing for a united Indonesia,” Yaqut told reporters in Jakarta on Tuesday.

He said he is happy with the birth of the BSI as the Ministry of Religion is one of the stakeholders of Islamic banking.

The minister also said he hopes the BSI can strengthen professionalism in services and provide added value to the Islamic banking industry.

The minister’s statement echoes the expectation expressed by President Joko Widodo, who has said he hopes the BSI would contribute to the development of the Sharia economy and help the people of Indonesia prosper.

“The Indonesia Sharia Bank must truly become a universal Islamic bank, meaning that it must be open, must be inclusive, must welcome anyone who wants to become a customer in order to reach more people in the country,” he stressed.

“So do not think that the Indonesia Sharia Bank is only for Muslims, non-Muslims should also be accepted to become customers of the Indonesia Sharia Bank,” he added.

President Widodo had on Monday inaugurated PT Bank Syariah Indonesia Tbk, which has been merged from three state-owned sharia banks — PT Bank BRI Syariah Tbk, PT Bank Syariah Mandiri, and PT Bank BNI Syariah.

The inauguration, which took place at the State Palace, was well-received by the market, with the Indonesian Stock Exchange (IDX) Composite Stock Price Index (IHSG) surging at the start of the new week.

The newly formed entity, Bank Sharia Indonesia (BSI), will be one of the largest sharia banks in Indonesia and the world, with total assets of Rp214 trillion and core capital of Rp20.4 trillion.

On Monday, the JCI was up 205.19 points, or 3.5 percent, at 6,067.55 at close of trade. Meanwhile, the index of 45 leading stocks, or the LQ45 Index, rose 35.32 points, or 3.87 percent, to 947.3.

The JCI was already oversold after seven consecutive days of correction so the index bounced off its support area, Foster Asset Management analyst Hans Mulyadi Irawan said here on Monday.

“Today it strengthened in almost all sectors, especially SOE stocks in the mining, banking, and construction sectors, which have been oversold and have experienced consecutive decreases. Today, the sentiment is the effective operation of Bank Syariah Indonesia (BRIS), SWF, and data. The improving Indonesian manufacturing index has also been the trigger for a stronger index, ” he observed.

The merger of sharia banks, subsidiaries of state-owned lenders, is also expected to propel the development of the halal value chain in the country.

Source: antaranews | 3 Feb 2021

Minister Qoumas lauds launch of Indonesia Sharia Bank