The jury is out on whether a group helmed by President Joko Widodo can revive stalled growth in Indonesia’s Islamic finance industry.
A plan to create an Islamic megabank by merging the Shariah units of PT Bank Mandiri, PT Bank Negara Indonesia, PT Bank Rakyat Indonesia and PT Bank Tabungan Negara has also been pushed back, with various officials touting different target dates to achieve it.
Financial Services Authority Director Dhani Gunawan Idat said last month that such an entity will be established in 2017.
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Islamic Investment Malaysia: www.islamic-invest-malaysia.com