Sharia Spin-Off Policy Nears Completion, Bank to Hasten Plans

As the release of OJK Regulation on sharia business unit spin-off approaches, how ready are the banking industry to let go of their sharia businesses into becoming sharia public banks (BUS)?

Emanuel Berkah Caesario

30 Jun 2023 - 00.48
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Sharia Spin-Off Policy Nears Completion, Bank to Hasten Plans

An employee is having activities in the Financial Services Authority Office./Bisnis-Abdullah Azzam.

Bisnis, JAKARTA — The release of the regulation regarding the spin-off of sharia business units from the banking industry is imminent, following the conclusion of consultative discussions between the Financial Services Authority (OJK) and the House of Representatives (DPR).

While refusing to disclose specific details about the regulation, the OJK is optimistic that it will be the most effective approach to promote the development of the sharia financial industry in Indonesia.

Dian Ediana Rae, Chief Executive of OJK's Banking Supervision, stated that the OJK has consulted with the DPR's Commission XI on Tuesday (6/27/2023) regarding all the provisions for the spin-off of sharia businesses from banks and non-bank financial institutions.

"It was a closed hearing, and the information cannot be made public until the OJK Regulation is released," Dian told Bisnis on Wednesday (6/28/2023).

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.