Withdrawal of Muhammadiyah Funds Threatens BSI’s Liquidity, Triggers Stock Correction

Muhammadiyah’s decision to withdraw a sizeable amount of funds from BSI, aiming to create a healthier competition for sharia banking, is poised to incur liquidity risks for the country’s largest Islamic bank.

Arlina Satiti Mugi Laras

8 Jun 2024 - 17.06
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Withdrawal of Muhammadiyah Funds Threatens BSI’s Liquidity, Triggers Stock Correction

Petugas layanan PT Bank Syariah Indonesia Tbk. sedang melayani transaksi nasabah di Kantor Cabang The Tower. (Foto Bisnis)

Bisnis, JAKARTA — The decision by Indonesia’s prominent Muslim organization Muhammadiyah to withdraw its savings from PT Bank Syariah Indonesia is set to have repercussions on the country’s largest Islamic bank.

A letter from the Muhammadiyah central board regarding financial consolidation within Muhammadiyah's Charitable Enterprises (AUM), dated May 30, 2024, requests the rationalization of savings and financing funds from BSI to other Islamic banks, such as Bank Syariah Bukopin, Bank Mega Syariah, Bank Muamalat, and others.

While there is no exact information yet on the amount of Muhammadiyah's funds in BSI, circulating reports suggest it could be around IDR 13–15 trillion. This is seen as having an impact on the company.

In the context of sharia banking, liquidity conditions can be reflected in the financing to deposit ratio (FDR), commonly known as the loan to deposit ratio (LDR) in conventional banking. The higher the bank's FDR, the tighter its liquidity. Conversely, the lower the FDR, the more relaxed the bank's liquidity.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.