Indonesia's largest Islamic bank starts operations

President Joko Widodo launched operations of Indonesia's largest Islamic lender on Monday in a move to boost the sharia finance industry in the world's largest Muslim-majority nation.

Bank Syariah Indonesia was formed by merging Islamic banking units of Indonesia's state-lenders BNI Syariah and Bank Syariah Mandiri into BRI Syariah, combining 240 trillion rupiah ($17.13 billion) in assets and core capital of 22.6 trillion rupiah as of December 2020.
 

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