Director of the National Sharia Finance Committee (KNEKS) Sutan Emir Hidayat welcomed the idea of the State Savings Bank (BTN) collaborating with Muhammadiyah to develop BTN Syariah as a result. spin off. According to him, if realized, it could advance the sharia financial industry in the country.
“Whether the information is true or not, only BTN and Muhammadiyah know. We can only hope and pray for the best for both of them. If they unite, the impact will be significant, both for BTN Syariah, Muhammadiyah and the industry,” said Emir after a discussion event held by the Regional Journalist Forum (Forwada) in Jakarta, Friday (23/8).
He said that BTN actually had an obligation to immediately wean (spin off) its sharia business unit. According to the law, they only have a two-year deadline from when they meet the spin-off requirements. Due to time constraints and to optimize momentum, BTN chose the option of acquiring a sharia bank rather than building from scratch.
“Well, BTN Syariah is expected to be a strong capital, has a large business scale and solid fundamentals. It is even expected to accompany BSI in advancing the industry,” he said.
At the same time, Muhammadiyah also harbors a desire to have its own Islamic bank. With share ownership, they can be more free to participate in fighting for and implementing the vision of driving the Islamic economy.
“Muhammadiyah’s economic ecosystem is extraordinarily large. Its money turnover is also high. Unfortunately, so far, they have only relied on partnerships with a number of banks, either in the form of saving funds, financing or cash management,” added Emir.
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With such a partnership pattern, Muhammadiyah’s position is considered passive. It does not even have the opportunity to simply place its representatives in the ranks of commissioners or directors, despite Muhammadiyah’s strong support for the bank.
In fact, Muhammadiyah has its own vision and mission in advancing the economy and improving the standard of living of its citizens based on sharia principles.
“It is at this point that I see Muhammadiyah perhaps thinking about a strategic partnership wrapped in ownership so that it can help determine the direction of this bank going forward,” he said. (Z-11)
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