JAKARTA. Sharia banks are struggling to develop their market shares to above of 5%. Meanwhile, Financial Service Authority (FSA) continues to push sharia banks to expand their assets to the level of 10% of total assets of their parent conventional banks.
Chairman of Commisioners Board of FSA Muliaman D Hadad said that the target was made to push the parent companies to develop their subsidiaries, for an example, by injecting additional capitals to their sharia banks.
According to Muliaman, to date FSA has not yet set the deadline for the parent banks to realize the target. However, FSA continues to monitor the business plan of the parent banks.
Deputy Commissioner for Banking Supervision at FSA Mulya Siregar said that the assets of 10 out of 13 sharia banks are less than 10% of the total assets owned by their parent companies.
Sharia bankers admitted that they have to struggle to meet FSA’s target. President Director of PT BNI Syariah Imam Teguh Saptono said that BNI Syariah assets are only amounted to 5.2% of its parent bank’s assets. “To date we only secure 30% of asset growth, while in order to equal with 10% of total parent companies’ assets, a bank needs to grow their assets by 60%”, he said.
According to Imam, the parent banks may share their portions in infrastructure fundings to sharia banks in order to jack up their business growth. Imam estimated that BNI Syariah needs at least five years to meet FSA’s target.
Meanwhile, President Director of BRI Syariah Hadi Santoso said that the bank needs at least seven years to meet the target.
(Muhammad Farid/Translator)
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