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Finance

Bank Syariah Indonesia targets nation's Islamic finance ambitions

Merged lender to issue global sukuk and serve micro and small businesses

Indonesia's Deputy State Enterprise Minister Kartika Wirjoatmodjo, center, poses with executives at the head office of new entity Bank Syariah Indonesia. (Photo courtesy of bank)

JAKARTA -- Indonesia is seeking to supercharge its Islamic finance ambition with the launch this week of the country's largest sharia-compliant lender, Bank Syariah Indonesia.

The new entity is the product of a merger between the sharia subsidiaries of the country's three top state-owned lenders -- Bank Rakyat Indonesia, Bank Mandiri and Bank Negara Indonesia.

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