Bank Muamalat is pioneer of sharia banking in Indonesia, but losing out market share to similar banks established by major state banks. As of today, Bank Syariah Mandiri (BSM), subsidiary of Bank Mandiri, is the largest sharia bank after years of aggressive growth. Two other state banks, BRI and BNI, have huge potential to grow their respective sharia units, given their size and target market.To subscribe please click here
