DUBAI (Yosefardi) – Dubai Islamic Bank PJSC (DIB) has gained formal approval from the Financial Services Authority (OJK), to boost its shareholding in PT Bank Panin Syariah Tbk to 40%.
DIB has completed the first phase of accumulating 25% shares in PT Bank Panin Syariah Tbk, a listed Syariah commercial bank in Indonesia.
After being granted this approval from the OJK, DIB is now in a position to initiate and complete phase 2 of the share purchase plan which seeks to increase its shareholding to 40%.
Islamic banking in Indonesia has huge potential which still remains largely unexploited, said Dr. Adnan Chilwan, Group CEO, DIB.
Bank Panin Syariah is currently controlled by PT Bank Panin and operates through a network of 12 branches.