REPUBLIKA.CO.ID, JAKARTA - Government plans to form a state-owned Islamic bank with consolidation or conversion a state-owned bank. Deputy Minister of State-Owned Enterprises, Gatot Trihargo said the plan review was still undergoing. 

Trihargo said that government prepared three aternatives of conversion. First, consolidating subsidiaries of state-owned banks. Mandiri Sharia, BNI Sharia, BRI Sharia and BTN Sharia would be fused into one unit. Second, converting one of four state-owned banks to sharia bank and it would be combined with the unit of subsidiaries. "The last stages is go public," Trihargo said on Thursday.

Deputy Governor of Bank Indonesia (BI), Halim Alamsyah added one of the weaknesses of Islamic banks is the high operating costs to spend for technology. "The consolidation is more realistic since the process will be easier," he said.

Alamsyah hoped in next five years, the market of Islamic banks could reach 10 percent. This was motivated by growth in total assets amount 30 to 40 percent per year if conventional market share below 20 percent. 

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