REPUBLIKA.CO.ID, JAKARTA - Deposit Insurance Agency (LPS) issued a letter to guarantee hajj pilgrimage fund managed by an Islamic bank, Bank Syariah Mandiri (BSM). 

"We believe BSM is capable to manage hajj funds prudently," Chief Executive of LPS, Mirza Adityaswara said on Sunday.

President Director BSM Yuslam Fauzi said he was grateful for the guarantee letter fro.m the LPS. The BSM set its target to dominate hajj pilgrimage funds since 2005.

"BSM targets to be a bank for hajj pilgrimage in Indonesia," Fauzi said.

Since 2008, BSM successfully outnumbers two state owned banks in terms of market shares. About 28 percent of BSM costumers are regular hajj pilgrims.

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