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Indonesia may merge Islamic banks

Indonesia may be planning to merge some state Islamic banks in order to gain a wider reach for the business. State enterprises minister Rini Soemarno said if there is a big bank, it can have bigger funding capabilities, and the mission is to form financial inclusion so that all areas of the country have a banking system. Soemarno did not disclose which banks are likely to be merged but there have been reports that state controlled banks Bank Mandiri, Bank Rakyat Indonesia and Bank Negara Indonesia may merge their Islamic banking businesses.

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