OJK approves merger of BPRS Rizky Barokah into PNM Mentari

Tasikmalaya (ANTARA) - The Financial Services Authority (OJK) has approved the merger of PT Bank Perekonomian Rakyat Syariah (BPRS) Rizky Barokah, based in Tangerang, Banten, into PT BPRS PNM Mentari, which is headquartered in Garut Regency, West Java, in a move to strengthen a competitive financial industry structure. “This sharia BPR merger is an important momentum to strengthen industry resilience, increase capital capacity, and expand public access to quality sharia financial services,” said Head of OJK Tasikmalaya, Nofa Hermawati, during the handover of the decision letter at the OJK Tasikmalaya Office, West Java, on Tuesday. She stated that the approval was granted through Decision of the OJK Board of Commissioners Member Number KEP-55/D.03/2026 dated 13 July 2026. The consolidation of sharia BPRs is a strategic step to enhance industry resilience while expanding its contribution to the economy. The merger, she continued, is to comply with the provisions of OJK Regulation Number 7 of 2024 concerning Rural Banks and Sharia Rural Banks, while also supporting industry strengthening through increased business capacity, capital structure, governance, and service quality to the public. “OJK will continue to oversee the consolidation process to ensure it proceeds according to regulations, resulting in a sharia BPR that is healthy, adaptive, and capable of providing added value to the community and the regional economy,” Nofa said. She conveyed that besides strengthening the institutional structure, the merger is expected to increase the business capacity of the sharia BPR through the expansion of service networks, development of digital services, increased public trust, and the provision of more innovative and inclusive sharia financial products and services. OJK also requested the management of PT BPRS PNM Mentari, as the resulting entity of the merger, to immediately follow up on various institutional strengthening measures, including improving the cash ratio, resolving financing quality, and settling non-performing financing. OJK will continue to encourage the consolidation of the BPR and sharia BPR industry in line with the policy direction for strengthening the banking sector, in order to create a more robust, efficient, and competitive industry capable of expanding financial inclusion and supporting financing for productive sectors for national economic growth.