OJK: CIMB Niaga Still Adjusting Business Processes for Islamic Unit Spin-off
Jakarta (ANTARA) – The Financial Services Authority (OJK) said PT Bank CIMB Niaga Tbk (CIMB Niaga) is still making various adjustments to its business processes after receiving in-principle approval in January 2026 to separate its Islamic business unit (UUS).
OJK Banking Supervision Chief Executive Dian Ediana Rae said the authority is closely monitoring progress on the spin-off, particularly operational readiness in accordance with regulations.
“Banks need to ensure that the spin-off does not result in a different customer experience, and that the Islamic commercial bank (BUS) established through the spin-off can operate soundly and sustainably, while continuing to comply with prudential principles in line with the expectations of the OJK and other stakeholders,” Dian said in a written response in Jakarta on Friday.
Dian said the process is proceeding in accordance with regulations and has received the OJK’s in-principle approval.
She said the spin-off is intended to create an independent, strong, stable and competitive national Islamic banking industry, capable of responding to challenges in an increasingly dynamic and complex banking sector.
The effective start date for the new Islamic commercial bank will be set once all preparations have been completed properly, with due regard for prudential principles, customer interests, the bank’s soundness, and the strengthening of the structure and competitiveness of Indonesia’s Islamic banking industry, Dian said.
According to a company disclosure, CIMB Niaga received the OJK’s in-principle approval on 14 January 2026 to separate its Islamic business unit by establishing a new Islamic commercial bank, PT Bank CIMB Niaga Syariah (CIMB Niaga Syariah).
The company also signed the deed of separation for the Islamic business unit on 27 January 2026.
On strengthening Islamic banks in Indonesia more broadly, Dian said the OJK continues to encourage initiatives to support healthy Islamic banks with larger business scales.
This is in line with the 2023–2027 Roadmap for the Development and Strengthening of Indonesia’s Islamic Banking (RP3SI).
The initiatives include promoting consolidation, including through the spin-off of Islamic business units, which may also be followed by mergers with other Islamic banks.
“The spin-off currently under way is expected to produce an Islamic commercial bank with sufficient capacity, thereby strengthening the structure of the Islamic banking industry. This underscores the OJK’s commitment to continuing to strengthen that structure,” Dian said.
Sustained increases in Islamic banks’ capital are also expected to help them achieve more adequate economies of scale.
Dian said this would enable Islamic banks to become more competitive and resilient in the national banking market, which is dominated by mature, large-scale banks.
“The OJK is therefore continuing to encourage shareholders to strengthen the structure of the Islamic banking industry through consolidation and increased capital, in order to accelerate the development of Islamic banks and Islamic business units that are more competitive in the national banking industry,” Dian said.