IslamicFinance.de

Dubai Islamic Bank (DIB) has officially submitted a request to Indonesia’s Financial Services Authority (OJK) to up its stake in Jakarta-listed Bank Panin Syariah (PNBS). It has expressed its intention to increase its ownership in Panin Syariah to 40 percent. DIB currently owns a 24.9 percent stake in Panin Syariah, a subsidiary of private lender Panin Bank (PNBN). The United Arab Emirates lender acquired Panin Syariah’s shares, reportedly worth Rp 251.79 billion (US$21.7 million), in two stages in May this year. The rest of Panin Syariah’s shares are controlled by Panin Bank with 52.5 percent, Hesti Femi Nugraheni with 5.4 percent and the public with 17.2 percent. The OJK expects to complete the talks and issue approval for DIB later this year.