JakartaPost-May 6

At least five conventional banks are leaving Aceh to comply with a local regulation requiring financial institutions to operate under Islamic law. State-owned Bank Rakyat Indonesia (BRI), Bank Mandiri and Bank Negara Indonesia are planning to close their branch offices in the province and replace them with those of the newly established Bank Syariah Indonesia (BSI). BSI is the result of a merger of the three banks’ sharia-compliant subsidiaries. Publicly listed Bank CIMB Niaga has joined the three state-owned banks in converting their branch offices, but publicly listed Panin Bank will leave the province for good. Aceh is one of a handful of Indonesian provinces that have been granted special autonomy. It is the only province to formally practice sharia law, codified under the Qanun Jinayat (Islamic criminal code), although local courts remain under the jurisdiction of the Supreme Court.

Read more athttps://www.thejakartapost.com/news/2019/10/08/bri-teams-up-with-traveloka-to-offer-brizzi-e-money-card-top-up-service.html.