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As of February 2023, acquisition of another state-owned bank BTN Syariah is still being discussed, but it would be instead acquired by Bank Muamalat Indonesia (BMI) and it would be finished in March 2024. BTN Syariah was founded on 14 February 2005 as a sharia banking unit of Bank Tabungan Negara (BTN). [6]
Indonesian traditional Quranic school. The spread of Islam in Indonesia was a slow, gradual and relatively peaceful process. One theory suggests it arrived directly from Arabia before the 9th century, while another credits Sufi merchants and preachers for bringing Islam to Indonesian islands in the 12th or 13th century either from Gujarat in India or directly from the Middle East. [4]