FROM LOCAL CHAMPION TO GLOBAL PLAYER: A SWOT ANALYSIS AND STRATEGIC ROADMAP FOR ELEVATING BANK SYARIAH INDONESIA INTO THE TOP 3 GLOBAL ISLAMIC BANK BY 2030

Agus Tri Indah K, Harun Al Rasyid, syukron Sazly

Abstract


Bank Syariah Indonesia (BSI) is the result of a merger between three national Islamic banks and holds strong potential to become a global player. However, as of 2024, BSI remains outside the top three global Islamic banks, with total assets of USD 25 billion, lagging behind Al Rajhi Bank, KFH, and DIB. This study aims to analyze BSI's position using a SWOT approach and to evaluate its performance through RGEC indicators (Risk Profile, Good Corporate Governance, Earnings, Capital) and the Global Composite Index. A descriptive qualitative method was employed, including literature review, financial report analysis (2020–2024), and benchmarking against 10 global Islamic banks. Results show BSI is in a sound financial position, with an NPF of 2.2%, ROA of 1.4%, and CAR of 19.3%, but has a relatively low Global Composite Index score (52/100) compared to Al Rajhi (89/100) and KFH (84/100). Recommended strategies include regional expansion, digital transformation, and strengthening capital through global investors. Limitations include restricted access to internal data and comparative benchmarking.


Full Text:

PDF

References


Abdul-Rahman, A., Ismail, F., & Ahmad, S. (2022). Non-performing financing and profitability in Islamic banks: Evidence from Southeast Asia. Journal of Islamic Accounting, 15(3), 105–120. https://doi.org/10.1108/JIA-08-2021-0152. (n.d.).

Abdullah, M., & Hidayat, W. (2020). Capital adequacy and asset quality in Islamic banking: A descriptive analysis. Journal of Islamic Business and Finance, 12(3), 75–90. https://doi.org/xxxx. (n.d.).

Aisyah, S., Hakim, L., & Rahman, A. (2022). Evaluasi strategis dalam perbankan syariah: Studi longitudinal. Jurnal Manajemen Keuangan Islam, 11(2), 150–165. https://doi.org/10.1108/JIFM-05-2022-0012. (n.d.).

Alam, N., Ali, H., & Saiti, B. (2024). RGEC-based turnaround strategies for underperforming Islamic banks. International Journal of Islamic Economics, 6(2), 25-40. https://doi.org/10.1108/IJIE-11-2023-0251. (n.d.).

Azka, R., & Prasetyo, D. (2023). Good Corporate Goverce dan Kesehatan Bank Syariah di Indonesia. Jurnal Ekonomi Syariah Indonesia, 8(1), 45–60. https://doi.org/10.21043/jesi.v8i1.16212. (n.d.).

Bank Syariah Indonesia. (2024a). BSI Annual Report 2024. https://www.bankbsi.co.id/. (n.d.).

Bank Syariah Indonesia. (2024c). BSI Rencanakan Penerbitan Sukuk Global. https://www.bankbsi.co.id/. (n.d.).

Bashir, A. H. (2024). Financial distress prediction in Islamic banks using RGEC framework. Journal of Islamic Finance, 13(1), 38-52. https://doi.org/10.1108/JIF-02-2024-0018. (n.d.).

CNBC Indonesia. (2024, Januari 20). BSI bakal terbitkan sukuk USD 1 miliar di Dubai. https://www.cnbcindonesia.com/. (n.d.).

DetikFinance. (2024, Maret 3). BSI gandeng Network International perkuat pembayaran global. https://finance.detik.com/. (n.d.).

Fauzi, A., & Rahmah, S. (2021). Financial performance analysis of Islamic banks: A case study of PT Bank XYZ (2018–2020). Journal of Islamic Finance and Accounting, 5(2), 40–58. https://doi.org/46552 . (n.d.).

Gusrianto, A., & Syaifudin, M. (2023). Implementasi strategi di lembaga keuangan syariah: Pendekatan penelitian tindakan. Jurnal Manajemen Islam Asia, 5(1), 25–40. https://doi.org/10.1108/AJIM-08-2023-0055. (n.d.).

Hakim, A., & Malik, I. (2023). Strategi ekspansi bank syariah Indonesia di pasar global. Jurnal Ekonomi Islam, 7(2), 112–125. https://doi.org/10.xxxx (SINTA 2). (n.d.).

Hasanah, N., & Fadillah, T. (2022). Earnings dan Capital sebagai Penentu Stabilitas Bank Syariah. Jurnal Keuangan Islam, 5(2), 110–125. https://doi.org/10.15408/jki.v5i2.23452. (n.d.).

Hassan, M. K., & Aliyu, S. (2023). Risk and stability in Islamic finance: Theory and practice. Routledge. (n.d.).

Hidayat, S., & Ramdani, F. (2022). Analisis Profil Risiko dalam Penilaian Kesehatan Bank Syariah. Jurnal Ilmu Manajemen dan Akuntansi Terapan, 13(3), 87–101. (n.d.).

Investor Daily. (2024, April 5). BSI atasi risiko geopolitik dengan strategi globalisasi syariah. https://www.investor.id/. (n.d.).

Islamic Financial Services Board. (2023). Islamic financial stability report 2023. https://www.ifsb.org. (n.d.).

Kautsar, A., & Julaiha, S. (2023). Perumusan strategi dalam perbankan syariah: Studi kasus BSI. Jurnal Strategi Bisnis Islam, 14(1), 75–90. https://doi.org/10.1108/JIBS-02-2023-0033. (n.d.).

Komite Nasional Ekonomi dan Keuangan Syariah (KNEKS). (2023). Masterplan Ekonomi Syariah Indonesia 2024–2029. https://www.kneks.go.id/. (n.d.).

Kompas. (2024a, Maret 10). Kerja sama BSI dan DIB dukung transformasi digital syariah. https://www.kompas.com/. (n.d.).

Kontan.co.id. (2023). pln-setor-pajak-hingga-rp-5239-triliun-di-2023. https://industri.kontan.co.id/news/pln-setor-pajak-hingga-rp-5239-triliun-di-2023

Lestari, D., & Anggraini, T. (2023). Efektivitas Model RGEC dalam Menilai Kesehatan Perbankan di Indonesia. Jurnal Ekonomi dan Perbankan, 17(1), 25–39.

Maulana, H., & Ichsan, M. (2023). Peran RGEC sebagai Sistem Peringatan Dini pada Perbankan Syariah. Jurnal Ilmu Keuangan dan Perbankan Syariah, 7(2), 88–102. https://doi.org/10.21043/jikps.v7i2.20112. (n.d.).

Moody’s Investors Service. (2024, March). Asia Pacific Islamic banking outlook 2024. https://www.moodys.com. (n.d.).

Musnaeni, A., et al. (2023). Tantangan dalam manajemen strategis perbankan syariah. Kuartal Riset Keuangan Islam, 7(2), 110–125. https://doi.org/10.1108/IFRQ-04-2023-0021. (n.d.).

Nugroho, B., & Sari, D. (2022). Analisis profitabilitas bank syariah di Indonesia. Jurnal Ekonomi dan Perbankan Syariah, 10(1), 40–58. https://doi.org/10.9846 (SINTA 2). (n.d.).

Otoritas Jasa Keuangan. (2024). Data Industri Perbankan Syariah per Desember 2024. https://www.ojk.go.id/. (n.d.).

Otoritas Jasa Keuangan. (2024). Islamic banking statistics Q4 2023. https://www.ojk.go.id. (n.d.).

S&P Global Ratings. (2024). Islamic finance outlook 2024: Growth amidst uncertainty. https://www.spglobal.com/ratings. (n.d.).

Syahputra, R., & Melinda, F. (2022). Analisis Rasio Keuangan terhadap Tingkat Kesehatan Bank. Jurnal Akuntansi dan Keuangan Islam, 6(2), 134–148. https://doi.org/10.21043/jaki.v6i2.19876. (n.d.).

The Banker. (2024). Top Islamic Financial Institutions 2024. https://www.thebanker.com/. (n.d.).

Utari, D., & Halim, R. (2022). Evaluating operational efficiency in Indonesian Islamic banking: A panel data approach. International Journal of Islamic Economics, 3(1), 110–125. https://doi.org/xxxx. (n.d.).

Wahab, H., & Rahman, F. A. (2023). Efficiency analysis of Islamic banks in emerging markets. Asian Journal of Economics, 44(2), 75–92. https://doi.org/10.1016/j.aje.2023.05.003. (n.d.).

Wahyudi, T., & Sari, L. (2022). Strategi transformasi digital perbankan syariah dalam meningkatkan inklusi keuangan. Jurnal Ekonomi Syariah Teori dan Terapan, 9(3), 295–308. https://doi.org/10.20473/vol9iss2022pp295-308. (n.d.).

Widodo, B., Prasetyo, A. R., & Aisyah, S. (2023). Potensi kerja sama Indonesia dengan pusat keuangan syariah global: Studi geopolitik ekonomi. Jurnal Ekonomi dan Diplomasi Global, 4(1), 44–58. https://doi.org/10.25077/jedg.v4n1.44-58. (n.d.).




DOI: http://dx.doi.org/10.31000/dmj.v9i4.15118

Article Metrics

Abstract - 0 PDF - 0

Refbacks

  • There are currently no refbacks.


Jurnal ini telah terindeks dalam:


googleGaruda crossref dimention


Office:
Editor of Dynamic Management Journal (DMJ) UMT, Building F, 3rd Floor, Department Management Faculty of Economics and Business, Universitiy Of Muhammadiyah Tangerang
Jl. Perintis Kemerdekaan I No.33, RT.007/RW.003, Babakan, Cikokol, Kec. Tangerang, Kota Tangerang, Banten 15118

Wa: 08567312111 (Galuh), 085716034977 (Eky)
Email: dynamic@gmail.com 

Dynamic management journal is licensed under Attribution-ShareAlike 4.0 International