Newly Established Sharia Bank Expected to Boost Sharia Economy in Indonesia: President Jokowi

President Jokowi officially launches the Indonesia Sharia Bank (BSI) Monday (01/02) at the State Palace, Jakarta. Photo by: PR/Ibrahim.

President Joko “Jokowi” Widodo has ordered the Indonesia Sharia Bank (BSI) to make a major contribution to the development of sharia economy in Indonesia.

“I really hope that the Indonesia Sharia Bank will make a major contribution to the development of sharia economy that makes the ummah and the people of Indonesia prosper,” the President said during the launching of the Bank, Monday (01/02) at the State Palace, Jakarta.

On that occasion, the President conveyed the following messages:

First, the BSI must become a universal sharia bank. It means that the Bank must be open, inclusive, and welcoming anyone who wants to become a customer.

Second, the BSI must be able to optimize the use of digital technology. This digitization is mandatory in order to reach those who have not been reached by the existing banking services.

Third, the BSI must attract millennial generation to become customers, because the number of young Indonesians currently reaches 25.87 percent of the total 270 million population.

“Fourth, sharia financial products and services from the BSI must be competitive, meet the needs of various consumer segments ranging from MSMEs, corporations to retail, and be able to facilitate customers to quickly improve their economy and become the backbone of our country’s economy,” the President said.

The President further said that the BSI could become a barometer of sharia banking in Indonesia and at the global level and be able to create new trends.

For the record, the Indonesia Sharia Bank is a new-established Bank as the result of the merger of three State-Owned sharia Banks, namely BRI Syariah, Mandiri Syariah, and BNI Syariah. (DND/UN) (RI/MMB)