President Jokowi: Endowments Banks to Solve Problems Faced by Conventional Banks Costumers

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 10 Maret 2018
Category: News
Read: 1.091 Views
President Jokowi inaugurates Micro Waqf Bank in Assalafi Al Fithrah Islamic Boarding School, Kedinding, Surabaya, Friday (9/3) (Photo: PR/Agung).

President Jokowi inaugurates Micro Waqf Bank in Assalafi Al Fithrah Islamic Boarding School, Kedinding, Surabaya, Friday (9/3) (Photo: PR/Agung).

In a series of a working visit to East Java, starting on Thursday (8/3), President Joko ‘Jokowi’ Widodo visited Assalafi Al Fithrah pesantren (Islamic Boarding School), in Kedinding, Surabaya, on Friday (9/3). On the occasion, the President inaugurated Al Fitrah Wava Mandiri Micro Waqf (endowment) Bank.

In his remarks, President Jokowi explained that he pushed for the founding of waqf banks because the President does not want to manage huge matters only, but also small matters. “Even though it will be only a small office, it does not matter. The capital is also not more than 8 billions, does not matter too,” the President said.

According to the President, the development of micro waqf banks are funded by prominent figures in our country. The President further said from Cirebon for example, the businessperson Dato Tahir gave a donation for the founding of the banks.

The Head of State expressed his hope that the micro waqf banks are able to solve problems faced by conventional banks costumers because when they apply for loan, they must have collateral and collect a lot of administrative papers. “We can also see, in a conventional bank, the bank interest is fairly large. In micro waqf bank, there is only operational or administrative fee which is amounting only to 3% per year, not per month,” the President said while adding if someone wants to ask for Rp2,000,000 loan please apply to this micro waqf bank.

As for the choosing of pesantren as a place to found micro waqf bank, President Jokowi explained because the Government want its students to learn how to manage a bank professionally. So that, the President added, if in the future this banks become a great bank it will further develop people economy, and it will run well. (DID/AGG/ES) (EPI/YM/Naster)

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