BSI Encourages Customer Growth Abroad Through Migrant Workers' Remittance

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) encourages customer-based growth abroad, one of which is by preparing remittance services for Indonesian migrant workers (PMI) in Malaysia, along with the company's efforts to boost low-cost funds.

SEVP Digital Banking BSI Saut Parulian Saragih said, until June 2024 the BSI remittance business reached 1 million transactions. This means that PMI transaction needs abroad are quite high.

"For this reason, we will be more solid and massive in cooperating with partners with remittance, especially in countries where the number of PMIs is large. Moreover, the transactions of migrant workers are dominated by bank transfers, e-wallets, and cash disbursement," said Saut in Jakarta, quoted from Antara, Thursday, August 29.

Saut hopes that by continuing to disseminate information to PMI and expanding the network of remittance partners, it will provide ease of service so that it will further increase customer-based.

To spur the growth of the number of customers in neighboring countries, BSI conducts financial literacy by socializing the company's products and services to PMI in Malaysia at the People's Party.

The event was held by BSI in collaboration with the Consulate General of the Republic of Indonesia (KJRI) Johor Bahru at the Johor Bahru Consulate General's Office on Sunday (25/4) which was attended by more than 2,000 migrant workers. The activity was also a form of commitment by BSI and the Indonesian Consulate General in Johor Bahru to support the sharia economy for Indonesian citizens in Malaysia.

In a People's Party event held at the Consulate General of the Republic of Indonesia Complex in Johor Bahru, PMI can easily open an account through BSI Mobile using a Malaysian local mobile phone number. This means, continued Saut, currently to experience Islamic banks is very easy and can reach all groups anywhere and anytime. In this case, the company accelerates BSI Mobile's digital services to become a one stop solution, especially for migrant workers.

Meanwhile, Indonesian Consul General Malaysia Sigit Suryantoro Widiyanto expressed his support for the BSI initiative to strengthen services for PMI in Malaysia.

"Hopefully BSI can continue to collaborate with the Indonesian Consulate General in Johor Bahru and provide benefits, especially for PMIs in Malaysia," said Sigit.

On the same occasion, BSI collaborated with remittance partners, namely SMJ Lotus Sdn. Bhd. which is a strategic partner in sending money from Malaysia to Indonesia. PMI can send money in real time through SMJ branches and agents in Malaysia at a cost and competing exchange rates.

COO of SMJ Lotus Sdn. Bhd. Stella Yong said that PMIs can also send their money to Indonesia using the Ewang application which makes it easier for customers to send money anytime and anywhere.