JAKARTA - The banking company owned by conglomerates Jerry Ng and Patrick Walujo, PT Bank Jago Tbk (ARTO) officially launched the Jago Syariah digital application as a solution for people who want to enjoy digital banking services with sharia contracts. Just like its predecessor, the Jago Syariah Application can also be downloaded via the user's mobile phone.
Bank Jago President Director Kharim Siregar said that since launching the Bank Jago Syariah operating unit in September 2021, his party wants to continue to encourage the contribution of the Islamic economy to the national economy.
"Indonesia itself is home to more than 230 million Muslims. However, Islamic banking products and services are still not the main choice compared to conventional banking products and services," he said at the virtual launch of the Jago Syariah Application in Jakarta, Tuesday, February 22.
The Jago Syariah application is designed as a personal application that makes financial management simpler, collaborative, and innovative.
As sophisticated as the conventional Jago application, customers can experience superior innovations and features, such as Pockets with wadiah contracts and the ability to integrate with other digital ecosystems, including Gojek, GoPay, and Bibit.
Based on the Indonesian Banking Statistics released by the Financial Services Authority (OJK) as of last November 2021, Islamic banking assets (Islamic banks and UUS) were recorded at IDR 646 trillion or only 6.5 percent of total general banking assets of IDR 9,913.7 trillion.
Meanwhile, third party funds (DPK) reached IDR 512.8 trillion or only 7 percent of the total DPK for general banking which reached IDR 7,323.4 trillion.
"This is a challenge as well as an opportunity for us so that in the future we will continue to collaborate with both digital and non-digital ecosystems to continue to develop Islamic banking services," he continued.
On that basis, Bank Jago is expected to be a positive catalyst in spurring economic growth and the Islamic finance industry as well as increasing the contribution of Islamic banking to national banking.
“Digitalization will improve the quality of service to customers as well as expand market share. We believe that the presence of digital Islamic banking applications will have a positive impact," he said.
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