Bank Muamalat Targets Multipurpose Financing To Increase 125 Percent

Bank Muamalat (Between)

PT Bank Muamalat Indonesia Tbk targets the outstanding multipurpose financing to increase by around 125 percent year on year (yoy) by 2024. In addition, the contribution of multipurpose financing is expected to reach around 20 percent of the total Bank Muamalat's consumer financing portfolio.

Bank Muamalat SEVP Retail Banking, Dedy Suryadi Dharmawan, said that since last year Bank Muamalat has carried out a transformation to grow the consumer business. Multipurpose financing will be one of the main contributors.

"To ensure that this target is achieved, we have prepared a number of strategies. One of them is by preparing competitive product and pricing features. With this strategy, we are optimistic that we can become one of the main players in Islamic Multipurpose products," he told the media, Thursday, February 22.

Dedy explained, after the appointment of Bank Muamalat as a Salary Distribution Bank (BPG) for ASN within the scope of government agencies, this pioneer of Islamic banks in the country also targets the distribution of multipurpose financing to state servants. ASNs who have a salary account at Bank Muamalat have the opportunity to get multipurpose financing with competitive pricing. Apart from ASN, other segments that are targeted are State-Owned Enterprises, educational institutions, and health services.

In addition, Bank Muamalat also remains committed to developing the Hajj and Umrah segments. One of them is through Multipurpose Pro Hajj Plus products which are financing products for the registration of special hajj portions or commonly known as ONH Plus.

Customers who register for Hajj using ProHajj Plus will immediately get a special hajj portion number for the year. The ProHajj Plus submission process is relatively easy and the portion management will be assisted by the Special Hajj Organizers (PIHK) who have collaborated with Bank Muamalat.

In addition to the allocation of special Hajj financing, Multipurposes at Bank Muamalat can also be used for Umrah worship purposes. Purchasing Umrah packages can be done through the Muamalat DIN mobile banking application on the Hijrah Tour feature.

In addition, in order to expand networks and distributions, Bank Muamalat converted a number of cash offices in several areas into the Assistant Branch Office (KCP). With an expanded reach, of course, it will make it easier for Bank Muamalat to help develop the health and education sectors which are also spread throughout Indonesia, especially from the need for financing.