JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir said the presence of branch services of PT Bank Syariah Indonesia (BSI) in Saudi Arabia could strengthen the Hajj and Umrah ecosystem.
He conveyed that in accordance with the new BUMN Law, the principle permits that had been obtained needed to be followed up with good planning, namely ensuring the Company's Long-Term Plan (RJPP) to start operating fully in Saudi Arabia within the next one year.
"This will open up great opportunities to encourage business to business (B-to-B) cooperation, as well as strengthen the Hajj and Umrah ecosystem from the economic side and Islamic financial services," Erick said in Jakarta, quoted by Antara, Tuesday, May 6.
According to him, this collaboration not only targets the financial sector, but also creates opportunities in terms of people-to-people, including the management of Hajj and Umrah funds, logistics, and the pharmaceutical sector.
Erick emphasized that the potential for a turnover of funds from Indonesian pilgrims is very large.
"Currently, funds circulating in Indonesia from Umrah and Hajj activities have reached Rp29 trillion. Meanwhile, in Saudi Arabia, there are still around Rp23 trillion that we can absorb. With the right ecosystem, we can start taking part in this transaction," he added.
Furthermore, Erick also highlighted the importance of a borderless service breakthrough between Indonesian immigration and Saudi Arabian immigration, which allows Hajj permits to be carried out directly from Indonesia.
This will be supported by the existence of special Hajj and Umrah terminals, such as Terminal 2F which was recently inaugurated by President Prabowo Subianto on Sunday (4/5).
"With the integration of this system, we are not only accelerating Umrah and Hajj services, but also starting to shift some digital payments transactions to be managed domestically, according to the direction of the President," he said.
Erick conveyed positive news from BSI's financial performance. In the first quarter of 2025, BSI managed to record a net profit of IDR 1,879 trillion, growing 10 percent compared to the same period last year.
This indicates that BSI's expansion and transformation have a strong foundation.
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In addition, Erick also highlighted the success of Bank Emas, one of the innovations launched by BSI and was inaugurated by the President of the Republic of Indonesia on February 26, 2025.
This initiative shows significant growth, with the average sales of gold BSI through the Byond app soaring from an average of 25 kilograms per month in 2024, to 265 kilograms per month in April 2025 following the launch of the gold bank.
"This is proof that if we want to transform and improve, there are always gaps or loop holes that we can take advantage of as opportunities. God willing, what we are doing today together with SOEs and Danantara will continue to show tangible and real results," he said.
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