Sun Life And Bank Muamalat Strengthen Sharia Financial Literacy And Inclusion Through Bancassurance Week 2025

Photo: Doc. Sun Life Indonesia

JAKARTA - Sun Life Indonesia together with Bank Muamalat Indonesia present Bancassurance Week 2025 as part of a joint commitment to strengthen literacy, expand inclusion, and increase public awareness of the importance of financial protection in accordance with sharia principles.

Held simultaneously at 27 Bank Muamalat branch offices in various cities in Indonesia, this campaign brings direct education to the public through a collaborative, interactive, and easily accessible approach.

The challenges of Islamic financial literacy are still very real. Based on the latest survey by the Financial Services Authority (OJK) and the Central Bureau of Statistics (BPS) 2024, the level of Islamic financial literacy does show a significant increase from 9 percent to 39 percent, but this figure is still lagging behind general financial literacy which has reached 65 percent, and the national financial inclusion of 75 percent.

In fact, the potential of the sharia market continues to grow. The assets of the national Islamic finance industry have grown to reach IDR 2,884 trillion as of December 2024, with a projected growth of the sharia insurance industry of 6-8 percent YoY this year.

We believe that education is the first door to financial independence. Through Bancassurance Week 2025, we want to bring education directly to the community in a way that is fun, relevant, and easily accessible. Literacy that is still not evenly distributed shows that this effort is very much needed. At the same time, the potential of the sharia insurance market in Indonesia is very large. This program is here to bridge the gap and open public access to sharia-value-based protection," said Albertus Wiroyo, President Director of Sun Life Indonesia.

With the theme "Bercinar - With Sun Life Getting Smarter, Bigger, More Smoother, this campaign touches various layers:

Improvement of the capabilities of bank marketers, through interactive refresher and educational content training such as daily quizzes and video competitions. How about Customer experience that is more meaningful and as needed, through a series of activities in the branches that include direct education, sharia protection consultations, special programs such as quizzes, daily gifts, and exclusive merchandise. Build strategic collaboration, through Sun Life Management visits to Semarang, Surabaya, and Makassar branches as a form of direct support for literacy initiatives in the field.

Not only education, this campaign also introduces superior sharia-based products, namely Asuransi Salam Hijrah Sejahtera (SAHAJA) which can now be accessed directly through Bank Muamalat customer service.

SAHAJA is a sharia-based traditional life insurance product designed to reach more levels of society, including those who have not had easy opportunities and access to sharia-based life protection products.

The SAHAJA product offers benefits that are relevant to the needs of the community, such as: How to issue a policy without medical examination, so that it is more inclusive; How about the benefits of life protection of up to billions of rupiah during the insurance period; How to return contributions up to 150% at the end of the contract period; Special protection in the holy month and while carrying out the pilgrimage, makes this product very relevant for long-term spiritual planning.

SAHAJA is also present in response to the community's need for financial instruments that can help them plan the pilgrimage more calmly. With a long Hajj waiting period and increasing costs due to inflation, this product is a solution for families who want to prepare compensation as well as funds for payment of Hajj in a more planned manner.

For us, inclusion cannot happen without education. Bancassurance Week is an important momentum for Bank Muamalat to strengthen its role as a sharia bank that actively provides financial literacy to customers. Synergy with Sun Life Indonesia is in line with Bank Muamalat's efforts to become a sharia bank that provides the best and most relevant financial solution for the Indonesian people through innovative products, said Imam Teguh Saptono, President Director of PT Bank Muamalat Indonesia Tbk.

The strategic partnership between Sun Life and Bank Muamalat in this program reflects a strong synergy in encouraging the growth of the Islamic financial industry in Indonesia. This initiative is not only a form of commitment to business growth, but also a real contribution in building a more financially and spiritually resilient society.