These Are Jokowi's 4 Important Messages For Indonesian Sharia Banks, One Of Which Is Don't Be Composed With 'Sharia' Identities

President Joko Widodo (Photo: Presidential Secretariat Press Bureau)

JAKARTA - President Joko Widodo (Jokowi) expressed his high hopes for the establishment of PT Bank Syariah Indonesia Tbk (BSI). In his opening remarks, the head of state asked BSI to become the motor for the revival of the sharia economy in Indonesia which he likened to a sleeping giant.

"I believe that God willing, Indonesia's sharia economy will grow very fast, will contribute greatly to the welfare of our people," he said at the Merdeka Palace, Jakarta, Monday, February 1.

This optimistic tone was expressed by the president because Islamic banking was known to have recorded positive performance during the pandemic period when conventional banking was under pressure.

"Sharia economy is proven to be able to survive in times of crisis like today," he said.

From the speech, President Jokowi gave four important messages which served as directions for the development of Islamic banks with the BRIS stock code. The following is a summary.

1. So a universal bank President Joko Widodo expects BSI to become a financial institution that serves all levels of society, and is not fragmented by the Islamic identity that is carried. He said that this bank should be able to embrace everyone and not only fixate on Muslim customers

2. Utilization of technology Optimization of technology must be put forward by BSI, especially during a pandemic like this time. This strategy is useful in order to reach all people, especially those who have not been reached by conventional banking access.

Young Generation On this occasion, President Jokowi said that BSI has a great opportunity to grow if it can grab young people. In his records, 25.8 percent of Indonesia's 270 million population is of the productive age.

4. Variable financial products The provision of a variety of competitive financial products can be the key to BSI's success in encouraging the Islamic ecosystem to contribute greatly to the national economy. The head of state said that the target of reaching many layers of society must be balanced by the diversity of products offered. In addition, the sensitivity to catch financial trends can help Indonesian Sharia Bank become a big player both at the local and global levels.

To note, Bank Syariah Indonesia was established as a result of the merger of PT Bank Rakyat Indonesia Syariah Tb (BRIS), PT Bank Syariah Mandiri (BSM), and PT Bank Negara Indonesia Syariah (BNI Syariah). BSI itself is the seventh largest banking institution in Indonesia in terms of assets, and the largest in the sharia class.

Meanwhile, BSI's assets currently amount to IDR 240 trillion, total financing IDR 157 trillion, IDR 210 trillion third party funds (DPK), and IDR 22.6 trillion core capital.

The government hopes that Bank Syariah Indonesia will be able to speak a lot at the international level with a target of entering the top 10 largest Islamic banks in the world.