Indonesia is a country with the largest Muslim population in the world. However, unfortunately, sharia banking products and services are still not the main choice of Indonesian people. Many people think that sharia banking products and services are not yet equivalent and convenient as those offered conventionally.
How can Muslim Jagoans manage finances practically and innovatively, but according to sharia with Jago Syariah?
How is the Development of Sharia Economy in Indonesia?
The development or growth of sharia economy in Indonesia shows a positive trend, especially in the last five years. As reported on the National Committee for Sharia Economics and Finance website, total sharia financial assets until June 2024 reached Rp2,756.45 trillion or grew 12.48% yoy. And, the sharia financial market share has reached 11.41% (excluding sharia stocks).
Still reported on the same website, the issuance of halal certification until September 30 2024 grew 45% yoy. Likewise, sharia social funds have experienced significant growth in the last five years and sharia financial literacy in Indonesia continues to increase every year.
The Sharia Digital Financial Management Solution Offered by Jago Syariah Through the Jago Application
Jago Syariah is present as a form of Bank Jago's concern in increasing sharia financial literacy and inclusion in Indonesia. So what are the advanced features that you can use in your daily life to manage your finances according to sharia?
1. Jago Syariah Pockets for budgeting and managing various expenses
The Jago application is designed to help you get used to and disciplined in budgeting. You can create lots of Jago Syariah Pockets, up to dozens of them. As such, it's easy and practical to separate the budget into Pockets, each of which has an account number.
In the Jago application, you can have Pockets for paying bills, daily and monthly shopping, transportation, saving, deposits, emergency funds, retirement, Umrah, Hajj, sadaqah and zakat, and so on.
Did you know that as of 31 December 2024, more than 73 thousand Pockets had been created by Jago and Jago Syariah users for Hajj and Umrah?
And, did you know that Jagoan users of Jago Syariah have created 4.2 million Pockets to meet their living needs, mostly for emergency funds, down payments and house installments, as well as family needs?
2. Jago Syariah Visa Debit Card and QRIS
To ensure you don't spend too much or stick with the budget, you can make transactions using the Jago Syariah Visa Debit Card and QRIS, which is certainly more practical than carrying cash wherever you go.
Both features can be linked to any Spending Pocket in the Jago application. So, make sure you choose the right Spending Pocket as your source of funds when making payments. Apart from that, you can also set daily transaction limits for the Jago Syariah Visa Debit Card to ensure expenses are well controlled.
Did you know that throughout 2024, the Jago Syariah Visa Debit Cards were used for transactions at more than 3,000 merchants in Saudi Arabia? The most frequent transactions were to pay for hotels, plane tickets and high-speed train tickets in Saudi Arabia.
And, did you know that Jago Syariah has also helped Jagoan to complete online and offline transactions in 145 countries, including the United States, Ireland, England, Singapore and Malaysia?
3. Jago Syariah akad
Jago Syariah provides two akad options. There is Wadiah Yad Dhamanah akad for the Saving Pockets and Spending Pockets without interest or returns. There is also Mudharabah Muthlaqah akad for Sharia Deposits, which provides profit sharing according to the ratio agreed by the Bank and you at the beginning of opening the deposit.
Sharia Compliant Investment with the Jago Syariah Ecosystem
Jago Syariah doesn't just help you save and manage your finances wisely. Collaborating with Bibit and Stockbit, Jago Syariah encourages Jagoan to start actively investing in the money market and sharia capital market.
By opening Jago Syariah RDN via the Stockbit application or Bibit application by upgrading to Bibit Plus, you can start investing in mutual funds, Government Sharia Securities (SBSN) or government sukuk, as well as stocks that fall into the sharia category, according to the fatwa of the DSN-MUI.
Did you know that as of 31 December 2024, there were more than 260 thousand Jago Syariah users connected to Bibit and Stockbit and more than 470 thousand Pockets or financial goals created due to the Jago Syariah collaboration with Bibit?
