Press Release - September 23, 2021

Jago Syariah Officially Starts Its Operations

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Jago Syariah completes Bank Jago’s big aspiration as a tech-based bank embedded in digital ecosystems to cater the mass market segment using the latest technology.

 

Jakarta, 23 September 2021 – PT Bank Jago Tbk has officiated its sharia business unit (unit usaha syariah/UUS) to provide sharia-compliant banking services for the mass market segment. Jago Syariah will offer life-centric digital financial solutions for its customers using the most advanced technology.

President Director of Bank Jago Kharim Siregar stated that the establishment of Jago Syariah stemmed from the current situation in which the people are more familiar in using digital technology to fulfill their daily needs, including accessing banking products and services. The Covid-19 pandemic has accelerated technology usage on a massive scale. At the same time, most of the available digital bank applications are still those of conventional banks.

“We provide an option for those who prefer to have sharia banking products and services,” Kharim said during the launch of Jago Syariah.

Indonesia’s sharia banking industry still has lucrative potentials as shown in its achievements in the first half of 2021. Sharia banks and the sharia business units assets grew 15.87% with third party funds increased 16.55% to IDR 491.1 trillion, according to the Financial Services Authority (Otoritas Jasa Keuangan/OJK) data.

“Digitization will improve services for the customers and widen our market share. We believe the presence of a sharia digital bank application will positively boost the sharia economy’s contribution toward the national economy,” Kharim added.

Further, the customers also demanded sharia digital financial applications with quality that is on par with that of conventional banks, especially in terms of transaction features and technology used. Thus, they expected their sharia digital apps to be reliable and be able to offer solutions for their daily financial management issues.

“We listen to these demands because we also believe that each and every customer has the right to high quality products and services,” Kharim said.

Bank Jago is optimistic that the sharia digital apps will be a breakthrough in accelerating financial inclusion and literacy in the sharia segment that is still underserved. The company has committed to support the regulator’s agenda to develop sharia financial services in Indonesia.

“Jago Syariah app development is in the final stage. Surely we are working to launch this app soon because we believe this application will be beneficial for the sharia segment’s customers who want to enjoy customer-centric digital financial solutions,” Kharim concluded.

Semua jadi Jago

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