Indonesia Inaugurates Three Sharia Branch Offices Closer access to shariah-based banking for the wider community


Friday, 9th April 2021 - PT Bank Maybank Indonesia Tbk. ("Maybank Indonesia or the Bank") today inaugurated three Maybank Indonesia Islamic Branch Offices in Jambi, Malang and Banda Aceh. The inauguration ceremony conducted virtually was attended by President Director of Maybank Indonesia Taswin Zakaria, along with representatives of the Bank's commissioners and directors, Bank Indonesia ("BI") and the Financial Services Authority ("OJK").

In his remarks Taswin said, "This inauguration is a manifestation of Maybank Indonesia's efforts to optimize shariah services for the wider community, and introduce Islamic financial solutions with a competitive advantage. With the inauguration of these three Shariah branch offices, we now have a total of 18 shariah branch offices throughout Indonesia."

Since 2014, the Maybank Indonesia Shariah Business Unit ("UUS") has implemented a Shariah First strategy that focuses on active efforts to introduce shariah financial solutions customers as a primary financial solution managed in accordance with Shariah Principles, and one that may be accessed by all levels of society, regardless of religion or beliefs.

The Bank adopts a Leveraged Model approach to allow Maybank UUS Indonesia to utilize all the Bank's resources and networks to market shariah-based financial products. "The Leveraged Model approach we apply has contributed to realizing average annual UUS Maybank Indonesia asset growth of 17.1% for the last five years," Taswin said.

This expansion of the network of Maybank Indonesia Shariah Branch Offices is part of the Bank's efforts to realize its mission to Humanize Financial Services, with the aim that Maybank Indonesia's banking services can play a role in advancing the economy, including by the realizing the economic potential of various trade and industry sectors in the regions.

Head of Shariah Banking at Maybank Indonesia, Romy Buchari, said, "Through our network of Shariah branch offices, we are ready to cater to the demand for shariah-based financial solutions from individual customers, SMEs and corporations requiring products ranging from Hajj savings and deposit solutions to property and infrastructure project financing. In addition, Maybank UUS Indonesia can facilitate regional companies that require financing for regional development projects. We are committed to assisting to develop the shariah economy in the country, as can be seen after the portion of our shariah assets exceeded 21% of the total assets of Maybank Indonesia. This is the highest percentage of all shariah business units in Indonesia."

The inauguration of the Sharia Branch Office of Banda Aceh is a manifestation of the application of Islamic Financial Institution Qanun Number 11 of 2018 enacted by the Government of Nanggroe Aceh Darussalam, which stipulates the business activities of financial institutions are be carried out in accordance with Shariah Principles.

Besides its retail sector involvement, UUS Maybank Indonesia also plays an active role in a number of strategic domestic projects, including as the first bank in the country to provide financing facilities for the procurement of Covid-19 vaccines to PT Bio Farma (Persero) of USD 185 million or the equivalent Rp 2.68 trillion at the end of 2020. Maybank UUS Indonesia also aided the government issue its Green Sukuk Shariah Government Securities (SBN) worth USD 2.5 billion. Maybank UUS Indonesia also provides Foreign Currency Facilities Hedging Islamic Banking ("iB”) facilities first introduced to the market at the beginning of 2020.



Notes to Editors


Maybank Indonesia is one of the leading banks in Indonesia and is a part of the regional and international network of the Maybank Group. Maybank Indonesia provides a comprehensive range of products and services for individual and corporate customers through Community Financial Services and Global Banking, as well as automotive financing through subsidiaries, WOM Finance for two-wheeled vehicles and Maybank Finance for four-wheeled vehicles. Maybank Indonesia also continues to develop Digital Banking services and capacity through Mobile Banking, Internet Banking, Maybank M2U (mobile banking based internet banking) and various other channels.

As of December 2020, Maybank Indonesia has 361 branches including Syariah branches spread across Indonesia as well as one overseas branch (Mumbai, India), 22 Mobile Cash Cars and 1,428 ATMs including 79 CDMs (Cash Deposit Machine) connected with over 20,000 ATMs incorporated in ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS, and connected to 3,500 Maybank ATMs in Singapore, Malaysia and Brunei. Maybank Indonesia manages customer deposits amounting to Rp115.0 trillion and has total assets valued at Rp173.2 trillion as of December 2020.


For more information:

Dimas Tjahjono Dradjat
Communications, Head
Telp: +6221 2922-8888