Implementation of Qanun on Islamic Financial Institutions in Aceh Provinc

Thank you for your unwavering trust in using Bank Danamon's banking services. We sincerely appreciate our well-established partnership as we emphasize our commitment to continuously improve our banking services for you.

We would like to inform you that in 2018, the special region of Aceh issued Qanun Aceh No. 11 of 2018 regarding Sharia Financial Institutions (Qanun LKS). It stipulates that all financial institutions, including banks, in Aceh must operate in accordance with Sharia principles.

After taking effect on 4 January 2019, Qanun LKS required all financial institutions operating in Aceh province, including Bank Danamon, to implement its stipulations no later than 3 (three) years after enactment. In compliance with Qanun LKS, Bank Danamon converted all its conventional-based bank branch offices based in Aceh into Sharia branch offices.
Please refer to the following information regarding our Sharia branch offices in Aceh province:

  1. Savings and/or Current Account Products
    1. All conventional savings and/or current account products will be converted into iB (Sharia) savings and/or current account products.
    2. Customers who have savings and/or current accounts should visit the nearest Bank Danamon branch office in Aceh province to change/convert their conventional savings and/or current accounts into iB (Sharia) savings and/or current accounts.
  2. Deposit Products
    1. All conventional time deposit products will be converted into iB (Sharia) time deposit products.
    2. Customers who hold conventional deposit accounts should visit Bank Danamon branch offices to convert into iB (Sharia) deposit account.
  3. Bancassurance Products (Insurance)
    1. All management of Bancassurance products will be transferred to Bank Danamon branch offices located outside Aceh Province, specifically in Tomang Elok Medan.
    2. Customers can still make transactions and disburse Bancassurance product policies through Sharia branches in Aceh Province. These will be forwarded to Bank Danamon Tomang Elok Medan branch.
  4. Changes/conversions of the above mentioned products will not affect your account balance. You can still do banking transactions through ATM, D-Bank or Danamon Online Banking.

For further information, please contact the nearest Bank Danamon branch or Hello Danamon at 1-500-090.