Danamon Syariah Provides Various Financial Solutions for Hassle-Free Islamic Worship

Press Release / 14 June 2024

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Jakarta, 14 June 2024 – PT Bank Danamon Indonesia Tbk (Danamon) through its Danamon Syariah Sharia Business Unit (Danamon Syariah) remains committed to supporting customers' financial needs for various needs, including for performing acts of worship. 

The 2024 Danamon Financial Friday (DFF) episode entitled "Purchasing Sacrificial Animals Made Easy and Without Burden" is dedicated to discussing a host of financial challenges and tailor-made solutions in performing Iduladha rites, going on the Umrah pilgrimage and going on the Hajj pilgrimage, which is the fifth pillar of Islam. 

"Danamon Syariah understands the importance of financial planning and selecting a trusted partner to support acts of worship or fulfilling the spiritual needs of Muslims, starting from performing ritual sacrifice for Iduladha, Umrah pilgrimage, and Hajj pilgimage.To that end, Danamon Syariah provides financial products and solutions that are tailored to the various financial needs and goals of Muslims in Indonesia based on the sharia principle of profit-sharing agreements also known as mudharabah," said Director of Sharia & Sustainability Finance PT Bank Danamon Indonesia Tbk, Herry Hykmanto.

Data from Indonesia’s Ministry of Agriculture shows that the availability of sacrificial animals throughout the country for Eid al-Adha 2024 reaches 2.06 million sacrificial animals or a surplus of 88,000 sacrificial animals from the national requirement of 1.97 million. Understanding the importance of financial planning for Qurban, Danamon Syariah offers the BISA Qurban iB Savings product through which customers can save on the cost of purchasing sacrificial animals every year with an initial deposit of just Rp50,000 and monthly deposits starting from Rp150,000. 

Apart from Qurban, Umrah and Hajj pilgrimages are also the dreams of almost all Muslims across the world, including in Indonesia. According to the Saudi Arabian Tourism Authority, Indonesia is one of the countries with the biggest number of Umrah and Hajj pilgrims compared to other countries. In 2024, Saudi Arabia eyes more than 2 million Umrah pilgrims from Indonesia. Based on the official website of Indonesia’s Ministry of Religion, the quota for Hajj pilgrims continues to increase every year, reaching 241,000 this year, consisting of 213,320 regular Hajj with a waiting period of 25 – 40 years and 27,680 special Hajj with a waiting period of 5 – 9 years. The quota for Hajj pilgrims in 2024 is the largest number of pilgrims in the history of Hajj in Indonesia.

With Danamon Syariah, customers can plan their finances to go on Umrah and Hajj pilgrimages comfortably. For example, with BISA Umrah iB Savings, customers can save for 6 to 72 months with an initial deposit of only Rp100,000 and monthly deposits starting from Rp300,000. Meanwhile, for the Hajj pilgrimage, Danamon also offers the iB Hajj Savings Plan to help customers save for Hajj funds.

This product has an initial deposit of Rp100,000 and monthly deposits starting from Rp300,000, and is available with an auto debit feature. For customers who intend to perform the Special Hajj pilgrimage, Danamon Syariah provides deposit payment services in Dollars (USD) with an initial deposit of 4,000 USD. Moreover, Hajj and Umrah planning products in Rupiah at Danamon Syariah will automatically get life insurance protection of up to Rp200 million.

"To give comfort and ease for customers in planning their holy journey, Danamon Syariah provides various clear and credible Hajj travel and financial planning products because Danamon Syariah has been registered with the Indonesian Ministry of Religious Affairs' Integrated Hajj Computerized System (SISKOHAT) and collaborates with trusted travel agents registered with the Ministry so that customers are certain to get a Hajj registration number and can make a pilgrimage to the Holy Land," Herry explained.

Herry further pointed out that this episode of the DFF also aims to improve public literacy regarding various financial instruments, including sharia-based financial instruments. Based on the 2022 National Survey of Financial Literacy and Inclusion (SNLIK) conducted by the OJK, the Sharia Financial Literacy Index remains low at 9.14%, while the National Financial Literacy index is still at 49.68%, showing that there remains a significant gap of 40.54% between the Sharia and National Financial Literacy indeces. For this reason, Danamon Syariah stays committed to continue educating the public about sharia finance and improving Sharia Financial Literacy in Indonesia.

"With various products and services offered, Danamon Syariah is committed to becoming the bank partner of choice that Muslims in Indonesia can rely on to fulfill their religious duties," Herry concluded.

For further information on various sharia-based financial solutions and products from Danamon Syariah, please visit bdi.co.id/danamonsyariah.

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