JAKARTA — PT Bank Syariah Indonesia Tbk (BRIS) continues to prove its commitment in becoming financial, social, spiritual partners to its users in managing wealth in sharia fashion through exclusive services of BSI Prioritas.

One of the most renowned sharia banks in Indonesia, BSI has provided exclusive services of BSI Prioritas under its wealth management segment, which manages to build a solid foundation in sharia-based wealth management.

“BSI Prioritas bases its approach in 5 core pillars of Sharia Wealth Management, including Wealth Creation, Wealth Accumulation, Wealth Purification Wealth Protection, and Wealth Distribution,” said Anton Sukarna, Director of Retail Banking of BSI.

In terms of wealth accumulation, BSI Prioritas offers support to its issuers to allocate their assets through various sharia investment instruments, including sharia mutual fund, sharia government securities (lit. surat berharga syariah negara/SBSN), gold investment, and sharia deposits. The users are directly assisted by Relationship Manager and Wealth Specialist team during their investment purchases. BSI offers investment instruments in Indonesian Rupiah and US Dollar, thus enabling diversification of investment alternatives for users.

Recently, BSI launched 6 products of sharia mutual funds. As of now, BSI markets over 20 sharia mutual funds with varied asset classes, adjustable to risk profile and needs of users.

Sukarna believes that new sharia mutual funds may complete needs and offer more alternatives to users willing to invest under sharia principles, particularly in mutual fund instrument,

“BSI Prioritas has even officially become a selling agent of mutual funds, and we are the only sharia banks in Indonesia carrying that status,” claimed Sukarna.

BSI continues to provide various facilities and special services for priority users that wish to do hajj and umrah, including launching a new service, Hajj & Umrah Concierge.

“Through Hajj & Umrah Concierge, BSI provides special services for BSI Prioritas users, ranging from spiritual consultancy service that will assist the users regarding procedures and implementation of hajj and umrah, to financial solution service through various investment products, both in rupiah and dollar, as well as exclusive packages that grant transaction accessibility to provide comfort during the worship in the Holy Land,” Sukarna explained.

As of September 2023, BSI Prioritas users have reached 58,000 people, growing approximately 12% (yoy).

Then, in wealth purification, BSI Prioritas offers consultation service for ZISWAF (Zakat, Infaq, Sadaqah, Waqf), by inviting professional consultants working together with BSI Maslahat. This service may be accessed through BSI Mobile platform, enabling easy disbursement of Zakat, Infaq, and Sadaqah.

Wealth protection is the fourth pillar of sharia-based wealth management program initiated by BSI. In this case, the company partners up with AXA Mandiri and BNI Life to provide various bancassurance products that could be selected to protect wealth.

Lastly, wealth distribution is a core pillar in sharia wealth management, in which BSI Prioritas offers consultancy service regarding Islamic inheritance law, including pillars of Islamic inheritance, terms and conditions of Islamic inheritance, and calculation of shares in Islamic inheritance.

“We also form a synergy with professional partners in Indonesia to ensure our inheritance consultancy service is carried out with trustworthiness and aligns with Islamic principles,” said Sukarna.

For BSI’s commitment in promoting sharia-based wealth management ecosystem, BSI managed to won two international awards from Islamic Retail Banking Awards (IRBA) as “The Strongest Islamic Retail Bank in Indonesia 2023” and “Excellence Award for Priority Banking in Indonesia 2023”.

This award is given according to the ranking of global sharia banks made by Cambridge Islamic Financial Institution, involving over 130 sharia banks across the globe.

“With these awards, BSI Prioritas further reasserts its commitment to be a reliable financial partner for its users by complying with sharia principles and high-quality wealth management,” Sukarna concluded. (*/ZH)