Could you provide a brief journey of how you arrived where you are today?
My career in banking started from 1996–1999 when I served as assistant to the president director and corporate secretary of Bank Duta. Then from 1999–2000 I was head of the communications team of the merger of eight banks to Bank Danamon.
Thereafter, between 2000 and 2002, I served as the corporate secretary/divisional head at Bank Shariah Mandiri.
I joined Bank Muamalat in 2003 as special staff to the president director and was appointed as director in 2005.
What does your role involve?
As one of the directors of Bank Muamalat Indonesia, my roles are to oversee the bank’s operations while participating in conferences and seminars to further improve the service of the bank.
What is your greatest achievement to date?
I was involved in the production of a new product, namely Shar-ε, that has been awarded the most innovative product in customer modes of entry in Indonesia.
Which of your products/services deliver the best results?
Shar-ε provides online access through the Post Office network in every province of Indonesia, allowing cardholders to deposit money in any designated Post Office that bears the Shar-ε signage. The card can also be used as a debit card at more than 20,000 merchant debits in Indonesia.
What are the strengths of your business?
As the first Islamic bank, the pioneer and the guardian of the Islamic banking industry in Indonesia, we have a very strong brand, we are sound and healthy, have widespread networks and a grass roots customer base all over Indonesia.
Our bank has also a very strong bottom line where our net profit for 2005, after zakat, increased more than 110% from the result achieved in 2004.
What are the factors contributing to the success of your company?
- Strong corporate values and culture: all crew (I don’t call them employees) have been producing their best efforts with a positive attitude and ethics.
- Godly corporate governance is in place, incorporating also the spiritual aspect of corporate governance.
- Increased capital.
- Increased networks of branches, including Post Office online in Indonesia.
- Loyal customers and business partners in both deposits and financings.
- Never-ending innovation and improvement process, and the sharing of Power, Information, Knowledge and Reward (PIKR). This concept is one the most influential concepts in our management to build teamwork.
What are the obstacles faced in running your business today?
There are no fundamental obstacles. What we need for the future is a capital increase. Indonesia is a promising country for the Islamic banking industry.
Where do you see the Islamic finance industry, maybe in the next five years?
The growth in assets will be more than 60% per annum. More Sukuk issuance and an active Islamic insurance or Takaful market.
Name one thing you would like to see change in the world of Islamic finance?
As Islamic finance is a very prospective industry, it is time for market players, investors, regulators and governments to take action.
Bank Muamalat Indonesia’s mission is to become a role model among the world’s Shariah financial institutions, emphasizing entrepreneurial spirit, managerial excellence, and innovative investment orientation to maximize value to stakeholders.
Bank Muamalat Indonesia was established in 1991, endorsed by the Indonesian Council of Ulemas (MUI) and the Government of Indonesia, and commenced operations in May 1992. The bank is the first and leading Islamic bank in Indonesia, with a growing array of products and services.