BSI has targeted to expand Western Union services to more than 1,300 branches throughout Indonesia.
Jakarta (ANTARA) - Public-listed PT Bank Syariah Indonesia (BSI) is collaborating with Western Union to expand the provision of remittance services for Indonesians in terms of transferring, receiving and sending money to more than 190 countries. "This collaboration will expand the scope of BSI’s services while encouraging remittance innovation in the digital ecosystem," said Kokok Alun Akbar, BSI Retail Banking Director, on Wednesday.

Akbar stated that the partnership with Western Union is an extension of their cooperation established many years ago, and there are 600 BSI branches that provide Western Union remittance services.

BSI aims to expand its Western Union services to more than 1,300 branches throughout Indonesia through this cooperation, and its remittance transactions total 75,000 per year, he added.

BSI will develop the remittance features on its mobile banking app and internet banking website, to enable customers to send or disburse cash using Western Union without having to come into branches, he further added.

BSI is innovating in remittance services by developing a partnership business scheme, to create centres for cash transfers and disbursement, as an expansion of the remittance network operating outside branches, he further said.

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Currently, BSI has more than 3,000 Laku Pandai networks or the “Financial Services Authority's (OJK's) Financial Services Without Office In Framing Inclusive Finance,” which can receive and disburse remittance funds in the near future.

K. Premmananth, Western Union's Singapore, Indonesia, and North Asia Head of Network, expressed his satisfaction at the expansion of the company’s relationship with BSI, as well as of its international remittance services to more locations in Indonesia.

"Together with BSI, we remain committed to maintaining an extensive service and working together to reach more customers," Premmananth said.

Erick Thohir, Minister of State-Owned Enterprises (BUMN), predicts BSI to rank among the world's top 10 Islamic banks, as its assets have surpassed Rp240 trillion.

"Because of this merger, BSI now has assets of more than Rp240 trillion and is predicted to be included in the top 10 Islamic banks in the world. Therefore, we pray for and continue to support the management of BSI, to enable it to realize its noble ideals to create a comprehensive sharia ecosystem not only in Indonesia but also in the entire world," Thohir noted during a discussion at ISEI Jakarta in March this year.

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Translator: Astrid H, Kenzu T
Editor: Rahmad Nasution
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