JAKARTADAILY.ID – PT Sharia Multifinance Astra (SMA), the first sharia company of PT Astra International Tbk and the owner of the AMITRA brand, obtained a loan facility in the form of a Line Facility Sharia Financing Agreement of Rp200 billion from PT Bank Muamalat Indonesia Tbk.
The Line Facility is a revolving financing ceiling for a certain period of time which is run based on Sharia principles. This loan facility will be used to support business operations in channeling the Company's Sharia Financing through various products that are needed by the community.
President Director of SMA, Inung Widi Setiadji, said that this loan will be used to support the operations and business development of SMA and is expected to boost the company's performance in the future.
“This loan will be intended to support AMITRA's business development. In 2022, the Company is more optimistic in carrying out its business activities, considering that this year Saudi Arabia has reopened the Umrah pilgrimage from various countries, as well as the Hajj quota which was previously closed completely," said Inung in Jakarta, Monday, April 25, 2022.
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Bank Muamalat President Director Achmad Kusna Permana said the collaboration with SMA as a sharia-based financing company is in line with the Company's vision which really wants to focus on business in the Islamic segment.
Moreover, Bank Muamalat has just received an injection of fresh funds from the Hajj Financial Management Agency (BPKH) as the new owner with a total share ownership of 82.7%.
"We want to return to the khittah of Bank Muamalat as a bank owned by Muslims. So that the business strategy that we have launched is focused on this segment. This collaboration with SMA shows that the business prospects in this segment are still very wide open and will certainly have a positive impact on increasing the market share of the sharia industry in the country," he said.
The Line Facility Syariah Financing Agreement uses a Musyarakah contract with a maximum tenor of 5 years. SMA will optimize the use of the loan obtained in the development of the sharia financing service business.
Optimistic on Umrah Financing Potential
Director of SMA, Yulian Warman, expressed optimism about the potential for growth in Umrah financing along with fresh air from Saudi Arabia which has reopened the implementation of Hajj and Umrah.
"We are optimistic that this year the potential for Umrah financing in Indonesia will increase after being closed since the beginning of the 2020 and 2021 pandemic. Based on data before the pandemic in 2018-2019, the number of Indonesian pilgrims who performed Umrah was almost 1 million people," said Yulian.
So far, he continued, people are used to doing it with cash. In accordance with the MUI Fatwa, AMITRA socialized the Umrah product with sharia financing which received a positive response.
"One of the conditions for the obligatory Hajj or Umrah is being able or equal to Istitha'ah. There are two words capable of being able, namely being able in cash and being able to pay monthly, or the same as the financing that we offer. So, go for Umrah first, pay later," said Yulian.
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