Jakarta, CNBC Indonesia \u2013 PT Bank Jago Tbk. (ARTO) has discussed the\npossibility of spinning off Jago Syariah. The digital bank acknowledged\na desire to grow to a sizeable scale.<\/p>\n
Waasi Sumintardja, Head of Sharia Business at Bank Jago, said both\nBank Jago and its Sharia business unit are still young. Bank Jago was\nestablished in 2020, while Jago Syariah was launched in 2021.<\/p>\n
He noted that the group would comply with the mandatory spin-off\nrequirements once they are met, but the primary focus of Jago Syariah is\nto grow bigger.<\/p>\n
\u201cBecause we are only four years old, we are still in the early\nstages,\u201d Waasi told a media briefing at Bank Jago\u2019s headquarters on\nWednesday (4 March 2026).<\/p>\n
He added that becoming large is not only about assets, but also the\nnumber of users and customer satisfaction. \u201cFor Jago and Jago Syariah,\none of the most important things is the users and their satisfaction.\nBecause the figures will follow,\u201d he said.<\/p>\n
He believes asset growth and scale will follow once the number of\nusers and satisfaction increases. \u201cWe believe it will follow; more\ndeposits lead to more financing, or more lending, but that comes later\nonce customers truly trust Jago and Jago Syariah,\u201d he said.<\/p>\n
As of December 2025, Jago Syariah had nearly 2.4 million customers,\nup 16.5% year-on-year.<\/p>\n
The goal-based saving principle is reflected in customers\u2019 use of\nKantong to manage finances according to financial goals, including for\nworship \u2014 from zakat and infak to umrah or hajj. More than 40,000\ncustomers have started planning worship through Kantong Haji and Kantong\nUmrah.<\/p>\n
Waasi added that Ramadan this year showed a unique pattern in Jago\u2019s\napp usage. More than 68% of customers performed zakat and sadaqah during\nthe pre-dawn to dawn period, and 53% of charity transactions were\ndirected towards honouring orphans through the Jago Amal feature.<\/p>\n
Meanwhile, Bank Jago\u2019s financial report for September 2025 showed\nJago Syariah assets at Rp2.86 trillion, while Bank Jago\u2019s total assets\nstood at Rp34.49 trillion.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bank-jago-arto-talks-about-spin-off-of-jago-syariah-1772679541", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }