Governor strengthens Bank Jatim through global sharia collaboration

Surabaya (ANTARA) - East Java Governor Khofifah Indar Parawansa is strengthening Bank Jatim through a collaboration with Maybank Islamic Berhad aimed at developing Islamic finance, the halal ecosystem, and remittance services for Indonesian migrant workers in Malaysia. “We welcome this cooperation initiative as part of a strategic alliance that is not only oriented towards commercial aspects but also strengthens inclusive and value-based financial services,” said Governor Khofifah in a statement received in Surabaya on Thursday. Khofifah emphasised the importance of strengthening Bank Jatim’s institutional capacity, particularly the development of its sharia business unit supported by professional human resources in Islamic finance. “We want the sharia business unit at Bank Jatim to be strengthened with human resources who truly have an educational background in Islamic finance, not just a transformation from conventional banking. This is important to ensure the quality and integrity of sharia financial services,” she said. She explained that this synergy will also strengthen Bank Jatim’s role in the Bank Business Group (KUB) scheme together with five other regional development banks to expand the captive market, inter-regional collaboration, and increase the scale of service economics. In addition, digital innovation through the development of the third-generation J-Connect is an important part in driving financial inclusion, including expanding access to services for East Java residents in Malaysia. “This collaboration is expected to accelerate Bank Jatim’s transformation into an adaptive, competitive financial institution capable of reaching a wider society,” said Khofifah. Meanwhile, CEO of Maybank Islamic Berhad, Mohamad Yasin bin Abdullah, stated that the meeting was a follow-up to the exploration of cooperation between Bank Jatim and Maybank. “The Maybank Group is currently positioned as one of the largest Islamic banking entities in the world. We see East Java as a highly strategic region, both demographically and geostrategically,” he said. He also highlighted the potential for developing the halal industry ecosystem as part of the global Islamic finance expansion strategy. “The halal industry has great potential to expand the sharia financial market. We see strong synergy opportunities with East Java in building a comprehensive halal ecosystem,” he said. Maybank also appreciated Bank Jatim’s strategy through the KUB scheme and digital innovations. Plans for synergy in developing remittance services for Indonesian migrant workers from East Java and KUB regions are expected to enhance the security and efficiency of cross-border transactions.