Bank Muamalat and Prudential Indonesia Establish Cooperation of Autodebit Payment for Life Insurance Contribution

Jakarta, 20 October 2019 - PT Bank Muamalat Indonesia, Tbk. (Bank Muamalat) and PT Prudential Life Assurance (Prudential Indonesia) today announced cooperation in the framework of providing payment facilities for the contribution of Prudential Indonesia's life insurance to customers of Bank Muamalat. The signing ceremony of the Cooperation Agreement (PKS) for both parties was carried out by Achmad K. Permana, Managing Director of Bank Muamalat and Jens Reisch, President Director of Prudential Indonesia.

As a country with the largest Muslim population in the world, the potential for developing sharia-based life insurance products in Indonesia is still very large. Unfortunately, Islamic financial literacy in Indonesia is still quite low. Therefore, Bank Muamalat and Prudential Indonesia are working together so that customers can more easily make premium payments and contributions through the Bank Muamalat autodebit facility.

Achmad K. Permana revealed, through this collaboration Bank Muamalat customers who are also Prudential customers can more easily make premium payments or contributions through service offices or through the electronic channel of Bank Muamalat.

"Through this innovation, it is expected that the trend of migrants will be wider society. We also want to show that the services owned by banks and Islamic insurance are not inferior to conventional, "he said.

Jens Reisch welcomes this collaboration. In his remarks he said that as a leading life insurance in Indonesia, Prudential always strives to provide added value to customers through each of its products and services.

"Through this partnership, we provide wider payment options for our customers. This autodebit system will help Prudential Indonesia's customers to pay their insurance contributions on time, so they can continue to be protected from various risks. This collaboration is also in accordance with our mission to build a better future for the people of Indonesia by increasing literacy and financial inclusion, welfare and overall health, "he added.

Currently, Bank Muamalat customers can register this autodebit system only by filling in the Sharia Bank Account Debit Authorization (SKPRBS) form which can be downloaded at www.prudential.co.id

Bank Muamalat and Prudential Indonesia Establish Cooperation of Autodebit Payment for Life Insurance Contribution

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