Promising Prospects for Shariah Digital Banks and Omnichannel in Indonesia: KNEKS

The onset of the pandemic has supported a significant shift towards digital banking services, according to Ventje Rahardjo, Executive Director of the National Islamic Finance Committee (KNEKS). Omnichannel services (combining online and offline elements) are also anticipated to contribute towards the development of the Shariah economy.

Why it Matters?

Shariah digital banks are expected to serve as models for developing Islamic financial services. Besides accessibility, standardisation of digital bank services is easier to maintain, thus making service costs cheaper. Both digital banking and omnichannel services are anticipated to encourage bankability and faster levels of Islamic financial literacy.

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