Sun Life Indonesia and Bank Muamalat Indonesia are launching Bancassurance Week 2025 as part of their joint commitment to strengthen financial literacy, expand inclusion, and raise public awareness about the importance of Sharia-compliant financial protection.

Held simultaneously across 27 Bank Muamalat branches in various Indonesian cities, this campaign brings direct financial education to the public through a collaborative, interactive, and accessible approach.

Challenges in Sharia financial literacy remain significant. According to the latest 2024 survey by the Financial Services Authority (OJK) and the Central Statistics Bureau (BPS), Sharia financial literacy has shown a notable increase from 9% to 39%.

However, this figure still lags behind general financial literacy, which has reached 65%, and national financial inclusion at 75%.

Meanwhile, the Sharia market continues to grow. National Sharia financial industry assets reached Rp2,884 trillion by December 2024, with the Sharia insurance sector projected to grow 6–8% year-on-year.

Through Bancassurance Week 2025, the initiative aims to deliver financial education in an engaging, relevant, and accessible manner.

“Uneven literacy levels highlight the need for this effort. At the same time, Indonesia’s Sharia insurance market has immense potential. This program bridges that gap and expands access to Sharia-based financial protection,” the company stated.

Under the theme “BERSINAR” (Together with Sun Life: Smarter, Bigger, Smoother), the campaign targets multiple segments, including:

  • Enhancing bank marketers’ capabilities through refresher training and interactive educational content like daily quizzes and video competitions.
  • Providing meaningful customer experiences via branch activities, including direct education, Sharia protection consultations, quizzes, daily prizes, and exclusive merchandise.
  • Strengthening strategic collaboration through Sun Life management visits to Semarang, Surabaya, and Makassar branches to support on-ground literacy efforts.

Beyond education, the campaign introduces a flagship Sharia-based product: Salam Hijrah Sejahtera Insurance (SAHAJA), now accessible directly through Bank Muamalat’s customer service.

SAHAJA is a Sharia-compliant traditional life insurance product designed to reach broader demographics, including those previously underserved by Sharia protection solutions. Key features include:

  • No medical exams for policy issuance, ensuring inclusivity.
  • Life coverage up to billions of rupiah during the policy term.
  • Potential 150% contribution refund at contract maturity.
  • Special protection during holy months and Hajj pilgrimages, aligning with long-term spiritual planning.

SAHAJA also addresses the need for financial instruments that facilitate Hajj preparations. With long wait times and rising costs due to inflation, it offers families a structured way to secure both life protection and Hajj funds.

“Inclusion cannot happen without education. Bancassurance Week reinforces Bank Muamalat’s role as an active provider of Sharia financial literacy,” the bank noted.

The Sun Life-Bank Muamalat partnership reflects strong synergy in advancing Indonesia’s Sharia financial industry. “This initiative demonstrates our commitment not only to business growth but also to building a financially and spiritually resilient society,” the statement concluded.