Aladin Bank Will Increase Capital More Than IDR 3 Trillion

PT Bank Aladin Syariah Tbk (BANK) will increase its capital this year with a target fund of more than Rp 3 trillion. This is done to meet the minimum core capital requirements that have been set by the Financial Services Authority (OJK).

Aladin Bank Will Increase Capital More Than IDR 3 Trillion

Director of Aladin Syariah Bank, Dyota Mahottama Marsudi, said that the additional capital would be carried out in one or two stages.

"The target for additional capital is more than Rp 3 trillion. There are several instruments that we can use to increase this capital, such as rights issue, private placement or subordinated debt. So that will be chosen according to the situation and conditions in the market," he told the editor. KONTAN, Wednesday (9/2).

As is known, Bank Aladin will hold an Extraordinary General Meeting of Shareholders (GMS) on February 10, 2021. The agenda is asking for approval regarding additional capital and also changes in the composition of the management.

Dyota added, Aladin Global Ventures is still committed to being the controlling shareholder (PSP) of Aladin Bank. However, the company owned by entrepreneur John Dharma Kusuma will cooperate with strategic investors to develop this digital Islamic bank.

"Controlling shareholders know the sharia market is too large. If it is absorbed alone, it will be too complex, so it must be worked on together with other partners. So it is possible to take new investors," he said.

When asked whether Alfamart would become a new investor after Aladin Bank collaborated with the retail chain company, Dyota neither denied nor confirmed it.

"I can't answer, it's sensitive. Just wait for the game date," said Dyota

Alfamart is the first collaboration partner of Aladin Bank. After the Aladin Bank application was released at the end of last year, this bank has registered 160,000 customers until February 9, 2022.

According to Dyota, most of the customers were contributed by collaboration with Alfamart.

Through collaboration with Alfamart, Aladin Bank explores all potential services to work on. This digital bank can use cashiers in all of the retail company's more than 17,000 outlets to help with the education process and digitally opening accounts at Aladin Bank.

Alfamart can also facilitate cash withdrawals and deposits, payments and facilitate transfers.

"Alfmart cashiers can serve customers easily because this is a simple process. Moreover, they are used to doing this for services from financial service partners that have been partnered with Alfamart so far, such as e-wallets and other banks," explained Dyota.

He said the number of Alfamart ecosystems that Aladin Bank could target was very large. Not only in terms of consumers who shop, but there are also employees and vendors.

For employees, the bank will facilitate financing services in the form of cash receipts and consumer financing.

Kasbon service is provided when Alfamart employees need funds before the payday date arrives. Aladin Bank will disburse cash and later will be deducted from salary.

"For suppliers, we will also provide financing facilities because most of them are MSMEs," added Dyota.

To create products, Aladin Bank will adapt to the needs of the partner ecosystem. Dyota said that his party did not create a product before it was marketed simultaneously to customers of all partners who had been partnered with.

Therefore, the products offered by one partner customer may be different from another partner customer.

In addition to Alfamart, Aladin Bank has also established partnerships with Halodoc, Facebook, and the Hajj Financial Management Agency (BPKH).

Dyota revealed, Bank Aladin Syariah has currently gathered many new partners but will be announced gradually to the public.

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