The Aceh’s Qanun no.11 Year 2018 concerning Sharia Financial Institutions will be implemented on January 4, 2020. The Qanun is a statutory law that regulates the activities of Financial Institutions in realizing a just and prosperous economy for the Acehnese under the auspices of Sharia or Islamic law.
The said Qanun is a follow-up to Aceh’s Qanun no. 8 Year 2014 concerning the principles of Sharia which explicitly require that financial institutions operating in Aceh implement sharia principles.
As a form of compliance with the Qanun of Sharia Financial Institutions in Aceh, the Bank BCA will coordinate with BCA Syariah, which has officially been operating as a sharia commercial bank since 2010.
The Bank BCA will gradually transfer its services to BCA Syariah. As a first step, since
July 27, 2020, BCA had terminated the service for opening new account and advises its customers to open a new account at BCA Syariah. BCA will continue to develop service standards during the transition to cater to customer needs and comfort.
As of July 2020, the BCA Syariah branch network consists of 29 branch offices and 40 cash offices/ULS throughout Indonesia. BCA Syariah Banda Aceh is ready to serve customers in and around Aceh and will be followed by BCA Syariah Lhokseumawe and BCA Syariah Bireuen in 2021.
For more information, please contact Halo BCA 1500888 or simply mention us at Twitter account @HaloBCA.
Who does the Aceh’s Qanun No. 11 Year 2018 concerning Sharia Financial Institutions apply to?
- Every Muslim individual residing in Aceh or a legal entity conducting financial transactions in Aceh
- Every non-Muslim individual conducting transactions in Aceh
- Every non-Muslim, business entity and/or legal entity conducting financial transactions with the Aceh government and regency/city regions.
- LKS running business in Aceh.
- LKS outside Aceh but headquartered in Aceh.
What are the Sharia Financial Institutions?
Sharia Bank,
Sharia non-Bank Financial Institutions, and
Other Financial institutions.
