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Indonesian Digital Wallet Provider OVO Introduces Shariah Compliant Mutual Fund Product Indonesia’s digital wallet provider OVO has introduced a Shariah-compliant mutual fund product, which reportedly offers a fairly low buy-in for a product of its kind (less than $1). It lets investors instantly cash out their funds in real-time. The Syariah Syailendra OVO Bareksa Tunai Likuid mutual fund product is being offered via the OVO app with assistance from Indonesia’s fund manager Syailendra Capital and its business partner Bareksa. The company’s management noted that by setting the minimum investment threshold to a highly competitive IDR 10,000 (equivalent to SGD 1 or $ 0.70) and enabling investors to easily access their money at any time to conveniently pay for items, OVO has removed major barriers to investing. ....
Indonesia digest: OVO-Prudential Indonesia, Warung Pintar-Reckitt, LinkAja-SRC team up OVO collaboration with Prudential Indonesia, in launching digital sharia insurance product April 28, 2021 OVO has partnered with Prudential Indonesia to launch a digital sharia life insurance product; Reckitt has partnered Warung Pintar for access to 500,000 warungs; LinkAja is collaborating with SRC to offer digital payments in stalls. OVO partners Prudential Indonesia for sharia life insurance Grab-backed digital wallet OVO has partnered with PT Prudential Life Assurance (Prudential Indonesia) to launch a digital sharia life insurance product PRUTect Care-Hospital Cash available on the OVO app. Besides the basic death benefit it offers daily hospital cash benefit, daily hospital cash (ICU), permanent disability due to total accident benefit, death benefit due to infectious diseases, and death benefit due to accident. Premiums start from around 5,000 rupiah (US$0.34) ....
Indonesian e-wallet unicorn OVO has expanded its partnership with Prudential Indonesia to launch a digital shariah life insurance product with affordable premiums. The Asuransi Jiwa Kumpulan Syariah PRUTect Care product is provided by Prudential Indonesia through insurance broker PT Salvus Inti and can be accessed through OVO’s app. It is designed to offer users a highly affordable, highly accessible, shariah-compliant life insurance product. This arrangement gives Prudential Indonesia access to OVO’s large user base nationwide, spanning all of Indonesia’s 34 provinces. Subscribe to our Monthly Fintech News Indonesia Newsletter Users have a choice of monthly or yearly contribution payment schemes, starting from around IDR 5,000 (US$0.34) per month. ....
Indonesian digital wallet provider Manulife Aset Manajemen Indonesia (MAMI) and its partner Bareksa in order to introduce an instant redemption mutual fund. OVO stated that the new offering is the first of its kind in the Southeast Asian country. The money market mutual fund product is being offered via the OVO mobile app as part of its OVO Invest feature from IDR 10,000 (appr. $0.71) onwards. OVO confirmed that the product also offers instant redemption. With this new product launch, OVO plans to improve the micro-investment space in Indonesia and make investing more accessible and lucrative to new or first-time investors. In 2019, there were just 1.7% of Indonesians that took part in the financial market according to data provided by the Financial Services Authority (Otoritas Jasa Keuangan). Entry barriers to investing might include lack of access to good investment opportunities, high capital entry requirements, payment issues and the relative illiquidity ....
Sharia economy highly resistant to crisis: economist 13th December 2020 A screenshot of State Enterprises Minister Erick Thohir at a webinar on Sharia Economic Outlook ANTARA/Tangkapan layar Youtube Republika official There are a lot of common tasks to be accomplished in 2021 Jakarta (ANTARA) - Sharia national economy which relies on the real sector is highly resistant to a crisis situation, Professor Dian Masyita of the School of Economics and Business of Padjadjaran University (Unpad) said here on Saturday. The real sector plays a role in fulfilling the people s basic needs and has a wide-ranging multiple effect on many fields including the creation of jobs, she said. ....