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Omit Arabic terms in sharia financial products: BI
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Nahdlatul Ulama central board chairman Said Aqil Siradj (fifth right) along with NU board members pose during the launch of Cipta NUsantara Syariah Berimbang in Jakarta on June 17. (Courtesy of http://www.nu.or.id//-)
B
ank Indonesia (BI) wants the Islamic financial industry to use more familiar names, instead of unfamiliar Arabic terms, to attract a wider customer base and help people to better understand sharia-based products.
"Customer comprehension around sharia products is limited and the use of Arabic terms in branding products is among the contributing factors [to that problem]," BI Deputy Governor Hendar said during the launch of a BI sharia economy guideline book in Surabaya on Wednesday.
Sharia-based financial institutions, according to Hendar, should start to introduce more familiar “brand names”.
National Sharia Board member Adiwarman Azwar Karim agreed with the central bank’s idea, saying that more “Indonesianized” brand names for financial products could help financial institutions attract more customers.
"But later, we must still introduce the Arabic terms because Arabic is a part of the identity of sharia products," he added. (ags)
