Today, Wednesday (28/11) at Hotel Shangrilla, Jakarta, Perum Jamkrindo launched a new product, the surety bond. The launch was carried out directly by Jamkrindo’s President Director, Diding S. Anwar, along with the management team.
“Surety bond is one of the bank guarantee products in the form of a project guarantee letter that can be traded,” said Diding S. Anwar.
Diding, who previously served as President Director of PT Jasa Raharja and has been at the helm of Jamkrindo for less than a month, replacing Nahid Hudaya, noted that in fact, a surety bond is a general insurance product. However, since 2008, the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) has allowed the guarantee industry to enter this business.
Through the surety bond product, Jamkrindo plans to target the association market involved in government projects, a type of construction business. Jamkrindo has prepared the necessary human resources (HR), technology and information (TI), as well as the operating standards for surety bonds.
He explained that Jamkrindo’s main business is to provide guarantees to Micro, Small, and Medium Enterprises (MSMEs) so they can obtain credit in the form of People’s Business Credit (KUR) as well as non-KUR. With Jamkrindo’s guarantee, small businesses that are not eligible for bank loans can still obtain them. “Well, this surety bond is for product diversification,” said Diding.
However, guarantees for KUR will remain the focus of Jamkrindo’s business, as this is related to the government program supporting MSMEs in obtaining bank credit.
Since its launch in 2007 until July 2012, 30 banks have distributed KUR. The number of MSME units that have received credit has reached 2,620,000, absorbing 3.5 million jobs, while the total value of credit disbursed has reached Rp43 trillion.
“This program drives the national economy and creates many jobs. Many small business owners have succeeded thanks to the KUR program,” Diding added.