Jakarta – Bank Tabungan Negara (BTN) is collaborating with the Indonesian Credit Guarantee Corporation (Jamkrindo) in providing general financing guarantees for BTN iB for working capital and investment. This cooperation benefits the community using BTN's sharia financing scheme, as Jamkrindo will guarantee the financing.
The memorandum of understanding (MoU) was signed by BTN Director Irman Alvian Zahiruddin and Jamkrindo’s Chief Operating Officer Herry Sidharta.
The MoU serves as the foundation for both parties, covering the scope of general financing guarantees and SPK financing guarantees.
"General financing guarantees are intended to provide financing guarantees for working capital or investment financing given by Bank BTN to prospective borrowers, with a value of up to Rp250 million," said Irman, on Thursday (11/7/2013).
There is also an SPK financing guarantee provided as a guarantee for project development financing and the procurement of goods/services funded by the state budget (APBN), regional budgets (APBD), state-owned enterprises (BUMN) and regional-owned enterprises (BUMD), with a maximum financing value of Rp500 million.
He explained that the collaboration between Bank BTN and Jamkrindo is a follow-up to the business plan already set by the company.
The partnership with Jamkrindo is expected to fully protect the community that has been utilizing the sharia financing facilities provided by Bank BTN.
Previously, Jamkrindo had already provided credit or financing guarantees to Bank BTN.
Herry noted that the credit or financing guarantees provided to Bank BTN up to the first semester of 2013 had reached a total outstanding amount of over Rp2 trillion.
The guarantee coverage is provided to support financing for People’s Business Credit (KUR) and non-KUR financing distributed by Bank BTN, both conventional and sharia.
Currently, Bank BTN Syariah still operates as a sharia business unit (UUS). In the future, the UUS may be spun off to become an independent entity.
"With the business opportunities that sharia offers, we have prepared funds of Rp2 trillion for commercial financing and Rp1 trillion for consumer financing in 2013," stressed Irman.