Jakarta | The Indonesian Credit Guarantee Public Company (Perum Jamkrindo) and PT Jamkrindo Syariah participated in the third annual congress of the Indonesian Association of Islamic Economists (IAEI). This form of appreciation was shown by opening a Jamkrindo booth at the event, which took place at the Danapala Building, Ministry of Finance, Jakarta, on Thursday (30/4).
Perum Jamkrindo considers IAEI a partner that helps promote the role of Islamic economics related to Micro, Small, and Medium Enterprises and Cooperatives (UMKMK). “Moreover, Perum Jamkrindo has a subsidiary, PT Jamkrindo Syariah, making this congress a perfect opportunity for us to socialize our products,” stated Perum Jamkrindo in Jakarta, Thursday (30/4).
As is known, Perum Jamkrindo, as the only state-owned enterprise (BUMN) operating in the guarantee sector, is highly concerned with the UMKMK sector. Jamkrindo and Jamkrindo Syariah hope that socialization to the financial community, especially the Islamic economic community at this congress, can bridge financial institutions with UMKMK players.
At the Jamkrindo booth, various flagship products of Perum Jamkrindo were showcased, including:
- People’s Business Credit (KUR) Guarantee;
- General Credit/Financing Guarantee;
- Micro Credit/Financing Guarantee;
- Construction & Goods/Services Procurement Credit/Financing Guarantee;
- Multipurpose Credit/Financing Guarantee;
- Goods Distribution Guarantee;
- Bank Guarantee/Counter Guarantee;
- Surety Bond;
- BPR/BPRS Credit Guarantee;
- FLPP Prosperous Mortgage Credit Guarantee;
- Custom Bond;
- Cargo Agency Guarantee;
- Invoice Financing Guarantee.
Meanwhile, PT Jamkrindo Syariah’s products include eight guarantee (kafalah) products, namely:
- General Financing Kafalah;
- Multipurpose Financing Kafalah;
- Construction and Goods/Services Procurement Financing Kafalah;
- Micro Financing Kafalah;
- Financing Kafalah for BPRS;
- Counter Bank Guarantee Kafalah;
- Program Financing Kafalah;
- Other Financing Kafalah.
As information, Micro, Small, and Medium Enterprises and Cooperatives (UMKMK) dominate Indonesia's business landscape. Approximately 99% of the 57.54 million business actors in Indonesia are UMKMK. Unfortunately, despite this majority, UMKMK players still struggle to access capital. Although they are considered feasible to obtain funding, they are often deemed unbankable and face difficulties meeting credit requirements due to collateral issues. This is where Jamkrindo’s role, also as a member of the Indonesian Credit Guarantee Companies Association (ASIPPINDO), becomes essential.
The President Director of Perum Jamkrindo, Diding S. Anwar, who also serves as Chairman of ASIPPINDO, stated that credit guarantees greatly assist those with economically feasible and prospective productive businesses but are not yet creditworthy (not bankable) or face challenges in fulfilling collateral requirements. UMKM players are still considered less competitive than large companies in obtaining credit.
ASIPPINDO expressed optimism that it could help meet credit distribution needs in the UMKMK sector through guarantees, with capital capacity reaching over IDR 100 trillion. Of this amount, IDR 77 trillion is contributed by Perum Jamkrindo, which is one of the 19 ASIPPINDO members.
The IAEI congress itself was opened by Vice President Jusuf Kalla. The event was attended by several ministers from the Working Cabinet and notable financial and academic figures in Indonesia, including National Development Planning Minister Andrinof Chaniago, Governor of Bank Indonesia Agus Martowardojo, Chairman of the OJK Board of Commissioners Muliaman D. Hadad, Chairman of DSN MUI K.H. Maaruf Amin, and Mohammed Ishthiaq Akbar from the Islamic Development Bank.
Currently, Minister of Finance Bambang P.S. Brodjonegoro has been appointed as Chairman of IAEI. In carrying out its activities, IAEI collaborates with several institutions, including Bank Indonesia, OJK, the Ministry of Finance, Bappenas, the Deposit Insurance Corporation, the Ministry of Religious Affairs, and several related institutions. (team)