PT Jamkrindo Syariah (Jamsyar), a subsidiary of PT Jamkrindo, is actively involved in the National Economic Recovery Program (PEN) by providing guarantees for working capital financing channeled through Islamic banks. This guarantee is implemented in collaboration with PT Askrindo Syariah.
The cooperation agreement for the working capital financing guarantee was signed on Monday, July 27, 2020, at the Jamkrindo building in Jakarta. PT Jamkrindo's President Director, Randi Anto, explained that this agreement marks the continuation of prior collaborations between PT Jamkrindo and PT Askrindo with several general banks on July 7.
The cooperation agreement between PT Jamkrindo Syariah and PT Askrindo Syariah is implemented with PT Bank BRISyariah Tbk, PT Bank Syariah Mandiri, PT Bank BNI Syariah, PT Bank BTN Unit Usaha Syariah, PT Bank Jatim Tbk Unit Usaha Syariah, PT Bank Jateng Unit Usaha Syariah, PT Bank BTPN Syariah, and PT Bank Maybank Indonesia Unit Usaha Syariah.
The beneficiaries eligible for the guarantee are micro, small, and medium enterprises (UMKM) in the form of individual or business entities affected by the Covid-19 pandemic. These beneficiaries are eligible for working capital loans up to IDR 10 billion. Additionally, the beneficiaries should not be listed in the State Blacklist (DHN) and must have performing financing status as of February 29, 2020.
The President Director of PT Jamkrindo Syariah, Gatot Suprabowo, stated that they are committed to fully supporting the PEN program initiated by the government to protect, sustain, and enhance the economy of businesses affected by the Covid-19 pandemic.
"Through working capital financing guarantees, we want to ensure that UMKM can survive and recover, thereby contributing to Indonesia's economy," said Gatot.
The Covid-19 pandemic has severely impacted Indonesia's economy. To revive the economy, the government initiated the PEN program, one of which is the guarantee of working capital loans for UMKM through the Ministry of Finance Regulation No. 71 of 2020.
To implement the PEN program, the government has assigned PT Jamkrindo and PT Askrindo to provide government guarantees for this program. In cases where the beneficiaries require a Sharia-compliant guarantee scheme, PT Jamkrindo Syariah and PT Askrindo Syariah will handle it.
As of June 2020, PT Jamkrindo Syariah recorded a guarantee volume of IDR 15.66 trillion, an increase of 119.75% year-on-year. The company’s Kafalah Service Fee achievement was IDR 160.35 billion. By June 2020, PT Jamkrindo Syariah’s total assets reached IDR 1.22 trillion, growing by 115% compared to 2019.
"With capital of IDR 651.06 billion, growing by 116.74% compared to 2019, Insya Allah, PT Jamkrindo Syariah will be able to guarantee financing under the PEN program, which is expected to boost UMKM business growth and create more jobs in both the formal and informal sectors," said Gatot Suprabowo.
In reaching the market potential, he continued, PT Jamkrindo Syariah always prioritizes partner satisfaction by providing PEN financing guarantees with professionalism, agility, responsiveness, Sharia compliance, and innovation to support economic growth and the collective well-being.