Permata Bank once again won the trust of strategic partners to help drive development in Indonesia. Located at the head office of the Indonesian Export Financing Institution (LPEI), on October 4, 2019, Permata Bank and LPEI had signed a cooperation agreement for bank credit guarantee. The agreement was signed by the Executive Director of Indonesia Eximbank, Sinthya Roesly, and President Director of Permata Bank Ridha Wirakusumah. The signing ceremony was attended and witnessed by Permata's Compliance Director, Dhien Tjahajani, Permata’s Wholesale Banking Director Darwin Wibowo, and senior management teams from each party.
This agreement between LPEI and Permata Bank is an implementation of the regulations mandated by LPEI in the Act, which is providing guarantees for bank loans that are partners in providing export transaction financing that has been given to Indonesian exporters. The implementation of this provision is also facilitated by the Financial Services Authority so that LPEI as an institution that has sovereign status can provide guarantees for banks by weighting ATMR (Risk-Weighted Assets Ratio) by 0%, holding liquid collateral from its borrowers. Then, banks must also abolish the Legal Lending Limits from (BMPK) or Maximum Distribution Funds Limit (BMPD) for loans that granted to exporting companies as long as they are approved by Indonesia Eximbank. Several things that became the scope of the bank loan guarantee cooperation provided by LPEI to Permata Bank included:
"We appreciate the opportunity to become the first bank to be appointed as a partner in this collaboration. With Permata Bank's banking experience as an efficient development agent accompanied by LPEI's credibility, we hope this agreement can contribute to encouraging export foreign exchange growth as well as a tangible form in supporting the Indonesian government's program,” said President Director of Permata Bank, Ridha Wirakusumah.
Executive Director of Indonesia Eximbank, Sinthya Roesly stated, "This agreement is one of our steps to increase business exposure in Guarantees and Insurance, whereby guaranteeing bank loans, LPEI reinforces its position as a credit enhancer to encourage the expansion of banking shares to provide credit to the oriented sector export.”
This credit guarantee cooperation in the future is expected to increase exporters' access to funding sources to increase business capacity and ultimately increase national exports.
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