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BNI and Indonesia Eximbank (LPEI) prepare insurance for MSME exports credit
PT Bank Negara Indonesia (Persero) Tbk or BNI (stock code: BBNI) continues to seek opportunities for growth as Indonesia’s global bank.
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BNI treasury and international director Henry Panjaitan (left), MSME Business Director Muhammad Iqbal, BNI president director Royke Tumilaar, Indonesia Eximbank executive director Rijani Tirtoso, Indonesia Eximbank managing director of institutional relationship Chesna Fizetty Anwar, Indonesia Eximbank managing director of business development, Maqin U. Norhadi and Indonesia Eximbank managing director of financing Dikdik Yustandi (right) during the signing of MoU between BNI and Indonesia Eximbank for MSME credit insurance. BNI and Indonesia Eximbank will provide assistance and training to encourage the Go Digital, Go Global and Go Productive upgrade programs.
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T Bank Negara Indonesia (Persero) Tbk or BNI (stock code: BBNI) continues to seek opportunities for growth as Indonesia’s global bank. To propel Micro, Small and Medium Enterprises (MSMEs) into going global, BNI is collaborating with Indonesia Eximbank (LPEI) in accordance with the BNI Xpora program’s three value propositions: Go Productive, Go Digital and Go Global to help MSMEs boost their capability, gain digital literacy and even expand their market overseas.
Witnessing the signing ceremony was BNI president director Royke Tumilaar, BNI MSME business director Muhammad Iqbal and BNI treasury and international director Henry Panjaitan along with Indonesia Eximbank chairman of the board of directors and executive director Rijani Tirtoso, Indonesia Eximbank managing director of financing Dikdik Yustandi and Indonesia Eximbank managing director of business development, Maqin U. Norhadi at the Grha BNI in Jakarta on April 25.
Royke said that the purpose of this collaboration is in line with BNI's commitment to support MSME partners so they can upscale and go global. BNI does not only act as an intermediary institution, but also as a collaborator that brings together MSME partners with stakeholders.
“We appreciate Indonesia Eximbank’s active role together with BNI in finding solutions to encourage MSME to not only leverage the domestic market but also the wider international market, '' he added.
According to Royke, BNI has the ample infrastructure to support Go Global for MSME, with the hero program being BNI Xpora. Firstly, its advantages include a special program for financing MSME exports in which BNI can offer promising interest rates and more flexible warranty requirements through cooperation with insurance companies.
Secondly, BNI has an extensive network of overseas branch offices that are well-connected with corresponding bank partners which enables MSMEs to carry out business matching and export transactions.
Thirdly, BNI has excellent cash management services that makes it easier for SMEs to make transactions. BNI’s cash management service is often recognized as the best among its peers, and was hailed as the Best Cash Management Bank in Indonesia in the Annual Best FI Awards.
“As a state-owned bank, we can act as a collaborator that brings together MSMEs with other stakeholders using the Open API (Application Programming Interface)," Royke added.
Rijani said that as fellow development agents, BNI and Indonesia Eximbank will have to work closely when developing various economic potentials within the country. Currently, Indonesia Eximbank is focusing on increasing the institutional function within the context of increasing exports, especially within the MSME segment.
Aside from financing, Indonesia Eximbank is also proactive in establishing a productive ecosystem which ensures the sustainability of the MSME segment's exports. It also aims to optimize strategic consulting services to nurture MSME exports more progressively.
“The meeting was only intended to formalize the format that we have. In truth, we’ve come a long way cooperating with BNI. This reaffirms BNI and Indonesia’s Eximbank to strengthen and expand the relationship,” she said.
About BNI Xpora
BNI Xpora answers the SMEs' needs for support in the face of global uncertainty. BNI Xpora has two ecosystems, namely the export ecosystem and the diaspora ecosystem, both of which are the focus of BNI's first strategy in supporting Indonesian MSMEs.
In the export ecosystem, BNI Xpora will act under three exporter personas: the established exporter, new exporters and indirect exporters.
Meanwhile, the diaspora ecosystem targets three diaspora segments. The first are Indonesian citizens with valid Indonesian passports living abroad, or Indonesians who have undergone naturalization to become foreign citizens; the second are foreign citizens of Indonesian descent; and the third are foreign citizens with a keen interest in Indonesia, especially business players.
At the Go Productive stage, BNI delivers fast and quality services through seven hubs including relationship managers and business managers under BNE, education and assistance to increase MSMEs’ capabilities, access to business tools, business diagnostics and convenient integrated financial services which includes credit with low interest rates and warranty.
Next is the Go Digital stage in which BNI collaborates with strategic partners including e-commerce and government agencies to open market access.
At the Go Global stage, BNI Xpora facilitates export business empowerment with access to incubation and B2B Matchmaking. BNI is actively conducting business matchmaking with overseas buyers through a network of overseas branch offices in six countries that gather market intelligence to help Xpora MSMEs obtain better export opportunities.
The Xpora program has great potential for development as it covers export and diaspora businesses around the world. Globally, there are 8 million diaspora with half of them from Indonesia. There are many business potentials to tap into ranging from payment and remittance to financing. Hopefully, the resulting loan distribution from the partnership can become one of the keys to success for BNI in supporting MSMEs to always go productive, go digital and go global.
