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BNI bridges Indonesian and Japanese businesses at LCSF 2022
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Kotaro Kishi, BNI Tokyo relationship manager (left); Donny Hutabarat, Bank Indonesia (BI) executive director; BNI corporate and international banking director, Silvano Rumantir; Heri Akhmadi, Indonesian ambassador to Japan; Destry Damayanti, BI senior deputy government; Suahasil Nazara, vice finance minister and Hilman Tismawan, BI head representative at the Business Forum (right), on The Utilization of The Japan - Indonesia Local Currency Settlement Framework (LSCF) 2022 in Tokyo, on Friday. Through the BNI Tokyo branch in Japan, BNI was appointed as Appointed Cross Currency Dealer (ACCD) in Japan, improving banking transactions between Indonesia and Japan.
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T Bank Negara Indonesia (Persero) Tbk. or BNI (stock code: BBNI) continues to improve its overseas business performance. As a state-owned bank that has been mandated to explore the global market, BNI continues to optimize the performance of global-banking services while strengthening international business.
At the BNI Tokyo branch, BNI was appointed as Appointed Cross Currency Dealer (ACCD), improving banking transactions between Indonesia and Japan.
This step is expected to strengthen economic collaboration between the two countries with greater ease of banking services for customers in Indonesia and Japan.
The Bank Indonesia (BI) Tokyo representative office, together with BNI Tokyo, organized the Forum on The Utilization of The Japan - Indonesia Local Currency Settlement Framework (LCSF) 2022, which was held in Tokyo on Friday.
BNI invited 28 Japan Regional Bank (JRB) officials from every prefecture in Japan to attend virtually or in person. It was part of an effort to bridge business needs between Indonesia and Japan.
Also present was vice finance minister Suahasil Nazara; Heri Akhmadi, Indonesian ambassador to Japan; and Hilman Tismawan, BI head representative and representatives from JRB.
BNI corporate and international banking director, Silvano Rumantir explained that as an ACCD Bank, BNI Tokyo’s services include money transfer with the Japanese yen as local currency to the Indonesian rupiah without converting to US dollars first.
BNI Tokyo was appointed ACCD by BI and the Japan Ministry of Finance (JMOF) with four other Japanese banks. BNI hopes that this would decrease the dependency on the US dollar in the near future.
“We hope that this will be a catalyst for ease of transactions and trade for both countries using local currencies,” Silvano added.
He also stated that Local Currency Settlement (LCS) will be useful in mitigating the fluctuation of exchange rates experienced by Japanese companies while doing business in Indonesia.
As such, BNI via its Tokyo branch fully supports Japanese micro, small and medium enterprises (MSMEs) to expand their business in Indonesia. This is also due to BNI being one of Indonesia’s largest state-owned banks with a thousand representative offices within the country and six overseas branches.
Silvano also said that BNI has prepared diverse-banking services and products for individuals and institutions such as savings, cash management, loans and more. BNI’s products and services are guaranteed to meet the needs of its Japanese clients with financial services that are beneficial, informative and reliable.
“By utilizing the entirety of BNI services, and not just via BNI Tokyo, Japanese investors will reap various benefits from doing financial transactions with [Indonesian parties]. We hope that customers can take advantage of our complete service," he concluded.
