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View all search resultsMandiri opens three regional treasury offices
JAKARTA: Indonesia’s largest lender PT Bank Mandiri (BMRI) opened three new regional treasury offices in Batam, Surakarta and Denpasar on Monday, hoping to tap into incoming foreign exchange (forex) inflows from export activities
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J
AKARTA: Indonesia’s largest lender PT Bank Mandiri (BMRI) opened three new regional treasury offices in Batam, Surakarta and Denpasar on Monday, hoping to tap into incoming foreign exchange (forex) inflows from export activities.
Bank Mandiri president director Zulkifli Zaini said the move came in light of Bank Indonesia’s (BI) regulation that requires exporters to store their forex earnings at local banks, which the central bank said could draw in about Rp 30 trillion (US$ 3.25 billion) in forex.
“Hopefully by the time that the regulation comes into full effect, we will be prepared with the needed infrastructure and can nab a fraction of the forex influx,” Zulkifli told reporters after the launching ceremony of the new treasury offices in Jakarta.
The decision to open the offices in those three cities came as BMRI saw the potential for forex transactions in each region, such as Batam, Riau islands, with close proximity to Singapore and Denpasar, Bali, with its burgeoning tourism industry.
