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Ex-deputy finance minister joins Bareksa
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In a first for Indonesia, the Financial Services Authority (OJK) has granted a mutual fund selling agent (APRD) license to a financial investment portal. Bareksa is the first online portal to have been granted APRD. (Courtesy of/Bareksa.com)
M
ahendra Siregar (53), a former deputy finance minister and chief of the Investment Coordinating Board (BKPM), has joined financial investment portal Bareksa.com as an advisor. Bareksa is the first portal to secure a mutual fund selling agency license in Indonesia.
Digital based-financial services are predicted to be the future not only for the banking sector but for capital markets as well, said Mahendra who is also a former deputy trade minister and a former CEO of Indonesia CEO.
“Therefore I believe Bareksa, which is designed and developed as a financial technology service, will not only grow fast but also have great potential to be a strategic partner for financial companies with the same visions and aspirations,” he said in a press statement on Friday.
Founder and CEO of Bareksa Karaniya Dharmasaputra said that the company was committed to supporting the Financial Service Agency’s (OJK) target to reach 5 million investors next year. Bareksa's internet-based financial service has significantly contributed to expanding its clients outside Java.
“Many of our clients are in remote areas outside Java, where conventional banks and finance offices are not yet available, but connected to mobile-Internet for 24 hours, which allows them to actively invest in the capital markets,” he said.
In the future, he added, financial technology would have a more strategic position to expand the number of local investors, especially individuals, thus maintaining market stability and reducing the market's dependence on foreign capital inflows.
“Bareksa’s experience shows that internet technology can be used effectively to increase the number of investors and investment values in a bid to strengthen the capital market’s foundations and stability,” Karaniya said.
The portal is currently in cooperation with 17 investment management companies, local and global, to sell mutual funds through its online platform. They include Danareksa, Bahana, Trimegah, Sinarmas, CIMB Niaga, Sucorinvest, Avrist, Maybank and Bank Mega.
