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Bareksa diversifies online services from corporate bonds to weddings

“Many Indonesians have limited access to bonds, even though bonds can improve their [financial] welfare,” Bareksa founder said.

Norman Harsono (The Jakarta Post)
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Jakarta
Sat, June 8, 2019

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Bareksa diversifies online services from corporate bonds to weddings “We want to give more opportunities for Indonesians to grow their incomes through bonds, gold and other financial instruments,” Karaniya said during Bareksa’s fifth anniversary event in Jakarta recently. (JP/Damar Harsanto)

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areksa, an e-marketplace for financial instruments, announced this week an ambitious plan to launch four new services in partnership with a separate company this year, just two months after it launched a partnership with e-wallet company OVO.

Bareksa founder Karaniya Dharmasaputra said his company would soon offer gold from trading platform IndoGold, corporate bonds from the Federal International Finance (FIF) Group, wedding savings plans in partnership with Bridestory and umroh (minor pilgrimage) savings plans for Grab drivers.

“We want to give more opportunities for Indonesians to grow their incomes through bonds, gold and other financial instruments,” Karaniya said during Bareksa’s fifth anniversary event in Jakarta recently.

Karaniya particularly emphasized the partnership with FIF Group, saying that selling corporate bonds were a critical and natural next step for Bareksa after it introduced the government’s bonds Retail Saving Bonds Series 003 (SBR003) last year.

The SBR003 is the first bond to be exclusively sold online.

“Many Indonesians have limited access to bonds, even though bonds can improve their [financial] welfare,” he said, “Thus, after offering mutual funds and government bonds, we are now working with the FIF Group to sell Indonesia’s first online retail corporate bonds.”

Bareksa said in a statement that it decided to work with the FIF Group, because the financing subsidiary of automotive giant Astra International was “one of the largest issuers of corporate bonds in Indonesia, with up to Rp 42 trillion (US$2.9 billion) worth of bonds issued [since 2002]”.

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