REPUBLIKA.CO.ID, JAKARTA -- Indonesia's largest lender of micro loans, PT Bank Rakyat Indonesia (BRI) manages trustee assets of 9.1 trillion IDR from nine major sectors in Indonesia. About 75 percent of its clients are from oil and gas sector, capital markets and infrastructure.
"BRI became the first bank, which got trust service license from Bank Indonesia (BI)," BRI Finance Director, Achmad Baiquni said on Thursday.
In oil and gas sector, BRI becomes the largest fund manager of Abandonment Site Restoration (ASR) worth 140 million USD out of 345 million USD of national ASR fund. The state owned bank already provides trustee business before BI Regulation published.
In period of 2007-2010, BRI acted as government agent in distribution of state funds in scheme of Treasury Single Account worth 900 trillion IDR per year. BRI also becomes the first bank in Indonesia, which runs securitization assets with trustee principle.
BI has published Regulation No. 14/17/PBI/2012 on Bank Business Activity in the Form of Trust. It aims to control supply of foreign exchange through banking services that supports management of foreign exchange and improves competitiveness in domestic banking system.
Statistically, Indonesia manages about 16 million USD of export transaction from oil and gas sector.
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