Encourage Increased Export Transactions, Bank Jatim and LPEI Do MoU

Date: 17 november 2023

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SURABAYA, NOVEMBER 16, 2023. PT Bank Pembangunan Daerah Jawa Timur Tbk (bankjatim) continues to demonstrate its commitment to advancing the regional and national economy. This is realized through various collaborations with many parties. One of the latest is synergizing with the Indonesian Export Financing Agency (LPEI) or Indonesia Eximbank through the signing of an MoU on Thursday (11/16). Located in the Semeru Room bankjatim Head Office, the MoU was signed by the Director of Finance, Treasury and Global Services bankjatim Edi Masrianto and Managing Director of Business Development LPEI Maqin U. Norhadi. Also present to witness the signing of the MoU were bankjatim President Director Busrul Iman, bankjatim Micro, Retail and Medium Director R. Arief Wicaksono, and LPEI Executive Director Riyani Tirtoso.

Busrul explained, bankjatim has committed will continue to realize economic progress, including in encouraging increased exports. Therefore, the MoU between bankjatim and LPEI related to Financial Services is expected to be an accelerator of economic growth both in East Java and Indonesia. "In essence, we will continue to strengthen synergies with LPEI to encourage the utilization of financial transactions to support export activities," he said.

Busrul explained, the scope of cooperation between bankjatim and LPEI is quite broad. That includes funding, lending, and financial services. For funding, things that are cooperated include cash management services for the management of foreign exchange export proceeds of LPEI debtors, account opening services for LPEI managed exporters, operational fund management for LPEI managed exporters, potential Jatim Prioritas services for LPEI managed exporters (in accordance with the provisions), and term deposits in rupiah and foreign exchange.

Then on the lending side, the cooperation includes co-financing services for working capital and investment for exporters managed by LPEI or bankjatim. Finally, financial services in which there are potential trade finance transactions (L/C, SKBDN, remittance). "This cooperation is part of bankjatim's business development and at the same time encourage the development of LPEI's business in the future," said Busrul.

According to him, increasing exports must continue to be pursued consistently by all stakeholders. Because, with the surplus balance of trade will turn the wheels of the economy and help encourage the creation of jobs when there is an increase in demand for goods and services.

Meanwhile, on the occasion, Riyani Tirtoso also said, cooperation with bankjatim is a strategic step that will help LPEI in providing the best service to customers who are exporters. She believes the synergy and collaboration built with bankjatim can encourage the creation of competitive businesses and contribute to national exports in a sustainable manner. "We hope that this cooperation can continue to be developed and improved," he said.

Riyani said, the success of East Java Province in improving the economy through exports is a strong basis for LPEI to establish cooperation with bankjatim as a pilot project in order to increase the role of both institutions to encourage sustainable economic growth and foreign exchange of East Java. "We will provide support to bankjatim in increasing its capacity and role as a driver of export growth in East Java. The support is provided in the form of financing cooperation, guarantees, insurance, cash management systems, development of foreign exchange pendulum villages, and other banking services," he said.