Supporting the Nation's Foreign Exchange Contributors, Bank Jatim is Ready to Disburse People's Business Credit (KUR) for Indonesian Migrant Workers (PMI).
Date: 16 april 2025Categories :
PONOROGO, April 16, 2025. PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) remains committed to supporting the government in financing Indonesian Migrant Workers (PMI). One of these efforts is through the People's Business Credit (KUR) program. This commitment was realized on Wednesday (16/4), when Bank Jatim's Ponorogo Branch signed a cooperation agreement (PKS) with P3MI PT Andhika Putra Mandiri concerning the disbursement of PMI placement KUR.
R. Arief Wicaksono, Bank Jatim's Director of Micro, Retail, and Sharia Business, explained that Bank Jatim's support for PMI will continue in line with the government's program to enhance financing access for migrant workers. The PMI Placement KUR is a special financing facility provided to prospective PMI to cover the costs of placement to the destination country.
'We at Bank Jatim are very supportive of migrant workers. This is because East Java province has extraordinary pockets for PMI placement. This collaboration is a good endeavor for both parties to realize the welfare of PMIs. Thus, when we disburse KUR to PMIs, it already has a clear legal basis,' he elaborated.
According to Arief, the KUR is tangible proof of Bank Jatim's presence as an extension of the government to provide easy access for PMIs to obtain financial services during their work abroad until they return to settle in their homeland. 'The potential for future PMI departures is quite large, so it is hoped that there will be a synergy between appropriate policies, systems, and implementation so that the financing disbursement to PMIs can run smoothly,' he asserted.
The requirements for the PMI KUR are also quite easy. Among others, applicants must be prospective Indonesian migrant workers, with a maximum loan ceiling of 100 million Rupiah or according to the determined cost structure, and a term equal to the employment agreement but not exceeding three years.
'Migrant workers are an important pillar for the Indonesian economy, considering their significant contribution to the country's foreign exchange earnings. Therefore, we must support them optimally. Today's synergy can be a good start to strengthen inter-institutional synergy for a better life for migrant workers,' Arief explained.
Bank Jatim, as a foreign exchange bank, also supports the transactions of PMIs departing abroad by providing Jconnect Remittance. This service is an inbound remittance/money transfer service from overseas to Indonesia, in synergy with Money Transfer Operators (MTO) in Malaysia (with Merchantrade Asia) and Hong Kong (with Chandra Remittance). This allows PMIs to utilize the MTO outlets spread across Malaysia and Hong Kong.
Furthermore, through this collaboration, Arief hopes to further strengthen Bank Jatim's role in providing financing access for migrant workers, while also creating an opportunity for the company to increase its fee-based income. 'We are committed to continually pushing for the acceleration and optimization of this PMI KUR disbursement so that it can be well-utilized by a wider audience,' he concluded.
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