PT Bank Negara Indonesia Tbk (Persero) or BNI is committed to contributing to the success of the government's plan to channel financing for Indonesian Migrant Workers (PMI), one of which is through the People's Business Credit (KUR).
This step comes following the Government's plan to increase financing support for PMI by expanding financial institutions that can channel KUR PMI so that it is more accessible.
BNI President Director Royke Tumilaar said, as a bank with the largest global network in Indonesia, BNI has been actively involved in assisting the government in channeling People's Business Credit (KUR) for PMI since 2015.
“BNI's support for Indonesian Migrant Workers will continue to be carried out in line with the Government's program to increase access to financing for migrant workers,” Royke said in his written statement.
BNI noted that overall distribution of KUR PMI from 2015 to the end of 2024 reached IDR 900 billion with more than 48 thousand debtors. PMI in Taiwan contributes the most to KUR PMI distribution followed by PMI in Japan, Hong Kong and Singapore.
The realization of KUR distribution for PMI throughout 2024 amounted to Rp 25 billion to more than 900 debtors. KUR interest paid by PMI is in compliance with the Government’s determination of 6% annually.
The distribution of KUR PMI by BNI refers to government regulations and regulations of related ministries or agencies as well as banking analysis. Royke hopes that there will be regulatory support including from the Ministry of Protection of Indonesian Migrant Workers (KPPMI) in optimizing the distribution of KUR PMI in the future.
“Issues that require KPPMI's support include making KUR the main choice of pre-placement financing sources and affirmation of zero cost provisions in PMI placement countries,” said Royke.
Royke stated that the KUR program is tangible proof of BNI's presence as a government extension, allowing PMI to easily acquire financial services while working overseas until they return home to settle in the country.
“The potential for PMI departure in the future is quite large, so it is hoped that there will be synergy between policies, systems and proper implementation so that the distribution of financing to PMI can run smoothly,” said Royke.
BNI has also empowered PMI through various education and training programs. In February 2024, BNI held financial education for PMI in Hong Kong and in July 2024 BNI provided scholarships to PMI at the Open University.
BNI also undertakes business matchmaking initiatives for SMEs and diasporas living overseas. Through this activity, BNI collaborates with various international partners such as the Indonesian Embassies and Consulate Generals to create more opportunities for SMEs to expand their business abroad. BNI also selects the best SME products to ensure superior quality for international customers.