Efforts to continue to increase Indonesia’s export growth continue to be done with various new breakthroughs. One such breakthrough is done by PT Bank Negara Indonesia (Persero) Tbk (IDX:BBNI) or BNI by providing Japanese yen-denominated loans using the SBLC guarantee scheme for export-oriented companies.
The yen-denominated credit distribution was first implemented by the national bank channeled to a local export-oriented vehicle spare-parts manufacturer, PT Banshu Electric Indonesia.
BNI Director of Treasury and International Rico Rizal Budidarmo explained that the credit scheme uses a guarantee pattern of Standby Letter of Credit (SBLC) from parent company located in Japan and issued by BNI partner bank in Japan.
With this pattern, the risk assessment is also emphasized to Counterparty (Issuer Bank/SBLC Guarantee), not on the prospective debtor. This pattern also provides an alternative assurance that originally in the form of fixed assets into collateral from Japanese banks in the form of SBLC.
“The yen-denominated loan is made possible by the support of BNI branch located in Tokyo, Japan and also from BNI‘s Japanese counterpart, The Hyakujushi Bank Ltd., so that BNI can provide yen-denominated loans with competitive interests,” Rico said in an official statement, Friday (7/20/2018).
According to him, the SBLC loan scheme is relatively easy to apply to Japanese companies in Indonesia. “We only use the one year requirement for the company’s financial statements and SBLC guarantees from their Japanese banks.”
“The banks have to have cooperated with BNI. With the ease of the requirement, it is possible for the Japanese companies that have just operated for at least one year to get the financing facility,” he said.
Lending disbursement to Japanese companies is a form of BNI‘s commitment to encourage/support foreign investment, especially Japanese companies in Indonesia and at the same time provide comprehensive banking services to micro and small enterprise (MSE) customers.
BNI MSE customers are also Japan-based companies registered as customers of Japanese Regional Bank (JRB) which have worked with BNI.
“We expect other Japanese MSEs are also interested to get financing through this scheme. If there are Japanese companies that have used other banks of course they will refer them to other Japanese companies,” he added.