Management of the Indonesian Credit Guarantee Corporation (Perum Jamkrindo) is working hard so that a new product, namely surety bond, can be launched before the end of this year. The surety bond is one of the counter bank guarantee products in the form of a project guarantee letter that can be traded.
“We are accelerating so that this new product can be launched soon,” said Jamkrindo’s President Director, Diding S. Anwar, at his office in Kemayoran, Jakarta, yesterday (3/10). Diding, who previously served as President Director of PT Jasa Raharja and has not yet been at the helm of Jamkrindo for a month, replaced Nahid Hudaya.
Actually, a surety bond is a general insurance product. However, since 2008, the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) has allowed the guarantee industry to venture into this business. Through the surety bond product, Jamkrindo plans to target the association market that handles government projects, a kind of construction business. Jamkrindo has prepared human resources (SDM), technology and information (TI), as well as surety bond operating standards.
Diding explained that Jamkrindo’s main business activity is providing guarantees to Micro, Small, and Medium Enterprises (MSMEs) so that they can obtain credit in the form of People’s Business Credit (KUR) as well as non-KUR. With Jamkrindo’s guarantee, small businesses that are not eligible for bank loans can obtain those loans.
“Well, this surety bond is for product diversification,” said Diding, accompanied by Jamkrindo’s Guarantee Director, Nanang Waskito. Nevertheless, KUR guarantees will still be Jamkrindo’s business focus because this is related to the government’s program in supporting MSMEs to obtain credit from banks.
Since its launch in 2007 until July 2012, there have been 30 banks distributing KUR. The number of MSME units that have received credit reached 2,620,000 units, and absorbed 3.5 million jobs. Meanwhile, the value of credit distributed reached Rp 43 trillion.
“This program drives the national economy and absorbs many jobs. Many small business owners have become successful thanks to this KUR program,” said Diding.
Minister of State-Owned Enterprises Dahlan Iskan also gave a special message to the board of directors and employees of Jamkrindo. The message was handwritten by Dahlan on a white piece of paper after chairing a meeting at Jamkrindo’s office, Tuesday (2/10).
“All of you at Jamkrindo are not only working hard for the company, but also for the advancement of small business owners throughout Indonesia. The country will be strong if millions of small businesses can grow and develop thanks to reliable guarantees from Jamkrindo. Good luck,” wrote Dahlan. Indopos