JAKARTA – A total of nine guarantee companies have declared the establishment of the Indonesian Guarantee Companies Association (Asippindo) with the aim of promoting the development of the industry.
Diding S. Anwar, Chairman of the Indonesian Guarantee Companies Association (Asippindo), said the association was deliberately formed with the purpose of actively serving as a facilitator in advocating for the interests of its members.
In addition, Asippindo was also established to develop the professional workforce that is greatly needed by the guarantee industry.
"Asippindo will encourage guarantee companies to continue to progress and remain relevant in the financial industry, both nationally and internationally," he said, also serving as President Director of Perum Jamkrindo, in his speech during the declaration of Asippindo's establishment on Thursday (13/12).
Asippindo was initiated by four guarantee companies, namely Perum Jamkrindo, PT Penjaminan Kredit Pengusaha Indonesia, PT Penjaminan Kredit Daerah (Jamkrida) Jawa Timur, and PT Jamkrida Bali Mandara.
Mulabasa Hutabarat, Head of the Financing and Guarantee Bureau of Bapepam-LK, said that Asippindo is a unique association because it is mandated by the Minister of Finance Regulation. This is different from several other financial institution associations which are not mandated by regulation.
The regulation referred to by Mulabasa is PMK 99/pmk.010/2011 concerning credit guarantee companies and re-credit guarantee companies.
According to Article 3A, paragraph 3, guarantee companies are required to use the services of guarantee agents who are registered as members of the guarantee association. "Well, if the association does not exist, how can guarantee companies use agents?" said Mulabasa.
Mulabasa explained that the role of agents is very important in the guarantee industry. The reason is that agents are one of the most effective distribution channels to market the surety bond product, which is now being ventured into by guarantee companies.
"When it comes to surety bonds, one form of channeling to find customers is through agents. Surety bonds are a product that is closer to guarantees than to insurance," he explained.
(Source: Harian Bisnis Indonesia, Friday, December 14, 2012)