JAKARTA - Perum Jaminan Kredit Indonesia (Jamkrindo) continues to strive to accelerate the growth of sharia-based business entities in Indonesia. As part of this effort, on Friday (19/8), Perum Jamkrindo signed the deed of establishment for PT Penjaminan Jamkrindo Syariah. The deed was signed by the President Director of Perum Jamkrindo, Diding S. Anwar, as the majority shareholder of PT Penjaminan Jamkrindo Syariah, and the Chairperson of Koperasi Sarana Sejahtera, Nina Kurnia Dewi, as a shareholder of PT Jamkrindo Syariah.
PT Penjaminan Jamkrindo Syariah initially operated as a Sharia Business Unit in the form of a Sharia Guarantee Division within Perum Jamkrindo. Established in 2007, the Sharia Guarantee Division has been providing guarantees for financing issued by Sharia-based Financial Institutions to Micro, Small, Medium Enterprises, and Cooperatives under the kafalah bil ujrah contract, as regulated by the DSN-MUI Fatwa No. 74/DSN-MUI/I/2009.
To date, the Sharia Guarantee Division has partnered with 25 Sharia Banking and Non-Banking Financial Institutions. The total outstanding financing volume guaranteed since 2007 has reached Rp8 trillion. The sharia guarantee products offered include government program financing (including People's Business Credit) and existing financing that has been ongoing (commercial, micro, multipurpose, counter bank guarantees, construction & procurement of goods/services, distribution guarantees, and surety bonds).
"The establishment of PT Penjaminan Jamkrindo Syariah is driven by the excellent performance of the sharia guarantee division. Over the past five years, the average contribution of sharia guarantees to the corporation has reached 9.35%, with a Kafalah Fee contribution of 7.22%. These figures are convincing enough to proceed with the spin-off," said Diding.
Additionally, another driving factor is the demand from sharia business partners, both Sharia Banking Financial Institutions (IKB) and Sharia Non-Banking Financial Institutions (IKNB), for the purity of the sharia system. This includes guarantees, which are accessory contracts, also being required to fully comply with sharia principles.
"The establishment of a subsidiary, followed by the spin-off of the Sharia Guarantee Division, is also a strategic step by Perum Jamkrindo to increase the company's capacity and role in developing the sharia economy in the country. The national sharia financing growth trend, which has reached 30%, and Perum Jamkrindo's sharia guarantee portfolio, which currently accounts for only 6.7% of national financing, are also considerations for establishing PT Penjaminan Jamkrindo Syariah to accelerate market penetration in the sharia sector," Diding explained.
The benefits that stakeholders can gain from the establishment of PT Penjaminan Jamkrindo Syariah include, for Perum Jamkrindo (the parent company), the ability to focus more on strategic decisions in the core business. It also allows for easier supervision and guidance. It demonstrates commitment and support for the government's program in developing sharia-based businesses and provides capital gains.
"For guaranteed customers or makfuul ‘anhu, they will gain more certainty regarding the purity of the sharia system implementation. Sharia products will also be more varied and meet their needs. They will receive better services due to increased focus and better accessibility due to the expansion of branch networks," said Diding.
"For PT Jamkrindo Syariah, the guarantor or kafiil, they can be more focused and independent. The guarantor will also find it easier to set strategies, be more flexible, dynamic, productive, and aggressive in growing and developing. They will have adequate empowerment, easier performance measurement for employees, and easier expansion and branch openings," Diding added.
As for banks or guarantee recipients (makfuul lahu), Diding continued, they will find it easier to build cooperation and partnerships. "They will be able to respond more quickly to requests for new products (product innovation) and receive better, faster services due to increased focus."
The process of establishing PT Penjaminan Jamkrindo Syariah has been carried out with careful planning and preparation. The plan to establish the subsidiary was proposed by Perum Jamkrindo in the 2014 RKAP and the 2014-2018 RJPP, which have been approved by the Minister of State-Owned Enterprises of the Republic of Indonesia. The definitive permit was granted by the Minister of SOEs on September 16, 2014.
Regarding equity, the initial capital for the establishment is Rp1 trillion, with an initial paid-up capital of Rp250 billion, sourced entirely from the parent company's profits and investment income, not from State Capital Participation (PMN).
It is known that Perum Jamkrindo receives PMN from the state budget annually to support government financing programs, including the People's Business Credit.
"It must be reiterated that the establishment of the subsidiary PT Jamkrindo Syariah does not use PMN funds at all. Now, with the signing of the Deed of Establishment of PT Penjaminan Jamkrindo Syariah, the next step is the issuance of an operational permit from the Financial Services Authority so that PT Penjaminan Jamkrindo Syariah can operate no later than November this year. With the establishment of PT Penjaminan Jamkrindo Syariah, Sharia Guarantees in Indonesia will become stronger to support the accelerated growth of sharia-based business entities in Indonesia," concluded Diding.
(Source: www.jpnn.com)