PT Jaminan Kredit Indonesia, or also mentioned as “Jamkrindo” is a State-Owned Enterprise (SOE) with business activities focusing in credit guarantee. As an SOE, Jamkrindo is fully committed in implementing and supporting Government policies and programs in national economic and development sectors in order to prosper the life of the nation. The committed implementation is carried out through activities of providing support in the form of credit guarantee provision, either Cash and Non-Cash, given by bank or business entity to Micro, Small, Medium Enterprises and Cooperatives (SMEs and Cooperatives). In an effort to improve people’s economy equally and facilitate accessibility, Jamkrindo keeps developing network all over the country and improving and developing the service quality.
Jamkrindo was established in the mid-1970s as a Cooperative Credit Guarantee Institution (LJKK). At that time the development of cooperatives still lags behind compared to state-owned companies and private companies. In its development, LJKK was later changed to Public Corporation Financial Development Cooperative (Perum PKK) through Government Regulation No. 51 of 1981 dated December 23, 1981, which is enhanced by Government Regulation No. 27 of 1985 dated May 31, 1985, concerning Public Corporation Financial Development Cooperative.
The successful implementation of Perum PKK functions and tasks in developing cooperatives through credit guarantee activities makes the Government expand the services reach of Perum PKK to not only be limited to cooperatives, but also to include SMEs. For this effort, the Government issued another policy aiming to strengthen the role of Perum PKK through the issuance of Government Regulation No. 95 of 2000 dated 7 November 2000 which also changed the name of Perum PKK into Perusahaan Umum Sarana Pengembangan Usaha (Perum SPU).
In 2008, the Government issued Presidential Regulation No.2 of 2008 dated 26 January 2008 on Guarantee Agency. Regarding changes in Company business which no longer provided cash loan to SMEs and Cooperatives through profit sharing but focused on credit guarantee business of SMEs and Cooperatives, Perum SPU was renamed to be Perusahaan Umum Jaminan Kredit Indonesia (Perum Jamkrindo) based on Government Regulation No. 41 of 2008 dated 19 May 2008.
As a follow up to the Presidential Regulation implementation, the Government through the Ministry of Finance strengthened the legal basis of establishment of the Company and other companies with similar business sectors through Minister of Finance Regulation (PMK) No. 222/PMK.010/2008 dated 16 December 2008 as amended by Minister of Finance Regulation No. 99/PMK.010/2011 dated 8 July 2011 on Credit Guarantee Company and Credit Re-Guarantee Company. Through the regulations, Jamkrindo must have a businesslicense as Credit Guarantee Company. Following up the regulation, the Minister of Finance issued a Decree (KMK) No. KEP-77/KM.10/2009 dated 22 April 2009 establishing Jamkrindo’s business license as a Credit Guarantee Company.
In 2016, the Government issued Law No. 1 of 2016 dated 19 January 2016 on Guarantee, as a form of seriousness of the Government in protecting and instituting guarantee industry which continues to develop in line with the growth of financial services in Indonesia.