JAKARTA, Indonesia, April 7, 2023 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) has partnered with MIND ID, a State-Owned Enterprise in the Mining Industry Holding, to provide Notional Pooling and Short-Term Working Capital Loan Facilities. The partnership was made official through a Cooperation Agreement signed on 16 March 2023 in Jakarta, Indonesia.
The Cooperation Agreement was signed by Agus Noorsanto, BRI’s Director of Institutional and Wholesale Business, with MIND ID Group represented by Devi Pradnya Paramita, Director of Finance of MIND ID; Farida Thamrin, Risk Management of PT Bukit Asam Tbk.; Elisabeth RT Siahaan, Director of Finance and Risk Management of PT ANTAM Tbk; Fina Eliani, Director of Finance and Risk Management of PT Timah Tbk; and Syafrizal, Director of PT Indonesia Papua Metal and Mineral.
The service can be accessed through the BRI cash management platform and provides daily monitoring of consolidated balances in Indonesian Rupiah and other foreign currencies. It is designed to help companies manage their finances and allows for easy transfer of funds among group companies.
“This cooperation optimizes and ensures a more efficient cash management. It can also increase synergy, not only among companies within the MIND ID Group, but also synergy among state-owned enterprises, in this case with BRI,” explained Devi.
Notional Pooling also allows companies to manage their corporate liquidity with ease, thereby improving their financial structure. For instance, a company’s subsidiary, such as those within the MIND ID Group, can receive such liquidity in times of need via the excess liquidity of their consolidated balance. These features significantly benefit clients by enabling them to utilize excess funds as additional investment options.
In addition to Notional Pooling, BRI offers end-to-end financial transaction management solutions through Qlola. Developed for leasing companies and other corporations, Qlola integrates features such as financial dashboards, cash management, supply chain management, and foreign exchange, and is equipped with multi-language functions as well.
“BRI is committed to providing the best service of integrated banking solutions by ensuring the ease of managing financial transactions through the Qlola platform,” said Agus.
Through various banking service facilities, BRI is committed to supporting financial inclusion in Indonesia and providing convenient and secure transactions for customers.
For more information about BRI, visit www.bri.co.id.
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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)