Banks Prepare Escrow Accounts for Export Proceeds
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9 July 2019 10:27 WIB
TEMPO.CO, Jakarta - National banks began are preparing escrow accounts and special products to accommodate export proceeds (DHE) owned by natural resource exporters (SDA). This move is related with the implementation of BI Regulation (PBI) No.21/3/PBI/2019, which requires exporters to distribute DHE through banks in Indonesia. The provision applies as per July 1 2019 to exporters of mining, fishery, plantation and forestry commodities.
Among the national banks that have prepared special accounts to take in the exports proceeds are BNI and Bank Mandiri.
"We have prepared a special accounts in the form of savings accounts, deposit, and escrow accounts," BNI CEO Achmad Baiquni said.
Meanwhile, Mandiri corporate secretary Rohan Hafas said they are offering investors the Produk Giro Premier, which is similar to other giro products, "but with greater interest," Rohan said.
Meanwhile, the Indonesian Employers Association (Apindo) deputy chair Shinta Kamdani said that although the infrastructure for DHE distribution has been prepared by domestic banks, there are a number of challenges faced by the industry.
"The cost of overseas transactions is more expensive," he said.
Other challenges include calculation of interest and tax in the country, which Shinta said is not as attractive as what overseas banks offer.
GHOIDA RAHMAH
