PT. Bank Negara Indonesia (Persero), Tbk. (“BNI”) recently launched its collaborative program with the Ministry of Finance of Republic of Indonesia to provide services for payment transactions: the State Revenue Module (Modul Penerimaan Negara – MPN) in foreign currency denomination. The official US launching ceremony was held at BNI New York Agency office on February 15, 2013. Among the guests were the Ambassador of the Republic of Insdonesia to the United States, Mr. Dino Patti Djalal; the Ambassador of Indonesian Permanent Mission of the Republic of Indonesia to the United Nations, H.E. Mr. Desra Percaya; the Chief Representative of Bank Indonesia, Mr. Wimboh Santoso; and the Director of Directorate Treasury Management of the Ministry of Finance of the Republic of Indonesia, Mr. Rudi Widodo. The Vice President Director, Ms. Felia Salim, and the General Manager of the International Division, Firman Wibowo, were also present to witness the ceremony. The launching ceremony was also held in other BNI’s international branches in Singapore, Hong Kong, Tokyo, and London within the same month.

BNI is the first and only Indonesian Bank to offer real-time processing system of the State revenue transactions denominated in foreign currency from five cities around the world. According to BNI’s Corporate Secretary, Ms. Tribuana Tunggadewi, BNI has developed an integrated system capability at it international branches to ensure optimum performance in processing tax and non-tax State revenue. This integrated system between BNI and Ministry of Finance facilitates the government’s mechanism in monitoring and administering State Revenues.

The potential business for the State Revenues in IDR as well as other currencies is estimated to be IDR 1.5 trillion per year, while its non-IDR denominated portion estimated at USD 20.72 billion (IDR 200 trillion) annually. BNI aims to process approximately USD 6.42 billion (IDR 62 trillion) or 31% of the total State Revenues in foreign currencies.

The Only “Bank Persepsi”

BNI is the only bank that fulfills all requirements set by Finance Minister Regulation No. 249 on the Management of State Revenues in Foreign Denominated Currency to be the “bank persepsi” for the Indonesian Ministry of Finance. “Bank Persepsi” is the bank that is appointed by the Indonesian Ministry of Finance to process the State Revenue inflow. The official letter from the Director General Treasur KEP-213/PB/2012 dated November 13, 2012, mandated BNI as the appointed “bank persepsi” that facilitates taxpayers to make payment and provides official payment receipt in real time.

BNI benefits from the Foreign Currency MPN program as it deepens and expands its existing business network, maximizing the potential floating fund and the multiplier value of the tax-paying companies. The Bank expects that the potential income from this program will push BNI’s overall business growth.

This program emphasizes BNI’s role and mission in bridging the Indonesian business with the businesses all over the world as well as in supporting the Indonesian government to optimize its foreign currency denominated State Revenue processing.