Jakarta, 26 March 2018 – PT Bank Central Asia Tbk (BCA) is always committed to provide customers with ease of transactions both within the country and abroad. The commitment is demonstrated by expanding its foreign exchange and remittance services, as stated in the 2018 Remittance Customer Seminar held on Monday (26/03) in Jakarta.
Under the theme of ‘Local Currency Settlement (LCS)’, the 2018 Remittance Customer Seminar was opened by Executive Vice President of International Banking BCA Edmund Tondobala. Also attending as keynote speakers was Head of Work Unit Compliance of BCA Arif Singgih, Assistant Director of Financial Market Development Department of Bank Indonesia Indra Gunawan Sutarto, Assistant Director of International Department of Bank Indonesia Tri Yanuarti, Manager of Financial Market Development Department of Bank Indonesia Aditya Candra, and IT expert Onno W. Purbo.
In the seminar, Edmund said that BCA is one of the six designated banks assigned to facilitate bilateral transactions through the LCS (local currency settlement) framework operations of rupiah-ringgit and rupiah-baht. The LCS framework is a form of bilateral trade settlement and direct investment in local currency (local currency settlement), initiated by Bank Indonesia (BI), Bank Negara Malaysia (BNM), and Bank of Thailand (BOT) in December 2016. LCS framework is a sustainable effort to encourage wider use of rupiah, ringgit and baht in trade and investment between the three countries.
“As one of the designated Banks, BCA can now purchase ringgit and baht currency, which in turn contributes to business efficiency. BCA’s customers are also benefited from the cheaper transaction fees because it can follow the currency rate of Rupiah,” said Edmund.
“The local currency settlement (LCS) arrangement is expected to support the stability of Rupiah exchange rates by reducing the current dependence on the U.S. dollar currency in the settlement of bilateral trade transactions between Indonesia and partner countries,” Edmund concluded.
BCA Holds 2018 Remittance Customer Seminar – (left-right) Executive Vice President of International Banking of PT Bank Central Asia Tbk (BCA) Edmund Tondobala with Assistant Director of Financial Market Development Department of Bank Indonesia Indra Gunawan Sutarto, Assistant Director of International Department of Bank Indonesia Tri Yanuarti, Manager of Financial Market Development Department of Bank Indonesia Aditya Candra were exchanging souvenirs after the 2018 Remittance Customer Seminar in Jakarta, Monday (26/03). Attended by 400 remittance BCA customers, the event was aimed at providing information on its latest product regarding the LCS regulatory framework between Indonesia, Malaysia and Thailand. The framework is expected to support the stability of Rupiah exchange rates in the settlement of bilateral transactions between Indonesia and partner countries.
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About PT Bank Central Asia Tbk (as of 31st December 2017)
BCA is one of the leading commercial banks in Indonesia with a core focus on transaction banking business and providing loan facilities and solutions to the corporate, commercial & SME and consumer segments. At the end of September 2017, BCA had the privilege of serving 17 million customer accounts, processing millions of transactions every day through 1,235 branches, 17,658 ATMs and more than 470 thousands of EDC machines as well as transactions made over the 24-hour internet and mobile banking systems.
For more information, please contact:
PT BANK CENTRAL ASIA TBK
Corporate Secretary – Corporate Communication Sub-division
Public Relations Office
Address : Jl. MH Thamrin No. 1
Menara BCA Grand Indonesia Lt. 20
Jakarta Pusat
Phone : (021) 2358-8000
Fax : (021) 2358-8300
E-mail : humas@bca.co.id
