Educating Customers on Forex Remittance, BCA Holds Remittance Seminar

Jakarta, 25 February 2020 – PT Bank Central Asia Tbk (BCA) continuously maintains its commitment to provide ease and comfort through a variety of banking solution products for customers, including for forex money transfers. In addition to continue to strive to promote international money transfer services, BCA also proactively supports the government policies regarding the monitoring system for export/import activities and the use local currencies in bilateral trade. 

The Remittance Seminar 2020 was opened by Director of Rudy Susanto, Senior Executive Vice President Branko Windoe, and Executive Vice President of International Banking Edmund Tondobala at Hotel Indonesia Kempinski, Jakarta, Tuesday (25/02). The seminar highlighted the latest Bank Indonesia Regulation on Export Proceeds and Import Payments, which was delivered by Aldrina Kusuma Sarie as Assistant Director and Sondang Marsinta Uli, Manager of Department of Report Management and Compliance of Bank Indonesia. Indra Gunawan Sutarto, Assistant Director of Department of Financial Market Development of Bank Indonesia, was also attending the seminar as a keynote speaker, discussing the policy of the use of local currency in settlement of bilateral trade transactions with partner countries. 

The Ministry of Finance and Bank Indonesia had previously signed on an integrated utilization and monitoring cooperation on foreign exchange revenues data from export and import activities through the Immediate Integrated Foreign Exchange Monitoring System (SiMoDIS). Aldrina said that all parties need to support the government policy concerning the supervision of export and import proceeds, because the revenues can be a sustainable source of funds for national economic development.

Meanwhile, the Local Currency Settlement (LCS) or trade transaction policy using local currencies is an effort to strengthen the rupiah exchange rate, because businesses no longer need to carry out international trade transactions using U.S. Dollars. Indra explained that besides Malaysia and Thailand, who have partnered in the LCS framework, Bank Indonesia will develop cooperation with several other countries such as Japan, Korea, China, the Philippines, and India. 

Still in the celebration of the bank’s 63^rd anniversary, BCA launched its latest foreign currency remittance service namely BCA Full Payment. The service provides benefits for customers who conduct a foreign currency remittance with low cost and received in full amount by the beneficiary. The BCA Full Payment service offers a free telex fee promo during the period of 21 February – 31 May 2020. Forex transactions at BCA are also supported by the J-Valas application, which can be used by customers to perform online forex trading transactions, interact and conduct transactions with dealers via chat and get competitive exchange rates. KlikBCA Bisnis and other features are also available to support the era of digitalization that allows customers to conduct banking transactions, including foreign exchange transfers through e-channel facilities. 

“With the banking solutions that BCA offers, we hope that we could support the government and provide added value to customers and the general public in foreign exchange remittance,” Branko Windoe concluded.

Remittance Seminar 2020 – (left to right) Senior Vice President of International Banking of BCA Tjoe Henny, Assistant Director of Department of Report Management and Compliance of Bank Indonesia Sondang Marsinta Uli after the Remittance Seminar 2020 in Jakarta, Tuesday (25/02). The seminar highlighted the latest Bank Indonesia Regulation on Export Proceeds and Import Payments, which was delivered by Aldrina Kusuma Sarie and Sondang Marsinta from Bank Indonesia.