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CARDS & PAYMENTS | Cesar Tordesillas, Indonesia

Indonesia's BJB to cooperate with Malaysian remittance company

Bank BJB has signed an agreement with PT iAsia Sakatama, a Malaysian remittance company, to cooperate in remittance business.

"The cooperation with iAsia Sakatama is part of the program of BJB to expand international operations in

remittance business in various countries such as Hong Kong, Malaysia, Taiwan, Korea, Japan and Middle East," Zaenal Aripin, compliance and risk management director of BJB, said.

The market target with the expansion is to serve remittances for Indonesian workers in those countries.

The agreement was signed by Syamsu, head of the International Division of BJB, which is owned by the West Java and Banten regional administrations and iAsia Sakatama Director Meutia Hidayati, here on Thursday.

The two financial companies will also expand update preparation and cash direction in remittance cooperation, mobile payments and currency note supply in Malaysia.

iAsia`s founder Dato Nik Mohd Amin described the cooperation between BJB and iAsia as strategic and mutually beneficial.

The cooperation allows BJB to open remittance service networks in a number of cities in Malaysia, Dato said.

"Remittance business is expected to grow faster in the future," he said.

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