"Remittance business is expected to grow faster in the future."Bandung (ANTARA News) - The Bandung-based PT Bank Pembangunan Daerah Jabar Banten (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.
PT iAsia Sakatama operates in technology and information and payment system business.
Among the companies using the service of iAsia is Metro Mani, a remittance agent in Malaysia and Bank Islam Malaysia.
Until August 2012, BJB already handled remittances including 2,139 outgoing transfers valued at Rp17.33 trillion and 40,199 incoming transfers worth Rp1.16 trillion.
"Through the new cooperation agreement Indonesian workers abroad especially those in Malaysia could easily access BJB`s remittance service," Zaenal Arifin.
There are hundreds of thousands of Indonesian workers in Malaysia mainly as housemaids and plantation workers.
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.
(Uu.AS/S012/H-ASG)
Editor: Priyambodo RH
Copyright © ANTARA 2012
