Increased Remittance Activities For Ramadan 2023, BRI Aims For 20 Percent Growth

Bank BRI (Photo: Doc. Antara)

JAKARTA PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) estimates that there will be an increase in remittance activities from abroad to Indonesia.

This is because the culture of sharing is still thick by providing holiday allowances (THR) for Indonesian people to relatives in their hometowns.

BRI's SEVP Treasury and Global Services Achmad Royadi targets transaction growth to be higher than in previous years. This is by considering the higher growth rate obtained during the initial period of this year.

"For this Ramadan and Eid al-Fitr period in 2023, BRI targets transaction growth of 25 percent compared to the normal period," he told the media, Wednesday, April 12.

He continued, in early 2023, BRI's remittance business scored a positive growth rate. In year on year (yoy) the volume of remittance in early 2023 grew by 18 percent compared to the previous year's period.

Not only that, but the activity of remittance services earlier this year obtained BRI's business fee-based income impressively. In Yoypendapatan, BRI's remittance business grew by 75 percent compared to the same period. It is hoped that BRI's remittance performance will accelerate until the end of 2023.

"BRI is optimistic that it can maintain this good performance until the end of 2023 in line with digital innovation and customer engagement that we have built as a culture in running business," he continued.

Achmad Royadi continued that this increase could not be separated from the optimization of Bank Representative (BR) in several state corridors spread across Southeast Asia, East Asia, and the Middle East in helping to answer all needs of Indonesian people's remittance services. So far, the largest contributors to the BRI remittance business come from Hong Kong, Taiwan, Malaysia and Saudi Arabia.

As is known, BRI is always present to meet the needs of customer banking services, including Indonesian Migrant Workers (PMI) abroad. In meeting the needs of remittance services, BRI has BRIFast Remittance services which can be a solution for sending money to 8,993 BRI offices and more than 650 thousand BRILink Agents throughout Indonesia.

BRIFast Remittance can facilitate BRI counterparts through several money forwarding options for customers, especially PMIs. PMI can choose several types of delivery mechanisms, including sending money directly to bank accounts, and sending it by cash collection mechanism without an account (BRIFast Cash).

On the other hand, to facilitate customer needs in sending funds from Indonesia to other countries (outward commitment), BRI also provides international Transfer Feature services through BRImo digital banking and monitors delivery transaction status via BRIfast Tracker.