Bibit.id Wins 4 Awards From The Ministry Of Finance

Photo: Doc. Bibit.id

JAKARTA - The leading digital investment application in Indonesia, Bibit.id, received four prestigious awards from the Ministry of Finance of the Republic of Indonesia. The four awards include the Best Retail State Securities (Midis) Distribution Partner (SUN) in 2022, the Best Retail Sharia Securities Midistic (SBSN) in 2022 and 2023 in the Fintech Category and the Best Retail SUN Midists in the Fintech Category and Trade Organizers through the Electronic System in 2023.

The four awards were handed over directly by Suminto as Director General of Financing and Risk Management of the Indonesian Ministry of Finance to Bibit representatives at the Investor Meeting held in Jakarta.

"This award is certainly very encouraging for us at Bibit, and in the future we will continue our efforts so that more and more Indonesians invest in Government Securities. Thank you for the appreciation that the Ministry of Finance gave us," said Hilmawan Kusumajaya as Director of Bibit, in a written statement, Thursday, December 14.

Since being officially appointed as SBN sales Distribution Partner in early 2022, Bibit has recorded nine times as Midis in the fintech category which posted the most sales on the sale of various SBN series, including SR017 Series Retail Sharia Securities (19 August-14 September 2022), ORI022 Series Retail State Bonds (26 September-20 October 2022), S009 Retail Series Sukuk (11-30 November 2022), SBR012 Series Savings Bond Retail (19 January-9 February 2023), ST010 Retail Series Sukuk (12 May-7 June 2023), ORI023 Series Retail State Bonds (30 June-20 July 2023), SR019 Series Retail State Sharia Securities (1-20 September 2023), Retail Countries Bond Series ORI024 (9 October-2 November 2023), and Sukuk Retail Series ST011 (6 November 6-6 December 2023).

Hilmawan added that the award received in two consecutive years also emphasized Bibit's commitment to educating the public about the benefits of investing in SBN.

"Most Bibit users are the millennial generation and Gen Z. We continue to educate and tell them that by investing in SBN, it means that investors contribute to financing the State Revenue and Expenditure Budget and various infrastructure projects in Indonesia," he added.

For the domestic SBN market, it has begun to show a positive trend. In the midst of volatile global financial market conditions, the domestic market has been outflowing in the period July to October 2023. Meanwhile, in November 2023, the SBN market has again shown inflow.

In terms of the number of investors, by the end of 2020, data from the Indonesian Central Securities Depository (KSEI) showed that there were around 460 thousand SBN investors. The figure then rose to 611 thousand at the end of 2021, 831 thousand at the end of 2022, and as of November 2023 the figure had reached 992 thousand investors.