Bank Mandiri Positively Welcomes Government Sale Fund Placement Policy To National Banking

Photo: Doc. Bank Mandiri

Bank Mandiri assesses that the government's steps to place more budget balance (SAL) funds in the banking system have the potential to strengthen the growth of Third Party Funds (DPK) and encourage increased lending.

"Bank Mandiri sees that the placement of government's More Budget Balance (SAL) funds in the banking system has the potential to strengthen the growth of Third Party Funds while at the same time encouraging an increase in lending," said Bank Mandiri Corporate Secretary M. Ashidiq Iswara, in his statement, Thursday, September 11.

He explained that based on the analysis of the Bank Mandiri Economist Team, this policy is considered to support the creation of healthier liquidity and increase the effectiveness of monetary policy transmission, so that the circulation of money in the economy can take place more optimally.

Furthermore, Ashidiq emphasized that as a development agent and government partner, this policy is in line with Bank Mandiri's commitment to supporting financial system stability and accelerating banking intermediation functions, especially to productive sectors.

According to him, this also supports the government's priority program and the vision of Asta Cita President Prabowo in encouraging sustainable economic growth.

Previously, the Minister of Finance (Menkeu) Purbaya Yudhi Sadive reminded that state deposits amounting to Rp200 trillion which will be transferred from Bank Indonesia (BI) to national banks should not be used to buy Rupiah Securities of Bank Indonesia (SRBI) or Government Securities (SBN).

"We have spoken with the bank not to buy SRBI or SBN," he told the media crew after a Working Meeting (Raker) with Commission XI of the Indonesian House of Representatives, Thursday, September 11.

He stressed that its use was fully handed over to the bank, as long as its goal was to strengthen liquidity in the national financial system.

"(The designation) likes the bank. The important thing is that we have liquidity into the system," he said.

The funds come from the More Budget Balance (SAL) and the Remaining Budget Financing (SiLPA) which was previously placed in BI.

Meanwhile, the initial placement of these funds is aimed at strengthening the liquidity base, including encouraging the circulation of primary money (M0) in the economy.

He added that this fund is expected to be disbursed immediately by banks in the form of credit or financing to support economic growth.

"If you put it in a safe, it's a loss for him. For example, he doesn't put it in BI anymore, does he lose, right? He will be forced to distribute it in the form of credit," he said.

Purbaya explained that this policy aims to encourage market mechanisms to run in encouraging the economy.

"So what we force is to be given fuel so that the market mechanism runs so that they are forced to distribute, not forced, which is usually relaxed, forced to think a little harder," he said.

He also ensured that he would directly monitor the progress of the placement of the funds, which will begin tomorrow through the guarantee scheme.

"What is clear is that it was the first attempt. Put it that way first and we'll see within a week, two weeks, three weeks, what the impact will be on the economy. If it's not enough, add more," he said.

According to Purbaya, the total state cash funds that are still stored in BI have reached around Rp440 trillion and will continue to be used gradually to support liquidity and maintain financial system stability.

"Instead of hanging out. But later if we don't get enough, we can add more money, we will continue to add more money, there is a tax for everything that goes back into the system. But what we are guarding is not to let us issue bonds, if we collect taxes, the system is dry," he said.