Bali, Monday (17/10/2022) -- The Indonesian Government's strategy to develop the micro, small, and medium enterprise segment is seen as appropriate by prioritizing subsidies that become the basis for banks to channel trade finance.
Finastra Group Holding Ltd. CEO Simon Paris believes that the Indonesian economy has considerable hope for the growth of the MSME segment's performance. Moreover, the economic contribution of MSMEs in gross domestic product reaches more than 65%.
In his opinion, the Indonesian Government's steps to prioritize subsidies both with the people's business credit scheme, credit guarantees, and others are very appropriate, especially in encouraging financial industry players to channel financing.
"If the government guarantees all transactions from MSME players, more banks will channel trade finance. Especially now that there are many marketplaces that accommodate their trade," he said at the SOE International Conference #BUMNforG20 #SOEInternationalConference at the Bali Nusa Dua Conference Center, Monday (17/10/2022).
He is of the opinion that the move to expand affordability by utilizing digital banking solutions is also appropriate. Moreover, this is also followed by various programs that reach vulnerable groups such as women and people in remote areas.
"The government also continues to encourage all economic actors to be able to become traveling companions for MSMEs to develop and add value," he said.
On a separate occasion, BNI Corporate Secretary Okki Rushartomo revealed, as a state-owned bank, of course, the expansion of inclusive financing or MSME credit is one of the priorities. Moreover, BNI already has a digital-based MSME development ecosystem that enables MSMEs to upgrade and go global.
BNI's various solutions include cash management, mobile banking, EDC activation, and QRIS, as well as support for increasing capabilities and opening markets through BNI Xpora.
BNI has also equipped itself with a variety of financial solutions to support MSME operations. Various MSME development and mentoring programs will continue to be implemented.
"In accordance with the spirit of the G20, namely recover stronger recover together, BNI continues to open market access by cooperating with many MSME associations, e-commerce to diaspora communities abroad," he concluded.