International Trade Forum on Forfaiting

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News • Jakarta

On the 2018, on the second time, ICC Indonesia has finally succeeded holding International Trade Forum in cooperation with PT Bank Rakyat Indonesia Tbk. The event was planned to hold on 7th May 2018. International Trade Forum is a bimonthly event which is mainly focus on international trade matters. All of the participants were based from bankers, lecturers, and importer/exporter. ICC Indonesia highlight Forfaiting as the main theme of the event, which needed to increase international trade transaction in Indonesia as in line with Indonesia Government mission.

“Forfaiting is a trade finance technique based on the purchase of instruments that evidence payment claims falling due at some future date, without recourse to any previous holder of the obligation, ” said Sophie Zong, Chairperson International Trade and Forfaiting Association (ITFA) SEA.

 

Forfaiting itself has been growing since it mainly becomes international trade rules. One of the transformations2 has found in implementation of trade finance law. The implementation of forfaiting is similar to the common forfaiting, but the way Financing Bank gain profit is difference. “As regarding to sharia forfaiting implementation, they can give loan to receivable owner. The difference between shariah forfaiting and non-shariah is on the commission. We gained the commission based on the forfaiting service, not the loan. We are doing hard-work to integrate shariah forfating with international trade, and also would like to be perceived by customer as alliance.” said Afrid Wibisono, Head of Global Market PT Bank Muamalat Indonesia, Tbk.

Meanwhile Indonesia’s Financial Service Authority saw a promising future in terms of international trade landscape in Indonesia. Especially banking authority were interested to increase international trade transaction. “In International Trade, Indonesia is depicting fine economy outlook with the increase of surpluses around 1,09 million USD after hard time deficit. Banking having a impact to push the development of international trade with credit and paying transaction product. In February 2018, Central Bank export credit noted around Rp 116, 11 trillion. Antonius Harie P. M, Head of Department of Banking Research and Regulation Otoritas Jasa Keuangan.

 

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Yudha Ikhsan 
Press & Communications | ICC Indonesia
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