Facilitating Money Transfers for Migrant Workers, Bank Jatim Holds Soft Launch of JConnect Remittance Hong Kong
Date: 02 august 2024Categories :
KARANG PLOSO, August 2, 2024 – In an effort to enhance brand awareness for JConnect Remittance, PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) recently held the soft launch of JConnect Remittance Hong Kong alongside a Gathering of Indonesian Migrant Workers (PMI) in Malang Regency. The event, held at Shanaya Resort & Hotel, was attended by Bank Jatim’s President Director Busrul Iman, Finance, Treasury & Global Services Director Edi Masrianto, Malang Regent Sanusi, and hundreds of migrant workers.
Busrul stated that the PMI gathering involved 10 Bank Jatim branches: Ponorogo, Blitar, Malang, Tulungagung, Banyuwangi, Madiun, Kediri, Trenggalek, Magetan, and Lumajang. According to the April 2024 Public Report from the Indonesian Migrant Workers Protection Agency (BP2MI), the number of PMI placements increased year-on-year by 30.17%, from 16,362 in April 2023 to 29,803 in April 2024.
"East Java Province continues to be the top region in Indonesia for migrant worker placements. The main destination countries for PMIs are concentrated in Hong Kong, Malaysia, Taiwan, South Korea, and Japan, totaling 27,384 or 91.88% of all placements worldwide,” Busrul explained. Key East Java regions with the highest number of migrant workers include Ponorogo, Blitar, Malang, Tulungagung, Banyuwangi, Madiun, Kediri, Trenggalek, and Magetan.
Given this context, Bank Jatim officially launched JConnect Remittance for the Hong Kong corridor on May 27, 2024, to expand its international banking business, particularly in increasing incoming remittance transaction volume. “To further tap into this business potential, active participation, financial literacy, and awareness among PMIs are essential. Bank Jatim is now capable of processing incoming remittance transactions from two corridors: Malaysia and Hong Kong. We are committed to further expanding this cooperation to other countries,” he emphasized.
According to Busrul, this initiative reflects Bank Jatim’s commitment to facilitating money transfers from PMIs to Indonesia, potentially boosting foreign exchange earnings for East Java Province. “Additionally, this event aims to foster and maintain synergy with various related stakeholders, such as the East Java Provincial and Regional Manpower Offices, Training Centers (BLK/LPK), and P2MI,” he added.
With JConnect Remittance, Busrul hopes the initiative becomes an alternative way to grow CASA (Current Account Savings Account) from PMI savings while enhancing the bank’s corporate image, demonstrating Bank Jatim’s strong commitment to migrant workers, the majority of whom originate from East Java.
Meanwhile, Malang Regent Sanusi expressed his gratitude to Bank Jatim for choosing Malang Regency as the host for the soft launch of JConnect Remittance Hong Kong. According to Sanusi, migrant workers now serve as a key pillar of national economic growth and contribute significantly to the country's income and economic productivity through high remittance volumes.
"Congratulations and best wishes to Bank Jatim on the launch of JConnect Remittance Hong Kong. This new remittance service is designed to make it easier and safer for migrant workers in Hong Kong—especially those from East Java—to transfer money across borders," said Sanusi.
He added that he hopes the service can be easily used without barriers for various other financial transactions. “May the existing synergy and collaboration continue to grow stronger, especially in delivering meaningful benefits to all communities across East Java,” Sanusi concluded.
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