Bank Kalsel Capable of Managing Foreign Exchange Transaction Value of Rp400 Trillion

Banjarmasin (ANTARA) - The Head of the Financial Services Authority (OJK) for South Kalimantan Province, Agus Maiyo, stated that based on a joint study with consultants, Bank Kalsel is projected to be capable of managing foreign exchange transaction values of up to Rp400 trillion.

“The potential for international trade in South Kalimantan is very large, with an estimated value of Rp400 trillion,” he said in Banjarmasin on Tuesday.

Agus explained that his office is providing a transitional timeframe for Bank Kalsel to become a foreign exchange bank.

“Regarding the timeline, we are giving a range of three to six months for Bank Kalsel to promptly complete these preparations,” he stated.

Once all follow-up actions are fulfilled in accordance with applicable regulations, Bank Kalsel will implement and market foreign currency-based products and services gradually to the public as part of efforts to develop services and increase competitiveness.

In line with regulations from the Coordinating Ministry for Economic Affairs, every export transaction in foreign exchange must be managed domestically at 100% and held for a minimum of three months.

This provision is seen as a golden opportunity for Bank Kalsel to introduce relevant banking products upon becoming a foreign exchange bank.