Bank Mandiri Becomes First Indonesian Bank Granted Direct Participant Status in China's CIPS

PT Bank Mandiri (Persero) Tbk (IDX: BMRI) has marked a historic milestone as the pioneer Indonesian bank to join as a Direct Participant in the Cross-Border Interbank Payment System (CIPS). CIPS is an international payment infrastructure based on the Renminbi (RMB) operating under the auspices of the People’s Bank of China (PBoC). The inauguration of this membership took place during the Launching Ceremony of Bank Mandiri as Direct Participant of The Cross-Border Interbank Payment System (CIPS) in Shanghai, China, on Thursday (11/6/2026), and was attended by Bank Indonesia Governor Perry Warjiyo, China Central Bank Governor Pan Gongsheng, CIPS Chairman Wang Hongbo, and Bank Mandiri Director of Operations Timothy Utama. This membership strengthens Bank Mandiri’s position as the sole Indonesian banking institution directly connected to one of the world’s major payment infrastructures, whilst expanding its cross-border transaction services to support the growing flow of trade and investment within the Indonesia-China corridor. Bank Mandiri’s participation in CIPS is a follow-up to the strengthening of bilateral economic cooperation and transactions between Indonesia and China, initiated by Bank Indonesia (BI) and the People’s Bank of China (PBoC). Through this direct connection, Bank Mandiri can deliver RMB-based transaction services that are faster, more transparent, secure, and reliable for businesses, investors, and corporate clients in both countries. Bank Mandiri Director of Operations, Timothy Utama, stated that the bank’s status as a CIPS Direct Participant is a strategic step to strengthen its international transaction service capabilities and a commitment to supporting the increasingly close economic relationship between Indonesia and China. “As a CIPS Direct Participant, Bank Mandiri can deliver more efficient and reliable RMB transaction services, whilst supporting trade and investment growth between Indonesia and China and strengthening the national financial industry’s connectivity with the global payment ecosystem,” said Timothy. With this status, Bank Mandiri now has direct access to the international RMB payment network, enabling it to provide more seamless transaction services compared to conventional payment mechanisms. This direct integration simplifies the transaction process, reduces interbank complexity, and enhances settlement certainty for cross-border transactions. Customers can also enjoy a more optimal international transaction experience, particularly for trade, investment, and treasury activities with business partners in China. In addition to improving service speed and reliability, Bank Mandiri is also expanding transaction flexibility in RMB currency to support increasingly dynamic customer business needs. This effort is supported by the extension of service hours for RMB-based international fund transfers. “Today’s milestone also reinforces Bank Mandiri’s role as a trusted financial partner for businesses in the international trade sector, by delivering innovative solutions to dynamically meet customer needs amidst an increasingly interconnected global economy,” Timothy continued. This capability further strengthens Bank Mandiri’s support for the development of Local Currency Transactions (LCT) between Indonesia and China, including for trade and investment transaction needs in both countries. With China’s position as one of Indonesia’s main trading partners, the need for fast, secure, and efficient cross-border payment infrastructure is increasingly important to enhance the competitiveness of national businesses. Bank Mandiri is optimistic that this increasingly integrated connectivity will provide added value for businesses actively engaged in commercial relations with China. Going forward, Bank Mandiri will continue to expand collaborations with various global strategic partners, develop RMB-based transaction services, and reinforce its role as a leading financial solution provider for customers’ international transaction needs. Through innovation and the strengthening of service capabilities, Bank Mandiri is committed to continuously supporting national economic growth and the development of inclusive and sustainable regional cooperation. “We believe that stronger financial connectivity will open more sustainable growth opportunities for the business world and the national economy, whilst strengthening Indonesia’s integration with the global economic ecosystem,” concluded Timothy.