Bank Mandiri Connects Directly to CIPS, Strengthening Indonesia-China Connectivity

Jakarta (ANTARA) - PT Bank Mandiri (Persero) Tbk (BMRI) has joined as a direct participant in the Cross-Border Interbank Payment System (CIPS), strengthening financial connectivity between Indonesia and China. CIPS is an international payment infrastructure based on the Renminbi (RMB) operating under the auspices of the People’s Bank of China (PBoC).

“As a CIPS Direct Participant, Bank Mandiri can deliver more efficient and reliable RMB transaction services,” said Bank Mandiri Operations Director Timothy Utama in a written statement in Jakarta on Thursday. Bank Mandiri’s participation in CIPS is a follow-up to the strengthening of economic cooperation and bilateral transactions between Indonesia and China, initiated by Bank Indonesia (BI) and the PBoC.

With this status, Bank Mandiri now has direct access to the international RMB payment network. Direct integration in this mechanism simplifies the transaction process, reduces interbank complexity, and increases the certainty of cross-border transaction settlements. Consequently, customers can gain a more optimal international transaction experience, particularly for trade, investment, and treasury activities with business partners in China.