By Asian Development Bank, Nimal A. Fernando
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Additional info for Commercialization of Microfinance - Indonesia
The Micro Business Division functions as an independent profit center within BRI, and each unit is a profit center within the division. The B RI Units have an extremely efficient management information system that allows management to assess the performance of each unit and apply a sophisticated employee incentive system, which encourages profitability, loan recovery, and savings mobilization. The Micro Business Division freely sets its own loan terms, although transfer prices (discussed below) are set by the parent company.
Cooperatives specializing in financial services are known as Koperasi Simpan Pinjam (KSPs) or savings and credit cooperatives. 93 Multipurpose cooperatives are allowed to provide microfinance if they operate an organizationally differentiated savings and credit unit or Unit Simpan Pinjam (USP). Government intervention in the development of cooperatives was legitimized by Article 33 of the 1945 constitution, which stipulated that the economy has to be organized according to 94 cooperative and family principles.
To raise working capital, PP issues bonds and notes, a favorite on the corporate bond market and one of the most highly traded on the local secondary market. However, during the Asian financial crisis, it also resorted to borrowing from the Government as well as taking BI liquidity credits to meet the greatly increased public demand for loans. 2); the total outstanding loan amount is from ADB (2003). Source: Fernando 2003, p. 4. 2 Expanding Access to Microcredit through Pawning When Ms. Sumarni, a maid working in Jakarta, needed Rp300,000 ($34) to help her brother fix his motorcycle last year, she went to a pawnshop, and took out a short-term loan using an FM radio set and some gold jewelry as collateral.