BPKH Appoints Bank Syariah Mandiri as Custodian Service Provider Worth Rp5.5 Trillion

BPKH Appoints Bank Syariah Mandiri as Custodian Service Provider Worth Rp5.5 Trillion

Jakarta, October 19, 2020 – PT Bank Syariah Mandiri (Mandiri Syariah) has received the mandate and appointment of the Hajj Fund Management Agency (BPKH) as a Sharia Commercial Bank providing Custodian services to administer sharia securities worth Rp5.5 trillion belonging to BPKH.

The appointment was ratified through the signing of a cooperation agreement for the administration of Custodian Bank Services for Sharia Securities Investment by Mandiri Syariah to BPKH.

The signing ceremony was carried out virtually by the Head of the Executive Board, Dr. Anggito Abimanyu, MSc and Mandiri Syariah President Director Toni EB Subari with the presence of Mandiri Syariah President Commissioner Mulya E Siregar, BPKH Executive Board Member Dr. Beny Witjaksono, S.P, MM, Mandiri Syariah Director of Finance, Strategy and Treasury Ade Cahyo Nugroho and Mandiri Syariah Director of Distribution and Sales Anton Sukarna in Jakarta, on Monday (19/10).

In his remarks, Toni EB Subari expressed his appreciation for BPKH’s trust in Mandiri Syariah to administer the sharia securities investment portfolio managed by BPKH. “As a state institution that manages funds for prospective Hajj pilgrims throughout Indonesia, the duties and mandate of BPKH inspire us to participate in supporting BPKH activities. in managing the funds of prospective Indonesian Hajj pilgrims, among others, through the provision of Custodian services for BPKH sharia securities investments,” said Toni.

Toni further added that this collaboration becomes a contribution of BPKH’s support for sharia banks and sharia capital market investment services in Indonesia.

Meanwhile, the Head of the BPKH Executive Board, Anggito Abimanyu, stated that in managing sharia investments, BPKH strives to use sharia-based services, including the Custodian of Sharia Commercial Banks. “BPKH supports the development of the sharia finance industry including its services, and BPKH hopes that its steps will be followed by other investors,” said Anggito.

In addition, according to Anggito, BPKH’s move to appoint Mandiri Syariah as a Custodian service provider to administer sharia securities supports the government’s plan to merge 3 SOEs Sharia Banks and realize Indonesia’s Road Map dream as the largest Sharia Banking Hub in the world. This also has an impact on improving services to pilgrims in Indonesia indirectly. BPKH is committed to continuing to increase the value of benefit of managed Hajj funds based on safe, accountable and transparent sharia principles.

To date, Mandiri Syariah is the first Sharia Commercial Bank to have Custodian services consisting of Core Custody (Safekeeping) and Fund Administration (Mutual Fund Administration), as well as Trustee services (monitoring agent, guarantee agent, payment agent).

Since its launch in mid-2019, Mandiri Syariah Custodian has won the trust of banking customers, insurance companies and investment and corporate managers, as well as more than 2,000 retail customers with a total Asset Under Custody of 3.8 trillion.

In general, the development of sharia capital market products consisting of sharia shares, corporate sukuk, sharia mutual funds, and state sukuk has had positive growth in the last 5 years.

This growth is reflected in the total of products, capitalization value, outstanding value, and net asset value. Custodian is the commitment of Mandiri Syariah to complete services as the largest sharia commercial bank in Indonesia in meeting the needs of the Indonesian sharia capital market ecosystem.

Mandiri Syariah is optimistic that the potential for the development of the sharia capital market in Indonesia is still very huge. Just as BPKH interprets its investment management as a whole, Mandiri Syariah sees that other stakeholders from the banking sector, insurance, investment managers and corporations, government institutions, to retail customers who invest in sharia securities, have a need to store their sharia securities in the custodian of sharia commercial banks.

To that end, Mandiri Syariah is committed to continually support the development of the sharia capital market in Indonesia. “Hopefully in the future there will be more Sharia Financial Institutions that will use Mandiri Syariah Custodian services,” he said.

“We also hope that BPKH as a big investor in the Indonesian sharia capital market will continue to increase its sharia securities portfolio. Hopefully this Custodian collaboration can be a common symbol in supporting the development of the sharia finance industry in Indonesia. It also can provide optimal value of benefit for the benefits of hajj pilgrims and people,” concluded Toni.


BPKH Communication and Public Relations Division

Mobile: 081316165885

Email: humas@bpkh.go.id 

Instagram: @Bpkhri

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