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Bank of Banks

Sector: Raw Materials • Location: Indonesia

Source: International Finance Corporation (IFC)

Project
Completed

_x000C_The project involves establishing the first microfinance wholesale bank in Indonesia, Bank of Banks (BoB or the Bank), which will serve the vast and under-served Indonesian microfinance institutions (MFIs). The wholesale bank will provide full-fledged financial products and services, which are currently unavailable to thousands of qualified MFIs throughout the country. Subsequently, working

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The project “Bank of Banks” is an infrastructure initiative in the Raw Materials sector, located in Indonesia. Taiyo aggregates data on it from International Finance Corporation (IFC).

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Participants

Sponsoring Agency

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Company

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Status

Original status

completed

Taiyo status

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Taiyo last update

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Available timestamps

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Contact

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Email

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Address

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Description

Description

_x000C_The project involves establishing the first microfinance wholesale bank in Indonesia, Bank of Banks (BoB or the Bank), which will serve the vast and under-served Indonesian microfinance institutions (MFIs). The wholesale bank will provide full-fledged financial products and services, which are currently unavailable to thousands of qualified MFIs throughout the country. Subsequently, working in partnership with the wholesale bank, MFIs will be able to extend a range of innovative financial products to their clients, the micro enterprises, including remittances, micro-insurance and technology-enabled services including ATMs and E-banking. The project involves an IFC’s equity investment of up to $5 million equivalent to participate in the purchase of the license of a small local commercial bank, PT Bank Sri Partha (BSP), and to provide seed capital to allow a start up operation of BoB.

Original sub-sector

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Original Currency

USD

Original budget

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Location

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Source

Source reliability

High

Data quality score

100%

Source

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URL

obfuscated_data,obfuscateddata.com

More Details

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