Sarinah Signs MOU with Bank Tabungan Negara

On 10th December 2015, iconic Indonesian retailer Sarinah signed a memorandum of understanding (MOU) with Bank Tabungan Negara (‘Bank BTN’) at the grand ballroom of the Kempinski Hotel in Jakarta. The signing was carried out by President Director of Sarinah, Ms Ira Puspadewi alongside the President Director of Bank BTN, Mr Maryono in tandem with three state-owned enterprises including President Director of Antara News, Mr Saiful Hadi. Prominent attendees of the event also included President Director for the Centre for Banking Crisis Mr Achmad Deni Daruri; Member of Executive Management of Housing Development Finance Corporation Limited Mr Joseph Conrad D’Souza; renowned Indonesian economist Mr Anton Hendranata; as well as InfoBank’s Research Bureau Director, Mr Eko Supriyanto. The MOU signing was part of Bank BTN’s 39th anniversary of its home mortgage loan programme and as such featured a performance by the bank’s brand ambassador, local singer, Ms Syahrini.

The newly-formed cooperation between Sarinah and Bank BTN illustrates the importance of housing finance in driving Indonesia’s economic growth as highlighted during the ‘The Outlook on the Economy, Banking, and Property Industries in 2016’ seminar. Through the initiation of the MOU, Sarinah employees are poised to enjoy improved home mortgage loan facilities with Bank BTN in keeping with the bank’s measures to stimulate growth in the property industry. In doing so, Sarinah employees are set to become part of Bank BTN’s ‘One Million Homes’ programme demonstrating the company’s commitment to support fellow state-owned enterprises. The MOU – valid for a period of one year – is a prime example of Sarinah’s active engagement with state-owned enterprises sharing a similar dedication to driving progress.