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Headlines

The Ecosoc News Monitor

23 January 2008

Indonesia's BNI launches Singapore remittance service

Tue Jan 22, 2008 2:41am EST

SINGAPORE, Jan 22 (Reuters) - PT Bank Negara Indonesia BBNI.JK (Persero) and Singapore Post (SPOS.SI: Quote, Profile, Research) said on Tuesday they will offer a remittance service targeted at the over-300,000 Indonesian workers in the city-state.

The service will allow customers to transfer money to Indonesia using 51 designated SingPost branches.

BNI is Indonesia's third-largest lender with 972 branches across the country, while SingPost is the city-state's dominant postal operator.

(Reporting by Kevin Lim)