2010
Better Legacy for Better Indonesia
Annual Report 2010 PT Bank Syariah Mandiri
Better Legacy for Better Indonesia Better Legacy
Better Legacy is defined as our commitment to provide the next generations in BSM with a better legacy. This commitment has been implemented in our work principles at our best capability, prudence and compliance at any place of duty.
For Better Indonesia
For Better Indonesia is defined as an expression of our shared nationalism spirit among BSM employees. BSM sees that all achievements and performance represent common endeavors to enhance the welfare of Indonesian people.
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PT Bank Syariah Mandiri Annual Report 2010
Letter of Statement on Responsibility for Accuracy of Contents of the 2010 Annual Report of PT Bank Syariah Mandiri This Annual Report, along with the Good Corporate Governance Report, Financial Report and other related Information are under the responsibility of the BSM Management and have been approved of by all members of the Board of Commissioners and Board of Directors as confirmed with the following, respective signature:
Board of Commissioners
Achmad Marzuki President Commissioner/Independent Commissioner
Abdillah Independent Commissioner
Ramzi A. Zuhdi Independent Commissioner
Tardi Commissioner
Lilis Kurniasih Commissioner
Board of Director
Yuslam Fauzi President Director
Hanawijaya Director
Amran Nasution Director
Sugiharto Director
Zainal Fanani Director
Achmad Syamsudin Director
PT Bank Syariah Mandiri Annual Report 2010
3
Financial Highlight
Description
A. Balance Sheet
1. Asset
2. Earning Assets
3. SBIS/SWBI Certificate Placement
4. Disbursed Financing
5. Liabilities
6. Temporary Syirkah
7. Issued Securities
8. Third Party Fund a. Current Accounts b. Saving c. Deposit Accounts
9. Equity
B. Income Statement
Fund Management Income by the Bank as Mudharib
Third Party Right to Temporary Syirkah Fund Profit Sharing
Management Income by the Bank as Mudharib – Net
Fee Based Income
Operating Profit
Profit Before Tax
Net Profit – Current Period
Basic Earning per Share
C. Basic Ratios
Capital Adequacy Ratio (CAR)
Return on Asset (ROA)
Return on Equity (ROE)
Financing to Deposit Ratio (FDR)
Non Performing Financing to Total Financing – Net (NPF NET)
Non Performing Financing to Total Financing – Gross (NPF GROS)
Net Profit Sharing Income to Earning Assets (NIM)
Current Assets to Current Liabilities
Liabilities to Equities (DER)
Liabilities to Assets (DAR)
Office Network Employees ATM Networks (BSM, Bank Mandiri, ATM Bersama, ATM Prima, MEPS) Notes: 1. At the year end of 2010, BSM has not conducted the trade of share activity, so there is no information dealing with the highest share price, the lowest and closing as well as volume of share traded
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PT Bank Syariah Mandiri Annual Report 2010
In Billion IDR, Except Financial Ratio 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
933
1,622
3,422
6,870
8,273
9,555
12,885
17,066
22,037
32,482
856
1,496
3,155
6,404
7,971
8,913
12,269
16,399
21,319
30,744
196
269
795
325
1,373
780
670
1,305
2,381
3,412
653
1,141
2,171
5,296
5,848
7,415
10,326
13,278
16,063
23,968
99
205
575
1,420
1,700
2,658
2,647
2,343
3,273
5,010
426
979
2,398
4,901
5,940
6,200
9,427
13,315
16,963
25,251
200
200
200
200
400
200
200
200
2,629
5,725
7,037
8,220
11,106
14,898
19,338
28,998
- 475
- 1,117
56
147
298
981
1,261
2,054
1,846
1,812
2,591
4,015
187
336
753
1,536
1,958
2,668
3,872
5,284
7,163
9,873
232
634
1,578
3,208
3,818
3,498
5,388
7,802
9,584
15,110
408
438
450
549
633
697
811
1,208
1,600
2,021
108
163
279
584
865
934
1,197
1,736
2,071
2,768
32
71
148
269
386
455
512
768
902
1,162
76
92
131
315
479
479
685
968
1,169
1,606
6
35
52
102
94
145
210
301
347
567
24
42
23
141
137
101
167
283
426
580
25
43
25
150
137
95
168
284
418
569
17
30
16
103
84
65
115
196
291
419
233
421
221
1,443
1,169
914
1,611
1,759
2,210
3,179
63.18%
39.29%
20.87%
10.57%
11.88%
12.56%
12.43%
12.66%
12.39%
10.60%
3.30%
3.58%
1.04%
2.86%
1.83%
1.10%
1.53%
1.83%
2.23%
2.21%
4.43%
7.40%
3.61%
22.28%
23.39%
18.27%
32.22%
46.21%
44.20%
63.58%
76.20%
74.55%
82.57%
92.50%
83.09%
90.21%
92.96%
89.12%
83.07%
82.54%
1.10%
2.32%
1.97%
2.68%
4.64%
3.39%
2.37%
1.34%
1.29%
4.53%
3.45%
2.89%
2.42%
3.50%
6.94%
5.64%
5.66%
4.84%
3.52%
10.61%
8.22%
7.12%
6.91%
6.83%
5.63%
6.31%
6.73%
6.62%
6.57%
333.65%
318.85%
427.24%
162.26%
207.16%
118.60%
171.09%
225.37%
209.34%
202.90%
128.79%
47.23%
127.79%
258.78%
268.79%
381.16%
326.19%
193.87%
204.53%
247.94%
56.29%
12.66%
16.79%
20.67%
20.55%
27.81%
20.54%
13.73%
14.85%
15.42%
32
44
88
134
164
212
270
313
390
507
722
959
1,377
1,913
2,127
2,032
3,003
3,493
4,544
7,902
732
1,300
2,133
7,733
13,709
13,291
22,187
27,199
34,924
47,000
2. At the year end of 2010, BSM has not issued bonds, sukuk or convertible bonds, so there is no information regarding outstanding amount, level of interests or Incentives, maturity period and ratings of bonds/sukuk/ convertble bonds issued.
PT Bank Syariah Mandiri Annual Report 2010
5
Financial Highlight
35,000
Total Asset
32,482
30,000
2,500
25,000
2,000
15,000 10,000
30,000
6,870
8,273 9,555
17,066 12,885
1,000
3,422 933 1,622
584
1,197
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Total Financing
Revenue From Fund Management As Mudharib - Net
2,000 23,968
10,000 653 1,141
2,171
5,296 5,848
7,415
1,606 1,500 1,169
16,063 13,278 10,236
1,000
968 685
500 76
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Third Party Fund
28,998
92
131
315
479
479
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
700
30,000
Operating Profit
580
600 500
25,000 19,338
20,000 15,000 10,000 475 1,117
2,629
5,725
7,037 8,220
426
400 283
300
14,898 11,106
200 100
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2,500
279
934
500
15,000
5,000
108 163
865
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
20,000
35,000
2,071 1,736
1,500
25,000
5,000
2,768
22,037
20,000
5,000
3,000
Revenue From Fund Management As Mudharib
Total Equity
2,021
24
42
137
101
167
23
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
500
2,000
141
Net Income
419
400
1,600 1,500
1,208
1,000 500
408
549 438 450
633 697
811
291
300 196
200 103
100 17
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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PT Bank Syariah Mandiri Annual Report 2010
30
16
84
115 65
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
500
507
Office Network
313
300
4,554
212 134 100
32
44
4,000
164
1,913 2,127 2,032
2,000
88
722
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000
7,902
6,000
270
200
Total Employees
8,000
390
400
10,000
Total ATM Networks
3,003
3,493
959 1,377
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
47.000
34,924 27,199 27,199 22,187 13,709 13,291 732 1,300 2,133 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
PT Bank Syariah Mandiri Annual Report 2010
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Board of Commissioners Report
At the year-end of 2010, PT Bank Syariah Mandiri (Bank) significantly reached most of the targets preset in the 2010 Bank Business Plan, including the targets of third party fund, financing, earning assets quality and net profit after tax realization.
Achmad Marzuki President Commissioner | Independent Commissioner
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PT Bank Syariah Mandiri Annual Report 2010
Assalaamualaikum Wr. Wb.
through: Board of Directors and Board of Commissioners Meeting (Radirkom), Board of Commissioners and Board of Directors Meeting (Rakomdir).
In line with the Law Number 21 of the Year 2008 on Sharia Banking and Bank Indonesia Regulation Number 11/33/PBI/2009 on Implementation of Good Corporate Governance (GCG) for Sharia Commercial Banks and Sharia Business Units, the Board of Commissioners has performed its duties and responsibilities independently on the basis of good corporate governance.
Radirkom
Pursuant to the decision issued by the Extraordinary General Shareholders Meeting on 29 June 2010, the Board of Commissioners structure has been changed with the appointment of Mr. Ramzi A. Zuhdi as Independent Commissioner, changing the Board of Commissioners membership from 4 (four) to 5 (five) persons.
Bank Performance Report Bank Performance Report discusses achievement of financial and non-financial targets. The Board of Commissioners delivers its opinion, suggestion and advice on the performance report and current issues, including advice and operational inputs for the next term of duty.
The Board of Commissioners is committed to being proactive in exercising its Bank supervisory function, encompassing strategic planning formulation, Bank Business Plan preparation and implementation, performance monitoring, risk management and GCG implementation.
Bank Performance Report discusses, among others, achieved realization compared to the target as well as the corresponding factors behind the successful or unsuccessful target realization. Financial performance discusses, among others, earning assets, financing, third party fund, profit, fee based income, CAR and other financial ratios. Meanwhile, non-financial targets include developments in networks and employment.
In exercising its supervisory and advisory functions, the Board of Commissioners embarks on various formal and informal meetings, written inpus and recommendations to the Board of Directors. Regular meeting agenda with the Board of Directors, Executive Directors and work units include: monthly performance, risk profile, Bank financial soundness level, internal audit, human capital, NPF handling, information technology, GCG implementation, etc In support to its function and duty implementation, Board of Commissioners is assisted by the Audit Committee, Risk Monitoring Committee, and Remuneration & Nomination Committee. In line with their duties, the Committees regularly interact with the Management and Work Units.
Radirkom is hosted by the Board of Directors by inviting the Board of Commissioners for discussing such issues as:
At the year-end of 2010, PT Bank Syariah Mandiri (Bank) significantly succeeded to reach most of the targets preset in the 2010 Bank Business Plan, such as in third party funding, financing, earning asset quality, and net profit after tax. Unrealized targets include capital level. Regardless of below target capital level, it is above the legally required level. Third party funding was still dominated by Time Deposit, with consumer/non-institution funding on the highest concentration. Disbursed financing was above the target with the highest concentration on noncorporation/Small to Medium enterprises segment that continues growing.
Earning Asset Quality as indicated by the Non-Performing Financing (NPF) either in gross or net to Earning Asset ratio (APYD/AP) is higher than the target. The financial achievements are also supported by various non-financial achievements including network expansion, improvements in internal control and supervision, customer service, human capital competency, and general achievements as targeted. Bank Financial Soundness Level Based on the central bank regulation PBI Number 9/1/PBI/2007 dated 21 January 2007 on Sharia Commercial Bank Financial Soundness Level evaluation, the Bank conducted self-assessment evaluation. Bank Financial Soundness level represents a benchmark of the Bank capability to survive the impacts of economic and financial industry conditions. The Bank Financial Soundness level self-assessment includes the aspects of capital, asset quality, rentability, liquidity, sensitivity toward market and management risks. The Bank Capital Adequacy Ratio for the January 210 – July 2010 period held level 1 with capital adequacy ratio above 12%. Level1shows a capital level significantly above the Minimum Capital Adequacy Requirement (KPMM). However, for the August 2010 – December 2010, the ratio slightly decreased to the 10.60% - 11.87% range on the level 2. The level 2 shows that the ratio is still higher (lower than before) than the Minimum Capital Adequacy Requirement and is expected to improve within 12 months. The 2010 asset quality ratio fluctuated between levels 2 and 3 in October, November and December, while in other months it was on the level 3. The asset quality ration in December 2010 was 0.97% or level 2. This level shows good asset quality with an
The Board of Commissioners supervisory functions are exercised among others
PT Bank Syariah Mandiri Annual Report 2010
9
Board of Commissioners Report
insignificant weakness. Financing has been conducted properly in line with the existing policy and procedure, pursuant to the Bank business scale as well as in support of secure and sound operational activities of the Bank. The ratio of rentability during 2010 were on rank 2. Predicate 2 shows ability of high profitability to anticipate potential of losses and increase capital.
The Bank Financial Soundness reached level 2. This level represents good capacity and the management could overcome negative effects of economic and financial industry conditions.
The 2010 liquidity ratio fluctuated betweel levels 2 and 3. In December 2010, the main liquidity ratio was on level 3 This level indicates the Bank liquidity capacity to anticipate liquidity needs and implementation of adequate liquidity risk management. Sensitivity ratio towards market risks in 2010 stood at a very high level as it stood at level 1. This level shows a very low risk, effective and consistent market risk management. The management components, consisting of general management, risk management and compliance management in December 2010 reached the level value of A. This shows that the Bank Management shows a highly satisfactory track record that is independent and solid with high adaptability towards changes in external conditions and a strong risk control system. In the January 2010 – September 2010 period, the risk management level stood at A. But in October 2010 the level was down to B due mainly to the operating risk arising from the increase in human resource and office network significant expansion. But the Bank could mitigate the rising risks by strengthening the risk management infrastructure and internal control system, allowing for upcoming improvement in risk management. Throughout the year 2010, in general the Bank Financial Soundness reached level 2. This level represents good capacity and the management could overcome negative
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PT Bank Syariah Mandiri Annual Report 2010
effects of economic and financial industry conditions. Bank Risk Profile The risk profile describes the risk level inherent with all activities of the Bank and adequacy of risk control systems. The BSM risk profile system in December 2010 shows that the composite risk of the Bank in general was low with trend of stable. In 2010, result of BSM risk assessment shows that most of the risk is at a predicate of low risk among others market risk, liquidity risk, legal risk, reputation risk, strategic risk, and compliance risk. Meanwhile the credit risk level was close to moderate, but in December 2010 the credit risk improved to low. For the semester I of 2010, the operating risk was low, but in semester II 2010 it was down to moderate. Internal Audit Implementation Internal audit implementation is performed regularly by the internal audit work unit. The audit operational target, incompliance findings, and audit report quality are among several issues under quarterly review by the Board of Commissioners through the Audit Committee.
Rakomdir The Board of Commissioners and Board of Directors Meeting (Rakomdir) is hosted upon the initiative of the Board of Commissioners to invite the Board of Directors or Executive Directors to a specific discussion agenda for further deliberation on such issues as: Operational Risk Information Technology Development (core banking system). The Board of Commissioners shows full support to the new core banking system development by active monitoring on each process. The Board of Commissioners has asked the Board of Directors to assure that all existing potency and resources are focused on supporting
successful implementation of the new CBS as scheduled. Human capital policy, and education and training programs. The implementation of policy on human capital, education and training programs in the Bank in general has been adequate. Improvement in employee recruitment process, professionalism development, compensation and benefit, and employee training has been consistently carried out by considering manning analysis (a method to find out the size of employee need based on work load and/or orporate values).
In general, the level of compliance was relatively good with an upwards trend from 92.79% in December 2009 to 93.38% in December 2010 (high level of compliance).
Compliance Risk Internal/external audit implementation is regularly carried out. The Board of Commissioners has asked the Management to launch a crash program on the settlement of Follow-Up Monitoring List (DMTL) that brings in quite significant outputs. Strategic Risk Corporate Plan and Increase in Bank Capital. Concerning the Bank corporate plan preparation, the Board of Commissioners consistently monitor the latest developments, inclusive of offering inputs and advice in case of implementation constraints.
Division Compliance Index (DCI), Branch Compliance Index (BCI), KYC Index, and GCG Index. Apart from the Compliance Certificate that earned a very high value, other parameters earned high values. In general, the level of compliance was relatively good with an upwards trend from 92.79% in December 2009 to 93.38% in December 2010 (high level of compliance).
Daily Report The Board of Commissioners conducts regular (daily) monitoring on the daily balance sheets and Net Open Position (PDN). Throughout the 2010 period, no fraud was found and the Net Open Position remained safe. The Board of Commissioners sees that in general, the Management in the 2010 period embarked on consistent efforts to achieve its best in bank performance and realization of the preset business plans. In general, the Bank succeeded to achieve the preset targets, both quantitatively and qualitatively. The Board of Commissioners also sees that the Bank has implemented good corporate governance, adequately run internal control systems, and the Internal Audit Work Unit has been implemented effectively and independently.
Compliance Performance The Board of Commissioners conducts compliance performance monitoring through the performance report and compliance supervisory results by the compliance work unit. The value or ratio under review are compliance index, prudence principle implementation, Bank financial soundness level, and fraud indications. Under the compliance index, the Board of Commissioners sheds focus on such parameters as Corporate Compliance Index (CCI), Compliance Certificate (CC), Compliance Self Assessment (CSA), Zero Defect Index (ZD), Regulation index (RI),
Issues in need of Management Attention Based on the supervision on realized performance, Bank work plan implementation, and in support of sustainable growth, the Board of Commissioners has hand down a list of issues in need of consistent attention from the management in pursuit of performance improvement that includes the following:
PT Bank Syariah Mandiri Annual Report 2010
11
Board of Commissioners Report
The Bank capital must adequately support the targeted business expansion and growth. Although the Capital Adequacy Ratio (CAR) is well secure, the Bank needs to take such several stepas as: realization of capital injection by PT Bank Mandiri (Persero) Tbk as the Shareholder, fund disbursement of earning assets with low level of Risk Weighted Assets (ATMR) and issuance of Medium Term Note (MTN).
The year 2011 will be highly challenging, business requiring achievement as planned, as well as marking the commencement of corporate plan and new core banking system implementation.
In pursuit of sustainable financing growth and earning asset quality improvement, the Bank needs to continue taking proactive steps more significantly and consistently concerning the financing expansion with focus and higher prudence on Micro, Small and Medium business segments; develop scoring system of micro-small financing for financing process efficiency improvement; intensify monitoring and early detection through mapping and watch list on goodrecord financing customers with potential collectivity degradation, and improve human capital in charge of financing especially those who directly get involved in the financing process. The Bank should maintain and maximize rentability by such steps as: prudent and secured financing disbursement; overhead control system that assures of budgetary discipline and efficiency on all activities, without lessening Bank service quality and operations; intensifying the consumer funding program and preparing more affordable yet stronger retail funding structure, especially designed for saving account fund target achievement and growth; requiring financing applicants and their counterparts to open accounts in the Bank; mapping of financing customers/ prospective customers for account monitoring and transfer to the Bank; intensifying and expanding fee-based income, particularly remittance, trade, e-banking and other transactions.
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PT Bank Syariah Mandiri Annual Report 2010
The Bank should maintain its liquidity and Third Party Fund growth through consumer funding expansion and relative decrement of institutional funding, expand the networks and increase corporate promotion intensively. To keep the Bank risk level low risk and stable, the Bank needs to take such steps as: improving employee understanding on Bank risks; enhancing service quality and strengthening technology infrastructure, implementing the new core banking system along with its supporting applications, upgrading employee competency and capability through training and e-learning programs. Concerning the Bank prospects and rapid developments in the coming years, as boosted with implementation of the Bank 2011-2015 corporate plan, the Board of Commissioners sees that the plan will be realized with due consideration on future economic conditions, government policies, shareholder support, improvement in the organization, networks, human capital, risk management and technology. The year 2011 will be highly challenging, business requiring achievement as planned, as well as marking the commencement of corporate plan and new core banking system implementation. The Board of Commissioners recommends that all processes be carried out with prudence and with support of ETHIC shared value implementation by all Bank employees. Finally, on this occasion, the Board of Commissioners would like to thank all Stakeholders for their attention, support and contribution to BSM developments. To the Board of Directors along with the support officers, we hereby express our appreciation and congratulations on the achievements on hand.
Similarly, the Board of Commissioners Report of implementation of supervision programs is in 2010. The Board of Commissioners Report on supervision programs for the year 2010 is hereby disclosed. May Allah SWT always bestow blessings on all of us. Wassalaamu’alaikum Wr.Wb.
PT Bank Syariah Mandiri Board of Commissioners
Achmad Marzuki Presudent Commissioner/Independent Commissioner
Abdillah Independent Commissioner
Lilis Kurniasih Commissioner
Ramzi A. Zuhdi Independent Commissioner
Tardi Commissioner
PT Bank Syariah Mandiri Annual Report 2010
13
Board of Sharia Supervisory Report
All product features of funding, financing and operational services have won approval from SSB to assure of product compliance with the sharia principles.
Dr. M. Syafii Antonio, M. Ec.
14
PT Bank Syariah Mandiri Annual Report 2010
Prof. KH. Ali Yafie
Drs. H. M. Hidayat, MBH.,MH.
Bismillaahirrahmaanirrahiim Operational activities of BSM are supervised independently by the Sharia Supervisory Board (SSB) whose members are appointed by the National Sharia Board (NSB), an institution under the Indonesian Council of Ulema (CoU). All product features of funding, financing and operational services have won approval from SSB to assure of product compliance with the sharia principles. Activities of the Sharia Supervisory Board in 2010 include: 1. Providing statements that BSM products and services have been compliant with the fatwa issued by NSB. 2. Providing statements and opinion on all operational guidelines and product manuals. 3. Submitting sharia supervisory report to Bank Indonesia once in every semester of 2010, covering, among others, the following subjects:
a. Results of supervision and compliance of the bank operational activities with the fatwa issued by the National Sharia Board Indonesian Council of Ulema (NSBCoU), review system and procedure of new product. b. Results of supervision of Bank activities include fund raising, fund distribution, and services of the Bank. Form of supervision is analysis of internal audit reports, the determination and examination of the number of test transactions quotes, review of SOPs related aspects of sharia. c. SSB General opinion of Bank operasion per period. Period I is namely 1 January 2010 to 30 June 2010 and period II is namely 1 July 2010 to 31 December 2010. d. SSB General opinion of fund raising activities, and services of the Bank. By presenting data in the form: the number of SE (Circular Letters),
financing data and opinions of SSB on new Bank products. e. Methodology and retrieval technique of sample examination. We hope that BSM consistently cultivate noble character building as the essence of corporate culture. In addition, the existing cooperation and coordination maintained through periodic meetings for discussing various aspects of company operations should be further improved. We are grateful to express our appreciation to the Management for all achievements of BSM including the growing expansion of product and service networks to meet the public needs.
Jakarta, 20 February 2011 PT Bank Syariah Mandiri Board of Sharia Supervisory
Prof. K.H. Ali Yafie Chairman
Drs. H. Mohamad Hidayat, MBA., MH. Member
Dr. M. Syafii Antonio, M.Ec Member
PT Bank Syariah Mandiri Annual Report 2010
15
Board of Directors Report
The Company has taken an advantage of growth momentum of global and national economy and the conducive banking industry to improve the performance. Praise be to Allah in 2010, the Company’s performance shows satisfactory results.
Yuslam Fauzi President Director
16
PT Bank Syariah Mandiri Annual Report 2010
Assalaamualaikum Wr Wb We are fully thankful to Allah the Almighty for blessing and mercy so that Bank Syariah Mandiri is able to come through the year 2010 with the encouraging results. We, on behalf of the Board of Directors and also all of PT Bank Syariah Mandiri ‘s Management report on the Company’s performance in 2010
bank (conversion of conventional banks into Islamic banks), by conducting a spin-off sharia business units (SBU) to Islamic Bank (IB), as well as with other business expansion. In 2010, there were additions of five Islamic Banks (IB), both from the conversion and spin off. This is an addition of the highest IB perpetrators in the history of Indonesia Sharia banking. The addition of five new Islamic Banks (IB) impacts on the high competition in Sharia banking.
Banking and Economic conditions Along with a more conducive global economic conditions in 2010, Indonesia had many economic improvement. National economic grew by 6.1% in 2010, higher compared to the year 2009 by 4.6%. During 2010, the average exchange rate rose by 3.8%, originally Rp9,081 per US dollar . The conducive economic conditions encourages the development of national banks positively. Funding of national banks grew 18.5%, credit grew 22.8%. CAR decreased slightly initially 17.42% in 2009 to 17.18% in 2010. Gross NPL decreased (improved) from 3.8% to 2.9%. Intermediation function of the national banking is also experiencing repair, where the ratio of credit against the pooled funds (Loan to Deposit Ratio) increased from 72.88% in 2009 to 75.21% in 2010.
Development of Sharia Banking Public confidence in the Sharia banking continues to increase from year to year. Indicators that can be used is the increase of market share of Islamic banking, both of funding, financing, or asset. Market share of funding increased from 2.65% in 2009 to 3.25% in 2010. Market share of financing increased from 3.26% in 2009 to 3.86% in 2010. Market share of assets increased from 2.61% in 2009 to 3.24% in 2010. Increasing of public interest against Sharia banking is addressed in a positive by many bankers, namely by opening new Sharia
2010, from 6 IB in 2009 to 11 IB in 2010 or an increase of 83.00%. In terms of market share of earnings, the Company provides the largest contribution to total profits collected by sharia banking. The Company recorded a profit amounting to Rp418. 52 billion, ie 39.87% of the total profits of sharia banking. It becomes its own advantages in the face of business competition in the future.
Key Financial Performance Development of Bank Syariah Mandiri The Company used the momentum global and national economic growth and the conducive banking industry to improve the performance. Praise in the year 2010, the Company’s performance shows the satisfactory results. The Company is able to maintain the intermediation function. The ratio of funding distribution to the raising of public funds of the Company amounted to 82.54%. Whereas LDR of national banking amounted 75.21%.
1. Funding BSM third-party fund growth in 2010 was the highest since 6 last year. This growth occurred even when the sharia banking competition is its peak.
In 2010, deposits grew 49.95% or Rp9. 66 trillion from Rp19. 34 trillion in 2009 to Rp29. 00 trillion in 2010. Meanwhile, Sharia banking deposits grew 45.48% from Rp52. 27 trillion in 2009 to Rp76. 04 trillion in 2010.
BSM also continues to maintain the ratio of consumer funds and cheap funds. Total funding of the Company since the last 6 years was always dominated by consumer funds (funds derived from individual customers). As of late December 2010, consumer funds contributed 57.03% of total third party funds.
Growth was also fueled by the growth of the great account (customer base) . The amount of funding accounts at the end of 2010 reached 2.210.042 accounts, increased 38.24% or an increase of 611.313 accounts from 2009.
In 2010, there was a change of composition of the Board of Directors, in accordance with the results of Decree of Extraordinary General Meeting of Shareholders on June 29, 2010, namely with respect dismiss Sri Sulistyowati of Directors and raised Achmad Syamsudin as a Director.
Market share Public confidence in the Company can be seen from the increasing of market share of funding and financing. Market share of funding increased by 1.14% from 37.00% in 2009 to 38.14% in 2010. Financing market share increased by 0.75% from 34.26% in 2009 to 35.01% in 2010. Meanwhile, the market share of assets less depressed by the swift increase in capital in Sharia banking. Total capital in the sharia bank increased 206.53% from Rp1. 95 trillion in 2009 to Rp 5. 96 trillion in 2010. This is due to the addition of five new IB in
2. Financing Company financing Growth amounting to 49.21% was also the highest growth since the last 6 years. This growth is also above growth in the sharia banking industry. Sharia banking is only grew 45.14%.
PT Bank Syariah Mandiri Annual Report 2010
17
Board of Director Report
During the year 2010, financing of the Company grew 49.21% or Rp 7, 91of Rp16 trillion in 2009 to Rp23, 97 trillion in 2010.
During the year 2010, financing The Company grew 49.21% or Rp7.91 of Rp16 trillion in 2009 to Rp23.97 trillion in 2010. Meanwhile, financing of Shariah banking grew 45.40% from Rp46.89 trillion in 2009 to Rp68.18 trillion in 2010. Company financing distribution also refers to the company’s mission, namely the focus on SME financing. Throughout the year 2010, the Company managed to increase the portion of financing of SME from 65.01% in 2009 to 66.62% in 2010. In addition to the good growth, The Company has also paid attention on the prudential aspects. By ensuring business continuity of the Company. Praise to Allah business is good for increasing the quality of the financing of the Company. Ratio of Non Performing Loan (NPF) of Bank on a gross basis decreased (improved) from 4.84% in 2009 to 3.52% in 2010. In net, NPF of Bank decreased improved) from 1.34% in 2009 to 1.29% in 2010.
3. Other Banking Services As a form of modern banking service, the Company provides modern banking services. this impact on financial performance of the Company, in particular Other Operating Revenues. Other Operating Income Portion to total revenue in 2010 reached 16.99%. Other Businesses revenue was contributed from various sources of income, both revenue-based productive assets, based on product funding, and based on transaction. The main contributors to this revenue derived from the hajj services and other operating income. 4. Profitability Throughout the year 2010, the Company managed to maintain optimal profitability. Trend yield performance of the equity average (ROE) of BSM
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PT Bank Syariah Mandiri Annual Report 2010
showed an increase. ROE BSM year 2010 amounted to 63.58% higher ROE compared to the year 2009 amounted to44.20%. ROE of the Company in 2010 also is above the average of ROE 5 (five) Shariah Commercial Bank of National Banking amounting to 17.62%. Such provements primarily due to achievement of significant net earnings compared to the previous year. The yield on average of assets (ROA) The Company declined slightly from 2.23% in 2009 to 2.21% in 2010. This due to business competitive pressures in which in 2010 occurred a high level of competition due to IB increased from six banks into 11 banks. However, although Company ‘s ROA experienced a little reduction, the achievement is still more greater than the ROA average of other five Sharia Commercial of 1.67%.
5. Bank Soundness As of the end of December 2010 level of the Company soundness succeed to obtain the predicate of Good. The soundness assessment is conducted by the method of self assessment (vide PBI 9 / 1 /PBI/2007 dated January 24, 2007 and SE BI No.9/24/DPbS October 30 2007 consists of General Management, Risk Management and Compliance Management). It is a belief for all stakeholders role that the continuity of The Company’s business can be maintained. 6. Business efficiency In terms of efficiency, Operating Expense Ratio Against Operating Revenue (BO / PO) tends to be stable at the level of 74.97%, lower (better) than average BO / PO 5 (five) Sharia Commercial Bank at 80.54%. To improve the BO / PO, the Company continues to improve productivityby optimizing the operational revenueand operational cost control.
Good Corporate Governance (GCG) GCG implementation is a long process to result in sustainable values. GCGactualization as a system is conducted through an internal process involving the Board of Commissioners, Directors, the Sharia Supervisory Board and the entire employees.
In 2010 , GCG Index for the second semester achieved a score of 90.67 with the category ‘Better ‘, up from GCG Index for the first semester with a score of 87.20 category of ‘Good’.
One of the Company’s GCG commitment is conducted through the implementation of the Self- Assessment periodically. There are two types of assessments used to determine the quality of the GCG implementation ie ‘internal self-assessment’ and GCG selfassessment of Indonesia Bank. “ The results of the assessment of BSM internal Self-Assessment (SA) in 2010 has increased. SA is the result of measurement performed on the Board of Commissioners, Directors, Sharia Supervisory Board and other Executives Officers. The result is in the form of GCG semester Index. GCG Index for the second semester achieves a score of 90.67 with the category ‘Better ‘, up from GCG Index for the first semester with a score of 87.20 category of ‘Good’.
LAZNAS BSM has three main programs, namely: Community Partners (Economic Development), Educate Community (Education Assistance), and Sympathy Community (charity activities).
In 2010 BSM has channeled company’s zakat fund in 2008 and 2009 through LAZNAS BSM for Rp15.87 billion, up from the distribution previous period Rp2.89 billion. LAZNAS BSM has been rolled out assistance to 21,524 people with total assistance worth Rp9.52 billion through the three programs.
2. BSM UKM Award 2010: In 2010, the BSM for the third time held a BSM UMKM Award. This activity aims to reward BSM UMKM customers. There are three award categories, namely general category, special category, and green UMKM category (Micro, Small, and Medium).
BI GCG Self-Assessment is conducted pursuant to the Circular Letter of Bank Indonesia No. 12 / 13 / DPbS On 30 April 2010. BSM’s Composite Score of assessment in 2010 is 1.350 with a category “Very Good”.
3. BSM Edu Award 2010: This program is a gift awards to educators which have contributions and benefits for the education community, both formal and informal educators. The program is implemented in cooperation with the Educational Institute of Insani form Dompet Dhuafa (LPI-DD). Nominator elected by employees of BSM from all over Indonesia through e-learning facilities.
Corporate Social Responsibility (CSR)
Appreciation
The Company is committed continuously to become a corporate citizenship.
In 2010, BSM had 16 awards from external parties. We value this award as an objective assessment as well as the motivation for the Company continuously improve the performance in the future. We thank all those who gave appreciation to BSM. These awards are:
The Company has carried out corporate social responsibility (CSR) programs, among others: 1.
Cooperation with LAZNAS BSM The Company formed a partnership with Lembaga Amil Zakat Nasional Bangun Sejahtera Mitra (LAZNAS BSM) in implementing CSR activities.
1. 2.
HR Excellence Award from the Institute of Management FE-UI; Islamic Financial Award of Karim Business Consulting;
PT Bank Syariah Mandiri Annual Report 2010
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Board of Director Report
3. 4. 5.
BSM has 16 awards from external parties. We value this award as an objective assessment as well as the motivation for the Company continuously improve the performance in the future.
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PT Bank Syariah Mandiri Annual Report 2010
Platinum InfoBank Award from the InfoBank Magazine; ABFI Institute Award of PERBANAS; Word of Mouth Marketing Award from the SWA Magazine; 6. Indonesia Golden Best Branch Award from theSWA Magazine; 7. Deals of the Year from Redmoney, Malaysia; 8. Indonesia Deals of the Year from Redmoney, Malaysia; 9. Sovereign Deals of the Year from Redmoney, Malaysia; 10. Indonesian Bank Loyalty Award from InfoBank magazine, MarkPlus; 11. Net Promoter Leader of SWA Magazine; 12. Rating AA-(idn) per 2010, rating has increased to AA (idn) Fitch Rating; 13. The Best Sharia Bank in 2010 from the Investor Magazine; 14. Annual Report Award from the Ministry of Finance, Bank Indonesia, BapepamLK, BEI, IAI, KNKG, Director General of Taxation; 15. Banking Efficiency Award from The Daily Bisnis Indonesia; 16. Corporate Community Award from the SWA Magazine.
Five Main focus of the Company in 2011 are: 1. Capacity Building of Enterprises; 2. Asset Quality Control (APYD and NPF); 3. Improving the Quality of Service; 4. New Core Banking System plementation; and 5. Corporate Plan Project Implementation Year 2011.
Business Challenges Ahead
While the Ten Priorities of Company Working in 2011 are: 1. Optimize the achievement of net income; 2. Increase fund-raising the third party (DPK) and increasing portion of consumer funds and portion of low cost fund; 3. Develop financing carefully by increasing cost sharing on MSME sector; 4. Increase fee-based income 5. Improving business efficiency; 6. Controlling the quality of financing; 7. Improve service quality through increase in Service Quality Index (SQI) and the opening of the outlet; 8. Implement New Core Banking System; 9. Implement Corporate Plan projects 2011 2015 as scheduled, and 10. Strengthen the competency-based human resources through the development of quality and utilization of e-learning.
The economy in 2011 is expected to better than in 2010. On the other hand, the competition in Sharia banking is also predicted to increase. Under conditions of an increasingly challenging business, BSM shall increasingly close ranks, continuing to increase value for all stakeholders role.
Finally, we on behalf of the Board of Directors would like to express our appreciation and thanks to the government, regulator, scholars, community, shareholders, customers, business partners and all employees as well as the large family of BSM for all support and trust that has been given.
To deal with the existing business challenge BSM has established a Business Plan of Bank in 2011 that we pour in Five Main Focus and Ten Priorities.
Hopefully with the incessant support, BSM will continue to manifest themselves as a national pride Bank.
Furthermore, as part of the Board of Directors Report, we will elaborate on the report of BSM’s performance in 2010, as contained in the book of this Annual Report, including the Financial Statements of Balance Sheet and BSM’s Income Statements for the fiscal year 2010. Financial Statements of the Bank year 2010 has been audited by Public Accountant Firm Purwantono, Suherman & Surja (a member firm of Ernst & Young Global Limited) with opinion “unqualified”.
May Allah always bless each of our efforts. Amien. Wassalaamu’alaikum Wr.Wb.
PT Bank Syariah Mandiri Board of Directors
Yuslam Fauzi President Director
Hanawijaya Director
Amran Nasution Director
Sugiharto Director
Zainal Fanani Director
Achmad Syamsudin Director
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Corporate Identity
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PT Bank Syariah Mandiri Annual Report 2010
Name: PT Bank Syariah Mandiri. Address: Wisma Mandiri I Jl. MH. Thamrin No. 5 Jakarta 10340 – Indonesia. Telephone: (62-21) 2300 509, 3983 9000 (hunting). Facsimile: (62-21) 3983 2989. Homepage www.syariahmandiri.co.id Email
[email protected] Founding Date: 25 October 1999 Established Since: 1 November 1999 Authorized Capital: Rp1,000,000,000,000.00 Paid-in Capital: Rp658,243,565,000.00 Service Networks 507 offices in nationwide ATM Networks Total ATM Units: 47,000 units consisting of : • ATM Shariah Mandiri, • ATM Mandiri, • ATM Bersama, • ATM Prima, and • Malaysia Electronic Payment System (MEPS) Total employee 7,902 employees. Rating AA-(idn) based on Fitch Rating 2009.
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Brief History
Multi-dimensional crisis that engulf Indonesia in 1997-1998, brings its own wisdom for the Sharia banking system milestone in Indonesia. While the conventional banks exposed the economic crisis impact, that’s when evolving idea about a concept that can save the economy from the threat of crisis prolonged. On the other hand, to save the economy globally, government took the initiative to merge 4 (four) the government banks, namely Bank Dagang Negara, Bank Bumi Daya, Bank Exim and Bapindo, into one bank by the name of PT Bank Mandiri (Persero) Tbk. at 31 July 1999. The policy also stipulates PT Bank Mandiri (Persero) Tbk as the majority owner of PT Bank Vice Squad Bakti (BSB). PT BSB is one of the conventional banks that owned by the Employee Welfare Foundation (YKP) of PT Bank Dagang State and PT Mahkota Prestasi. To exit from the economic crisis, PT BSB is also making efforts merged with several other banks as well asinviting foreign investors. As a follow-up of the idea of development of sharia economic systems, the government imposed a Law No.10 of 1998 which provide opportunities for commercial banks to serve the Islamic transactions (dual banking system). In response, PT Bank Mandiri (Persero) conducts consolidation and forms the Sharia Banking Development Team, which aims to develop banking services.
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PT Bank Syariah Mandiri Annual Report 2010
The Sharia Banking Development Team considers that Law enforcement is the right momentum to the conversion of PT Bank Susila Bakti from conventional banks into Islamic banks. Therefore, The Sharia Banking Development Team immediately prepares the system and its infrastructure, so BSB business activities transformed from a conventional bank to bank which operate in accordance with Islamic principles in the name of PT Bank Syariah Mandiri, as stated in Deed: Sutjipto, SH, Number: 23, dated 8 September 1999.
Milestone of PT Bank Syariah Mandiri l
1955, Establishment of PT Bank Industri Nasional (PT BINA)
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1967, PT BINA changed to PT Bank Maritim Indonesia
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1973, PT Bank Maritim Indonesia changed to PT Bank Susila Bakti
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1999, PT Bank Susila Bakti converted into PT Bank Syariah Mandiri
Changes of BSB business activities into Islamic Banking confirmed by the Governor of Bank Indonesia through the Decree of the Governor of BI Number: 1 / 24 / KEP.BI/1999, October 25, 1999. Furthermore, through the Decree of the Senior Deputy Governor of Bank Indonesia Number: 1/1/KEP.DGS /1999, BI agreed the change of name to PT Bank Syariah Mandiri (BSM). Following the inauguration and the legal recognition, PT Bank Syariah Mandiri officially began operations on Monday the 25th Rajab 1420 H or November 1, 1999. PT Bank Syariah Mandiri presents and performs with the harmonization of business ideals with the spiritual values and grow as a bank that are able to combine business ideals and spiritual values, which underlying its business activities. Harmonization of business idealism and spiritual values became one of the benefits of Bank Syariah Mandiri in banking business in Indonesia.
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Business Line
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PT Bank Syariah Mandiri Annual Report 2010
BSM Tabungan A saving account in the rupiah currency using the Mudharabah Mutlaqah scheme with pre-defined schedule of withdrawal. BSM Tabungan Berencana A time-based saving that offers customers profit sharing progressive ratio and certainty of drawing back the whole fund at the specified time for the account holders or beneficiaries with free insurance protection. BSM Tabungan Simpatik A saving account in the rupiah currency using the wadiah principlebased scheme that allows customers for withdrawal at any time under predefined conditions. BSM Tabungan Mabrur It is a saving aimed at helping the public to plan for the hajj & umrah pilgrimage. BSM Tabungan Dollar A saving in dollar currency that allows customers for cash deposit and withdrawal at any time or at BSM specified time using a withdrawal slip BSM Tabungan Investa Cendekia (TIC) A time-based saving account designed for those who want to make financial plans, especially for children future education financing. BSM Deposito A time investment product that allows customer for fund withdrawal on mutually approved schedule.
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BSM Deposito BSM A time deposit account that allows for customers to withdraw fund in foreign currency on mutually approved schedule. BSM Giro A current account that allows customers for fund withdrawal at any time using checks, bilyet giro, or aanother payment order in compliance to the wadiah yad adhdhamanah principle BSM Giro Valas A current account in USD currency that allows customer for fund withdrawal at any time in line with the wadiah yad ad-dhamanah principle. BSM Giro Singapore Dollar A current account in SGD currency that allows customer for fund withdrawal at any time in line with the wadiah yad ad-dhamanah principle . BSM Giro Euro A current account in the Euro currency that allows customer for fund withdrawal at any time in line with the wadiah yad addhamanah principle. BSM Bond A long-term marketable security based on the Sharia principles that requires the issuer (Bank Syariah Mandiri) to pay the profitsharing income/coupon and repay the Sharia Bond fund upon maturity date. BSM Tabungan Perusahaan A saving dedicated solely to receive excess fund from the current account of a legal entity Institution/Company by using autosave facility.
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Financing Products l
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BSM Mudharabah Financing Financing that allows the bank to cover the whole working capital need of the customer. Customer income is pursuant to the mutually approved ratio. BSM Musyarakah Financing Working capital financing in which the bank fund is part of the customer’s business capital, and the profit is to be shared pursuant to the pre-defined ratio. BSM Murabahah Financing Financing based on sales – purchase agreement between the bank and the customer. The bank buys the goods in need and sells it to the customer at the procurement price plus the agreed margin. Useful for business purposes (investment, working capital) and consumer financing.
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BSM Haj Bridging Financing A bridging financing from the bank to the customer designed only to cover the needed additional fund to get a haj pilgrimage seat and haj pilgrimage cost (BPIH) full payment.
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BSM Istishna Financing A short, medium and long term financing for goods procurement (istishna objects), where the installments period exceeds the goods-in-process financing, and the bank can claim its income share during the installment period, either based on goods procurement percentage or upon completion of the goods procurement. IMBT (Ijarah Muntahiyah Bittamliik) Scheme Financing A financing based on the leasing scheme between the Bank and the Customer for an object during the agreed period of time that is ended with the final ownership by the customer. Mudharabah Muqayyadah off Balance Sheet Financing A channeling of the Mudharabah Muqayyadah fund where the Bank acts as a channeling agent, so as not to bear any risk.
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BSM Customer Network Financing A working capital financing for the customer (agent, dealer, etc) to procure inventory goods from partners (Sole Agent, producer/ distributor, etc) who have been in partnership with the Bank.
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BSM Warehouse Receipt Financing A commercial transaction financing for a generally traded commodity/product with the main collateral in form of the financed commodity/product and is stored in a warehouse or an independently controlled location.
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PT Bank Syariah Mandiri Annual Report 2010
PKPA Employee Cooperative Financing It is a financing for employee cooperatives to help the member employees’ consumer needs who collectively propose for financing to their cooperative. BSM Education Financing It is a short and medium term financing to meet entrance fee to a school/university/education institution or education fee upon registration for the next year/semester under ijarah financing scheme. BSM Implan A consumer financing in the rupiah currency provided by the bank to permanent employees of a company/ employee cooperative who have proposed for a collective financing through their company. Revolving Fund Financing It is a working capital financing based on the musyarakah principle that allows for fund disbursement at any time pursuant to the customer’s real need. BSM Home Ownership Financing A short, medium and long term financing under murabahah system for procurement of a residential house (consumer), either a new or old house located within a developer or non-developer area. BSM Optima Home Ownership Financing A house financing with extra benefits of additional financing to be disbursed at a specified period of time as far as the amount does not exceed its total financing and it is influenced by the customer’s debt to service ratio level.
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Sharia-Subsidized House Financing (PPR) A financing for procurement of a house categorized as simple, small and healthy (RS Sehat/RSH) built by a developer with the government subsidy for the down payment, targeted to people with regular income (civil servants/employees). Umrah Pilgrimage Financing It is a short term financing to facilitate the cost of umroh pilgrimage needs such as ticket, accommodation and pilgrimage preparation under the ijarah scheme. Griya BSM DP 0% House Financing It is a house financing without down payment requirement, of which the financing value 100% equals to the house taxation price. BSM Off Line Payment System Offline system financing services for an institution with a lot of regular customers, by which the customers can do payment transactions at any of BSM service counters. Financing with restricted Collateral Investment Shariah Mandiri Collateral-tied Investment Financing is a financing with cash collateral where the fund owner (investor) defines the limits for the Bank concerning the place, mechanism and object of investment. Pensioner Financing A consumer financing facility (including multi-purpose financing) to pensioners, with installments by direct debit from their monthly pension received by the Bank. Medical Equipment Financing It is a financing facility for professionals in the medical/health services who meet the Bank qualifications to procure new capital goods or operational support equipment.
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Services l
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BSM Card A facility for ATM cash withdrawal, payment and fund transfer through ATM BSM, ATMBersama units, and ATMBank Card. In addition to its debit card function, BSM Card can also be used as a transaction tool at the merchants using EDC BCA and EDC Mandiri displaying a label that reads ”Gunakan BSMCard Anda disini”. BSM Sentra Bayar A service by the bank in receiving customer bill payment to third parties (PLN,Telkom, Indosat, Telkomsel). BSM Payment Center welcomes payment through cash depositor account debit through the tellers, ATM, SMS Banking, or monthly autodebit services. BSM Mobile Banking A banking service based on cellular phone SMS that provides customers with ease in doing transactions anywhere and at any time just as easy as sending an SMS. BSM Net Banking This service allows customers to do financial transactions (defined by the bank) through internet-connected computers. BSM Mobile Banking GPRS GPRS cellular technology based service that allows customers to do a variety of transactions anywhere at any time. PPBA (Payment via ATM Fund Transfer) Institutional payment services (education institution, insurance, special institution, non-bank financial institution) through fund transfer at the ATM. BSM Pooling Fund (Cash Management) A facility provided by the bank to let customers manage their fund easily in an automatic manner. BSM Pertukaran Valas This service caters for exchange of the rupiah to foreign currencies, or a foreign currency with another foreign currency between Bank Syariah Mandiri and customers. Bank Guarantee A written agreement provided by the bank to a third party in which the bank declares its commitment to fulfilling liabilities to the third party in case within a specified period of time the guaranteed (customer) fails to keep the commitment. BSM Electronic Payroll It is a salary payment service for employees of an institution through the latest technology of BSM banking in an easy, secure and flexible way.
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PT Bank Syariah Mandiri Annual Report 2010
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BSM SKBDN A written agreement based on an application from the customer (applicant) that legally binds Bank Syariah Mandiri as an opening bank to pay the beneficiary or to receive and pay bank draft upon maturity date to be withdrawn by the beneficiary, or to authorize another bank to make payment to the beneficiary, or to negotiate the bank drafts withdrawn by the beneficiary upon document submission (currently only among BSM branches). BSM Letter of Credit It is a written agreement based on a written application from the customer that legally binds BSM as an opening bank to make payment to the beneficiary or on order, or to receive and pay bank draft upon maturity withdrawn by a beneficiary, or to authorize another bank to make payment to the beneficiary or to negotiate the bank drafts withdrawn by the beneficiary upon submission document submission. BSM Transfer Western Union Money remittance service, conducted real time on line across countries or within one country (domestic). BSM Clearance It is draft bill from another bank located at the same clearing region. BSM Inkaso Settlement services for a draft bill from another bank located at a different clearing region or overseas, the billed fund will be credited to the customer account. BSM Intercity Clearing It is a fast service for draft billing (check/bilyet giro rupiah) from a bank outside the clearing region of which the billed fund from the check or bilyet giro will be received the next day. BSM RTGS (Real Time Gross Settlement) It is a fund real-time transfer in rupiah among banks within the same or different cities. Intra-city Transfer (LLG) It is an interbank fund transfer within the same local clearing region. Transfer D.U.I.T. (Dana Untuk Indonesia Tercinta) Money remittance from overseas to Indonesia through BSM in cooperation with Merchantrade Asia (MTA) Malaysia BSM Pajak Online A service for taxpayers to pay their tax (excluding import tax payment) in an automatic way either by account debit or in cash. BSM Pajak Impor A service for importers to make online payment of tax on imported goods as required for release of goods from the customs warehouse.
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BSM Referensi Bank A letter of statement issued by BSM based on the customer application for a specified purpose. BSM Standing Order A facility from Bank Syariah Mandiri to the customer to make repeat fund transfer from one account to another. In practice, the customer needs to make the instruction only once. BSM Autosave It is an automatic fund transfer between a current account and a saving account for maintaining a specified amount of balance. BSM Transfer Valas Foreign currency transfer consists of: 1. Outgoing transfer of foreign currency fund from BSM customer account to a customer of another bank at home country or overseas. 2. Incoming transfer of foreign currency fund from another bank customer at home or overseas to the BSM customer account.
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company Profile
Awards
No
PT Bank Syariah Mandiri Annual Report 2010
Award Name
1
Human Resource Excellence Award 2010
2
Corporate Community Award 2010
3
Banking Efficiency Award 2010
4
Annual Report Award (ARA) 2009
5
Investor Award
6
The Best Islamic Fully Pledged Bank 2010
7
Indonesia Best Brand Award 2010
8
2010 Infobank
9
ABFI Institute Award
10
Word of Mouth Marketing Award
11
Net Promoter Leader
12
Indonesia Deal of The Year
13
Souvereign Deal of The Year \2009
14
Deals of The Year 2009
15
Indonesia Bank Loyalty Award 2010
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Pictures
AA(idn)
Rating BSM AA (idn)
Appreciators
Achievements
Date of Conferment
Management Institute of Economics Faculty of University of Indonesia
Appreciation for the human resource management strategy
21 Desember 2010
SWA Magazine
The Most Inspiring Club
16 November 2010
Bisnis Indonesia Daily
The award for the performance of banks considered which able to manage its operations efficiently.
6 October 2010
Bank Indonesia, Bapepam-LK, IDX, Ministry of SOEs, the National Committee of Governance Policy (KNKG), Institute of Indonesian Accountants, and General Directorat of Tax
Winner of ARA 2009 for the category of Private, Finance and Non Listed
22 September 2010
Investor Magazine The
Best of Shariah Banking 2010
31 August 2010
Karim Business Consulting
Shariah banks with the best performance in terms of financial performance, human resources, network expansion. BSM won overall of the best fully Islamic pledged bank with the best in the category: 1. The Most Efficient 2. The Most Expansive Funding 3. The Most Expansive Financing 4. The Most Profitable 5. The Most Efficient Expansive Funding
6 August 2010
SWA Magazine
Banks with the best brand value for the Islamic banking category. BSM won the award for the fourth time.
29 July
Award Infobank
Magazine Bank with excellent Performance for 10 years consecutively. Assessment of rating for 121 bank stipulates the BSM that has Excellent performance for 10 years consecutively.
16 Juli 2010
ABFI Banking Institute and Group of Tempo Magazine
Best Sharia Bank Award by the measurement of financial performance using CAMEL method
7 July 2010
SWA Magazine/Onbee Marketing
Award for Marketing of customer to customer
9 June 2010
Octovate/SWA Magazine
Award of loyalty index
10 May 2010
Redmoney Group, Islamic Finance News Asia, Malaysia
Islamic Bank, Bank Shariah Agen Penjual Sukuk Ritel Indonesia
3 March 2010
Redmoney Group, Islamic Finance News Asia,
Malaysia Islamic Bank, Islamic Bank as Sales Agent of Indonesia Retail Sukuk
3 March 2010
Redmoney Group, Islamic Finance News Asia,
Malaysia Islamic Bank, Islamic Bank as Sales Agent of Indonesia Retail Sukuk
3 March 2010
Infobank Magazine and Markplus Insight
Category: Saving Account, Sharia Banking.
10 February 2010
Fitch Rating
Capital support from Bank Mandiri, cash provisions, and company performance
27 January 2010
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Organization Structure General Meeting Shareholders
Board of Sharia Supervisory
1. Achmad Marzuki, President Commissioner
President Director Yuslam Fauzi
2. M. Syafi Antonio, Member 3. M. Hidayat, Member
Board of Commissioners
Board of Commissioners:
Board of Sharia Supervisory: 1. KH. Ali Yafie, Chairman
Board of Director
2. Abdillah, Independent Commissioner 3. Ramzi A. Zuhdi, Independent Commissioner 4. Tardi, Commissioner 5. Lilis Kurniasih, Commissioner
Small Micro Financing Directorate Hanawijaya
Medium Financing Directorate Sugiharto
Corporate Financing Directorate Amran Nasution
Compliance Directorate Zainal Fanani
Small, Micro & Program Financing Andri Vendredi
Commercial Financing Subki Matsyah
Corporate Financing & Investment Hadi Purnomo
Compliance Priyo Prakoso
Consumer Financing Rustanti Rachmi
Restructuring Sulistyo Budi
Branch Corporate Financing Agus Salim
Network Edwin Iswan Siregar
System & Technology Roosita Abdullah
Pawnshop (Desk) Putu Rahwidhiyasa
Financing Settlement Purwoto
Special Financing & Syndication (Desk) Siti Nurdiana
Human Captal Eka Bramantya Danuwirana
Operation Ateng Suhaeni
Mass Banking (Desk) Eny Maya Gustini
Corporate Relation & Legal Affairs Achmad Fauzi
Tresury Tutuy Guntara
Training (Desk) Helmi Huseno
Accounting Musdar Ayub
Business and Product Development Dewa Bagus Ivan Baruna
Facility & LogisticsTaufik Machrus
Planning, Development and
System, Procedure & Supervision Muslihan
Risk Management Directorate Achmad Syamsudin
Risk Management Fanny Fansyuri
Internal Audit Priyono
Audit Committee
Remuneration &
Performance Management
Firman Jatnika
Business & Remittance Setyobudi Tariadi
Regional Offices I-IV
Branch
Reference: Decree of Board of Director No. 12/300-KEP/DIR dated 22 July 2010
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PT Bank Syariah Mandiri Annual Report 2010
Nomination Committee Risk Monitoring Committee
Corporate Events
During the year 2010, the BSM conducts a variety of corporate events, including the activities of branch opening, distribution of KUR, corporate promos, as well as CSR activities.
Jan.
Feb.
Opening of KCP Wonosari, Yogyakarta
Mar.
Distribution of People Microcredit (KUR), Cirebon
Apr.
Launching of Islamic Book Fair, Jakarta
Free Treatment of Flood Victims, Bekasi
May.
Jun.
Relocation of BSM Branch Office, Mataram
CSR Activities Univ Andalas, Padang
Augt.
Jul.
Inauguration of 6 (six) KCP Surakarta, Jawa Tengah
Inauguration of BSM Branch Office, Palangkaraya
Sep.
Oct.
Inauguration of KC Pondok Kelapa, Jakarta
Watching with Orphans, Jakarta
Nov.
Celebration of 11th Anniversary of BSM, Jakarta
Dec. BSM SME & Education Awards, Jakarta
PT Bank Syariah Mandiri Annual Report 2010
35
company Profile
Vision and Missions Description
Vision and Missions Vision To be the most trusted and preferred Sharia bank for business partners .
Missions 1. To generate sustainable growth and profit. 2. To put priority on consumer funding and micro, small and medium financing. 3. To hire and develop professional employees in a healthy work environment. 4. To develop sharia universal values. 5. To run banking operations according to sound banking practices.
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PT Bank Syariah Mandiri Annual Report 2010
a. The Most Trusted Sharia bank To be the most trusted Sharia Bank, we conduct continue to maintain competence and integrity 1) Competence We implemented with the increasing of skill in according to demands of the assignment and professional bankers. This is in accordance with the normative base as follows: n “And purseu not that of which thou hast no knowledge. For every act of hearing, or of seeing, or of (feeling in) hearts will be inquired into (on the Day onf Reckoning) “(Al-Isra (17): 36)
2) Sharia Aspect To be preferred bank for business partners from sharia aspect, we implemented with conducting The function of Board of Sharia Supervisory according to applicable regulations. This is in accordance with the normative base as follows: n “ And who better religion than someone who willingly submit themselves to God, while he is doing good, and he followed the religion of Abraham, the upright? And Allah took Ibrahim into His love. “ (An Nisaa (4): 125)
2) Integrity We implemented with Complying of professional ethics, thinking and behaving with high morale. This is in accordance with the normative base as follows: n “Allah loveth not those who make mischief ” (Al Maidah (5): 64) b. Preferred for Business Partners To be preferred bank for business partners, we always maintain our business activities both business aspect and sharia aspect. 1) Business Aspect To be preferred bank for business partners from business aspect, we implemented with the providing include: excellent product, competitive pricing, business process the prudent and efficient, and adequate infrastructure. his is in accordance with the normative base as follows: n “Make it easy (all affairs), do not complicated and invite well, do not lead others away” (H.R. al-Bukhari dan Muslim)
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Corporate Values
Corporate Values Excellence: Striving for excellence through integrated and continuous improvements. Teamwork: Developing a work environment with mutual synergy. Humanity: Upholding humanity and religious values. Integrity: Complying with professional ethics, thinking and behaving with high morale. Customer Focus: Understanding and serving the customer needs to make Bank Syariah Mandiri a reliable and protable partner.
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PT Bank Syariah Mandiri Annual Report 2010
Target and Strategy
Determination of targets and strategies are aligned with the BSM business is conducted, thus forming a continuous synergy. BSM targets and strategies are reflected in the 5 (five) main programs.
The five main programs of BSM in 2010: 1. Consumer funding; 2. Asset quality maintenance of Classified Earning Assets (APYD) and NPF; 3. Micro, Small and Medium financing development; 4. Efficiency improvement; 5. Infrastructure enhancement (Competency Based Human Resources Management, Values, Core Banking, Risk Management, Corporate Governance and Organization).
The five main programs of BSM 2011: 1. Increasing Asset Market Share Asset, Third Party Fund and Financing; 2. Improving Consumer Funding and High Yield Financing for Micro Segment (incl. pawnshop), Small and Consumer Segments; 3. Maintaining asset quality (APYD & NPF); 4. Increasing Fee Based Income; 5. Enhancing Infrastructure (networks, core banking system, shared values (ETHIC), risk management, compliance, guidance).
PT Bank Syariah Mandiri Annual Report 2010
39
company Profile
Board of Commissioners Profile
40
PT Bank Syariah Mandiri Annual Report 2010
1
2
4
3
5
1
Achmad Marzuki President Commissioner | Independent Commissioner
2
Abdillah Independent Commissioner
3
Ramzi A. Zuhdi Independent Commissioner
4
Tardi Commissioner
5
Lilis Kurniasih Commissioner
PT Bank Syariah Mandiri Annual Report 2010
41
company Profile
Achmad Marzuki
Abdillah
President Commissioner | Independent Commissioner
Independent Commissioner
I
I
Training attended:
Training attended:
ndonesian citizen. Born in Palembang, 25 July 1939. A 1980 graduated from University of Indonesia.
n
Business Workshop
n Supervised Achievement
Motivation Training & Consultant n Insurance and Development Banking n Course on Development and Promotion n Small Enterprises by EDI/IBRD n Systematic Managerial Analysis Application n Seminar on Economic Crime in Banking n Top Management Program of Asian Institute n The Executive Risk
ndonesian citizen. Born in Brebes, 21 Fe-bruary 1947. A 1977 graduated from University of Indonesia.
n
Financial Accounting Course n
Audit Inspection
and Control Course n Management Accounting Seminar n Asset Liability Management Course n
Top
Management Program n SESPI BI n Qualified Internal Auditor Certificate (QIA)
Career Track Independent Commissioner of PT Bank Syariah
Management Refresher Programme n Risk
n
Management in Retail Banking
Mandiri n Audit Committee Member of PT Bank Shariah Mandiri n Oversight Chief of PT Bumi Daya
Career Track n
President Commissioner and Independent
Commissioner of PT Bank Syariah Mandiri. n Senior Advisor to Board of Commissioners PT Bank Syariah Mandiri n President Commissioner of PT Bumi Daya Plaza n President Commissioner of PT Estetika Jasatama (Consultants & Broker Insurance) n President Director of PT Bank Pembangunan Indonesia (Persero), n Director of PT Bank Bumi Daya (Persero) n Director of
PT Bank Pembangunan Indonesia (Persero)
42
PT Bank Syariah Mandiri Annual Report 2010
Welfare Foundation n Commissioner of PT Estika Sedaya Finance n Oversight Committee Chief THT Foundation n PT Bank Bumi Daya (Persero) n Internal Control Department Head PT Bank Bumi Daya (Persero) n Accounting Department PT Bank Bumi Daya (Persero)
Ramzi A. Zuhdi
Lilis Kurniasih
Tardi
Independent Commissioner
Commissioner
Commissioner
I
I
University in 1989.
Training attended:
Training attended:
n
ndonesian citizen. Born in Jambi, 5 Mei 1952. A graduate of Economics Faculty, Gajah Mada
University in 1972 and Master’s degree of Iowa State
n
Islamic Banking n Executive Program n Risk
Management Certification n Leadership Program n Refreshment Risk Management
Career Track: n
Director of DPbS Bank Indonesia n Finance
Director of PT Mekar Prana Indah
ndonesian citizen. Born in Bandung, 13 January 1958. A 1981 graduated from Bogor’s Institute of Agriculture.
ndonesian citizen. Born in Sukoharjo, 12 May 1964. A graduate of Sebelas Maret State University and Post
Graduate of Padjajaran University.
Credit Analysis n Asset and Liabilities n
Investment Management n Advance Financial Analysis n
I
Quality Service Delivery n Risk Management
Certification -1 n Credit Assessment n Integrated Economic & Risk Analysis on Downstream Oil & Gas industry n Financial Report Analysis III n Negotiation Skill n SOS Implementation of Basel II & ERM. n Operation Risk Management n Credit Assessment n Leaders Forum n
Shipping Cost
n
Workshop on Insurance &
Workshop on Advertisy Quotient
n Commercial Banking Assessment n
Workshop on
Coaching for Leadership n Leadership and Decision
Training attended: n
Credit Analysis n Venture Capital Seminar
n
Loan Syndication Workshop n Managerial Skill
Education n Training Debt. Restructuring and Loan SYN
n
Credit Training for Lending n General
Insurance Training on Collateral n Marketing Analysis, Strategy & MPD
n
Risk Management
Certification -1 n Workshop on Credit Settlement Optimizing n Risk Management Certification -2 Risk Management in Banking
n
Leaders Forum
n
n
MRB Forum Leaders
Making
Career Track:
Career Track:
(Persero) Tbk. n Dept. Head Loan Collection I PT Bank
n
n
Member – Board of Commissioners of PT Bank
Shariah Mandiri n Commercial Banking Center Manager PT Bank Mandiri (Persero) Tbk. n Operations Manager PT Bank Mandiri (Persero) Tbk. n Corporate Financing Division Head PT Bank Syariah Mandiri n Deputy Head of PT Bank Exim - Kebayoran Branch n Medium Credit Department Head – Bandung Lapangan Raya PT Bank Exim n Chief Officer of Plantation Sub-Bureau - PT
Group Head Credit Recovery II PT Bank Mandiri
Mandiri (Persero) Tbk. n
Dept. Head Loan Disbursement PT Bank Mandiri
(Persero) Tbk. n Dep. Head Consumer Loan Disbursement PT Bank Mandiri (Persero) Tbk. n Credit Operation & Control Loan Operations Development PT Bank Mandiri (Persero) Tbk. n
Group Head pada Credit Operation & Control Credit
Administration PT Bank Mandiri (Persero) Tbk.
Bank Exim
PT Bank Syariah Mandiri Annual Report 2010
43
company Profile
Board of Sharia Supervisory Profile
Prof. KH. Ali Yafie Chairman
I
ndonesian citizen, born in Wani, Donggala, Central Sulawesi, 1 September 1926. A leading Islamic scholar in Indonesia.
Career Track: Chairman of Indonesian Council of Ulemas Rector of IIQ Jakarta n Lecturer for a number of state and private universities n Ushuluddin Faculty Dean – IAIN Ujung Pandang n Eastern Indonesia Religious Court Inspectorate n Judge at Ujung Pandang Religous Court n n
44
PT Bank Syariah Mandiri Annual Report 2010
Dr. M. Syafii Antonio, M. Ec.
Drs. H. M. Hidayat, MBH.,MH.
Member
Member
I
ndonesian citizen , born in Sukabumi, 12 May 1967. A 2004 PhD on Micro Finance from University of Melbourne Australia. A 1992 Master of Economics from International Islamic University (IIU), Malaysia.
I
ndonesian citizen, born in Jakarta, 3 May 1968. A 1991 graduate of Sharia Faculty IAIN Jakarta and a 2003 post graduate of IBLAM Jakarta. Now completing doctoral degree on Islamic Economic and Finance at Trisakti University Jakarta.
Career Track: Sharia Banking Development Expert Committee of Bank Indonesia n Sharia National Board, MUI n Lecturer of Tazkia n
Career Track: Member of National Sharia Board, MUI Lecturer – Master’s Program PSTTI University of Indonesia n Lecturer – Master’s Program IEF Trisaksi University n n
PT Bank Syariah Mandiri Annual Report 2010
45
company Profile
Board of Directors Profile
4 46
PT Bank Syariah Mandiri Annual Report 2010
2
1
1 Yuslam Fauzi President Director
2 Hanawijaya Director
3 Amran Nasution Director
4 Zainal Fanani Director
5 Sugiharto Director
6 Achmad Syamsudin Director
3
6
5 PT Bank Syariah Mandiri Annual Report 2010
47
company Profile
Yuslam Fauzi
Sugiharto
Achmad Syamsudin
President Director
Director
Director
I
I
Training attended:
Training attended:
Active as Guest speaker on economics and Sharia banking for seminars, symposium and workshops since 1999. n Correspondent Banking di American Express Bank, New York n Pricing Methodology n Capital Market Instruments in Asia n Valuation, Pricing & Using Capital Market Instruments n Corporate Finance Course n Chartered Financial Analyst Review n Global Custody & Portfolio Administration n Advanced Project Finance & Financial Modelling n Shari’a Banking & Supervisory Aspect n Risk Management Certification n 3th Annual Asian Islamic Banking & Finance Summit n Middle Eastern Investor Forum for Indonesia n Bank Indonesia Annual International Seminar
Credit Analysis Training n Core Credit Training n Development of Management Skills Training n Selling International Banking Product & Service n Spirit Risk Management n Targeted Selection Training n Guest Speaker on Sharia economy at universities such as UPN Veteran Surabaya, IAIN Sunan Ampel Surabaya, Airlangga University, University of Brawijaya Malang, and PT Permodalan Nasional Madani..
ndonesian citizen. Born in Jakarta, 28 August 1959. A 1986 graduated from Economics Faculty – University of Indonesia. A 1992 MBA (Finance/Investment Banking) - Arizona State University, USA. Now completing Doctoral program at University of Indonesia.
ndonesian citizen. Born in Kediri, 19 November 1960. A 1985 graduated from Jember State University and a 2003 post graduate of Jakarta Muhammadiyah University. Now completing Doctoral program at 17th August University Surabaya.
I
ndonesian citizen. Born in Jakarta, 27 July 1965. A 1989 graduated from Agriculture Faculty, Bogor’s Institute of Agriculture. A 1998 Master of Business Administration from International University Of Japan, Nigata, Japan.
Training attended: n
Career Track: Regional Manager IX Banjarmasin Bank Mandiri n Compliance and Risk Management Director Bank Syariah Mandiri n Medium Credit Department Head - Bank Bumi Daya n
48
PT Bank Syariah Mandiri Annual Report 2010
n
Career Track: Networks Division Head PT Bank Shariah Mandiri n Regional Manager of East Java, Bali and Mataram PT Bank Syariah Mandiri n Regional Manager of Central Java PT Bank Muamalat Indonesia n Coordinator of Corporate Business Restructure Financing Unit PT Bank Muamalat Indonesia n Jakarta - Fatmawati Branch Manager of PT Bank Muamalat Indonesia n Head of Commercial Financing of PT Bank Muamalat Indonesia in Surabaya. n
n Optimizing Company Value Through BCM & ERM n Implementation of Warehouse Receipt and Risk Management in Commodities Financing n Transformational Leadership for Within n Internalisasi Culture (Change Agent) n Forum International ICC n Advanced Leadership Program (International Diploma) n Euromoney Risk Mg. Master Series n Small Medium Enterprise Financing n Credit Portfolio Risk Management n Marketing Analysis, Strategic Marketing & Product Development n Selling Commercial & Corporate Bank Services n Credit Risk Analysis Training n Credit Risk Masterclass n International Trade Finance n Credit & Operational Risk
Career Track: n Regional Risk Management III & V, Bank Mandiri n Dept. Head, Commercial Risk Mgt Group, Bank Mandiri n Dept. Head, Retail Credit Risk Mgt. Group, Bank Mandiri n Group Head CRM Retail, Bank Mandiri n Team Leader, KP. Credit Supervisory Business, BDN
Hanawijaya
Zainal Fanani
Amran Nasution
Director
Director
Director
I
ndonesian citizen. Born in Jakarta, 3 December 1963. A 1999 graduated from Agro-business Department - Agriculture Faculty of Bogor Agriculture Institute, and a Magister of Management from Prasetya Mulya Institute of Management (Jakarta).
Training attended: Officer Development Program Bank Dagang Negara (BDN) n Agro-business Credit Analyst Training, IPB n Advanced Leadership Course LPPI n Effective Cash Flow Management n Corporate Valuation Modeling - Euromoney Training n Executive Workshop on Certified Islamic Financial Analyst (CIFA) n Selling Commercial & Corporate Bank Services Course n Leadership Course INSEAD-Mandiri, USAID University n Internship Program USA n Executive Program Risk Management Certification n BSMR Program, Bank Indonesia. n
Career Track: n Relation Manager Jakarta Fatmawati PT Bank Mandiri (Persero) Tbk. n Departemen Head Front End Collection PT Bank Mandiri (Persero) Tbk. n Group Head Credit Recovery di PT Bank Mandiri (Persero) Tbk. n Medium Scale Business Credit Analyst Bank Dagang Negara.
I
ndonesian citizen. Born in Ngawi, 24 October 1964. A 1989 graduated from Civil Engineering Faculty Department of Transportation Institute of Technology 10 November Surabaya (ITS)
I
ndonesian citizen. Born in Jakarta, 1 December 1965. A 1989 graduated from Management Department – Economics Faculty – Trisakti University Jakarta.
Training attended: Risk Management Certification BSMR Conference on Islamic Economic, Middle East Global Advisors (MEGA) in Bahrain n Emotional Spiritual Quotient Program Eksekutif, ESQ Training n Balanced Scorecard Worldclass Perform, The Jakarta Consulting Group n Good Corporate Governance, Risk Management & Compliance n Basic course in Sharia banking Tazkia Institut - Bank Susila Bakti n Credit Course, Bank Dagang Negara n Branch Head Course Batch 106, IBI n Credit Management Course Batch XII, IBI. n n
Career Track: Planning, Development and Performance Management Division Head PT Bank Shariah Mandiri n Relation Manager Retail I, Marketing & Branch Management Division Head PT Bank Syariah Mandiri n Surabaya Branch Head PT Bank Syariah Mandiri n Kalimalang SubBranch Head, Bank Susila Bakti n Rawamangun Sub-Branch Operation Head, Bank Susila Bakti n Staff of Land Transportation Research & Development Agency – Ministry of Communications RI. n
Training attended: Basic Course in Banking - Bank Susila Bakti n Branch Head Course – Bank Indonesia n Training Customer Oriented Leadership, Dale Carnegie n Workshop Management Sharia Banking, Tazkia Institute n Good Corporate Governance, Risk Management & Compliance Management, Arthur Andersen n Workshop Proactive Risk Management In Banking, Institute of Finance & Banking, Sahid Jaya n Program Certificate In Corporate Leadership TTE T of Advance level VIII, Center Of Corporate Leadership n Islamic Commercial Law In Banking & Finance n Islamic Finance Forum n ESQ Angkatan 39, ESQ Centre n Workshop Risk Management & Compliance, Novotel Coralia n Risk Management Certification BSMR. n
Career Track: Corporate Division Head PT Bank Shariah Mandiri n Financing & Investment Division Head PT Bank Syariah Mandiri n Treasury and Fund Division Head PT Bank Syariah Mandiri n Medium and Retail Financing Division Head PT Bank Syariah Mandiri n Bandung Main Branch Head Bank Susila Bakti n Account Officer Bank Susila Bakti Bandung. n
PT Bank Syariah Mandiri Annual Report 2010
49
company Profile
Shareholders Information
Shareholding Structure 1. PT Bank Mandiri (Persero) Tbk. has 99,999999% of Bank Syariah Mandiri share, or amount of 131.648.712 shares. 2. PT Mandiri Sekuritas. has 0,000001% of Bank Syariah Mandiri share, or amount of 1 (one) share.
Shareholders Profile 1. PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk. was founded on 2 October 1998 as part of the Indonesian Government bank restructuring program through a merger of Bank Bumi Daya, Bank Dagang Negara, Bank Ekspor Impor Indonesia and Bank Pembangunan Indonesia into new company - PT Bank Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk. has been publicly listed in the Indonesian Stock Exchange.
PT Bank Mandiri (Persero) Tbk is operational in banking. The shareholders consist of the Indonesian Government (60%) and Public (40%).
2. PT Mandiri Sekuritas Subsidiary company of PT Bank Mandiri (Persero) Tbk, operational in management and investment advisory services. Founded on 31 July 2000, the company has been established from a merger of PT Bumi Daya Sekuritas, PT Exim Sekuritas, and PT Marin Corp Securindo. BSM guarantees the exercise of rights of minority shareholders in compliance with the prevailing regulations and GCG principles.
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PT Bank Syariah Mandiri Annual Report 2010
Due to Bank Syariah Mandiri has not become a public listed company, both people, directors and board of commissioners of PT Bank Syariah Mandiri have no ownership of Bank Syariah Mandiri shares.
Profile of Subsidiary and Affiliated Companies PT Bank Syariah Mandiri has no subsidiary company, but has a number of affiliated companies consisting of subsidiary companies owned by PT Bank Mandiri (Persero) Tbk. such as: a. Bank Mandiri (Europe) Limited (BMEL); Founded in London on August 2, 1999. BMEL is a company engaged in banking, which was founded with the goal of taking over the business activities of Exim Bank’s London branch. b. PT Usaha Gedung Bank Dagang Negara The company engaged in services of management and rental of the building (property) and has been operating since October 29, 1971.
g. PT Mandiri Tunas Finance Financial institutions that focus on the financing of motor vehicles, established since 1989 and was acquired Bank Mandiri in February 2009.
Chronology of Shares Listing PT Bank Syariah Mandiri is a closed private company that does not sell its shares to the public, so no information is available regarding chronological of shares listing and types of corporate actions that cause changes in the number of shares.
Chronology of Other Securities Listing PT Bank Syariah Mandiri is a closed private company that does not sell its shares to the public, so no information is available regarding chronological of other securities listing and types of corporate actions that cause changes in the number of other securities.
c. PT Bumi Daya Plaza The company engaged in the management and leasing of the building (property) and has been operating since December 22, 1978. d. PT Bank Sinar Harapan Bali (BSHB) The company engaged in banking and has been operating since November 3, 1992. e. PT AXA Mandiri Financial Services Joint venture company between Bank Mandiri and AXA which has been operating since December 2003. f. PT Mandiri Manajemen Investasi (Mandiri Investasi) A subsidiary of PT Mandiri Securities and PT Bank Mandiri (Persero) Tbk. which has been operating since December 2004.
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Proffesional Institution of The Company’s Supporting
Name and Address of Notaries, Legal Consultants and Public Accountant Firm
a. Notaries at the Head Office l Notary: Badarusyamsi, SH, MKn. Address: Komplek Ruko Mutiara Faza Blok RD/4 Jl. Raya Condet No. 27, Jakarta 13760 l Notary: Imas Fatimah, SH. Address: Menara Cyber 2, Lt. 22 Jl. HR. Rasuna Said Blok X. 5, No. 13 Jakarta 12950 l Notary: Harun Kamil, SH. Address: Jl. Hang Lekir I No. 3, Kebayoran Baru, Jakarta 12120 l Notary: Sutjipto, SH. Address: Menara Sudirman Lt. 18 Jl. Jend. Sudirman Kav. 60, Jakarta 12190 b. Legal Consultants l Legal Consultant: Hanafiah Ponggawa & Partners. Address: Wisma 46, Lt.41 Jl. Jend. Sudirman Kav. 1, Jakarta 10220 l Legal Consultant: Dias & Associate Law Office. Address: CityLofts Sudirman Tower, Lt. 7 Unit 729 Jl. KH. Mas Mansur No. 121, Jakarta 10220 l Legal Consultant: Karimsyah Law Firm. Address: Plaza Mutiara, Lt. 7 Lingkar Mega Kuningan Kav. 1 & 2, Jakarta 12950 l Legal Consultant: Tasrif-Arfah-Panggabean Advokat Address: Jl. Palbatu Raya No. 7, Jakarta 12870 c. Public Accountant Firm l Public Accountant Firm: Purwantono, Suherman & Surja. Address: Indonesia Stock Exchange Building Tower 2, Lt. 7 Jl. Jend. Sudirman Kav. 52- 53, Jakarta 12190
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PT Bank Syariah Mandiri Annual Report 2010
d. Company Accountans BSM has appointed Public Accountant (PA) Drs. Hari Purwantono and Public Accounting Firm (KAP) Purwantono, Suherman & Surja in affiliation with international auditor Ernst & Young (E&Y) to conduct auditing for the accounting year of 2010. Appointment of AP and KAP based on decision of the Shareholders General Meeting of PT Bank Syariah Mandiri, in deed No. 15 Notary Harun Kamil, SH, dated June 29, 2010, among others, decided to authorize the Board of Commissioners to establish the reasonableness of fees in accordance with other requirements of Appointment of KAP Purwantono, Suherman & surge as auditor of financial statements for the accounting year 2010 and pay attention to the letters of Directors and audit Committee to the Board of Commissioners, hereby notified that the Board of Commissioners agreed that audit of the annual reports of PT Bank
Syariah Mandiri has been conducted by KAP with audit fee before tax of Rp690,000,000.00 (six hundred ninety million rupiahs). The fee does not include costs directly related to the audit assignment (out-of-pocket expenses). The scope of audit work includes the Audit of Financial Statement, Compliance Audit of Internal Control, Audit of Regulation and Audit of Financial Performance.
Accounting Offices and Public Accounting Firms Period of 2008 - 2010
Financial
Accountant
KAP
Address
Audit Fee
Opinion
Other Services
Statement Period
Drs. Iskandar Pane,
Doli, Bambang,
Menara Kuningan 11th floor,
2008
Ak., MM
Sudarmadji & Dadang
Jl. HR Rasuna Said Blok X-7
Public Accountant
Registered of KAP No.
Kav.5, Jakarta 12940 Indonesia
Licensed No. 99.1.0612
KEP-295/KM.5/2005
Drs. Hari
Purwantono,
Purwantono
Suherman & Surja
Building, Tower 2, 7th floor,
Public Accountant
Registered of KAP No.
Jl. Jend. Sudirman Kav. 52-53
Licensed No. 98.1.0065
KEP-122/KM.5/2006
Jakarta 12190, Indonesia.
Drs. Hari
Purwantono,
Indonesia Stock Exchange
Purwantono
Suherman & Surja
Building, Tower 2, 7th floor,
Public Accountant
Registered of KAP No.
Jl. Jend. Sudirman Kav. 52-53
lation and Audit of Financial
Licensed No. 98.1.0065
381/KM.I/2010
Jakarta 12190, Indonesia.
Performance
2009
2010
Indonesia Stock Exchange
Rp275,000,000*
Rp630,000,000*
Rp690,000,000*
Fairly in all material
1. Audit of PKBL
respects
2. Key Performance Indicator (KPI) evaluation
Fairly in all material
1. Audit of PKBL
respects
2. Key Performance
Fairly in all material respects
Indicator (KPI) evaluation Compliance Audit of Inter- nal Control, Audit of Regu-
* Excluding the costs directly related to the audit assignment (out-of-pocket expenses).
PT Bank Syariah Mandiri Annual Report 2010
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company Profile
Executive Officers Profile Achmad Fauzi Head of Corporate Relations & Legal Affairs Division (DKH). Born on 4 November 1965 in Kuningan West Java . A 1989 graduate of Faculty of Economics – Krishnadwipayana University and Magister in Business Law –Padjadjaran University – Bandung. Joining in BSM since 2005. Agus Salim Head of Branch Corporate Financing Division (DKR). Born on 4 March 1955 in Brebes. A 1979 graduate of Faculty of Economics - General Sudirman University. Joining in BSM since 2000. Andri Vendredi Head of Small, Micro & Program Financing Division (DKM). Born on 12 April 1968 in Bandung. A graduate of Faculty of Economics, Parahyangan University. Joining in BSM since 2005. Ateng Suhaeni Head of Operation Division (DOP). Born on 14 June 1954 in Cirebon. A 1983 graduate of Economics Faculty - Padjadjaran University and a 1998 Magister of Management from IPWI Graduate School of Economics. Joining in BSM since 2003.
Hadi Purnomo Head of Corporate and Investment Division (DKI). Born on 21 August 1966 in Medan. A 1990 graduate of Agriculture Faculty - Sumatera Utara University and a 2009 Magister of Science – University of Indonesia. Joining in BSM since 2003.
Dewa Bagus Ivan Baruna Head of Business and Product Development Division (DPP). Born on 29 September 1965 in Denpasar. A 1990 graduate of Faculty of Engineering – Ekasakti University. Joining in BSM since 1999.
Helmi Huseno Head of Training Desk (DTR).Born on 19 October 1962 in Tiku, Padang.. A 1996 graduate of Economics Faculty – University of Indonesia and post-graduate education at Economics Faculty of Graduate School of Management. Joining in BSM since 2005.
Edwin Iswan Siregar Head of Networks Division (DJN). Born on 23 February 1960 in Jakarta. A 1994 graduate of Economics Faculty – University of Jayabaya Jakarta. Joining in BSM since 1999.
M. Fanny Fansyuri Head of Risk Management Division (DMR). Born on 14 April 1967 in Bandung. A 1991 graduate of Economics Faculty - Padjadjaran University. Joining in BSM since 1999.
Eka Bramantya Danuwirana Head of Human Capital Division (DHC). Born on 11 April 1969 in Tegal. A 1993 graduate of Engineering Faculty - University of Missouri USA, a 1995 Master’s degree from Engineering Faculty - Purdue University USA. Joining in BSM since 2007.
Musdar Ayub Head of Accounting Division (DAK).Born on 23 October 1962 in Jakarta. A 1985 graduate of UPN Veteran Jakarta. Joining in BSM since 1999.
Eny Maya Gustini Head of Mass Banking Desk (DMB). Born on 29 August 1968 in Muara Enim. A 1990 graduate of Economics Faculty - Pancasila University and a 2006 Magister of Management – Trisakti University. Joining in BSM since 2003. Firman Jatnika Head of Planning, Development and Performance Management Division (DPM). Born on 26 February 1970 in Jakarta. A 1995 graduate of Economics Faculty – Padjadjaran University and a 2005 Magister of Economics – University of Indonesia. Joining in BSM since 1999.
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PT Bank Syariah Mandiri Annual Report 2010
Muslihan Head of System, Procedure & Supervision (DSP). Born on 18 October 1959. A 1999 graduate of STIE Graduate School of Economics – Accounting Department Jakarta. Joining in BSM since 2001. Priyono Head of Internal Audit Division (DAI).Born on 17 July 1957 in Surabaya – East Java. A 1984 graduate of Economics Faculty - Airlangga University . Joining in BSM since 1999. Priyo Prakoso Head of Compliance Division (DKN). Born on 20 March 1959 in Surabaya – East Java. A 1988 graduate of Economics Faculty – University of Indonesia and a 1997 Master of Economics - Ohio University. Joining in BSM since 1999.
Purwoto Head of Financing Settlement Division (DPB). Born on 4 October 1955 in Klaten. A 1996 graduate of Economics Faculty – National University of Jakarta. Joining BSM since 1999.
Taufik Machrus Head of Facility & Logistics Division (DSL). Boron on 3 April 1968 in Pasuruan. A 1994 graduate of Economics Faculty of Airlangga University. Joining in BSM since 2001.
Putu Rahwidhiyasa Head of Pawnshop Desk (DPG). Born on 13 September 1964 in Jakarta. A 1986 graduate of Agriculture Faculty – Bogor’s Institute of Agriculture and a 1995 Master of Finance & Strategy - University of Illinois USA. Joining in BSM since 2008.
Tutuy Guntara Head of Treasury and International Banking Division (DTI). Boron on 27 February 1957 in Ciamis. A 1980 graduate of Forestry Faculty – Bogor’s Institute of Agriculture. Joining in BSM since 1999.
Roosita Abdullah Head of System & Technology Division (DST). Born on 7 April 1961 in Jakarta. A 1987 graduate of Math and Science Faculty – University of Indonesia and attending professional education at Indonesian Institute of Bankers in 2000. Joining in BSM since 2002.
Setyobudi Tariadi Special Staff to Board of Directors (SKD) for International Banking. Boron on 21 December 1958 in Tanjung Pandan - Bangka Belitung. A 1984 graduate of Engineering Faculty – Bandung’s Technology Institute and a 1991 Magister of Management - University of Wisconsin USA. Joining in BSM since 2003.
Rustanti Rachmi Head of Consumer Financing Division (DPK). Born on 20 January 1967 in Gombong. A 1990 graduate of Math & Science Faculty – University of Indonesia. Joining in BSM since 1999. Siti Nurdiana Head of Special Financing & Syndication Desk (DKS). Born on 16 December 1966 in Jakarta. A 1991 graduate of Economics Faculty Padjadjaran University. Joining in BSM since 1999. Subki Matsyah Head of Commercial Financing Division (DKC). Born on 1 September 1964 in Aceh. A 1986 graduate of Agriculture Faculty – Bogor’s Institute of Agriculture. Joining in BSM since 2003. Sulistyo Budi Head of Restructuring Division (DRS). Born on 14 January 1963 in Jember. A 1985 graduate of Agriculture Faculty of Bogors Institute of Agriculture and a 2001 master degree holder from the same Institute. Joining in BSM since 2007.
PT Bank Syariah Mandiri Annual Report 2010
55
company Profile
The Best CEO 2010
In 2010, SWA Magazine conducts elections of The Best CEO Award. the Best CEO Award was held in cooperation of SWA magazine and Synovate, Dunamis Intermaster since 2005. The Best CEO in 2010 netted 300 candidates who are deemed worthy to enter the competition. SWA expert panel, Synovate, and Dunamis select 300 candidates and decide there are 111 names CEO who was invited to the competition. In 2009, the leadership qualities of the CEO viewed from CEO capability to conduct four functions: Pioneers, aligning, Empowering, and Modeling. In 2010, the quality of leadership coupled with the trust variables (trust quotient), and execution. Praise be to Allah, President Director of BSM, Fauzi Yuslam chosen as the Best CEO in 2010.
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PT Bank Syariah Mandiri Annual Report 2010
Testimony Sunarso (Shareholders) Commercial & Business Banking Director of PT Bank Mandiri (Persero) Tbk., as Supervisory Director of Bank Syariah Mandiri
Shareholders expressed appreciation for the amount of the performance of Bank Syariah Mandiri, because I see BSM until this period has met the shareholders expectation. (Spoken as a voice of the owner of the Work Meeting of RBB PT Bank Syariah Mandiri Year 2011, dated December 5, 2010). Nukman Luthfie (Customer) Digital-preneur
As a businessman who is always online, my need for financial services that can be accessed via the Internet is very high. I have been using the BSM Net services since recent years. To get the facility of BSM Net, I just have a savings account and apply for BSM Net application through customer service. Now I can take advantage of BSM Net features directly, anytime and anywhere. Simply by accessing via the internet, I can check balances and transfer money instantly (realtime). Financial transactions are quick and easy, it helped expedite my business.
M. Syakir Sula (Business Partner) Marketing Shariah Experts/ General Secretary of Shariah Economic Community (MES)
As a marketing sharia consultant I see two things which are very prominent and strengthen the BSM positioning in society, namely Islamic bank that is more universal and BSM business concerns of the orphans, SMEs, SME and retail business. Very proud, because that’s what led BSM become the largest Islamic bank, both in terms of assets and growth. Two tumbs up!
Haidar Bagir (Scholar) CEO Mizan Publising
Although not the first Islamic bank, if talking about Islamic banks, we must first recall to Bank Syariah Mandiri, see the remarkable progress achieved in the last few years. In my opinion, one of the key is due to the efforts that are very serious from the BSM Management to develop the corporate culture that is conducive for the development of a highly dynamic company and providing opportunity for the employee creativities. In addition, looking at efforts to equip for employees not only with technical skills which related to banking, but also in the form of knowledge that enables employees to work not only follow the needs of the company but also more proactive and more capable in in anticipating the development of business environment faster and faster change.
Hasan Murtiaji (Journalist) Republika Daily
I have interacted for 10 years with the BSM, in most of my career as a journalist. Starting from friend’s desire in Republika to support Islamic economics consistently in the middle of the onslaught of capitalist and liberal economics. Since about eight years ago, Republika always raised islamic economics news every day. Corporate activities and information of the BSM performance did not escape from our attention as a journalist. Moreover, 8-5 years ago, it was not many Shariah economic news that can be extracted because the Islamic finance industry is still at least. BSM as one of the leading Islamic financial industry. It becomes our target to be covered. And with all the limitations of this industry, BSM officials succeeded in developing good relationships with journalists.
PT Bank Syariah Mandiri Annual Report 2010
57
Management Analysis on Company Performance
Management Analysis on Company Performance
In 2010, Bank Syariah Mandiri indicated its existance as a Sharia bank with good performance. BSM earned the net profit increment of Rp127.58 billion compared with the succeeding year. The net profit increased in line with increment of number consistently from year to year.
A. Operational Review by Business Segment In 2010, Sharia banking grew with high business volume either from the collected fund growth or from distributed financing compared with the performance at the same period of 2009. The business volume growth and the increasing Sharia banking performance in this 2010, was stimulated by a few factors such as: a more condusive taxation regulation, the increment of Indonesia credit rating, the Indonesia high growth at global level, establishment of new Sharia banks, and as well as the more intensive education program and banking dissemination by Bank Indonesia, Sharia banking, as well as other related parties. The positive industrial development condition in 2010, the stable national economic growth forecast as well as the relatively stable inflation rate, which more strengthen the Sharia banking prospect. Bank Indonesia keeps governing the momentum of Sharia bank growth by conducting the condusive regulation, accurate control, and policy direction which is oriented to the industrial growth that remains aggressive, prudent and professional. In the midth of the growing economic condition and the tighter Sharia banking competition, Praise be to Allah, BSM is able to bring the good performance and succeeded to maintain its position as the biggest Sharia bank in Indonesia.
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PT Bank Syariah Mandiri Annual Report 2010
During 2010, BSM total assets increased by 47.37% or Rp10.44 trillion from Rp22.04 trillion from 2009 to Rp32.48 trillion in 2010. At the same time, Sharia banking assets increased by Rp31.42 trillion or 47.54% of Rp66.10 trillion in 2009 to Rp97.52 trillion in 2010 BSM Assets and Sharia Banking Growth 97.52
100.00 80.00
Sharia banking industry up to 2010 consisted of 11 Sharia General Bank, 23 Sharia business units and 150 BPRS. The description of BSM products as follows:
66.10
60.00
49.56
40.00
8.27
32.48 17.07
25
23
20
19
22.04 12.86
9.56
27
26
36.54
26.72
20.88 20.00
market share of BSM occured in line with the new comer entrance to Sharia banking industry. Anyhow, BSM was able to increase TPF and financing market share. In 2010, there were 5 newly operated Sharia General Bank comprising 3 new banks and 2 spin off banks.
15
0
2005 2006 2007 2008 2009 2010
8 6
n In Trillion (IDR) l BSM Assets l Sharia Banking Assets
At the year end of 2010, BSM was able to grab 33.31% of Sharia banking asset segment or reduced by 0.03% compared with the asset market share domination in 2009 amounting of 33.34%. The reduction of asset
2
2
3
2
3
2
2
3
3
Market Share Aset BMI, BSM
BII, HSBC BRI, Danamon, Bukopin Mega Shariah BPD DKI, BPD Riau, BPD Kalsel, Niaga, BPD Sumut, BPD Aceh, Permata
66.66%
2009
33.31% 66.69%
3
5
6
11
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
IFI, BNI, Bank Jabar
33.34%
3
Panin Shariah
BPD Kaltim BPD DIY, BPD Sulsel, BPD Sumbar, BPD Jatim, BEI
BRI Shariah, Bank Shariah Bukopin
Victoria Shariah, BCA Shariah & Jabar Banten Shariah, BNI Shariah, Maybank Shariah
BTPN, BPD Jateng
l Islamic Comercial Bank l Islamic Business Unit
2010
l BSM l Sharia Banking
PT Bank Syariah Mandiri Annual Report 2010
59
Management Analysis on Company Performance
BSM Products At the year end of 2010, in order to fulfil the customer expectation, BSM offered innovative products that keep growing. BSM has some product groups: 1. Fund Products covering Saving, Deposit and Current Account. 2. Financing covering consumer financing 3. Service Products covering product service, operational service dan investment service. 4. Services covering Sharia Mandiri Priority The description of BSM products as follows:
I. Third Party Fund (TPF) Funding Achievement, consumer fund portion and Low Cost Fund Third Party Fund composition
60.00
Rp9.66
Rp5.52
Deposit
Rp9.59 49.59%
Saving
Rp7.16 37.02%
Current Account
Rp2.59 13.39%
76,04
70.00
Rp29.00
Rp19.34
TPF 80.00
Rp15.11 52.10%
52,27
50.00 40.00
Rp2.71
Rp1.43
December 2009
36,85 28,01
30.00
Rp9.87 34.03%
10.00
Rp4.02 13.87%
29,00
20,67 15,59
20.00
14.90
11.11
8.22
7.04
19.34
0 2005
December 2010
2006
2007
2008
2009
2010
n In Trillion (IDR) l BSM l Sharia Banking
n In Trillion (IDR)
Consumer fund Composition
TPF Market Share
Rp29.00 Rp19.34 Consumer
Rp11.91 61.58%
Rp9.66 Rp4,63
Rp16.54 57.03%
37.00% 63.00%
Institution
Rp7.43 38.42%
December 2009
Rp5.03
38.14% 61.86%
Rp12.46 42.96%
December 2010
n In Trillion (IDR)
2009
2010
l BSM l Sharia Banking
Portion Total third party fund collection up to December 2010 reached Rp29.00 trillion year, growing amounting of Rp9.66 trillion or 49.5% to total 2009 TPF amounting of Rp19.34 trillion. The composition of third party fund in 2010 covering Saving of 34.03%, Deposit of 52.10% and Current Account of 13.87 of total third party fund. The growth of the third party fund and BSM financing exceeded the growth of Sharia banking market. Therefore, third party market segment and BSM financing to Sharia banking increased.
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PT Bank Syariah Mandiri Annual Report 2010
Sharia banking third party fund grew 45.48% from Rp52.27 trillion in 2009 to Rp76.04 trillion in 2010. The growth of BSM third party fund exceeded the growth of the overall Sharia banking third party that stimulated the increase of BSM third party fund market segment to Sharia banking from 37.00% in 2009 to 38.14% in 2010.
Third Party Fund n in Billion (IDR)
Uraian
2005
2006
2007
2008
2009
2010
Growt 2009-2010 (%)
a. Current Account
1,261
2,054
1,846
1,812
2,591
4,015
54.96
b. Saving
1,958
2,668
3,872
5,284
7,163
9,873
37.83
c. Deposit
3,818
3,498
5,388
7,802
9,584
15,110
57.66
Total
7,037
8,220
11,106
14,898
19,338
28,998
49.95
Third Party Fund n in Trillion (IDR)
a. Saving
35.00 29.00
30.00 25.00 19.34
20.00 14.90
15.00 10.00
7.04
8.22
11.11
At the year end of 2010 the achievement of people fund collection in the form of saving was Rp9.87 trillion increased amounting of 37.83% or Rp2.71 trillion in 2009. Saving in BSM includes BSM Saving, Berencana BSM Saving, Simpatik BSM Saving, Mabrur BSM Saving, BSM Dollar Saving, Qurban BSM Saving, and BSM Investa Cendikia Saving. The greatest growth resulted from BSM saving of Rp2.05 trillion. Saving NoA number up to the end of 2010 reached 2.108.940 accounts.
5.00 0 2005
2006
2007
2008
2009
2010
l DPK
Details of saving in BSM among others are as follows: 1) BSM Saving BSM Saving up to December 2010 reached Rp7.97 trillion, BSM program of Gelegar Hadiah, Gathering, Sahabat Program and as well as other programs are factors that resulted in the increase of BSM Saving. Total NoA of BSM Saving up to the end of December 2010 amounted of 1.430.028 accounts 2) BSM Mabrur Saving During 2010, Mabrur Saving performance reached Rp1.17 trillion. NoA number of Mabrur Saving amounting of 396.220 accounts.
PT Bank Syariah Mandiri Annual Report 2010
61
Management Analysis on Company Performance
3) BSM Berencana Saving During 2010, the performance of Berencana Saving reached Rp96 billion with the number of NoA of Berencana Saving reached 42.511 accounts. 4) BSM Cendikia Investment Saving BSM Cendikia Investment SavingInvestasi Cendikia Savings Savings showed good growth during 2010, among others, due to the program “BSM Cheers” is a program of product bundling between Investasi Cendikia Savings with BSM savings. Investasi Cendikia Savings Performance in 2010 acheived Rp160 billion. Total NoA of Investasi Cendikia Savings reached 32,901 accounts. 5) Simpatik BSM Saving The performance of Simpatik BSM Saving in 2010 reached Rp163 billion, increased compared with 2009. The cooperation with educational institution took a role in the increment of Simpatik Saving. Total Simpatik Saving NoA up to the end of December 2010 reached 139.925 accounts.
2) BSM Foreign Currency Deposit During 2010, the performance of BSM Foreign Currency Deposit reached Rp410 billion. The number of BSM Foreign Currency Deposit up to the end of December 2010 amounted of 3.095 accounts.
c. Current Account At the yearend of 2010, the people fund collection achievement in the form of current account amounted of Rp4.02 trillion, growing of Rp1.43 or 54.96% out of Rp2.59 trillion in 2009. BSM Current Account consists of BSM Current Account, BSM Euro Current Account, BSM Foreign Exchange current account and BSM Singapore Dollar current account. The growth of BSM current account is reflected in the growing BSM customer business activities.
Current Account Periode 2005-2010 n In Trillion (IDR)
b. Deposit 5.00
At the year end of 2010, people fund collection achievement in the form of current accout amounted of Rp15.11 trillion, growing of 57.66% or Rp5.53 trillion from amounting of Rp9.58 trilliion in 2009. BSM Deposit has two kinds of currencies that are Rupiah and dollar. The growth of BSM Deposit is supported by the growing customer trust level and the increment of intitution budget at the end of the year. The number of Deposit NoA up to the end of December 2010 reached 68.565 accounts. The description of BSM Deposit product is as follows: 1) BSM Rupiah Deposit During 2010, the performance of BSM Deposit reached Rp14.70 trillion. The number of BSM Deposit NoA up to December 2010 amounted of 65.470 accounts. Current Account Periode 2005-2019 n Dalam Trillion (Rp) 15.11
16.00 14.00 12.00 9.58
10.00
7.80
4.02 4.00 2.59
3.00 2.05 2.00
1.85
1.81
1.26 1.00
0 2005
2006
2007
2008
2009
2010
l Current Account
During 2010, BSM Current Account grew amounting of Rp1.43 trillion. The growth of the current account is dominated by retail current account growth amounting of Rp273 billion, while the corporate current account grew by Rp1.15 trillion. The growth was also caused by some customers whose financing facilities had been solved by the bank but the customers have not taken all of the current account yet (100%). The number of Current Account NoA up to the end of 2010 reached 32.537 accounts.
8.00
4.00
Details of BSM Current Account are as follows: 1) BSM IDR Current Account During 2010, the performance of BSM Current Account reached Rp3.10 trillion. The number of BSM current account up to the end of December 2010 amounted of 25.816 accounts.
5.39
6.00 3.82
3.50
2005
2006
2.00 0 2007
2008
2009
2010
l Deposit
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PT Bank Syariah Mandiri Annual Report 2010
2) BSM Euro Current Account During 2010, the performance of BSM Euro Current Account reached amounting of negative Rp10 billion. The number of BSM Euro Current Account NoA up to the end of December 2010 amounted of 24 accounts.
3) BSM USD Current Account During 2010, the performance of BSM USD Current Account reached Rp939 billion. The number of BSM USD current accounts up to December 2010 amounted of 6.646 accounts. 4) BSM Singapore Dollar Current Account During 2010, the perforamance of BSM Singapore Dollar current Account reached amounting of negative Rp11 billion. The number of BSM Singapore Dollar up to the end of December 2010 amounted of 51 accounts.
II. Financing BSM keeps its commitment to supporting the developmentof small and medium indutry sector in 2010, proven from the financing distribution portion in SME sector amounted of 66.62% of total financing. Financing Growth
Financing Achievement As of 2010, BSM has distributed the financing to all business segments amounting of Rp23.97 brillion, increased by Rp7.91 trillion or grew by 49.21% compared with total financing of Rp16.06 trillion in 2009. The financing composition per business segment during 2010 was Rp8.00 trillion to corporate financing with a share of 33.38%. The portion was decreased when compared in 2009 amounted to 34.99%. Commercial financing in 2010 amounting to Rp5.07 trillion, with a share of 21.17%, was lower than in 2009 amounted to 31.10%. Micro and small enterprises financing in 2010 amounted to Rp 4. 08 trillion, with a portion of 17.03%, increase compared to the portion of micro and small enterprises financing in 2009 sebesar13.36%. Consumer financing Financing for period of 2005-2010 n In Billion (IDR)
2005 2006 2007 2008 2009 2010
Financing
5,848 7,415 10,326 13,278 16,063 23,968
Growth % 49,21 n Growth 2009-2010
Rp7.91 or 49.21%
in 2010 amounted of Rp6.81 with the portion of 28.42% increasing compared with the consumer financing portion in 2009 amounting of 20.55%.
Rp23.97 Rp16.06
Financing Comparison per Business Segment – n in Billion (IDR)
December 2009
December 2010
n In Trillion (IDR)
Segment
2009 2010
Growth %
Financing Portion %
Corporate
5,621 8,000
42.32
33.38
Commercial 4,996 5,073 (Medium) Financing Growth and Improvement of SME Portion
Micro and small enterprises
Financing Portion
SME Financing
Total
Rp5.62 34.99%
Rp10.44 65.01%
December 2009
4,082
Consumer 3,300 6,813
Rp8.00 33.38% Corporate Financing
2,146
Rp16.97 66.62%
December 2010
16,063 23,968
1.54 90.21
21.17 17.03
106.45
28.42
49.21
100.00
Meanwhile, the Sharia banking financing grew by 45.40% from Rp46.89 trillion in 2009 to Rp68.18 trillion in 2010. The BSM financing growth which exceeded the growth of the mentioned Sharia banking financing that resulted in the increase of BSM financing market segment from 34.26% in 2009 became 35.16% in 2010
n In Triliun (IDR)
In 2010: 1. Financing of Rp 23.97 trillion increased by Rp7.91 trillion or 49.21% from 2009 of Rp16.06 trillion. 2. SME financing portion increased from formerly of 65.01% became 66.62% (2010) 3. Total Debitor increased from formerly of 123.434 (2009) became 225.480 debitors (2010) or increased by 102.046 debitors (82.67%)
PT Bank Syariah Mandiri Annual Report 2010
63
Management Analysis on Company Performance
Financing Scheme of BSM Tahun 2010
BSM and Sharia Banking Financing period 2005-2010 80.00 68.18
70.00
10.25%
60.00 38.20
50.00
46.89
40.00
19.15% 27.94
30.00
20.45
20.00
15.27 7.42
10.00 5.85
10.33
52.91%
23.97
16.06 13.28
17.69%
0
n In Trillion (Rp) l BSM l Sharia Banking
Financing Market Share
l Murabahah lMusyarakah lMudharabahl Others
34.26% 65.74%
2. By Economic Sector Financing composition in Business service sector from 30.45% in 2009 became 29.37% in 2010. Meanwhile, the financing composition in other sectors decreased by less than 2%. While the increasing sector was other sectors which was rising of 7.88% dan Mining sector rose by 0.04%..
35.16% 64.84%
2009
2010
l BSM l Sharia Banking
Financing and Composition 1. By Scheme Financing portfolio by the end of 2010 was dominated by financing with Murabahah scheme (margin based sale-purchase) amounted of 52.91%, increased compared with the financing scheme with Murabahah at the end of 2009 amounting of 50.52%. The financing composition with Murabahah and Musyarakah (investment) sceme (shared result) decreased from 20.79% and 20.97% at the end of 2009 became 17.69% and 19.15% at the end of 2010
Financing Scheme Type 2010 n In Million (IDR)
2009 Nominal
1. Murabahah
8,114,527
2010 Share % 50.52
Nominal
Growth Share %
12,681,133
52.91
Nominal 4,566,606
% 56.28
2. Mudharabah
3,338,843
20.79
4,240,923
17.69
902,080
27.02
3. Musyarakah
3,256,613
20.27
4,590,191
19.15
1,333,578
40.95
8.42
2,456,223
4. Others Total
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PT Bank Syariah Mandiri Annual Report 2010
1,353,391 16,063,374
100.00 23,968,469
10.25 100.00
1,102,832 7,905,095
81.49 49.21
Financing Economic Sector 2010 n In Million (IDR)
1. Agriculture 1. Mining 3. Industry 4. Electricity, Gas & Water
2009 Nominal
2010
Growth
Share %
Nominal
Share %
Nominal
%
755,261
4.70
1,023,723
4.27
268,462
35.55
202,116
1.26
311,289
1.30
109,173
54.02
1,033,505
6.43
1,216,132
5.07
182,627
17.67
297,719
1.85
304,116
1.27
6,397
2.15
5. Construction
2,069,794
12.89
2,455,385
10.24
385,591
18.63
6. Trade
1,803,886
11.23
2,705,814
11.29
901,928
50.00
7. Transportation & Communication
1,020,032
6.35
1,358,852
5.67
338,820
33.22
8. Trade Service
4,890,668
30.45
7,039,188
29.37
2,148,520
43.93
9. Social service 10. Others Total
689,489
4.29
740,718
3.09
51,229
7.43
3,300,904
20.55
6,813,253
28.43
3,512,349
106.41
16,063,374 100.00 23,968,469 100.00 7,905,095
49.21
Corporate Financing
The description of financing by business segment is as follows:
a. Corporate Financing In order to support national Sharia bank growth acceleration, BSM assists corporate customers by distributing financing for business expansion and as well as working capital increment in important industrial sectors with positive growth dan interesting in accordance with the received risk. BSM provides the financing through mostly for sectors including to interesting criteria such as: agriculture dan palm oil plant, mining, coal, electricity and gas power plant, telecommunication. The financing provision is conducted by considering the precautionary principles. Besides, the corporation financing provision aims to serve the corporate customer with growing financial demand. In maintaining the growth of the on-going corporate financing, BSM proactively conducted a sustainable communication and more intensive visit with the corporate customers in order that the problems faced can be detected since early and be able to be resolved well. BSM distributed the corporate financing during 2010 with the growth of Rp2.38 trillion or 42.32%, formerly Rp5.62 trillion at the end of 2009 became Rp8.00 trillion at the end of 2010.
Rp8.00 Rp5.62
2009
2010
n In Trillion (IDR)
Corporate Financing Performance In 2010, corporate financing is directed to the development and integration of business and working capital. The focus of corporate financing is addressed to the business service sector of Rp7.04 trillion or 29.37%, trade sector amounting to Rp2.71 trillion or 11.29% and construction sector amounting to Rp2.46 trillion or 10.24%.
Special Financing and Syndication The desk of Special Financing and Syndication (DKS) was established in July 2007 with the vision as a syndication financing growth locomotive in Sharia banking. The establishment of DK is BSM commitment realization in supporting Sharia bank mission which is developed to support the real sector development. Besides, it also aims to serve the corporate customer whose financial demand keeps growing.
PT Bank Syariah Mandiri Annual Report 2010
65
Management Analysis on Company Performance
To support the provision of corparate financing, BSM distributes the sound financing through Sharia syndication financing and club deal and as well building professional agency that can contribute to the BSM fee based income growth. Through this syndication financing, BSM is expected to be able to be a locomotive in Sharia banking syndication financing and financing that needs big fund. The precautionary principle remains BSM’s priority. BSM distributed the syndication financing during 2010 with the growth of Rp191 billion or 41.89%, formerly Rp456 billion at the end of 2009 became Rp64 billion at the end of 2010.
3. In October 2010, BSM with Sharia Syndication Banks provided fund to finance the Floating Production Storage and Offlanding purchasing to PT Berlian Laju Tanker, ltd with total syndication of Rp366 billion with BSM portion amounted of Rp150 billion. 4. In October 2010, BSM in corporation with BNIS provided joint financing to PT Mora Telematika Indonesia to finance the development of telecommunication network in Java Island amounting of Rp50 billion. For this facility BSM was also appointed as Arranger, Facility & Security Agent..
Syndication Financing
5. BSM synergized with Bank Mandiri (clubdeal) to finance PT Intraco Penta with total financing of Rp343 billion in which BSM portion amounted of Rp132 billion. PT Intraco Penta operates in big equipment/ automotive trade
Rp647 Rp456
2009
2. October 2010, BSM has gained trust from PT Kutilang Paksi Mas (KPM) with total syndication facility amounted of Rp347 billion with BSM portion amounted of Rp152 billion for the lubricant and fuel trade work capital from PT Shell. For this facility BSM was appointed as Arranger, Facility & Security Agent.
2010
n In Billion (IDR)
In its relatively young age, the contribution given by the Bank is not seen underdog. As well as the role of BSM to specifically Sharia banking in syndication financing.
In the midst of tight business competition, BSM remains to achieve the target, In 2010, BSM closed 4 Sharia syndication & 1 Club Deal with total of Rp764 billion and total USD 163.10 million with the following explanation: 1. In August 2010, BSM regained trust from PT Media Karya Sentosa as Sharia Facility Agent. This is a Club Deal between Sharia syndication with conventional syndication wiht total syndication amounted of USD25 million dan BSM portion amounted of USD15 million Syndication Debitor List 2010
No. 1.
Debitor’s Name Indonesia Air Transport,PT
Business Line Air Transportation
Facilities Ijarah
Note Total Syndication: USD 30,2 Million
Status BSM Participant
2. Citra Sari Makmur, PT Telecommunication Murabahah Total Syndicationi: Rp982,52 Billion
Arranger, Security Agent & Perticipant
3.
Media Karya Sentosa PT. (stage 1)
LPG procurement Murabahah and Gas Compressor (Syndication 1)
Participant
4.
Media Karya Sentosa PT. (stage 2)
Procurement of Gas Murabahah Total Syndication Rp158,14 Billion Compressor (Syndication 2)
5.
Mora Telematika Indonesia, PT Telecommunication Murabahah
Total Syndication: Rp62 Billion
Arranger, Agent & Participant
6.
Optima Sinergi Comvestama, PT Terminal Gas LPG
Murabahah
Total Syndication: USD 29 Million
Participant
7.
Group Berlian Laju Tanker PT
Murabahah
Total Syndication: Rp180 Billiar
Participant
66
PT Bank Syariah Mandiri Annual Report 2010
Trasportasi Laut
Total Syndication: USD 67,5 Million (Rp627 Billion)
Arranger, Facility Agent & Participant
b. Commercial Funding (Medium)
Funding Mikro Businees
In order to support the acceleration of Sharia banking growth and also in order to meet the people’d needs, BSM distributes commercial funding (medium). The commercial funding also contributes positively to the funding growth of BSM entire businesses. BSM distributed commercial funding in 2010 with growth of Rp77 billions or 1.54%. It was Rp5.00 trillions at the end of 2009 increasing to Rp5.07 trillions at the end of 2010.
525
168
2009
2010
Comercial Funding
n In Billion (IDR)
BSM distributed Small Business funding with growth of Rp1.58 trillions in 2010 or 79.80%. It was Rp1.98 trillions at the end of 2009 increasing to Rp3.56 trillions at the end of 2010. Rp5.00
Rp5.07
Funding Small Businees
2009
2010
n In Trillion (IDR) Rp3.56
c. Funding Micro and Small Business
Rp1.98
1). Funding Micro and Small Business 2009
Empowering Micro and Small Business In order to boost economic growth in real sector and in order to support the Government program on employment, BSM is committed to funding micro and small business. It is important to empower micro and small businesses that constitute opportunity and challenge to increase funding portfolio in this segment. For BSM, the great number of micro and small businesses means that there are the lots of efforts to take to empower this segment and an opportunity to improve the financing portfolio in the segment. BSM distributed Micro Business funding with growth of Rp357 billions in 2010 or 212.50%. It was Rp168 billions at the end of 2009 increasing to Rp525 billions at the end of 2010.
2010
n In Trillion (IDR)
The efforts to reach out the customers of small micro segment are often restricted by the lack of business owners on this segment. The restrictions may come from the entrepreneurial internal and external factors. Internal factor is due to the lack of knowledge and insight of the micro and small business owner to access bank funding, and the lack of guarantee and capital owned by the micro and small business owners. External factor is due to inappropriateness between the funding scheme and the micro and small business customers’ needs. Besides, the existing bank infrastructure is not ready to reach out the micro and small business customers spreading in many locations, sectors, and communities that relate to funding economic scale. Such condition needs to take into account positively by taking empowering measures, particularly by banking. To overcome the restriction, the strategies that BSM takes in order to improve the micro-small business funding portfolio are among others: 1. To make linkage with LKM/S, BPR/S, BMT, KJKS/ UJKS and other Non Bank Finance Institutes as BSM marketing arm to reach out the micro-small business customers whose business venues beyond the BSM outlet.
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Management Analysis on Company Performance
2. To increase the micro-small customers and linkage partners’ capacity building so that they have more ability and that they can progress in serving the micro-small customers. To increase the capacity building linkage partners - particularly LKMS, BSM works together with some LKM/S associates in form of training, assistance, and supervision. 3. To conduct program joint funding with the Government to get guarantee facility, liquidity, and other assistance to increase funding on micro-small segment. 4. To build cooperation partnership pattern, in which BSM functions as facilitator micro-small business owners and entrepreneurs in a Core-Plasma partnership pattern, in which the core corporate guarantees the market and technology assistance. 5. To open special outlet serving Micro Business in Warung Mikro BSM brand located in the vicinity of micro business community. 6. To advance technology-based funding monitoring system for micro-small businesses to maximize funding monitoring and to reduce funding monitoring cost.
Micro-Small Funding Scheme As a Sharia bank having mission to support micro-small economy segment, Bank Syariah Mandiri (BSM) continuously makes efforts to boost its role to empower micro-small business through many program fundings. Program fundings distributed by BSM constituting cooperation between BSM and some government institutes, that is, Cooperative Ministry, Sea and Fisheries Ministry, Agriculture Ministry, and Environment Ministry. Funding program scheme distributed by BSM in 2010 consisted of: 1. Funding with SUP 005 fund was funding for micro-small business development, totalled Rp197 billions. BSM participation to distribute SUP 005 fund in order to strengthen the access of micro-small business financing for productive business activities constitutes one of the realization of BSM roles to side with micro-small economy segment in accordance with BSM vision and mission. The use of this funding scheme is to fund investment and fund working capital. A number of micro-small businesses that got facility under the funding scheme totalled 2,129; 2. Funding with Sharia Rolling Fund (DBS), financing fund up to now totals Rp87,316 billions. This funding scheme constitutes the BSM participation in cooperation program with State Minister Cooperative and UKM Office in order to empower micro business through Sharia Finance Service Cooperative Financing program (KJKS) or Sharia Finance Service Unit (UJKS) as Sharia Micro Finance Institute
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PT Bank Syariah Mandiri Annual Report 2010
(LKMS) in Sharia Rolling Fund (DBS) with final objective to enforce micro business financing access for productive business activities. A number of cooperatives that got facility under the funding scheme totalled 993 cooperatives; 3. Funding with DNS-KNLH fund is funding the cooperation program between BSM and State Environment Ministry (KNLH) to funding micro-small business by utilizing the Debt for Nature Swap (DNS) on environment sector. The use of DNS-KNLH funding in general is to fund investment. Total fund managed by BSM for this funding totals Rp54.70 billions with 128 customers. The types of investment funding paid out by this scheme are: a. Pollution Prevention Tools: l Clean production tool: energy efficiency and technology shift l Ozon layer prevention tool b. Recycling industry, that is, all tools that can be used to economize natural sources and to reduce waste (waste, plastic, metal, and wood recycling); c. End-of-pipe technologies: l Water waste processing installation l Air pollution controlling installation l Garbage processing installation d. Laboratorium Equipments: l Tools for emission analysis for motorized vehicle betterment; l Laboratorium equipments to analyze the environment quality. e. The shift to the more environment-friendly raw materials and the environment-friendly industry certification 4. Special funding on agriculture sector utilizes the SP-3 (Agriculture Funding Service Scheme) facility. This funding scheme constitutes cooperation program between BSM and Agriculture Department to assist the farmers/farming groups in feasible business but not bankable business because of insufficient guarantee by providing risk reserves and by paying funding guarantee service. The use of SP-3 funding is to fund investment and to fund working capital . The target is the farmer/livestock breeder within the microsmall business scale. SP-3 funding is allocated for farmers/livestock breeder as customers having business in crops, livestock breeding and/or plantation grouped, among others: a. Individuals; b. Grouping/Business group; c. Corporate body and non corporate body
5. Funding with People Business Credit (KUR) program is the RI Government guaranteeing program as the realization of Presidential Decree No 6 Year 2007 to boost the funding access to and development of micro, small, medium business, and cooperatives in order to eradicate poverty and to broaden job opportunities. BSM is the only Sharia Bank participating in this program. BSM KUR Funding Disribution up to December 2010 totalled Rp834.16 billions with 6,868 Customers.
Funding Micro Shops
308
18
2009
2010
n In Billion (IDR)
Compotition of Micro and Small Product in 2010 n In Billiar (IDR)
Under the Funding Guidance, Micro Shops can also finance multifunctions financing up to Rp100 millions. Products and micro funding requirements are adjusted to characteristics of the micro business. Now, micro business has three categories of products as shown follows: 1. Bud Funding (plafond Rp2 millions to 10 Rp10 millions)
920
1,644
2. Medium Funding (plafond > Rp10 millions to Rp50 millions) 530
197
3. Prime Funding (plafond > Rp50 millions to Rp100 millions) 4. Micro Shop KUR Funding (plafond maximum Rp20 millions)
308 51
l KUR l Linkage Program lMicro Shop l SUP 005 l DNS-KLH l Others
5. Multifunction Financing (plafond maximum Rp50 millions) Through Micro Shop service, it is expected that business access of micro business towards BSM funding will be getting better.
BSM Micro Shop BSM micro shops is funding service in branches and supporting branches for micro customers category. The maximum funding distributed to the customers through BSM micro shops totals Rp100 millions based on the maximum average of the current micro business. Up to December 2010, Outlet Micro Shops opened numbers 204 Outlets existing throughout Indonesia. In 2010, BSM distributed funding through micro shops with growth of Rp290 billions. It was Rp18 billions in 2009 increasing to Rp308 billions at the end of 2010. The main target of Micro Shops is individuals/corporate bodies who need investment funding/Working Capital funding up to Rp100 millions for productive activities. The model of customer in this category is sellers in traditional markets, motorbike service station, home industries, shops, and others.
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Management Analysis on Company Performance
BSM Micro-Small Business Empowerment Partner Total BSM Financing program currently amounts of 15 programs which are executed through cooperation with Departments/ Ministriates, NGOs and Local Municipals. No.
Partner
Programs KUR
Remark
1
Coordinting Ministry for
Economy – Republic of Indonesia
mengembangkan usaha mikro, kecil, menengah, dan koperasi
2
Ministry of Finance Republic
Financing extension program to enhance working capital of micro
of Indonesia
and small business segment in productive business sectors.
3
Ministry of Agriculture Republic
Agriculture Financing Service
Financing guarantee on micro-small investment and
of Indonesia
(SP3 -Deptan)
working capital for agriculture/livestock farmers
4
Ministry of Marine Affairs and
Economic Empowerment of
icro and small financing extension to fishery cooperatives /other cooperatives whose
Fishery – Republic of Indonesia
Coastal Communities (PEMP)
members are coastal area dwellers with business focus on fishery and marine services.
5
Ministry of Industry - Republic
Technology improvement in
Financing extension to assist Textile Industry and Textile Products (TPT) )
of Indonesia
Textile Industry and Textile
technology improvement by regeneration of machine/equipment for higher
Products (PT ITPT)
national competitiveness, quality, efficiency and productivity
6
State Ministry of Cooperatives and
Financing Guarantee,Sharia
Financing extension to KJKS/UJKS whose members operating productive micro
SME – Republic of Indonesia
Revolving Fund (DBS), KUR
business using Sharia financing scheme and the fund is revolved to other KJKS.UJKS
SUP 005
Indonesian Government Guarantee Program to improve access of micro-small,
Sharia cooperatives/business units
7
State Ministry of Environment
Debt Nature Swap
Financing extension to micro and small businesses operating in environmental
Republic of Indonesia
KLNH (DNS-KLH)
preservation services. Financing criteria include: Pollution prevention
equipment, Recycle Industry, Reduce, Reuse, Recycle (3R) equipment,
Waste processor and environment laboratory equipment.
8
PFinancing guarantee to investment and working capital financing targeted
Regency Administration of Kutai
Financing guarantee
at micro and small businesses in Kutai regency.
9
Financing guarantee to investment and working capital financing targeted
City Administration of Palembang
Financing guarantee
at micro and small businesses in City of Palembang.
10
Financing guarantee to investment and working capital financing targeted
Regency Administration of Cianjur
Financing guarantee
at micro and small businesses in Regency of Cianjur.
11
Micro and small Financing extension in the Regency of Sukabumi
Regency Administration of Sukabumi
Financing guarantee
where BSM acts as a channeling agent
12 Perusahaan Umum (Perum) KUR Jaminan Kredit Indonesia; -
Micro Credit Government guarantee program for micro, small medium business and cooperatives’ improvementin access
State-owned Credit
to financing and business development.
Guarantee Company
13
PT (Persero) Asuransi Kredit
Indonesia
cooperatives’ improvement in access to financing and business development
14
Damandiri Foundation
Special Financing for Midwives
Extension of financing to midwives for raising selfsufficiency
15
Swisscontact
Financing guarantee
Guarantee of financing to micro and small businesses in Aceh upon
KUR
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PT Bank Syariah Mandiri Annual Report 2010
Micro Credit Government guarantee program for micro, small, medium business and
recommendation from Swisscontact.
Pawn Fee
BSM SME Award In order to know better UMKN debitor profiles (SMME:Small, Medium, and Micro Enterprises), BSM gives BSM UMKN awards to SMMEs who have BSM customer/ partner in supporting the BSM image creation as a Bank that serves customers with category of SMME. BSM SME Award has been conducted every year since 2008 .
Rp37
Rp1
While the catgory of SME award which was conducted in 2010 divided into 2 categories: General and Special. For General Category having 8 criteria namely customer with category of BPRS,KJKS/KSU/BMT/ Sharia Cooperatives (Kopsyah), Employee Cooperatives category of TNI, POLRI, PNS, Employee Cooperatives for category of SOEs, BUMD dan Employee Cooperative for categroy of Private, Micro Real Sector, Small Real Sector and Medium Real Sector. While special category is an award given to BSM customers who earn financing facility for DNS,KLH,SU 005 and KUR programs. In order to support and participate in environmental conservation, in 1010, BSM added up a category to be competed namely special category of Green SME .
2009
n In Billion (IDR)
The number of pawn outlets also increased by 124 outlets, formerly 38 outlets at the end of 2009 became 162 outlets at the end of 2010.
Pawn outlet
2). BSM Pawn Financing
162
Since the establishment of Pawn Desk at the end of 2008, BSM continuously improves the growth of pawn financing. In order to support the improvement and efforts to respond to the market demand and business competition, BSM adds gold pawn service outlets which are spreaded in some cities in Indonesia. BSM distributed pawn financing during 2010 with the growth of Rp545 billion, formerly of Rp42 billion at the end of 2009 became Rp587 billion at the end of 2010. Pawn Financing
38
2009
2010
n In Unit
BSM always improves the service with tagline bank namely “Partner for Quick and Easy Fund”. In less than 20 minutes, the financing can be earned by those pawning the gold. Collaterals can be jewelry or gold. The cost charged is relatively competitive. Cost includes insurance which is always developed. In order to extend the pawn service, BSM does not stop the possibilty to open distribution channels with third parties to open pawn service. This is conducted to accelerate the network development in regions not covered by BSM outlets. To guard the sound business growth and maintain the non performing financing, BSM develop risk management and Quality Assurance that will always ensure the insurance quality , ensure the execution in accordance with process & procedure, equipment completeness, market potential survey & compettion around the branch. It is proven that dduring 2010, the number of NPF pawn financing was 2.45%.
Rp587
Rp42
2009
2010
2010
n In Million(Rp)
In line with pawn financing growth, pawn fee also increased by Rp36 billion, formerly Rp1 billion in 2009 became Rp37 billion at the end of 2010.
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Management Analysis on Company Performance
d. Consumer Financing
Consumer Financing Segment Composition
BSM consumer financing is one of business which is developed and marketted to fulfil the people demand. Consumer financing gives positive contribution to financing growth at BSM overall business. This performance is evidenced by the low level of NPF and return of good share.
l
BSM distributed the consumer financing during 2010 with the growth of Rp3.51 trillion or 106.45% formerly Rp3.3 trillion at the end of 2009 became Rp6.81 trillion at the end 2010
l
l
Konsumer Financing l
Rp6.81
l
Rp3.30
2009
l
2010
n In Trillion (IDR)
Housing Financing BSM has conducted cooperation agreement with PT Jamsostek Persero to distribute housing financing for Jamsostek members. The agreement will create a good synergy for Jamsostek members to get the reasonable price housing. Automotive Financing BSM incorporated with main dealer namely PT Tunas Mobilindo that has some sub dealers. Multi-purposes Financing BSM signed a cooperation MoU with Ikatan Dokter Indonesia to provide equipment financing for the doctors. Haj Bridging Fund Financing BSM gives financing to haj pilgrim candidates at the registration to SISKOHAT. Employee Cooperatives Finance BSM gives financing to corporate employees to be cooperatives members. Multifinace Financing BSM incorporated with multifinance to distribute. Car and motor ownership financing to the end user
Consumer Financing Development in 2010 among others: 1. Consumer Financing Development in education sector (Eduka), financing for retirees, housing financing, etc.
Consumer Financing Segment Composition in 2010
2. The extension of ditribution network through cooperation with dealer, developer and Universities 3. The sound financing quality control
27%
4. The centralized consumer financing management with the support from information technology.
38% 6% 1%
5. The establishment of CFBC (Consumer Financing Business Centralized) which was innaugrated at the early February 2009.
12% 16%
The pattern of customer financing distribution more focused on the implementation frameswork of business to business. Employee Cooperatives is one of BSM distribution line to distribute consumer financing to all employees in Indonesia. Currently, BSI has distributed consumer financing to more than 2500 employee cooperative. BSM will continuously develop consumer financing through the expansion pattern of distribution line through various parties to accomodate consumer demands.
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PT Bank Syariah Mandiri Annual Report 2010
l PKPA l Multifinance l Housing l Car l Haj l Others
With portfolio amounting of Rp6.81 trillion, financing to the cooperatives members is the main product with the contribution of 38% from total consumer financing. Followed by haj bridging financing product amounting of Rp1.63 trillion or 16%, then followed by housing financing amounting of Rp1.19 trillion or 12% for multifinance product amounting of Rp624 billion or 1%.
e. Tresury and International Banking Praise be to God Bank Syariah Mandiri keeps recorded the good growth in international banking transaction. Outgoing remittance grows approximately 195% supported by professional transaction services in branches and by competitive remittance cost. The conversion of rupiah towards many foreign exchange with rate referring to spot price in exchange is prepared by dealing room. Bank Syariah Mandiri actively makes transaction in six currencies. They are USD, EUR, JPY, SGD, AUD & SAR Incoming remittance grows significantly mainly money transfer in from Malaysia through transfer product - D.U.I.T. (Dana Untuk Indonesia Tercinta). The advantage of this product is that the transaction from Malaysia to the beneficiary’s account in various banks in Indonesia can be received by the beneficiary in real time. The other up-to-dated advantage is the service availability for the beneficiary who doesn’t have any bank account. The beneficiary just has hand phone and withdrawal can be done in the nearest post office. BSM also serves remittance transaction through Western Union providing efficiency for the customers who need to get fund immediately.
USD bank note USD and SAR is available in BSM branches. BSM as the second biggest bank of 21 conventional and Sharia banks that handle haj activities providing SAR bank note to the prospective haj pilgrims needing it. During the haj embarkation season in 2010, the BSM SAR service counters were opened at many haj embarkations throught Indonesia. BSM provides SAR bank note SAR from the lowest nominal SAR1 to the highest nominal SAR100.
III. Service (Net Fee Based Income) Up to 31th December 2010, income from service sector / fee based income (Pure FBI) increased to Rp370.94 billions; the growth totalled Rp140.19 billions or 60.75% compared to the 2009 of Rp230.75 billions. The increase was contributed by the Haj fee which numbered Rp48.77 billions; operational fee grew to Rp64.57 billions; syndication fee and obligation increased to Rp12.46 billions; foreign transaction fee grew to Rp13.05 billions; and micro funding fee grew to Rp1.34 billions. Free Based Income Murni for period 2007-2020
Description
Export transaction in BSM gives efficiency to the customers because there is no kind of in transit interest in the L/C sight negotiation process.
International Banking Haj
Import transaction grows about 140% thanks to the trust of the customers who make their import transaction via BSM. The support from more than 200 correspond banks throughout the world is able to provide the best service to BSM customers. The commitment of correspond banks that provide trade line facility hardly undergoes any change compared to that of the previous year after they witness the BSM solid performance during the year 2010. The cost charged by the correspond banks was shortly increased at the beginning of 2010, but gradually decreased and got back to normal since the beginning of the 2010 second semester. L/C usance payable at sight (UPAS) is one of the products to make import transaction on goods needed by the customer. Several goods imported in 2010 cover among others carbon steel, pipe steel, compressors, telecommunication tools, chemical industry raw materials, spareparts, generators, and printing machine. Importing customers can can enjoy this facility to meet the demand to import goods with relatively cheap expense because BSM provides L/C UPAS facility in cooperation with variety of weel-known financing banks abroad. This cooperation is mutual benefitting for the two parties, and at the end this has positive impact for BSM customers.
Micro Financing
Transaction Value (Rp) Billion 2005 2006 2007 2008 2009 2010 4.57
8.46
14.67
23.91
23.09
36.14
14.19 14.75 31.61 72.06 92.78 141.55 7.92 10.14 16.54 15.81 13.39 14.73
Syndication & Obligation 5.74
-
1.12
16.04
7.97
20.43
Operation
26.56 41.78 58.87 75.63 93.52 158.09
Total
58.98 75.13 122.81 203.45 230.75 370.94
The income growth from haj shows the BSM seriousness to care for the haj segment. BSM works on this segment in cooperation with Haj Pilgrim Guiding Group (KBH). Whereas the income from operation supported by the increasing number of transaction followed by the increasing number of BSM customers. Description on the Service Product (fee based income) is as follows: 1. Haj Fee The Haj component materialized fee of 141.55 billions in 2010, increasing from Rp48.77 billions or 52.57% growth compared to the 2009 of Rp92.78 billions. The growth shows that there is an increase of BSM haj lending because the haj payment month was over. 2. Operational Fee The operational fee realization in 2010 was Rp158.09 billions having the growth of Rp64.57 billions or 69.04% compared with the 2009 of Rp93.52 billions.
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Management Analysis on Company Performance
3. TLN (Foreign Transaction) Fee The Foreign Transaction fee realization (TLN) was Rp36.14 billions in 2010, having the growth of Rp13.05 billions or 56.52% compared to the 2009 of Rp23.09 billions.
B. Analysis on Corporate Finance Performance
4. Micro Funding Fee The 2010 micro funding fee was Rp14.73 billions, having the growth of Rp1.34 billions or 10.01% compared to the 2009 of Rp13.39 billions. The growth of micro funding Fee was supported by the increase of Mudharabah Muqayadah SUP 005 fee in which many branches shifted the new funding from previously utilizing common commercial fund to currently using SUP 005 fund.
Finance Performance in 2010 The BSM Finance Performance in 2010 recorded the Net Profit growth of Rp127.58 billions or 43.85% . It was Rp290.94 billions in 2009 increasing to Rp418.52 billions in 2010. The BSM net profit earnings was 39.87% of Sharia banking net profit totalled Rp1.05 trillions in 2010. Net Profit n In billion (IDR)
5. Obligation Fee Up to the end of december 2010 obligation fee realization was Rp0.93 billions, decreasing Rp1.27 billions or 57.72% compared to the end of December 2009 of Rp2.20 billions. 6. Syndication Fee The 2010 syndication fee realization was Rp19.51 billions, having growth of Rp13.77 billions or 239.90% compared to the 2009 of Rp5.74 billions. This growth was due to the increase of syndication financing volume because BSM acted as the arranger for the PT Berlian Laju Tanker funding. 7. Remittance Fee The 2010 income from Western Union fee totalled Rp1.14 billions, having growth of Rp0.22 billions or 23.91% compared to the 2009 of Rp0.92 billions. The 2010 income from Merchantrade was Rp2.65 billions, having growth of Rp1.54 billions or 138.74% compared to the 2009 of Rp1.11billions. The Remmittance fee growth remained constant. This indicates that the same customers make perpetual transactions in BSM. 8. Pawn Fee The 2010 pawn fee realization reached Rp36.39, having growth of Rp35.43 billions or 3,690.63% compared to the 2009 of Rp0.96 billions. The growth was caused by the increasing number of pawn funding volume particularly with the golden swan program and the cooperation with community (Enterpreneur University) in the form of gold investment seminar.
500 419
400 291
300 196
200 103
100 17
30
115 84
65
16
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Based on the data, the BSM net profit share towards Sharia banking shows that the BSM net profit share remains constant at range of 37% 40%.
Market Share Net Profit BSM
39.87%
36.79%
63.21%
2009 (6 BUS, 25 UUS)
60.13%
2010 (11 BUS, 23 UUS) l BSM l Sharia Banking
The success of net profit augment, it was mainly supported by the increasing funding portion distributed with the financing growth of Rp7.91 trillions or 49.21%. The amount of previous financing was Rp16.06 trillions at the end of 2009 and increased to Rp23.97 trillions at the end of 2010.
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PT Bank Syariah Mandiri Annual Report 2010
Balance Sheet Summary period 2005-2010 n in billion (IDR)
Description
2005 2006 2007 2008 2009 2010
Asset
8,273 9,555 12,885 17,066 22,037 32,482
Earning Assets
7,971
8,913
12,269
16,399
21,319
30,744
Liabilities
1,700
2,658
2,647
2,343
3,273
5,010
Temporary Syirka Fund
5,940
6,200
9,427
13,315
16,963
25,251
200
200
400
200
200
200
Third party Fund
7,037
8,220
11,106
14,898
19,338
28,998
Issued Security
l
Current Account
1,261
2,054
1,846
1,812
2,591
4,015
l
Saving
1,958
2,668
3,872
5,284
7,163
9,873
l
Deposit
3,818 3,498 5,388 7,802 9,584 15,110
Equity
633
Here is a general discussion and management analysis regarding the development of BSM business period in 2010. The discussion is organized according to the Financial Statements for the financial year 2010 audited by Public Accountant Firm of Purwantono, Suherman & Surja with opinion ‘fair without exception’.
I. Balance Sheet Progress BSM conducts its best to achieve its initial mission, that is, to realize the sustainable growth and the profit by managing the asset and liabilities meticulously, prudently, and optimally. With the principle, BSM has the sufficient capability to obey all obligation punctually, to keep liquidity, and to gain sufficient earnings at the reasonable risk level.
a. Asset
697
811
1.208
1.600
2.021
During the 2005-2010 periods, the BSM total asset increased from Rp8.27 trillions in 2005 to Rp32.48 trillions in 2010 or increasing of 31.86% average. 1). Fixed Assets The BSM fixed assets value as of 31 December 2010 was Rp365 billions or increased to 62.95% of the end of year 2009 totalled Rp224 billions. In 2010, the augment of fixed assets investment was significant. This happened especially in accordance with the BSM network development to continuously be able to reach out the economy centres all over Indonesia. 2). Earning Assets The increase of the BSM total majority assets was contributed by earning assets. This can be seen from the augment of earning assets composition towards the previous total assets of 96.73% in 2009 to 94.64% in 2010. The earning assets value increased to 44.18%, from Rp21.32 trillions in 2009 to Rp30.74 trillions in 2010.
The BSM asset consists of productive and non-earning assets. The BSM earning assets cover: funding, Indonesian Bank Shariah Certificate (SBIS), placement on other banks, marketable security, administrative account while the BSM non-earning assets cover cash, demand deposit in Bank Indonesia, fixed assets, and other asset.
Component of Earning Assets Periode 2005-2010 n Dalam billion (IDR)
Description
Financing Marketable Securities SBIS/FASBIS Placement in other Bank Administrative accounts Total Earning Assets
2005 2006 2007 2008 2009 2010 5,848 7,415 10,326 13,278 16,063 23,968 387 1,373 76
502
805
1,274
2,044
2,183
780
670
1,305
2,381
3,412
60
303
336
492
721
287 155 166 206 339 460 7,971
8,912
12,270
16,399
21,319
30,744
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Management Analysis on Company Performance
Productive Assets Quality Achievement, Ratio Cash for financing write off, and Ratio Cash for earning assets write off in 2010 and the financing quality and earning assets had improvement: 1. NPF Gross from 4.84% to 3.52% 2. NPF Nett from 1.34% to 1.29% 3. PPAP ratio available /PPAP required to set from 108.16% to 127.64 4. Earning assets of PP Cash from 100.97% to 106.99% 5. Financing PP Cash from 104.23% to 104.71%
NPF Gross & NPF Nett
5.) Demand deposit and Placement in other Banks The position of demand deposit and placement in other banks as of 31st December 2010 was Rp664 billions or increased 35.23% compared to the position of demand deposit and placement in other banks in 2009 totalled Rp491 billions. The demand deposit in other banks was made to the third Parties and to parties with special relation. The demand deposit in other banks increased to Rp474 billions in 2010 from Rp273 billions in 2009. The placement in other banks decreased from Rp218 billions in 2009 to Rp190 billions in 2010. The placement in other banks is made in form of wadiah, time deposit and/or mudharabah deposit, and other forms under the syaria principles.
4.84%
3.52% NPF Gross 1.34% NPF Nett
December 2009
NPF Gross
1.29% NPF Nett
December 2010
3.) Balance Cash position as of 31st December 2010 was Rp692 billions or increased about 55.16% compared to the cash position at the end of 2009 totalled Rp446 billions. 4.) Placement in Bank Indonesia The demand deposit position in Bank Indonesia, as of 31st December 2010 was Rp1,401billions increasing 45.94% compared to the 2009 Rp960 billions. The rupiah percentage of the Minimum Obligation Demand Deposit (GWM) in 2010 was 5.11% increasing from 5.05% of 2009. The foreign exchange percentage of the Minimum Obligation Demand Deposit (GWM) in 2010 was 5.98%, decreasing to 6.91% at the end of 2009.
Posisi Sertifikat Bank Indonesia Shariah (SBIS) per 31 Desember 2010 sebesar Rp1.25 triliun atau turun 34.90% dibandingkan posisi akhir tahun 2009 sebesar Rp1.92 triliun. Penurunan ini disebabkan BSM menginvestasikan dana pada aktiva produktif dengan imbal bagi hasil yang lebih besar.
Posisi Fasilitas Simpanan Bank Indonesia Shariah (FASBIS) Per 31 Desember 2010 sebesar Rp2.162 miliar atau naik 363.95% dibandingkan posisi akhir tahun 2009 sebesar Rp466 miliar.
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PT Bank Syariah Mandiri Annual Report 2010
6.) Marketable Securities The position of marketable securities as of 31st December 2010 was Rp2.18 trillions or increased to 7.92% compared to the position of marketable securities in 2009 totalled Rp2.02 trillions. The largest portion of marketable securities owned by BSM was National Shariah Marketable Securities (SBSN) of 47.89%.
Marketable Securitie Base on Maturity 2010 n In Billion (IDR) Description
Owned until due date
Less than 1 year
115
26
9
150
6.88
1-5 year
Available Fair Value Total to Sale
Portion (%)
1,854
83
-
1,937
88.77
5-10 year
95
-
-
95
4.35
Total
2,064
109
9
2,182 100.00
7.) Funding Distributed Financing as of 31 December 2010 reached Rp23.97 trillions or having the growth of 49.21% or Rp7.91 trillions from Rp16.06 trillions at the end of 2009. The growth of financing was followed by the increase of SME funding portfolio portion. The SME funding composition as of 31 December 2010 reached 66.62% of 65.01% in2009. This achievement constitutes the BSM commitment to developing small and medium industry sector by continuously increasing the funding portion on SME segment. 8.) Write off Funding In 2010, BSM made financing write off totalled Rp228 billions. The amount was much more than that in 2009, that is, Rp56 billions. The financing write off prior to 2010 but received again during the 2010 totalled Rp28 billions.
Write off n in billion (IDR)
Description
2009
2010
Initial Balance
388
408
Write off
56
228
Reveral receivables
36
28
Year-end balance 408
609
9.) Financing Quality Classified Earning Assets towards Earning Assets (APYD/ AP) as of 31 December 2010 reached 2.90% of the previous ratio 4.41% at the end of 2009. The NPF gross ratio bettered from 4.84% at the end of 2009 to 3.52% in 2010. Thus, the NPF netto ratio improved from 1.34% at the end of 2009 to 1.29% at the end of 2010. BSM sustainably makes efforts to keep the quality of funding by monitoring the debitor’s business progress. Furthermore, BSM continuously makes improvement and settlement program on troubling debitors.
b. Liabilities The amount of liabilities had increase in 2010 to Rp5.01 trillions or 53.07%, that is, from Rp3.27 trillions in 2009 to Rp5.01 trillions in 2010. This increase was due to the augment of immediate liabilities and wadiah deposit respectively Rp204 billions and Rp1.49 trillions or 75.00% and 55.60%. The immediate liabilities go up due to the the augment of bonus reserves and tantiem for employees, directors, and the board of commissioners totalled Rp99.58 billions, the increase of first-rate ATM was Rp55.64 billions. Wadiah deposit went up in line with the construction of new BSM branches and also the addition of depositors resulting in the intensive promotion conducted by BSM through “Gelegar Hadiah” (Showering Gifts) program and customer get customer program. This increase is in in accordance with the Bank strategy to improve the low cost fund proportion particularly savings.
c. Fund Sources and Compisition BSM successfully raised Rp29.00 trillions of public fund in 2010, growing to 49.95% or totalled Rp9.66 trillions from Rp19.34 trillions in 2009.
The comparison of Fund Sources and Composition of 2009 and 2010 n in billion (IDR)
Description
2009
2010
Growth
1.Third Party Fund a. Current Account b. Saving c. Deposit
Nominal %
19,338 2,591 7,163 9,584
28,998 4,015 9,873 15,110
9,660 1,424 2,710 5,526
49.95 54.96 37.83 57.66
2. Placement from other banks 362
441
79
21.82
3. Issued Securities
200
200
-
-
-
-
-
-
117
150
33
28.21
4. Subordination Debt 5. Others 6. Equity
1,600 2,021
421 26.31
The Third Party Fund The Third Party Fund (TPF) was collected from the public in form of demand deposit, savings, and deposit by utilizing wadiah and mudharabah agreement. The Demand Deposit augmented to Rp1.43 triliun or grew 54.96%, from Rp2.59 trillions in 2009 to Rp4.02 trillions in 2010. Savings rose to Rp2.71 trillions or grew 37.83%, from Rp7.16 trillions in 2009 to Rp9.87 trillions in 2010. Deposit increase to Rp5.53 trillions or grew 57.66%, from Rp9.58 trillions in 2009 to Rp15.11 trillions in 2010. The TPF significant growth was followed by the growing number of bank accounts totalled 611,313 bank accounts or increased to 38.24% from 1,598,729 bank accounts in 2009 to 2,210,042 bank accounts in 2010.
TPF Growth and Total Accounts Period 2009 - 2010 n In Billion (IDR)
Description
2009
2010
Current Accuont
2,591
4,015
Saving
7,163
9,873
Deposit Total Total Accuont
9,584 19,338 1,598,729
15,110 28,998 2,210,042
Saving from Other Banks Savings from other banks as of 31 December 2010 reached Rp13.92 billion, decreased Rp41.71 billion or minus 74.99% to the savings positio from other banks at the end of 2009 amounting Rp55.66 billion.
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Management Analysis on Company Performance
Subordination Obligation
a. Operating Income
BSM issues subordination Obligation in order to strengthen the capital especially Tier II. Total Subordination obligation as of 31 December 2010 amounted of Rp200 billion. This obligation was issued in 2007 dan having 5 year term
The realization of Operating income up to the end of 2010 reached Rp3.33 trillion, grew by 37.91% or Rp917 billion compared with the achievement on Operating Income at the end of 2009 amounted of Rp2.42 trillion
d. Equity Equity as of 31 December 2010 reached Rp 2.02 trillion, grew by Rp421 billion or 26.25% to the equity position at the end of 2009 amounting of Rp1.60 trillion. The increment mostly resulted from 2009 profit and the current profit.
f. Paid-in Capital Issued capital and fully paid- in 2010 amounting of Rp658.24 billion for the number of share amounting 131,648,713 shares or amounting of 65,82% from capital base amounting of 200,000,000 shares, with nominal of Rp5,000 per share.
II. Lost Profit Realization In 2010, BSM succeeded to earn net profit of Rp418.52 billion, increased 43.85% from 2009 net profit amounted of Rp290.94 billion. This achievement resulted from, BSM successfully maintained the growth and maintain the poductive assets especially financing and as well as increasing the Fee Based Income.
1.) Revenue from Fund Management by the Bank as Mudharib. The realization of Revenue from Fund Management by the Bank as Mudharib up to the end of 2019 reached Rp2.77 trillion, grew by 33.66% or Rp697 billion compared with the achievement on Revenue from Fund Management by the Bank as Mudharib at the end of 2009 amounted of Rp2.07 trillion. The increment on Revenue from Fund Management by the Bank as Mudharib in 2010 resulted from BSM conducting the higher financing expansion amounting of 49.25% with controlled NPF gross at level of 3.52% and NPF netto of 1.29%. 2.) Third Party Rights on the Shared Income of Temporary Syirkah Funds In line with the increment on Fund Management by Bank as Mudharib, bank liability to fulfil the the rights of third party on shared income of temporary syirkah fund increased as well from formerly of Rp902 billion in 2009 became Rp1.16 trillion in 2010, rose by Rp260 billion or 28.82% 3.) Fee Based Income The realization of Fee Based Income, up to the end of 2010 reached Rp565.54 billion, rose by 63.28% or Rp219.57 billion compared with 2009 amounting of Rp346.97 billion.
Income Statement n in billion (IDR)
Description
2009
2010
Growth Nominal
%
Loss/ Profit 1. Operational Income a. Fund Management Income by the Bank as Mudharib b. Other Operating Income
2,417,994 2,071,022 346,972
3,334,613 2,768,071 566,542
916,619 697,049 219,570
37.91 33.66 63.28
(1,991,845) (258,363) (3,915) (901,570) (63) (827,934)
(2,754,934) (310,942) 4,152 (1,161,680) (706) (1,285,758)
(763,089) (52,578) 8,067 (260,110) (642) (457,822)
38.31 20.35 206.05 28.85 1,019.05 55.30
3. Operating profit
426,149
579,679
153,530
36.03
4. Non-operating Income (Expense)
8,018
3,636
(4,382)
(54.65)
5. Profit before tithe
434,167
583,315
149,148
34.35
6. Profit before Tax
418,403
568,732
150,329
35.93
7, Net Profit After Tax/ Net Profit
290,943
418,519
127,576
43.85
2. Operating Expense a. Earning assets loss expense allowance b. Non-earning assets loss expense allowance c. Third party fund rights to profit sharing of Shirkah Temporary Fund d. Reversal of Estimation (expense) to loss of commitment and contigency e. Other operating expenses
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PT Bank Syariah Mandiri Annual Report 2010
The increment was supported by the increasing Haj fee amounted of Rp48.77 billion and Operational Fee grew by Rp64.57 billion. The Income growth from haj is indicated by the serious effort of BSM to manage the haj segment. It was conducted by giving the best service to the haj pilgrim candidate and incorporated with Kelompok Bimbingan Haji (KBH). While in order to earn income from operational, it was supported by the increasing number of transaction which was followed the increment of BSM customers. Besides, BSM also develops electronic banking which is positively responded by the customers .
b. Operating Expenses In line with the Operational Income increment, the realization of Operational Expenses increased as well of which formerly Rp1.99 trillion in 2009 became Rp2.75 trillion in 2010 or rose by 38.31%.
III. Key financial Ratios a. Capital Adequacy Ratio (CAR) The significant business expansion in 2010 pushed BSM Capital Adequacy Ratio (CAR) to level of 10.60% decreased compared with 2009 amounting of 12.39%
BSM and Sharia Banking CAR Period 2005-2010
18
16.25
16 14 12.41 12
The increment on the operational revenue occured because BSM was establishing a significant business infrastructure in 2010. In 2010, BSM opened 144 new outlets which significantly influenced the demand on employees. During 2010, there have been the augmentation of employees amounting of 3,358 people (including outsource) so that total employees as of 31 December 2010 amounted of 7.902 people.
c. Assets Write Off Allowance Expenses In 2010, BSM registered the Assets write off allowance expenses (PPA) amounted of Rp306.79 billion increasing compared with 2009 PPA registered amounting of Rp262.28 billion. The relatively big reserve increment indicated BSM prudent act in order to anticipate the loss from non performing financing. By giving the expenses to PPAP cash ratio (the comparison of PPAP to NPF) rose of which formerly 100.97% in 2009 became 106.99% in 2010.
d. Operating Profit In 2010, the realization of operating profit reached Rp579.68 billion, rose by 36.03% or Rp153.53 billion compared with the realization of 2009 operating profit amounting of Rp426.15 billion.
24.81
13.73
12,39 12,56
11,88
12,66
12,43
10.77
10.67
10
10,60
2005 2006 2007 2008 2009 2010 Sharia Banking n in %
BSM
The significant financing expansion in 2010 with the growth of 49.21% or Rp7.91 trillion mostly contributed to capital adequency ratio decrease. Nevertheless, in order to strengthen BSM capital structure, the Majority Shareholders, PT Bank Mandiri (Persero), tbk, is committed to adding the capital.
b. ROE and ROA Performance Trend on BSM Return on Equity (ROE) in 2010 indicated the increment. BSM ROE in 2010 amounted of 63.58% above the average ROE of 5 (five) National Banking Sharia General Banks amounted of 17.62% . The increment mostly resulted from the significant net profit achievement compared with the succeding year.
ROE BSM dan Sharia Banking Periode 2005-2010 70
e. Net Profit BSM in the period of 2010, suceessfully earned the net profit of Rp418.52 billion, rose by Rp127.58 billion compared with the profit earned in the period of 2009 amounting of Rp 290.94 billion. The increment was mostly resulted from the increasing financing portion given by BSM and the business expansion such as outlets augmentation and so on.
60
63.58 53.10
50
46.21
44.20
40
40.65
28.28 30
25.03
20
23.39
10
32.22 24.66
17.62
18.27 2005 2006 2007 2008 2009 2010 BSM
Sharia Banking n Dalam %
PT Bank Syariah Mandiri Annual Report 2010
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Management Analysis on Company Performance
Meanwhile BSM Return onf Assets (ROA) slightly decreased from 2.23% in 2009 to 2.21% in 2010. However, BSM ROA was higher than the average ROA of 5 (five) other Sharia General Bank reaching of 1.67%. The decrease was caused by the significant growth of BSM in 2010
e. Financing Deposit Ratio (FDR) Financing Ratio to BSM Third party fund (FDR) decreased from 83.07% in 2009 to 82.54% in 2010. This condition occured as the result from the growth of the third party fund of the expansive BSM that reached 49.21% or Rp7.91 trillion.
BSM and Sharia Banking ROA Period 2005-2010 3.5 3.07
BSM and Sharia Banking FDR Period 2005-2010
3.0
103.65 2.5 2.0
2.23
97.75
2.21
98.90
99.76
95
1.83 1.82
1.55
1.5 1.0
100
90
1.53 1.42
1.35
1.48
89.70
92.98
87.33
89.67
85
1.10
80
0.5 2005 2006 2007 2008 2009 2010 BSM
90.21
1.67
Sharia Banking n Dalam %
83.89
83.07
82.54
75 70 2005 2006 2007 2008 2009 2010 BSM
c. Net Revenue Margin (NRM)
Sharia Banking
n In %
f. Non Performing Financing (NPF)
At the year end of 2010, net revenue margin ratio reached 6.57%, decreased 0.05% compared with NRM ratio of 2009 of 6.62% .
BSM financing quality keeps indicating improvement. The NPF ratio in gross decreased significantly from 4.84% in 2009 to 3.52% in 2010
d. Operational Expenses to Operational Income From the efficiency side, Operational Expenses Ratio to Operational Income (OE/OI) tended to be stable at level of 74.97%. However, OE/ OI remained lower than the average OE/OI of 5 (five) Sharia General Bank of 80.54%. BSM keeps enhancing the efficiency by optimizing the operating income and contolling the operating expenses.
BSM and Sharia Banking NPF for period of 2005-2010 7
6.94
6 5.64 5
4.84 4.75
4 3.50
BSM and Sharia Banking BO/PO Period 2005-2010
5.66
4.05
4.01
3
95 2 90
3.52 3.02
2.82 1.42
1
2005 2006 2007 2008 2009 2010 85
85.70
83.84
BSM 81.34
80
75
84.39 80.76
78.91 76.77
77.45
80.54
78.71 73.76
70
74.97
2005 2006 2007 2008 2009 2010 BSM
80
PT Bank Syariah Mandiri Annual Report 2010
Sharia Banking n in %
Sharia Banking n Dalam %
Financial Ratio
31 Dec 2009
31 Dec 2010
1. CAR
12.39%
10.60%
2. ROE
44.20%
63.58%
3. ROA
2.23%
2.21%
4. Net Revenue Margin (NRM)
6.62%
6.57%
5. BO/PO
73.76%
74.97%
6. FDR
83.07%
82.54%
4.84%
3.52%
7. NPF (Gross)
C. Earning Assets Write off Cash Ratio
Shareholders
PT Bank Mandiri (Persero) Tbk.
Shares
Total (IDR)
131.648.712
99.999999 658.243.560.000
1
0.000001 5.000
PT Mandiri Sekuritas Total
% Shareholding
131.648.713 100.000000 658.243.565.000
The Bank Solvancy Level In 2010, the capability of BSM in fulfilling its long term liabilities or capability to fulfill its liabilities supposed to liquidated is indicated by the level of capital Adequency Rate at level of 10.60% decreased compared with 2009 amounted of 12.39%. The bank capability to cover a part of overall debts to Equity ratio amounted of 247.94% increased compared with 2009 of 204.53%
PPA Financing ratio to NPF increased from 104.23% in 2009 to 104.71% in 2010 This condition indicated that the Bank keeps increasing to PPAP cash ratio in order to anticipate the Non performing Financing customers and the reduction of customer collectibility.
The Corporate Account Receivables Collectibility Level In 2010, BSM was successful to maintain the account receivable collectibility in the category of prudent amount of 92.68% out of total account receivables, increased compared with 2009 amounting of 90.43%
D. The Corporate Capital Structure and Solvancy The Mangement Policy on Capital Structure PT Bank Mandiri (Persero) Capital Structure acting as Shareholder, has agreed on the equity augmentation stage III and IV amounted of Rp200,000,000,000, through lettter No.FST/1346/2010 dated 29 November 2010. The equity augmentation has got the agreement from Bank Indonesia dan stated effective after receiving GMS agreement. The fully Paid-in and issued capital as of 31 december 2010 is as follows:
E. Bank Soundness Level BSM draw the assessment on The Bank soundness Level by self assessment for the position as of 31 December 2010 with the following details: Financial factors consisted of Capital, Asset Quality, Rentability, Liquidity, and Sensitivity to Market Risk at level 2, meaning the condition of bank is classified as good in supporting the business development and anticipating to the condition change of economic and financial industri. Management Factors consist of General Management, Risk Management, dan Compliance Management at Level A, meaning Bank Management has a satisfactory track record, independent, adaptable to the external condition change, and having a strong risk management system, and as well capable of coping with problems faced either today or in the future. Based on the Financial and Managerial mentioned above, the Bank is at level 2, meaning the Bank is classified good dan capable of coping with the negative influence from economic and financial industry.
F. Material Ties for Capital Goods Investment All capital goods in the form of BSM owned and rented office, building/ premises in the area of Head Office and the office inventory available inside have been insured to PT Asuransi Taksaful and PT Staco Jasa Pratama. While capital goods in the form of owned and rented office/
PT Bank Syariah Mandiri Annual Report 2010
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Management Analysis on Company Performance
building/ premises By BSM in branch areas throughout Indonesia was insured to the Insurance Companies Consorsium consisting of PT Tugu Pratama Indonesia, PT Asuransi Jasa Indonesia (Jasindo), PT Asuransi Takaful, PT Adira dan PT Bumiputera. BSM insures all the capital goods to the posssibility for the loss risk as the result of firing, lightning, explosion, the fell off aircraft, destruction due to the smoke, RSMD, riots and natural disaster with coverage of Rp491,395,061,503 for the date that will end on 31 December 2010.
There is no corporate capital expenses which is tied with foreign currency denomination, so that the company did not necessary to perform value protection on certain currency.
BSM Head Office area also insured the vehicles to any possible loss risk of accident, theft, and crime to PT Takaful and PT Staco Jasa Pratama with coverage of respectively Rp7,202,400,000 and Rp260,000,000.
G. Shared Income Calculation Method
The fund source to fulfil the corporate capital expense ties derived from the business income which is burdened proportionally in accordance with the ties age. Denomination on this ties using rupiah currency.
BSM management thinks that the total sum insured is enough to cover the possible loss risk and will review the sum insured by end of the agreement period.
The Bank will distribute the shared income to the fund owner. Sample of shared income caculation is as stated in the shared income distribution table below:
Shared Income Distribution for period of December 2010 n in Thausand (IDR)
Collection Type
Average Balance
Income
Fund Owner Portion
To share Nisbah 1. Simpanan Wadiah a. Bank
3,447,611,015 15,718,089
32,707,307 149,117
Sum of Bonus shared income 2,445,121 11,929
b. Non Bank
3,431,892,927
32,558,190
2,433,192
2. Tabungan Mudharabah
8,858,210,964
84,018,414
27,299,415
a. Bank
103,262,919
b. Non Bank
8,752,948,045
979,650 83,038,764
34.00% 31.70%
Indikasi Rate of Return
333,081 26,966,334
0.91% 0.85% 3.87% 3.70%
3. Deposito Mudharabah a. Bank
323,453,314
3,068,585 1,571,661
l 1 month
287,870,088
2,731,009
51.00%
1,392,814
5.81%
l 3 month
5,580,645
52,943
52.00%
27,531
5.92%
l 6 month
25,150,000
238,597
53.00%
126,456
6.03%
4,852,580
46,036
54.00%
24,860
6.15%
l 12 month
b Non Bank
14,422,699,226
l 1 month
10,440,888,404
99,052,167
51.56%
51,073,278
5.87%
l 3 month
2,112,621,203
20,042,328
53.30%
10,682,561
6.07%
l 6 month l 12 month
82
Total
PT Bank Syariah Mandiri Annual Report 2010
136,827,399 71,722,356
806,351,398
7,649,814
55.47%
4,243,355
6.31%
1,062,838,221
10,083,091
56.76%
5,723,162
6.46%
27,049,974,519
256,621,705 40.15% 103,038,553
H. Extraordinary and Uncommon Financial Information During the range of time 2009-2010, there was no substantial component on the Income dan Other Expenses that resulted in a sharp fluctuation, either increment or decrease, other than as stated in the Corporate KAP report as the attachment.
I. Substantial Components from Income and Other Expenses During the range of time 2009-2010, there was no substantial component on the Income dan Other Expenses that resulted in a sharp fluctuation, either increment or decrease, other than as stated in the Corporate KAP report as the attachment.
M. Company Business Prospect Indonesia macro and micro economic: 1. Indonesia economic growth in 2010 grew higher than the economic growth in 2009 2. Domestic economic growth got better among others resulted from domestic interest rate decrease. 3. The recovered banking sector from the impact of glabal crisis as seen at: a. The increasing intermediation fuction b. The decreasing credit risk, reflected from the increasing credit growth and the decreasing Absolute NPL. 4. The Sharia banking grew among others shown by the increasing asset market share (from 2.61% to 3.24%) and the newly established Sharia General Banks (from 6 to 11 banks).
J. Materiality of Increment in Operating Income
Bank Indonesia projected the national economic performance in general in 2011 is predicted remain higher than the succeeding year. It is mosly supported by the private consumer growth which is relatively strong and export performance.
In 2010, the greatest increment in nominal was earned from Fund Management Income by the Bank as Mudharib from sale and purchase amounting of Rp2.77 trillion or 83.01% out of total Operating Income in 2010, while non-operating business which is another Key Operating Income amounted of Rp566.54 billion or 16.99% out of the total Operating Income 2010.
With the development, Bank Indonesia predicts the growth of national economic in 2011 can reach at 6.0 – 6.5. However, there are some aspects to be concerned in the process of global economic recovery, mostly that happens in Indonesia trade partner countries and as well as the the speed economic recovery in the United States.
Macro Economic Conditions
K. Price Change Impact on Operating Income or BSM Net Profit and as well as the Company Operating Profit in the last 2 Years
Indicators
2009
Economic Growth (y-o-y)
4.5%
6.1%
Exchange Rates IDR/USD
9.400
8.991
Inflation
2.78%
6.96%
BI Rate
6.50%
6.50%
In 2010, there was no significant impact from price change to operating income or BSM net income and as well as the company net profit in the last 2 years, other than as stated in the Corporate KAP report.
Micro Economic Conditions
Indikator
L. Information Existing after The Balance Date There was no information or material fact that has existed after the balance date which influenced BSM, other than as stated in the Corporate KAP report as the attachment.
2010
2009
2010
LDR of Conventional Bank
72.88%
75.21%
Interest rate of working capital loan
13.69%
12.83%
Interest rate of consumer loans
16.42%
14.53%
9.96%
22.80%
Rp47.54 T
Rp45.24 T
Credit Growth NPL absolut NPL Ratio
4.70%
2.56%
NPF BUS dan UUS
4.01%
3.02%
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Management Analysis on Company Performance
The conducive national economic condition is expected to give positive influence to national banking industry performance. BI projects the banking performance in 2011: assets, credit and third party fund, will be higher compared with performance of the succeeding year. Optimism of the positive trend which is projected at national economic and banking industry according to BI will also give impact to Sharia banking industry. The Sharia banking industry is expected to be able to maintain the high level growth in 2011 .BI projects that Sharia banking growth in 2011 can reach 35% (pesimistic scenario) – 55% (optimistic). The optimistic Sharia banking gowth is expected to be supported by various sectors among others covering: 1. The new players The existence of the new players will stimulate a higher competition in Sharia banking industry. This condition will accelerate the old players to maintain their market share with higher efforts.
N. Marketing Aspect
2. The more condusive macro economic condition The macro economic condition in 2011 which is more condusive, it is predicted to be a stimulating factor of Sharia banking industry growth.
In order to increase the customer number augmentation by providing the best service, supported by innovation development of Sharia banking products. BSM also implements the product marketing strategy and corporate to extend BSM market, so that it will strengthen its position in Sharia banking system.
3. The more structured market development program The better Sharia banking industry socilization program will stimulate the level people acceptance to Sharia baning service will increase with wider demographic scale.
BSM office network up to the end of 2010 reached 507 outlets spreading in 33 provinces of Indonesia Office Networks Growth
4. HR quality improvement The fulfilment of the well quality human resource and with enough quantity will significantly influence the Sharia baning asset growth in 2011 5. The stronger authority support The goverment accepts the development of finance and Sharia banking as part of the integrated government program To face the competion and use any opportunity optimally in 2011, BSM has enhanced its business capability by expawning business network, recruit new employees, add capital dan upgrade IT infrastructure by changing the Core Banking System. With the quality development, it is expected BSM to maintain even increase its market segment in Sharia banking.
507 363 300 269 211 167
2005 2006 2007 2008 2009 2010
n in Unit
In supporting the success of BSM product marketing to optimize the customer service, BSM paid attention to the office network growth aspects in servicing the customers. The new office opening and office status change in 2010 as stated in the table below.
84
PT Bank Syariah Mandiri Annual Report 2010
Total Office Networks
Office Networks 2009 2010 Branch Offices
New Office 2010
Up Status 2010
61
115
28
26 KCP
107
254
102
71 KK
Cash Offices a. Cash Offices 95 30 b. Sharia Services Offices 49 52
5 4
-
Sub - Branch Offices
Cash Services Activities a. Payment Point 51 56 5 Total Office Networks
363
507
144
97
n inUnit
BSM has implemented the corporate communication policy in socilizing and promoting the products to the people through some media, among others: 1. BSM Webside 2. Printed and electronic advertisements 3. Events 4. Facebook, twitter dan other social networks 5. Sponsorship
P. Earning Realization and Fund Use Resulting from Public Offering As of 31 December 2010, BSM had earned fund resulting from public offering through the issuance of bonds.
Q. Material Information regarding Expansion, Divestment, Acquisition and Restructuring As of 31 December 2010, BSM had never not conducted expansion, divestment, acquizsition and restructuring that impacted to BSM structure.
R. Information Material Containing Conflict of Interest In 2010, there were information material containing the conflict of interest in material transaction with affiliated parties. All transaction and the significant balance with the parties having special relationship, either being conducted or not being conducted with the price and normal condition as being conducted with third parties, stated in the notes on the financial statement.
O. Devidend Policy In accordance with decree of Shareholder General Meeting and in order to increase the bank capital structure, BSM did not not distribute devidend to the shareholders.
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Management Analysis on Company Performance
Transactions with Related Parties
9. UG BDN: building usage
In its efforts, the Bank conducted transactions with parties having special relationship as defined in Financial Accounting Standard Statement (PSAK) No. 7 regarding” Third Parties having Special Relationship Expositition”
10. Bank Sinar Harapan Bali: Western Union sub-agent, pawn service
All transactions and significant balances with parties having special relationship, either being conducted or not being conducted with normal price and condition as being conducted with third parties, stated in the notes on financial statement.
S. The Influence of The Law Regulations to the Company
Transsaction between the Bank with State/ Other Municipals Owned Enterprises and other institutions in relation with Indonesia Goverment and emplyees, except the board of commissioners, directors, and key employees was not counted as transactions ith parties having special relationship based on PSAK NO. 7 “Parties Having Special Relationship Exposure” In its efforts, the Bank conducted investment with parties having special relationship. PT Bank Mandiri (Persero) Tbk is the shareholder of BSM, PT AXA Mandiri Financial Services, PT Bank Sinar Harapan Bali, PT Usaha Gedung Bank Dagang Negara, and Mandiri Tunas Finance, Key Persons are people having special relationship and responsibility as stipulated in PSAK No. 7 regarding “Parties Having Special relationship Exposition” On 31 December 2010, the Bank had building rental agreement with PT Usaha Gedung Bank Dagang Negara (PTUGBDN) with rental expenses amounting of Rp12,809,078,802.
BSM Cooperation in Mandiri Group Circle BSM Mandiri conducted cooperation with Bank Mandiri or Bank Mandiri Subsidiaries among others as follows: 1. Bank Mandiri-Risk Management: BSM employee apprenticeship at Bank Mandiri, risks tool management development and etc. 2. Bank Mandiri-Audit: risk based audit, auditor apprenticeship 3. Bank Mandiri-Card Center: ATM Mandiri Usage 4. Bank Mandiri-Network: Sharia Service Counter 5. Bank Mandiri-Asset Management: Inbreng dan branch model 6. Bank Mandiri-Corporate Secretary: Corporate Identity 7. AXA Mandiri: Sharia AXA service counter at BSM outlet 8. Mandiri Securities: sukuk offering, workshop
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PT Bank Syariah Mandiri Annual Report 2010
11. Mandiri Tunas Finance: Sharia financing product cooperation
On 15 October 2010, the Government has issued Bills No.42 year 2009 regarding the Third amendment on Bills No 8 year 1983 regarding Value Added Tax on Material and Service and sales tax on Deluxe Goods which is effective on 1 April 2010. The Bills emphasizes that financing service based on Sharia is classified as service which is non-taxable VAT. In 2010, The Goverment issued Republic Indonesia Bills No. 2 Year 2010 regarding the amendment on Bills No 47 year 2009 regarding State Income and Expenses Budget which is effective on 25 May 2010 that on chapter 3 article 2 point b and its exposition paragraph stated about PPN Impact on some Sharia bank transaction borne by Goverment. Based on the exposition paragraph of chapter 3 article 2, the total PPN borne by The Government amounted of Rp25.54 billion from total SKPBP and STP received by the Bank amounted of Rp37.65 billion. The Management believes that the difference between total VAT borned by Government and total SKPKB and STP received by the Bank will not be billed to the Bank in regarding the intent and purpose of the bills.
T. Accounting Policy Amendment Indonesia Institute of Accountants (IAI) amended on Accounting Standards among others: the revocation ofPSAK No 31 (revision 2000) regarding”Banking Accountant” which is effective on 2 January 2010. Regarding the mentioned matter, BSM is evaluating the impact of Standard, Interpretation and Standard revocation or the Revised Standards to its financial statement. The cash flow statement is arranged based on direct method which is modified in presenting the cash reception and expenditure and cash equivalents which is classified into Operating activities, investment. and the funding. To present the Cash Flow Statement, Cash and cash equivalents, current accounts at other bank, issued at Bank Indonesia and other banks which is due within 3 months or less than the reception date, Sharia Bank Indonesia Certificates and Sharia Bank Indonesia Saving Facility which is due within 3 monts or less since its reception date. Before 1 Janury 2010, cash and cash equivalents for cash flow statement purpose consists of cash, curent account at Bank Indonesia and current account at other banks. The amendment related with the revocation
of PSAK No 31 regarding”Banking Accounting” which is effective on 1 January 2010. For the comparison purpose with the annual cash flow statement which is due on 31 December 2010, so The Cash Flow Statement for the fiscal year due on 31 December 2009 also conducted the adjustment/ reclassification (Note 50)
U. The Company Preparation in PSAK Convergency to International Fianancial Reporting Standard (IFRS) The Bank regarding the PSAK convergency to IFRS has mapped accounting standard affected by the convergency for not regulated specifically by Sharia PSAK and along no contradict with Sharia Principle
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Good Corporate Governance
good corporate governance
The implementation of Good Corporate Governance (GCG) is a long term process which in the end results in sustainable value. Actualizing GCG as a system is done through an internal process which involves the Board of Comissioners, Board of Directors, Shariah Supervisory Board and all employees.
A. Introduction To be in line with GCG principles, BSM is continuously striving to help create a culture that upholds professionalism, integrity, service quality and prudential banking. The culture is applied through internalization process in the systems and procedures and establishment of appropriate behaviour. With this approach, BSM’s culture is not only stated in its Code of Conduct and policy but also internalized by its Board of Commissioners, Shariah Supervisory Board, Board of Directors and daily employees. The implementation of GCG is a long term process which results in sustainable value. The actualization of GCG in BSM is conducted in all organizational levels by complying with the stipulations and requirements on GCG implementation for shariah banks. In accordance with Bank of Indonesia’s decree on the implementation of GCG in Shariah Conventional Banks (BUS) No. 11/33/PBI/2009, it’s realized in: I. he implementation of duties and responsibilities of Boards of Commissioners and Directors II. IThe completion and implementation of duties and functions of the committees controlling internal BSM III. The implementation of duties and responsibilities of Shariah Supervisory Board IV. The application of compliance, internal audit, and external audit functions V. Maximum limit of fund channeling VI. Transparency in BSM’s financial and non-financial conditions The implementation of GCG in BSM has been continuously optimized through infrastructure strengthening to achieve the best practice, and system and procedure adaptation needed to support more effective GCG implementation.
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The actualization of GCG in BSM is reflected in the following results: I. Annual Report Award (ARA) 2009 in the category of Non Listed Financial Private Enterprise. This award proves that BSM is committed to applying GCG principles. II. The Best CEO 2010 from SWA magazine for BSM’s President Director in the assessment criteria relating to pioneering, harmonizing and empowering functions as well as to being a role model and having leadership quality.
A form of BSM’s commitment to GCG is the implementation of periodic Self-Assessment referring to the parameters issued by Bank Indonesia or internally developed. The increasing Composite grades from time to time is a testament to the continuous improvement in the sustainable implementation of GCG.
B. General Conclusion of Bank’s Self Assessment of GCG The implementation of GCG in BSM starts from the parties who are most influential in setting the company’s strategy: the Shareholders, Board of Commissioners, Directors and Shariah Supervisors. The periodic GCG self-assessment is based on the criteria issued by Bank of Indonesia or self-developed, which becomes a benchmark for assessing the GCG implementation in BSM.
I. Internal Self-Assessment The result of BSM’s internal Self Assessment (SA) in 2010 increased as seen in the measurement on the Board of Commissioners, Directors, Shariah Supervisors and other Executive Officers, in a form of GCG semester index. BSM’s GCG index in the 2nd semester reached 90,67 with the category of ‘Better’, an increase compared with 87,20 in the 1st semester, in the category of ‘Good’.
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Assessment Aspect Value 1st sem. 2nd sem. score score Governance Structure Implementation
35% 30,76
31,42
Corporate Governance Policy
20% 18,18
19,17
Corporate Governance Disclosure
25% 20,83
22,42
Internal Control System 20% 17,43 Total Score 100% 87,20 B
17,66 90,67 LB
II. GCG Self-Assessment by Bank of Indonesia GCG Self-Assessment is conducted by complying with the Circular of Bank of Indonesia No. 12/13/DPbS dated 30 April 2010. The self assessment parameters are as follows:
No. Factor
Rank (a)
Value (b)
Score (a) X (b)
1 Implementation of duties and responsibilities of the Board of Commissioners 1 12,50% 0,125 2 Implementation of duties and responsibilities of the Board of Directors 1 17,50% 0,175 3 Completion and implementation of Committee’s duties 2 10,00% 0,200 4 Implementation of duties and responsibilities of the Shariah Supervisory Board 2 10,00% 0,200 5 Implementation of shariah principles in fund raising and service activities 1 5,00% 0,050 6 Handling conflicts of interest 1 10,00% 0,100 7
Implementation of Bank’s compliance function
1
5,00%
0,050
8 Implementation of internal audit function 1 5,00% 0,050 9 Implementation of external audit function 1 5,00% 0,050 10 Maximum Limit of Fund Channeling 1 5,00% 0,050 11 Transparency in BSM’s financial and non financial conditions, report of GCG implementation and internal report 2 15,00% 0,300 Composite Score
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PT Bank Syariah Mandiri Annual Report 2010
100,00%
1,350
The Force in GCG Implementation
The implementation of duties and responsibilities of the BOC has been conducted effectively and has fulfilled the GCG principles. The transparency aspect in the members of BOC can be seen in its absence in infringing the prevailing regulations and its capability in making independent decisions. The BOD has implemented the GCG in its business activities of all organizational levels. The Bank’s management is conducted based on prudent and shariah principles. The BOD has followed up its audit findings and/or recommendations from Bank of Indonesia, internal auditor , Shariah Supervisory Board, and /or external auditor. The Committees have carried out their duties effectively. Their meetings are in accordance with internal guidance and their recommendations can be considered in the Board’s decision. The Shariah Supervisory Board (SSB) has carried out its duties effectively. There are some issues needing attention, including the election of SSB Chairman in 2011 and the interaction between SSB and regional operational officers in supporting its duties. Generally, BSM products, such as funding and other bank services, have been in accordance with fund channeling and DSN-MUI fatwas and Bank of Indonesia’s stipulations. While in general, the audit findings have aimed not at the products but at the difference in opinions or comprehension on a transaction. In fact, the audit findings have been solved with action plans according to the directives of Bank of Indonesia and Shariah Supervisory Board. BSM has policy and regulation on conflicts of interest and avoids matters causing them in the bank’s operational process and decision. BSM has fulfilled its compliance function by referring to Bank of Indonesia’s regulation concerning the existence of a Director of Compliance and a Work Unit of Compliance.
BSM has implemented the internal audit function effectively by doing audit process, that is by assessing the compliance of Bank’s operational with the regulations and /or conditions that may cause risks to the Bank (risk-based audit). BSM’s internal audit has been supported by competent personnel. Internal audit helps the President Director to supervise, examine and evaluate the adequacy and effectiveness of bank’s internal control system. The Audit Report is conveyed to the President Director with a copy to the Director of Compliance. Every finding related to shariah principles is reported periodically to the Shariah Supervisory Board. The assigned KAP was Purwantono, Suherman & Surja, affiliated with KAP Ernst & Young. This designation was a result of a selection process done by Accounting Division, Audit Committee, Boards of Directors and Commissioners before filed to GMS. In the Public Accountant’s report there was SSB opinion that BSM has complied with the prevailing regulations. KAP has conveyed the management letter on time and worked professionally. BSM has implemented the principles of prudence and risk management in fund channeling to the related party and not done BMPD infringement
All information in BSM report (Financial and Non Financial) has been in accordance with prevailing transparency regulation and can be accessed through a homepage. BSM’s internal report has been supported with MIS & Datawarehouse application developed by the professionals in Division of Technology System. Very Good
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Good Corporate Governance
Composite Score
Composite Predicate
Composite Score < 1,5
Very Good
1,5 ≤ Composite Score < 2,5
Good
2,5 ≤ Composite Score < 3,5
Good Enough
3,5 ≤ Composite Score < 4,5
Less Than Good
4,5 ≤ Composite Score < 5
Not Good
C. GCG Policy
2. To develop mutual awareness in all levels of BSM about the importance of GCG and self-commitment to implement it;; 3. To achieve better decision-making process, operational efficiency and service to all stakeholders; 4. To support BSM’s growth in its image, to be ‘the great BSM for better Indonesia’; and 5. To create Indonesian bankers with strong integrity.
BSM has continued to perfect its GCG policy (soft-structure GCG) so that it’s in line with its need of business process and the regulation of GCG implementation for shariah banks.
E. GCG Mechanism
The BSM Code of Conduct is a guidance for all man in BSM to behave in an Islamic, professional and responsible way both when interacting with the customers and partners and when relating with other employees.
GMS makes decisions based on corporate interest, by taking note of the Articles of Association and prevailing rules and regulations. Management is conducted by the Board of Directors, while the Board of Commissioners supervise the performance of corporate management, and BSM Shariah Supervisory Board ensure that BSM products don’t infringe shariah principles.
The BSM’s GCG Charter is a regulation, principle and policy that must be complied with by all levels in BSM in terms of implementing GCG according to the stipulated standards. The Committees of Audit, Nomination, Remuneration and Risk Monitor refer to the Committee Charter in conducting their duties and responsibilities.
D. GCG Clinic Program In order that the Branch Managers all across Indonesia improve their comprehension on GCG, BSM socialize it through 2010 GCG Clinic Program. The factors behind this are as follows: 1. BI’s confirmation that BSM maintains and improves its quality in implementing Good Corporate Governance (GCG) that has been good since 2007.
F. GCG Structure In accordance with Bank of Indonesia’s Regulation No. 11/33/PBI/2009 on the implementation of GCG in Sharia Conventional Banks and Shariah Business Units, BSM’s GCG structure consists of the General Meeting of Shareholders (GMS), Board of Commissioners, Shariah Supervisory Board and Board of Directors.
GMS
SSB
2. The more creative program innovation to internalize BSM’s GCG principles, Code of Conduct and values. 3. The decrease in GCG implementation in some branch offices needs immediate improvement, that is to overcome the leader’s weakness in keeping corporate governance in operational activities
SUPERVISION
MANAGEMENT
4. The comprehension development in Branch Offices about the importance of GCG and the implementation of Code of Conduct in comprehensively supporting financial performance and operations. This GCG Clinic Program in BSM is expected to achieve the targets as follows: 1. To obtain better index score of GCG & Code of Conduct implementation in 2010 than in 2009 according to the regulation (BI and internal BSM) with a target score of 88.00;
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Every part of GCG structure is obliged to undertake its function according to the prevailing regulations and independency principles that each organ does its duty, function and responsibility only for BSM’s interest.
I. General Meeting of Shareholders (GMS)
II. Board of Commissioners
The General Meeting of Shareholders (GMS) has the authority which cannot be given to the BOD or BOC. GMS has the highest authority to elect and terminate a member of the Board of Commissioners, Shariah Supervisory Board, and Board of Directors, evaluate the performance of the Board of Commissioners, Shariah Supervisory Board, and Board of Directors, endorse the amendment of Articles of Association, approve the annual report, determine the allocation of profit, appoint public accountant, and set the number and sort of compensation and facilities for the management.
The Board of Commissioners is a corporate organ whose collective duties and responsibilities are to supervise and advise the BOD and to ensure that BSM performs the GCG in all organizational levels. The Board of Commissioners in conducting its duties is helped by the Committees of Audit, Risk Monitor, Remuneration and Nomination.
The shareholders have been noticed and invited to the GMS and EGMS in accordance with the prevailing regulation. BSM has its customs and manners in holding GMS where it has to enclose the GMS agenda in the invitation. 1. Annual General Meeting of Shareholders During 2010, BSM held 1 (one) GMS which was the Annual General Meeting of Shareholders (AGMS) on 29 June 2010. The meeting resulted in these stipulations: a. Approval on BSM Annual Report and Financial Report of fiscal year 2009, audited by Public Accountant Office Purwantono, Sarwoko and Sandjaja (Ernst & Young affiliate) with opnion “Qualified”. b. Approval on the Board of Commissioners Supervisory Report for the fiscal year lasting until 31 December 2009, and settlement and full discharge (volledig acquit et de charge) of the members of the Boards of Commissioners and Directors. c. Approval on the use of BSM Net Profit of 2009 fiscal year. d. Appointment of KAP Purwantono, Suherman dan Surja (Ernst & Young affiliate) to audit BSM Financial Report of 2010 fiscal year. e. Settlement of the amount of bonus, salary, and facility/ allowance for the BOC and BOD. f. Delegation of authority to determine the remuneration of BSM Shariah Supervisory Board (SSB) to the BOC with inputs from BSM President Director. g. Approval on zakat payment as much as 2,5% of 2009 net profit. 2. Extraordinary General Meeting of Shareholders (EGMS) EGMS was held on 29 June 2010, resulting in these stipulations: a. Approval on the appointment of Ramzi A. Zuhdi as a new member of BOC and the termination of Srie Sulistyowati as a Director, for her service period had ended. b. Approval on the appointment of Achmad Syamsudin as a new member of BOD c. Approval on the re-appointment of Amran Nasution, Zainal Fanani and Sugiharto as members of BOD.
The BOC has fulfilled the stipulation on Fit & Proper Test of Bank of Indonesia, Law on Limited Liability Company, and GCG . The Members of BOC may not own more than 5% (five percent) of shares, either individually or collectively, either in BSM or other banks and companies. The members of BOC may not take and/or receive personal benefits other than renumeration and facilities from the bank, determined by the GMS. All members of BOC have integrity, competence, and adequate financial reputation. Carrying out its duties, The BOC is responsible to the GMS. This responsibility represents supervisory accountability of corporate management in implementing GCG principles.
1. Duties and Responsibilities of the Board of Commissioners BSM’s Board of Commissioners’ duties and responsibilities referring to the Articles of Association and prevailing regulations are as follows: a. To ensure the continual implementation of GCG principles in every organizational level assisted by related work units. b. To supervise the implementation of BOD duties and responsibilities and the BOD policy, and to give advice to the BOD. c. To supervise BSM’s business risk and management’s effort to do internal control d. To give response and recommendation on BSM strategic development proposals and plans filed by the BOD. e. To ensure that the BOD pays attention to all shareholders interest. f. In the supervision, the Board of Commissioners direct, monitor and evaluate the implementation of BSM strategic policy. g. In the supervision, the Board of Commissioners are not to involve in the decision-making of BSM operational activities, except in providing fund for related parties as stated in the regulation of Bank of Indonesia regarding the Maximum Limit of Loan in Conventional Banks, and other issues stipulated in BSM’s Articles of Association or the prevailing regulations.
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h. To inform the Bank of Indonesia when infringement of financial and banking regulations is found, at least 7 (seven) days from when it is first found, and when there are conditions considered harmful to BSM’s business sustainability. i. To make and convey the responsibility report on BSM management supervision. j. To ensure that the Board of Directors follow up the audit findings of Bank’s internal audit work unit, external auditor, Bank of Indonesia’s and/or other authorities’ supervision.
2. The Board of Commissioners Independency The number, composition, criteria and independency of the Board of Commissioners members have been in line with the regulation of Bank of Indonesia No. 11/33/PBI/2009 regarding the Implementation of GCG in Shariah Conventional Banks and Shariah Business Units. Banks are obliged to have independent commissioners, i.e. commissioners who don’t have financial, organizational, share ownership and/or family relationships with the Controlling Shareholders, members of BOC and/or BOD or financial and/or share ownership relations with the Bank. In addition, the PBI has also stated that less than 50% (fifty percent) of the number of BOC members are Independent Commissioners. At the moment, the number of BSM’s BOC members is 5 (five) people. 3 of them or 60% of them are Independent Commissioners. All members of the Board of Commissioners don’t have family relations, to the second degree, to one another and/or to the members of the Board of Directors.
3. The Members of the Board of Commissioners Name Position EGMS Period Achmad Marzuki Abdillah Ramzi A. Zuhdi Tardi Lilis Kurniasih
94
President Commissioner 19 June 2008 First / Independent Commissioner/ 19 June 2008 First Independent Commissioner Independent 29 June 2010 First Commissioner Commissioner 19 June 2008 First Commissioner 19 June 2008 First
PT Bank Syariah Mandiri Annual Report 2010
Shareholder Representation Independen Independen Independen PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
4. The Board of Commissioners Supervision and Recommendation In conducting its supervisory and advisory functions, the Board of Commissioners has various activities and gives written inputs or recommendations to the Board of Directors. The BOC is assisted by the Committees of Audit, Risk Monitor, Renumeration and Numeration, in order to perform its functions and duties effectively. During 2010, the Board of Commissioners conducted its supervision on bank’s performance, risk profile, bank’s financial health, risk management policy, follow-up to internal/external audit, human capital, NPF handling. Information technology, GCG implementation, internal control system implementation, KYC and AML implementation, and so on. Based on its supervision on the bank’s performance, implementation of work program, and in order to support the bank’s sustainable growth, the Board of Commissioners has recommended several things that need the management’s continuous attention: a. Disbursing the funds into productive assets with low ATMR value. b. Increasing fund expansion by focusing on SME segment more carefully c. Searching for new customers through determining targeted customers based on excellent economy sector. d. Intensifying monitoring and early detecting by mapping and watch list over the current loan customers potential for decrease in their collectibility. e. Increasing the intensity in monitoring over the NPF customers by focusing on the settlement of absolute value and ensuring that the decrease in collectibility doesn’t occur to existing loans. f. Increasing the quality of HR in loan division especially the ones directly involved in loan process.
g. Increasing the functions of supervision and procedure compliance, the order of loan administration, and the effective internal control on loan process. h. Controlling overhead by maintaining budgetary discipline and efficiency in all activities, by not reducing the bank’s quality in service and operations. i. Performing intensive and extensive fee-based income especially from remmitance, trade, e-banking, and so on. j. Increasing all employees’ comprehension of risk and internal control.
5. The Board of Commissioners Meetings The Board of Commissioners meeting is held once a month. The meeting can be an internal meeting of the Board of Commissioners, joint meeting with the Board of Directors, or Director of Division. The presence list of the BOC Meeting is as follows: Name Rakom Rakomdir Radirkom * ** ***
(14 Times)
(4 Times)
(16 Times)
13
4
15
Achmad Marzuki
Abdillah 14 4 16 Ramzi A. Zuhdi
8
1
9
Tardi
12 3 13
Lilis Kurniasih
13
3
12
6. Multi Positions of the Board of Commissioners There are no members of the Board of Commissioners who hold multiple position as members of the BOC, BOD, or Executive Officers in 1 (one) financial agency/company, or members of the BOC, BOD, or Executive Officers who conduct supervisory function in 1 (one) nonbank subsidiary controlled by the Bank.
7. Remuneration Policy of the Board of Commissioners Remuneration and the provision of other facilities refer to the shareholders’ stipulation as stated in the general meeting of shareholders by noticing the inputs given by Remuneration and Nomination Committee. The process of remuneration is based on a study done by the Remuneration and Nomination Committee as stated in the Mutual Agreement between the BOD and BOC No. 9/004-SKB/KOM-DIR regarding the Work Guidelines and Order of the Remuneration and Nomination Committee of PT Bank Syariah Mandiri, that in evaluating remuneration policy the Committee is obliged to notice the following: 1. Financial performance and reserve fulfillment as stated in the prevailing regulations, 2. Individual work achievement, 3. Fairness with the peer group, and 4. Consideration in Bank’s long-term objectives and strategies. The study is conveyed to the Board of Commissioners with recommendations, and then to the GMS to get validation.
Description: * **
Rakom is an internal meeting of the Board of Commissioners Rakomdir is a meeting where the initiative comes from the BOC, who invites the BOD or Director of Division *** Radirkom is a meeting where the initiative comes from the BOD, who invites the BOC
During 2010 the total of remuneration paid to the Board of Commissioners and consisting of salaries and other compensation (bonuses not included) amounted to Rp 4,03 trillion, an increase compared to Rp 3,48 trillion in 2009.
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ype of remuneration T and other facilities
The amount received in 1 (one) year (Board of Commissioners)
People
IDR
Salary Rp/Year
5
Rp 1.765 billion
Allowance Rp/Year
5
Rp 2.261 billion
Total
Rp 4.026 billion
8. Training for the Board of Commissioners During 2010, BSM’s Board of Commissioners undertook some seminars to support the implementation of their duties and increase their competence. The seminars are on Risk Management in Retail Banking, the Controversy over Fee Conferment on Bank Customers, Senior Management Risk Summit 2010, Leadership for Sustainable Risk Management Framework.
9. Secretary for the Board of Commissioners The Secretary for the Board of Commissioners is Teddy Hidayat, born on 26 August 1969. A graduate of the Bogor Agricultural Institute in 1992, majoring in Aquaculture of the Faculty of Fisheries, and obtained a magister degree in management from the Faculty of Economy in the University of Indonesia in 2004. Duties and responsibilities of the Secretary for the Board of Commissioners: a. To ensure that Rakom, Rakomdir, and radirkom are attended. b. To ensure that the decision of Rakom is distributed to all members of the BOC. c. To ensure that the results from Rakom and Rakomdir are monitored by all members of the BOC d. To report to bank’s internal and external parties as a part of the board of Commissioners duties and responsibilities e. To encourage the BOC and Committees under it in the implementation of GCG according to the prevailing regulations. f. To give suggestions on problems related to the BOC findings in its conduct of supervisory duties, authorities, and responsibilities over the Board of Directors and the Bank.
III. Board of Directors The Board of Directors represents the company’s organ fully responsible for BSM management, interest, and goals, in accordance with its Articles of Association. In carrying out its duties, the Board of Directors is responsible to the GMS. This responsibility is a form of corporate management accountability, in accordance with GCG principles. The performance
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of BOD is evaluated by the Board of Commissioners, individually and collectively, based on the criteria arranged by the Committee of Remuneration and Numeration. The assessment is conducted at the end of every fiscal period. The assessment result is conveyed in the GMS.
1. Duties and responsibilities of the Board of Directors In conducting its duties and responsibilities, the Board of Directors has always referred to the Articles of Association, internal stipulations, and the prevailing regulations. The Board of Directors takes full responsibility of BSM management, in accordance with prudent and shariah principles. The Board of Directors has formed Work Unit of Internal Audit (SKAI), Work Unit of Risk Management, Committee of Risk Management and Division of Compliance. The Board of Directors has followed up the audit findings and recommendations from the supervision of Bank of Indonesia, internal auditor, Shariah Supervisory Board and/or external auditor. The Board of Directors reveals BSM’s strategic policies in its staffing issue to its employees through accessible media such as News Letters, SMS, intranet, internal magazines, and other communication media. Duties and responsibilities of the Board of Directors are as follows: a. To manage BSM according to its authority and responsibility as stated in the Articles of Association, prevailing regulations, and GCG principles b. To formulate BSM’s vision, mission and values as well as strategic plans in the form of Corporate Plan and Business Plan c. To determine an organizational structure completed with detailed duties of each division d. To control BSM’s resources effectively and efficiently
e. To create a system of internal control and risk management, to guarantee the implementation of company’s internal audit function in every level of management and follow up the findings of BSM’s Internal Control Division in accordance with the policy or directive given by the Board of Commissioners. f. To notice a fair interest of BSM’s stakeholders
The Division of Duties among the Directors
2. The Composition of the Board of Directors All members of the Board of Directors reside in Indonesia. The Board of Directors of BSM have fulfilled the fit & proper test from Bank of Indonesia, the Law of Limited Liability Company, and the stipulations of GCG. All members of the Board of Directors don’t hold multi positions in the Boards of Commissioners and Directors, or Executive Officers in the Bank or other companies.
Name
Position
EGMS
Period
Yuslam Fauzi
President
22 June 2005
First
Director
19 June 2008
Second
Hanawijaya
Director
22 June 2005
First
19 June 2008
Second
Srie Sulistyowati
Director
19 June 2007
First
Amran P. Nasution
Director
19 June 2007
First
29 June 2010
Second
Zainal Fanani
19 June 2007
First
29 June 2010
Second
Sugiharto
Director
19 June 2008
First
Achmad Syamsudin
Director
29 June 2010
First
Director
The Board of Directors doesn’t delegate its general authority to other parties, which may cause transfer of duties and functions of the BOD. The Letter of Authority from the BOD to the Head of Work Unit aims at facilitating the implementation of Bank’s operational duties and not causing transfer of duties and functions of the BOD.
According to the Circular No. 12/002/INF and the Stipulation No. 12/300-KEP/DIR dated 22 July 2010, the division of Duties among the Directors is as follows: President Director a. To conduct the vision of BSM by setting its strategy and policy b. To evaluate periodically the target realization and determine the steps to increase improvement c. To coordinate the work activities of all members of the Board of Directors and EVP and the officers under them to achieve optimum result d. To hold activities in Internal Audit Division and Risk Management Committee in order to achieve the determined work plans e. To create harmonious relationship between the Board of Commissioners, the Board of Directors, Shareholders, Employees, Customers, and the Government/Bank of Indonesia in order to create good corporate governance f. To hold Risk Management in BSM in accordance with the determined policy g. To coordinate the development in all Heads of Divisions/Units/ Teamwork and Branches h. To build good relationship with all partners of BSM so as to give mutual benefit to both parties.
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Director of Corporate and Treasury Finance a. To establish strategy and policy in managing corporate and treasury finance within the syariah principle, including other subsidiary policies related to this task. b. To lead and coordinate all work units in the Directorate of Corporate and Treasury Finance consists of Corporate & Investment Finance, Corporate Branch Finance, Special and Syndicated Finance, Treasury and International Banking compatible with the goal established in the annual work plan while still kept a precaution principle. Director of Small Micro Finance a. To establish strategy and policy in managing micro and small finance within the syariah principle, including other subsidiary policies related to this task. b. To lead and coordinate all work units in the Directorate of MicroSmall Finance consists of Small Finance, Micro and Program Finance, Consumer Finance, Pawn Company, Mass Banking and Development of Business and Product in conducting financing activities in accordance with the goal established in the annual work plan while keeping a precaution principle. Director of Secondary Finance a. To establish strategy and policy in the Directorate of Secondary Finance within the syariah principle, including other subsidiary policies related to this task. b. To lead and coordinate all work units in the Directorate of Secondary Finance consists of Commercial Finance, Restructuring, the Finishing of Finance, the Relations between Corporate & Law and Facillities & Logistic in accordance with the goal established in the annual work plan while keeping a precaution principle. Director of Compliance a. To establish strategy and policy that is compatible with the company’s vision by conducting BSM strategy and policy in areas of Compliance, Network, Human Capital, Training and Planning, Development and Performance Management.
b. To lead and coordinate the establishment of required steps in areas of Compliance, Network, Human Capital, Training and Planning, Development and Performance Management to ensure that BSM has complied with all the rules in order to uphold the precaution principle. Director of Risk Management a. To establish strategy and policy compatible with the company’s vision by conducting BSM strategy and policy in areas of Risk Management, System & Technology, Operations, Accountancy and Procedural System & Supervision. b. To evaluate the development of bank in areas of Risk Management, System & Technology, Operations, Accountancy and Procedural System & Supervision and to formulate required policies.
3. Director Meeting Director Meeting is held at least 1 (once) a week on Monday, but it can also held on a time outside of that fixed schedule. List of attendance of Director Meeting in 2010 can be seen on the following table:
Name of Officer
Period of Januari - Juni 2010
Period Juli - Desember 2010
Director Meeting (32 times)
BOC Meeting (7 timesi)
Director Meeting (28 times)
BOC Meeting (9 times)
25
6
25
8
Yuslam Fauzi (President Director)
Hanawijaya (Director) 25 7 21 7 Srie Sulistyowati (Director)
27
7
Amran P. Nasution (Director)
24
6
23
8
Zainal Fanani (Director)
26
7
25
8
Sugiharto (Director)
24 6 24 8
Achmad Syamsudin (Director)
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24
8
4. Remuneration Policy for the Directors
5. Training for Directors
Total remuneration paid to Board of Directors during the year 2010 include salary and other compensation (not include bonus) amounted to Rp15.88 billion increase in 2009 compared to Rp11.15 billion. Determination process of BoD remuneration similar to that described in the remuneration policy of the Board of Commissioners.
To improve competence and to support task performance of BSM Directors, during the year 2010 members of the BSM Board of Directors have participated in various training programs, workshops, conferences,seminars namely: a. Seminar titled “Why Indonesia’s economy will fly as High as an Eagle in the Next Decades” b. Risk Management Workshop (New York) c. 6th World Islamic Economic Forum (WIEF) Seminar – Malaysia d. Temenos Community Forum – Berlin e. Coaching For Excellence f. Risk Management Sertification Level 2 g. Syariah Banking Year End Seminar of 2010 – Bank Indonesia, Jakarta h. English Course i. Perspectives for Banking Crime Prevention and Response Intervention j. Seminar on Strengthening Bank Management in the Framework of Achieving A Healthy Banking System
Remuneration and Other Facilities
Total Remuneration in 1 (one) Tear (BoD) Person
Rp
Salary Rp/Year
6
Rp5,848 billion
Tunjangan Rp/Year
6
Rp10,034 billion
Total Rp15.882 billion
Amount of remuneration per person in one year is as follows: Total Remuneration per Person in 1 year*) Rp2 billion Up
Total BoD
Total BoC
IV. Audit Committee
6
Rp1 billion - Rp2 billion
4
Rp500 million - Rp1 billion
1
Rp500 million down
Meanwhile the highest and lowest ratio for salary are as follows: No. Description
Ratio
1.
Highest and lowest ratio for Employees salary
2.
Highest and lowest ratio for Director salary
1,11
3.
Highest and lowest ratio for Commissioner salary
1,11
4.
Ratio of Director & Employee highest salary
4,77
5.
Director highest salary & Employee lowest salary Ratio
In order to achieve a good corporate governance, on 1 April 2005, BSM has established an Audit Committee assigned to assist the Board of Commissioners in referring to Bank Indonesia Regulation No.11/33/ PBI/2009 dated 7 December 2009 regarding implementation of Good Corporate Governance for Syariah Banks and Syariah Business Unit. Audit Committee has been equipped with the Audit Committee Charter as a working guideline and reference implementation of the duties of the Audit Committee.
16,37
78,16
PT Bank Syariah Mandiri Annual Report 2010
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Good Corporate Governance
1. Duties and Responsibilities of the Audit Committee Duties and responsibilities of the BSM Audit Committee are compatible with the Bank Indonesia Regulation No. 11/33/PBI/2009 regarding GCG for Syariah General Banking and Syariah Business Unit, namely: a. o evaluate the implementation of internal audit in order to assess the adequacy of internal controls including the adequacy of the financial reporting process and to coordinate with the Office of the Public Accountant in the framework of effective implementation of external audit. b. In order to implement this task, the Audit Committee more or less conducting evaluation toward: 1) Task implementation performed by internal audit function; 2) Follow-up implementation by Directors on findings and/or recommendations from the supervision results by the Bank Indonesia, internal auditor, the Syariah Board of Supervisors and/or external auditor as a recommendation for the Board of Commissioners. c. Provide recommendations regarding the appointment of Public Accountant and the Public Accountant Office to the Board of Commissioners
2. Composition of Audit Committee Members The composition of the BSM Audit Committee was determined based on requirements stipulated in Bank Indonesia Regulation No.11/33/PBI/2009 dated 7 December 2009 regarding the Implementation of GCG for Syariah Banks and Syariah Business Unit, which at least consists of: a. An independent commissioner acting as Chairman, b. An Independent Party with expertise in financial accounting, and c. An Independent Party with expertise in syariah banking. As of 30 September 2010, Audit Committee BSM personnel amounted 3 people, consisting of a one Chairman who led by an independent commissioner and two members from independent parties outside of BSM, as follows:
Name
Position
Abdillah
Independent Commissioner
Kasmadi Adrianto
Member, Independent
Tjeppy Kustiwa
AMember, Independent
Based on the results of BOD meeting No.12/008/RAKOM dated August 2, 2010, since date of October 1, 2010 conducted the addition of Audit Committee member of Sdr. Ramzi A. Zuhdi, Independent Commissioner, so that the composition of the Audit Committee Member by October 1, 2010 amounted to 4 people, as follows:
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PT Bank Syariah Mandiri Annual Report 2010
Name
Position
Abdillah
Independent Commissioner
Ramzi A. Zuhdi
Member, Independent Commisioner
Kasmadi Adrianto
Member, Independent Commisioner
Tjeppy Kustiwa
Member, Independent Commisioner
Profile of Audit Committee Members: a. Abdillah (Chairman) Profile can be seen on Board of Comissioners section b. Ramzi A. Zuhdi Profile can be seen on Board of Comissioners section c. Kasmadi Adrianto (Member) Born in Metro, Lampung, 6 November 1947. Bachelor in Administration from Diponegoro University, Semarang. Career in the Bank Indonesia from 1978-2003 with assignments primarily in the field of internal audit and supervision / inspection of commercial banks, with the last position of Deputy Director for Bank Inspection I. Experienced in training abroad, among others, in Hyderabad (India), Washington DC, Paris, Frankfurt and Sydney. In 2004 as part of a team composing Working Guideline Handbook for Board of Commissioners of Regional Development Bank, Indonesian Banking Development Institute (LPPI). Currently serves as a member of the Audit Committee of BSM. d. Tjeppy Kustiwa (Anggota) Born in Bandung on December 17, 1957. Graduates of the Accounting Department of Economics Faculty of Padjadjaran University in Bandung in 1985 and Master of Management from Universitas Gadjah Mada in Yogyakarta in 1994. Experienced participated in various trainings and seminars, among others in fields related to the duties of the Audit Committee, Accounting, Banking, Financial Restructuring and Go Public Procedure, Consilidation Financial Report and Information Technology. He started his career at Bank Bumi Daya 1986 to 2000, worked in the Strategic Prasetio-Andersen Consulting, Ernst & Young Advisory Services, a member of the Audit Committee of PT Bank Rakyat Indonesia and currently as a member of the Audit Committee of the BSM.
3. The Independence of Committee Member All members of the Audit Committee are from independent parties, have no financial, management, ownership and / or family relationship with the controlling shareholders, members of the Board of Commissioners and / or members of the Board of Directors; or financial relationship and / or relationship with the Bank shareholding, which may affect the ability to act independently.
4. Dual Position of Committee Member a. No Directors of BSM and other banks that are members of the Audit Committee b. Chairman of Audit Committee doubled as member of Risk Monitoring Committee and Remuneration and Nomination Committee.
5. Work Report of the Audit Committee During 2010, BSM Audit Committee has conducted an evaluation of the internal audit report which includes regular audits and special audits and audit reports by the Public Accountant. These reviews are accompanied by suggestions / recommendations wch have been submitted entirely to the Board of Commissioners. In addition, the Audit Committee also has submitted an annual report on the implementation of their tasks and responsibilities to the Board of Commissioners and perform other tasks in order to help implement the tasks of the Board of Commissioners. Activities of the Audit Committee in 2010 took the form of meetings in order to follow the Board of Directors and Commissioners (RADIRKOM), Commissioner Meeting and Board of Directors (RAKOMDIR), Commissioner Meeting (RAKOM), discussion of the Audit Committee evaluation results, the Audit Committee meeting with units of work and results of other activities.
The activities of the Audit Committee in 2010, as follows: a. Reviewing the activities of Internal Audit Division in 2009. b. Assessing the financial statements of the Bank publication of 2009 Fourth Quarter, Second Quarter and Third Quarter of 2010. c. Assessing the Obligation to Submit Report of Audit Activities to the Board of Commissioners. d. Review the annual report for Fiscal Year 2009 BSM. e. Make recommendations to re-appoint KAP Purwantono, Sarwoko and Sandjaja (Ernst & Young) as financial statement auditor of BSM at position 31/12/2010. f. Reviewing the Annual Audit Plan for Internal Audit Division in 2010. g. Assessing the change in the name of KAP Purwantono, Sarwoko and Sandjaja (Ernst & Young) to KAP Purwantono, Suherman and Surja (Ernst & Young). h. Reviewing activity reports and the results of the Internal Audit Division in 2009 IV Quarter also Quarter I and II in 2010. i. Prepare Draft Revision of BSM Audit Committee Charter. j. Monitoring the development of Core Banking System. k. Reviewing the administrative bank account and its relation to Nett Devisa Position. l. Assessing the name change Purwantono KAP, Sarwoko and Sandjaja (Ernst & Young) to KAP Purwantono, Suherman and Surja (Ernst & Young) (27/12/2010). m. Assessing follow-up audit by public accounting firm auditing the financial statements of the Bank Fiscal Year 2009. n. Prepare an annual report of the Audit Committee in 2009. o. Audit Committee prepared a report in the Annual Report for Fiscal Year 2009 BSM.
In addition, the Audit Committee also perform other tasks related to the implementation of the tasks of the Board of Commissioners, among others, review the draft Report of Supervisory Board of Commissioners at the second half of 2009 and setting up revision of the Guideline and Working Code of the BSM Board of Commissioners.
6. Audit Committee Meetings Audit Committee held a meeting regularly, as stipulated in the Charter of the Audit Committee Meeting conducted at least 1 (once) a month. During 2010 the Audit Committee held meetings of more than 12 (twelve) times with the level of attendance of each member of Audit Committee listed in the table below. Total Meetings in Period of January- September 2010 Name
Total Meetings Attendance
Abdillah 24 24 Ramzi A. Zuhdi
-
-
Kasmadi Adrianto
24
24
Tjeppy Kustiwa
24
24
Total Meetings in Period of October - December 2010 Name
Total Meetings Attendance
Abdillah 11 11 Ramzi A. Zuhdi
11
11
Kasmadi Adrianto
11
11
Tjeppy Kustiwa
11
11
7. Audit Committee Training During 2010, Audit Committee members have attended various trainings and seminars in order to develop the competence of Audit Committee members among others: a. Attending the Audit Committee Seminar Journey in Indonesia: Performance Evaluation and Action Plan For 2010, IKAI, Jakarta. b. Attending Seminar on Preparing the Audit Committee for Full Adoption of IFRS in 2012 at the Hotel Le Meridien Jakarta.
V. Remuneration and Nomination Committee Remuneration and Nomination Committee was formed to assist the Board in carrying out oversight of the BSM, in particular to ensure that the system / policy of remuneration and nomination BSM has developed and implemented based on the principles of fairness and transparency and adherence to laws and regulations.
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Good Corporate Governance
1. Duties and Responsibilities of the Remuneration Committee and Nominations Remuneration and Nomination Committee has the duty and responsibility to: a. Conducting an evaluation of the remuneration policy. b. Provide recommendations to the Board of Commissioners on: 1) remuneration policy for the Board to be submitted to the GMS. 2) Remuneration Policy for Executive Officers and employees as a whole to be submitted to the Board of Directors through the Board of Commissioners. c. Develop and provide recommendations on system and election procedures and / or replacement of members of the Board of Commissioners and Board of Directors to the Board of Commissioners to be submitted to the General Meeting of Shareholders. d. Provide recommendations on candidates for the Board of Commissioners and / or Board of Directors to the Board of Commissioners to be submitted to the General Meeting of Shareholders.
2. The composition of the Remuneration and Nomination Committee Member The composition of the Remuneration and Nomination Committee Members for 2010 are as following table: Name
Chairman (Independent Commissioner)
Abdillah
Member (Independent Commissioner)
Tardi
Member (Commissioner)
Eka B. Danuwirana
Member (Head of Division)
Achmad Fauzi
Member (Head of Division)
Profiles of Members of Remuneration and Nomination Committee: a. Achmad Marzuki (Chairman) Profile can be seen on the Board of Commissioners b. Abdillah Profile can be seen on the Board of Commissioners c. Tardi Profile can be seen on the Board of Commissioners d. Eka B. Danuwirana Profile can be seen at the Division Head. e. Achmad Fauzi Profile can be found at the Corporate Secretary.
PT Bank Syariah Mandiri Annual Report 2010
a. There is no Board of Directors of BSM and other banks that are members of the Remuneration and Nomination Committee. b. Chairman of the Remuneration and Nomination Committee are not concurrently as chairman of the Committee Other. c. There are 2 (two) members of the Remuneration and Nomination Committee from the independent party that is independent commissioner.
Position
Achmad Marzuki
102
3. IIndependence and Dual Position of the Members Remuneration and Nomination Committee
4. Work Report of the Remuneration and Nomination Remuneration and Nomination Committee held a meeting in accordance with the requirements stipulated in the Charter of the Remuneration and Nomination Committee. During the year 2010, the Remuneration and Nomination Committee has conducted three (3) meetings with the agenda as follows: a. Discussing about the remuneration and nomination committee BSM b. Review the remuneration of employees BSM scale compared with other banks in particular peer group. c. Discuss prospective chairman of the Sharia Supervisory Board BSM.
5. Remuneration and Nomination Committee Meeting The number of meetings of the Remuneration and Nomination Committee during 2010 were:
Name
Number of Meeting
Total Attendance
Achmad Marzuki
3
2
Abdillah
3
3
Tardi
3
1
Eka B. Danuwirana
3
3
Achmad Fauzi
3
3
VI. Risk Monitoring Committee
Profiles of Members of Risk Monitoring Committee:
1. Duties and Responsibilities of Risk Monitoring Committee
a. Ramzi A. Zuhdi (Chairman) Profile can be seen on the Board of Commissioners
Risk Monitoring Committee Charter stipulated in the Joint Decree of the Board of Directors No. 9/004-SKB/KOM.DIR dated 18 July 2007. Risk Monitoring Committee is responsible for: a. Evaluate the risk management policy b. Evaluating the appropriateness of risk management policies with the implementation of those policies. c. To monitor and evaluate performance of duties and Risk Management Committee Risk Management Unit, to provide recommendations to the Board of Commissioners.
2. The composition of the Risk Monitoring Committee Members The composition of the Risk Monitoring Committee Members until 30 September 2010 consisted of: Name
Position
Abdillah
Chairman (Independent Commissioner)
Lilis Kurniasih
Member (Commissioner)
Kasmadi Adrianto
Member (Independent Party)
Tjeppy Kustiwa
Member (Independent Party)
The composition of the Risk Monitoring Committee members since October 1 2010 consisted of: Name
Position
Ramzi A. Zuhdi
Chairman (Independent Commissioner)
Abdillah
Member (Independent Commissioner)
Lilis Kurniasih
Member (Commissioner)
Edyanto Rachman
Member (Independent Party)
b. Abdillah Profile can be seen on the Board of Commissioners c. Lilis Kurniasih Profile can be seen on the Board of Commissioners d. Kasmadi Adrianto Profile can be seen on the Audit Committee e. Tjeppy Kustiwa Profile can be seen on the Audit Committee f. Edyanto Rachman Was born in Cirebon on March 27, 1954. Graduated from the Physics Faculty of Institute of Technology Bandung (ITB) in 1978 and Master of Management Indonesia University (UI) in 1991. He started his career as a Supervisor at PT Astra Motor Parts Sales Department in 1978. Joining the Development Bank of Indonesia (BAPINDO) in 1984 as Information Systems Affairs staff, then as Head of ALCO Support Team, Deputy Head of Branch Pontianak and most recently as Head of Tasikmalaya Branch. In the course of his career in PTBank Mandiri (Persero) has served as Team Leader Branch Roll-Out, Group Head of MIS - Strategy & Performance Group, Regional Risk Manager and Regional Risk Manager Bandung Jakarta Sudirman. And training courses have been followed, among others, the Bank Management Course in Stockholm, Boulder Colorado, Cayman Islands, INSEAD Singapore, SESPIBANK, and risk management certification. Since October 2010 served as a member of the Risk Monitoring Committee BSM.
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Good Corporate Governance
3. Dual Position and Independence of Members of the Risk Monitoring Committee a. There is no Board of Directors of BSM and other banks that are members of the Risk Monitoring Committee. b. Committee Chairman and member of the Risk Monitoring Committee Audit. c. There are 3 (three) members of the Risk Monitoring Committee which comes from independent parties and the Independent Commissioner.
4. Report of the Risk Monitoring Committee Risk Monitoring Committee held a meeting at least once a month. During 2010, the Risk Monitoring Committee has conducted 16 meetings with several important agenda and the products produced, among others: a. Evaluating the performance, the bank’s risk profile and health of each month; b. Discusses the Bank’s Business Plan; c. Discussing the development of new core banking system project; d. Monitoring handling of 50 largest debtors to the collectibility of non current: e. Draft revision of the Charter of the Risk Monitoring Committee; f. Assessing inherent risk refinement parameters associated credit risk and operational risk, which affects significantly and describe the actual condition of the bank’s risk profile.
5. Risk Monitoring Committee Meeting Committee meetings held at least 1 (one) time in a month with the presence of members as follows: Name
Period of Januari - September 2010
Number of Meetings
Total Attendance
Abdillah
11 11
Lilis Kurniasih
11
11
Kasmadi Adrianto
11
11
Tjeppy Kustiwa
11
11
Ramzi A Zuhdi
-
-
Edyanto Rachman
-
-
Name
Period of Oktober - Desember 2010
Number of Meetings
Total Attendance
Abdillah
5
5
Lilis Kurniasih
5
4
Kasmadi Adrianto
-
-
Tjeppy Kustiwa
-
-
Ramzi A Zuhdi
5
5
Edyanto Rachman
5
5
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PT Bank Syariah Mandiri Annual Report 2010
VII. Sharia Supervisory Board (SSB) BSM as Sharia Commercial Banks in business is always supervised by a Sharia Supervisory Board, as representatives of DSN - MUI on Islamic financial institutions and independent. The entire product guidelines of funding, financing and operational BSM must be approved by the SSB to ensure conformity with the principles of sharia.
1. Duties and Responsibilities Duties and responsibilities of the Sharia Supervisory Board (SSB) have been referring to Bank Indonesia Regulation on Implementation of GCG No.11/33/PBI/2009 Sharia Commercial Banks and Sharia, comprising: a. Carry out the duties and responsibilities in accordance with the principles of good corporate governance; b. Assess and ensure compliance with Sharia Principles of operational guidelines and products issued by the Bank; in accordance with the input that has been implemented by the relevant work units. c. Giving opinion on the Islamic Bank’s new product development process to fit the National Sharia Board Fatwa-Indonesian Ulema Council; d. Ask for a fatwa to the National Assembly Council of Islamic Scholars Bank Indonesia for a new product that no fatwa; e. Conducting periodic reviews for compliance with Sharia Principles on the mechanisms of fund collection and disbursement of funds and services the Bank; and f. Requested data and information related to the Islamic aspects of the work units of the Bank in the framework of its operation. Supervision SSB is conducting a supervision on the BSM compliance within Shariah principles after getting input from relevant work units include: a. To monitor the product development process the new BSM is based on input from relevant work units, such as: 1) Ask for an explanation of the Bank authorized officials on the objectives, characteristics, and covenants that are used in new products that will be issued; 2) Checking whether to contract used in new products have been found of the National Fatwa Sharia Council - Council of Ulama Indonesia (DSN-MUI). If an existing legal opinions, the SSB did an analysis of the suitability of new product agreement with the National Fatwa Sharia Council - Council of Ulama Indonesia. But if there is no fatwa, then the SSB to propose to the Board of Directors to complete a new product agreement with the fatwa of the National Sharia Council - Council of Ulama Indonesia. 3) Review systems and procedures for new products that will be incurred related to compliance with the Sharia-related work units. 4) Providing Shariah opinion on new products that will be issued.
b. To supervise the activities of the BSM is based on input from relevant work units, such as: 1) Analyze reports submitted by and / or requested from the Board of Directors, managing the internal audit function and / or compliance functions to determine the quality of the implementation of Sharia compliance of the activities in fund raising and channeling funds and bank services. 2) Set the number of test quotes (sample) transactions to be examined with attention to quality of implementation of the Sharia compliance of each activity. 3) Examine the transaction documents are tested quotation (samples) to determine compliance with Sharia Principles, as required in the SOP. 4) Conduct a review of related SOP indication if there are aspects of sharia compliance mismatch Sharia implementation of the activity in question. 5) Giving opinion on the activities of sharia fund-raising and channeling funds and bank services. Reporting a. Sharia Supervisory Board shall submit a monitoring report to the Bank Indonesia at least 2 (two) months after the period of the semester ends. b. Semester in question is a period of 6 (six) months ended in June and December. c. SSB reports the results of monitoring include, among others: 1) The working paper on the monitoring of the Bank’s new product development process and 2) A working paper on the monitoring of activities of the bank.
2. The composition of the Sharia Supervisory Board As of December 31, 2010, Structure of the Sharia Supervisory Board is not changed compared to the year 2009 namely: No. Name
Position
1.
Prof. KH. Ali Yafie
Chairman
2.
Dr. M. Syafii Antonio, M.Ec
Member
3.
Drs. H. Mohamad Hidayat, MBA, MH
Member
During the year 2010 SSB has conducted surveillance on sharia principles as follows: Name of Officer Prof. KH Ali Yafie
Board of Trustees Meeting Sharia (16 times)
a. Provide input that the products and services in accordance with the BSM has issued fatwas DSN. b. Provide input and opinion on all operational guidelines and product manuals. c. Submit monitoring reports to Bank Indonesia Sharia each semester in 2010, which includes among others: 1) The supervision of the bank’s new product development process includes the objectives, characteristics, covenants in the product, conformity with the Fatwa DSN-MUI, review systems and procedures for new products. 2) The supervision of banking activities including fund raising, fund distribution, as well as banking services. Form of supervision of analysis of the results of internal audit reports, the determination and examination of picking the number of test transactions, review of SOP-related aspects of sharia. 3) Opinion of sharia as much as 7 (seven) lots associated with the products, transactions and operations covering about Musytarakah Mudharabah Products, Forward Based Transactions Real Transaction, Transaction Services Transfer Multi Currencies, Heavy Equipment Financing, Buying Gold In No Cash mortgaged (Rahn) to Bank, the bank’s operations Period I of January 1 2010 June 30, 2010, and bank operations per Period II is July 1 2010-31 December 2010. 4) Methodology and examination of samples of test taking techniques
3. Remuneration Policy of the Sharia Supervisory Board Remuneration and other facilities refers to the decision of the shareholders as stipulated in the general meeting of shareholders by taking into account the advice given by the Remuneration and Nomination Committee. Total remuneration paid to the Sharia Supervisory Board during 2010 included salary and other compensation with no inclusion of the bonus which amounted of Rp 0.772 billion. The process for determining the remuneration of SSB was similar to that described in the remuneration policy of the Board of Commissioners.
Types of remuneration received by the Sharia Supervisory Board is as follows:
Type of Remuneration
Number Received within 1 (one) year (the Sharia Supervisory Board) People
Rp
4
Salary USD / Year
3
Rp1,077 billior
Dr. M. Syafii Antonio, M.Ec
13
-
-
Drs. H. Mohammad Hidayat, MBA, MH
16
Benefits / Facilitie Other USD / Year
Total
Rp1,077 billior
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Good Corporate Governance
4. Double Position of SSB Members Double position of members of SSB at other institutions are as follows:
Name
SSB Double Positions
Dr. M. Syafii Antonio, M.Ec
1. PT Asuransi Takaful Indonesia, 2. PT Schroders Investment Management, 3. Lembaga Pengembangan Export Indonesia.
Drs. H. Mohamad Hidayat, MBA, MH
1. Asuransi Manulife Shariah, 2. Asuransi Allianz Shariah, 3. UUS Bank BTN Shariah.
5. Secretary of the Sharia Supervisory Board Secretary of the SSB is Rahmat Hidayat. Born October 22, 1973. Graduated from Faculty of Civil Department of Criminal Islamic Sharia Islamic Institute Syarif Hidayatullah Jakarta in 1999.
The tasks and responsibilities of the Secretary of SSB are: a. Setting up Monitoring Report to the Shariah SSB in half-BI and DSNMUI, including the Board of Commissioners and Board of Directors of BSM. b. Ensure the whole process of communication with management SSB BSM and the other party goes well and smoothly. c. Help related working units in the implementation of sharia principles and provisions. d. Assist in the acceleration of the Service Level Agreement (SLA) SSB optimally.
G. Shareholding Disclosure, Financial and Family Relations Board of Commissioners, Directors and Controlling Shareholders Per position in December 2010, members of the Board of Commissioners and the Directors do not hold shares in BSM and has no financial ties or family relationships with members of the Board of Commissioners and Board of Directors and Controlling Shareholders (PSP). Members of the Board of Commissioners and Board of Directors will disclose if there is shareholding reaches 5% (five percent) or more in the BSM as well as on banks and other companies based inside and outside the country. Members of the Board of Commissioners and Board of Directors either individually or together do not have a stake exceeding 25% (twenty five percent) of paid up capital of another company. Shares Ownership of the Board of Commissioners and Board of Directors:
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PT Bank Syariah Mandiri Annual Report 2010
Name of Officer
Shares Ownership on BSM
Shares Ownership at Other Companies
Achmad Marzuki (President Commissioner)
Nihil
Nihil
Abdillah (Commissioner)
Nihil
Nihil
Ramzi A. Zuhdi (Commissioner)
Nihil
Nihil
Tardi (Commissioner)
Nihil
Nihil
Lilis Kurniasih (Commissioner)
Nihil
Nihil
Yuslam Fauzi (President Director)
Nihil
Nihil
Hanawijaya (Director)
Nihil
Nihil
Srie Sulistyowati (Director)
Nihil
Nihil
Amran P. Nasution (Director)
Nihil
Nihil
Zainal Fanani (Director)
Nihil
Nihil
Sugiharto (Director)
Nihil
Nihil
Achmad Syamsudin (Director)
Nihil
Nihil
H. Shares Option Share option is an option to purchase shares by members of the Board of Commissioners, Directors and Executive Officers conducted through offering stock options in order to award compensation was resolved in the General Meeting of Shareholders. Until the end of December 2010, BSM does not perform the option shares.
I. Buy Back Shares and Buy Back Bond Buy back shares and buy back bonds is an effort to reduce the number of shares or bonds that have been published by buying back shares or bonds, the procedure of payment is carried out in accordance with applicable regulations. During 2010, BSM is not doing share buy back or buy back the bonds.
J. Provision of Funds To Related Parties and Provision of Funds Large-Scale BSM already have policies, systems and written procedures for the provision of funds to related parties and the provision of funds as well, there are no violations and excess LLL.
K. Legal Issues Legal issues are civil and criminal legal issues facing the BSM during the reporting year and have been filed through the legal process. Legal problems that occur in the BSM for the period January to December 2010 can be seen in the following table:
Legal Issues
Total Civil
Criminal
Has been completed (already has a binding legal power) In the process of settlement
4
-
10
1
Total
14
1
During 2010, members of the Board of Commissioners and Board of Directors of PT Bank Syariah Mandiri have no legal problems and not being good law litigants in civil and criminal.
Lawsuit between BSM and PT Atriumasta Sakti
16, 2009, the Arbitration Tribunal has decided among other Basyarnas punish BSM to return to PT Atriumasta Sakti funds amounting to Rp878, 791 million and other expenses are supported by evidence that has been verified by KAP at an estimated Rp11, 647 billion. The Arbitration Tribunal’s decision, dated 10 November 2009 BSM Basyarnas apply the cancellation decision to the Court of Central Jakarta Religious No.792/Pdt.G/2009/PAJP with case registration. Of proceedings, dated December 10, 2009, Central Jakarta Religious Court granted the petition for cancellation decision Basyarnas BSM. Refering to the decision, PT Atriumasta Way and the Arbitration Tribunal Basyarnas appeal to the Supreme Court. In December 2010, the Supreme Court granted the appeal and cancel the decision of the Central Jakarta Religious Court. On December 31, 2010, BSM has established a provision for estimated losses from lawsuits amounting to Rp12 billion.
L. Transactions Containing Conflict of Interest Conflict of interest is a situation where there is a conflict between economic interests and personal economic interests of the BSM Board of Directors, Member of the Board of Commissioners, major shareholders or affiliated parties of the Board of Directors, Member of the Board of Commissioners or the Controlling Shareholder. During 2010, the transaction containing the conflict of interest in the BSM has been conducted in accordance with applicable regulations, including attention to the principles of good corporate governance.
On January 12, 2009, BSM was sued by PT Atriumasta Sakti through the National Shariah Board of Arbitration (Basyarnas) to register the case No.16/tahun 2008/Basyarnas/Ka.Jak. of the trial process September
PT Bank Syariah Mandiri Annual Report 2010
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Good Corporate Governance
M. Giving Fund for Social and Political Activities BSM is not involved in political activity and does not give donations to political interests. Conversely, concern for social and environmental issues is an important part of the duties and responsibilities towards society BSM. The explanation is more details outlined in the Corporate Social Responsibility Report in the Annual Report 2010.
N. Problems and Constraints Faced Value Added Tax (VAT) on transactions Financing Murabahah. BSM has received a Tax Underpayment Assessment Letter (SKPKB) and Letter of Tax Collection (STP) for the tax period January to December 2003 from the Directorate General of Taxation (Taxation Office) for a total of Rp37, 649 billion implement BSM regarding distribution of funds based on Syariah principles in the form of Murabahah Financing. On October 15, 2009, the government has issued Law No. 42 of 2009 on the third change of Law No. 8 of the Value Added Tax on goods and services Sales of Luxury Goods applicable as of April 1, 2010. The Act confirms that the financing services based on sharia principles, including services that are not subject to VAT. Subsequently in 2010, the government has issued Law No. 2 of 2010 concerning Amendment to Law No. 47 of 2009 on the State Budget of 2010 that were effective from the date of May 25, 2010. In the article 3, paragraph 2 point b and an explanatory paragraph states that the imposition VAT on the transaction murabaha against several Islamic banks certain covered by the government. Based on the explanatory paragraph, the amount of VAT to the government of BSM is Rp25, 542 billion of total SKPKB and STP received BSM for Rp37, 649 billion. BSM believes that the difference between the amount of VAT borne by the government and the amount received SKPKB BSM and STP will not be charged back in accordance with the intent and purpose of the legislation.
O. Bank Strategic Plan
Accountability, Responsibility, Professional and Fairness (TARProF), as follows: 1. Application of the principle of Transparency through publication of the Financial Statements & Self Assessment implementation of GCG in the mass media, and the homepage of the Bank Annual Report, the publication of financial reports and calculations for the results at regular intervals through brochures / leaflets to customers, disclosure of the remuneration committee BSM and internal fraud in the Report of GCG; Up-dating in the Bank’s internal regulations SE on the intranet that can access the whole range of BSM. 2. Implementation of Accountability principle has been conducted through internal meetings of the Board, Committees, Executive Officers and related parties, Cost Efficiency in the entire work unit, monthly and quarterly assessment by monitoring the realization of the Business Plan of the Bank (RBB) for the work unit and the Central Branch Office, Performance and Performance Appraisal contract for all employees. 3. Implementation of the principle of Responsibility through compliance to various regulatory provisions (Act, PBI & Sebi, GAAP, INTRAC, Fatwa DSN; updating / revision of policies / guidelines / SE internal; Corporate Social Responsibility (CSR) is mostly in synergy with BSM LAZNAS PEOPLE. 4. Implementation of Professional Principle is conducted through the publication of Opinion Risk, Compliance Certificate, Compliance Review, Compliance Opinion / Note; Sisdur Committee Decision (KKS) for the issuance of internal regulations and Risk Management Committee (RMC); use External Appraisal services, External Auditor for inspection / audit report Finance; implementation of the tender through a team of Procurement & Control of Goods and Services (TPPBJ); updating the list of partners, Appraisal, Notary, External Auditor and the appointment of Commissioners and the Independent Party in the Committees. 5. Implementation is conducted through the implementation of the principle of Fairness Human Capital Strategy; provision of such an employee reward Benefit Performance Unit (TPUK) quarterly, incentives and bonuses; the application of sanctions for employees who violate discipline form of guidance, warnings (SP1, SP2, SP3) and the termination of employee problems (fraud); mutation, promotion / rotation / demotion employees and officials working units.
BSM Plan corporations (corporate plan) and the bank’s business plan (business plan) is realistic, comprehensive, scalable, and pay attention to the precautionary principle (prudent) and to anticipate changes in internal and external as well as tailored to the vision and mission of the Bank.
P. Efforts to Strengthen Implementation GCG
Realization Bank Business Plan Year 2010
I. Media Information Dissemination
Implementation of the principles of good corporate governance in the Bank’s Business Plan is divided by 5 (five) GCG cover Transparency,
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Information dissemination to all stakeholders is an important part of increasing the transparency principle of information internally and externally, which is expected to assist, maintain and enhance knowledge,
understanding and positive perception of stakeholders on policies and activities of BSM. In addition to the national print media, information dissemination is also carried out by: 1. Internet Site: www.syariahmandiri.co.id. 2. Social networking: facebook, twitter 3. BSM’s internal magazine. 4. Television / Radio. 5. Forums recitation 6. Media communication between BSM and its employees through various facilities provided such as intranets, Banks SE, morning prayer forum, etc.
In addition, information about BSM can also be obtained at the Division Law and Corporate Relations is located at: Head Office of PT Bank Syariah Mandiri, Mandiri Wisma I, Jl. MH. Thamrin No. 5 Jakarta 10340 - Indonesia. Tel. (62-21) 2300 509, 3983 9000 (hunting). Fax (62-21) 3983 2989.
II. Ethics (Code Of Conduct) Since 2002, BSM has a Code of Conduct which refers to the akhlaqul karimah (noble manners). Code of Conduct is intended to provide guidance to behave in accordance with the values and culture that BSM would expect, namely Islamic, professional, and responsible for interacting with all parties, both co-workers, the internal BSM and relationships with customers, partners and regulators. Contents Code of Conduct Several important aspects are regulated in the BSM Code of Conduct among others: 1. Culture BSM 2. Conflict of Interest (conflict of interest) 3. Malfeasance 4. Secrecy 5. Behavioral Insider 6. Data Integrity and Accuracy 7. Banking System Integrity 8. Account Management Officer 9. Annual Statement (Annual Disclosure). 10. Sanctions violations / noncompliance. 11. Implementation and supervision of the Update. Deployment and Monitoring Implementation of Code of Conduct Socialization of the Code of Conduct applying to all human beings has been conducted by BSM, from operational level through top management. Various efforts made in order to spread BSM Code of Conduct include: 1. Socialization in the forum CoC morning prayer both at Headquarters and Branch / outlet BSM, Reading & Discussion forums and Basic courses Training for new employees, Overview for Officers and employees MMDP Leadership for improvement.
2. Hanging mobile printing Shared Values Ethics. 3. Printing and distributing posters and Ethics at the Head Office Branch Offices throughout the BSM. 4. Signing posters Laa Risywah for all Head of Unit at Head Office and Branch Office BSM. 5. Code of Conduct socialization behaviors (movement “La Risywah, No Kick Back and No Special Payment”) has also been carried to its customers, especially customers who obtain financing facility from the BSM, ie by requiring customers to sign a statement ‘no’ reward / prize to the ranks BSM employees in cash, special items personal needs, parcel or special personal and other services as an expression of gratitude from customers for services provided in the financing process. Before signing the statement of compliance with the Code of Conduct, each employee BSM is required to read, understand and appreciate the Code of Conduct properly. Each employee is required to report violations of the Code of Conduct implementation to the employer with a copy to the Division of Human Capital, while for offenses involving the elements of the leadership of the BSM, the report submitted to the Division of Human Capital. All reports must be included by data and / or supporting evidence is accurate so that violations can be further processed. During the year 2010, the BSM monitoring the implementation of Code Of Conduct, especially on aspects related to the executive officer ranks of malfeasance, conflicts of interest, confidentiality and the application of la-risywah, no kickbacks, no special payment. Code of Conduct Enforcement Enforcement of BSM Code of Conduct at Head Office and Branch Office, among others, carried out by: 1. Improved function and role of supervisors in providing a role model, ensuring an understanding of the regulations that apply to work units disupervisinya, re-examine the (re-check) every transaction (posts) operations performed. 2. Increased vigilance and security assets of BSM. 3. Duties and responsibilities in accordance with jobdesk respectively. 4. Refrain from any conflict of interest (conflict of interest)and promotes the interests of BSM. 5. Reporting any irregularities of fraud committed by employees through the media PO Box Fraud. 6. Imposing sanctions according to the applicable provisions, if the CoC violation.
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III. Declaration of a Muharam 1432 Hijri In order to increase commitment to the sustainable implementation of GCG in accordance with the application of ethical values in the Code of Conduct, on December 6, 2010 BSM employees represented by the Head of Unit is jointly make the Declaration a Muharam 1432 Hijri. The Declaration is a commitment in contributing to the fight for human BSM Indonesia civilization improvement through improved welfare and public education. Indonesia and the struggle for a better spiritual civilization requires determination, sacrifice, integrity, hard work, smart work and sincerity of work as exemplified in the events of the Prophet Muhammad hijrahnya to build the civilization of all people. In line with the motto “Better Legacy for Better Indonesia”, BSM human ideals are required to have a long and leave a good legacy. Build into the Great BSM BSM also meant to build Indonesia.
IV. Company Values To align the human movements and steps in achieving BSM vision and mission set, BSM Shared Values define the reference value in the companies that agreed to behave in a certain standard. BSM’s Shared Values abbreviated with the word “Ethics”. The word “Ethics” itself means “set of moral principles” that set of moral principles as an order of noble behavior that make up the human benefits of BSM. In everyday practice, the Shared Values BSM translated into the major behaviors (core behavior). During 2010, Shared Values BSM socialization is conducted through various forms of activities including: 1. Spirit of the Week 2. Quiz Contest and BSM Dexterity Shared Values 3. Singing contest Ethic 4. The messages in each meeting management 5. Themes of the Meeting and the activities of the BSM 6. Employee training modules BSM
training and reading and discussion of new employees and existing employees. Socialization policies aimed at WBS to avoid larger losses and become an alternative channel in the report any violations committed, especially those who have certain positions that are difficult to reach. In addition, WBS also encourages a continuous monitoring process can be run optimally, whether conducted between superiors and subordinates and between superiors and their superiors again.
The existence of Whistle-Blowing System BSM ranks have been aware that the existence of fraud can cause harm to BSM and affect the image (image) BSM, so that might impact on labor productivity ranks of BSM and BSM overall business continuity. For that according to the results of a survey to all employees produced the conclusion that all employees are ready to participate actively as a transmitter of information on early indications of whistle blowers to management fraud occurred in the context of the Early Warning System. In order to facilitate the active role of all employees has provided a means of reporting through a Post Office Box Fraud which can be accessed via the Public Folder SIK with http://10.1.30.7/SIK address.
V. Whistle-Blowing System
Whistle-Blowing System Mechanisms
In line with the commitment to the implementation of GCG, BSM has designed in such a way a Whistle-Blowing Policy System (WBS) for the early detection of fraud occurring. Through this system, the BSM can prevent fraud with the overall pattern of supervision and involving all employees so as to provide security for all parties that interact with the BSM.
With a whole range of BSM’s commitment to combating fraud reporting then be opened to access the whole range of BSM to deliver the report through the box fraud that would be guaranteed confidentiality.
BSM has been preparing the implementation of policy throughout 2010 WBS is to disseminate the policy to all ranks of the WBS BSM through
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Whitle-Blowing Process Execution System: 1. Employees who see or find the act of fraud can be reported by filling the data into a Post Office Box Fraud SIK folder. Submission of the report should be supported by sufficient data or information.
2. Post Office Box Fraud is periodically opened and analyzed by the Division of Compliance (NSC). The report found worthy will be processed to the next stage. 3. DKN inform fraud reports to the Supervisory Compliance (PKP) for follow up examinations. 4. PKP soon gather evidence and conduct the initial inspection, then make a report incidental to the NSC. 5. DKN make incidental reports of PFM to the Director Compliance. 6. DST ensures data confidentiality PO Box Fraud. 7. Internal Audit Division (DAI) conducts an investigation on the basis of reports that have received incidental taxable disposition of the Director of Compliance. 8. DAI reports the results of investigations made in the form of Report Audit (LHA) Special. 9. DAI conveys to the Director of Special LHA. 10. DAI delivers Special LHA (containing the disposition of the President Director) to the DHC for the follow-related staffing problem for the offense. 11. DHC with Tim Control Officer (TPP) conduct meetings and / or a trial against employees who violate discipline. BSM WBS mechanism is conducted through: 1. Compliance Information Systems (SIK), an online and realtime applications in support functions related to compliance with the GCG, Code of Conduct and Compliance Procedure. 2. Operational Risk Management Information System (ORMIS), an application system to identify, monitor and mitigate operational risk events BSM. 3. Note Rate Correction and Prevention (CTKP), is a list of records all violations committed on a functional level Branch Office structure.
If the truth of the allegation of infringement is proven then it will be followed by implementation of the audit.
Use and Whistleblowing System Output 1. The indication of fraud has been reported by PFM or through PO Box Fraud employee promptly reported by the NSC to the Compliance Director. 2. On the basis of the disposition of the Director of Compliance, fraud problem then solved through the mechanism of the examination (audit) by the KP-DAI. 3. Examination conducted by the KP-DAI is expected to produce a report to the Director in accordance with the provisions of the bank by promoting the independence, professionalism and objectivity. 4. Work unit is not justified finish it yourself or take punitive measures for fraud that occurs with the purpose to cover up cases of fraud or to avoid punishment from the TPP. In the future, BSM will continue to improve the implementation of policies related to complaints of violations WBS from stakeholders outside the BSM, so the potential for reputational risk and public confidence in the BSM can be avoided.
Q. Corporate Secretary Corporate Secretary BSM chaired by the Head of Corporate Relations Division & Law of the mission to support the creation A good corporate image is consistently and continuously through the effective management of communication programs to all stakeholders.
Mechanisms for reporting violations in SIK, ORMIS and CTKP conducted in accordance with procedures each of which has been standardized.
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BSM Board of Directors by Decree dated 22 No.10/014-KEP/DIR January 2008, has appointed Company Secretary (Corporate Secretary) and Executive Secretary of the Company’s BSM Daily dirangkapkan to Head Corporate and Legal Relations Division (HPD). In carrying out the functions and roles, Corporate Secretary, assisted by legal functions, corporate events, protocol, secretarial, communication /promotion, media relations and institutional relations in dealing with external and internal BSM. Moreover, given the employee is one important element in the creation of corporate image, Corporate Secretary, BSM also has the task of disseminating information about BSM to all employees, including delivering the program and policy management. That information is conveyed through internal media, among others: Bulletin BSM, Monday Morning Prayer Forum, Prayer On Wednesdays, dhikr Friday morning, newsletters, intranet, employee gathering, and dissemination to regional offices and branches. The function and role of Corporate Secretary in BSM and all supporting units have been set in the Decree No.10/014-KEP/DIR dated January 22, 2008 with the basic tasks: 1. Keep abreast of market and external conditions of BSM particularly the regulations that apply in Sharia Banking.
2. Providing the public with an understanding of BSM and all information needed by external parties associated with the BSM internal and / or specific things that the public wants to know. 3. Advise the Board of Directors of BSM to enforce the law / Act that apply, among others, about the Company, Bonds, Stocks Islamic Banking, Capital Markets and its implementing regulations.
Shared Values
Core Behavior
Excellence (Imtiyaaz): attempt to achieve perfection through the concerted and continuous improvement
l Perfection: committed to perfection. l Ownership: develop an attitude in a positive sense of belonging. l Prudence: maintaining trust with caution by always taking into account the risk of decisions made and actions taken. l Competence: improving the skills and tasks assigned according to the demands of professional bankers. l Trust: to develop mutual trust based on positive thoughts and behaviors. l Result: orientation on results and added value for stakeholders. l Respect: respect the opinions and contributions of others. l Effective Communication: climate realizing the traffic messages are smooth and healthy, and avoid failure by always improving communication skills. l Sincerity: straighten out the intention to please Allah. l Universality: to develop the virtues that are generally accepted by all mankind. l Social Responsibility: a concern for the environment without neglecting the social and corporate objectives. l Honesty: uphold honesty in every behavior. l Discipline: carry out the duties and obligations in accordance with the provisions and demands of companies and Islamic values. l Responsibility: accepting the task as a mandate and run it with full responsibility. l Good Governance: implement governance of a healthy organization. l Innovation: proactively explore and implement new ideas to provide better service and faster than competitors. l Satisfying Customer l: to prioritize service and customer satisfaction.
Teamwork (‘Amal Jama’iy): develop a working environment that synergy
Humanity (Insaaniyah): Uphold human values and religious
Integrity (Siddeeq): obey the code of ethics and think and behave commendable
Customer Focus (Tafdhiilu Al-’Umalaa): understanding and meeting customer needs to make the BSM as a reliable and profitable partner.
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4. As a liaison between the BSM with external institutions that represent the community. 5. BSM reminded Directors about their responsibilities to implement GCG optimal fit company objectives in order to create a better corporate image and increase its profit on an ongoing basis. 6. Ensure the functioning of the Board of Commissioners, Directors, SSB and Committees. 7. Coordinate the implementation of Self Assessment and Reporting in accordance PBI BSM GCG, GCG and Bapepam. 8. Preparing the List of Shareholders, the Special List of members of the Board of Directors, the Board of Commissioners, and his family in the ownership, business relationships, and other roles that may cause a conflict of interest 9. Attending and making minutes of meetings of Directors and Board of Commissioners 10. Carry out the implementation of the General Meeting of Shareholders
Relationships with stakeholders through activities Intersection analysts, public exposure, the quarterly newsletter publishing, publishing quarterly financial statements, and annual mid-year. Shareholders and other stakeholders can also access information about BSM and its activities on the website, www.syariahmandiri.co.id. Some of the activities undertaken by the Corporate Secretary in 2010, related to stakeholders relationship, among others: 1. Media of Gathering involving Press and Insan BSM
2. Signing of Memorandum of Understanding (MoU) with BSM partners include: a. Pawn Public Company b. Telkom c. Sahid Tours d. Tazkia e. Badan Wakaf Nasional f. National Endowments Board PT Berlian Laju Tanker 3. Organizing various events in order to build the image of BSM firm include: a. Award SME Events b. Following the Islamic Book Fair c. Exhibitions Franchise & License Expo Exhibition, Exhibition of Islamic finance in Surabaya festival and exhibition inauguration KUR workers in Surabaya d. Asia Pacific Converence and Exhibition (Apconex) e. Financing of cooperatives and SME Expo f. REI Expo in Jakarta g. Activities banking clinic h. Agrinex Expo i. Bazar banking and SMEs in Surabaya 4. Organizing various events related with its Corporate Social Responsibility (CSR), among others: a. Mass circumcision event b. Compensation orphans c. Go fast with 1000 (one thousand) orphan d. Financing Qordhul Hasan e. Community empowerment by cultivating mushrooms f. Construction of mosques
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I. Press Conference List In 2010, the Bank has released the press conferences among others:
No Date 1 6 Jan 2010 2 27 Jan 2010 3 2 Mar 2010 4 15 Feb 2010 5 10 Mar 2010 6 26 Mar 2010 7 24 Mar 2010 8 14 Apr 2010 9 12 may 2010 10 18 Jun 2010 11 9 Jun 2010 12 7 Jul 2011 13 13 Jul 2010 14 15 Jul 2010 15 28 Jul 2010 16 8 Agt 2010 17 12 Agt 2010 18 19 Agt 2010 19 9 Sep 2010 20 6 Oct 2010 21 20 Oct 2010 22 13 Nov 2010 23 16 Nov 2010 24 23 Nov 2010 25 28 Nov 2010 26 24 Dec 2010
Description BSM was present at Wonosari & Bantul BSM was present at Gorontalo BSM signed an MOU with Gatehouse Bank London BSM relocated Purwokerto Branch BSM signed a Cooperation with PT AXA Mandiri Financial Services BSM was present at Ternate, North Maluku Bank Syariah Mandiri conducted BSM Gelegar Hadiah BSM profit increased by 48,7% BSM signed a Cooperation with Kementrian LH BSM incorpoated with Andalas University BSM was present at Sorong & Mamuju BSM was present at Palangkaraya BSM profit for Trimester I 2010 increased by 36,98% BSM Gained a Very Good Performance Award for 10 years consequentively BSM signed a cooperation on discount giving BSM was present at Kupang BSM net profit semester I 2010 increased by 57,14% BSM innaugrated 7 new outlets in Solo BSM gained Annual Report Award BSM opened Pondok Kelapa Branch BSM innaugrated Ambon and Cenkareng Bank Syariah Mandiri conducted BSM Gelegar Hadiah BSM innaugrated Sukabumi Branch BSM net profit quarter III 2010 increased by 61,39% BSM innaugrated Sub-branch office Sepinggan and Balikpapan Baru BSM conducted UMKM and Education Awards 2010
II. Corporate Secretary Profile Corporate Secretary is chaired by Ahmad Fauzi based on Director Degree Number 10/014-KEP/DIR dated 22 January 2008. The biography of Ahmad Fauzi can be seen at Division Head Report. The internal audit report is in line with Bank Indonesia regulation No.1/6/PBI/1999 dated 20 September 1999 regarding the assignment of Compliance Director and the application of the Bank Internal Audit Function Implementation.
R. Audit Internal Report In line with Bank Indonesia Regulation No.1/6/PBI/1999 dated 20 September 1999 on the Assignment of Compliance Director and the Implementation of Standard of Internal Audit Function of General Bank, BSM has owned a Division that execute the function of Internal Audit Working Unit (Named SKAI) that an Internal Audit Division then called with DAI. DAI is chaired by Division Head who are directly responsible to President Director and having direct communication with Board od Commissioners. In order to realize the vision of BSM”To be a reliable Syaria Bank Business Partner Choice as well as obeying with the existing rules. DAI has conducted risk based audit as well as the Bank Inernal Audit Execution Standard (named SPFAIB). Therefore,BSM is not only reliable, but also the main choice of the Business Partners.
I. Internal Audit Charter In executing its job execution, DAI has owned an Internal Audit Charte) as a basic guidance that govern position, authority, and reponsibility, as well as work method in executing the internal audito work in order to create an effective internal control system at BSM. The Internal Audit Charter is a pillar of an important Good Corporate Governance policy dan has run effectively especially in relation with the princ iple aplication of Accountability, independency, and fittingness in financial reporting.
II. Objective, Fuction and Responsibility of DAI Internal Audit Dicision (named DAI) aims to: 1. Assist all levels of management to save the bank operation that involves the people’s fund;
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2. Maintain and ensure the bank development towards a fair and sound development.. As emphasized in BSM Internal Audit Charter dated 27 April 2005, task and DAI strategic fuctions are: 1. Protective, namely ensure the realization of the Bank Compliance to policy, terms and regulation stipulaterd through the financial , accounting, operational and other activities in on-site checkin or supervision (passive); 2. Constructive, namely maintain thrift level of the usage of optimal human resources and the maximum result effectiveness through improvement suggestion and objective information regarding the reviewed event at all level of management; 3. Consultative , namely giving the beneficial recommendation to all management as the policy perfection in order to reach the organization objective through Identifying all risk possibility and abuse in order to better and increase the efficiency of the resources and fund usage, so that the abuse can be detected. Besides, DAI also has professional responsibilities, covering: 1. Having the independence in conducting audit and utter the sights and thoughts in accordance with their profession based on the existing general audit standard.
5. Does not conduct audit to working unit whose officers having family relation up to 2 levels with the concerned internal auditor and activities previously conducted by concerned internal auditor. 6. Always improve the technical skill through the sustainable education at least 180 hours annually. 7. Periodically at least once in 3 (three) years reviewed by external parties, in order to ensure that the execution of DAI fuction has been in accordance with the Implementation Standard of General Bank Internal Audit Function. 8. Consistently and sustainably develops the partnership role with auditee, through effective communication to discuss and follow up all audit findings so that auditee can well understand the risk and mitigation of the available abuse. 9. It is obligated to submit report on audit findings that have been followed up, coordinate the concerned matters with the interest parties (system educator) as an effort to contribute in performance and operational working system improvement. 10. It is obligated to observe every follow up of the findings either conducted by the concerned working Unit or by the management.
2. Having high commitment to the success and good image of Bank. 3. Having resposibility to their profession by impelementing the accurate and thorough by firmly holding the auditor code of ethics and bank ‘ETHIC” culture. 4. Not related with the operational activity execution from the audited working unit.
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IV. Description on the Internal Audit Activity The activities conducted by Internal Audit among others: 1. Realize the audits (routine and non routine / special) to all Branch and Head Office Working Unit in accordance with the target in the Annual Audit Plan. Besides, DAI also conducts special/ investigative audit if existing problems that may bother the bank operational acts, abuse against the companay Ethic Code and GCG principle at throughtout the Bank.
Based on the 2010 DAI Work Plan, the assignment target of audit in accordance with Risk Based Audit methodology covering 151 assignments, increased compared with the audit assignment 2009 amounting of 140 assigments. In 2010, audit realization was 243 assigments (160,93% of the 151 assigments). With the following details: a. Routine Audit amounting of 184 assignments b. Non-routine Audit amounting of 59 assignments.
2. Applying the assessment to the internal control (Intern Score/ICS), refering to the impact measurement and the abuse frequency likehood. ICS assessment is one of the component of working units Key Performance Indicators. It shows the strong commitment in improving the internal control system effectivity sustainably. 3. Implementing monitoring system upon all audit findings that need following up by respective working unit (auditee) on-line through the application system of D-ONE (Online Following Up Monitoring List). The disability to finish the findings requiring following up is one of component of score reduction on working unit Key Performance Indicator (KPI). Each working unit and access D-ONE to monitor The Following up Monitoring List completion which having pending status. 4. Complete the effective audit working management through system management audit application. 5. Complete Risk Based Audit guidance. DAI conducts Audit of Information System Technology which covering IT physical audit, application/ network application. With efficiency consideration, audit to big branches with complicated IT problem are conducted by TSI audit team. 6. Improve the audit result follow up/ completion for stakeholders throuhg Monitoring and Audit Development section (MA). MAD has role and fuction as bellow; a. Apply the on-line system of DMTL (D-ONE) completion. Each working unit can access D-ONE to monitor DMTL having status of pending. b. Send reminder letter on DMTL completion, if the concerned working unit has not follow up the results/ has not submitted the relevnt supporting efidence according to the agreed
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target date or the latest of 3 months starting from the audit completion date. c. Stating the audit result follow up “done” if the working unit has submitted the supporting evidences of the concerned audit finding completion. d. In case a working unit cannot accomplish the finding/ problem with the certain reason, so working unit may propose the write off request to DAI Head with the supporting efidences that show the follow up efforts that has been executed by working unit. e. If the working unit cannot follow up the audit results to all the agreed time range so that the uncompleted item will be the reduction score to the working unit KPI assessment with the maximum score weight of 7. 7. Actively participate as the external auditor counterpart that is Bank Indonesia, PT Bank Mandiri (Persero) Tbk, Badan Pemeriksa Keuangan Republic Indonesia (BPKRI), as well as Public Accounting Firm namely facilitating the communication between the management with the external auditor and observe the follow up/ completion of external audit finding. The external auditors which conducted review to BSM, among others: a. Bank Indonesia Bank Indonesia has conducted a minimal audit once a year and monitor the follow up of the updated audit response ever three months. Every follow up progress is reported to the President Director, Compliance Director and Board of Commissioners every three months. b. PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk conducts at least once a year and monitor the follow up upon the updated audit response every 3 months. The follow up progress is reported to the President Director and Board od Commissioners every three months.
c. Badan Pemeriksa Keuangan Republik Indonesia (BPK RI) BPK conducted audit once a while according to the BPK working priority, the last was 2005. The follow up on the updated audit response every 3 months. d. The Report and The Financial Transaction Analysis PPATK conduct the compliance Audit once in a while according to PPATK, among others in 2007 and 2010. The follow up upon the commitment of improvement is reviewed every 3 months. e. Lloyd Register Lloyd’s Register Quality Management (LRQA) is an institution that issues Certificate of ISO:2008 Quality Management System, for DAI audit quality standard which was acquired in 2010. Formerly, since 2004 DAI has gained certificate of 9001:2000. Sesuai the requirement of ISO 9001:2008. LRQA will conduct a surveilance visit every 6 months to review the consitency of ISO 9001:2008 implementation by Manager. f. External Review In accordance with The regulation of Bank Indonesia No 1/6/ PBI/ 1999 regarding the Assignment of Compliance Director and the application of General Bank Internal Audit Fuction Implementation Standard, DAI is required to submit the review on external party that covers the opinion about the SKAI work result and its compaliance to the Bank Internal Audit Function Implementation Standard as well as the improvement that is probably committted.
DAI is required to submit the review result by the appointed public accountant Firm which is conducted at least once in 3 years, the latest 1 month after the review result by the external party is accepted by the bank.
The last external review was conducted in June 2008 by Public Accountant Firm Drs.J tanzil & Associate, for the period of 1 June 2005-31 May 2008. The 3 (three) Yearly SPFAIB Implementation Review will be conducted in 2011.
8. Soc ialize and educate about the internal control effectivity at the audit exit meeting as well as an in-house training, either conducted for the operational employees or officer among others through Branch Operations, Management Trainee Programs and so on.
V. The Auditor Development To ensure the sustainability of HR development sustainability, either competency or soft skill, DAI always improve the auditor quality by continulusly improving the technical skills, through the continuous training of minimum 180 hours per 3 years per auditor in accordance with the BSM Internal Audit Charter. 1. The Internal Auditor Certification In encouraging the the working professinalism and meeting the qualification of DAI HR, the Bank always encourage DAI HR to gain the professional certificates as internal auditor. In 2010, DAI HR who have got internal audit professional certificate are 3 people for the certificate of Qualified Internal Auditor and 3 (three) people (in prcess) for the certification of Certified Internal Auditor (CIA). 2. Auditor Training The forms of training that have been conducted by DAI in 2010 covering: a. SKAI Heads Forum b. Training Continous Auditing c. Training Treasury Audit d. The Syaria Banking Overview e. APU /PPTFKDKP Training f. Workshop on Risk Model Validation For Banking g. BSM Basic Financing h. IAIB Conference i. AMS workshop j. Fraud Risk management
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k AMS Training l. Audit Program Workshop
VI. Internal Audit Division Head Profile The position of Internal Audit Division Head is chaired by Priyono based on Director decree: 11/002-KEP/DIR/ dated 7 January 2007. Priyono’s biography can be seen inthe Devision Head section.
VII. BSM Inernal control System To support the sound and safe Bank operational management, BSM has applied an internal control system which stated in circular Letter No 6/018/OPS dated 6 may 2004, refering to the Bank Indonesia Circular Letter No.5/22/DPNP dated 29 september 2003 regarding the Internal Control System Standard for General Bank. The implementation of internal control system is supported by the supervision and management structure as follows: 1. Boad of Commissioners, execute the supervision function by conducting the Board of commissioners and Directors Meeting regularly such as the monthly management performance evaluation or incidental regarding the current condition of BSM. Besides, Board of Commissioners is assisted by 3 (three) committees, that Audit Committee, Risk Monitor Committee and Remuneration and Nomination Committee. 2. Directors, implement the policy and strategy in accordance with the Bank Business Plan which has been approved by board of Commissioners, and reported frequently BSM performance to the Board of Commissioners, Directors assisted by Internal Audit Unit which is efective and independent. 3. The Control Culture, Board of Commissioners and Directors and all BSM employees have committed to realize a company culture which has been agreed and stated in written and the implementation is monitored continolusly, covering Excellence, Teamwork, Humanity, Integrity, dan Customer Focus (ETHIC). 4. The Risk Identification and Assessment. BSM always develops the implementation of Enterprise Risk Management (ERM) as an effort to guard the sound and sustainable growth of the Bank and to fulfil the Bank Indonesia Regulation. The Risk Management Task Force currently equipped with the plocy, the availability of of procedureand the risk limit implementation, the availability of identification process, measuring, surveilance, controling of the risk as well as the comprehensive risk management inforamation system.
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5. The Controlling and Segregation of Function, the effective internal control requires the availbalility of the controlling activities including the policy stipulation and earlier controlling procedure in order to ensure that the concerned policy and procedure consistently obeyed and becomes indispensible activity from the activities . The implementation of controlling and compliance function (named DKM) and Compliance Supervision & Customer Recognition Principle (named PKP) which is placed in the working unit of Head Office and Branch Offices. Infrastructure and set of the compliance controlling will be described in other segment of this Annual Report. 6. The Accounting, Inforamation and Communication System, BSM has owned a sufficient accounting and information system and keeps being developed in line with the implementation of the core banking system to face the growing Bank business coplexity. The transparent BSM financial statement Audit is conducted by the registered Public Accountant Firm at Bank Indonesia and gained approval from Shareholder Geneal Meeting. The implementation of the risk mamagement and BSM information tecnology system is intended to support the easy accessability fro the customers and the one stop shopping bank which remains refer to PBI No.9/15/ PBI/2007 about the Implementation of Risk Management in the Information Technology Usage by the General Bank.
VIII. System, Procedure and Control BSM has established a System Procedure and Control Division through the General Circular Letter No. 8/)!%/UMM dated 9 November 2006 which is responsible to arrange a clear system and procedure in supporting the overall BSM target achievement Besides, DSP also works to ensure the control on collectibility financing 1 and 2 which has been conducted so that the number of downgraded debitors does not exceed the number of upgrated debitors. One of DSP work program in 2010 is the risk management consolidation with Bank Mandiri as the implementation of Bank Indonesia Regulation No8/6/PBI/2006 regarding the Risk Management Implementation consolidatedly for Bank which conducts controlling to the subsidiaries. Two consolidation program of risk management which becomes the function of DSP are: 1. Establish Architure of the Policy and BSM Procedure as well as ensure all policies and procedures well-governed and provide legal certainty for the work actions that performed by each level of BSM.
To support the effort, some responsibilities given to DSP among others: a. Ensure the bank the bank operational manual availbility which is oriented to the service speed and the tight controlling fuction.
b. Ensure the bank customer watch has been implemented in the collective financing 1 and 2 (IDR 1 billion above) so that giving impact on the controlled financing quality. c. Ensure the handling of the financing security supportive aspects have been implemented in accordance with the existing guidance/ regulations. d. Maintain the certification of ISO:2008 in financing and service sector. The Policy and Procedure of BSM consisting of: a. Article of Association, is the core rules which includes the objectives and activities of the bank business as well as roles and responsibilityof the shareholders, board of commissioners and as well as the directors in governed and watch the the bank. The Statutes is stipulated based on The Shareholder General Meeting decrees and becomes the highest level in the bank internal rules hirarchy. b. Policy Level. Policy is a series of priciples that becomes the outline and the plan basis in conducting a task to reach the stipulated target. BSM has 2 (two) cores of Bank Syariah Mandiri Internal control policy Pillars (named KPIBSM). While in the organization structure there are 3 (three) groups policy covering Business Policy, Operational and control Policies. c. Procedure level is a group of core rules which is technical and a guidance to the products/ service or other activities. Procedure and Standard Operating Procedure (SOP) is equipped wtih step by step method, becoming guidance for the user. The Architechture of Financing Policy is the basis for the establishment of BSM regulations that will countinously perfected and arranged in the year to come. 2. The Application of Watch List Tools: a. Detect earlier the debitors categorized Watch List b. Identify factors that cause a debitor enters the group of Watch List so that accurate suggestions can be given to solve it. c. Give the needed information to the authority holder through Note of Review Account Watch List in deciding an account strategy and / or acts to be taken in peventing the debitor collectibility and / or expected to be able to improve the collectibility debitor becomes current. Other than the above mentioned programs, there are other DSP important programs, namely:
1. Arrange and update the operational provision of bank to ensure the fulfilment of basic law on all bank operational activities. 2. Review the rules which will be issued by Project Owner Working Unit through the active involvement in committee Decree of System and Procedure of Working Unit (named KKS). DSP becomes Working Unit which is obliged to be involved other than Compliance Division, Risk Management Division and Project Owner. 3. Maintain and facilitate and transform the certification ISO 9001: 2000 into certification of ISO9001:2008 (renewal) 4. Conduct Watch and the problem Financing Solution Clinic incorporated with the Restructurization Division and the Financing Solution in Branch areas which have the relatively high risk/ Non performing Financial Potentials 5. The implementation of the clinic is intended to accelerate the non performing finance handling which finally will decrease the quality of Non Performing Financing of the Bank. 6. Prevent the collectibility financing of 1 (one) and 2 (two) down graded and conduct education to the financing business Unit to improve the non –current financing quality, through: a. Conducting NPF Control Forum monthly to discuss the best solution in handling NPF Bank. b. Conducting on site to the Financing Management busines Unit having relatively high potential to non performance financing. c. Monitor the financing condition with outstanding RP 1 billion above 7. Accelerate the NPF transfer having outstanding 1 billion above to Restructuring Division or The Financing Completion Division. 8. Monitor the financing of Financing Management working unit which will be matury period and remind the concerned working unit to do the completion/ handling the financing in accordance with the existing terms. 9. Request the Financing management Business Unit to re-assess the financing and control the follow up activities. 10. Requesting Financing Management Unit business to extend the colateral insurance that will be maturity period in 1 month forward and control the follow up. 11. Request the Financing Management Business Unit to re-assess on the collateral that the assessment period has been over 12 months and control the follow up.
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12. Perform analysis on the financing portfolio development of the Financing Management Unit periodically and remind the financing Management Business Unit to conduct improvement and prevention effort to the down grade.
submit the review/ examination result according to the defined maturity date, so the Working Units shall be deemed to have approved the contents of the draft provisions in question.
As of December 2010, DSP has successfully realized the overall stipulated targets in the Bank Business Plan with some important remarks: 1. The performance enhancement and working unit service consistently implementing the company shared value (ETHIC)
3. The Project Owner perfected the condition concept based on the input from the concerned Working Unit the latest 4 work days. If there is difference of principle understanding, Project Owner is obliged to discuss/ follow up ther problem resolution (in meeting). The meeting is conducted with the purpose of finding the best solution for the bank, including conducting the follow up discussion or if necessary can be presented in the Division Head Meeting (named Rakadiv)
2. Consistently supported the measured zero defect program through gaining the score of Zero Defect Index (ZDI) and the Division Compliance Index that gaining was always above the stipulated target.
4. If necessary conducted a meeting of regarding the condition material, so the meeting is conducted and chaired by the Project Owner.
Formulation step of The Bank Provision: 1. Project Owner: a. Formulate the provisions draft with the format refering the provision of the provision making procedure, among others: 1) Product, service and other activities; 2) Stipulating the intention and objective of a handling process/ procedure; 3) Various important matters needed to be stipulated and/ or willing to be reached, that later will be the operational implementation manual. b. Inventory the material main content, including necessary/ not the guidance of the Sharia Supervisory Board regarding product/ operational process stated in the concerned provisions. c. Pre- review on syari’i aspects, risk management, internal control, security, legal, and compliance or accounting/ reporting the related with the made Bank provisions materials. d. Stipulate the parties (obliged and suggested) related to the problems or the concerned Bank provisions Materials. e. Asking for clearance policy from Working Unit expertised in system and procedure, related the compliance of provisions with Architechture of Policy and BSM procedures. The Clearance policy by the Working Unit expertised in system procedure refering the existing provisions. f. Submit the provisions draft that has gained the clearance policy from working unit expertised in system procedure to other Working Unit (related) through memo to gain opinion, review or other inputs in accordance with the assignment sector of the concerned Working Unit. 2. Based on memo point 1.f mentioned above, working Unit related to conduct review to the provision that have been received and given feedback the latest 5 (five) work days from the received memo date. The Review is under the responsibility of System procedure Working Unit and Working Unit Head. If the working unit does not
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5. The final Bank Regulations (revised), is made the KKS page by the Project Owner and request the decree to System Procedure PIC and the concerned Working Unit Head using the attached KKS page. 6. System Procedure PIC and concerned Working Unit Head signs the KKS page as agreement evidence on the Bank Regulation the latest 2 (two) workdays. If there is a more detailed response can be stated in the feedback page (KKS attachment) or the seperated memo. Then, System Procedure PIC returns the KKS page to the Bank stipulated Project Owner. 7. The Project Owner requests the agreement/ approval to Director and Commissioner by attaching the having approved KKS page (signed) by System Procedure PIC and Working Unit Head.
Provisions Issuance In 2010 there were 16 provisions that have been issued covering general, operational and financing sector: 1. Circular Letter No 12/019/UMM dated 27 December 2010 regarding the revised Regulation on Working Unit System Procedure Decree. 2. Circular Letter No. 12/009/UMM dated 23 September 2010 regarding Memorandum Making Procedure of Operational Manual. 3. Circular Letter No 12/002/UMM dated 2 January 2010 regarding The Revision on Circular Letter No.7/027/UMM dated 1 November 2005 regarding: Working Unit System Procedure Committee Decree. 4. Circular Letter No 12/049/OPS dated 23 December 2010 regarding Revision on Service Quality System Manual. 5. Circular Letter No. 12/043/ OPS dated 26 November 2010 regarding Revision on The Services Transaction Manual.
6. Circular Letter No 12/042/OPS dated 15 November 2010 regarding Revision on Fund Raising Manual. 7. Circular Letter No 12/014/OPS dated 23 March 2010 regarding the replacement Stipulation of Cash Office Manager at the time leaving the office while conducting Marketing/ Funding outside the office at office operational Hours. 8. The circular Letter No 12/004./004/OPS dated 1 February 2010 regarding the Revision on Cash and Teller Manual. 9. Circular Letter no 12/042/PEM dated 27 December 2010 regarding Revision on Financing Chapter XIII of Collecting Standard Operating procedure 10. Circular Letter no 12/040/PEM dated 15 December 2010 regarding The Commercial Financing Watch List Analysis Method 11. Circular Letter no 12/039/PEM dated 14 December 2010 regarding Revision on the financing Sector Quality Manual. 12. Circular Letter no 12/034/PEM dated 11 November 2010 regarding the Provisions of Colateral Liquidation Procedure. 13. Circular Letter no 12/025/PEM dated 20 September 2010 regarding Revision on The Non performing Financing Handling Provisions. 14. Circular Letter no 12/042/PEM dated September 2010 regarding the Formation of the Collecting Special Task Force of Branch Office 15. Circular Letter no 12/042/PEM dated 1 September 2010 regarding Standard Operating Procedure of the Securities Investment. 16. Circular Letter no 12/042/PEM dated 25 March 2010 regarding The Procedure of The Musyarakah or Mudharabah Financing Administrative Extension.
Consitency in Fulfilling ISO Standard Bank Syariah Mandiri adopts the ISO 9001:2008 requirements in governing the financing (loan management) and service (front liner services) and having gained the certificate of ISO 9001:2008 (formerly ISO 9001:2000) since 2004. The certificate is issued by Certification Board of Lloyd Register Quality Assurance (LRQA). This certificate periodically reviewed its feasibility by LRQA through surveillance (once in 6 months) and a 3 year renewal). The certificate acceptance is consistently maintained by: 1. Conduct internal quality audit at 13 branches which is sampling of certication program.
2. Monitor and follow up the finding improvement in implementing internal quality audit, surveillance visit and program renewal by Certification Board. 3. Conduct management review meeting once in a year to discuss the quality system performance and determine the future improvement efforts (continual improvement). 4. Revise the quality manual related with the quality system requirement convertion from ISO 9001:2000 becomes ISO 9001:2008.
The Development of System Procedure Decree Committee To support the implementation of good and sound bank governance, so the Bank has to complete its operational implementation with sets of external and internal rules which is up to date. In line with the above mentioned matter, the Bank has to ensure that every issuance of provisions meets aspect of important to support the sound and productive banking operational. To realize the above mentioned matter, so every discussion/ finalization of the Bank provisions before being proposed the approval to Direcotors, is obliged to be discussed at sysdur Decree Committee (named KKS) Unit K. As an effort to advance the precautionary principle and implementing the internal control system so upon the Working Unit that are involved in every discussion/ finalization of the provisions namely: 1. Working Unit making/ proposing the provisions (project owner) 2. Working Unit expertising Sysdur 3. Working Unit expertising Risk Management 4. Working Unit expertising Compliance.
IX. Surveillance Activity and Correction Act upon the Abuse BSM has conducted the surveillance and evealuation upon the sufficiency of internal control continuously through the independent DAI to the operational units. DAI commits to implementing its function to ensure the effectivity of the reliable internal control system by evaluating and giving recommendation to the related management with: 1. Operational Effectivity and Efficiency 2. Accountability 3. Financial Statement Fairness 4. Compliance to the existing laws and provisions; 5. Good Corporate Governance.
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Each audit result has been presented to the Board of Commissioners or Audit Committee, President Director and Compliance Director. In carrying out its function of DAI based on the Internal Audit Charter and Code of Ethics of Internal Auditors. Role of DAI in strengthening (improvement) internal control systems, among others: 1. Continuous improvement internally through the renewal of the Internal Audit Manual; 2. Socialization and internalization of Internal Auditors Code of Ethics; 3. Become active partners (counterparts) of Board of Commissioners/ Audit Committee and as a non-permanent member of the Operational Working Group; 4. Developing Risk-Based Audit approach (RBA) in stages; 5. Support the implementation of Corporate Value of BSM, ie Excellence, Teamwork, Humanity, Integrity, Customer Focus (Ethics), in the context of the review of the control environment in all working unit of BSM; 6. Helping the Sharia Supervisory Board (SSB) in overseeing the implementation of sharia aspects on banking operations in a way to report the results of audit related to sharia aspects to the SSB; 7. Conducting socialization and coaching regarding the effectiveness of internal control at the exit meeting of audit and in-house training, both for employees and executive officers, among others, through Branch Operations, Management Trainee Program, and others; 8. DAI always develops a partnership role with the auditee/customer in a consistent and sustainable, including through effective communication in addressing all audit findings, so that the auditee/ customer can understand the risks of existing deviation.
X. Number of Deviations (Internal Fraud) Internal fraud is a distortion / fraud conducted by management, fixed employees, and temporary and outsourced employee related to work processes and operational activities which affect the financial condition of BSM significantly. Significant means if the deviation effect is valuable more than Rp 100,000,000 (one hundred million rupiahs).
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Jumlah penyimpangan internal dapat dilihat pada tabel sebagai berikut: Total Issues Issue BOD and BOC
Employee
2008 2009 2010 2008 2009 2010
Total fraud
0 0 0 19 12 3
Has Been accomplised
0
0
0
9
12
0
In process of accom- plishment
0
0
0
10
0
3
Has not been proceed of accomplishment
0
0
0
0
0
0
Has been followed up through legal process
0
0
0
0
0
0
To improve the prevention of internal fraud, BSM attempts to undertake the following steps: 1. Application of punishment compliance through Guidance Letter of Working Unit Compliance (SPKU) for any potential fraud; 2. Insertion of direction of fraud prevention in employee training, among others, through Basic Training and Operations Branch; 3. Monitoring and optimization of ORMIS and inputting of PKP for the findings of branch violations into Records of Corrective Action and Prevention (CTKP) at SIK; 4. Preparation of Circular specifically about Internal Fraud by imposing Fraud Post Office Box; 5. Preliminary socialization of use of Fraud Box in SIK before Circular usage; 6. Management of Track Record database of officials / employees of BSM with respect to violations of non-compliance or fraud; BSM is committed to solve problems of irregularities internally in accordance with the applicable regulatory framework and will be processed fairly and put forward the principles of good corporate governance.
S. System and Technology Report BSM’s work program which is implemented in 2010 aimed to support the project 201.040 and perfecting what has been developed in 2009. Innovations that are adjusted to the development of current Information Technology (IT) is to increase the competitiveness of BSM in the banking industry. 201.040 project which was implemented in 2010, became critical factors that encourage the re-engineering of IT infrastructure and application systems of BSM. To establish that, in 2010 adopted a strategy that is able to ensure strong support for the work program of BSM.
I. Optimal Service In its effort to “BSM better legacy for better Indonesia”, BSM is always trying to provide the best banking technology services to its customers through: 1. Developing e-banking features on an ongoing basis, among others: a. payment EDC features and PIN-Card decentralization b. SISKOHAT on-line c. e-banking features (account to cash) d. e-banking payment features (delivery channel) e. remittance (account to cash) f. SMS notification 2. Re-engineering IT environment gradually through: a. Transformation Core Banking System (CBS) was conducted to implement, namely: 1) Comply with Bank Indonesia (BI) which is poured on the attachment circular letter of Bank Indonesia (BI) Number 9/30/DPNP/2007 on 30 November 2007, Chapter 1.2.6 about “Management Information System“ and Chapter 3.3.2 about “Capacity Planning Policy“. 2) Supports three (3) of the missions of BSM: a) Achieved sustainable growth and profits. b) Prioritized consumer fund-raising and distribution of consumer financing in the SME segment. c) Carried out bank operations according to the health standard banking. Implementation CBS transformation is a continuation series of processes of development of new core banking system. (iBSM: integrated banking system modules): The implementation of CBS transformation covered: (1) Development of the new CBS system: - development of CBS modules, - reengineering Chart of Account (COA), restructuring outlet code, (2) application architecture transformation, (3) infrastructure transformation, (4) business process transformation, and (5) Standard Operating Procedure (SOP) transformation.
Implementation of the new CBS started since kick off meeting of development projects (on 23 October 2009). In 2010, CBS team continued a series of processes that have been done before in the construction of a new CBS that begin with: (1) bussines requirement (BR) review of CBS modules, (2) system development, (3) testing CBS, (4) users training.
While the provision of infrastructure in supporting the CBS transformation has done in parallel during the development process of CBS takes place. The Company has made the process of core banking application procurement to build a new core banking application by specifying the vendor Temenos Headquarters SA as principal and PT Anabatic Technologies as a local vendor.
Furthermore, the kick off for process of core banking implementation had been done and until the end of 2010 the Company had completed the testing phase. Construction of CBS until the end of 2010, there are several steps that have not been completed or still in the process, among others: CBS testing process and users training. There are also some steps that have not implemented such: (1) migration data & reconciliation, (2) parallel run system and (3) cut-off old system. This problem occurs because of several stages that are not completed on schedule. So that some stages that have not been completed, will be carried forward in 2011.
b. Improved customers service in BSM outlets through the implementation of electronic data capture (EDC) to: 1) Provide optimal support to the BSM outlets so that the provision of ATM card PIN are no longer centralized at the headquarters. 2) Increasing fee-based income for BSM. c. Increased function of data communication network (infrastructure transformation) through internet network availabililty, bandwith manager availability and upgrade bandwith, to: 1) Provided optimal support on the new CBS system 2) Ensuring availability of network data 24x7 to provide adequate operational. d. LANDesk Application, Fire-wall and desktop standarization as the carrying capacity of the IT Security application. e. Applied a roll-out of communication network systems and applications of the DST-BSM to third-party services (outsourcing)
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II. Application of Bank Indonesia Provisions Information Technology (IT) usage can increase the risks faced by banks including BSM. In order to eliminate such risks, BSM responded by implementing effective risk management and phased in accordance with: (1) Bank Indonesia Regulation (PBI) Number 9/15/PBI/2007 regarding Application of Risk Management in Information Technology usage by Commercial Banks, and (2) Bank Indonesia Circular Letter (SE BI) Number 9/30/DPNP dated 12 December 2007 regarding Application of Risk Management in the Use of Information Technology by Commercial Banks. In the application of risk management, BSM has conducted the following steps: 1. Active supervision by the Board of Commissioner and Board of Director for the IT usage. 2. Complement and develop policies and procedures for IT usage. In this regard, BSM has been creating and perfecting the IT usage policies and procedures of the various aspects of risk management among others: a. Circular Letter (SE) of Standardization of BSM Data Communication Network Devices. b. Circular Letter (SE) of Computer Software Standardization Work in BSM. c. Circular Letter (SE) of Access Authority Management System. d. Standard Operating Procedure of Job Scheduling. e. Circular Letter (SE) of Standardization Use of Hardware, Backup System and Restore Data in BSM
EDC, (7) build applications of e-procurement, inventory control & IT asset management, (8) support the strengthening of IT infrastructure, (9) increasing CBS data security, eBanking and IT asset, and (10) implementing desktop standardization.
3. Refining the process of identification, measurement, monitoring and controlling the risks of using IT.
Bank Risk Management Report noticed that the influence of industry globalization, economic development and rapid industrial development resulted an increasingly fierce competition. These conditions encourage the Bank be more proactive to develop products and services that the Bank must improve risk management in an efficient and effective . Therefore, the Bank always make improvements and development in a sustainable implementation of risk management.
4. Conducting trials on the Disaster Recovery Plan (DRP) in February 2010 in accordance with the Bank Indonesia Provision which requires the Bank to conduct a trial DRP at least once a year by involving end users. 5. Switch the BSM data center management through outsourcing data center to PT Sigma Cipta Caraka and relocating data center to Surabaya (East Java).
With CBS implementation in 2011 and corporate plan transformation of 2011 to 2015 is expected to apply good “Non-stop banking operation” to customers.
T. Risk Management Report
Risk management implementation by the banks is expected of these benefits include: 1. Provision of information quickly and accurately to management in making business decisions that contain significant risks for banks;
6. Implement internal control system for use of IT. 2. Balancing the level of risk faced by the rate of return acceptable results from the various business activities of banks;
III. Strategy in 2011 To improve service quality and support the corporate strategy through Transformation II programs (corporate plan transformation and new core banking system transformation), in 2011 BSM will perform, among others: (1) supporting the transformation of corporate plan 2011, (2) continuing the process of CBS transformation, (3) build CBS middleware, (4) implementing link bandwidth standardize (256 kbps include backup link) in all BSM outlets, (5) developing applications
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3. Measurement of business performance-based risk, either transactional, portfolios, and bank-wide; 4. The efficient allocation of bank capital in a variety of risks faced by banks; 5. The increase corporate value for all stakeholders.
I. Risk Management Organization The Bank has a risk management organization that clearly stipulates limits on the authority and responsibilities of all levels organizations within the company. Bank applies the principle of separation function between risk-taking units, supporting unit and risk management unit. Risk owner for managing the risk is on each unit of related work. Application of risk management requires commitment and involvement of all parties within the organization. To encourage the application of effective risk management the bank has a Risk Management Committee (RMC). RMC which consists of Board of Directors member and executive officers serves to give recommendations to the President Director regarding policy direction and strategy of enterprise risk management. Duty of RMC includes formulating and development of policy, guidelines, and implementation strategy of risk management, so the bank’s business activities in line with the vision, mission, and business plan as stipulated. In carrying out its duties, RMC is assisted by the Working Group (WG) RMC consisting of WG Asset Liabilities Management (ALMA) & Financing and Operational WG. WG has the task of reviewing risks and provide recommendations on the situation and conditions of business state faced by bank.
II. Risk Management Framework Along with the development of the complexity of business, product, and network of bank, risk exposures of bank’s business is increasing. So business risk management is under control, the bank has a comprehensive and integrated risk management framework on all working unit, business line, product, and functional activity of bank. The focus of risk management in 2010 is the implementation of consolidated risk management with the holding company, updating policies and procedures, establishment of limits, and increasing of human resources competence.
1. Consolidation With Holding Company In order to synergize the application of risk management among subsidiary and holding company (Bank Mandiri), bank conducts consolidation of risk management. The consolidation of application of risk management with Bank Mandiri includes policy architecture & bank’s operational procedures, risk management tools, assessment of bank risk profile, risk-based audit (RBA), and risk awareness. 2. Policies and Procedures Bank continually updates the policy and related procedures of risk management application in line with the situation and business condition, including the banking climate in Indonesia. During year 2010 the bank has updated policies and procedures which include: a. Standard operating procedures of micro stall financing; b. Standard operating procedures of securities investment; c. Handling problems financing; d. Watch List method of commercial financing; e. Risk Acceptance Criteria (RAC) financing certain business sector; f. Guidelines for cash and the teller; g. Guidelines for implementation of Anti Money Laundering program (APU) and the Prevention of Terrorism Financing (PPT); h. Call Center Operational Guidelines; i. Access authority management system; j. Standardization of work computer software; k. Standardization of communications network devices; l. Assessment procedures and the use of the partners; m. Limit on portfolio of financing of certain business sectors; n. Limit on Secondary Reserve; o. Limit on Net Banking transaction; p. Management of loss expense occurs due to operational risk.
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3. Determination Limit As one of the efforts in managing the risks to match with capital owned, the Bank stipulates limits including: a. Limit on financing approval authority; b. Limit on exposure 25 biggest debtors; c. Limit on in-house legal lending; d. Limit on the financing portfolio for the economic sector & sub certain sectors; e. Limit on the foreign currency financing; f. Limit on the financing insurance coverage; g. Limit on treasury transaction; h. Limit on cash balances; i. Limit on operational transaction; j. Limit on Statutory Reserve; k. Limit on Net Open Position (PDN); l. Limit on secondary reserve. 4. Risk Management Certification Human Resources (HR) plays an important role in managing risk, so bank needs to constantly improve competence of all employees. To meet these and comply with Bank Indonesia provision, bank engages employees to take a certification examination of risk management. The number of bank employees who obtain certification risk management in 2010 are:
Level
Total Employees
I 388 II 87 III 21 IV 5 Total 501
III. Infrastructure and Risk Management Process Bank implements risk management in all operational activities in order to exposure of credit risk, market risk, liquidity risk, and operation risk can be controlled properly and adequately. 1. Credit Risk Bank should manage credit risk well and continuing to maintain a portfolio of fixed productive assets with good quality and benefit. Therefore the bank always make sure to avoid loss of financing quality so that the Non-Performance Financing (NPF) does not exceed the limit in accordance with Bank Indonesia regulation. a. Policies, Procedures, and Tools During 2010, the Bank made, reviewing and updating the policies, procedures, and credit risk tools in line with macroeconomic condition, business development, and change of government regulation or Bank Indonesia. Reviewing and updating include:
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1) Updating the bank’s business policy that covers investment policy and financing policy; 2) Development of standard operating procedures of financing for each business segment; 3) Limit of the termination of financing; 4) Guidelines for assessment of partnership; 5) Making scoring of financing for machine; 6) Updating the scoring for microfinance; 7) Update the ratingfor industry sectors; 8) Risk Acceptance Criteria (RAC) for some industries sectors such as health services, telecommunications and multifinance. 9) Development of Watch List tools. b. Limit on Financing Portfolio The Bank has a portfolio of guidelines for financing distributed in order to optimize the return in accordance with the level of risk faced (risk adjusted return). In addition to the portfolio guidelines, the bank also stipulates a limit to specific financing portfolio, namely: 1) Financing 25 biggest debtors; 2) Financing-consumer cooperatives; 3) The financing of foreign exchange; 4) Financing with collateral of investment attached (mudaraba muqayyadah) 5) Financing for housing; 6) Financing telecommunications; 7) Financing gas; 8) Financing multi-finance; 9) Financing oil palm plantations; 10) Financing coal mine; 11) Financing fuel distribution; 12) Financing health services; 13) Financing sea public transport; 14) Financing retail trade; 15) Financing agricultural crops. c. Financing Quality Monitoring Bank monitors and maintains the quality of financing by conducting: 1) Monitoring the condition of the business and financial performance of customers through Watch List tools; 2) Monitoring the development of portfolio quality of financing based on business segment, industrial sector, and financing schemes; 3) Stress testing of the situation / condition of macroeconomic and industry. One of the stress testing is to simulate against possible increases of Electricity Basic Tariff (TDL) with the scenario of price increase of TDL by 18%. Bank assumes that the increase of TDL will affect inflation with an increase of 0.3%. Based on scenario is the potential loss of quality financingof Bank does not show satisfactory results. Stress testingalso conducted to anticipate the effects of the crisis.
2. Market risk Bank faces market risks related to a portfolio of foreign exchange and securities category of Trading and Available for Sale (AFS) owned by bank.
In managing market risks, the Bank is continuously monitoring the exposure of risks regularly so it can minimize losses due to movement of market returns and changes in unfavorable exchange rates. Bank manages market risk through: a. Measurement of the maximum potential loss due to movement of exchange rate by using the Exponential Weighted Moving Average Model (EWMA). At the measurement, Bank uses the data of exchange volatility and PDN Position during certain period. b. Determination of PDN limit on foreign exchange position of the Bank. Bank stipulates internal limit of PDN at 5% of the bank capital. As of December 31, 2010, the position of the PDN Bank of 1.09% NOP or not exceed the specified limit. Bank reviews its limit periodically or when occurred change of the significant external conditions. c. Repricing gap measurements to measure the gap between assetsand obligations that are sensitive to change in the yield of market at each period. Bank takes measurements of repricing gap monthly. It is to know risks faced by bank in case of change in the level of yield of market.
3. Liquidity risk Liquidity risk related to the inability of the Bank to meet all maturity period liabilities within short term. Bank manages liquidity risk through the establishment of Risk Management Policy and Guidelines for Management of Funds, strategy and liquidity contingency plan. In managing liquidity risk, the Bank shall: a. Determination of the internal limit of Statutory Reserves (GWM) Rupiah and foreign exchange amounted to 5.04% and 3% from the average of DPK. As of December 31, 2010, the position of GWM Rupiah amount of 5.11% and foreign exchange GWM amounting to 5.98%. b. Determination of secondary reserve limit of 5% from the average of DPK. Secondary reserve position at 31 December 2010 is amounting to 13.16%. Besides, bank also stipulates a limit of other liquidity of the largest depositors limit and limit of the maximum cash balance that are adjusted to the needs. Bank reviews limits periodically pursuant to the situation and current condition. c. Placement on the financial instruments of Bank Indonesia and other short-term financial instruments as a backup of Bank liquidity. d. Measurement of adequacy of liquidity through the preparation of projections cashflow and liquidity gap regularly so that bank can use liquidity accurately and efficiently in line with the needs.
e. Access maintenance of Bank to interbank money market through the acquisition and granting of credit line from and to other bank. f. Monitoring of liquidity ratio, among others by conducting monitoring the ratio of financing to the third party fund, the ratio of interbank liabilities, and the ratio of cash to the third party funds. 4. Operational Risk Bank needs an integrated operational risk management so that operational activity of bank monitored and well controlled.
Internal process, system, people and external events are factors that trigger the occurrence of operational risks that can be detrimental to the bank. a. Usage software b. In identifying, measuring, monitoring, and controlling of operational risk, bank makes use of devices of Web-based software that is ORMIS (Operational Risk Management Information System). ORMIS devices used by all working units. In addition, bank also makes usage of tools developed to manage the operational risks of LED (Loss Event Database), RCSA (Risk and Control Self Assessment), and KRI (Key Risk Indicators). Throughout the year 2010 the Bank continued to do the development and improvement of the quality of operation risk tools. c. Operational risk capital adequacy calculation. d. Bank has calculated the capital adequacy of operational risk using basic indicator approach, which incorporating elements of ATMR although Bank Indonesia has not required it to Sharia bank. Bank conducts this as an initiative to convince stakeholders that the Bank’s capital is sufficient to cover potential losses posed by operational risk. In addition, the Bank also performs the management of risk of operational loss provisioning. e. Application of Risk Management of Information Technology f. Bank applies risk management to information technology (IT) which plays an important role as core banking business. IT risk management, among others applied to the design process of a system development until the final stages. Through the User Acceptance Test (UAT), bank can identify and make improvements of vulnerabilities found, before the system used by the user g. The Bank also has developed policies and procedures regarding the utilization of information technology namely: standardization of data communications network device; standardization of software device; access authority management system; and development of electronic banking services in terms of accessibility security. h. Business Continuity Management (BCM) i. In order to sustain the bank’s business and as a step to minimize operational risk caused by disruption / disaster, the bank formulates policy of Business Continuity Management
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Good Corporate Governance
j.
(BCM). Determination of BCM policy includes active monitoring of management, Business Impact Analysis and Risk Assessment, Business Continuity Plan (BCP), BCP testing and auditing on the implementation of the BCP. In practice, implementation of the BCM among others conducted through the formulation of BCP guidelines comprising the guidelines of Contingency Plan (CP) and the guidelines of Disaster Recovery Plan (DRP). The Bank has carried out the tests of DRP periodically to ensure the readiness of the IT system backup in case of emergency condition that could disrupt the bank’s business continuity. During 2010, the Bank has been testing the DRP twice.
IV. Risk Profile Assessment of risk profile aims to provide information to all stakeholders regarding the state of the business risks faced by bank. Risk profile includes assessment of the inheren risk and effectiveness of Risk Control System (RCS). Assessment of inherent risks is the assessment of the inherent risks to the Bank’s business activities, through quantitative analysis of the parameters in particular.
No Risk Type
Assessment as of December 2010 Risk Level Iheren
1 Credit
Low Acceptable
2 Market
Low Strong
3 Liquidity
Bank conducts RCS assessment in self-assessment through analysis qualitative to four aspects of the RCS Assessment which includes active supervision of the board of commissioners and directors, the adequacy of policies, procedures and establishment of limits, the adequacy of the measurement identification process, monitoring and risk control and information system of risk management as well as comprehensive internal control systems. The results of the assessment of each type of risk at the end of 2009 and 2010 are:
No Risk Type
Assessment as of December 2009 Risk Level Iheren
1 Credit
Risk Control System
Moderat Strong
2 Market
Low Strong
3 Liquidity
Low
Strong
4 Operational
Low
Strong
5 Legal
Low
Acceptable
Low
Acceptable
6 Reputation 7 Strategic
Moderat Strong
8 Compliance
Low
Strong
Predicate of Bank Risk overall
Low
Strong
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PT Bank Syariah Mandiri Annual Report 2010
Risk Control System
4 Operational
Low
Strong
Moderat
Acceptable
5 Legal
Low
Acceptable
6 Reputation
Low
Acceptable
7 Strategic
Low Strong
8 Compliance
Low
Strong
Predicate of Bank Risk overall
Low
Strong
Based on the risk profile as of December 2010, most of the inherent risk of Bank predicated low and risk control system predicated strong to acceptable. Composite risk predicate of Bank overall was low with a stable trend.
U. Compliance Report Reporting related to compliance functions to Bank Indonesia regarding Principles of Implementation of Compliance Director’s Task runs routine per semester. Compliance report reflects compliance of BSM to the laws and applicable regulations including Sharia principles for Sharia Commercial Bank. Disobedient BSM to the laws and regulations impacts sanctions from the regulator which can pollute the reputation of BSM in stakeholders point of view. Therefore, BSM keeps its self to protected from all forms of sanctions, both written reprimand, reduction insoundness of bank, freezing of certain business activities as well as dismissal of the bank management.
On this basis, the compliance function becomes very important for BSM to support the management of Compliance Risk faced by BSM in accordance with the development of BSM business in the future. All the potential risks Compliance which predicted, able to be mitigated well, so it can minimize the risk of Compliance for BSM. All level of BSM must understand all the provisions of the applicable laws to each daily operational functions. Thus, compliance is the responsibility of each individual in BSM and not solely the responsibility of the Compliance Working Unit (SKK). Compliance Culture is an important element of all activities undertaken by BSM starts from the highest level of the Board of Directors to the lowest level of employee of BSM Compliance Division as SKK coordinates the implementation of the compliance function and ensure the understanding of the BSM line to the BSM’s all rules have been implemented well through the sound banking practice in accordance with the applicable regulations.
I. Compliance Application Compliance Application of BSM during 2010 went well, where determination of one of the Directors as Compliance Director through GMS in accordance with Bank Indonesia. Organizational revitalization of Compliance has been realized, anticipated business developments of BSM greater. In addition, BSM has been running Compliance Procedures in order to meet the entire Bank Indonesia regulation and the pertinent laws. Compliance index of BSM for the first semester of 2010 amounting to 87.20 (predicate level of compliance “High”) increased compared to the second Semester of 2009 amounted to 92.79 (predicate level of compliance “high”). This, suggests that assurance activities of ompliance with all operational BSM have been optimal implemented by the Compliance Director including the line below it namely the Division of Compliance with Compliance Supervision Section organs Compliance, The Compliance Testing, Compliance Systems Section, GCG Development Section, Section Monitoring and Supporting, and Anti-
Money Laundering Unit (APU) and Prevention of Terrorists Funding (PPT).
II. Compliance Supervision Having task of ensuring the implementation of operational working unit of branch / division related to the financing and non financing have complied regulatory provisions. Task of compliance monitoring carried out by Supervision of Compliance (PKP) through: a. Prevent Prevention of PKP from the disobedient level to the regulation / not prudent, through the Compliance Certificate (CC), the Committee of System and Procedures (Sisdur) Decision (KKS), Compliance Note (CN), Compliance Opinion (CO), Regulation Index (RI), APU & PPT, GCG. b. Monitor Monitoring of the working unit activities by PKP in order not to deviate of regulation, through reviews, list of Follow-Up Monitoring (DMTL), Report, Compliance Information Systems (SIK). c. watch Preservation for policy / decision of Directors remains compliant, through socialization, Education & Training, Reading & Discussion (RD), Compliance On Site Supervision (COSS), Corrective Action Notes & Prevention (CTKP), Whistle Blower System (WBS). PKP in carrying out their duties become an independent strategic partner with the head of working unit and all the underneath level. Successful compliance supervision and escort implementation of BSM measured on an index of compliance. as a strategic effort to see “the level of compliance” working unit of BSM as a whole. The results of index measurements used by management and the level of the working unit to perform corrective measures and increase of compliance.
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III. Compliance system BSM’s Compliance system has been implemented through a series of process and stages to ensure the compliance of BSM to the applicable regulation including: 1. Compliance Procedures (Compliance Procedures) Is to build awareness of all level of BSM to the working procedures and compliance procedures at Head Office and Branch Office. Compliance procedure has been implemented by BSM to ensure that rules and working procedures have been implemented by the working unit. The Compliance procedure is implemented using checksheet as a working device that can help the branchto monitor the working procedures that have not been implemented by related working unit. BSM has implemented 14 checksheets of Compliance Procedures in the Branch, namely the Head of Branch, Marketing Manager, Operations Manager, Accounts Officer, Legal Officer, Loan Administration & Trade Service Officer, Pawn Officer, Customer Service Officer, Head Teller, Marketing Support Executive, Customer Service, Teller, Administration and Back Office. In addition there were 5 Procedures of Compliance in the Division of Head Office, namely the HPD, DHC, DST, DKN and DOP. 2. Compliance Review Is to ensure that any provisions, policy and standard of operational Procedures of BSM in line with prevailing regulation both Laws, the Regulation of Bank Indonesia, Circular Letter of Bank Indonesia, the Fatwa of National Sharia Council, and other external provision. Compliance review process is affirmed through the existence of Systems and Procedures Committee. 3. Compliance Opinion and Compliance Note Compliance opinion is a form of submission of the compliance opinion to the President Director on policy that will betaken, especially policy that are strategic and operational. In addition, the Compliance Division may also provides input to the Compliance Director or other Working Unit related to the decision-making. 4. External Regulation Review Is a review of the external regulation submitted to the Compliance Director to see the impact on the BSM. This study is a manifestation of the implementation of Good Corporate Governance, especially the principle of Professionals. This study is also presented to the related working unit with the regulation in order to be implemented properly. 5. Compliance Information System Compliance Information Systems (SIK) has increased function of the original form of the means of work has increased into compliance knowledge base. SIK is developed based on SIK Architecture (ASIK) who has 5 main pillars namely Corporate Prudentiality,
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Computerized Activities, Self Compliance Identification, Sharia Compliance and Compliance Management Information System. Applications that have been developed through SIK among others: a. Performance Measurement of Branch PKP by using the Key Performance Indicator (KPI) that are adjusted to the object of examination in the Branch. Thus the performance of Branch PKP can be measured in monthly period, quarterly, semiannual and annual. b. Folder of regulation that allow all employees of BSM may seek the external provision with the final status of regulation (revoked, revised or still valid). The facility is also equipped with search engines for word, so that employees can look up into the provision of regulation content. c. Discrepancy report will inform the employee through push email sent by SIK, if there are balance sheet that is not normal in the Branch (including Sub-Branch and Cash office). d. The ability of SIK in conducting push email has also been applied in identifying any external regulation that have been published, particularly those related to the regulation of Bank Indonesia. If there are new regulations published through the website, the SIK will soon send an email to the related officials of the publication of the latest external regulations. e. Reminder of Report to the Third Parties have been developed SIK, so if there are reporting obligations to the Third Parties, which will be mature the SIK will send push email to the officer who handles reporting. f. Reporting Facility that is paperless, among others Compliance Procedure Report, Zero Defect Report, Compliance Certificate Report and Report of Branch PKP.
IV. Monitoring & Supporting The Implementation of Monitoring and Supporting of BSM Compliance during the year 2010, include: 1. The preparation of regular reports of monitoring the performance of good compliance monthly period to the Director of Compliance, the quarterly period to the President Director and to the Bank Indonesia for the semester period. 2. Coaching prudential compliance to ensure coaching compliance of DKN to the working unit that has not performed prudential well in accordance with the applicable provisions. 3. Specific monitoring related to the implementation of the New Core Banking System (NCBS) and Project 201,040, which is the target Market of BSM share in the Sharia banking industry with the target asset 40%. 4. Implementation of administrative support, budget monitoring and DKN compliance report for internal purposes as well as externally.
5. Monitoring of the realization of the compliance indexs including the Corporate Compliance Index (CCI), Compliance Risk Index (CRI), Compliance Certificate (CC), Compliance Self Assessment (CSA), Zero Defect (ZD), Regulation Index (RI), Compliance Division Index (DCI), Branch Compliance Index (BCI), PKP Performance and Know Your Customer (KYC) Index and Good Corporate Governance (GCG) Besides monitoring the realization of the work plan of Compliance Division as well as the budget has been stipulated in RKAD. The average value index of compliance in December 2010 at 93.38 increased 0.59 points compared to December 2009 of 92.79. This, as stated in the compliance index table below:
Compliance Index No Parameter
Period December 2009
1 Corporate Compliance Index (CCI) 2 Compliance Risk Index (CRI) 3 Compliance Certificate (CC) Compliance Self Assessment (CSA) 4 Zero Defect (ZD) 5 Regulation Index (RI) 6 Division Compliance Index (DCI) 7 Branch Compliance Index (BCI) 8 PKP Performance 9 APU dan PPT Index 10 Compliance Procedure Index 11 GCG Index
Score of Average Index
Position Des’10 (Weighted)
December 2010
Weight
Criteria
Score
4,99 4,97 5% 4,97 H 4,90 4,65 5% 4,65 H 100% 100% 10% 10,00 VH 98,00% 99,55% 10% 9,95 H 91,11 96,38 10% 9,64 H 97,62 96,82 5% 4,84 H 92,72 99,06 10% 9,91 H 84,68 84,36 10% 8,44 H 79,85 78,80 10% 7,88 M 87,06 85.72 10% 8,57 H - 96.92 5% 4,85 H 91,88 90,67 10% 9,07 H 92,79
93,38
100%
9,29
High
Note: The range of values and criteria of weights: CCI, CRI, RI and Compro of CC, CSA, ZD, DCI, BCI, PKP, APU & PPT, GCG and Average Index XX > 4.99 = ST,
XX > 9.99 = ST,
4 < XX < 4.99 = T,
8 < XX < 9.9 = T,
3 < XX < 4 = M,
7 < XX < 8 = M,
2 < XX < 3 = R,
6 < XX < 7 = R,
0 < XX < 2 = SR.
0 < XX < 6 = SR.
Description: (criteria for level of Compliance) VH= Very High, H = High, M = Moderate, L = Low, VL = Very Low The procedure for calculating the grade: CCI, CRI = weight x final position x 20 (CF). CC, CSA, ZD, RI, DCI, BCI, PKP perf., APU & PPT, COMPRO, GCG = Weight x end position Grade of average index = total sum of all weighted values: 10
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Good Corporate Governance
Monitoring GCG GCG implementation of BSM in 2010 increases better reflected in the follow-up of audit result Bank Indonesia on the implementation of GCG which gives a good assessment. This is also supported by awards obtained by BSM in the Annual Report Award (ARA) 2009 as the winner in the category of Non-Listed Finance Private which organized jointly by BI, Bapepam-LK, Ministry of SOE, the Ministry of Finance, KNKG and IAI. DKN coordinates the implementation of GCG Self Assessment (SA) specifically, for internal purposes of BSM, modify the checklist format of GCG for periodic assessments per semester. The Self Assessment as regulated in PBI and SEBI has been conducted pursuant to the applicable regulations.
b. Monitoring of CDD implementation and EDD by all working unit are conducted by way of scoring on checklist of CDD implementation and EDD which completed by SKAP officer of each working unit, including fulfillment of single CIF implementation, completeness and validity of consumer data as well as data cleansing. c. Correspondence relation with foreign bank has been supported by the exchange of information on the implementation of APU and PPT in each bank through AML Questionnaire.. 2. Effectiveness of Implementation of Anti Money Laundering (APU) and Prevention of Financing of Terrorism (PDF) a. Implementation of APU and PPT in the BSM has been in accordance with Law No.8 Year 2010 on the Prevention and Eradication of Money Laundering (PPTPPU).
BSM has perfected the Charter of Good Corporate Governance (GCG Charter) and the policy along with other related issuance of Bank Indonesia Regulation No.11/33/PBI/2009 on Implementation of GCG for Sharia Commercial Bank and Sharia Business Unit, in line with the principles of GCG in every level of BSM organization.
b. Pensuring the implementation of the APU and PPT up to the level ofworking unit which is onducted through the function of SKAP Officers in each Division,Branch Office, Sub-Branch Office and Cash Office as an extension of SKAP Headquarters.
Socialization is continuously conducted to the whole level of BSM through access of intranet (SE Bank), giving the material in Basic Training class as well as internal training program. The purpose of socialization is to make understanding of all level of the BSM can implement the principles of GCG in the daily working environment and avoiding deviate behavior which is incompatible with ethics and the applicable regulations.
c. Fulfillment of reporting obligation to the Reporting Centre and Financial Transaction and Analysis (PPATK) has been implemented in accordance with provisions through the Acquisition Transaction Report System (TRACES) and Participate in the Forum for IT PPATK to build a replacement system TRACES that is Ghatering Reports and Information Procesing System (GRIPS).
The implementation of Code of Conduct (CoC) continuously is conducted at Head Office, Branch Office and Office Network of BSM widely. If there is a conflict of interest or abuse of position which cause of fraud action from the level of BSM, it will be conducted notification to the related unit to resolve and follow up in accordance with applicable provisions with supervision of related division such as the Internal Audit Division (DAI), Risk Management Division (DMR), Network Division (DJN) and Compliance Division (NSC).
d. Meeting the demand of customer data by the authorities party have been met in accordance with the provisions related to the opening procedure of the banking secret data.
V. Anti-Money Laundering Unit (APU) And Prevention of Financing of Terrorism (PPT) (SKAP) 1. Effectiveness of Customer Due Diligence Application (CDD) and Enhanced Due Diligence (EDD) a. Application of CDD and the EDD have been carried out pursuant to PBI No.11/28/PBI/2009 on July 1, 2009 and BI and SEBI No.11/31/DPNP November 30, 2009.
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e. Improved monitoring systems at customer data of high risk and indications of suspicious transactions through the development of Information System program of APU and PPT (SIAP), which can be used exclusively by all SKAP Officers to detect profiles and high-risk customer transactions as well as reporting to the SKAP headquarters. SIAP also can be used generally by all employees of BSM to obtain information about APU and PPT as blacklist of customers, external and internal conditions, the module of training / socialization, case study and other information. f.
PPATK has conducted compliance audits of APU implementation and PPT to BSM and judged that BSM has been good and cooperative in participating of the enforcing the regime of Anti Money Laundering in Indonesia.
3. Effectiveness of Know Your Customer Application (KYC)) a. APU and PPT training program for all employees level of BSM have been undertaken both internally (in-class and e-learning) and externally (with the implementation of the program of BI, PPATK, FKDKP, etc.) by conducting in-class training, workshops, seminars, training, and forum of SKAP Officer. The number of employees who have received training of APU and PPT as of 31 December 2010 is the 3.013 employees of a total of 5.364 employees (56%). b. Test online has been carried out regularly (quarterly) toemployees to ensure that employees have understood about implementation of APU as well as PPT well c. Reward and punishment program have been implemented to the APU and PPT in the whole level of branches through assessment by the SKAP Officer and the evaluation results of SKAP Head Office. Reward is in the form of prizes and awards charter, punishment in the form of Letter of Compliance Development of Working Unit (SPKU). d. Screening process has been implemented in recruitment of new employee and researching track record to employees who get promotion to ensure that the relevant person is not related to money laundering and terrorism financing activities.
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Human Resources Report
Human Resources is the most important company asset because of their role as the subject of policy executor and operational activities in constituting the vision and mission of the company. In order to enhance the sustainable profesionalism and business performance, having been launched a development program of the quality professional human resources consistently through an integrated human resources management system.
A. Total Employees At the year end of 2010, BSM total employees reached 7.902 people, increasing by 3.358 people or 74% out of 4.544 people at the end of 2009. The employee distribution in 2010 is 962 (17%) at Head Office and 4.618 (83%) at 144 branch offices and outlets under branch coordination. The increment of total employees is proportional with BSM expansion through numberof branch Offices and under branch coordination in various regions. HR composition based on education level at the year end of 2010 is as follows:
Education Level
2009
2010
BSM Outsource BSM Outsource
S2-Master Degree 123 2 167 2 S1-Degree
2.485 150 4.622 174
D3-Diploma
386 48 680 56
Senior High
107 1.178 104 2.024
Junior High (Othres) 8 57 7 66 Total Overall total Employees
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PT Bank Syariah Mandiri Annual Report 2010
3.109 1.435 5.580 2.322 4.544
7.902
Human Resources composition based on career stages up to the end of 2010 is as follows:
Career Stages
2009
2010
1
0
Senior Vice President
16
18
Vice President
10
4
Assistant Vice President
59
63
Senior Manager
84
Executive Vice President
Manager
382
91
B. Recruitment BSM continuosly faces the challenges to realizing the business plan for the future. Efforts are conducted by giving the sufficient atttention to the development of Branch Office network including pawn outlets, micro financing, dan consumer financing. In the process of recruitment, BSM also uses e-recruitment technology through company website: www.Shariahmandiri.co.id dan https : //karir.Shariahmandiri.co.id.
574
C. Organization and Position The achievement employees in their respective work section will get the grade enhancement and promotion. In 2010, the employees who got the grade enhancement amounted of 1189 people and the number of promoted employees amounted of 1358 people. The promoted employees, either grade or position, are obliged to attend the administrative selection and competency test. The hard competency is assessed through e-learning media and behaviour competenty (soft) is assessed through competency assessment. Officer Development Program (ODP) is a program specialized for the promoted employees with the position enhancement. That employees from Operational position being promoted to Officer level. In 2010, the number of Operational position who attended ODP amounted of 281 employees. Various reward programs have been conducted by BSM for the employees. In 2010, the Management agreed the basic salary increment of the employees amounting in average of 14%. Work Unit Achievement Allowance (WUAA) is give to the employees referring the quarterly performance evaluation. The number of WUAA given to the employees during trimester amounted in average of 5,3 times of the basic salary. The employees receive the the highest WUAA amounted to 12,28 times of basic salary.
BSM Organization sustainably is adjusted in accordance with the business plan and business development plan. For that purpose, it is required a good corporate governance and balanced between strategy and supporting efforts in the form of reliable infrastructure. Organization, Position and Job Description structure are composed in the form Organizational Manual which is adjusted with BSM business need.
D. Remuneration and Reward System BSM always attept to enhance the employee welfare based on the performance achievement through the implentation of Cash Guaranteed scheme dan other employmentship facilities. Facing the more competitive era, BSM attempts to create an attractive and competitive remuneration package. The remuneration package keeps being reviewed to ensure that BSM employees get a competitive package. The employee work spirit continuosly enhanced through performance based rewards, among others are working unit achievement allowance program, annual bonus, achievement based incentives and granting the Master Degree scholarship.
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H Guman ood CR orporate esource Governance
E. Competency Competency is a concept which can be translated as a combination among knowledge, skill and behavior or known as Competency-Based Human Resources Management (CBHRM) CBHRM is an approach in establishing a leading humanistic human resources management system with the competency as the core. It means so that the company can increase the effectivity and consistent in implementing the system of recruitment, selection, promotion, compensation, performance appraisal, education and training, career plan, performance management and as well as strategic plan in Human Resources sector up to the optimum point.
F. Employee Development BSM gives learning opportunity for the employees in order to support them to conduct the best at their work and keeps developing their career. Training and development program are conducted to improve capability, capacity dan productivity of BSM employees in the term of in-house training, public training and as well as e-leaning. In 2010, in average BSM employees has attended 3,81 times training, the average learning hours of BSM employees are 77.04 hours and the training days of the employees were 5,35 days. BSM consistently increases the employee development budget by 32,92 billions increasing compared with 2009 amounting of Rp21,01 billion.
b. E-Learning content Augmentation No Name 1 Modul
2009 2010
Remark
336 899 -
e-learning 2
Modul
e-learning
125
tes online
3 Macro
6
137
-
12 l BSM Mobile Banking GPRS Module
media
l Pooling Fund Module
based l BSM Net Banking Module
1. System and e-learning updating a. The development of Learning Evaluation DataBASE (led) for BSM internal training
LED Application is an application to evaluate training covering:
learning l House financing Module modules l BSM Education Financing Module l Berencana BSM Saving Module l Investa Cendekia Module l Risk Characteristic Module, and l Banking Regulations l International Trade Modu
Evaluation
Type of Evaluation
Remark
Level I Evaluation performed to measure
46 training
participant satisfaction to the execution
programs
of training covering program, module,
instructor, and training organizer
Level II
Evaluation to measure the capability of
Program Officer
participant in absorbing training module
Development
through post test
Program (ODP):
position account
officer, micro ac
count officer,
pawn officer,
funding officer
and operational
officer
Level III
Evaluation to measure training
234 training
implementation in the field after 3
program
month post training.
l Operational Risk Characteristic Module l Corporate Governance for Bank Module l Regulation Framework in Indonesia Module and Risk Management Policy
2. Improving e-learning Utilities a. The understanding on Regulation/ SE through refreshment program and online test on e-learning. Remark
2009
2010
Growth
1.781
2.539
758
-
363
363
a. Recruitment of BSM employee candidates
70
134
64
b. b. Rotation/ Transfer
242
305
63
c. ODP (account officer, micro account officer,
453*)
275**)
-
Blended Leraning participants Competition on Sharia banking technical knowledge for frontliners Online test for employee career development
pawn, funding officer, operasional officer) *) Selection test for ODP candidates **) Assessment test for ODP
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PT Bank Syariah Mandiri Annual Report 2010
b. The understanding on regulation/ SE through refreshment and online test program on e-learning 1) The Number of SE being assessed are 42 SE, covering: GCG, Operational, financing, Risk Management, Internal control, etc. 2) The number of visits are 25.525 visits from all level bank staff 3) Total employees who took the SE refreshment test, starting form the position of operational up to branch/ division head are 4.252 examinees as follows:
3. E-learning Utility Data
Utilization of E-learning in 2009 and 2010
Remark
2009 2010 Growth
Training Programs
13
Module
91 125 10.27%
18
23.08%
Visits
48.302 70.038
45.00%
Visit Hours
29.614 48.234
62.88%
Learning Hours/ employee
81,77
94,96
16.13%
2009 2010 Growth
Employee Examinees Refreshment Test Year 2010 No
Position
Participants
Remark
1
Branch Manager
97
Regular Classes
226
2
Marketing Manager
64
Programs
146 161 10.27%
3
Operation Manajer
277
Participants
12.187 14.752 21.05%
4
KCP Manager
221
Regular Classes
226
5
Account Officer
443
Programs
146 161 10.27%
6
Head Teller
63
7
Branch Operation Manager
31
8
Cash Office Manager
28
9
Head/Deputy Head of Division/Desk/SKD/SAD
38
10
Team Leader
93
Average Total Employees*)
11
Section Head
41
Profit before tax
12
Officer non-title
13
Operation
352 2.504
2.50
250
10.62%
10.62%
2009 and 2010 Employee Productivity Remark
PPAP Exceeding (IDR Billion) Profit/Employee (IDR Million)
Des 2009
Des 2010
2779
4.147
419,65
583,32
62,68
206.10
173
190
*) exc. outsourching employee & basic employee Position of total BSM bank staff BSM on December 2010: 5.515
The productivity per employee of BSM increased by 9,83% from Rp 173 million at the end of 2009, became Rp 190 million at the end of 2010.
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Good Corporate Governance
Corporate Social Responsibility Report
BSM stipulates the Corporate Social Responsibility (CSR) as the corporate framework to achieve sustainability in the long term.
BSM believes that the company can grow and develop through other approaches by keeping ethical and responsible business practices. Therefore, BSM puts the Corporate Social Responsibility (CSR) as the corporate framework to reach sustainability in the long term. Sustainable business means that the company has maximized not only economic performance for the shareholders’ interest, but also comprehensively made efforts to give maximum contibution in social and environment aspects. Through tripple bottom lines approach covering economic indicators, environmental indicators, and social indicators, It’s expected that the BSM existence is beneficial not only to the shareholders but also to a great extent namely the people and the planet. In other words, BSM tries to optimalize its profit in line with the BSM objective to give the best benefit to the sociaty (people) and the invironment (planet). BSM believes that these comprehensive approaches will support the achievement of sustainable development namely the development activities performed to meet the needs of the current generation by not sacrificing the interests of the future generation.
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BSM believes that the company, the sociaty and the environment can proceed together to reach the same goal, BSM stipulates the CSR activities as the core strategy and makes it as the sources of innovation and efficiency to increase the corporate competitive advantage. This differs BSM from the companies that put the CSR activities as the corporate philantropy. BSM does not consider that the economic benefit (economic performance) of the corporate existence from the corporate contribution to gain the 2010 net profit of Rp419 billions (increasing 69.45% compared to the 2009 net profit of Rp291 billions), which then was given to the shareholders in dividend payment of NIL, but BSM also takes into account the economic distribution to its employees that in 2010 numbered 5,580 increasing from 4,544 in the previous year. Moreover, the corporate economic contribution is apparent in many payments to the goods and services suppliers, in donation, and in any other aid to people In social performance, BSM pays attention to the labour aspect including union rights, occupational health and safety (K3), education and training, and career development. In this aspect, the corporate always operates in line with the respect to human rights; applies nondiscrimination policy; doesn’t employ child, forced and compulsory labour; keeps in harmony with the people within the corporate vicinity; and upholds the existing norms in the society. In environmental performance, BSM is fully concerned on material usage, direct and indirect energy, water, emission content, and waste. The corporate optimally avoids operations that give negative impact to the environment.
A. Consumers’ Protection In performing its business activities, BSM always prioritize the customers’ satisfaction by serving the best services. BSM does not sell banking products that are safe and useful to the people, but BSM also gives the product responsibility. The corporate commitment to the consumers’ protection covers, among others: 1. The establishment of Customer Care 2. Customer Service Improvement Program 1. Customer Care BSM has established Customer Care. This Customer Care can be accessed through some channels, among others: a. Sharia Mandiri Call Center, 24-hour operation via phone (021) 5299 7755 b. Email: “mailto:
[email protected]” c. Customer service at the nearest BSM branches Through this Customer Care, BSM responds immediately to any complaint and gives reasonable solution. 2. Customer Service Improvement Program In order to improve the quality service to the customers, BSM conducts programs such as: a. Conducting various Service Excellence trainings for employees involving in customer service b. Customer service competition among work units c. Participating in several Awards held by external parties d. Organizing some promotion programs that involve customers, among others: i. BSM Gelegar Hadiah (Lottery) ii. BSM Friends (Customer Gets Customer). iii. BSM Fantasy (Immediate Gift) iv. Year End Cheer (Immediate Gift) v. Business Gathering with customers
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B. CSR Budget Sources
Virtue Fund Distribution in 2010 n In Million (IDR) No Tithe Distribution by LAZNAS BSM
As the realization of BSM commitment to make CSR activities as part of the core strategy, the corporate consistently provides reasonable and sufficient budget to support the the CSR programs that steadily increases. The implementation of CSR program in BSM has 2 (two) sources of fund, that is, Virtue Fund and Zakat Fund, as detailed below:ut: 1. Virtue Fund Virtue Fund comes from Fine, Illegal (Non Halal ) Earnings, and other Social Funds. Virtue Fund receipt per December 31st 2010 totalled Rp1.81 billions decreasing from Rp1.86 billions in the previous period and has distributed amount of Rp1.57 billions, decreasing from Rp3.20 billions of the previous period. The 2010 balance is Rp1.80 billions. The types of activities that got donation cover: mosque and schols construction/renovation, goats for farmers, aid for the victims of natural disaster in Jogyakarta, sanitary aid, book and computer distribution to schools in Jakarta and Majalengka, and others.
Nominal
1
Renovation of SD Muhammafiyah building
50
8-10 Banjarmasin
2
Pembangunan dan renovasi ruang kelas
Madrasah Al-Istiqomah-Bekasi
3
Harelip operation, Banggai Recency
Central Sulawesi
4
Empowering program for people within the vicinity
Syah Kuala University, Banda Aceh
5
CSR Be happy and Share in Banda Aceh
6
Goats for farmer in Gunung Kidul, Yogyakarta
7
Teaching-learning facility for Early Child Education
PAUD) Griya Kijang in Cinere
8
School computers equipments
24
9
Scholarship at KUR celebration
25
10
Authonomous Teacher Program in Bandung and
14.50 25
22 35
Sukabumi
2. Zakat Fund a. Zakat Fund comes from corporate (BSM) Zakat distributing through Corporate Zakat Institute - Lembaga Amil Zakat Nasional Bangun Sejahtera Mitra (LAZNAS BSM). In 2010, BSM distributed the 2008 and 2009 corporate Zakat of Rp15.77 billions via LAZNAS BSM, increasing from Rp2.89 billions of the suceeding year.
50
12.40
210
11
Accommodation for female university students in I
IQ Campus (Institut Ilmu Al Qur’an)
110 300
12
Public education on Haj pilgrim aware through movie
“Emak Ingin Naik Haji”
13
PKES Joint Secretariat Rent
14
Other Social aid with varied value 2-10
Total 1,570.63
50 2-10
b. LAZNAS BSM makes the distribution through useful and efficient programs, that is, Congregation Partner, Congregation Education, Congregation Symphaty to 21,524 persons (mustahikin)
Zakat Fund Distribution by LAZNAS BSM No
Programs
Remark
1 Congregation Community Economic Development Partner Program
Activities Mushroom cultivation Rabbit cultivation Capital loans for micro business
2 Congregation Education Assistance (Reguler/Schoolarship) Students Education ELM - HGH
Education Assistance (non reguler)
Region Bogor Bandung Surabaya Jakarta, Bogor Bandung, Surabaya Jabotabek
Mustahiq 100 25 100
1.743.716.596
30
1.559.449.800
2.276
ELM - HGH
Jabodetabek
3 Congregation Health Assistance Sympathy
Blood donor Mass/individual treatment Mass circumcision
Jakarta Jabodetabek, P. Seribu Jawa Barat
1.000 3.678 3.780
Social/Culture Assistance
Natural disasters assistance Orphans Assistance Distribution of National Qurban National Waqh Qurban Distribution School Facilities Assistance
Padang, Yogyakarta Jabodetabek Selindo Selindo Selindo
1.800 2.500 200 2.769 2.642
Total
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Nominal/Rp
224 6.279.701.010
21.124 9.582.867.406
LAZNAS BSM is the main partner of PT Bank Syariah Mandiri in CSR activities. The LAZNAS BSM establishment legalized by the RI Religious Affairs Minister No: 406 year 2002 on the Affirmation of Yayasan Bangun Sejahtera Mitra Umat as Lembaga Amil Zakat.
families. The activities were executed comprehensively both in the BSM Headquarter circles in Jakarta and in all branches across the nation.
Sanitary Improvement Program
C. Cooperation with LAZNAS BSM CSR Program, both in the BSM Headquarter and Branches, is arranged according to the well-done, accountable, and conceptual planning that refers to BSM policy. Several programs that BSM has are conducted collaboratively with BSM Lembaga Amil Zakat Nasional (LAZNAS). As the strategy to make CSR program planning efficient and useful, the implementation of CSR program is based on the survey findings and the mapping of environmental condition and the people. Then, the arranged program is executed by involving the people actively with buttom up mechanism and by partnering the other stakeholders. In order to make the program realize well and give maximum benefit, the program implementation method is adapted for the condition of each area and coordinated with the related parties, particularly the local government and the parties immediately involved.
The BSM CSR program on sanitary improvement in 2010 spent fund of Rp44.28 millions increasing from Rp41.85 millions of the 2009 realization. The CSR program on sanitary improvement focuses on the improvement of public sanitary within the corporate vicinity which was realized by giving sanitary aid and LAZNAS BSM blood donor implementation.
Socio-culture Program The BSM CSR program on socio-culture in 2010 spent fund of Rp1.99 billions increasing from Rp436.42 millions of the 2009 realization. The CSR program on socio-culture was realized by giving donation to low-income families, Ramadhan donation, aid to the victim of natural disaster, aid for the construction and renovation of mosque and madrasah, and other programs.
BSM CSR programs categorized into five aspects, that is: 1. Congregation Economy Development 2. Education Development Program 3. Sanitary Improvement Program 4. Socio-culture Program 5. Environment Conservation Program
Congregation Economy Development The CSR implementation on congregation economy development aims to create public autonomy in order to obtain the welfare progress in long term. The CSR program on this aspect is realized by giving financial capital, work facilities, and others. In 2010, there were some activities performed, among others, financial aid to empower public economy within the vicinity of Syeh Kuala University, Banda Aceh; goats for farmers in Gunung Kidul and Sabilun Najah, Jogjakarta; and also financial aid for business in Jabodetabek.
Education Development Program The BSM CSR program on education development in 2010 spent fund of Rp1.85 billions increasing from Rp1.27 billions of the 2009 realization. The program focuses on the improvement of education quality which was realized by granting scholarship to 15,594 students of low-income
Environment Conservation Program BBSM also consistently develops CSR programs for the environment conservation. The BSM CSR program on environment conservation in 2010 spent fund of Rp473.32 millions decreasing from Rp758.03 millions of the 2009 realization. The activities on the environment conservation conducted included, among others, planting mangrove. The activities were executed both in the BSM Headquarter in Jakarta and in all branches located in several regions.
D. Internal Activities Morning Prayer Forum Morning Prayer Forum is routinely performed on Monday mornings, from 07:45 to 08:30, at the third floor lobby of PT Bank Syariah Mandiri Headquarter. Morning Prayer Forum is attended by more than 700 persons, covering all lines of BSM Directors, the Heads of Division, the Heads of Desk, the Officers of II and III Regional Offices, the Heads of Jabodetabek Branches, and all employees of the BSM Headquarter. Morning Prayer Forum starts with prayer, and then there is Weekly Review – a presentation on corporate performance; followed by presentation from work unit informing the work program that is conducting.
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Morning Prayer Forum finishes with Spirit of the Week presentation, taking the core values of Shared Values ETHIC (Excellence, Teamwork, Humanity, Integrity, Customer Focus). Core values constitute the clarification of ETHIC values quoted from the verses in Ko’ran and Hadits. Morning Prayer Forum is a Transfer Knowledge Forum and Transparency Forum for all the BSM employees for: l All the Morning Prayer Forum participants get hot information on the corporate performance achhievement. l The Director provides guidelines for the achievement of the weekly performance presented. l All employees get information immediately from the very competent parties for the achievement of the corporate weekly performance. l All employees can learn immediately about how the management behaves and make the policy on the corporate dynamics. All employees who can’t attend the Morning Prayer Forum can get the the same information through recording and transliteration that was directed by the Director and that was uploaded in intranet by the Corporate Secretary.
Wednesday Afternoon Recitation Wednesday Afternoon Recitation is routinely performed on Wednesday afternoons, from 16:30 to 18:00 WIB, in Al-Ihsan mosque of PT Bank Syariah Mandiri Headquarter. The recitation is attended by all employees of the BSM Headquarter and Directors. The Wednesday Afternoon Recitation invites Moslem scholar (ulama) and intellectuals of various disciplines. Many different speakers and topics of the recitation aim to increasing the spiritual quality and broadening the horizon of the employees’ religiosity. Wednesday Afternoon Recitation is also performed in all branches throughout Indonesia.
BSM Club To accommodate the variety of communal activities, the Corporate established BSM Club, on November 1st 2006. BSM Club is an umbrella coordinating all the employees’ activities that used to operate separately in in different community. The establishment of employees’ community in BSM Club is to: 1. Boost employees’ familiarity, particularly across the work units and positions. 2. Channel the employees’ interests and talents. 3. Be part of “work and life” balance. 4. Support the corporate performance directly and indirectly.
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The corporate and the employee community are the integrated part and collaboratively result in positive output for the company and the employees. In BSM, employee community gets the full support from the management. The support can come in the facilities, the activity fund, the participation of the management lines in any employee community activity. Under the BSM Club, there are some active communities as follows: 1. Islamic Spituality Unit 2. Football Unit 3. Basketball Unit 4. Badminton Unit 5. Futsal Unitl 6. Tennis Unit 7. Motorcycle Club: Shariah Mandiri Touring (SMART) 8. Nature Lover Club: BSM Adventure 9. Bike Club: Shariah Mandiri Cycling (Smiling) 10. Photography Club: BSM Photography Club 11. Book Club: BSM Readers Club 12. BSM Fishing Club 13. Music and Art Club 14. Gymnastics Club
15. BSM Aikido Club 16. BSM Taekwondo Club
Mode by Bike Unit and Basketball Unit: The Champion at the Shariah Skills Competition by Karim Business Consulting. The Indonesian shariah finance institutes participated in the competition.
Routine Activities
BSM Adventure
Some routine exercises conducted are among others: football on ABC Senayan field on Sunday mornings, futsal in Planet Futsal Kelapa Gading on Sundays, routine aerobics with membership system for the BSM lady employees at Azzuhra Aerobics House in Kebon Kacang, tennis on Fridays at RSPAD Gatot Subroto tennis court, badminton on Wednesdays at Polisi Militer barracks in Tanah Abang, Aikido on Wednesdays at Wisma Mandiri lobby. Islamic Spirituality holds routine recitation on Mondays and organizes events on Islamic holidays, especially activities during Ramadhan for the whole month in BSM.
1. The chief of BSM Adventure took part in the Indonesian Climate Project team and attended training in Melbourne, Australia (2009) and in Nashville, USA (2010). The training in Melbourne was attended by Asian-Pasific countries, in which the BSM representative was one of the Indonesian fifty four presenters for the Climate Project aiming to getting solution to global warming. The Indonesian Climate Project is an activity created by Al Gore (former USA 1993-2001 vice president, the 2007 Nobel Peace Prize Winner).
Non Routine Activities
2. The BSM representatives participated in “Leadership on Climate Change” training, in January 2010, in Jakarta. This training was presented by Al Gore.
Some non routine activities conducted by BSM Club are among others:
SMART 27-30 May 2010 2-4 September 2010 3-6 December 2010 17-23 December 2010
Touring, destination Bandar Lampung Ramadhan Social Activity, venue Putra Setia Orphanage in Senen, and Balita Tunas Bangsa Orphanage in Cipayung, East Jakarta Touring, destination Pameungpeuk Pangandaran, West Java Touring, Jakarta-Sabang (Zero Km) Race
3. The program on planting trees on Papandayan Mountain, in Garut, West Java, on May 16th 2010. Previously, BSM Adventure ever took part in growing trees in the National Conservation area of the Pangrango Mountain, West Java (November 2008), and planting mangrove in the Kapuk Natural Park, Jakarta (April 2009).
BSM Smiling Club The community of Sharia Mandiri Cycling (Smiling) Club was officially established on September 2nd 2007, as bike lover organization in BSM. Now, Smiling Club community exists in almost all BSM branches. Smiling Club becomes an umbrella for employees to build familiarity besides as a cycling club for its members. Smiling Club membership ranges from the Board of Commissioners to the office boy.
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Smiling Club actively conducts cycling activities both off road and on road. Smiling Club exploration areas for offroad activities cover, among others, Bogor, Citeureup and its environs, Rindu Alam, Cikole (Tangkuban Perahu), Serpong Gas Pipe Lines (JPG), and Gunung Merapi. For on road activities, Smiling Club organizes internal activities and participates in cycling celebration in Thamrin and its environs and in Old Jakarta organized by other communities. Besides cycling activity, Smiling Club also performs social activities such as building Nurul Qur’an Library in Nurul Qur’an Islamic Boarding School, Bogor; conducting Halal-bi halal (asking and giving forgiveness) with TPA teachers in Cipayung Subdistrict, giving donation to orphans and to mosque activities in Gunung Merapi area. For its contribution to its members, corporate, and the people, Smiling Club, in 2010, was awarded The Most Inspirer Community at the 2010 Indonesian Consumunity organized by SWA magazine and Prasetya Mulya Bussiness School (PMBS). This Award is given to “organization” that inspires through its moral values and togetherness and that has many members.
BSM UMKM Award 2010 BSM for three years in a row organized the BSM UMKM Award in 2008, 2009, and 2010. The objective of the BSM UMKM Award was to appreciate the UMKMBSM customers in their loyalty and achievement for being UMKM debtors in BSM. The 2010 UMKM Award was divided into 3 categories, that is: 1. General Category: The best BSM UMKM debtor, consisting of 8 categories, that is: BPRS; KJKS/ KSU/BMT/Shariah Cooperative (Kopsyah); Workers’ Cooperative: TNI, POLRI, PNS; Workers’ Cooperative BUMN, BUMD Category; Workers’ Cooperative Private Category; Real Micro Sector; Real Small Sector: and Real Medium Sector.
2. Special Category: The special reward to debtor having program financing facility: SUP005; DNS KLH; KUR 3. Green UMKM Category: Appreciation to the UMKM customer that has great concerns and contributes much to the environment conservation.
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The 2008 – 2010 UMKM Awards Catagory 2008 General BPRS
2009
BPRS;
KJKS Shariah cooperative KJKS/KSU/BMT Workers’ Workers’ Cooperative
2010 BPRS KJKS/KSU/BMT/ Shariah cooperative Workers’ Cooperative
Cooperative
TNI POLRI PNS Workers’
TNI, POLRI, PNS; Workers’ Cooperative
TNI, POLRI, PNS Workers’ Cooperative
Cooperative BUMN, BUMD BUMN category BUMD BUMN
Workers’ Cooperative BUMD
Workers’
Micro real sector
Cooperative
Workers’ Cooperative
Micro real sector
Private Micro real sector
Private category Micro real sector
Medium real sector
Medium real sector
Medium real
sector
KUR SUP 005
Special
None
None
DNS KLH
SUP 005
KUR
Green None None
Appreciation to the UMKM customer that has great concerns and contributes much to the environment conservation
BSM Edu Award 2010 In 2010, BSM held the BSM Edu Award. Objective: to give appreciation to the teachers – both formal and informal teachers - who gave contribution and advantage to the people. There were 5 (five) nominators: Mukiman (49 years old): 20 years serving in Northern Aceh forest, Elih Sutisna Yanto (48 years old): choosing to be a teacher than to be a Manager Nurrohim (39 years old): the founder of “Master” (Masjid Terminal) school Een Sukesih (47 years old): serving with disability Nurhidayat (34 years old): local wisdom
BSM RC, a learning organization, aims that BSM employees become knowledge producers, not only knowledge consumers. BSM RC facilitates BSM employees to study, to enlighten thinking quality, to advance knowledge, and to apply the knowledge in corporation. BSM RC presents intellectualism climate and science-based discussion habit as the requirements for BSM employees to productively make work. BSM RC was launched in July 2009 at book review of Renald Kasali’s “Marketing in Crisis”. BSM RC performs monthly activity on books or book review. The existence of BSM RC encourages the BSM employees to understand and describe the events for which a book becomes a main reference. This forum was designed to make the knowledge sharing happen through: 1. BSM employee has the turn to become the key resource person who explains the content of the chosen book.
BSM Readers Club BSM Readers Club (RC) is one of the employee’s activitiy clubs under the BSM Club. This employee’s club that has motto: Read, Share, and Grow Together was established to facilitate the employees in an intensive study group. BSM RC considers that a dynamic and complex change causes the the latest knowledge soon to be outdated knowledge. Therefore, BSM organization is forced to continuously catch up with update knowledge and make innovation. BSM has purpose to be a learning organization. Therefore, BSM creates two breakthroughs on learning process for its employees through BSM E-learning program and BSM Readers Club.
2. Discussion invites responses or opinions from any other employee commenting on the content of the book form different perspectives. 3. Extra resource person, if any, respond to the topic being discussed. The Extra resource person can be a writer, an editor, and an expert. BSM RC chooses the relevant books with BSM condition. The book Titles discussed are various including mangement, popular popular psichology, Islam, nationalism, and social books. The presentation is made as effective as possible, in which the book launching is equipped with catchy audio-visual slides. At the end of the presentation, the
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discussion should always conclude the relevance of the book discussed on BSM, for example, at the The Speed of Trust (written by Stephen MR Covey) review, so the BSM individuals realized that “Speed of Trust” will improve BSM service for customers and reducing costs for BSM. At Crowd (Yuswohady) launching, BSM was inspired to immediately consolidate the on-line and off-line communities as part of the BSM marketing program. The presentation material and video were shared via the bank intranet and then became the knowledge sharing material. The BSM RC activities were also performed in branches such in in Makassar, Cilegon, and Mataram. In addition, to boost the practical ability, the BSM RC ever held a session of speed reading by inviting external instructor. The existence of BSM RC becomes one of the BSM aspects in inspiration story discussed in Grow with Character Champion Stories (Alexander Mulya dkk, PT Gramedia Pustaka Utama, 2011).
Social Organization Board of Directors of BSM active as administrator and as member of various social organizations, both on sharia economy and on professional banker. Some social organizations in which the BSM Director is involved are: Social Organizations No
Social Organization
Position
1
Shariah Economy Community (MES)
Member of Board of Counselor
2
KADIN
Permanent Committee on Sharia Financing
3
Shariah Economy Communication Center (PKES)
Board of Directors
4
Indonesian Banker Association
Member
5
Banker Association for Risk Management (BARa)
Board of Experts
6
ILUNI FE
Vice President
7
Communication Forum for Banking Compliance Directors
Member
8
Sharia Economy Focus Group (ISEI)
Member
9
Indonesian Audit Committee Association
Member
10
Office Friendship Forum
Elder member
11
Shariah Banking Perbanas Compartment
President
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Karissma Karissma stands for Ikatan Isteri Karyawan Shariah Mandiri (The Union of BSM Employees’ Wives). This organization was founded in celebration of the sixth Bank Syariah Mandiri Milad, on 1 November 2005. Karissma constitutes a non formal organization under the BSM Club. Karissma is the umbrella of BSM employees’ wives activities. Karissma also aims as an organization for friendship to build a good and harmonious family atmosphere.
3. On Human Resource Development: “Beauty Class dan Jilbab Kreasi ” training in commemoration of Kartini’s Day on 21st April 2010 organizing; Personality Development and Ngadi Saliro Seminar Theme: “Pesona Cantik Cermin Citra Diri Positif“ in celebration of Milad BSM 1st November 2010. 4. On Art and Sports: Choir rehearsal, Gymnastics, and Bowling
Karissma administration exists in headquater and branches throughout Indonesia. The existence of Karissma in its activities is expected to become inspiration and encouragement for the husbands’ career. Karissma has activity fields, among others: Spirituality, Social Welfare, Human Resources Development, and Art & Sports. Some activities conducted were: monthly recitation, orphanage/old people’s home visit, training and skills to develop talent, choir group, and gymnastics for Karissma members. In 2010, Karissma performed activities, among others: 1. On spirituality: Monthly Recitation; 2. On Social Welfare: orphanage/old people’s home visit and “Cheap Staple Food” Ramadhan the cooperation bewteen BSM Club and LAZ NAS BSM;
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Office Networks
Office Networks
REGION I MEDAN Gedung BSM Lt.4, Jl. A.Yani No. 100, Medan, Sumatera Utara Phone. (061) 4534466 Facs. (061) 4534456
ACEH KC ACEH Jl. Diponegoro No. 6, Banda Aceh, Aceh. Phone. (0651) 22010 Facs. (0651) 33945 KCP MEULABOH Jl. Nasional No. 107, Gampong Ujong Baroh, Kec. Johan Pahlawan, Kab. Aceh Barat, Aceh. Phone. (0655) 7551109, 7551558 Facs. (0655) 7551184 KCP SIGLI Jl. Prof. A. Majid Ibrahim blok C No. 5-6, Kp. Asan, Kec. Kota Sigli, Kab. Pidie, Aceh. Phone. (0653) 7829601, 7829602 Facs. (0653) 7829603
KC: Branch Offices KCP: Sub- Branch Offices UPS: Sharia Services Units KK: Cash Offices KLS: Sharia Services Counters PP: Payment Points
KCP ACEH DARUSSALAM Jl. T. Nyak Arief No. 376, Kopelma Darussalam, Syiah Kuala, Banda Aceh, Aceh. Phone. (0651) 7551743, 7551744 Facs. (0651) 7551745 KCP JANTHO Jl. Jend. Sudirman, Jantho, Aceh Besar, Aceh. Phone. (0651) 92684, 92689 Facs. (0651) 92683 KCP CALANG Jl. Calang Meulaboh (Jl. Teuku Umar) No.5, Desa Dayah Kec. Krueng Sabe, Kab. Aceh Barat, Aceh. Baro, Phone. (0654) 2210114, 2210115 Facs. (0654) 2210117 KCP MEUREUDU Jl. Iskandar Muda No. 32-33, Desa Kota Meureudu, Kec. Meureudu, Kab. Pidie Jaya, Aceh. Phone. (0653) 51393, 51394 Facs. (0653) 51199 KCP LAMBARO Jl. Banda Aceh-Medan KM 8,5, Desa Lambaro, Kec. Ingin Jaya, Kab. Aceh Besar, Aceh. Phone. (0651) 8070130, 8070131 Facs. (0651) 8070133 PP ACEH UNMUHA Gedung Univ. Muhammadiyah Aceh, Jl. Muhammadiyah No. 91, Banda Aceh, Aceh. Phone. (0651) 28303 (0651) 28303 KC SIMEULUE Pertokoan Suak Tungkul Kavling 1 No. 5/6, Jl. Tgk. Diujung Sinabang, Simeulue, Aceh. Phone. (0650) 21557 Facs. (0650) 21570 KCP BLANGPIDIE Jl. Kesehatan No. 84-86, Gampong Kuta Tuha, Blangpidie, Aceh. Phone. (0659) 93387 Facs. (0659) 93386 KCP SUBULUSSALAM Jl. Teuku Umar No. 10-11, Subulussalam, Aceh. Phone. (0627) 31500 Facs. (0627) 31502
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PT Bank Syariah Mandiri Annual Report 2010
KCP RIMO Jl. T. R. Angkasah No. 77 A/B, Lae Butar-Rimo, Kab. Aceh Singkil, Aceh. Phone. (0658) 21588, 21556, 21557 Facs. (0658) 21580 KK TAPAK TUAN Jl. Merdeka No. 92 B Gampong Pasar, Kec. Tapak Tuan, Kab. Aceh Selatan, Aceh. Phone. (0656) 323700, 323702 Facs. (0656) 323701 KC LANGSA Jl. Ahmad Yani No. 20-22, Kel. Gampong Jawa, Kec. Langsa Kota, Langsa, Aceh. Phone. (0641) 426135, 21357, 426451 Facs. (0641) 426051 KCP BIREUEUN Jl. Iskandar Muda No.8, Bireueun, Aceh. Phone. (0644) 323002 Facs. (0644) 323004 KCP PASAR LANGSA Jl. Teuku Umar No. 61, Kota Langsa, Aceh. Phone. (0641) 22035, 23804 Facs. (0641) 23913 KCP KUALA SIMPANG Jl. Cut Nyak Dien No.3-4, Kampung Kota Lintang, Kec. Kota Kuala Simpang, Kab. Aceh Tamiang. Phone. (0641) 31322, 31959 Facs. (0641) 31433 PP LANGSA MADRASAH ULUMUL QURAN Madrasah Ulumul Quran Jl. Banda Aceh-Medan Km. 447, Kota Langsa, NAD. Phone. (0641) 7014766 KC LHOKSEUMAWE Jl. Merdeka No. 24-25, Desa Simpang Empat, Kec. Banda Sakti, Kotif Lhokseumawe, Aceh. Phone. 0645) 631146, 631147, 631148 Facs. (0645) 41555
SUMATERA BARAT KC PADANG Jl. Imam Bonjol No. 17, Padang, Sumatera Barat. Phone. (0751) 21113, 20765 Facs. (0751) 24768 KCP SOLOK Jl. Prof. M. Yamin, SH. No. 375, Pandan, Solok, Sumatera Barat. Phone. (0755) 22594 Facs. (0755) 22960 KCP PADANG ULAK KARANG Jl. S.Parman No. 145 A, Kel. Ulak Karang Selatan, Kec. Padang Utara, Kota Padang, Sumatera Barat. Phone. (0751) 444908 Facs. (0751) 444218 KCP PADANG BANDAR BUAT Jl. Rimbo Datar No. 16D RT 02 RW 02, Kel. Bandar Buat, Kec. Lubuk Kilangan, Kota Padang, Sumatera Barat. Phone. (0751) 93950, 93951 Facs. (0751) 72500 KCP PADANG PARIAMAN Jl. Sudirman No. 38, Pariaman, Sumatera Barat. Phone. (0751) 93950, 93951 Facs. (0751) 93952 KCP PULAU PUNJUNG Jl. Lintas Sumatra Km. 2, Nagari IV Koyo, Kec. Pulau Punjung, Kab. Dharmasraya, Sumatera Barat. Phone. (0754) 40770, 40771 Facs. (0754) 40772
PP PADANG UNIV. ANDALAS Gedung Pusat Kegiatan Mahasiswa Universitas Andalas, Jl. Limau Manis, Padang, Sumatera Barat. Phone. (0751) 778600 Facs. (0751) 778601
KCP MEDAN KRAKATAU Jl. Krakatau No. 136 Pulau Brayan, Medan, Sumatera Utara. Phone. (061) 6691005 Facs. (061) 6616121
KC PADANG SIDEMPUAN Jl. Merdeka No. 81-81A, Padangsidempuan, Tapanuli Selatan, Sumatera Utara. Phone. (0634) 28200 Facs. (0634) 28103
KC BUKITTINGGI Jl. Jenderal Sudirman No. 73, Bukit Tinggi, Sumatera Barat. Phone. (0752) 627633, 627635 Facs. (0752) 627637
KCP MEDAN BELAWAN Jl. Sumatera No. 33, Kec. Medan Belawan, Kota Medan, Sumatera Utara. Phone. (061) 6945820 Facs. (061) 6941744
KCP PANYABUNGAN Jl. Willem Iskandar No. 115 B Panyabungan, Madina, Sumatera Utara. Phone. (0636) 20232, 321500 Facs. (0636) 321617, 321616
KCP PADANG PANJANG Jl. Soekarno-Hatta No. 3 Padang Panjang, Sumatera Barat. Phone. (0752) 84591, 82992 Facs. (0752) 82993 KCP PASAMAN BARAT Jl. Sudirman, Simpang Empat, Kab. Pasaman Barat, Sumatera Barat. Phone. (0753) 466778, 466779, Facs. (0753) 466777, 466780 KCP LUBUK BASUNG Jl. Gajah Mada, Cubadak, Kel. Balai Ahad, Kec. Lubuk Basung, Kab. Agam, Sumatera Barat. Phone. (0752) 66466 Facs. (0752) 66464 KK BATU SANGKAR Jl. Soekarno-Hatta No. 13, Pasar Batusangkar, Batusangkar, Tanah Datar, Sumatera Barat. Phone. (0752) 72500 Facs. (0752) 72501 KC PAYAKUMBUH Jl. Ade Irma Suryani No. 3 D-E, Payakumbuh, Sumatera Barat. Phone. (0752) 796640, 796641 Facs. (0752) 93167 SUMATERA UTARA KC MEDAN Jl. Jenderal Achmad Yani No. 100, Medan, Sumatera Utara. Phone. (061) 4151466, 4153866 Facs. (061) 4511867 KCP TEBING TINGGI Jl. A Yani No. 141, Kota Tebing Tinggi, Sumatera Utara. Phone. (0621) 328125, 328126 Facs. (0621) 328127 KCP MEDAN AKSARA Jl. Letda Sujono No. 110, Medan, Sumatera Utara. Phone. (061) 7325939, 7325957 Facs. (061) 7332936 KCP MEDAN SETIA BUDI Kompl. Perumahan Nice Commercial Blok B No. 4 Jl. Setia Budi, Medan, Sumatera Utara. Phone. (061) 8220384 Facs. (061) 8221267 KCP MEDAN PETISAH Jl. Rotan No. 6-7, Medan, Sumatera Utara. Phone. (061) 4521002 Facs. (061) 4145787 KCP MEDAN SIMPANG LIMUN Jl. Sisingamangaraja No. 51-B, Medan, Sumatera Utara. Phone. (061) 7866464, 7864455, Facs. (061) 7873555, 7868555, 7866611
KCP MEDAN TOMANG ELOK Jl. Gatot Subroto Komplek Tomang Elok Blok A No. 81, Medan, Sumatera Utara. Phone. (061) 8472668 Facs. (061) 8440518 KCP MEDAN ISKANDAR MUDA Jl. Iskandar Muda No. 58, Medan, Sumatera Utara. Phone. (061) 4151156 Facs. (061) 4521396 KCP MEDAN PULO BRAYAN Jl. Yos Sudarso Komplek Mega Glugur Mas No. 3-4, Medan, Sumatera Utara. Phone. (061) 6632917 Facs. (061) 6644784 KK MEDAN POLONIA Bandara Udara Internasional Terminal Kedatangan Jl. Imam Bonjol, Medan, Sumatera Utara. Phone. (061) 4567127 Facs. (061) 4567127 KLS MEDAN PULO BRAYAN Kantor Cabang Bank Mandiri Jl. Yos Sudarso Blok A No. 1A, Pulo Brayan Medan, Sumatera Utara. Phone. (061) 6632944 Facs. (061) 6632861 KLS TEBING TINGGI Kantor Cabang Bank Mandiri Jl. Dr. Sutomo No. 17, Tebing Tinggi, Sumatera Utara. Phone. (0621) 24440 Facs. (0621) 24440 PP MEDAN UMSU Kampus III UMSU Jl. Kapten Mukhtar Basri No. 3, Medan, Sumatera Utara. Phone. (061) 6623323 PP MEDAN UISU Kampus Universitas Islam Sumatera Utara Jl. Sisingamaraja-Teladan, Medan, Sumatera Utara. Phone. (061) 7883683 Facs. (061) 7883683 KC MEDAN KAMPUNG BARU Jl. Brigjen Katamso No. 717 B, Medan, Sumatera Utara. Phone. (061) 7869518 Facs. (061) 7869739 KC RANTAU PRAPAT Jl. Imam Bonjol No. 22, Rantau Prapat, Sumatera Utara. Phone. (0624) 24880, 24205, 25278 Facs. (0624) 25278 KCP KOTA PINANG Jl. Jenderal Sudirman No. 26 B, Kota Pinang, Labuhan Batu, Sumatera Utara. Phone. (0624) 496922, 496918 Facs. (0624) 496919 KLS RANTAU PRAPAT AHMAD YANI Kantor Cabang Bank Mandiri Hub Rantau Prapat A. Yani, Jl. Jend. Ahmad Yani No.2 Rantau Prapat, Sumatera Utara. Phone. (0624) 22573 Facs. (0624) 22723
KCP SIBUHUAN Jl. Ki Hajar Dewantara, Lingkungan VI, Sibuhuan, Padang Lawas, Sumatera Utara. Phone. (0636) 421335, 421336, Facs. (0636) 421786, 421337 KCP GUNUNG TUA Jl. Sisingamangaraja No. 234, Kel. Pasar Baru Gunung Tua, Kec. Padang Bolak, Kab. Padang Lawas Utara, Sumatera Utara. Phone. (0635) 510919 Facs. (0635) 515920 KCP SIPIROK Jl. Merdeka No.95, Kel. Sipirok Godang, Kec. Sipirok, Kab. Tapanuli Selatan, Sumatera Utara. Phone. (0634) 41520 Facs. (0634) 41560 KLS PADANG SIDEMPUAN SUDIRMAN Kantor Cabang Bank Mandiri Hub Padang Sidempuan, Jl. Sudirman No. 30-32 Padang Sidempuan, Sumatera Utara. Phone. (0634) 28300 Facs. (0634) 24300 KC BINJAI Jl. Sukarno Hatta No. 22-23, Kel. Tanah Tinggi, Kec. Binjai Timur, Kota Binjai, Sumatera Utara. Phone. (061) 8826396 Facs. (061) 8826138 KCP STABAT Jl. KH. Zainul Arifin No. 17-A, Stabat, Kab. Langkat, Sumatera Utara. Phone. (061) 8912631, 8912632 Facs. (061) 8912630 KCP PANGKALAN BRANDAN Jl. Thamrin No. 57, Pangkalan Brandan, Kab. Langkat, Sumatra Utara. Phone. (0620) 322222 Facs. (0620) 322767 KLS STABAT PANGKALAN BRANDAN Kantor Cabang Bank Mandiri Hub Pangkalan Brandan, Komplek Pertamina Sumbagut Pangkalan Brandan, Jl. Wahidin No. 1, Pangkalan Brandan, Sumatera Utara. Phone. (0620) 21925 Facs. (0620) 21844 PP STABAT PANCA BUDI Perguruan Panca Budi , d.a. Toserba PADI, Gedung G, Jl. Gatot Subroto Km. 4,5 Sei Sikambing, Medan, Sumatera Utara. KC PEMATANG SIANTAR Jl. Kapt. M. H. Sitorus No. 15-A, Pematangsiantar, Sumatera Utara. Phone. (0622) 435858, 435857, Facs. (0622) 435848, 435861 KCP PERDAGANGAN Jl. Sisingamaraja, Perdagangan Kab. Simalungun, Sumatera Utara. Phone. (0622) 697777 Facs. (0622) 697177
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KCP KISARAN Jl. Imam Bonjol No. 195 Kisaran, Medan, Sumatera Utara. Phone. (0623) 348500, 348501 Facs. (0623) 348502 KCP TANJUNG BALAI Jl. HOS Cokroaminoto No.35 DE, Tanjung Balai, Sumatera Utara. Phone. (0623) 597373 Facs. (0623) 596933 PP SIMALUNGUN BRIDGESTONE Komplek PT. Bridgestone Sumatera Rubber Estate, Dolok Merangir, Pos Serbalawan, Kab. Simalungun, Sumatera Utara. Phone. (0622) 64118 Facs. (0622) 64227 KC MEDAN GAJAH MADA Jl. Gajah Mada No. 7, Kel. Petisah Hulu, Kec. Medan Baru, Kota Medan, Sumatera Utara. Phone. (061) 4550755 Facs. (061) 4550766, 4537627 KC SIBOLGA Jl. Sutoyo Siswomiharjo No. 22, Sibolga Utara, Sibolga, Sumatera Utara. Phone. (0631) 24555 Facs. (0631) 26722 KC LUBUK PAKAM Jl. Diponegoro No. 45-46, Kel. Lubuk Pakam, Kec. Lubuk Pakam, Kab. Deli Serdang, Sumatera Utara. Phone. (061) 7952555 Facs. (061) 7951444
RIAU
KLS PEKANBARU AHMAD YANI Kantor Cabang Bank Mandiri Jl. Jend. Ahmad Yani No. 85, Pekanbaru, Riau. Phone. (0761) 7051266 Facs. (0761) 839544 PP PEKANBARU PENGADILAN AGAMA Jl. Rawa Indah No. 1, Arifin Ahmad, Pekanbaru, Riau. Phone. (0761) 7063358 Facs. (0761) 7063358 PP PEKANBARU PMC Pekanbaru Medical Center, Jl. Lembaga Pemasyarakatan No.25, Pekanbaru, Riau. Phone. (0761) 34325 Facs. (0761) 34325 PP PEKANBARU UIR Fakultas Ekonomi - Universitas Islam Riau, Jl. Kaharudin Nasution No. 113, Pekanbaru, Riau. KC PEKANBARU HARAPAN RAYA Jl. Imam Munandar No. 155, Kel. Tangkerang Utara, Kec. Bukit Raya, Pekanbaru, Riau. Phone. (0761) 862222 Facs. (0761) 849799 KC DUMAI Jl. Jenderal Sudirman No. 162 Dumai, Riau. Phone. (0765) 33555 Facs. (0765) 32379 KCP BAGAN BATU Jl. Jend. Sudirman No. 649, Bagan Batu, Kab. Rokan Hilir, Riau. Phone. (0765) 51890, 51891 Facs. (0765) 51893 KCP BENGKALIS Jl. Hangtuah No 35, Kab. Bengkalis, Riau. Phone. (0766) 24787 Facs. (0766) 24788
KC PEKANBARU Jl. Jend. Sudirman No. 169, Pekanbaru, Riau. Phone. (0761) 8499191, 8499192 Facs. (0761) 849190, 31668
KLS DUMAI SYARIEF KASIM Kantor Cabang Bank Mandiri Jl. Sultan Syarif Kasim No. 99, Dumai, Riau. Phone. (0765) 33150 Facs. (0765) 31150
KCP PEKANBARU PANAM Jl. H.R. Subrantas Km. 9,5 (Depan Ponpes Babussalam), Kel. Sidomulyo, Kec. Tampan, Panam, Pekanbaru, Riau. (0761) 62263, 62385 Facs. (0761) 62270
PP DUMAI CPI Area Camp PT Chevron Pacific Indonesia (CPI), Riau. Phone. (0765) 826303 Facs. (0765) 999038
KCP PANGKALAN KERINCI Jl. Lintas Timur No. 115, Pangkalan Kerinci, Pekanbaru, Riau. Phone. (0761) 493335 Facs. (0761) 493337 KCP TEMBILAHAN Jl. M. Boya No.4, Tembilahan, Indragiri Hilir, Pekanbaru, Riau. Phone. (0768) 21935, 21936, 21937 Facs. (0768) 21938, 21939 KCP UJUNG BATU Jl. Jend. Sudirman, Ujung Batu, Rokan Hulu, Riau. Phone. (0762) 7363901, 7363902 Facs. (0762) 7363900, 7363903 KCP PEKANBARU NANGKA Jl. Tuanku Tambusai No. 320 E-F, Labuh Baru Timur, Tampan, Pekanbaru, Riau. Phone. (0761) 7891526 Facs. (0761) 572064 KK PEKANBARU RUMBAI Jl. Sekolah, Rumbai No. 10 A, Pekanbaru, Riau. Phone. (0761) 51959 Facs. (0761) 51876
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PT Bank Syariah Mandiri Annual Report 2010
KCP BATAMINDO Shophouse Blok F#01-29&30, Kawasan Industri Batamindo, Batam, Kep. Riau. Phone. (0770) 612044 Facs. (0770) 612303 KCP BATAM BATU AJI Komplek Ruko Perumnas Fanindo Blok F No. 6, Tanjung Uncang, Batu Aji, Batam, Kep. Riau. Phone. (0778) 3581312, 3581314 Facs. (0778) 3581313, 3581315 KCP BATAM CENTER Komplek Mahkota Raya Blok C No. 12, Batam, Kep. Riau. Phone. (0778) 7483291, 7483292 Facs. (0778) 7483236 KLS BATAM RAJA ALI HAJI Kantor Cabang Bank Mandiri, Jl. Raja Ali Haji No.39, Batam, Kep. Riau. Phone. (0778) 425925 Facs. (0778) 430240 KLS BATAM SEKUPANG Gedung Terminal Ferry Internasional Sekupang lantai dasar T10, Kota Batam, Kepulauan Riau. Phone. (0778) 326012, 326013 KC TANJUNG PINANG Jl. Diponegoro No. 1 C Tanjung Pinang, Kep. Riau Phone. (0771) 313788 Facs. (0771) 313995 KCP TANJUNG UBAN Jl. Permaisuri Rt 001/007, Tanjung Uban, Bintan Utara, Bintan, Kep. Riau. Phone. (0771) 482624 Facs. (0771) 482929 KCP NATUNA Jl. Soekarno Hatta, Kel. Ranai Kota, Kec. Bunguran Timur, Kab. Natuna, Kepulauan Riau. Phone. (0773) 31299 Facs. (0773) 31469
REGION II PP DUMAI PERTAMINA UP II Kompl. Perumahan Pertamina UP II, Jl. Cilacap, Bukit Datuk, Riau. Phone. (0765) 7011589 PP DUMAI RSUD Rumah Sakit Umum Daerah, Jl. Sultan Syarif Kasim, Dumai Phone. (0765) 443369 Facs. (0765) 443370 KC DURI Jl. Hang Tuah Duri Kab. Bengkalis, Riau. Phone. (0765) 598990 Facs. (0765) 598993
JAKARTA I Plaza Bumi Daya Lantai 22, Jl. Imam Bonjol No.61, Jakarta Pusat. Phone. (021) 3903969 Facs. (021) 3904395
BANTEN KC TANGERANG Ruko Business Park Tangerang City, Blok A No. 12, Jl. Jend. Sudirman, Tangerang, Banten. Phone. (021) 55781230, 55781231, Facs. (021) 55781233, 55781232
KEPULAUAN RIAU KC BATAM Gedung Graha Sulaeman Blok B No. 2 Jl. Sultan Abdul Rahman, Lubuk Baja, Batam, Kep. Riau. Phone. (0778) 431331 Facs. (0778) 432727 KCP TANJUNG BALAI KARIMUN Jl. Ahmad Yani No. 3-4, Karimun, Kep. Riau. Phone. (0777) 327601, 327605 Facs. (0777) 327600
KCP TANGERANG CILEDUG Jl. HOS Cokroaminoto No. 69 Ciledug, Tangerang, Banten. Phone. (021) 73458147, 73458148 Facs. (021) 73458150, 73458149 KCP TANGERANG BSD Ruko Golden Madrid Blok B/6, Jl. Letjen Soetopo, Sektor XIV BSD, Tangerang, Banten. Phone. (021) 53163209, 53163210, 53163211 Facs. (021) 53160411
KCP TANGERANG MALABAR Jl. Borobudur Raya M 16-17, Bencongan, Kelapa Dua, Tangerang, Banten. (021) 55655016, 55655017, 55655012 Facs. (021) 5910544 KCP TANGERANG CIKUPA Jl. Raya Serang Km. 14,8, Blok B No. 7, Cikupa, Tangerang, Banten. Phone. (021) 5963633, 5963634 Facs. (021) 5963635 KCP TANGERANG CIMONE Jl. Merdeka No. 308 Cimone, Tangerang, Banten. Phone. (021) 5580754, 5580711 Facs. (021) 5580807 KCP TANGERANG BALARAJA Komplek Ruko Indah Mas No. 1, Jl. Raya Serang KM. 24, Balaraja, Tangerang, Banten. Phone. (021) 5950124 Facs. (021) 5950123 KLS TANGERANG RS. GLOBAL MEDIKA RS. Global Medika Jl. MH. Thamrin No. 3 Tangerang, Banten. Phone. (021) 55781523, 55780888 Facs. (021) 55781523 KC CILEGON Jl. Sultan Ageng Tirtayasa No. 115 A, Cilegon, Banten. Phone. (0254) 399444, 375648 Facs. (0254) 375645 KCP LEBAK BANTEN Jl. Alun-Alun Barat No. 1 Lebak, Banten. Phone. (0252) 5285411, 5285412 Facs. (0252) 5285413 KCP SERANG CIKANDE Komplek Rumah Toko Modern Blok C No. 7-8, Nambo Ilir, Cikande, Serang, Banten. Phone. (0254) 402525 Facs. (0254) 402522 KCP LABUAN Jl. Jend. Sudirman No. 41, Labuan, Pandeglang, Banten. Phone. (0253) 802768, 802769 Facs. (0253) 802767, 802770, 802771 KK PANDEGLANG Jl. A. Yani No. 41 E Pandeglang, Banten. Phone. (0253) 206035 Facs. (0253) 206034 KLS SERANG DIPONEGORO Kantor Cabang Bank Mandiri Jl. Diponegoro No. 8, Serang, Banten. Phone. (0254) 202567 Facs. (0254) 200678 PP CILEGON PT. KBS Gedung Utama PT. Krakatau Bandar Samudera, Jl. S.Parman Km. 13 Cigading, Cilegon, Banten. Phone. (0254) 8317043 Facs. (0254) 8317042 PP CILEGON AL AZHAR Komplek Yayasan Pendidikan Warga Krakatau Steel, Jl. Tongkol No. 17, Cilegon, Banten KC TANGERANG BINTARO Bintaro Trade Center, Jl. Jend. Sudirman Blok A1 No. 7 - 8, Bintaro Sektor 7, Pondok Aren, Tangerang. Phone. (021) 7450120, 7453301 Facs. (021) 7450116, 7450296, 7450297
KC SERANG Jl. Ahmad Yani No. 175 C-D, Kel. Sumur Pecung, Kec. Serang, Kab. Serang, Banten. Telp. (0254) 222984, 217776 Fax. (0254) 222985, 210191
KK JAKARTA RS. DHARMAIS Gedung RSK Dharmais Jl. Letjen S Parman Kav. 84-86, Slipi, Jakarta Barat. Phone. (021) 56943409, 56943407 Facs. (021) 56943408
KC TANGERANG BSD Ruko BSD Blok RQ No. 101, Serpong, Tangerang, Banten. Telp. (021) 5386900 Fax. (021) 5386898
KLS JAKARTA S. PARMAN Kantor Cabang Bank Mandiri Wisma Barito Pacific, Jl. S. Parman Kav. 62-63 Slipi, Jakarta Barat. Phone. (021) 53660560 Facs. (021) 53660560 KLS JAKARTA GD. PUSAT KEHUTANAN Kantor Cabang Bank Mandiri Wisma Manggala Wanabhakti, Jl. Jend. Gatot Subroto, Jakarta Pusat. Phone. (021) 5731933 Facs. (021) 5731933
JAKARTA KC JAKARTA HASANUDIN Jl. S. Hasanudin No. 57 Jakarta Selatan. Telp. (021) 2701515, 2701505 Fax. (021) 7220362 KCP JAKARTA FATMAWATI Jl. RS Fatmawati No. 27 B , Jakarta Selatan. Telp. (021) 75903336 Fax. (021) 75903362 KCP JAKARTA WALTERMONGINSIDI Jl. Waltermonginsidi No. 67 A, Jakarta Selatan. Telp. (021) 7226063, 7226067 Fax. (021) 7223044, 7226068 KCP JAKARTA PANGLIMA POLIM Jl. RS Fatmawati No. 127 Blok A-8, Kebayoran Baru, Jakarta Selatan. Telp. (021) 2701515 Fax. (021) 2701505 KK JAKARTA AL AZHAR KEBAYORAN Komplek Masjid Agung Al Azhar, Jl. Sisingamaraja Kebayoran Baru, Jakarta Selatan. Telp. (021) 72790244 Fax. (021) 72790381 KLS JAKARTA SUMMITMAS Kantor Cabang Bank Mandiri Gedung Summitmas I Lt.1, Jl. Jendral Sudirman Kav. 61-62 Jakarta Selatan. Telp. (021) 2521728 Fax. (021) 2522281 PP JAKARTA PENGADILAN AGAMA Jl. K.H. Mas Mansyur/Jl. H. Awaluddin II/2, Tanah Abang, Jakarta Pusat. Telp. (021) 327910 KC JAKARTA MAYESTIK Jl. Kyai Madja Blok D/1 Persil No. 2, RT 004 RW 01 No. 7, Kramat Pela, Kebayoran Baru, Jakarta Selatan. Telp. (021) 7202451, 7202728 Fax. (021) 7220822, 7202509, 7394952 KCP JAKARTA PALMERAH Jl. Palmerah Barat No. 32 B, Kebayoran Lama, Jakarta Selatan. Telp. (021) 5356423, 5356601 Fax. (021) 5356757 KCP JAKARTA BENDUNGAN HILIR Jl. Bendungan Hilir Raya No. 37, Jakarta Pusat. Telp. (021) 5725779, 5703644 Fax. (021) 57900825 KCP JAKARTA KEBAYORAN LAMA Jl. Kebayoran Lama Raya No. 182, Cipulir, Kebayoran Lama, Jakarta Selatan. Telp. (021) 7210627, 7210634 Fax. (021) 7237913, 7210679
KC JAKARTA WARUNG BUNCIT Gedung Fortune Lt. Dasar Jl. Mampang Prapatan No. 96, Jakarta Selatan. Phone. (021) 7989007, 7989009 Facs. (021) 7989006 KCP JAKARTA CILILITAN Jl. Raya Bogor No. 1 Kramat Jati, Jakarta Timur. Phone. (021) 80878616, 70982824 Facs. (021) 80878617 KCP JAKARTA PASAR MINGGU Jl. Raya Lenteng Agung No. 26, Jakarta Selatan. Phone. (021) 78833626, 7892545 Facs. (021) 7806973 KCP JAKARTA KEMANG Jl. Kemang Raya No. 82, Bangka, Mampang Prapatan, Jakarta Selatan. Phone. 021) 7193437, 7193439 Facs. (021) 7197443, 7193452, 7197050 KCP JAKARTA CIRACAS Jl. Lapangan Tembak No. 1 Rt. 005/02, Cibubur, Ciracas, Jakarta Timur. Phone. (021) 8704204, 8704164 Facs. (021) 87709405 KK JAKARTA PLAZA MANDIRI Plaza Mandiri - L 1 Jl. Jend. Gatot Subroto Kav 36-38, Jakarta Selatan. Phone. (021) 5263466, 5263688 Facs. (021) 5263566 KLS JAKARTA PASAR REBO Kantor Cabang Bank Mandiri Plaza PP, Jl. Letjen TB Simatupang No.57, Jakarta Timur. Phone. (021) 87780053 Facs. (021) 87790475 KLS JAKARTA CILEUNGSI RS.MH. Thamrin Jl. Raya Narogong Km. 15, Limusnunggal, Cileungsi, Bogor. Phone. (021) 82491527, 82491433 Facs. (021) 82494270 KLS JAKARTA DEPTAN Kantor Pusat Departemen Pertanian, Gedung B, Lantai Dasar, Jl. Harsono RM. No. 3, Ragunan, Jakarta Selatan. Phone. (021) 7801892 Facs. (021) 7801863 KC JAKARTA PONDOK INDAH Komp. Ruko Pondok Indah Kav. II No.11 Blok UA, Jl.Taman Duta I Sektor II Jakarta Selatan. Phone. (021) 7662029, 7662030 Facs. (021) 7662028, 7665391
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Office Networks
KCP TANGERANG CIPUTAT Jl. Ir. H. Juanda No. 111, Ciputat, Tangerang. Phone. (021) 7425267 Facs. (021) 7423018
KCP JAKARTA GAJAH MADA Jl. Gajah Mada No. 16, Petojo Utara, Gambir, Jakarta Pusat. Phone. (021) 6322208 Facs. (021) 6322206, 6322207
KC JAKARTA SAHARJO Jl. Minangkabau No. 39, Pasar Manggis Setiabudi, Jakarta Selatan. Phone. (021) 8308768, 8292824 Facs. (021) 8308769, 8357309, 8357310
KCP TANGERANG PAMULANG Jl. Siliwangi Blok SN 21/9 Pamulang, Tangerang. Phone. (021) 74701759 Facs. (021) 7498348
KK JAKARTA INDOSAT Gedung Indosat, Jl. Medan Merdeka Barat No. 21, Jakarta Pusat. Phone. (021) 3519140, 3869969 Facs. (021) 3519141
KCP JAKARTA JATINEGARA Perkantoran Mitra Matraman Blok A1 No. 9, Jl. Matraman Raya No. 148, Jakarta Timur. Phone. (021) 85904866 Facs. (021) 85905634
KCP JAKARTA CILANDAK Komplek Ruko Haji Madali Jl. Cilandak KKO No. 5E, Cilandak, Ragunan, Jakarta Selatan. Phone. (021) 7829780 Facs. (021) 78832136
KK JAKARTA DEPAG Gedung Depag, Jl. Lapangan Banteng No.3-4, Jakarta Pusat. Phone. (021) 3441235 Facs. (021) 3441231
KCP TANGERANG CIRENDEU Jl. Cirendeu Raya No. 29 E, Cirendeu, Ciputat, Tangerang Selatan, Banten. Phone. (021) 74713525, 74714033, Facs. (021) 7490208, 74713537
KLS JAKARTA IMAM BONJOL Kantor Cabang Bank Mandiri, Jl. Imam Bonjol No.6,1 Jakarta Pusat. Phone. (021) 3902394 Facs. (021) 3902394
KCP JAKARTA PONDOK LABU Graha Fatmawati, Jl. RS. Fatmawati Blok A No. 1D RT 005/09, Kel. Cilandak Barat, Kec. Cilandak, Jakarta Selatan. Phone. (021) 7694434, 75903246 Facs. (021) 7502981, 75910378
KLS JAKARTA FAKHRUDIN Kantor Cabang Bank Mandiri, Jl. Fakhrudin No.15 Tanah Abang, Jakarta Pusat. Phone. (021) 3910788 Facs. (021) 3910788
KCP DEPOK CINERE Jl. Cinere Raya Blok A No. 38, Limo, Depok. Phone. (021) 7548031 Facs. (021) 7548032
KCP TANGERANG BINTARO SEKTOR III Bintaro Jaya Sektor IIIA, Blok DD 10/1, Jl. Mandar XX, Tangerang, Banten. Phone. (021) 7343970, 7343969, Facs. (021) 73883936, 7343913, 7343920 KLS JAKARTA PONDOK INDAH MALL 2 Kantor Cabang Bank Mandiri Pondok Indah Mall 2 G/33C, Jl. Metro Pondok Indah, Jakarta Selatan. Phone. (021) 75920600 Facs. (021) 75920600 PP JAKARTA MADRASAH PEMBANGUNAN UIN Jl. Ibnu Taimia IV Komplek UIN Jakarta, Ciputat, Tangerang, Banten. Phone. (021) 7444472 KC JAKARTA THAMRIN Jl. M. H. Thamrin No. 5, Jakarta Pusat. Phone. (021) 2300509, 39839000 Facs. (021) 39832939 KCP JAKARTA TANAH ABANG Komplek Tanah Abang Bukit, Blok F/4, Jl. KH. Fachruddin, Jakarta Pusat. Phone. (021) 3917747, 3923030 Facs. (021) 3918004 KCP JAKARTA CEMPAKA PUTIH Komplek Perkantoran Cempaka Putih Permai Blok A No. 24, Jl. Letjend.R. Soeprapto Kav.10, Jakarta Pusat. Phone. (021) 4229015, 4263402 Facs. (021) 4202258 KCP JAKARTA PASAR BARU Jl. Pintu Air No. 7 Blok A1, Pasar Baru, Jakarta Pusat. Phone. (021) 3442371 Facs. (021) 3442370 KCP JAKARTA CIKINI Jl. Cikini Raya No. 69-71, Cikini, Menteng, Jakarta Pusat. Phone. (021) 31901900 Facs. (021) 31902900
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PT Bank Syariah Mandiri Annual Report 2010
PP. JAKARTA BANK INDONESIA Komplek Bank Indonesia, Gedung Kebon Sirih Lantai 3, Jakarta Pusat. KC JAKARTA TANJUNG PRIOK Jl. Enggano No. 42B - 42 Tanjung Priok, Jakarta Utara. Phone. (021) 43906060,43906055 Facs. (021) 43906058, 43906059 KCP JAKARTA KRAMAT JAYA Jl. Kramat Jaya No. 42 B, Cilincing, Jakarta Utara. Phone. (021) 4410348 Facs. (021) 4410348 KCP JAKARTA SUNTER Jl. Danau Sunter Blok F.21, Kaveling No. 5, Kel. Sunter Agung, Kec. Tanjung Priok, Jakarta Utara. Phone. (021) 6411078, 65837827 Facs. (021) 65837826 KCP JAKARTA MUARA KARANG Jl. Muara Karang Blok A.7 No. 173, Kec. Penjaringan, Jakarta Utara. Phone. (021) 66693079, 6616980 Facs. (021) 66693108
KCP JAKARTA RASUNA SAID Ario Bimo Central Building, Jl. H.R. Rasuna Said X-2 Kavling 5 Jakarta Selatan. Phone. (021) 5225961, 5225963 Facs. (021) 5225954 KCP JAKARTA TEBET Jl. Tebet Barat IX No. 31, Tebet, Jakarta Selatan. Phone. (021) 83796551,83796549 Facs. (021) 83796551, 83792030 KCP JAKARTA MEGA KUNINGAN Jl. Mega Kuningan Barat Blok A9/B9 No. C5-6-7, Lantai B-D-2-3-4-5-DRM, Jakarta Selatan. Phone. (021) 57852892, 57852893 Facs. (021) 57852737, 57652822 KLS JAKARTA JATINEGARA TIMUR Kantor Cabang Bank Mandiri, Jl. Jatinegara Timur No. 58, Jakarta Timur. Phone. (021) 2800033 ext 104/105 Facs. (021) 2300637 KC JAKARTA RAWAMANGUN Jl. Paus Raya No. 86, Rawamangun, Jakarta Timur. Phone. (021) 4711987 Facs. (021) 4711963 KCP JAKARTA CAKUNG Kompl. Pusat Perdagangan Ujung Menteng, Jl. Hamengkubuwono IX KM. 25 Blok B No. 15, Cakung, Jakarta Timur. Phone. (021) 46802224, 46802225 Facs. (021) 46802228 KCP JAKARTA PONDOK BAMBU Jl. Pahlawan Revolusi No. 17C, Pondok Bambu, Jakarta Timur. Phone. (021) 70332098, 86613848 Facs. (021) 8611927 KCP JAKARTA KLENDER Jl. Teratai Putih Raya No. 26 Blok 28, Kel. Malaka Jaya, Kec. Duren Sawit, Jakarta Timur. Phone. (021) 86608551, 86608567 Facs. (021) 8627154
KK JAKARTA PELABUHAN TJ. PRIOK Gd. Mega Enggano, Jl. Enggano Blok A No.5T, Tanjung Priok, Jakarta Utara. Phone. (021) 43907746, 43907732 Facs. (021) 43907733
KCP JAKARTA UTAN KAYU Jl. Utan Kayu No. 49 A, Jakarta Timur. Phone. (021) 85913922, 85913925 Facs. (021) 85913209
KK JAKARTA RSIJ CEMPAKA PUTIH Komplek. RSIJ. Cempaka Putih, Jl. Cempaka Putih Tengah I/1, Jakarta Pusat. Phone. (021) 4251779 Facs. (021) 4251785
KCP JAKARTA DEWI SARTIKA Jl. Dewi Sartika Raya No. 139 B, Cawang, Jakarta Timur Phone. (021) 80872793, 80872794 Facs. (021) 8017404
KLS JAKARTA KOTA Kantor Cabang Bank Mandiri Jl. Lapangan Stasiun No.2, Jakarta Barat. Phone. (021) 2600500 ext. 342/ 314 Facs. (021) 2600513
KCP JAKARTA PULO GADUNG Jl. Bekasi Raya Blok 8-I Kaveling No. 7, Cakung, Jakarta Timur. Phone. (021) 46800746, 46800198 Facs. (021) 46801198
PP JAKARTA PERGURUAN MUHAMMADIYAH TEBET Jl. Tebet Timur Raya No. 565, Tebet, Jakarta Selatan. Phone. (021) 83704332 Facs. (021) 83704332
KC JAKARTA CIBUBUR Ruko Citra Grand Blok R-2 No.8-9, Jl. Raya Alternatif, Cibubur, Jakarta Timur. Phone. (021) 84300107, 84300108 Facs. (021) 84300108, 8449778
KC JAKARTA MERUYA Jl. Meruya Ilir No. 36A, Srengseng, Jakarta Barat. Phone. (021) 58900468, 58900470 Facs. (021) 58900471, 58900469
KC JAKARTA PONDOK KELAPA Ruko Komplek Billy & Moon Blok E No. 5A-5B, Jl. Raya Kalimalang, Pondok Kelapa, Jakarta Timur. Phone. (021) 86903501 Facs. (021) 86903502 KCP BEKASI KALIMALANG Komplek Plaza Duta Permai Blok B2/23, Jl. K.H. Noer Ali (d/h Jl. Raya Kalimalang), Bekasi, Jawa Barat. Phone. (021) 8842886, 88853101 Facs. (021) 8842355 KC JAKARTA KRAMAT Jl. Kramat Raya No. 23 C, Jakarta Pusat. Phone. (021) 3900349, 3900350 Facs. (021) 3244660, 3901265, 3904715
KCP JAKARTA KEDOYA Rukan Golden Green No. 9, Jl. Panjang Kedoya Utara, Jakarta Barat. Phone. (021) 58302309, 58351053 Facs. (021) 56943609, 58351054 KCP JAKARTA TANJUNG DUREN Jl. Tanjung Duren Raya No. 129 C, Tanjung Duren Selatan, Jakarta Barat. Phone. (021) 5632891, 5632995 Facs. (021) 56964233, 56980963, 56980964 KCP JAKARTA DURI KOSAMBI Perumahan Taman Semanan Indah Blok G No. 7, Jl. Darma Kencana, Duri Kosambi, Cengkareng, Jakarta Barat. Phone. (021) 5450811, 54396002, Facs. (021) 56984701, 54390485
KC JAKARTA MANGGA DUA Jl. Mangga Dua Raya Blok E 4 Kav No. 3, Jakarta Utara. Phone. (021) 6128715, 6128716 Facs. (021) 6128615
KCP JAKARTA KALIDERES Ruko Perum Citra II Niaga Blok A No. 26, Kalideres, Jakarta Barat. Phone. (021) 54392124, 54392132 Facs. (021) 54372327, 54392191, 54374588
KC JAKARTA ROXY Pusat Niaga Roxy Mas Blok B1 No. 8, Jl. K.H. Hasyim Ashari 125, Jakarta Pusat. Phone. (021) 6330939 Facs. (021) 6337116, 6337113
KK JAKARTA TRISAKTI Universitas Trisakti Kampus A Gedung I, Jl. Kyai Tapa No.1, Jakarta Barat. Phone. (021) 56943139, 56943094 Facs. (021) 56943140
KC JAKARTA CENGKARENG Ruko Mutiara Taman Palem Blok A2 No. 9-10, Jl. Kamal Raya Outering Ring Road, Cengkareng, Jakarta Barat. Phone. (021) 54353515, 54353540 Facs. (021) 54353155
KLS JAKARTA DAAN MOGOT Kantor Cabang Bank Mandiri, Jl. Daan Mogot, Jakarta Barat. Phone. (021) 56952867 Facs. (021) 56952907 PP. JAKARTA PURI RS. Puri Mandiri Kedoya, Jl. Raya Kedoya No. 2, Jakarta Barat. Phone. (021) 58303052 Facs. (021) 58303052 KC JAKARTA KELAPA GADING Jl. Boulevard Raya No.1-I dan 1-J, Kelapa Gading, Jakarta Utara. Phone. (021) 45874646 Facs. (021) 45874747 KCP JAKARTA RAWASARI Jl. Rawasari Selatan No. 18 Blok C1, Jakarta Pusat. Phone. (021) 42800166 Facs. (021) 42800114 KCP JAKARTA GADING ORCHARD Jl. Kelapa Hibrida Raya Blok PF No. 18, Jakarta Utara. Phone. (021) 4534496, 4534497 Facs. (021) 4519899 KC JAKARTA CIPULIR Jl. Ciledug Raya Cipulir No. 123E, Jakarta Selatan. Phone. (021) 7244664, 72786414 Facs. (021) 72786360, 72786361
KC JAKARTA KALIBATA Jl. Raya Pasar Minggu No. 75, Kel. Kalibata, Kec. Pancoran, Jakarta Selatan. Phone. (021) 7940323, 7940341 Facs. (021) 7940420, 7940353 KC JAKARTA GATOT SUBROTO Gedung Menara Jamsostek, Menara Utara Lt. 1, Jl. Jendral Gatot Subroto No.38, Jakarta Selatan. Phone. (021) 2523980 Facs. (021) 2523981 KC JAKARTA HAYAM WURUK Jl. Hayam Wuruk No. 101, Kec. Tamansari, Jakarta Barat. Phone. (021) 6259000 Facs. (021) 6297427 KC JAKARTA SUNTER AGUNG Perumahan Griya Inti Sentosa Blok A1 Kav. 23-24, Kel. Sunter Agung, Kec. Tanjung Priok, Jakarta Utara. Phone. (021) 65302005, 65301550 Facs. (021) 65301982 KC JAKARTA SUDIRMAN Sequis Plaza Ground Floor Jl. Jend. Sudirman Kav. 25, Jakarta Selatan. Phone. (021) 5204792, 5204793 Facs. (021) 5204802, 5204804
JAWA BARAT KC BEKASI Komplek Pertokoan Kalimalang Comm Center, Jl. A Yani A5 No. 6-7, Bekasi, Jawa Barat. Phone. (021) 8853990, 8856368 Facs. (021) 8856406, 8840355, 8853991 KCP BEKASI CIKARANG Ruko Sentra Cikarang Jl. Cikarang Cibarusan BI. B No. 2, Cikarang, Bekasi, Jawa Barat. Phone. (021) 89902076, 89902077 Facs. (021) 89906765 KCP KARAWANG Jl. Tuparev No. 266, Kel. Nagasari, Kec. Karawang Barat, Kab. Karawang, Jawa Barat. Phone. (0267) 418451, 418452 Facs. (0267) 402070, 402720 KCP CIKAMPEK Jl. A Yani No. 5, Cikampek Kota, Karawang, Jawa Barat. Phone. (0264) 8385152, 8385154 Facs. (0264) 8385227, 8385153 KCP BEKASI TIMUR Ruko Kalimas Blok C-5, Jl. Chairil Anwar, Bekasi, Jawa Barat. Phone. (021) 70214078, 88353689 Facs. (021) 8804147, 8803805 KCP BEKASI TAMBUN Jl. Sultan Hasanuddin No. 1, Depan Koramil Tambun Selatan, Tambun, Bekasi, Jawa Barat. Phone. (021) 88377632, 88377633 Facs. (021) 88327079, 88373097 KCP BEKASI KEMANG PRATAMA Jl. Raya Kemang Pratama Blok AN No. 1B, Bekasi, Jawa Barat. Phone. (021) 82405246, 82432974 Facs. (021) 8202884 KCP CIKARANG JABABEKA Ruko Metro Boulevard Blok A 1-2, Jl. Niaga Raya Jababeka II, Cikarang, Bekasi, Jawa Barat. Phone. (021) 89842324, 89842325 Facs. (021) 89840499, 89842326 KLS JAKARTA PONDOK KELAPA Kantor Cabang Bank Mandiri, Jl. Tarum Barat Km. 4,5, Kalimalang, Bekasi, Jawa Barat. Phone. (021) 86900456 Facs. (021) 86900456 KCP BEKASI KALIMALANG Komplek Plaza Duta Permai Blok B2/23, Jl. K.H. Noer Ali (d/h Jl. Raya Kalimalang), Bekasi, Jawa Barat. Phone. (021) 8842886, 88853101 Facs. (021) 8842355 KC BOGOR Jl. Pajajaran No. 35, Bogor, Jawa Barat. Phone. (0251) 8350562, 8350563 Facs. (0251) 8350565 KCP BOGOR TAJUR Jl. Raya Tajur No. 77A, Tajur, Bogor, Jawa Barat. Phone. (0251) 8312169, 8393260 Facs. (0251) 8320472, 8323932
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Office Networks
KCP BOGOR DRAMAGA Jl. Perwira No. 151 Dramaga, Bogor, Jawa Barat. Phone. (0251) 8423026, 8628322 Facs. (0251) 8423027 KCP BOGOR MERDEKA Jl. Merdeka No. 63, Bogor, Jawa Barat. Phone. (0251) 8386570, 8386571 Facs. (0251) 8362312 KCP BOGOR JALAN BARU Jl. KH. Sholeh Iskandar No. 77 A-B, Bogor, Jawa Barat. Phone. (0251) 8377218 Facs. (0251) 8377321 KCP BOGOR CITEUREUP Jl. Mayor Oking No. 5 D, Citeureup, Bogor, Jawa Barat. Phone. (021) 87941450, 87943823 Facs. (021) 87941446 KCP BOGOR POMAD Jl. Raya Bogor No. 323, Simpang Pomad, Ciparigi, Bogor Utara, Bogor, Jawa Barat. Phone. (0251) 8660655, 8660677 Facs. (0251) 8660776 KLS BOGOR KAPTEN MUSLIHAT Kantor Cabang Bank Mandiri, Jl. Kapten Muslihat No.17, Bogor, Jawa Barat. Phone. (0251) 8348065 Facs. (0251) 8348139 KC DEPOK Ruko Depok Mas Blok A1-2, Jl. Margonda Raya No. 42, Depok, Jawa Barat. Phone. (021) 7765231, 7765251 Facs. (021) 77202905 KCP DEPOK MARGONDA Jl. Margonda Raya No. 349 A-B, Depok, Jawa Barat. Phone. (021) 7865162, 7874604 Facs. (021) 78882141, 77218314
KK DEPOK FMIPA – UI Komplek Fakultas MIPA Universitas Indonesia, Depok, Jawa Barat. Phone. (021) 78849007, 77211981 Facs. (021) 78849614 KLS DEPOK CIMANGGIS Kantor Cabang Bank Mandiri Jl. Raya Bogor KM 28, Cimanggis, Depok, Jawa Barat. Phone. (021) 87713957, 8710013 ext 14-15 Facs. (021) 87713957, 8710775 PP DEPOK YAYASAN PENDIDIKAN NURUL FIKRI Yayasan Pendidikan Nurul Fikri Jl. Situ Indah No. 116, Tugu Cimanggis, Depok, Jawa Barat. Phone. (021) 8724729 Facs. (021) 8724729 KC BEKASI PONDOK GEDE Jl. Jatiwaringin Raya No. 110 D-E, Pondok Gede, Kota Bekasi, Jawa Barat. Phone. (021) 84970255, 84900806 Facs. (021) 84970265, 84900810 KC CIBINONG Ruko Graha Cibinong Blok D No. 2, Jl. Raya Bogor KM 43 Cibinong, Bogor, Jawa Barat. Phone. (021) 87915703, 87915704 Facs. (021) 87919008
REGION III
Plaza Bumi Daya Lantai 22, Jl. Imam Bonjol No.61, Jakarta Pusat. Phone. (021) 3903969 Facs. (021) 3904492
SUMATERA SELATAN KC PALEMBANG Jl. Jend. Sudirman No. 80 Palembang, Sumatera Selatan. Phone. (0711) 367868, 366733 Facs. (0711) 354184
KCP DEPOK SAWANGAN Ruko Bukit Sawangan Indah Blok F2 No. 3, Jl. Raya Parung, Sawangan, Depok, Jawa Barat. Phone. (0251) 601771, 70628284 Facs. (0251) 619609
KCP PALEMBANG PASAR 16 ILIR Pasar 16 Ilir, Jl. Masjid Lama No. 30, Palembang, Sumatera Selatan. Phone. (0711) 377244, 377322 Facs. (0711) 353594
KCP DEPOK DUA Jl. Raya Tole Iskandar No. 29E, Sukmajaya, Depok, Jawa Barat. Phone. (021) 77835544, 77824466 Facs. (021) 77835599, 77825588
KCP PALEMBANG SIMPANG PATAL Jl. R. Sukamto No. 92A , Palembang, Sumatera Selatan. Phone. (0711) 360789, 370901 Facs. (0711) 361311, 361700
KCP DEPOK KELAPA DUA Komplek Ruko Depok, Jl. Raya Akses UI No. 9B & 9C, Kelapa Dua, Depok, Jawa Barat. Phone. (021) 87720737, 87707799 Facs. (021) 87720741, 87706916
KCP LUBUK LINGGAU Jl. Yos Sudarso No. 97, Lubuk Linggau, Sumatera Selatan. Phone. (0733) 322224 Facs. (0733) 325668
KCP DEPOK NUSANTARA Jl. Nusantara Raya No. 110, Depok Jaya, Pancoran Mas, Depok, Jawa Barat. Phone. (021) 77218797, 77218870 Facs. (021) 77218799, 7776682
KCP PALEMBANG RADIAL Jl. Brigjend. H.M. Dhanie Effendi No. 2886-2887 (Radial), Palembang, Sumatera Selatan. Phone. (0711) 350160, 350245 Facs. (0711) 351444, 373883
PT Bank Syariah Mandiri Annual Report 2010
KCP LAHAT Jl. May. Ruslan III No. 27, Pasar Lama, Lahat, Kab. Lahat, Sumatera Selatan. Phone. (0731) 323153, 325924 Facs. (0731) 324701 KCP KAYU AGUNG Jl. Letnan Muchtar Saleh No. 98, Kel. Mangun Jaya, Kec. Kayu Agung, Kab. Ogan Komering Ilir, Sumatera Selatan. Phone. (0712) 323584 Facs. (0712) 323586 KCP SUNGAI LILIN Jl. Raya Palembang-Jambi Km. 110 No. 001, Kec. Sungai Lilin, Kab. Musi Banyuasin, Sumatera Selatan. Phone. (0714) 7343026 Facs. (0714) 7343099 KLS PALEMBANG RIVAI Kantor Cabang Bank Mandiri, Jl. Kapt. A. Rivai No. 1008, Palembang, Sumatera Selatan. Phone. (0711) 320555 Facs. (0711) 356567 PP PALEMBANG RADIAL Jl. Brigjend. H.M. Dhanie Effendi (Radial) No.1429 C, Palembang, Sumatera Selatan. Phone. (0711) 350160, 350245 Facs. (0711) 351444 KC PRABUMULIH JL. Jend. Sudirman No. 7-8 Rt 01/10, Kel. Muara Dua, Kec. Prabumulih Timur, Kota Prabumulih, Sumatera Selatan. Phone. (0713) 322888 Facs. (0713) 322565
JAKARTA II
KCP DEPOK CIMANGGIS Jl. Raya Bogor KM 31, Pasar Cisalak, Cimanggis, Depok, Jawa Barat. Phone. (021) 87718007, 87712625 Facs. (021) 87720017, 87710661
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KCP PALEMBANG KM 5 Jl. H. Kol Burlian No. 7 C, Km. 5, Palembang, Sumatera Selatan. Phone. (0711) 417045, 417478 Facs. (0711) 417068
KC BATURAJA Jl. Pahlawan Kemarung Baturaja Timur, Kab. Ogan Komering Ulu, Palembang, Sumatera Selatan. Phone. (0735) 321755, 321075 Facs. (0735) 324555
JAMBI KC JAMBI Jl. Dr. Sutomo No. 11, Jambi. Phone. (0741) 27788, 27730 Facs. (0741) 27733 KCP MUARA BUNGO Jl. Prof. Muhammad Yamin, SH No. 21, Kab. Muara Bungo, Jambi. Phone. (0747) 323077 Facs. (0747) 322996 KCP JAMBI SIPIN Jl. Kapt. Bakaruddin No. 72, Jambi. Phone. (0741) 669910, 670220 Facs. (0741) 667533 KCP SAROLANGUN Jl. Lintas Sumatera No. 34, Simpang III Kantor Bupati Sarolangun, Kel. Sarolangun Kembang, Kec. Sarolangun, Kab. Sarolangun, Jambi. Phone. (0745) 92666 Facs. (0745) 92229 KLS JAMBI SIPIN Kantor Cabang Bank Mandiri, Jl. Kol. Abujani No.54, Jambi. Phone. (0741) 66522 Facs. (0741) 668220 PP JAMBI IAIN STS Komplek IAIN Sulthan Thaha Saifuddin Jl. Arif Rahman Hakim, Telanaipura, Jambi. Phone. (0741) 668069 Facs. (0741) 668069
BENGKULU KC BENGKULU Jl. Semangka No. 49, Lingkar Timur, Bengkulu. Phone. (0736) 342007, 346498 Facs. (0736) 346707 KCP CURUP Jl. Merdeka No. 289, Curup, Kab. Rejang Lebong, Bengkulu. Phone. (0732) 325480, 23848, 24458 Facs. (0732) 325447 KLS BENGKULU S.PARMAN Kantor Cabang Bank Mandiri, Jl. Letjen. S.Parman No.183, Bengkulu. Phone. (0736) 24313 Facs. (0736) 24313 PP BENGKULU UNIV. MUHAMMADIYAH Kompl. Universitas Muhammadiyah Bengkulu, Jl. Bali P.O. Box 113, Bengkulu.
LAMPUNG KC BANDARLAMPUNG Jl. R.A Kartini No. 99C - 99D, Bandarlampung, Lampung. Phone. (0721) 264088, 264188 Facs. (0721) 263588 KCP BANDARLAMPUNG METRO Jl. Ryacudu A. 8 Metro, Lampung Tengah, Bandarlampung, Lampung. Phone. (0725) 7851606 Facs. (0725) 7851605 KCP PRINGSEWU Jl. Ahmad yani No. 130, Pringsewu, Kab. Tanggamus, Lampung. Phone. (0729) 22233 Facs. (0729) 23574 KCP BANDARLAMPUNG KEDATON Jl. Teuku Umar No. 34 B, Kedaton, Bandarlampung, Lampung. Phone. (0271) 789600 Facs. (0271) 783207 KCP UNIT 2 TULANG BAWANG Jl. Raya Lintas Timur No. 24-25 Unit 2, Kampung Dwi Warga, Tunggal Jaya, Kec. Banjar Agung, Kab. Tulang Bawang, Lampung. Phone. (0726) 750169 Facs. (0726) 750279 KLS BANDARLAMPUNG TELUK BETUNG MALAHAYATI Teluk Betung, Bandarlampung, Lampung. KC Bank Mandiri Jl. Laksamana Malahayati No.3 Phone. (0721) 482646 Facs. (0721) 482668 PP BANDARLAMPUNG GREAT GIANT Kompleks PT. Great Giant Pineaple, Jl. Raya Arah Menggala KM 77, PINEAPLE COMPANY Lampung Tengah, Bandarlampung, Lampung. Phone. (0725) 7573001 Facs. (0725) 7573001 PP BANDARLAMPUNG GUNUNG MADU Kompl. Gunung Madu Plantations Km 90 Gunung Batin, Lampung Tengah, Bandarlampung, Lampung. Phone. (0725) 561700 Facs. (0725) 561800 KC BANDAR JAYA Komp. Pertokoan Central Niaga Bandar Jaya No. 1-3, Jl. Proklamator Raya, Yukum Jaya, Lampung Tengah, Lampung. Phone. (0725) 529825, 529826 Facs. (0725) 529831
JAWA BARAT KC BANDUNG Jl. Ir. H. Juanda No. 24, Kel. Citarum, Kec. Cibeunying, Bandung, Jawa Barat. Phone. (022) 84469446 Facs. (022) 84469446
KLS BANDUNG ASIA AFRIKA Kantor Cabang Bank Mandiri, Jl. Asia Afrika No. 118-120, Bandung, Jawa Barat. Phone. (022) 4267224 Facs. (022) 4267224
KCP CIANJUR Jl. Siliwangi No. 6 Pamoyanan, Cianjur, Jawa Barat. Phone. (0263) 284648 Facs. (0263) 284677
PP GARUT DARUL ARQOM Lembaga Pendidikan Ma’had Darul Arqam Muhammadiyah, Jl. Ciledug No. 264/36, Garut, Jawa Barat. Phone. (0262) 236109 Facs. (0262) 236109
KCP GARUT Jl. Cikuray No. 6, Kota Garut, Jawa Barat. Phone. (0262) 243689, 243692 Facs. (0262) 233137
KC CIREBON Jl. Siliwangi No. 102, Cirebon, Jawa Barat. Phone. (0231) 202760, 202093 Facs. (0231) 202067
KCP BANDUNG BUAH BATU Jl. Buah Batu Raya No. 151 A-B, Bandung, Jawa Barat. Phone. (022) 7302114 Facs. (022) 7322301
KCP KUNINGAN Jl. Siliwangi No. 64, Kuningan, Jawa Barat. Phone. (0232) 875205, 875206 Facs. (0232) 875502
KCP BANDUNG SETIA BUDI Jl. Setiabudi No. 169 D, Gegerkalong, Bandung, Jawa Barat. Phone. (022) 2000495, 2000544 Facs. (022) 2000588 KCP SUMEDANG Jl. Pang. Geusan Ulun No. 115, Sumedang, Jawa Barat. Phone. (0261) 205557, 205559 Facs. (0261) 201993, 205544 KCP BANDUNG METRO MARGAHAYU Komplek Metro Indah Mall Kav. C-1, Jl. Soekarno Hatta No. 590 A, Sekejati, Margacinta, Bandung, Jawa Barat. Phone. (022) 7535657 Facs. (022) 7536332 KCP BANDUNG UJUNG BERUNG Pertokoan Cyber Plaza Ruko Blok A No. 12-15, Jl. AH. Nasution No. 46A, Ujung Berung, Pakemitan, Cinambo, Bandung, Jawa Barat. Phone. (022) 87880001, 87880002 Facs. (022) 87880004 KCP BANDUNG RANCAEKEK Jl. Rancaekek Raya No. 57, Rancaekek, Bandung, Jawa Barat. Phone. (022) 7790022, 7790024 Facs. (022) 7792632 KCP CIPANAS Komplek Ruko No. 11 , Jl. Raya Cipanas, Cianjur, Jawa Barat. Phone. (0263) 520299 Facs. (0263) 520399 KCP BANDUNG PAJAJARAN Jl. Pajajaran No. 89, Kel. Arjuna, Kec. Cicendo, Bandung, Jawa Barat. Phone. (022) 6125999, 6011741 Facs. (022) 6125998, 6011457 KK BANDUNG JAPATI Gd. Kantor Pusat PT. Telkom Indonesia, Jl. Japati No. 1, Bandung, Jawa Barat. Phone. (022) 7278394 Facs. (022) 7278508 KLS BANDUNG BRAGA Kantor Cabang Bank Mandiri, Jl. Braga No. 133, Bandung, Jawa Barat. Phone. (022) 4224907 Facs. (022) 4224906 KLS BANDUNG SOEKARNO HATTA Kantor Cabang Bank Mandiri, Jl. Soekarno-Hatta No. 486, Bandung, Jawa Barat. Phone. (022) 7538771 Facs. (022) 7538771
KCP JATIBARANG Jl. Raya Siliwangi No. 16, Jatibarang, Indramayu, Jawa Barat. Phone. (0234) 356527, 356529 Facs. (0234) 351061 KCP KADIPATEN Jl. Raya Timur II, Dawuan, Kadipaten, Kab. Majalengka, Jawa Barat. Phone. (0233) 661322, 661400 Facs. (0233) 661414 KCP CIREBON PLERED Jl. Ir. H. Juanda No. 29, Plered, Cirebon, Jawa Barat. Phone. (0231) 322898 Facs. (0231) 322897 KCP INDRAMAYU Jl. Jend. Sudirman No. 176, Indramayu, Kab. Indramayu, Jawa Barat. Phone. (0234) 275052, 275134 Facs. (0234) 273435 KCP CIREBON CILEDUG Jl. Letjen S. Parman No. 13, Blok Wage Rt/Rw 06/04, Desa Jati Seeng, Kab. Cirebon, Jawa Barat. Phone. (0231) 663562, 663564 Facs. (0231) 663563 KLS CIREBON YOS SUDARSO Kantor Cabang Bank Mandiri, Jl. Yos Sudarso No. 11, Cirebon, Jawa Barat. Phone. (0231) 3360005 Facs. (0231) 3360005 PP AL AZHAR CIREBON Perguruan Islam Al-Azhar, Jl. Kampung Melati No. 7, Kesambi, Cirebon , Jawa Barat. Phone. (0231) 231035 PP CIREBON KEMENTRIAN AGAMA Jl. Sunan Derajat No. 5, Komplek Perkantoran Pemda, Kab. Cirebon, SUMBER, Jawa Barat. KC TASIKMALAYA Jl. Otto Iskandardinata No. 5, Tasikmalaya, Jawa Barat. Phone. (0265) 312995, 312999 Facs. (0265) 311199 KCP CIAMIS Komplek Pasar Manis, l. Letjend. Samuji No. 17, Jawa Barat. Phone. (0265) 761000 Facs. (0265) 777144 KCP BANJAR Jl. Letjen Soewarto No. 37, Kota Banjar, Jawa Barat. Phone. (0265) 741392, 743434 Facs. (0265) 743444, 745500
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KCP CIAWI Jl. Raya Timur Ciawi No.178, Kec. Ciawi, Kab. Tasikmalaya, Jawa Barat. Phone. (0265) 450001 Facs. (0265) 450002 KLS TASIKMALAYA RSUD Jl. Rumah Sakit No. 33, Tasikmalaya, Jawa Barat. Phone. (0265) 328613 KC PURWAKARTA Jl. Raden Edi Martadinata, RT 25 RW 05 Kel. Nagri Tengah, Kec. Purwakarta, Kab. Purwakarta, Jawa Barat. Phone. (0264) 231760 Facs. (0264) 231761 KCP SUBANG Jl. Otto Iskandardinata No. 27, Subang, Jawa Barat. Phone. (0260) 418075, 418076 Facs. (0260) 418077 KCP SUBANG PAMANUKAN Jl. Ion Martasasmita No. 32, Pamanukan, Subang, Jawa Barat. Phone. (0260) 550900 Facs. (0260) 551500 KC CIMAHI Jl. Jend. Amir Machmud No. 118, Cibabat, Cimahi, Jawa Barat. Phone. (022) 6632228 Facs. (022) 6632212 KC SUKABUMI Jl. RE. Martadinata No. 38, Gunung Parang, Cikole, Sukabumi, Jawa Barat. Phone. (0266) 243888 Facs. (0266) 243898 KCP CICURUG Jl. Siliwangi, Lebak Sari RT 02/08, Cicurug, Sukabumi, Jawa Barat. Phone. (0266) 732852 Facs. (0266) 732855 KC BANDUNG KOPO Jl. Kopo No. 36, Panjunan, Astanaanyar, Bandung, Jawa Barat. Phone. (022) 6044881, 6044882 Facs. (022) 6070100, 6073199 KC BANDUNG AHMAD YANI Jl. Jendral Ahmad Yani No. 252, Kel. Kacapiring, Kec. Batununggal, Bandung, Jawa Barat. Phone. (022) 7202688 Facs. (022) 7271334
JAWA TENGAH
PP PEKALONGAN RSI. SITI KHODIJAH RS. Islam Siti Khodijah, Jl. Bandung No. 39-47, Pekalongan, Jawa Tengah. Phone. (0285) 421988 PP RSI PKU MUHAMMADIYAH PEKAJANGAN RSI PKU Muhammadiyah Pekajangan Jl. Raya Ambokembang No. 42-43, Kedungwuni, Pekalongan, Jawa Tengah.
PP SUKOHARJO SMK MUHAMMADIYAH I Jl. Anggrek No. 2, Sukoharjo, Jawa Tengah. Phone. (0271) 592171 Facs. (0271) 592171
KC SOLO Jl. Pemuda No. 57, Ds. Bareng, Kec. Klaten Tengah, Kabupaten Klaten, Jawa Tengah. Phone. (0272) 327979 Facs. (0272) 328986
KC SEMARANG Jl. Pemuda 583-585, Semarang, Jawa Tengah. Phone. (024) 3568891, 3568894 Facs. (024) 3568890
KCP KLATEN Jl. Pemuda Tengah No. 43, Klaten, Jawa Tengah. Phone. (0272) 327979 Facs. (0272) 328986
KCP UNGARAN Ungaran Square, Jl. Diponegoro No.745, Ungaran, Semarang, Jawa Tengah. Phone. (024) 6925868, 6925865 Facs. (024) 6925869
KCP SUKOHARJO Jl. Raya Solo Permai Blok CA-61, Solo Baru, Sukoharjo, Jawa Tengah. Phone. (0271) 625255 Facs. (0271) 621003 KCP SRAGEN Jl. Sukowati No. 111, Sragen, Jawa Tengah. Phone. (0271) 893096 Facs. (0271) 893098 KCP BOYOLALI Jl. Pandanaran No. 157, Boyolali, Jawa Tengah. Phone. (0276) 324763 Facs. (0276) 325354 KCP SUKOHARJO PALUR Jl. Raya Palur No. 307, Palur, Sukoharjo, Jawa Tengah. Phone. (0271) 821943, 821944 Facs. (0271) 826899 KCP SOLO PASAR KLIWON Jl. Kapten Mulyadi No. 228 D-E, Pasar Kliwon, Solo, Jawa Tengah. Phone. (0271) 656300, 652190 Facs. (0271) 656300#111 KCP SUKOHARJO KARTASURA Ruko Kartasura A No. 1, Jl. Raya Kartasura, Kartasura, Sukoharjo, Jawa Tengah. Phone. (0271) 784855, 784866 Facs. (0271) 780514 KCP WONOGIRI Jl. Jend. Sudirman No. 138, Wonogiri, Jawa Tengah. Phone. (0273) 321574 Facs. (0273) 324058
KC PEKALONGAN Jl. Merdeka No. 5, Pekalongan, Jawa Tengah. Phone. (0285) 434911, 434912 Facs. (0285) 434894
KCP SOLO URIP SUMOHARJO Jl. Urip Sumoharjo No. 71, Kepatihan Wetan, Jebres, Solo, Jawa Tengah. Phone. (0271) 647866 Facs. (0271) 647976
KCP PEMALANG Jl. Jend. Sudirman No. 129, Pemalang, Jawa Tengah. Phone. (0284) 326048, 326049 Facs. (0284) 321291
KK SURAKARTA PASAR KLEWER Jl. Pasar Klewer Blok F No. 8, Surakarta, Jawa Tengah. Phone. (0271) 642336 Facs. (0271) 642336
KCP BATANG Jl. Jend. Sudirman No. 601, Batang, Jawa Tengah. Phone. (0285) 4495227 Facs. (0285) 4495233
KK SOLO ASSALAAM Jl. Garuda Mas No. 4, Pabelan Sukoharjo, Solo, Jawa Tengah. Phone. (0271) 719943 Facs. (0271) 719682
KLS PEKALONGAN PEKAJANGAN STIKES Muhammadiyah, Jl. Raya Ambokembang No.8, Pekalongan, Jawa Tengah. Phone. (0285) 785375 Facs. (0285) 785375
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PT Bank Syariah Mandiri Annual Report 2010
PP SURAKARTA ASSALAM Pondok Pesantren Modern Islam ‘Assalam’ Kartasura, Sukoharjo, Kotak Pos 286 Surakarta, Jawa Tengah. Phone. (0271) 737432 Facs. (0271) 737432
KLS SOLO SLAMET RIYADI Kantor Cabang Bank Mandiri, Jl. Brigjen Slamet Riyadi No. 16, Solo, Jawa Tengah. Phone. (0271) 647999 Facs. (0271) 647999
KCP MAGELANG Ruko TOP Square Blok A-5, Jl. Tentara Pelajar No. 1-5, Magelang, Jawa Tengah. Phone. (0293) 310260 Facs. (0293) 310283 KCP SEMARANG KARANGAYU Ruko Siliwangi Plaza Blok A-5, Jl. Jend. Sudirman No. 187-189, Karangayu, Semarang, Jawa Tengah. Phone. (024) 70773184 Facs. (024) 7603139 KCP SEMARANG TIMUR Jl. Majapahit No. 339 Kav. A, Gemah, Pedurungan, Semarang, Jawa Tengah. Phone. (024) 76747824 Facs. (024) 76747825 KCP PURWODADI Jl. R. Suprapto No.90, Kel. Purwodadi, Kec. Purwodadi, Kab. Grobogan, Jawa Tengah. Phone. (0292) 424019 Facs. (0292) 421619 KCP TEMANGGUNG Jl. S. Parman No. 10, Temanggung, Jawa Tengah. Phone. (0293) 4900006 Facs. (0293) 4900007 KLS SEMARANG PANDANARAN Kantor Cabang Bank Mandiri, Jl. Pandanaran No. 104, Semarang, Jawa Tengah. Phone. (024) 8455043 Facs. (024) 8455043 PP SEMARANG RS. ROEMANI Komplek RS. Roemani, Jl. Wonodri No. 22, Semarang, Jawa Tengah. Phone. (024) 8444623 Facs. (024) 8444623 KC PURWOKERTO Jl. Jend. Sudirman No. 443, Purwokerto, Jawa Tengah. Phone. (0281) 641108, 641685 Facs. (0281) 625955 KCP PURBALINGGA Jl. Jend. Sudirman No. 2, Purbalingga, Jawa Tengah. Phone. (0281) 891414, 895353 Facs. (0281) 895567 KCP BANJARNEGARA Jl. Letnan Jend. Suwondo Parman No. 31, Kab. Banjarnegara, Jawa Tengah. Phone. (0286) 5985994, 5985995 Facs. (0286) 5985998
PP CILACAP AL AZHAR Perguruan Islam Al Azhar, Jl. Galunggung No. 8 RT 04/11, Kel. Sidanegara, Kec. Cilacap Tengah, Cilacap, Jawa Tengah. Phone. (0282) 536362
KK YOGYAKARTA UMY Kampus Terpadu UMY Yogyakarta, Gd AR Fachruddin Rektorat B, Jl. Lingkar Barat, Tamantirto Kasihan, Bantul, Yogyakarta. Phone. (0274) 450215 Facs. (0274) 387655
KC TEGAL Jl. Gajah Mada No. 90, Tegal, Jawa Tengah. Phone. (0283) 325300, 325301 Facs. (0283) 351460
KK YOGYAKARTA UII Universiatas Islam Indonesia, Ruang PPKF Lt. I, Fakultas Teknik Sipil, Yogyakarta. Phone. (0274) 898412, 898549 Facs. (0274) 898564
KCP BREBES Jl. Ahmad Yani No. 21, Brebes, Jawa Tengah. Phone. (0283) 6177837 Facs. (0283) 6177577
KK BANTUL Jl. Jend. Sudirman No. B1-2, Bantul, Yogyakarta. Phone. (0274) 367861, 367871 Facs. (0274) 367857
KLS TEGAL ARIF RAHMAN Kantor Cabang Bank Mandiri, Jl. Arif Rahman Hakim No. 19, Tegal, Jawa Tengah. Phone. (0283) 324100 Facs. (0283) 324100
PP YOGYAKARTA JIH Jogja International Hospital (JIH), Jl. Ring Road Utara No.160, Depok, Sleman, Yogyakarta. Phone. (0274) 4463052 Facs. (0274) 4463025
KC KUDUS Ruko Ahmad Yani No. 9, Jl. Ahmad Yani Kab Kudus, Semarang, Jawa Tengah. Phone. (0291) 439272 Facs. (0291) 439274
PP YOGYAKARTA UIN SUNAN KALIJAGA Komp. UIN Sunan Kalijaga Jl. Marsda Adi Sucipto. Gd. Kampus Service Center UIN, Yogyakarta. Phone. (0274) 519742 Facs. (0274) 519742
KC CILACAP Jl. Ahmad Yani No. 97, Cilacap, Jawa Tengah. Phone. (0282) 531015, 531038 Facs. (0282) 535870
PP YOGYAKARTA UAD Universitas Ahmad Dahlan, Jl. Kapas No. 9, Semaki, Yogyakarta. Phone. (0274) 560310 Facs. (0274) 511829
KC PATI Jl. P. Sudirman No. 207, Plaza Pati Blok A1-A2, Kel. Pati Lor, Kab. Pati, Jawa Tengah. Phone. (0295) 386699 Facs. (0295) 387799
PP YOGYAKARTA UAD II Universitas Ahmad Dahlan, Jl. Pramuka No. 42 Sidikan, Yogyakarta.
KEPULAUAN BANGKA BELITUNG KC PANGKAL PINANG Jl. Masjid Jamik No. 123, Pangkal Pinang, Kep. Bangka Belitung. Phone. (0717) 432229, 433177 Facs. (0717) 431445
REGION IV SURABAYA
KALIMANTAN BARAT DI. YOGYAKARTA KC YOGYAKARTA Gedung UII, Jl. Cik Dik Tiro No. 1 Yogyakarta. Phone. (0274) 555022, 555024 Facs. (0274) 555021 KCP YOGYAKARTA KALIURANG Jl. Kaliurang Km. 6,4 No. B 6-A, Yogyakarta. Phone. (0274) 887041, 887053 Facs. (0274) 887047 KCP WONOSARI Jl. Sumarwi No. 30, Wonosari, Gunung Kidul, Yogyakarta. Phone. (0274) 391854 Facs. (0274) 391181 KCP YOGYAKARTA KATAMSO Jl. Brigjen Katamso No. 160, Keparakan, Mergangsan, Yogyakarta. Phone. (0274) 412424, 418084 Facs. (0274) 377290 KCP YOGYAKARTA AMBARUKMO Jl. Laksda Adi Sucipto No. 167, Kp. Ambarukmo Blok I, Caturtunggal, Depok, Sleman, Yogyakarta. Phone. (0274) 484202, 4533873 Facs. (0274) 484859 KCP GODEAN Ruko Gading Mas, Jl. Godean Km. 4,4 No. 8 A, Sleman, Yogyakarta. Phone. (0274) 626027, 617798 Facs. (0274) 617798 KCP YOGYAKARTA KOTAGEDE Jl. Gedong Kuning Selatan No. 5, Purbayan, Kotagede, Yogyakarta. Phone. (0274) 4438989, 4439102 Facs. (0274) 4439200
KC PONTIANAK Jl. Diponegoro No. 95 Pontianak, Kalimantan Barat. Phone. (0561) 745004 Facs. (0561) 744774 KCP SINTANG Jl. M.T. Haryono No. 55, Sintang, Kalimantan Barat. Phone. (0565) 23322 Facs. (0565) 23232 KCP NANGAH PINOH Jl. Juang Blok C No. 03, Nanga Pinoh, Melawi, Kalimantan Barat. Phone. (0568) 22133 Facs. (0568) 22757 KCP PONTIANAK KOTA Jl. Diponegoro No. 95, Pontianak, Kalimantan Barat. Phone. (0561) 737133 Facs. (0561) 737376 KK PONTIANAK POLITEKNIK Kampus Politeknik Negeri, Jl. A. Yani No. 52, Pontianak, Kalimantan Barat. Phone. (0561) 583850 Facs. (056) 583844 KLS PONTIANAK SIDAS Kantor Cabang Bank Mandiri, Jl. Sidas No. 2, Pontianak, Kalimantan Barat. Phone. (0561) 7069797 Facs. (0561) 763082 KC KETAPANG Jl. MT. Haryono No. 111-112 Ketapang, Kalimantan Barat. Phone. (0534) 34600 Facs. (0534) 34395 KC SAMBAS Jl. Gusti Hamzah No.41, Dusun Kubu, Desa Durian, Kec. Sambas, Kab. Sambas, Kalimantan Barat. Phone. (0562) 392200 Facs. (0562) 391900
Komplek Darmo Galeria Blok C-1, Jl. Mayjend Sungkono No.75, Surabaya, Jawa Timur. Phone. (031) 5610554 Facs. (031) 5610556
JAWA TIMUR KC SURABAYA Jl. Raya Darmo No. 17, Surabaya, Jawa Timur. Phone. (031) 5674848, 5679842 Facs. (031) 5679841, 5677062 KCP MOJOKERTO Komplek Ruko Royal Regency, Jl. Pahlawan No. 7 Blok R-16, Mojokerto, Jawa Timur. Phone. (0321) 333030 Facs. (0321) 333028 KCP SURABAYA AMPEL Jl. KH. Mas Mansyur No. 77, Surabaya, Jawa Timur. Phone. (031) 3574850, 3574851 Facs. (031) 3537102, 3574940 KCP TUBAN Jl. Basuki Rakhmat No. 278, Tuban, Jawa Timur. Phone. (0356) 333654, 333765 Facs. (0356) 322059 KCP JOMBANG Ruko Cempaka Mas Blok A/9, Jl. Soekarno-Hatta No. 1, Jombang, Jawa Timur. Phone. (0321) 855527, 855528 Facs. (0321) 855526 KCP SURABAYA SUNGKONO Komplek Ruko Darmo Galeria, Jl. Mayjen Sungkono No. 75, Blok B-3, Surabaya, Jawa Timur. Phone. (031) 5632255, 5630380 Facs. (031) 5623496 KCP SURABAYA JEMUR HANDAYANI Jl. Jemur Handayani No. 3, Surabaya, Jawa Timur. Phone. (031) 8411230, 8411250 Facs. (031) 8411260 KCP SURABAYA MULYOSARI Jl. Raya Mulyosari No. 24 C, Surabaya, Jawa Timur. Phone. (031) 5911284, 5911286 Facs. (031) 5949222 KCP SURABAYA WIYUNG Ruko Taman Pondok Indah, Jl. Raya Wiyung No. A-24, Surabaya, Jawa Timur. Phone. (031) 7665621, 7673005 Facs. (031) 7661364 KCP SURABAYA DHARMAHUSADA Jl. Dharmahusada No. 147, Surabaya, Jawa Timur. Phone. (031) 5962361, 5966285 Facs. (031) 5966281, 5967744
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KCP SURABAYA KAPAS KRAMPUNG Jl. Kapas Krampung No. 108, Surabaya, Jawa Timur. Phone. (031) 5012277 Facs. (031) 5014627 KCP KRIAN Jl. Imam Bonjol No. 108, Krian, Sidoarjo, Jawa Timur. Phone. (031) 8981741, 8981742 Facs. (031) 8981740, 8981743 KCP SURABAYA TANJUNG PERAK Jl. Perak Timur No. 564 Blok A2, Surabaya, Jawa Timur. Phone. (031) 3286372, 3285301 Facs. (031) 3286917 KCP SURABAYA BARATA Jl. Ngagel Jaya Selatan RMI B-4, Kel. Baratajaya, Kec. Gubeng, Surabaya, Jawa Timur. Phone. (031) 5024986, 5025150 Facs. (031) 5025121, 5025082 KLS SURABAYA DIPONEGORO Kantor Cabang Bank Mandiri, Jl. Raya Diponegoro No. 155, Surabaya, Jawa Timur. Phone. (031) 5676748 Facs. (031) 5676748 KLS SURABAYA KUSUMA BANGSA Kantor Cabang Bank Mandiri, Jl. Kusuma bangsa No. 106, Surabaya, Jawa Timur. Phone. (031) 5350157 (031) 5350157 KLS SURABAYA JEMBATAN MERAH Kantor Cabang Bank Mandiri, Jl. Jembatan Merah No. 25 - 27, Surabaya, Jawa Timur. Phone. (031) 3544928 Facs. (031) 3544928 PP SIDOARJO UMSIDA Universitas Muhammadiyah, Jl. Majapahit No. 666 B, Sidoarjo, Jawa Timur. Phone. (031) 8959961 Facs. (031) 8959961 PP SIDOARJO AL MUSLIM Yayasan Al Muslim, Jl. Raya Wadung Asri 39-F, Waru Sidoarjo, Jawa Timur. Phone. (031) 60112416 Facs. (031) 8674386 PP SURABAYA ITATS Kampus ITATS, Jl. Arif Rachman Hakim No. 100, Surabaya, Jawa Timur. Phone. (031) 5912381 Facs. (031) 5912381 PP PONPES QOMARUDIN Yayasan Pondok Pesantren Qomaruddin (YPPQ), Jl. Raya Bungah 01, Bungah, Gresik, Jawa Timur. PP RS. SITI KHODIJAH MUHAMMADIYAH Jl. Pahlawan No.260, Sepanjang, Sidoarjo, Jawa Timur. Phone. (031) 7876065 Facs. (031) 7876065 PP JOMBANG UNIPDU Universitas Pesantren Tinggi Darul Ulum, Desa Rejoso, Peterongan, Jombang, Jawa Timur. Phone. (0321) 873655, 861097 Facs. (0321) 866631 PP SURABAYA AL FITHRAH Jl. Kedinding Lor No. 99, Surabaya, Jawa Timur. Phone. (031) 3761376 KC PAMEKASAN Jl. KH. Agus Salim No. 3A, Pamekasan, Jawa Timur Phone. (0324) 331223, 331224 Facs. (0324) 331218, 331225
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KCP BANGKALAN Jl. KH. Moh. Sholeh No. 52, Bangkalan, Jawa Timur Phone. (031) 3093380 Facs. (031) 3093379 KCP SUMENEP Jl. Trunojoyo No. 49, Kelurahan Pajagalan, Kecamatan Kota Sumenep, Kabupaten Sumenep, Jawa Timur. Jawa Timur. Phone. (0328) 673431 Facs. (0328) 669300 KCP SAMPANG Jl. KH. Wahid Hasyim No. 24, Sampang, Jawa Timur. Phone. (0323) 324123 Facs. (0323) 324111 KC MALANG Jl. Basuki Rachmad No. 8, Kayutangan, Malang, Jawa Timur. Phone. (0341) 362122 Facs. (0341) 347933 KCP PASURUAN Jl. Panglima Sudirman No. 14C, Pasuruan, Jawa Timur. Phone. (0343) 431588, 431589 Facs. (0343) 431618 KCP PROBOLINGGO Ruko Manunggal No. 7, Jl. Soekarno-Hatta, Probolinggo, Jawa Timur. Phone. (0335) 428899 Facs. (0335) 420530 KCP MALANG BATU Jl. Diponegoro 48, Kota Batu, Jawa Timur. Phone. (0341) 5025550, 5025551 Facs. (0341) 594273 KCP KEPANJEN Jl. Ahmad Yani No. 103 B, Kepanjen, Kab. Malang, Jawa Timur. Phone. (0341) 396093 Facs. (0341) 391358 KCP PANDAAN Pertokoan Central Niaga Blok A1, Jl. Ahmad Yani No. 321, Pandaan, Pasuruan, Jawa Timur. Phone. (0343) 639262, 639263 Facs. (0343) 639266 KCP LUMAJANG Jl. Panglima Besar Sudirman No.45, Kel. Tompokersan, Kec. Lumajang, Kab. Lumajang, Jawa Timur. Phone. (0334) 882795, 889635 Facs. (0334) 881335 KCP LAWANG Perumahan Lawang View, Ruko 3-4 Kavling III, Jl. Raya Lawang View, Kel. Lawang, Kec. Lawang, Kab. Lawang, Jawa Timur. Phone. (0341) 423200 Facs. (0341) 423419 PP MALANG KUCECWARA Kampus STIE Malang Kucecwara, Jl. Candi Kalasan, Malang, Jawa Timur. Phone. (0341) 7788979 PP MALANG MTS Madrasah Tsanawiyah Negeri Malang 1, Jl. Bandung No. 7, Malang, Jawa Timur. Phone. (0341) 5464532
Phone. (0355) 334455 Facs. (0355) 333130 KCP KEDIRI PARE Jl. W. R. Supratman No. 11 A, Pare, Kediri, Jawa Timur. Phone. (0354) 397111 Facs. (0354) 397804 KCP NGANJUK Jl. Ahmad Yani No. 199, Kel. Payaman, Kec. Nganjuk, Kab. Nganjuk, Jawa Timur. Phone. (0358) 324700 Facs. (0358) 324798 KC JEMBER Jl. Panglima Besar Sudirman No. 41-43, Jember, Jawa Timur. Phone. (0331) 411522 Facs. (0331) 411525 KCP BONDOWOSO Jl. Panglima Besar Sudirman No. 1, Bondowoso, Jawa Timur. Phone. (0332) 427999 Facs. (0332) 432844 KCP SITUBONDO Jl. Pemuda No.187, Situbondo, Jawa Timur. Phone. (0338) 671700 Facs. (0338) 674121 KK JEMBER BALUNG Jl. Rambipuji No. 78, Kab. Jember, Jawa Timur. Phone. (0336) 621717 (0336) 621711 KK JEMBER PASAR TANJUNG Jl. Trunojoyo No. 165 A, Jember, Jawa Timur. Phone. (0331) 411744 Facs. (0331) 410833 PP JEMBER UNMUH Universitas Muhammadiyah Jember, Jl. Karimata No. 49, Jember, Jawa Timur. Phone. (0331) 335806 Facs. (0331) 335806 PP JEMBER STAIN Sekolah Tinggi Agama Islam Negeri Jember, Jl. Jum’at No. 94, Mangil, Jember, Jawa Timur. Phone. (0331) 411500 Facs. (0331) 411500 KC BANYUWANGI Jl. Basuki Rakhmat No. 30, Kel. Singotrunan, Kec. Banyuwangi, Kab. Banyuwangi, Jawa Timur. Phone. (0333) 418624, 418625 Facs. (0333) 418628, 418626, 418627 KCP GENTENG Jl. Gajah Mada no.159 (d.h. Jl. D.P.U), Kel. Genteng Kulon, Kec. Genteng, Kab Banyuwangi, Jawa Timur. Phone. (0333) 842891, 842892 Facs. (0333) 842893 KC GRESIK JL. RA. Kartini No. 180, Gresik, Jawa Timur. Phone. (031) 3972053 Facs. (031) 3972065, 3979791 KCP LAMONGAN Jl. Panglima Sudirman Ruko L1 Blok A10-A11, Kec. Lamongan, Kab. Lamongan, Jawa Timur. Phone. (0322) 324996, 324997 Facs. (0322) 322338, 324998
KC KEDIRI Jl. Brawijaya No. 10, Kediri, Jawa Timur. Phone. (0354) 672000 Facs. (0354) 672105
KC SIDOARJO Komplek Ruko Central B1 A/3, Jl. Jenggolo No. 9, Sidoarjo, Jawa Timur. Phone. (031) 8946449, 8947231 Facs. (031) 8957429, 8921033, 8922129
KCP TULUNGAGUNG Ruko Kepatihan 7-8, Jl. Panglima Sudirman No. 51, Tulungagung, Jawa Timur.
KC BOJONEGORO Jl. Panglima Sudirman No. 99A, Kab. Bojonegoro, Jawa Timur.
Phone. (0353) 892124, 892125 Facs. (0353) 892123 KC MADIUN Jl. Cokroaminoto No. 41, Madiun, Jawa Timur. Phone. (0351) 454000 Facs. (0351) 458300 KC SURABAYA BOULEVARD Jl. Bukit Darmo Golf Blok B1-20, Desa Pradah Kalikendal, Kec. Dukuh Pakis, Surabaya. Phone. (031) 7345599 Facs. (031) 7346788 KC BLITAR Jl. Tanjung No.A4-A5, Kel. Sukorejo, Kec. Sukorejo, Kotamadya Blitar, Jawa Timur. Phone. (0342) 816999 Facs. (0342) 816777
BALI KC DENPASAR Teuku Umar Square. Jl. Teuku Umar No. 177, Denpasar, Bali. Phone. (0361) 231999 Facs. (0361) 237100 KCP BULELENG Jl. Erlangga No.14, Buleleng, Bali. Phone. (0362) 32666, 25968 Facs. (0362) 27747, 25969 KCP DENPASAR GATOT SUBROTO Jl. Gatot Subroto No. 45, Desa Putri Kaja, Kec. Denpasar Barat, Kota Denpasar, Bali. Phone. (0361) 432595 Facs. (0361) 434045 KK KUTA Jl. Raya Legian No. 448, Kuta, Badung, Bali. Phone. (0361) 754222 (0361) 763415 NUSA TENGGARA BARAT KC MATARAM Jl. Hasanudin No. 40, Mataram, Nusa Tenggara Barat. Phone. (0370) 644888, 622300 Facs. (0370) 634999, 622700 KCP SUMBAWA Jl. Diponegoro No. 40, Sumbawa, Nusa Tenggara Barat. Phone. (0371) 22255 Facs. (0371) 625300 KCP MATARAM PANCOR Jl. TG KH. Muhammad Zainuddin Abdul Majid No.1, Pancor, Mataram, Nusa Tenggara Barat. Phone. (0376) 23772, 23774 Facs. (0376) 23773 KCP PRAYA Jl. Jenderal Sudirman No. 1, Praya, Lombok Tengah, Nusa Tenggara Barat. Phone. (0370) 653159 Facs. (0370) 654394 KCP BIMA Jl. Sultan Kaharudin, Kompleks Sultan Square A4-A5, Kec. Saranae Barat, Bima, Nusa Tenggara Barat. Phone. (0374) 44222 Facs. (0374) 44448 PP MATARAM IAIN Komplek Institut Agama Islam Negeri (IAIN), Nusa Tenggara Barat.
Phone. (0370) 648666 Facs. (0370) 648666 KALIMANTAN SELATAN KC BANJARMASIN Jl. Lambung Mangkurat No. 16, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3366408, 3366409 Facs. (0511) 3366426 KCP BANJARMASIN A. YANI Jl. Ahmad Yani Km. 4 No. 27, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3250033,3250022 Facs. (0511) 3252974 KCP BATULICIN Jl. Raya Batulicin RT. 24 No. 193, Kel Kampung Baru, Kec Batulicin, Kab. Tanah Bumbu, Kalimantan Selatan. Phone. (0518) 70222, 75497 Facs. (0518) 75496 KCP BARABAI Jl. Ir. PM. Noor, Barabai, Kalimantan Selatan. Phone. (0517) 44121, 44141 Facs. (0517) 41909 KCP BANJARMASIN PS. CEMPAKA Jl. Niaga No. 7, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3366008, 366009 Facs. (0511) 3361101 KCP BANJARMASIN SENTRA ANTASARI Jl. P. Antasari No. 75, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3269969, 3268188 Facs. (0511) 3254445 KCP PELAIHARI Jl. Haji Boejasin RT. 21 RK. VI, Kel. Angsau, Kec. Pelaihari, Kab. Tanah Laut, Kalimantan Selatan. Phone. (0512) 22223 Facs. (0512) 22600 KCP KOTABARU Jl. Veteran No. 8 RT. 02 RW. 1, Desa Dirgahayu, Kec. Pulau Laut Utara, Kab. Kotabaru, Kalimantan Selatan. Phone. (0518) 21777 Facs. (0518) 22444 KK BANJARMASIN S. PARMAN RS. Islam Banjarmasin (Eks-Siolatama), Jl. Suwondo Parman No. 88, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3366033, 3366034 Facs. (0511) 33560254 KK BANJARBARU Jl. Ahmad Yani Km. 33,300, Banjarbaru, Kalimantan Selatan. Phone. (0511) 4789947, 4789948 Facs. (0511) 4789949 KLS BANJARMASIN AHMAD YANI Kantor Cabang Bank Mandiri, Jl. Ahmad Yani KM. 2 No. 4-5, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3255829 Facs. (0511) 3255829 KLS BANJARMASIN SAMUDERA Kantor Cabang Bank Mandiri, Jl. Lambung Mangkurat No. 4, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3364647 Facs. (0511) 3364647 PP BANJARMASIN POLIBAN Komplek Politeknik Negeri, Jl. Brigjend H. Hasan Basry, Banjarmasin, Kalimantan Selatan.
Phone. (0511) 3304371 Facs. (0511) 3304372 PP BANJARMASIN SD MUHAMMADIYAH SD Muhammadiyah VIII & X, Jl. Cempaka I RT. 3 Kel Kertak Baru Ulu, Banjarmasin, Kalimantan Selatan. Phone. (0511) 3361808 Facs. (0511) 3361808 KC MARTAPURA Jl. A. Yani KM 40 No. 5, Martapura, Kalimantan Selatan. Phone. (0511) 4722713, 4722755 Facs. (0511) 4722714 KC TANJUNG Jl. Ir. Pangeran Haji Muhammad Noor No. 58, Desa Pembataan, Kec. Murung Pudak, Kab. Tabalong, Kalimantan Selatan. Phone. (0526) 2024484 Facs. (0526) 2024494
KALIMANTAN TIMUR KC BALIKPAPAN Jl. Jend. Sudirman No. 330, Balikpapan, Kalimantan Timur. Phone. (0542) 413382, 414630 Facs. (0542) 412109 KCP BALIKPAPAN SEPINGGAN Jl. Marsma Iswahyudi No. 471 Rt. 028, Kel. Sepinggan, Kec. Balikpapan Selatan, Kota Balikpapan, Kalimantan Timur. Phone. (0542) 771505, 771507 Facs. (0542) 771509 KCP BALIKPAPAN BARU Ruko Balikpapan Baru Blok C No. 1 B, Jl. M.T. Haryono, Balikpapan, Kalimantan Timur. Phone. (0542) 8870125, 8870149 Facs. (0542) 8870126 KLS BALIKPAPAN SUPRAPTO Kantor Cabang Bank Mandiri, Jl. Letjen Suprapto No. 1 Balikpapan, Kalimantan Timur. Phone. (0542) 425704 Facs. (0542) 425704 KC SAMARINDA Jl. Jenderal Sudirman No. 24, Samarinda, Kalimantan Timur. Phone. (0541) 203012, 203013 Facs. (0541) 203017 KCP BONTANG Jl. MT. Haryono No. 53 Kodya Bontang, Kalimantan Timur. Phone. (0548) 20007 Facs. (0548) 25005 KCP TARAKAN Jl. Yos Sudarso No. 64, Tarakan, Kalimantan Timur. Phone. (0551) 35050 Facs. (0551) 35051 KCP PAHLAWAN Jl. Pahlawan Blok F No. 5 B, Kel. Dadimulya, Kec. Samarinda Ulu, Samarinda, Kalimantan Timur. Phone. (0541) 731200 Facs. (0541) 731299 KK SAMARINDA LAMBUNG MANGKURAT Jl. Lambung Mangkurat No. 18 B, Samarinda, Kalimantan Timur. Phone. (0541) 735444 Facs. (0541) 767459 KLS SAMARINDA KESUMA BANGSA Kantor Cabang Bank Mandiri Jl. Kesuma Bangsa No. 76 Samarinda, Kalimantan Timur. Phone. (0541) 732732 Facs. (0541) 732732
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KC KUTAI Jl. KH. Akhmad Muksin No. 29, Tenggarong, Kab. Kutai, Kalimantan Timur. Phone. (0541) 665362, 665365 Facs. (0541) 665361
SULAWESI SELATAN
PP MAKASSAR UNISMUH Kampus Universitas Muhammadiyah Makassar, Jl. St. Alauddin No. 259, Makassar, Sulawesi Selatan.
KC PANGKALAN BUN Jl. Sukma Arianingrat No. 14, Kel. Baru, Kec. Arut Selatan, Kab. Kota Waringin Barat, Kalimantan Tengah. Phone. (0532) 25624, 25625 Facs. (0532) 25636
SULAWESI TENGAH SULAWESI TENGGARA
KC MAKASSAR Jl. Dr. Ratulangi No. 88 B-C-D, Makassar, Sulawesi Selatan. Phone. (0411) 833070 Facs. (0411) 833069 KCP BONE Jl. Jend. Ahmad Yani No. 48, Watampone, Kab. Bone, Sulawesi Selatan. Phone. (0481) 28774 Facs. (0481) 28775 KCP MAKASSAR PANAKUKKANG Jl. Boulevard, Ruko Jasper II No. 11 Panakukkang, Makassar, Sulawesi Selatan. Phone. (0411) 455151 Facs. (0411) 455152 KCP BULUKUMBA Jl. Lanto Dg. Passewang No. 33, Bulukumba, Sulawesi Selatan. Phone. (0413) 83088 Facs. (0413) 82099
KC PALU Jl. Gajahmada No. 77 Palu, Sulawesi Tengah. Phone. (0451) 426222 Facs. (0451) 452108 KCP LUWUK Jl. Jenderal Ahmad Yani No. 112, Luwuk, Kab. Banggai, Sulawesi Tengah. Phone. (0461) 21214, 22779 Facs. (0461) 325456
KC KENDARI Jl. Abdullah Silondae No.135, Kel. Korumba, Kec. Mandonga, Kota Kendari, Sulawesi Tenggara. Phone. (0401) 3128822, 3128245 Facs. (0401) 3127478, 3128897
SULAWESI BARAT KCP PARIGI MOUTONG Jl. Trans Sulawesi, Parigi Moutong, Sulawesi Tengah. Phone. (0450) 21345, 21402 Facs. (0450) 21411, 21403, 21409 KCP PALU PLAZA Komplek Palu Plaza Blok IV, Jl. Sis Al Jufri, Palu, Sulawesi Tengah. Phone. (0451) 427769, 426093 Facs. (0451) 426182, 426721
KCP PARE PARE Jl. Bau Massepe No. 419 D, Pare-pare, Sulawesi Selatan. Phone. (0421) 26699 Facs. (0421) 26566
KCP MOROWALI Jl. Trans Sulawesi, Ds. Matansala, Kec. Bungku Tengah, Kab. Morowali, Sulawesi Tengah. Phone. (0451) 452108
KCP PALOPO Jl. Andi Djemma No. 4, Palopo, Sulawesi Selatan. Phone. (0421) 325936 Facs. (0421) 325929
KLS PALU SAM RATULANGI Kantor Cabang Bank Mandiri, Jl. Dr. Sam Ratulangi No. 60 Palu, Sulawesi Tengah. Phone. (0451) 454999 Facs. (0451) 452666
KC MAMUJU Jl. Urip Sumoharjo No. 44, Mamuju, Sulawesi Barat. Phone. (0426) 22651, 2703380 Facs. (0426) 21922
NUSA TENGGARA TIMUR KC KUPANG JL. Sudirman No. 33, Kupang, Nusa Tenggara Timur. Phone. (0380) 834100, 823466 Facs. (0380) 826150, 828617
MALUKU
KCP SENGKANG Jl. RA Kartini No.86, Kel. Pattirosompe, Kec. Tempe, Kab. Wajo, Sulawesi Selatan. Phone. (0485) 324080 Facs. (0485) 323898 KK MAKASSAR DAYA Jl. Kapasa Raya No. 29A, Makassar, Sulawesi Selatan. Phone. (0411) 4722422 Facs. (0411) 4722280 KLS MAKASSAR SULAWESI Kantor Cabang Bank Mandiri, Jl. Sulawesi No. 81 Makassar, Sulawesi Selatan. Phone. (0411) 335545 Facs. (0411) 331971 KLS MAKASSAR COKROAMINOTO Kantor Cabang Bank Mandiri, Jl.H.O.S Cokroaminoto No.3, Makassar, Sulawesi Selatan. Phone. (0411) 334464 Facs. (0411) 334464 KLS MAKASSAR KARTINI Kantor Cabang Bank Mandiri, Jl. R.A Kartini No. 12-14, Makassar, Sulawesi Selatan. Phone. (0411) 325789 Facs. (0411) 325789 PP WATAMPONE STAIN Sekolah Tinggi Agama Islam Negeri (STAIN) Watampone, Jl. HOS. Cokroaminoto, Watampone, Sulawesi Selatan. Phone. (0481) 22050 Facs. (0481) 22050 PP MAKASSAR RS. IBNU SINA Rumah Sakit Ibnu Sina, Jl. Urip Sumoharjo No. 264 Km. 4, Makassar, Sulawesi Selatan. Phone. (0411) 420700 Facs. (0411) 420095
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KC AMBON Jl. Diponegoro No. 33, Ahusen, Sirimau, Ambon, Maluku. Phone. (0911) 355478, 355458 Facs. (0911) 355468, 355498
SULAWESI UTARA KC MANADO Kawasan Mega Mas, Jl. Piere Tendean, Boulevard Blok I D-1 No. 28, Manado, Sulawesi Utara. Phone. (0431) 879444 Facs. (0431) 879492
MALUKU UTARA KC TERNATE Ruko Jatiland Business Center No. 19-20, Ternate, Maluku Utara. Phone. (0921) 3127220 Facs. (0921) 3127336
PAPUA PAPUA BARAT KC JAYAPURA Komplek Perniagaan Kelapa Dua - Entrop Jl. Raya Kelapa Dua No. 1-2, Entrop, Jayapura, Papua. Phone. (0967) 550965, 550966 Facs. (0967) 550968
GORONTALO KC GORONTALO Jl. Ahmad Yani No. 127, Gorontalo. Phone. (0435) 828666 Facs. (0435) 830056
KALIMANTAN TENGAH KC PALANGKARAYA Jl. Ahmad Yani No. 46, Palangkaraya, Kalimantan Tengah. Phone. (0536) 3222223 Facs. (0536) 3227000
KC SORONG Jl. Ahmad Yani No. 21, Sorong, Papua Barat. Phone. (0951) 323366 Facs. (0951) 323360
PT Bank Syariah Mandiri Financial Statements with Independent Auditors’ Report Year Ended December 31, 2010 with Comparative Figures for December 31, 2009.
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Cross Reference to Annual Report Award Creteria 2010
Cross Reference to Annual Report Award Creteria 2010 PT Bank Syariah Mandiri Creteria
Explanation
Page
I. General 1. Annual Report is presented in good and correct
Indonesian and it is recommended to present the report
also in English.
2 Printed on light-colored paper so that the text is clear and
easy to read.
3 Should state clearly the identity of the company.
Name of company and year of the annual report is placed on: 1. The front cover, 2. Sides, 3. Back, 4. Each page.
4 The Annual Report is presented in the company’s website. II. Summary of Vital Financial Data 1. Financial information in comparative form over a period
4-7 The information contained includes:
of 5 financial years or since the commencement of
1. Sales/income from business.
business if the company has been running its business
2. Gross profit (loss).
activities for less than 5 years.
3. Business profit (loss).
4-7
4. Net profit (loss). 5. Net profit (loss) per share. 2. Financial information in comparative form over a period
1. Net working capital.
of 5 financial years or since the commencement of
2. Total investment.
business if the company has been running its business
3. Total assets.
activities for less than 5 years.
4. Total liabilities.
4-7
5. Total equity. 3. Financial in comparative form over a period of 5
Financial ratio which are common and relevant to the company’s industry.
4-7
financial years or since the commencement of business if the company has been running its business activities for less than 5 years. 4. The Annual Report must contain information of price of shares in the form of tabel and graphs.
Information in the form of table and graphs contain:
4
1. Highest price of shares 2. Lowest price of shares
Information regarding the price of shares prior to the last revision in capital should be adjusted in the event,
3. Closing price of shares 4. the number of shares placed on the market (listed)
among others, that it was due to a splitting of shares, dividend on shares, and bonus shares. 5. The Annual Report must contain information in the
For each three-month period in the last two (2) financial years (if any). The information contain:
last 2 (two) financial years regarding Bonds, sukuk or
1. The number of bonds/sukuk/ utstanding convertible bonds
convertible bonds issued.
2. The interest rate/exchange
5
3. Date of maturity 4. The ratings of Bonds/Sukuk III. Board of Commissioners’ and Board of
8-21
Directors’ Report 1. Board of Commissioners’ Report.
Contains the following items:
8-13
1. Assessment on the performance of the Board of Directors in managing the company. 2. View on the prospects of the company’s business as established by the Board of
Directors.
3. Committees under the Board of Commissioners. 4. Changes in the composition of the Board of Commissioners (if any). 2. Board of Directors’ Report.
Contains the following items:
16-21
1. The company’s performance, encompassing among others strategic policies, comparison
between achievement of results and targets, and challenges faced by the company.
2. Business prospects. 3. Implementation of Good Corporate Governance by the company. 4. Changes in the composition of the Board of Directors (if any). 3. Signature of members of the Board of Directors and Board of Commissioners.
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PT Bank Syariah Mandiri Annual Report 2010
Contains the following items: 1. Signatures are set on a separate page.
3
2. Statement that the Board of Directors and the Board of Commissioners are fully
responsible for the accuracy of the annual report.
3. Signed by all members of the Board of Commissioners and Board of Directors, stating
their names and titles/positions.
4. A written explanation in a separate letter from each member of the Board of
Commissioners or Board of Directors who refuses to sign the annual report, or: written
explanation in a separate letter from the other members in the event that there is no
written explanation provided by the said member. 22-57
IV. Company Profile 1. Name and address of the company.
Includes information on name and address, zip code, telephone and/or facsimile, email,
23
website. 2. Brief history of the company.
Includes among others: date/year of establishment, name and change in the company
24-25
name,( if any). 3. Line of business.
Includes the types of products and or services produced.
31
4. Organizational structure.
In the form of a chart, giving the names and titles.
34
5. Company vision and mission.
Includes the company vision and mission.
36 40-43
6. Identity and brief curriculum vitae of the members of the Board of Commissioners. 7. Identity and brief curriculum vitae of the members of the Board of Directors.
The information should contain:
46-49
1. Name. 2. Title. 3. Age. 4. Education. 5. Working experience.
8. Number of employees (comparative in two years)
The information should contain:
and description of competence building (for example:
1. The number of employees for each level of the organization.
education and training of employees).
2. The number of employees for each level of education.
134-137
3. Training of employees that has been conducted reflects the availability of equal
opportunity to all employees.
4. Expenses incurred. 9. Composition of shareholders.
Should include:
50
1. Names of shareholders having 5% or more shares. 2. Directors and Commissioners who own shares. 3. Public shareholders having respective share ownership of less than 5%. 10. List of subsidiaries and/or affiliated companies.
The information contains, among others:
51
1. Name of subsidiaries/affiliated companies. 2. Percentage of share ownership. 3. Information on the field of business of the subsidiary or affiliated ompany. 4. Explanation regarding the operational status of the subsidiary or affiliated company 11. Chronology of shares listing.
(already operating or not yet operating).
Includes among others:
51
1. Chronology of shares listing. 2. Types of corporate action that caused changes in the number of shares. 3. Changes in the number of shares from the beginning of listing up to the end Name of
Stock Exchange where the company’s other securities are listed of the financial year.
4. Name of Stock Exchange where the company shares are listed. 12. Chronology of other securities listing.
Includes among others:
51
1. Chronology of other securities listing. 2. Types of corporate action that caused changes in the number of securities. 3. Changes in the number of securities from the initial listing up to the end of the financial year. 4. Rating of the securities. 13. Name and address of institution and or profession supporting the capital market.
The information contains, among others:
52
1. Name and address of BAE. 2. Name and address of the Public Accountants’ Office. 3. Name and address of the securities rating company.
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14. Company accountant.
The information should contain:
52
1. The number of Accountant periods has audited the financial statements of the company. 2. How many audit periods has the public accountant firm audited the financial statements of the company. 3. The amount of audit fee. 4. Other service provided by the accountant in addition to financial audit. 15. Reward and certification received by the company, both on a national scale and international scale.
Information should include:
32-33
1. Name of the reward and or certificate 2. Year of receiving the award. 3. Institution presenting the award and or certificate.
4. Period of validity (for the certification) 148-160
16. Name and address of subsidiary and or branch office or representative office (if any).
58-57
V. Management Analysis and Description on
Company Performance.
1. Operational review per business segment.
Contains description of:
60-74
1. Production/business activity 2. Sales/income from business. 3. Profitability. 4. Increase/decrease in production capacity; in each business segment. 2. Description of company’s financial performance.
An analysis of the financial performance which includes a comparison between the financial
75-81
performance of the current year and that of the previous year (in the form of narration and tables), among others concerning: 1. Current assets, non-current assets, and amount of assets. 2.. Current liabilities, non current liabilities, and amount of liabilities. 3. Sales/income from business. 4. Overhead cost. 5. Net profit/loss. 3. Discussion and analysis on the capacity to pay debts and the company’s collectable accounts receivable.
Explanation on:
81
1. Capacity to pay debts. 2. Collectable accounts receivable.
4. Discussion on capital structure, capital structure policies, and solvability.
Explanation on:
81
1. Capital structure. 2. Capital structure policies. 3. Solvability.
5. Discussion on material ties for the investment of capital goods.
Explanation on:
81-82
1. The purpose of such ties. 2. Source of funds expected to fulfill the said ties. 3. Currency of denomination. 4. Steps taken by the company to protect the position of related foreign currency against
risks. Note: if the company has no ties related to capital goods investment, in order to be disclosed.
6. Discussion and analysis of financial information that was reported concerning extraordinary and rare events.
Explanation on:
83
1. Extraordinary events and rare events 2. Impact on the company’s financial condition Note: If there is no extraordinary events and rare events, in order to be disclosed.
7. Information regarding substantial components of
Explanation on:
earnings and other costs, in order to calculate the
1. Substantial components of other earnings
company’s income.
2. Substantial components of other costs
8. If the financial statement discloses a material increase
Explanation on:
or decrease in the sales or net income, then an
1. Size of the increase decrease in sales or net revenues
explanation should be included concerning the extent
2. The increase/decrease in material from the sales or net revenues related to the amount of
that such changes can be linked to, among others, the
amount of goods or services sold, and or the existence
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goods or services sold, and or a new product or service
83
83
of new products or services. 9. Discussion on the impact of price change to the
Is this disclosed or not.
83
Description of important events after the date of the accountant’s report including their impact
83
company’s sales and net income and the operational profit of the company for the past 2 (two) years or since the company commenced its business, if the company has been operating for less than 2 (two) years. 10. Material Information and acts that occurred after the date of the accountant’s report.
on performance and business risks in the future. Note: if there is no important events after the date of the accountant’s report, in order to be disclosed.
11. Description of the company’s business prospects.
Information on the company prospects in connection with industry, economy in general, and
83-84
the international market, which can be accompanied with supporting quantitative data if there is a reliable data source. 12. Information on marketing aspects.
Information regarding the marketing of the company’s products and services, among others
84-85
concerning the market segment. 13. Statement regarding the dividend policy and the date
Contains information on:
and amount of cash dividend per share and amount of
1. Amount of dividend.
dividend per year as announced or paid during the past
2. Amount of dividend per share
2 (two) years.
3. Pay-out ratio.
85
for each year
Note: If there is no dividend, in order to be disclosed the reason why not to be distributed 14. Realization of uses of funds obtained from the public
Contains information on:
offering (in terms of the company is still obligated to
1. Total fundraising
report the realization of the use of funds).
2. Plan of uses of funds
85
3. Details of the uses of funds 4. Balance of funds, and 5. Date of GSM approval for the change of useS of funds (if any) 15. Material information, among others concerning
Contains information on:
investment, expansion, divestment, acquisition, debt/
1. Purpose of the transaction
capital restructuring.
2. Transaction value or the number that is restructured
85
3. Source of funds. Note: if no transaction, in order to be disclosed 16. Transactions containing conflict of interest, and the nature of transactions with affiliated parties.
Contains information on:
85-86
1. Name of the transacting parties; 2. The nature of affiliation; 3. Explanation regarding the fairness of the transaction; 4. Realization of transactions in the current period. Note: if no transaction, in order to be disclosed
17. Description on changes in laws and regulations having significant effects on the company.
Information containing among others:
86
Amendment to regulations and laws and impacts to the company. Note: if there is no amendment which has a significant effect, to be disclosed
18. Description of changes in the accounting policy.
Description should contain among others: any revision to accounting policies, rationale and
86-87
impact on the financial statement. 19 Disclosure of information regarding company preparation
87
in order to convergence of PSAK to IFRS. VI. Corporate Governance 1. Information on the Board of Commissioners.
88-133 The information should contain:
93-96
1. Description of the tasks implemented by the Board of Commissioners. 2. Disclosing the procedure for determining of remuneration 3. Amount of remuneration for the members of the Board of Commissioners. 4. Frequency of meetings. 5. Attendance of the Board of Commissioners in the meetings. 2. Information on the Board of Directors.
The information should include:
96-99
1. Scope of work and responsibility of each member of the Board of Directors. 2. Disclosing the procedure for determining of remuneration. 3. Amount of remuneration for the members of the Board of Directors. 4. Frequency of meetings. PT Bank Syariah Mandiri Annual Report 2010
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5. Attendance of the Board of Directors in the meetings. 6. Training programs for improving the competence of the Board of Directors. 3. Audit Committee.
Includes among others:
99-101
1. Name, title, and brief curriculum vitae of the members of the Audit Committee. 2. Description of tasks and responsibilities. 3. Frequency of meetings and the attendance of the Audit Committee. 4. Brief report on the activities carried out by the Audit Committee. 5. Independence of the members of the Audit Committee. 4. Nomination Committee.
Includes among others:
101-102
1. Name, title, and brief curriculum vitae of the members of the Nomination Committee. 2. Independence of the members of the Nomination Committee. 3. Description of the tasks and responsibilities. 4. Activities carried out by the Nomination Committee. 5. Frequency of meetings and the attendance of the Nomination and Remuneration 5. Remuneration Committee.
Committee.
Includes among others:
101-102
1. Name, title, and brief curriculum vitae of the members of Remuneration Committee. 2. Independence of the members of Remuneration Committee. 3. Description of the tasks and responsibilities. 4. Activities carried out by the Remuneration Committee. 5. Frequency of meetings and the attendance of the Remuneration Committee. 6. Other committees under Board of Commisioners in the company.
Includes among others:
103-104
1. Name, title, and brief curriculum vitae of the members of the committees. 2. Independence of the members of the committees. 3. Description of the tasks and responsibilities. 4. Activities carried out by the committees. 5. Frequency of meetings and the attendance of the committees.
7. Description of the remuneration determination policy for Directors related to company performance.
Includes among others:
95, 99
1. Remuneration determination procedures contained in SOP 2. Performance indicators to measure the performance associated with the remuneration of
8. Description of tasks and function of the Corporate Secretary.
Directors
Includes among others:
111-114
1. Name and brief history of the position of Corporate Secretary. 2. Description of the tasks performed by the Corporate Secretary.
9. Description of the company’s Internal Audit Unit.
Includes among others:
114-122
1. Name of the Head of the Internal Audit 2. Qualification/certification as a profession of internal audit 3. Structure or position of the internal audit unit 4. The existence of an internal audit unit charter 5. Description of duties 10. Description of the company’s risk management.
Includes among others:
124-128
1. Explanation of the risks faced by the company (for example: risks caused by fluctuation
of the exchange rate or interest rate, competition in business, supply of raw materials,
provisions set by other countries or international regulations, and government policies).
2. Efforts to manage those risks. 11. Description of the activities and expenses incurred in
Information includes among others:
related to corporate social responsibility, particularly on
1. The existence of the Consumer Complaint Center
commitment to consumer protection.
2. Description of follow-up on complaints
139
3. Completion rate of complaints received 4. Programs to improve service to consumers 12. Description on the activities and expenses incurred
Information includes among others:
related to corporate social responsibility, particularly on
1. Supervised Business Partner.
“community development program” which have been
2. Education development program/ Health improvement/Culture development.
carried out.
3. Expenses incurred.
13. Description on the activities and expenses incurred
Information includes among others:
related to corporate social responsibility, particularly on
1. Preserving environment activity.
environmental activities.
2. Environment management activity.
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138-147
140
3. Certification to Environment management. 4. Expenses incurred. 14. Important cases faced by the Company, current members of the Board of Directors and Board of Commissioners.
Information includes:
107
1. Material of the case/claim. 2. Status of settlement of case/claim. 3. Potential impacts on the financial condition of the company. Note: in the absence of litigants, to be disclosed
15. Access to corporate information and data.
Description on the availability of access to corporate information and data to the public, for
108-109
example through website, mass media, mailing list, bulletin etc. 16. Corporate Ethics
Contains information on:
109-110
1. The existence of the Code of Conduct. 2. Content of the Code of Conduct. 3. Distribution of the Code of Conduct to the employees and efforts to uphold the Code. 4. Statement concerning the corporate culture. 17. Disclosure of the whistleblowing system.
Description contains:
110-111
1. The existence of whistleblowing systems 2. Mechanism of whistleblowing systems 3. The use of whistleblowing systems and output. VII. Financial Information 1. Statement by the Board of Directors concerning the Responsibility of the Board of Directors on the Financial
161-256 Pursuant to BAPEPAM Regulation No. VIII.G.11 on Responsibility of The Board of Director on
163
Financial Statement
Statement. 2. Auditor Independen’s opinion on the financial statement. 3. Description of the Independent Auditor in the Opinion.
165 The description contains:
165
1. Name and signature. 2. Date of the audit report. 3. KAP license number and license number of Public Accountants 4. Comprehensive financial statement.
Contains all elements of the financial statement:
166-257
1. Balance sheet. 2. Profit loss statement. 3. Equity statement. 4. Cash flow report. 5. Notes to the financial statement. 5. Comparison of profitability
Comparison of profit/loss of current year with previous year
6. Presentation of Cash Flow Report.
Meets the following provisions:
254 174-175
1. Grouped into three categories of activity: operational activity, investment, and funding. 2. Uses a direct method to report cash flow of operational activities. 3. Disclosing activities that do not influence the cash flow. 4. Separating the presentation between cash receipt and or cash expended to the customer,
employee, supplier, and payment of taxes during the current year for operational activities.
5. Presenting the addition and payment of long-term debt as well as dividend in funding. 7. Summary of Accounting Policy.
Includes at least:
184-197
1. Basic concept in presenting a financial statement. 2. Recognition of income and overhead. 3. Assessment for investment (investments in other entities). 4. Stock 5. Lease 8. Disclosures relating to investment property
Matters which should be disclosed:
203-205
1. Description of the selected accounting policies between the fair value model and cost model 2. The methods and significant assumptions applied in determining the fair value of
investment properties
3. Is the determination of the fair value of investment property in accordance with
assessments by
an independent assessor. If no such assessment, it should be disclosed
4. Reconciliation carrying value of investment property at the beginning and end of period. 5. The amounts recognized in profit or loss from investment property (rental income, direct PT Bank Syariah Mandiri Annual Report 2010
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operating expenses, the cumulative change in fair value) 9. Disclosure related to taxation.
Matters which must be disclosed other than type and total of tax obligation.
225-227
1. Reconciliation between tax charge (income) and the result of multiplying the accounting
profit with the current rate and disclosing the basis for calculating the tax rate.
2. Fiscal reconciliation and calculation of current tax. 3. Statement that the amount of Taxable Profit as calculated through reconciliation becomes
the basis for charging the Annual Corporate Tax.
4. Details of the assets and liabilities in deferred tax presented in the balance sheet in each
period of presentation, and amount of charge (income) of deferred tax acknowledged
in the profit loss statement if the said amount is not evident in the asset or liability of
deferred tax acknowledged in the balance sheet.
5. Disclosure of whether or not there is a tax dispute. 10. Disclosures related to Fixed Assets
Matters that must be disclosed:
192
1. Depreciation method used 2. Description of the selected accounting policies between the revaluation model and cost model 3. The methods and significant assumptions used in estimating the fair value of fixed assets
(revaluation model) or disclosure of the fair value of fixed assets (cost model)
4. The gross carrying amount and accumulated depreciation at the beginning and end of the
period for each group of fixed assets
5. Reconciliation carrying amount at the beginning and end of the period for each group
11. Recent Development of Financial Accounting Standards and Other Regulations
of assets, which shows the addition, the assets classified as available for sale / loose
groups, business combinations, revaluations, impairment loss, depreciation, net exchange
difference, or other changes.
Matters that should be disclosed:
256-257
1. Explanation of financial accounting standards and new regulations are implemented and
affect the activity of the company; and
2. The impact of the application of financial accounting standards and new regulations. 12. Disclosures related to Financial Instruments
Matters that should be disclosed: 1. Terms, conditions and accounting policy for each group of financial instruments. 2. Classification of financial instruments 3. Fair value of each group of financial instruments 4. Explanation of the risks related to financial instruments: market risk, credit risk and liquidity
risk
5. Objectives and financial risk management policy.
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248-253
