BigBussiness – The Public Housing Savings Management Agency (BP Tapera) appointed PT Bank Rakyat Indonesia (Persero) Tbk to become the custodian bank in the Public Housing Savings (Tapera) program.
Custodian bank or abbreviated custodian bank is an institution that is responsible for securing the financial assets of a company or individual.
Tjondro Prabowo, Executive Vice President for Investment Services for Bank BRI, said that the company, as a custodian bank, has two mandates, namely the management of Tapera funds and BP Tapera assets.
Tjondro continued to manage Tapera funds, BRI Bank has 3 obligations, the first is to register the amount of Tapera fund deposits and their fertilization.
In his management, Tjondro explained that BRI Bank has three obligations or tasks that must be performed.
First, Bank BRI is obliged to register the amount of the Tapera Fund’s deposits from the participants and their fertilization. Second, calculation of Net asset value (NAV) for Tapera funds on each trading day.
Finally, BRI Bank is required to submit an annual audited financial report for Tapera funds.
“To support the Tapera program, we are preparing a special unit, in addition to the existing storage team,” Tjondro said in a virtual discussion on InfobankTalknews, Friday (28/8/2020).
In the event that BRI Bank also delivers infrastructure and business processes so that the management of Tapera funds can work well.
“We are also preparing adequate infrastructure and business processes, as well as competent people to handle them. Everything will certainly work well with the cooperation of each party,” said Tjondro.