Annual Report
PT Bank Syariah Mandiri
better ways
for better Indonesia
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
1
BSM
Fact Year
2011
Alhamdulillah, Praise be to God, BSM
has booked asset growth by 49.84% or
Rp16.19 trillion, from Rp32.48 trillion in
2010 to Rp48.67 trilllion in 2011.
Third Party Fund increased by 46.97%
or Rp13.62 trillion, from Rp29 trillion in
2010 to 42.62 trillion in 2011.
Fund Channeling increased by 53.23%
or Rp12.76 trillion, from Rp23.97 trillion
in 2010 to 36.73 trillion in 2011.
Net profit increased by 31.67% or
Rp132.55 billion, from Rp418.52 billion
in 2010 to Rp551.07 billion in 2011.
GCG self-assessment implementation
report to Bank Indonesia scored 1.73 or
“good” qualification.
BSM won 29 Awards in various
categories from both national
and international institutions. This
achievement shows a high level
people’s trust and appreciation towards
BSM.
Assets
49.84%
Rp48.67
53.23%
Rp36.73
46.97%
Rp42.62
31.67%
Rp551.07
trillion
Financing
Third Party
Fund
trillion
trillion
Net Profit
2
billion
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM Performance keeps on growing
and getting better from year to year. This
condition shows that BSM is gaining
more from people’s confidence.
In Trillion (IDR) Assets
In Trillion (IDR) Financing
60
40
48.67
50
40
30
36.73
30
23.97
32.48
20
22.04
20
16.6
10
10
-
2009
2010
2011
In Trillion (IDR) Third Party Fund
42.62
40
20
600
500
300
19.34
100
-
-
www.syariahmandiri.co.id
418.52
290.94
200
10
Annual Report 2011 PT Bank Syariah Mandiri
2011
551.07
400
29.00
2009
2010
In Billion (IDR) Net Profit
50
30
2009
2010
2011
2009
2010
2011
3
table of
content
2
Title
Page
30
Company
Identity
75
Analysis and
Elaboration on
Company Performance by the
Management
115
Good
Corporate
Governance
Report
4
2
4
6
8
9
10
14
20
22
BSM Fact Year 2011
Table of Contents
Sustainable Theme - BSM Annual Report
Better Ways for Better Indonesia
Statement Letter on Responsibility for Contents
Financial Highlights
Board of Commissioners Report
Sharia Supervisory Board Report
Board of Directors Report
32
33
34
36
38
42
44
46
48
54
58
60
64
66
67
67
68
70
72
A. B. C. D. E. F. G
H. I. J. K. L. M. N. O. P. Q. R. S. Company Indentity
Organization Structure
Brief History
Corporate Events
List of Awards and Rating
Vision and Mission
Company’s Value
Target and Strategy
Business Sectors
Board of Commissioners Profile
Sharia Supervisory Board Profile
Board of Directors Profile
Shareholders Information
Subsidiary and Affiliate Company Profile
Share Listing Chronology
Chronology Other Stock Listing
Professional Institutions supporting Company
Executive Profile
Testimony
76
80
98
106
106
107
108
108
108
108
108
108
108
109
110
111
112
112
112
112
113
A. B. C. D. E. F. G. H. I. J. K. L. M. N. O. P. Q. R. S. T. U. Review on Banking Business
Operation Review by Business Segment
Review on Company Financial Performance
Provision for Earning Asset Loss (PPAP) and Bank Collectibility
Capital Structure
Bank Financial Soundness And Solvability
Material Bond for Capital Goods Investment
Profit Sharing Method
Extra Ordinary Financial Report
Substantial Component and other Income/Expenses
Materiality of business Income Increase
Impacts of Price Change on Business Income, Net Profit and Operating Profit for the last two years.
Information occurred after balance date
Company’s Business Prospect
Marketing Aspect
Dividen Policy
Realization and Use of Public Offering Proceeds.
Material Information on Expansion, Divestment, Acquisition, and Restructuring.
Material Information Containing Conflict of Interest
Influence of Law and Regulations on the Company
Change in Accounting Policy
116
117
119
119
119
121
122
133
140
142
156
159
160
161
162
162
162
A. B. C. D. E. F. G.
H.
I. J. I. Introduction
Self Assessment GCG year 2011
Policy Instrument and GCG Manual
GCG Mechanism
GCG Structure
I. Shareholders General Meeting (RUPS)
II. Board of Commissioners
III. Board of Directors
IV. Sharia Supervisory Board
V . Committees
VI. Corporate Secretary
Assessment of Board of Commissioners and/or Board of Directors Performance
Remuneration Policy of Board of Directors
Information Access
Disclosure of Share ownerships and Family Relationships between BoC and BoD
Shares Buy Back dan Bond Buy Back
Partnerships
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
177
Risk Management
Report
185
Corporate Social
Responsibility Report
195
­Human
Capital
Report
207
Compliance
Report
217
Procedure and
Information Technology
System Report
227
Internal Control
Report
162
162
163
163
164
165
165
170
173
174
175
L. M. N. O. P. Q. R. S. T. U. V. Legal Case in 2011
Change in Important Strategic
Important Thing Predicted to Occur and Business Prospect in 2012
Transaction Containing Conflict of Interest.
Conflict of Interest
Non-Halal Income and Usage
GCG Development
Code of Conduct (COC)
Company’s Value
Whistle Blowing System
Bad Corporate Governance Practice
178
178
179
179
180
182
183
A. B. C. D. E. F. G. The Benefit of Risk Management Implementation
Risk Management Organization
Risk Management Frame Work
Risk Management Certification
Risk Management Implementation
Risk Profile
Risk Management Development Plan
186
187
189
193
A. B. C. D.
Bank Commitment to Customer Protection
CSR Activity
CSR Policy of Social Community and Environment
Manpower, Health and safety Policy
196
197
198
198
199
199
199
200
200
200
204
205
A. B. C. D. E. F. G. H. I. J. K. L. Number of Employee
Recruitment
Organization and Position
Remuneration System
Reward and Punishment Policy
Competency
Employee Performance Evaluation
Fairness and Equality Treatment
Employee Development
Education and Training
e-learning
Knowledge Management Implementation
208
209
209
210
210
212
212
213
A. B. C. D. E. F. G. H. BSM Compliance Implementation in 2011
Compliance Index
Compliance Supervision I
Compliance Supervision II
Compliance System
Monitoring and Supporting
Compliance Assessment
Anti-Money Laundering Work Unit and Terrorism Funding Prevention
218
220
221
223
A. B. C. D. System and Procedure
Project on Completion of Bank Operational Provisions with Flowchart
Financial Performance and Supervision
Information System and Technology
228
228
228
228
229
230
231
233
233
234
234
A. B. C. D. E. F. G.
H. I. J. K. Internal Audit Charter
Purpose and Function of Internal Audit Division
Vision and Mission of Internal Audit Division
Duties and Responsibilities of Internal Audit Division
Organizational Structure of Internal Audit Division 2011
Internal Audit Division Activities
Certification of Profession and Auditor Resource Development
Internal Control System
Monitoring Activity and Corrective Action on Fraud
Number of Internal Fraud
Brief History of Head of Internal Audit Division
237
252
253
Annual Report 2011 PT Bank Syariah Mandiri
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Office Network
Statement Letter of Board of Directors on Responsibility for Financial Statement
Financial Statement
5
6
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Sustainable theme
bsm annual report
for better Indonesia
For better Indonesia is the embodiment of
nationalism spirit of all BSM employees. BSM
sees that all achievements and performances
are part of collective efforts to enhance
Indonesian welfare.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
7
theme
better ways
for better
Indonesia
better ways
BSM plans many ways that will be built better than the ones that have
been done. There are ways that relate with paradigm, philosophy,
business strategy; business operations, organization structure, and
employee management. These are what BSM calls better ways.
for better Indonesia
BSM develops various kinds of spirit, such as spirit for
entrepreneurship, ETHIC spirit, universal sharia spirit, and dakwah
spirit. BSM intends to build better Indonesia that is ready to be the
leader of spiritual age in the future.
1
8
2
3
2009
2010
2011
cares
for better Indonesia
better legacy
for better Indonesia
better ways
for better Indonesia
BSM continues rendering
contribution to the enhancement
of Indonesian people’s welfare.
This is reflected in the focus
of BSM fund extension that is
not only for the big corporate
sector, but in fact the majority of
financing is extended to micro,
small and middle businesses.
Better Legacy represents BSM’s
commitment to good inheritance
for the future generation in BSM.
This commitment is implemented
in work principles for best
performance, prudence, and
obedience of BSM employees
on duty.
BSM plans many ways that will
be built better than the ones
that have been done. There are
ways that relate with paradigm,
philosophy, business strategy;
business operations, organization
structure, and employee
management.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Statement Letter on
Responsibility for Contents Accuracy of this Annual Report
PT Bank Syariah Mandiri 2011
The Management assumes responsibility for this Annual Report, along with Good Corporate Governance Report,Financial Reports
and other related information as approved by the Board of Commissioners and Board of Directors with the signature as follows:
Board of Commissioners
Achmad Marzuki
President Commissioner/ Independent Commissioner
Abdillah
Independent Commissioner
Ramzi A. Zuhdi
Independent Commissioner
Tardi
Commissioner
Lilis Kurniasih
Commissioner
Board of Diorectors
Yuslam Fauzi
President Director
Hanawijaya
Director
Amran Nasution
Director
Sugiharto
Director
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Zainal Fanani
Director
Achmad Syamsudin
Director
9
financial
highlights
financial
highlights
Explanation
A. Balance
1. Asset
2. Earning Assets
3. Placement of SBIS/SWBI
4. Extended Financing
5. Liabilities
6. Temporary Syirkah Fund
7. Securities Issued
8. Third Party Fund
a. Demand Deposit b. Saving
c. Time Deposit
9. Equity
B. Profit and Loss
Revenue From Fund Management As Mudharib
Third Party On Return Of Temporary Syirkah Funds
Revenue From Fund Management As Mudharib - Net
Fee Based Income
Operating Profit
Profit Before Tax
Net Profit Current Period
Basic Earning Per Share
C. Ratio - Ratio Capital Adequacy Ratio (CAR)
Return On Asset (ROA)
Return On Equity (ROE)
Financing to Deposit Ratio (FDR)
Net Non Performing Financing to Total Financing (NPF NET)
Non Performing Finance to Total Cost (NPF GROSS)
Net Profit Sharing Income to Productive Assets (NIM)
Current Asset to Current Liabilities
Debt to Equito Ratio (DER)
Debt to Asset Ratio (DAR)
Office Network Employee
ATM Network (BSM, Bank Mandiri, ATM Bersama, ATM Prima, MEPS)
Notes:
1. No information on the highest, lowest, closed share price and share
volume is available as BSM was not involved in the Indonesia Stock
Exchange trade activities by the year-end of 2011.
10
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
In Million (IDR)
20022003200420052006200720082009
2010
2011
1,622 3,422 6,870 8,273 9,555 12,885 17,066 22,037 32,482 48,672
1,496 3,155 6,404 7,971 8,913 12,269 16,399 21,319 30,744 44,947
269 795 325 1,373 780 670 1,305 2,381 3,412 4,850
1,141 2,171 5,296 5,848 7,415 10,326 13,278 16,063 23,968 36,727
205 575 1,420 1,700 2,658 2,647 2,343 3,273 5,010 7,041
979 2,398 4,901 5,940 6,200 9,427 13,315 16,963 25,251 37,858
200 200 200 200 400 200 200 200 700
1,117 2,629 5,725 7,037 8,220 11,106 14,898 19,338 28,998 42,618
147 298 981 1,261 2,054 1,846 1,812 2,591 4,015 4,669
336 753 1,536 1,958 2,668 3,872 5,284 7,163 9,873 14,424
634 1,578 3,208 3,818 3,498 5,388 7,802 9,584 15,110 23,525
438 450 549 633 697 811 1,208 1,600 2,021 3,073
- 163 279 584 865 934 1,197 1,736 71 148 269 386 455 512 92 131 315 479 479 685 3,771
2,071 2,768 768 902 1,162 1,781
968 1,169 1,606 1,990
35 52 102 94 145 210 301 347 567 1,082
242 23 141 137 101 167 283 426 580 761
243 25 150 137 95 168 284 418 569 748
130 16 103 84 65 115 196 291 419 551
421 221 1,443 1,169 914 1,611 1,759 2,210 3,179 2,379
39.29%20.87%10.57%11.88%12.56%12.43%12.66%
12.39%10.60%
14.57%
3.58%1.04%2.86%1.83%1.10%1.53%1.83%
2.23%2.21%
1.95%
7.40%
3.61%
22.28%
23.39%
18.27%
32.22%
46.21%
44.20%
63.58%
64.84%
74.55%
82.57%
92.50%
83.09%
90.21%
92.96%
89.12%
83.07%
82.54%
86.03%
1.10%
2.32%
1.97%
2.68%
4.64%
3.39%
2.37%
1.34%
1.29%
0.95%
3.45%
2.89%
2.42%
3.50%
6.94%
5.64%
5.66%
4.84%
3.52%
2.42%
8.22%
7.12%
6.91%
6.83%
5.63%
6.31%
6.73%
6.62%
6.57%
7.48%
318.85%
427.24%
162.26%
207.16%
118.60%
171.09%
225.37%
209.34%
202.90%
262.62%
47.23%
127.79%
258.78%
268.79%
381.16%
326.19%
193.87%
204.53%
247.94%
229.11%
12.66%
16.79%
20.67%
20.55%
27.81%
20.54%
13.73%
14.85%
15.42%
14.47%
44 88 134 164 212 270 313 390 507 669
959 1,377 1,913 2,127 2,032 3,003 3,493 4,544 7,902 11,788
1,300 2,133 7,733 13,709 13,291 22,187 27,199 34,924 47,000 65,118
2. No information on amount of bonds/sukuk/convertible bonds is
available as BSM has not issued any bond, sukuk or convertible bond by
the year-end of 2011.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
11
financial
summary
60.00
Amount of Asset
In Trillion (IDR)
48.67
50.00
3,500
In Billion (IDR)
20.00
1.62 3.42
9.56
6.87 8.27
12.89
17.07
35.00
22.04
1,000
-
Amount of Financing
In Trillion (IDR)
36.73
23.97
25.00
5.00
-
7.42
5.30 5.85
1.14
10.24
2,500
-
42.62
29.00
8.22
5.73 7.04
1.12
11.11
14.90
19.34
2.63
2002200320042005200620072008200920102011
12
1,990
1,606
685
500
2.17
Third Party Fund
In Trillion (IDR)
1,197
Revenue From Fund Management
As Mudharib (Net)
In Billion (IDR)
1,000
13.28
2002200320042005200620072008200920102011
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
5.00
-
584
934
1,500
16.06
10.00
163
279
865
2,071
2002200320042005200620072008200920102011
2,000
30.00
15.00
1,736
1,500
500
20.00
2,768
2,000
2002200320042005200620072008200920102011
40.00
3,771
2,500
32.48
30.00
-
Revenue From Fund Management
As Mudharib
3,000
40.00
10.00
4,000
92
131
315
479
968
1,169
479
200220032004200520062007200820092010 2011
800
Operational Profit
In Billion (IDR)
761
700
580
600
500
426
400
283
300
200
100
-
141
42
137
101
167
23
2002200320042005200620072008200920102011
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
3,500
Amount of Equity
In Billion (IDR)
3,073
3,000
2,500
1,600
1,500
1,000
500
138
450
697
549 633
811
500
419
291
300
1,208
200
2002200320042005200620072008200920102011
669
600
400
300
200
100
-
44
134
88
212
164
270
313
115
Amount of Employee
11,788
12,000
7,902
8,000
390
6,000
4,000
2,000
959 1,377
1,913 2,127 2,032
3,003
3,493
4,554
-
2002200320042005200620072008200920102011
70,000
60,000
50,000
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
-
65
10,000
507
500
84
2002200320042005200620072008200920102011
14,000
700
103
16
-
Amount of Office Network
196
130
100
-
800
551
400
2,021
2,000
Net Profit
In Billion (IDR)
600
Amount of BSM ATM Network
2002200320042005200620072008200920102011
65,118
47,000
22,187
27,199
27,199
34,924
13,709 13,291
1,300 2,133
2002200320042005200620072008200920102011
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
13
board of
commissioners
report
Achmad Marzuki President Commissioner | Independent Commissioner
PT Bank Syariah Mandiri (Bank) in 2011 significantly succeeded
to reach the targets set in Bank Business Plan 2011 both
quantitatively and qualitatively, such as in third party funding,
financing, Earning Assets quality, and net profit performance.
14
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Assalamu’alaikum Wr. Wb.
Dear stakeholders,
In general the Board of Commissioners
found that throughout 2011 the
management performed serious efforts
to achieve the best performance
and to realize the bank business
plan. In general the Bank succeeded
to reach the targets. The Board
of Commissioner also found that
the Bank has implemented Good
Coporate Governance, has adequate
internal control system, effective and
independent Internal Audit Work Unit.
In 2011, referring to the results of
Extraordinary Shareholders General
Meeting (RUPSLB) in June 2011,
Ahmad Marzuki has been reappointed
as President Commissioner /
Independent Commissioner, Abdillah
as Independent Commissioner,
Tardi and Lilis as Commissioners,
while Ramzi A. Zuhdi appointed as
Independent Commissioner based on
the RUPLSB decision dated 29 June
2010, making the total number of Board
of Commissioners members to 5 (five)
personnels.
Corporate Governance
Implementation
The Board of Commissioners
always performs its duties and
responsibilities professionally and
independently in compliance to
good corporate governance. The
Board of Commissioners upholds
the commitment to be proactive in
performing bank supervision duties,
in the process of company strategic
plan formulation, Bank Business plan
implementation and Preparation,
Performance Monitoring, risk
management implementation and Good
Coporate Governance.
Annual Report 2011 PT Bank Syariah Mandiri
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In performing supervision function
and providing advice, the Board of
Commissioners uses various ways
such as by formal and informal
meeting forum, advice or written
recommendation to the Board of
Directors, Director of Division, and work
units. The Board of Commissioners
in perfoming its duties is assisted by
three committees, consisting of Audit
Committee, Risk Monitoring Committee,
and Nomination and Remuneration
Committee. In line with their duties, the
committees interact regularly with the
management and related work units.
The implementation of Supervision
function by the Board of commissioners
is conducted through:the Board of
Directors and Board of Commissioners
Meeting (Radirkom), Board of
Commissioners and Board of Directors
Meeting (Rakomdir)
BoD and BoC Meeting
Bod and BoC meeting is initiated by the
Board of Directors by inviting the Board
of Commissioners to a discussion.
Bank Business Plan (RBB) and
Corporate Plan
The 2012 Bank activity plan describes
facilities and strategies that direct Bank
Operations to reach business targets
in 2012. RBB meeting discussed about
Indonesian Economy projection, RBB
draft 2012 and budget 2012.
The Board of Commissioners approved
the RBB 2012 with a reminder that in
the implementation of activities to reach
business target be based on prudent
principles, selective and risk aspect
considerations.
The discussion on corporate plan
implementation and achievement is
conducted every month and it becomes
Board of Commissioners concern. The
Board of Commissioners has requested
that Coporate Plan Project initiatives be
conducted pursuant to the timeline.
Bank Performance Report
2011
Bank Performance Report discusses
both financial and non financial
achievement. Board of Commissioners
provides opinion, advice and suggestion
on performance report and problem
occurred, including providing advice and
input for the upcoming year of service.
Bank performance report discusses
realization achievement compared
to the target and determinant factors
behind the target achievement.
Financial performance discussion
sheds highlights on asset, earning
asset quality, financing, securities, third
party fund, income and profit sharing
expense, overhead cost, profit, fee
based income, CAR and other financial
ratios.
Target performance and non financial
realization, and determinant factors
behind success or failure of financial
and non-financial target achievement.
Non-financial performance discussion
includes office network, ATM network
and number of employees.
PT Bank Syariah Mandiri (Bank) until
the end of 2011 succeeded to achieve
most of the targets set in Bank Business
Plan 2011. Achievements were realized
for asset growth, third party funding,
fund extension, earning assets quality,
and bank net profit. Below-target
15
board of
commissioner
report
achievements occurred with BOPO
and Cost to Income Ratio that were
still not very efficient. The excess ratio
was triggered by the significant growth
of office network and employement in
2011.
During 2011, in general
Bank received rank 2 for
Bank Health rate. Rank 2
reflected that Bank is good
and management is able to
overcome negative impact
from economy and financial
Industry.
Mostly realized as per target, the
above financial achievement was
also supported by non-financial
business such as the improvement
and completion of internal supervision
and control, risk indicators completion,
customer service improvement,
and human capital competency
improvement.
Bank Financial Soundness
Based on Central Bank Regulation
Number 9/1/PBI/2007 dated January
21, 2007 on Commercial Bank Financial
Soundness Rate Assessment System in
accordance with Sharia Principles, the
Bank performs financial soundness self
assessment. Bank financial soundness
is used for measuring the management
capability in managing Bank in a
certain period under existing economic
condition and financial industry.
Financial soundness self assessment
Self assessment in 2011 is as follows:
The BSM Capital Ratio Adequacy along
the January 2011 – September 2011
period was ranked the 2nd or under the
central bank’s required minimum capital
adequacy rate (KPMM) of 12%. But,
in October and December 2011 the
capital adequacy rate were respectively
12.12% and 14.75% or above KPMM
and was the 1st, accordingly. This ratio
was improved after Bank Mandiri as the
shareholders added paid-in capital of
Rp300 billion and Rp500 billion for new
16
sub-debt from the Bank.
The Asset Quality Ratio of 0.98% in
2011 was ranked the 2nd, indicating
that it is good but with insignificant
weakness. The Policy and procedures,
as well as risk management of financing
performed effectively with due reference
to the bank business scale and support
secure and sound bank operations.
In the 2001 period, Remunerativeness
Ratio was ranked the 2nd except
in February when it was ranked the
1st. Rank 2 qualification shows high
remunerativeness.
In the 2011 period , Liquidity Ratio
shows fluctuative trend between rank
2 to rank 3 except on October and
November when it was ranked the 1st.
In December 2010, Main Liqudity Ratio
was ranked the 2nd, showing the Bank’s
strong performance in anticipation of
the need and risk of liqudity.
In the 2011 period, sensitivity to
market risk was very high at the rank
1. The ratio indicates low risk, high
effectivity anf consistency of market risk
management.
The grade of management components
general management, and compliance
management for the period of 2011 was
A. This showed that Bank management
had satisfying, independent and
solid track record to adapt to external
condition change and to have strong
control risk system.
Attributable mainly to of signigicant
improvement in employment size
and office networks, the grade of
risk management for the 2011 period
was B. The arising risks was well
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
anticipated by strengthening the bank’s
riskl management and internal control
systems.
Throughout 2011, in general Bank’s
financial soundness was ranked the
2nd. Indicating that the BSM is a good
bank with its reliable management
to overcome negative impacts from
economic and financial industry
conditions.
Bank Risk Profile Development
Risk profile describes risk rates inherent
in bank’s activities and adequacy of risk
control system. The. December 2011
Risk Profile position shows that Bank
composite risk qualification was low to
moderate with a trend toward stability..
The 2011 BSM risk measurement
concludes with low risk qualification
in market risk and compliance risk,
because Bank did not have high
exposure of asset and liabilities
containing market risk, and Bank always
concerns to comply with the prevailing
regulations. Meanwhile, credit risl and
liquidity risk shows low to moderate risk
qualification, reflecting Bank’s good risk
management of credit and liquidity.
Operation Risk Management reached
moderate qualification. In term of
Legal Risk, the January 2011 - April
2011 period show low qualification
than turned to be moderate in the
May 2011 - December 2011 period.
Reputation risk reached low to moderate
qualification for the January 2011 November 2011 period, that improved
to low qualification in December 2011.
Strategic Risk for the January 2011 October 2011 period was low and but
in the Novemebr - December 2011
changed to moderate.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Internal Audit Implementation
Report
Internal audit is conducted by the
internal audit work unit. The target of
audit, is to detect frauds. The Board of
Commisioners through Audit Committee
quarterly reviews the quality of the audit
reports.
BoC and BoD Meeting
In 2011, a special agenda on bank
business management set by Board of
Commissioners and Board of Directors
includes:
Operational Risk
Technology System Infrastructure
Infrastrucrure (Core Banking System).
The Board of Commissioners fully
supports the development of new Core
Banking System (CBS) by monitoring
each process routinely. The Board of
Commissioners requires the Board of
Directors to ensure all potencies and
resources be focused on new CBS
implementation and optimizing of CBS
by activating available features.
Risk Profile position in
December 2011` showed
Bank composite risk
qualification in general was
low to moderate with stable
trend.
Credit Risk
The Board of Commissioners
is concerned with financing to
cooperatives and gold pawn portfolio
that is quite big. The Board of
Commissioners requires management
to strengthen the policy, SOP, internal
control and risk mitigation.
The Board of Commissioner has
required mangement to make crash
program in handling troubled financing
by forming remedial account / financing
recovery.
17
board of
commissioner
report
Generally the rate of
compliance is relatively
good that shows an
upwards trend from
92.88% in December 2010 to
93.07% in December .2011
(High qualification rate of
compliance).
Compliance Performance
Report
Issues Deserving the
Management’s Attention
The Board of Commissioners monitors
compliance performance through
performance reports and the results
of compliance supervision conducted
by the compliance work unit. BoC
monitoring is focused on scores or ratios
of compliance index, implementation of
prudence, Bank Financial Soundness
Rate, and fraud indications. Compliance
index under the BoC’s concern are
the achievement of parameters such
as Corporate Compliance Index
(CCI), Compliance Certificate (CC),
Compliance Self Assessment (CSA),
Zero Defect Index (ZDI), Regulation
Index (RI), Division Compliance
Index (DCI), and GCG Index. In
addition Compliance Certificate that
achieved very high qualification, some
ohers parameters have gained high
qualification, while Branch Compliance
Index (BCI), APU & PPT Index, and
Code of Conduct achieved moderate
qualification, and PKP Performace with
low qualification.
Based on the supervision on
performance, Bank work plan
implementation, and the attempts to
support sustainable growth, the Board of
Commissioners suggested advices on
issues that Bank needs to improve and
enhance bank performance such as:
Generally the rate of compliance is
relatively good that shows an upwards
trend from 92.88% in December 2010
to 93.07% in December .2011 (High
qualification rate of compliance).
Daily Report
The Board of Commissioners monitors
regularly (daily) the balance dan Net
open position rate. Thrughout 2011
there no violation or excess PDN
was found. In addition, the Board of
Commissioners monitors asset and
liability development through the daily
financial report.
18
Bank Capital must support business
expansion plan and the growth
expected. Regardless of safe capital
position (CAR) Bank needs to do the
following efforts: to realize the plan for
increasing shareholders capitalpursuant
to the target time and for extending
fund to productive assets with lower
Risk Weighted Assets (ATMR) rate.
In efforts to improve sustainable
growth of financing and earning asset
quality, Bank needs to continue more
concrete and sustainable steps such
as: to review financing organization,
including strengthening four-eyes
principles in financing decision making,
segregatation of duties, supervision
process and authority delegating;
to arrange crash program to handle
troubled financing by forming remedial
account / financing recovery; to ask
for early warning system (watch list)
by business segment and section to
anticipate decrease in good customer
collectibililty;
Bank should maintain and increase
profitability, by taking the following
steps: embarking on prudent financing;
financing to feasible economic sectors;
avoiding financing in need of special
skills that Bank does not have; ensuring
good repayment by monitoring effective
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
financing; controlling overhead by
maintaining budgeting dicipline and
efficiency for all activities.
To maintain bank risk rate at
consistently low risk with the stable
trend, Bank needs to take thefollowing
steps: improving comprehension
on internal control to all employees;
Increasing prudent financing and
strengthening four-eyes principles,
especially in financing decision making;
strengthening employee competency
and capability; strengthening the
technology infrastructure.
Business Prospects
Moving forward to prospects and
developments, Board of Commissioners
has concluded that the Management
has made necessary adjustments and
paid attention to the future economic
condition, government’s policy, owner
supports, improved and strengthened
the organization, network, human
capital, risk management, and existing
technology.
The spirit of service, and the vision
implemented by all employees
and Board of Directors in the 2011
performance achievement have
altogether brought pride especially to
the Board of Commissioners. We are
well aware that good achievements
in 2011 are earned by hard work
and dedication from all employees
and Board of Directors. For the good
performance, Board of Commissioners
would extend appreciation and thank
to all BSM employees and Board of
Directors, and to all stakeholders for the
support and trust to BSM.
This is the end of Board of
Commissioners report on supervision
program implementation during 2011.
May Allah bestow blessings and
strength on all of us.
Wassalamu’alaikum Wr. Wb.
PT Bank Syariah Mandiri
Board of Commissioners
Achmad Marzuki
President Commissioner/Independent Commissioner
Abdillah
Independent Commissioner
Lilis Kurniasih
Commissioner
Ramzi A. Zuhdi
Independent Commissioner
Tardi
Commissioner
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
19
Board of
Sharia Supervisory
Report
Prof. Dr. Komaruddin Hidayat, MA. Chairman
All guidelines for funding and financing products, and
operational activities of PT Bank Syariah Mandiri (Bank)
have won approval from the Sharia Supervisory Board (DPS)
to ensure conformity with sharia principles.
20
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Assalamu’alaikum Wr. Wb.
Bismillaahirrahmaanirrahiim
BSM operations are supervised by independent DPS (Sharia
Supervisory Board) whose members are appointed by the National
Sharia Council (DSN), a council under the Indonesian Ulemas
Council (MUI). All guidelines for funding and financing products
and operations of PT Bank Syariah Mandiri (Bank) have won
approval from the Sharia Supervisory Board (DPS) to ensure
conformity with sharia principles.
DPS activities during 2011 covered:
1. Providing inputs for assurance of BSM products and
services to be compliant with the DSN fatwa..
2. Providing inputs and opinions on operation guidelines and
product manuals.
3. Submitting sharia supervision reports to Bank Indonesia,
Board of Directors and DSN MUI every semester in 2011,
including:
a. Supervision reports on bank product development process
including product objectives, characteristics, contracts
(akad), conformity with the Fatwa of DSN-MUI, system
review and new product procedures.
b. Supervision on Bank activities includes funding, financing,
and bank services. Forms of supervision consist of report
analysis on audit internal report, establishment and
inspection on number of transaction samples, review on
SOP concerning sharia aspects.
c. DPS general opinion on bank operational per period.
Period I was 1 January 2011 until 30 June 2011 and period
II was 1 July 2011 until 31 December 2011.
d. DPS opinion on funding activities, financing, and bank
services. By providing data in the form of: Circulars,
financing data and DPS opinion on bank new products. In
2011 DPS issued 10 sharia opinion statements.
e. Methodology and technique of sampling for inspection.
In 2011 DPS performed sampling/direct inspection
on 4 BSM branch offices consisting of Bandung Main
Branch, Surabaya Branch, Makassar Branch and Bogor
Branch Office. Sampling was conducted on transaction
documents, funding aspects (provision on saving, demand
deposit, and time deposit), SOP, SP3 clauses (Funding
Confirmation Letter of Approval), including more detailed
clauses, such as the formulation for profit sharing,
regulation on fine ((ta’widh), litigation and non-litigation
process in case of conflicts.
We hope BSM keeps on developing noble spirits of corporate
culture. Besides, cooperation and coordination that has been
established through periodic joint meetings to discuss various
company operation aspects can continuously be developed
complying with Good Corporate Governance (GCG) principles.
We are so grateful and would like to deliver high appreciation
to the management on the BSM achievements including the
wider network expansion and the development of services and
products to meet people’s needs.
We consider it important that the management be committed to
compliance with sharia principles and the prevailing regulations,
for enhancing BSM future growth and development to meet the
stakeholders’ expectations.
Wassalamu’alaikum Wr. Wb.
PT Bank Syariah Mandiri
Board of Sharia Supervisory
Prof. Dr. Komaruddin Hidayat, MA.
Chairman
Drs. H. Mohamad Hidayat, MBA., MH.
Member
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Dr. M. Syafii Antonio, M.Ec
Member
21
board of
directors
report
Yuslam Fauzi President Director
The 2010-2011 period was a year of tight competition along
the history of sharia banking in Indonesia. Amidst such
a competition the Company could still reach good
performance with the growth 49.84% from the asset,
53.23% from the financing, and 46.97% from third party
fund and could maintain market share.
22
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Assalaamualaikum Wr Wb
Our praise be to God, Allah SWT on
His blessings and mercy so that Bank
Syariah Mandiri could pass 2011 with
satisfying result. With the existing
growth, we are sure for the bright future
of the company. On behalf of Board
of Directors and all PT Bank Syariah
Mandiri stakeholders we hereby report
the company performance in 2011.
Economy and Banking
Condition
National economic growth reached
6.5% in 2011 or higher than 6.1%
in 2010 and 4.5% in 2009. The
2011 economic growth in 2011 was
accompanied by lower inflation rate
of 3.79% that was far lower than that
in the previous year at 7%. Rupiah
exchange rate was also stable at the
range of Rp8500-Rp9.500 per USD.
Bank Indonesia recorded that the
good economic performance was also
coupled with improvement of growth
quality, reflected from high investment
and export achievements as the source
of growth, decrease of unemployment
and poverty, as well as more equitable
distribution of interregional economic
growth.
The conducive economic condition
positively pushed national banking
growth. National banking fund growth
reached 19.07%. Banking credit
growth reached 24.59%. CAR 2010
was 17.18% or higher than 16.05%.
In 2010, NPL gross improved from
2.56% to 2.17%. National banking
intermediary function improved, in
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
which loan to deposit Ratio increased
from 75.21% in 2010 to 78.77% in
2011.with positive impacts on economic
performance.
Sharia Banking Growth
People uphold high trust to sharia
banking. Bank Indonesia recorded that
89% Indonesians are ready to receive
sharia principle. Banking indicators in
line with the condition are the increased
of sharia banking market share towards
national banking total. Since 2000,
sharia banking market share always
increases, from the assets, third
parties fund (DPK), and financing.
Per December 2011, sharia banking
market share from asset is 3,98%, from
third parties fund is 4.14% and from
financing is 4.67%.
Sharia banking also performed well in
its intermediary function. The sharia
bank industry’s Financing to Deposit
Ratio (FDR) or Loan to Deposit Ratio
(LDR) in the conventional banking
reached 88.94% at the year-end
of 2011, compared to 78.77 in the
banking industry. Non-performing
financing ratio of sharia banking was as
low as 2.52% at the year-end of 2011
of far from the maximum limit set by
Bank Indonesia at 5%.
Bank Syariah Mandiri
Growth
Alhamdulillah, The Company’s 2011
performance has brought in satisfying
results with a high growth at 49.84%
for assets, 53.23% for financing and
46.97% for funding. It means that
the asset has grown from Rp32.48
trillion to Rp 48.67 trillion. Financing
has grown from Rp23.97 trillion to
Rp36.73 trillion. Likewise, funding rose
from Rp29.00 trillion to 42.62 trillion.
Asset, financing and funding positions
reached higher than targeted with each
of them earning respectively 106.51%,
102.51% and 105.78% of the preset
targets. This good growth also created
good profit with ROE growth (Return on
Equity) by 64.84%.
In addition, the company has managed
to perform its intermediary function
well, with Financing to Deposit Ratio
(FDR) at 86.03% in the year-end of
2011 that is relatively more stable
compared to the previous years.
1. Market Share
The number of sharia banks in
the year-end of 2011 remains the
same as that of 2010, consisting
of 11 Sharia Commercial Banks
(BUS) and 24 Sharia Business
Units (UUS). The rising trend of
competition in 2010, however,
continued in 2011 due to the
establishment 6 new Sharia
Commercial Banks in 2011.
As the biggest sharia bank in
Indonesia, the Bank is challenged
to maintain its market share.
Alhamdulillah, the company has
managed to maintain its market
share. The 2011 market share in
assets ranged from 33.46% to
35.84% in the year-end of 2011.
In the financing sector, the market
share ranged from 35.55% to
36.80%. In the year-end of 2011,
23
board of directors
report
the financing market share was
at 35.78%. In the funding sector
(DPK), the market share ranged
from 36.93% to 40.46%. In the
year-end of 2011, the third party
fund market share sector was
36.93%. In the end of 2011,
company market share in DPK
sector was 36,93%.
increase of financing portion to
non- cooperatives is expected
to reduce financing risk and
make the bank financially more
reliable.
2. Main Financial Performance
Alhamdullilah, in 2011,
company FBI was very good.
In 2011 FBI reached Rp1.08
trilion, higher than the
target set at the rate Rp725
billion, and higher than that
of 2010 at Rp567 billion.
It means that FBI in 2011
increases 90,83% from the one
in 2010.
.
a. Funding
In 2011, BSM third party fund
grew by 46.97% or Rp13.62
trillion from Rp29 trillion in 2010
to Rp42.62 trillion in 2011. The
Company consistently maintain
customer fund and cheap fund.
The total funding of the company
for the past 6 years has been
dominated by customer fund
(fund from individual customers)
and cheap fund (demand deposit
and saving accounts). As of the
end of December 2011, customer
fund contributed 46.05% to the
total amount of third party fund
while cheap fund contributed
44.08% to the total amount of
third party fund.
b.Financing
BSM financing grew by 53.23%
or Rp12.76 trillion, from
Rp23.97 trillion to 36.73%. It is
the highest growth in the past
6 years and was higher than
that of sharia banking financing
industry at 50.56%.
24
Similarly, the financing to noncooperatives sector grew by
66.62% in the end of 2010 to
74.56% in the end of 2011. The
We are also highly concerned
with prudence aspects. For this
reason we seek to decrease
troubled financing ratio or Non
Performing Financing (NPF).
Alhamdulillah, the Company
Net NPF could be cut down
from 1.29% at the end of 2010
to 0.9% at the end of 2011.
c. Other Banking Services
In development of more modern
banking industry, we have made
various innovations to enhance
company’s modern banking
services. As a result, fee based
income (FBI) has improved its
positive contribution.
Alhamdullilah, in 2011
FBI achieved very good
performance at Rp1.08 trillion,
or higher than the target set at
Rp725 billion, and higher than
that of 2010 at Rp567 billion.
It means that FBI in 2011
increased by 90.83% from that
in 2010.
d. Profitability
Since 2007, the company has
succeeded to surpass the
Return on Equity (ROE) target.
Specifically in 2011, the ROE
was 64.84% or higher than that
in 2010 at 63.58%, and it was
far higher than the average of
Sharia Commercial Banking
ROE at 15.73%.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The Company Return on Asset
(ROA) slightly decreased from
2.21% in 2010 to 1.95% in
2011 due to the remarkable
increase in the number of
Sharia Commercial Bank (BUS)
from 6 banks in 20010 to 11
banks in 2011 that has made
market competition far tighter.
Regardless of slight drop in
ROA, this achievement was
still higher than the average of
Sharia Commercial Banking
industry ROA at 1.79%.
4. Good Corporate Governance
(GCG)
GCG implementation is a longterm process that results in
sustainable values. This system is
implemented through the internal
processes involving Board of
Commissioners, Board of Directors,
Sharia Supervisory Board and all
employees.
In line with Bank Indonesia
regulation on Sharia Commercial
Banking GCG implementation
No. 11/33/PBI/2009, GCG
implementation commitment is
embodied in:
e. Business Efficiency
The Operating Cost to
Operating Income Ratio
(BOPO) tends to be stable at
the level 76.44%. From 2005
to 2011, the Company BOPO
fluctuated with the average of
79.24%. BSM should maintain
this efficiency to optimize
operating income and to control
operating cost.
a. Implementation of duties and
responsibilities of Board of
commissioners and Board of
Directors:
b. Manuals and Implementation of
committee duties and functions
in performing BSM internal
control;
c. Implementation of duties
and responsibilities of Sharia
Supervisory Board;
d. Implementation of compliance,
internal audit and external audit
functions;
e. Legal lending limit and;
f. Transparency of BSM financial
and non-financial conditions.
3. Bank Financial Soundness
In general, the Bank financial
soundness level was ranked the
2nd, meaning that the Bank is good
and the management is capable of
overcoming negative impacts from
economic and financial industry
conditions.
Bank Financial Soundness SelfAssessment. This self-assessment
application is aimed to measure
the management capability in
managing Bank in a certain
period of time under the existing
economic and financial industry
conditions.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
In general, the Bank financial
soundness level was ranked
the 2nd, meaning that
the Bank is good and the
management is capable of
overcoming negative impacts
from economic and financial
industry conditions.
To observe how far GCG practice
has worked, in 2011, BSM
conducted self- assessment
implementation, consisting of
Internal BSM Self Assessment
and External Self Assessment
to Bank Indonesia (see Bank
Indonesia Regulation No. 11/33/
25
board of directors
report
Exchange, National Committee
on Governance Policy, and the
Indonesian Institute of Accountants
(IAI)
PBI/2009 dated 7 December 2001
article 66 on GCG self assessment
implementation and, Bank
Indonesia Circular SE BI No.12/13/
DPbS dated 30 April 2010)
BSM scored 92.94 as “
Better”, increased from
90.6 in 2010, showing
enhancement in the Bank’s
GCG implementation
environment.
BSM Internal Self Assessment
refers to the aspects of
assessments encompassing
Governance Structure
Implementation, Corporate
Governance Policy, Corporate
Governance Disclosure, Internal
Audit and Control Systems. BSM
scored 92.94 as “ Better”, increased
from 90.6 in 2010, showing
enhancement in the Bank’s GCG
implementation environment.
The Bank’s External Self
Assessment reports to Bank
Indonesia scored an increase by
0.12 points from 1.60 in 2010 to
1.72 in 2011, meaning that the
Company is categorized as “Good”
in the implementation of Good
Corporate Governance in 2011 and
2010.
26
Furthermore, the Company won
the 2010 Annual Report Award in
recognition of Company’s GCG
implementation. The Company
received the First Winner title for
the 2010 Annual Report Award
in Non-Listed Private Finance
Category. Good Corporate
Governance (GCG) is the most
weighted criterion for assessing the
GCG implementation quality. The
awarding event was organized by
Bapepam-LK in collaboration with
Directorate General of Taxation,
Ministry of State Enterprises,
Bank Indonesia, Indonesia Stock
5. Corporate Social Responsibility
The Company upholds its
commitment to responsible
corporate citizenship by pursuance
of maximum positive impacts of
its business activities on external
parties (the public, economy,
environment). The Company
embarks on programs specifically
prepared as Corporate Social
Responsibility (CSR) activities.
Such activities are expected to
build employee spirit for responsible
corporate citizenship in carrying out
company business activities.
In 2011, the Company conducted
CSR-oriented business activities
in commercial financing such as:
1) Financing to support Millennium
Development Goals (MDGs) with
5 activities, 2) Socialization on
Micro Financing for Clean Water
Distribution , 8 activities, 3) Proenvironment Micro Financing,
17 activities. The Company also
performed CSR activities in
cooperating with LAZNAS (National
Alms Management Agency or
LASNAS in three programs
consisting of Mitra Umat (People’s
Partner) , Didik Umat (People’s
Education), and Simpati Umat
(People’s Sympathy) .Through
this cooperation, the Company
delivered assistance to 18,305
individuals and 328 institutions
worth in total of Rp15.47 billion or
a jump by 220% from Rp6.5 billion
in 2010.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
6.Awards
We thank all parties for their
appreciation to the Company. In
2011, the Company received 29
awards from external parties, both
national and international. The
awards are considered to be the
objective assessment as well as
the booster for the Company to
further enhance its performance in
the future. The awards are:
1. Indonesia Brand Champion
Award (Islamic Banking) from
Markplus and Marketeers
Magazine;
2. Indonesia Brand Equity
Champion (Islamic Banking) )
from Markplus and Marketeers
Magazine;
3. Ratings; BSM Long Term
Rating improved from AA- to
AA ( Outlook: Stable) from Fitch
Ratings;
4. Indonesia Service to Care
Award (Islamic banking) from
Markplus and Marketeers
Magazine;
5. Deals of The Year from
Redmoney/Islamic Finance
News;
6. Indonesia Sharia Bank Loyalty
Index from Markplus and
Infobank;
7. Service Quality Award from
Service Excellence and Carre
Customer Satisfaction and
Loyalty Magazine;
8. Corporate Image Award 2011
from Bloomberg Indonesia and
Frontier Consulting;
9. Word of Mouth Marketing
Award from SWA and Onbee
Marketing Research;
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
10. Banking Service Excellence
Awards 2011 from MRI and
Infobank
11. Indonesia Best Brand Award
(Platinum) from SWA and Mars
12. Infobank Platinum Trophy from
Infobank magazine
13. ABFI Banking Award 2011 from
ABFI Institute Perbanas and
Tempo Magazine
14. Best Syariah 2011 from
Berita Satu Group (Investor
Magazine);
15. The Best Islamic Bank in
Indonesia from The Asset, Hong
Kong;
16. The Best Islamic Retail Bank in
Indonesia from The Asset, Hong
Kong;
17. The Best Islamic Trade Finance
Bank in Indonesia from The
Asset, Hong Kong;
18. The Best Islamic Deals 2011 in
Indonesia from The Asset, Hong
Kong;
19. Annual Report Award 2010
from BI, Bapepam LK,
Directorate General of Taxation,
Ministry of Enterprise, Bank
Indonesia, Indonesia Stock
Exchange, National Committee
on Governance Policy, and
the Indonesian Institute of
Accountants (IAI);
20. The Best Islamic Bank from
Asiamoney;
21. Net Promotor Score (Leader)
from SWA Magazine;
22. The Most Expansive Third Party
Fund from Karim Business
Consulting;
23. The Most Expansive Financing
from Karim Business
Consulting;
24. The Most Prudent from Karim
Business Consulting;
In 2011, the Company
received 29 awards from
external parties, both
national and international.
The awards are considered to
be the objective assessment
as well as the booster for the
Company to further enhance
its performance in the future.
27
board of directors
report
25. The Most Profitable from Karim
Business Consulting;
26. The Best Islamic Bank from
Karim Business Consulting;
27. The 2nd Most Efficient from
Karim Business Consulting;
28. Indonesia World Record
Museum and Indonesia Record
Museum;
29 BSM Long Term Rating
improved from AA- to AA (
Outlook: Stable) from Fitch
Ratings.
To face the existing business
challenge, the Company has
set bank business plan for
2012 that shed highlight on
Five Main Focuses and Ten
Priorities.
28
7. Future Business Challenge
The 2012 Economic condition is
predicted to be better than that of
2011. Meanwhile, sharia banking
market competition is also predicted
to escalate. In anticipation of such a
more challenging business condition,
the Company should always be
ready, and keep on improving values
for all stakeholders.
To face the existing business
challenge, the Company has set
bank business plan for 2012 that
shed highlight on Five Main Focuses
and Ten Priorities.
Company five main focuses in 2012
are:
1. Profitability achievement for
Rp800 billion through:
a. Improving Productivity ( min.
Rp 126 million/employee)
b. Improving efficiency (BO/PO
max. 82.60%);
c. Improving CASA ( Low Cost
Fund min. 43%)
d. Improving Asset quality (NPF
max. 2.91%)
2. 3. 4. 5. e. Write–Off Debtor Collecting
(Recovery rate above 30%)
Expanding Market Share through
the development of:
a. Asset (target growth Rp
14.37% trillion or Rp 63.04
trillion position;
b. Financing (target growth
Rp 14.91 trillion or Rp50.59
trillion position)
c. DPK (target growth 14.91
trillion or Rp 54.10 trillion)
Improving Service Quality to be
the big three in Sharia Banking,
upgrading the 6th rank in 2011;
Corporate Plan Project
Implementation and CBS in
2012;
Strengthening implementation
of shared values of ETHIC
( Excellence, Teamwork,
Humanity, Integrity, Customer
Focus).
Meanwhile, the Ten Work Priorities
in 2012 are:
1. To reach net profit at least Rp800
billion;
2. To raise third party funding at
least Rp14.91 trillion and to
maintain customer fund portion
min 50% and low cost fund
portion min. 43.00%;
3. To develop prudent financing at
least Rp14.45 trillion with Micro &
SME financing portion min. 74%.
4. To control financing quality of
NPF gross max. 2.91%, NPF net
max. 1.19% and APYD/AP max
2.35%
5. To improve business efficiency so
cost to income ratio max.59,00%
6. To earn fee base income min.
Rp1,51 trillion;
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
7. To improve service quality
through the improvement of
service quality rank to be the
big 3 in Sharia banking and
the opening of new outlets: 6
Branch Offices, 75 Sub-Branch
offices specially for Pawn (in
cooperation with Bank Mandiri 20
outlets, PT Pos 50 outlets, BSHB
5 outlets), 25 Cash Offices, 79
PP, 250 pawn shops at PT Pos
285 pawn shops at Bank Mandiri,
and 294 ATM units.
8. To implement new Core Banking
System,
9. To implement Corporate Plan
Project 2012;
10. To strengthen competency-based
human resource through the
development of competency,
quality and employee productivity
as well as corporate culture
internalization (ETHIC)
Finally, on behalf of the Board of
Directors, we extend our appreciation
and thank to the government, the
regulatory agency, shareholders,
religious leaders, customers, business
partners, the public in general and all
BSM employees along with their family
for the continued support and trust.
Sustainable support will enable BSM
to play its role in creating people’s
welfare and making BSM the preferred
sharia bank and the pride of Indonesian
people.
Finally, we are delivering explanations
on BSM performance for the year 2011,
as presented in this Annual Report,
including Financial Reports in the form
of Balance Statement, BSM profit and
loss report for the accounting year
of 2011. The Bank Financial Reports
2011 have been audited by the Public
Accountant Office of Purwanto,
Suherman & Surja (a member firm of
Ernst & Young Global Limited) with
opinion statement of “unqualified
opinion”.
May Allah always bless our efforts.
Wassalamu’alaikum Wr. Wb.
PT Bank Syariah Mandiri
Board of Directors
Yuslam Fauzi
President Director
Hanawijaya
Director
Amran Nasution
Director
Sugiharto
Director
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Zainal Fanani
Director
Achmad Syamsudin
Director
29
30
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
company
profile
BSM keeps on improving service quality
through product diversification,
technology capacity improvement,
and human capital development.
669
BSM Service Points all over Indonesia
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
31
company
profile
corporate
identity
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
dkh@syariahmandiri.co.id
Founding Date:
25 October 1999
Established Since:
1 November 1999
Authorized Capital
Rp2,500,000,000,000.Paid-in Capital
Rp1,158,243,565,000.Equity
Rp3,073,264,468,871.Office Networks
669 offices all over Indonesia
ATM Network
Total ATM Units 65,118 network consisting of:
n ATM Syariah Mandiri,
n ATM Mandiri unit,
nATM Bersama,
nATM Prima, and
nMalaysia Electronic Payment System (MEPS).
Number of Employee
11,788 people
Rating
AA+ (idn), Fitch Rating 2011
32
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
organizational
structure
Shareholders
General Meeting
Board of Sharia
Supervisory
2. M. Syafii Antonio, Anggota
3. M. Hidayat, Anggota
Board of
Commissioners
Board of Commissioner:
Board of Sharia Supervisory:
1. Komaruddin Hidayat, Ketua
Board of Directors
1. Achmad Marzuki, Komut/Kom. Independen
President Director
Yuslam Fauzi
2. Abdillah, Komisaris Independen
3. Ramzi A. Zuhdi, Komisaris Independen
4. Tardi, Komisaris
5. Lilis Kurniasih, Komisaris
Micro Small Financing
Directorate
Hanawijaya
Consumer Financing
Directorate
Sugiharto
Corporate & Treasury
Financing Directorate
Amran Nasution
Compliance
Directorate
Zainal Fanani
Risk Management
Directorate
Achmad Syamsudin
Micro, Small &
program Financing
Andri Vendredi
Commercial
Financing
Subki Matsyah
Corporation and
Investment Financing
Hadi Purnomo
Compliance
Priyo Prakoso
Risk Management
M. Fanny Fansyuri
Audit Committee
Internal Audit
Priyono
1. Abdillah, Independent
Commissioner , Chairman
2. Ramzi A. Zuhdi,
­Independent
Consumer
Financing
Rustanti Rachmi
Restructuring
Sulistyo Budi
Branch Corporation
Financing
Hadi Purnomo
Network
Edwin Iswan Siregar
Pawnshop (desk)
Jefry Pranaya
Financing
Settlement
Edy Suryadi
Special & Indication
Financing (Desk)
Siti Nurdiana
Human Capital
Eka Bramantya
Danuwirana
Mass Banking (Desk)
Dewa Bagus Ivan Baruna
Corporate Relation
& Legal Affairs
Achmad Fauzi
System & Technology
Roosita Abdullah
TPMO
Putu Rahwidhiyasa
­Commissioner, Member
3. Tjeppy Kustiwa,
Independent party,
Member
Operation
Agus Tri Widodo
4. Ferry Firmansyah, ,
Independent party,
Member
Product & Business
Development
Dewa Bagus Ivan Baruna
Facilities & Logistics
Taufik Machrus
Treasury
Tutuy Guntara
Training (Desk)
Helmi Huseno
Accounting
Musdar Ayub
Planning, Development
Sisdur &
Supervision
Muslihan
and Performance Management
Firman Jatnika
Nomination and
Remuneration
Committee
1. Achmad Marzukii,
Independent
Commissioner, Chairman
Business & Remittance
Setyobudi Tariadi
Alternate Channel (Desk)
Zul Ikbal
2. Abdillah,
Independent
Commissioner, Member
3. Tardi, Commissioner,
Member
Reg. Off. I-V
4. Eka B. Danuwirana,
Member
5. Achmad Fauzi, Member
Risk Monitoring
Committee
1. Ramzi A. Zuhdi,
Independent
Branch
Commissioner, Chairman
2. Abdillah, Independent
Commissioner, Member
3. Lilis Kurniasih,
Commissioner, Member
4. Edyanto Rachman,
Independent party,
Member
5. Tjeppy Kustiwa,
­Independent party,
Member
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
33
company
profile
brief
history
Multi dimensional crisis that affected Indonesia in 1997-1998
brought wisdom of its own for a milestone of sharia banking
system in Indonesia. When conventional banks suffered
from economic crisis impact, at the same time developed the
thought of a concept that could save economy from prolonged
crisis threat.
On the other side, to save national economyy, the government
took initiative to merge 4 (four) state banks: Bank Dagang
Negara, Bank Bumi Daya, Bank Exim and Bapindo, into a
new bank under the name PT Bank Mandiri (Persero) Tbk.
On July 31, 1999. PT Bank Mandiri (Persero) Tbk made the
merger policy on capacity as majority owner of PT Bank
Susila Bakti (BSB). PT BSB was a conventional bank owned
by Employee Welfare Foundation (YKP) of PT Bank Dagang
Negara and PT Mahkota Prestasi. To come out from the
economic crisis, PT BSB also made attempts to merge with
other banks and to invite foreign investors.
As the follow up of the thought of Sharia Economic System
Development, the government has imposed Law of Republic
of Indonesia No. 10 year 1998 that gives commercial banks
opportunity to serve sharia transactions (dual banking
system). As a respond, PT Bank Mandiri (Persero) Tbk made
consolidation and established a team of Sharia Banking
Development, with the purpose to develop sharia banking
services in the company group PT Bank Mandiri (Persero)
Tbk.
The Sharia Banking Development Team considered that the
enforcement of Law of Republic Indonesia No. 10 year 1998
was a good momentum to convert PT Bank Susila Bakti from
conventional bank into sharia bank. For this reason, Sharia
Banking Development Team soon prepared system and
infrastructure, to convert conventional business activities of
BSN into a bank operated based on sharia principles under
the name PT Bank Syariah Mandiri as stated in the notary
deed: Sutjipto, SH, No. 23 dated 8 September 1999.
The change of business activities of BSB into sharia
commercial bank was confirmed by Governor of Bank
Indonesia through decree of BI Governor No. 1/24/KEP.
BI/1999, 25 October 1999. Further, through Senior Deputy to
Governor of Bank Indonesia Decree No. 1/1/KEP.DGS/1999,
BI approved the change name to become PT Bank Syariah
Mandiri (BSM). Following the inauguration and the legal
recognition, PT Bank Syariah Mandiri has officially operated
since Monday 25 Rajab 1420 H or 1 November 1999.
34
Annual Report 2011 PT Bank Syariah Mandiri
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Harmonization of business idealism
and spiritual values becomes one of the
superiorities of Bank Syariah Mandiri.
PT Bank Syariah Mandiri presents and moves forward with the
harmonization of business idealism with spiritual values. Bank
Syariah Mandiri grows as bank that is able to combine both
to be the base of its operational activities. Harmonization of
business idealism and spiritual values becomes one of Bank
Sharia Mandiri superiorities in its role in Indonesian Banking.
PT Bank Syariah Mandiri
Milestone
l
1955 the establishment of PT Bank Industri Nasional
(PT BINA)
l
1967 PT BINA changed name to PT Maritim Indonesia
l
1973 PT Bank Maritim Indonesia changed name to PT
Bank Susila Bakti
l
1999 PT Bank Susila Bakti converted to PT Bank Syariah
Mandiri
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
35
company
profile
corporate
event
Along the period of 2011, BSM
conducted various kinds of
corporate events, such as
cooperation agreement activities,
KUR channeling, corporate promo, and
CSR activities.
29
January
Socialization of
Transformation
II attended by
all employees in
Jabodetabek and
families.
8
April
Cooperation
Agreement between
Perum Pegadaian
and BSM.
21
July
Handingover KUR
Bank Mandiri
and BankSyariah
Mandiri.
19
October
Dzikir with orphans at
Head Office.
36
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
16
February
Handingover
scholarships for
street children actors/
actress of “Rindu
Purnama” film.
11-13
May
Indonesia Banking
Expo. BSM as the
coordinator of the
event organizer.
11
August
Selling cheap foods
to low employee by
employees’ wives.
1
November
Morning pray
and BSM 12th
Anniversary.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
29
March
BSM was elected
as The Best Sharia
Bank 2011 Investor
magazine version.
21
June
Company Visit
Ministry of
Communication and
Information and
Journalists from 18
Countries.
5
September
BSM won The First
Winner for Annual
Report Award (ARA)
Non Listed Private
Finance category.
29
December
Handingover
prizes for the
winners of contests
commemorating BSM
12th Anniversary.
37
company
profile
list of
award
38
NO
AWARD
1
Indonesia Brand Champion Award (Islamic Banking)
2
Indonesia Brand Equity Champion (Islamic Banking)
3
BSM long term rating increased from AA- to AA+ (Outlook:Stable)
4
Indonesia Service to Care Award (Islamic Banking)
5
Deals of The Year
6
Indonesia Sharia Bank Loyalty Index
7
Service Quality Award
8
Corporate Image Award 2011
9
Word of Mouth Marketing Award
10
Banking Service Excellence Awards 2011
11
Indonesia Best Brand Award (Platinum)
12
Infobank Platinum Trophy
13
ABFI Banking Award 2011
14
Best Syariah 2011
15
The Best Islamic Bank in Indonesia
16
The Best Islamic Retail Bank in Indonesia
17
The Best Islamic Trade Finance Bank in Indonesia
18
The Best Islamic Deals 2011 in Indonesia
19
Annual Report Award 2010
20
The Best Islamic Bank
21
Net Promotor Score (Leader)
22
The Most Expansive Third Party FUnd
23
The Most Expansive FInancing
24
The Most Prudent
25
The Most Profitable
26
The Best Islamic Bank
27
The 2nd Most Efficient
28
Indonesia World Record Museum
29
BSM long term rating increased from AA to AA+ (Outlook:Stable)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
CRITERIA
Institutions
DATE
Appreciation on the highest top of mind awareness bank. BSM gained 41.25 point. Bank Muamalat gained 22.02 and BRI
Syariah 13.73
Markplus and Marketeers Magazine
12 Jan 2011
Appreciation on bank with the highest brand equity index based on awareness brand index, image brand,
and loyalty brand
Markplus and Marketeers Magazine
12 Jan 2011
Appreciation is for perfromance of finance and strong support from holding company so as Fitch Rating enhance BSM long term
rating from AA to AA. Meanwhile, BSM sharia bond increased from A+ to AA- (idn)
Fithc Ratings
13 Jan 2011
Appreciation on financial institutions with service to care.
Markplus and Marketeers magazine
27 Jan 2011
Appreciation on Bank Syariah Mandiri as the only sukuk retail agent SR002.
Redmoney/Islamic Finance News
24 Feb 2011
Appreciation on bank’s costumer loyalty based on the aspects of:
1). Customer satisfaction index. 2). Customer transaction index. 3). Customer relationship index. 4). Customer partnership
index
Markplus and Infobank
28 Feb 2011
Appreciation is given based on Indonesia Service Satisfaction assessment containing both Perceive Service Value (PSV)
and Perceive Service Quality (PSQ). PSV is assessed based on Product Delivery. PSQ assessment is based on branch
accessibility, service process, people and service complaint handling parameters. Survey was performed in Jabodetabek,
Suarabaya, Medan, and Semarang involving 3000 respondents consist of 1,600 random respondents and 1,400 booster
respondents.
Service Excellence Magazine dan Carre
Customer Satisfaction and Loyalty
11 May 2011
Appreciation on the Best In Building and Managing Corporate Image based on the surveys performed in Jakarta, Medan and
Surabaya. The aspects assessed are Quality, Performance, Attractiveness, and Responsibility. The respondents are publics,
managements, journalists, and investors.
Bloomberg Indonesia and Frontier
Consulting
8 June 2011
Appreciation on mouth to mouth Marketing based on the survey performed in Jakarta, Bandung, Surabaya Medan, Denpasar
and Makassar. The aspects assessed are talking, promoting, selling and social network.
SWA and Onbee Marketing Research
9 June 2011
The 1st Best ATM Sharia Bank
MRI and Infobank
Appreciation on BSM brand popularity among the community with the indicators:
1). Brand awareness (popularitas merek). 2). Ad awareness (popularitas iklan). 3). Brand value (tingkat kualitas merek). 4).
Satisfaction and Loyalty Index (tingkat kepuasan dan loyalitas pelanggan). 5). Pangsa pasar.
6). Gain index (potensi pertumbuhan merek di masa mendatang)
SWA and Mars
Bank with high performance for more than 10 consecutive years, BSM gains excellent qualification for 11 consecutive years
with the indicators:
l CAR. l Productive Activa (NPL and PPAP). l Profitability (ROE and ROA). l Liquidity (LDR and Credit Growth).
l Eficiency (BOPO and NIM)
16 June 2011
21 July 2011
22 July 2011
The assessment of Financial performance based on CAMEL and DEA methods. The assessment is for financial report 2010.
Category: Sharia Bank
ABFI Institute Perbanas and Tempo
Magazine
Category: Sharia Bank
The assessment bases on 17 financial performance paramaters such as CAR, BOPO, NPF, ROE, and ROA, ets including
DPK channeling and Zakat.
Berita Satu Group (Investor magazine)
3 Agt 2011
Under Sharia Bank Category based on the assessment of financial performance 2010.
The Asset of Hong Kong
6 Sep 2011
BSM is the best Sharia Bank in retail bank transaction
The Asset of Hong Kong
6 Sep 2011
BSM is the best Sharia Bank in trade finance transaction in Indonesia.
The Asset of Hong Kong
6 Sep 2011
As a Join placing agent for gov Indonesia retail sukuk issuance
The Asset of Hongkong
Appreciation is for transparency of Information in company’s annual book report. BSM gained first rank for private company,
financial, non-listed category.
BI, Bapepam LK, Directorate General of
Taxation, KNKG, IAI, BEI, Ministry of Finance
14 Sep 2011
Appreciation is for Sharia Bank’s performance in Indonesia. The winner is from the polling.
Asiamoney
29 Sep 2011
Appreciation based on costumer loyalty survey due to the promotion done by the loyal costumers who are willing to
recommend the product to their community.
Swa
27 Oct 2011
Appreciation on Sharia Bank with the highest DPK growth
KBC
10 Nov 2011
Appreciation on Sharia Bank with the highest financing growth
KBC
10 Nov 2011
Appreciation on the most prudent Sharia Bank.
KBC
10 Nov 2011
Aprreciation on Sharia Bank with the highest profit rate
KBC
10 Nov 2011
Appreciation on Sharia Bank with the best fiancial performance
KBC
10 Nov 2011
Aprreciation on Sharia Bank with the second most efficient
KBC
10 Nov 2011
Appreciation on Bank conducting book review with the highest numbers of branches involved
MURI (Indonesia Record Museum)
11 Nov 2011
Appreciation for performance of finance and strong support from holding company so as Fitch Rating enhances BSM long
term rating from AA to AA- (idn). Moreover, BSM Sharia Obligation improved from AA- (idn) to AA.
Fitch Ratings
12 Dec 2011
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
28 July 2011
6 Sep 2011
39
company
profile
awards
During 2011, BSM received various
awards from various institutions,
both national and international. These
awards reflected people trust to
PT Bank Syariah Mandiri.
29
16
12
10
8
5
5
2011
2010
2009
2008
2007
2006
2005
40
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Harmonization of business idealism
and spiritual values become one of the
superiorities of Bank Syariah Mandiri.
rating
BSM always improves quality in various
activities. In 2011 Fitch Rating gave
score AA+ (idn).
AA+(idn)
2011
AA-(idn) AA-(idn)
2009
A+(idn) A+(idn)
2007
A(idn)
FitchRating
2010
FitchRating FitchRating
2008
FitchRating FitchRating
2006
id BBB+
FitchRating
2005
id BBB
2004
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
41
company
profile
vision and
mission
Company Vision and Missions
In the attempts to support company’s objectives creations,
BSM considers that it is necessary to set vision and to
strengthen Company’s Mission. The strengthening of
company’s Missions is conducted by adjusting the previous
existing Missions with recent condition.
BSM Board of Directors through Circular Letter No. 10/001/
UMM 30 January 2008 on Vision, Missions and BSM Shared
Values “ETHIC” has socialized Vision, Missions and BSM
Shared Values to all BSM employees. Further, it is expected
that all BSM employees know, understand and perform Vision,
Missions and BSM Shared Values.
Vision
To be the most trusted and preferred Sharia bank for business
partners.
Mission
1. To generate sustainable growth and profits;
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.
Vision and Missions Explanation
a. Trusted Sharia Bank
To be trusted sharia bank we strive by maintaining
competency and integrity
1)Competency
We implement by improving skills in line with the duties
given and banker profession demand. This complies
with the normative base such as:
42
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
To become trusted sharia bank BSM
keeps on maintaining competency
and integrity.
“And
do not pursue a matter in which you have no
knowledge, surely the hearing, and the sight, and
the heart, all those shall be questioned thereof.”
(Al Isra (17): 36)
2)Integrity
We implement by obeying profession code of ethic and
think to behave well. This complies with the normative
base such as:
“God does not love the corrupt” (Al Maidah (5):
64)
b. Preferred for Business Partners
To be preferred bank for business parteners we always
maintain business both business aspect and sharia aspect
1) Business Aspect
To be preferred bank for business partners from
business aspect, we implement it by providing such as:
interesting product, competitive pricing, efficient and
prudent business process, and sufficient infrastructure.
This complies with the normative base such as:
 “Make things easy (every business), do not make it
difficult and well invite, do not cause others to stay
away” (H.R. al Bukhari dan Muslim)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
2) Sharia Aspect
To be preferred bank for business partnesrs from
sharia aspect, we implement it by performing Sharia
Supervisory Board function pursuant to the prevailing
regulations.
This complies with the normative base such as:

“And who can be better in Religion than he who
submits his whole self to the will of GOD, and
does good and follows the Relligion of Abraham,
a man of pure faith. And God took Abraham as a
friend.”(An Nisaa (4): 125)
43
company
profile
company
values
BSM company valuses are Excellence, Teamwork, Humanity,
Integrity and Customer Focus.These values come from the
agreement of all BSM employees bottom up.
In order that the alues formulated and agreed can be
comprehended and implemented by al BSM employees in
organization, so the values should be implemented in main
behaviors:
Core Values
Excellence
(Imtiyaaz):
To Attempt to reach perfection through integrated and sustainable
improvement.
Teamwork
(‘Amal Jama’iy):
To develop synergic work environment
Humanity
(Insaaniyah):
To uphold religious humanity values
Integrity
(Shidiq):
To understand and obey profession ethic code and to think as well as to
behave excellently.
Customer Focus
(Tafdhiilu Al-‘Umalaa):
To understand and to fulfill customer’s need (external and internal) to make
BSM as trusted partner and profitable
44
Annual Report 2011 PT Bank Syariah Mandiri
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BSM Company values are Excellence,
Teamwork, Humanity, Integrity and
Customer Focus.
Core Behaviour
1.. Committed to perfection
2. To develop positive sense of belonging
3. Prudence: To keep mandate carefully by calculating risk on
decision made and actions taken.
4. Competence: To improve skill pursuant to the duites and banker
profession demand
1. Trust: To develop mutual trust based on positive thinking and
behavior
2. Result: To have orientation on the result and added values for
stakeholders.
3. Respect: To appreciate other people’s opinion and contribution
4. Effective Communication: To create smooth and healthy
messages traffic atmosphere, and to avoid failure by improving
communication skill.
1. Sincerity: To straighten the intention to get mendapatkan ridha
Allah
2. Universality: To develop virtues generally accepted by people.
3. Social responsibility: To have awareness to social environment
without ignoring company.
1. Honesty: To uphold honesty in behavior.
2. Discipline: To conduct duties and responsibility complying with
provision and company’s need and sharia principles.
3. Responsibility: To accept duties as mandate and to conduct full of
responsibility
1. Good Governance: To implement healthy corporate governance
2. Innovation: To be proactive and implement new ideas to give
better and faster services to the customers compared to other
competitors.
3. Customer Satisfying: To prioritize customer services and
satisfaction
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Contra Behavior
Appropriate Behavior
Placing employee based on the
competency
lEnriching experience and benchmarking
lTwo ways approach
l Knowledge Management in Company
l
Understanding and comprehending vision,
missions, values and company strategy
lAlways positive thinking
l Objective
l Considering duties as mandate and
challenge
l Work motivation for beneficience
l
Simple
Sincere
l Share with others
l Care wih others
lAble to maintain mandate
l
l
Lack of Competency
Lack of Experience
l Lack of Training
lDominan dominant top-down approach
l Low access to information
l
l
l
Unaware to the objective of the company
thinking
lNegative
lSubjective
(like and dislike)
duties as burden
lLow motivation
lMaterialistic
lConsidering
l
Profit oriented
lEgoistic
l
to others
Untrusteeship
l
l
Lier
l
lToo
Honest
Talk less unimportant thing
l Trusteeship
l Open mind to ctritic
l Doing best to reach something positive
l
lUnaware
much Lying
lHypocrite
lSensitive
lOpportunist
Separating personal and company interest
lResponsive
Fast and perceptive
in team
lInnovative and out of box
l
lWork
Conflict of interest
responsive
lNo or slow in follow up
lIrresponsible
lInconsistence
l
lNot
45
company
profile
target
and strategy
Defining BSM target and strategy is in harmony with the
business operational, in order to create a sustainable synergy,
Target and Strategy are reflected in 5 (five) main programs.
BSM Five Main Work Programs in
2011
1. Developing Market Share Asset, Third parties fund and
financing;
2. Collecting Consumer Fund and Financing Channeling,
with high yield in Micro, small and consumer Business
Segment ( including pawn);
3. Asset Quality Management (APYD & NPF);
4. Developing Fee Based Income;
5. Infrastructure Strengthening (network, core banking
system, shared values (ETHIC), risk management, and
escorting)
10 Priorities in 2011
1. To reach net profit at the minimum of Rp525Billion;
2. To collect third party fund at the minimum of Rp8.84 trillion
and to enhance consumer fund portion minimum at 61%
and low cost fund portion minimum at 50%.
3. To develop prudent financing at the minimum of 8.31
trillion with UMKM financing portion minimum at 65%;
4. To receive fee based income at the minimum of Rp742
billion;
5. To improve business efficiency so cost to income ratio at
the maximum of 49.97%;
6. To control financing quality so NPF gross maximum
at 3.91%, NPF nett maximum at 1.32% and APYD/AP
maximum at 3.50%;
7 To improve service quality through SQI (service quality
index) enhancement at the minimum of 90, outlet opening
13 Branch Office, 136 Auxiliary Branch Offices, 20 special
Auxiliary Branch Offices, 19 Cash Offices, 65 PP, 335
pawn outlet,230 micro outlet and 269 ATM;
8. To implement new Core Banking System;
9. To implement Corporate Plan project 2011-2015 with
target accomplishment of 15 projects in 2011;
10. To strengthen Competency-based human resources
through quality development and and e-learning utilization
by reaching minimum 12 modules, average of user 6.000
per month.
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Annual Report 2011 PT Bank Syariah Mandiri
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Developing prudent financing at the
minimum of Rp14.45 trillion with
UMKM portion min.65%;
BSM Five Main Work Programs in
2012
1. Reaching profitability with the growth of:
a Productivity improvement;
b. efficiency improvement (BO/PO at 82,60%)
c. Improvement of CASA ( Low Cost Fund at 46,47%)
d. Asset Quality Improvement (NPF at 2.18%);
e. collection of write-off debtor (recovery rate above 30%)
f. Profit at Rp800 billion.
2. Developing market share through the growth of:
a. Asset with the growth at Rp16.95 trillion;
b. Financing with the growth at Rp14.35 trillion;
c. DPK with the growth at Rp14.91 trillion.
3. Improving service quality to become the biggest 3 (three)
in Sharia Banking
4. Implementing Corporate Plan project and Core Banking
System (CBS) in 2012
5. Strengthening implementation of share value ETHIC.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
10 Priorities in 2012
1. To reach net profit with the growth at the minimum of
Rp800 billion;
2. To collect third party fund with the growth at the minimum
of Rp14,91 trillion and to maintain consumer fund portion
at the minimum of 50% and low cost fund portion at the
minimum of 40,00%;
3. To develop prudent financing at least Rp14.45 trillion with
UMKM portion at the minimum of 65%;
4. To control financing quality so NPF gross at the maximum
of 3.00%, NPF nett at the maximum of 2.00% and APYD/
AP at the maximum of 2.50%;
5. To improve business efficiency so cost income ratio at the
maximum of 62,00%
6. To receive fee based income at the minimum of 1.51
trillion.
7. To improve service quality through improving service rank
to become the biggest 3 in sharia banking and the opening
of outlets, 6 Branch Ofices, 75 Auxiliary Branch Office, 75
Auxiliary Branch Office special for pawn, (in cooperation
with Bank Mandiri 20 outlets, PT Pos 50 outlests, BSHB
5 outlets) 25 Cash Office, 79 PP, 250 pawn sales outlet at
PT Pos, 285 pawn sales outlet at Bank Mnadiri, and 294
ATMs.
8. To implement New Core Banking System
9. To implement Corporate Plan project 2012;
10. To strengthen competency-based human resources
through development of competency and productivity
of employee and the internalization of company culture
(ETHIC).
47
company
profile
products
and services
Funding Products
l
BSM Tabungan
A saving account in the rupiah currency using the
Mudharabah Mutlaqah scheme with pre-defined schedule
of withdrawal.
l BSM
l
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
principle-based scheme that allows customers for
withdrawal at any time under predefined conditions.
l BSM
Tabungan Mabrur
It is a saving aimed at helping the public to plan for the hajj
& umrah pilgrimage.
l 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
l 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.
l BSM
Deposito
A time investment product that allows customer for fund
withdrawal on mutually approved schedule.
l BSM
l
48
Deposito Valas
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
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM always develops
and creates innovative sharia banking
product.
BSM Giro US Dollar
A current account in USD currency that allows customer
for fund withdrawal at any time in line with the wadiah yad
ad-dhamanah principle.
l
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 .
Financing Products
l
lBSM
l BSM
l
Giro Euro
A current account in the Euro currency that allows
customer for fund withdrawal at any time in line with the
wadiah yad ad-dhamanah principle.
l
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.
lBSM
Tabungan Perusahaan
A saving dedicated solely to receive excess fund from the
current account of a legal entity Institution/ Company by
using autosave facility.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
l
l
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.
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.
49
company
profile
l
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.
l
l
l
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.
l
l
Sheet 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.
l
l
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.
l
l
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.
l
l
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.
l
lPKPA
50
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 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 Pembiayaan Pemilikan Rumah
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 Pembiayaan Pemilikan Rumah
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.
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).
Sharia-Subsidized House Financing (PPR)
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.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
To fulfill customer expectation, BSM offers
14 kinds of products, BSM offers 14 kinds
of Funding products and 22 kinds of
financing products
l
l
l
l
BSM Sistem Pembayaran Off Line
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 Collateral-tied Investment Financing
Syariah 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.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
51
company
profile
Services
l
l
l
l
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 “Use Your
BSM Card Here”.
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.
l PPBA (Payment via ATM Fund
Transfer)
Institutional payment services (education institution,
insurance, special institution, non-bank financial institution)
through fund transfer at the ATM.
lBSM
Pooling Fund (Cash Management)
A facility provided by the bank to let customers manage
their fund easily in an automatic manner.
l BSM
52
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.
l 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.
l 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).
l 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.
l BSM
Mobile Banking GPRS
GPRS cellular technology based service that allows
customers to do a variety of transactions anywhere at any
time.
l
l BSM
Transfer Western Union
Money remittance service, conducted real time on line
across countries or within one country (domestic).
l BSM
Kliring BSM Clearance
It is draft bill from another bank located at the same
clearing region.
l BSM
l
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.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Concerning service products
BSM offers 25 products.
BSM RTGS BSM RTGS (Real Time GrossSettlement)
It is a fund real-time transfer in rupiah among banks within
the same or different cities.
l
l BSM
Referensi Bank
A letter of statement issued by BSM based on the
customer application for a specified purpose.
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
It is an automatic fund transfer between a current account
and a saving account for maintaining a specified amount
of balance.
l
BSM Transfer Valas
Foreign currency transfer consists of:
n Outgoing transfer of foreign currency fund from BSM
customer account to a customer of another bank at
home country or overseas.
n Incoming transfer of foreign currency fund from
another bank customer at home or overseas to the
BSM customer account.
l
l BSM
l
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.
l BSM Autosave
l BSM
l 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.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
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.
53
company
profile
board of
­commissioners
profile
54
Tardi
Ramzi A. Zuhdi
Commissioner
Independent Commissioner
Laporan
Annual Report
Yearan 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Achmad Marzuki
President Commissioner/
Independent Commissioner
Annual Report
Laporan
Yearan2011
2011PT
PTBank
BankSyariah
SyariahMandiri
Mandiri
www.syariahmandiri.co.id
Abdillah
Independent Commissioner
Lilis Kurniasih
Commissioner
55
company
profile
Achmad Marzuki
Abdillah
President | Independent Commissioner
Independent Commissioner
Indonesian Citizen. Born in Palembang,
25 July 1939. A 1964 Graduate of Gadjah
Mada University and 1980 Graduate of
University of Indonesia. Occupy as President
Commissioners since 19 June 2008.
Training attended:
l Business Workshop l Supervised
Achievement Motivation Training &
Consultant l Insurance and Development
Banking l Course on Development and
Promotion Small Enterprises by EDI/IBRD l
Systematic Managerial Analysis Application
l Seminar on Economic Crime in Banking l
Top Management Program of Asian Institute
l The Executive Risk Management Refresher
Programme l Risk Management in Retail
Banking
Career Track:
l President Commissioner and Independen
Commissioner l Senior Advisor of BSM
Board of Commissioner l President
Commissioner of PT Bumi Daya Plaza l
President Director of PT Bank Pembangunan
Indonesia (Persero) l Director of PT Bank
Bumi Daya (Persero)
56
Indonesian Citizen. Born in Brebes,
21 February 1947. A 1977 graduate
of University of Indonesia. Occupy as
Commissioners since 19 June 2008.
Training attended:
l Financial Accounting Course l Audit
Inspection and Control Course l Management
Accounting Seminar l Asset Liability
Management Course l Top Management
Program l SESPI BI l Qualified Internal
Auditor Certificate (QIA)
Career Track:
l Independent Commissioner of PT Bank
Syariah Mandiri l Audit Committee Member
of PT Bank Syariah Mandiri l Oversight
Chief of PT Bumi Daya Welfare Foundation l
Commissioner of PT Estika Sedaya Finance
lOversight Committee Chief THT Foundation
- PT Bank Bumi Daya (Persero) l Internal
Control Department Head PT Bank Bumi
Daya (Persero) l Accounting Department PT
Bank Bumi Daya (Persero)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Ramzi A. Zuhdi
Lilis Kurniasih
Tardi
Independent Commissioner
Commissioner
Commissioner
Indonesian Citizen. Born in Jambi, 5 May 1952.
A 1972 graduate of Gajah Mada University
and Post Graduate of Iowa State University in
1989. Occupy as Commissioners since
29 June 2010.
Training attended:
l Islamic Banking l Executive Program l
Risk Management Certification l Leadership
Program l Refreshment Risk Management
Career Track:
l BSM Independen Commissioner l DPbS
Director of Bank Indonesia l Director of
Finance of PT Mekar Prana.
Indonesian Citizen. Born in Bandung,
13 January 1958. A 1981 graduate of
Bogor’s Institute of Agriculture. Occupy as
Commissioners since 19 June 2008.
Training attended:
l Credit Analysis l Asset and Liabilities
l Investment Management l Advance
Financial Analysis l Quality Service Delivery
l Risk Management Certification -1 l Credit
Assessment l Integrated Economic & Risk
Analysis on Downstream Oil & Gas industry
l Financial Report Analysis III l Negotiation
Skill l SOS Implementation of Basel II &
ERM.l Operation Risk Management l Credit
Assessment l Leaders Forum l Workshop
on Insurance & Shipping Cost l Workshop
on Advertisy Quotient l Commercial Banking
Assessment l Workshop on Coaching for
Leadership l Leadership and Decision
Making
Indonesian Citizen. Born in Sukoharjo, 12
May 1964, A graduate of Sebelas Maret State
University and Post Graduate of Padjajaran
University. Occupy as Commissioners since
19 June 2008.
Training attended:
l Credit course l Venture Capital
Seminar l Loan Syndication Workshop l
Managerial Skill Education l Training on
Debt. Restructuring and Loan SYN l Credit
Training for Lending l General Insurance
Training on Collateral l Marketing Analysis,
Strategy & MPD l Risk Management
Certification -1 l Workshop on Credit
Settlement Optimizing l Risk Management
Certification -2 l Risk Management in
Banking l Leaders Forum l MRB Forum
Leaders
Career Track:
l Member of Board of Commissioners PT
Career Track:
l Member – Board of Commissioners of PT
Bank Syariah Mandiri l Commercial Banking
Center Manager PT Bank Mandiri (Persero)
Tbk. l Operations Manager PT Bank Mandiri
(Persero) Tbk. l Corporate Financing
Division Head PT Bank Syariah Mandiri l
Deputy Head of PT Bank Exim - Kebayoran
Branch l Medium Credit Department Head
– Bandung Lapangan Raya PT Bank Exim l
Chief Officer of Plantation Sub-Bureau - PT
Bank Exim
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Bank Syariah Mandiri l Group Head Credit
Recovery II PT Bank Mandiri (Persero)
Tbk. l Dept. Head Loan Collection I PT
Bank Mandiri (Persero) Tbk. l Dept. Head
Loan Disbursement PT Bank Mandiri
(Persero) Tbk. l Dep. Head Consumer Loan
Disbursement PT Bank Mandiri (Persero)
Tbk. l Credit Operation & Control Loan
Operations Development PT Bank Mandiri
(Persero) Tbk. l Group Head - Credit
Operation & Control Credit Administration PT
Bank Mandiri (Persero) Tbk.
57
company
profile
sharia
supervisory
board
58
M. Syafii Antonio
Komaruddin Hidayat
Mohamad Hidayat
Member
Chairman
Member
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Prof. Dr. Komaruddin Hidayat, MA
Dr. M. Syafii Antonio, M.Ec.
Drs. H. Mohamad Hidayat, MBA, MH.
Chairman
Member
Member
Indonesian Citizen, born in Magelang, 18
October 1953. Occupy as Sharia Supervisory
Board since 28 June 2011.
Indonesian citizen , born in Sukabumi, 12
May 1967. Occupy as Sharia Supervisory
Board since 3 July 2001.
Indonesian citizen, born in Jakarta, 3 May
1968. Occupy as Sharia Supervisory Board
since 3 July 2001.
Educational Background:
Educational Background:
A 2004 PhD on Micro Finance from University
of Melbourne Australia. A 1992 Master
of Economics from International Islamic
University (IIU), Malaysia.
Educational Background:
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:
l Member of Sharia Supervisory Board – PT
Bank Syariah Mandiri. l Sharia Banking
Development Expert Committee of Bank
Indonesia. l Sharia National Board, MUI. l
Lecturer of Tazkia
Career Track:
l Member of Sharia Supervisory Board - PT
Bank Syariah Mandiri. l Member of National
Sharia Board, MUI. l Lecturer – Master’s
Program PSTTI University of Indonesia. l
Lecturer – Master’s Program IEF Trisaksi
University
l l A 1981 graduate of Ushuludin Faculty of
State Islamic Institute Syarif Hidayatullah.
l Post Graduate and PhD in Philosophy of
Middle East Technical University (METU),
Turkey in 1995. l Achieving Doctoral Degree
in Research Program from McGill University,
Canada in 1995 and Hartfort Seminary
Cennecticut, USA in 1997.
Career Track:
l He is of one an influenced muslim
intellectual in Indonesia and productive in
writing scientific work.
l Besides the Chairman of Sharia
Supervisory Board, he is also Rector of State
Islamic Institute (IAIN) Jakarta.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
59
company
profile
board of directors
profile
60
Achmad Syamsudin
Zainal Fanani
Hanawijaya
Director
Director
Director
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Yuslam Fauzi
Amran Nasution
Sugiharto
President Director
Director
Director
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
61
company
profile
Yuslam Fauzi
Sugiharto
Zainal Fanani
President Director
Director
Director
Indonesian citizen. Born in Jakarta,
28 August 1959. A 1986 graduate
of Economics Faculty – University
of Indonesia. A 1992 MBA (Finance/
Investment Banking) - Arizona State
University, USA. Accomplishing doctorate
program at University of Indonesia.
Assuming Director position since 22 June
2005.
Training attended:
l Guest speaker on economics and Sharia
banking for seminars, symposium and
workshops since 1999 l Correspondent
Banking in American Express Bank, New
York l Pricing Methodology l Capital
Market Instruments in Asia l Valuation,
Pricing & Using Capital Market Instruments
l Corporate Finance Course l Chartered
Financial Analyst Review l Global Custody
& Portfolio Administration l Advanced
Project Finance & Financial Modeling l
Sharia Banking & Supervisory Aspect
l Risk Management Certification l 3rd
Annual Asian Islamic Banking & Finance
Summit l Middle Eastern Investor Forum
for Indonesia l Bank Indonesia Annual
International Seminar.
Career Track:
l President Director of PT Bank
Syariah Mandiri l Regional Manager IX
Banjarmasin Bank Mandiri l Compliance
and Risk Management Director Bank
Syariah Mandiri l Medium Credit
Department Head - Bank Bumi Daya.
62
Indonesian citizen.Born in Kediri, 19
November 1960.A 1985 graduate of
Jember State Universityand a 2003 post
graduate of Jakarta Muhammadiyah
University. Now completing doctoral
program at 17th August University
Surabaya. Assuming Director position
since 19 June 2008.
Indonesian citizen. Born in Ngawi, 24
October 1964. A 1989 graduate of Civil
Engineering Faculty Department of
Transportation Institute of Technology
10 November Surabaya (ITS). Assuming
Director position since 19 June 2007.
Training attended:
l Credit Analysis Training l Core Credit
Training l Development of Management
Skills Training l Selling International
Banking Products & Services l Spirit
Risk Management l Targeted Selection
Training l 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.
Training attended:
l Risk Management Certification BSMR
l Conference on Islamic Economy,
Middle East Global Advisors (MEGA) in
Bahrain l Emotional Spiritual Quotient
Executive Program, ESQ Training l
Balanced Scorecard World class Perform,
The Jakarta Consulting Group l Good
Corporate Governance, Risk Management
& Compliance l Basic course in Sharia
banking Tazkia Institut- Bank Susila Bakti
l Credit Course, Bank Dagang Negara
l Branch Head Course Batch 106, IBI l
Credit Management Course Batch XII, IBI.
Career Track:
l Board of Directors Member - PT Bank
Syariah Mandiri l Networks Division Head
PT Bank Syariah Mandiri l Regional
Manager of East Java, Bali and Mataram
PT Bank Syariah Mandiri l Regional
Manager of Central Java PT Bank
Muamalat Indonesia l Coordinator of
Corporate Business Restructure Financing
Unit PT Bank Muamalat Indonesia l
Jakarta Fatmawati Branch Manager - PT
Bank Muamalat Indonesia l Head of
Commercial Financing di Surabaya PT
Bank Muamalat Indonesia.
Career Track:
l Board of Directors Member - PT Bank
SyariahMandiri l Planning, Development
and PerformanceManagement Division
Head PT Bank Syariah Mandiri l Relation
Manager Retail I, Marketing & Branch
Management Division Head PT Bank
Syariah Mandiri l Surabaya Branch Head
PT Bank Syariah Mandiri l Kalimalang
Sub-Branch Head, Bank Susila Bakti l
Rawamangun Sub- Branch Operation
Head, Bank Susila Bakti l Staff of Land
Transportation Research & Development
Agency – Ministry of Communications.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Achmad Syamsudin
Hanawijaya
Amran Nasution
Director
Director
Director
Indonesian Citizen, born in Jakarta 27
July 1965. A 1989 A graduate Agriculture
Faculty of Bogor Agriculture Institute. A
1998 graduate of International University of
Japan, Nigata, Japan. Assuming Director
position since 29 June 2010.
Training attended:
l Optimizing Company Value Through
BCM & ERM l Implementation
of Wharehouse Receipt and Risk
Management l Transformational
Leadership for Within l Internalisasi
Culture (Change AgentInternational Forum
ICC l Advanced Leadership Program
(International Diploma) l Euromoney
Risk Mg. Master Series l Small Medium
Enterprise Financing l Credit Portfolio
Risk Management l Marketing Analysis,
Strategic Marketing &Product Development
l Selling Commercial & Corporate l Bank
Services n CreditRisk Analysis Training
n Credit Risk Masterclass l International
Trade Finance n Credit &Operational Risk.
Career Track:
l Regional Risk Management III & V,
Bank Mandiri l Dept. Head, Commercial
Risk Mgt Group, Bank Mandiri l Dept.
Head, Retail Credit Risk Mgt. Group,
Bank Mandiri l Group Head CRM Retail,
Bank Mandiri l Head of Team, KP. Credit
Supervision Section , BDN
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Indonesian citizen.Born in Jakarta, 3
December 1963.A graduate of Agrobusiness Department – Agriculture Faculty
of Bogor Agriculture Institute, and a
Magister of Management from Prasetya
Mulya Institute of Management (Jakarta,
1999). Assuming Director position 22 June
2005.
Training attended:
l Career Development - Bank Dagang
Negara (BDN) l Agro-business Credit
Analyst Training, IPB l Advanced
Leadership Course LPPI l Effective
Cash Flow Management l Corporate
Valuation Modeling – Euromoney Training
l Executive Workshop on Certified
Islamic Financial Analyst (CIFA) l Selling
Commercial & Corporate Bank Services
Course l Leadership Course INSEADMandiri, USAID University l Internship
Program USA l Executive Program
Risk Management Certification l BSMR
Program, Bank Indonesia.
Career Track:
l Board of Directors Member PT Bank
Syariah Mandiri l Hub Manager Jakarta
Fatmawati PT Bank Mandiri (Persero) Tbk
l Departemen Head Front End Collection
PT Bank Mandiri (Persero) Tbk l Group
Head Credit Recovery PT Bank Mandiri
(Persero) Tbk l Medium Scale Business
Credit Analyst Bank Dagang Negara.
Indonesian citizen. Born in Jakarta, 1
December 1965. A 1989 graduate of
Management Department – Economics
Faculty – Trisakti University Jakarta.
Assuming Director position 19 June 2007.
Training attended:
l Branch Head Course – Bank Indonesia
l Basic Course in Banking - Bank Susila
Bakti l Workshop on Sharia Banking
Management, Tazkia Institute l Good
Corporate Governance, Risk Management
& Compliance Management, Arthur
Andersen l Workshop on Proactive Risk
Management in Banking, Institute of
Finance & Banking, Sahid Jaya l Program
Certificate In Corporate Leadership TTE
Advanced Level VIII, Center of Corporate
Leadership l Islamic Commercial Law
In Banking & Finance l Islamic Finance
Forum l ESQ Batch 39, ESQ Centre
l Workshop on Risk Management &
Compliance, Novotel Coralia l Risk
Management Certification BSMR.
Career Track:
l Board of Directors Member PT Bank
Syariah Mandiri l Corporate Division Head
PT Bank Syariah Mandiri l Financing &
Investment Division Head PT Bank Syariah
Mandiri l Treasury and Fund Division
Head PT Bank Syariah Mandiri l Medium
and Retail Financing Division Head PT
Bank Syariah Mandiri l Bandung Main
Branch Head Bank Susila Bakti l Account
Officer Bank Susila Bakti Bandung.
63
company
profile
shareholder
information
Share Ownership Structure
In accordance with the official certificate No. 42, dated 29
December 2011, Bank Mandiri as the Shareholder has added
more paid-in capital for Rp300,000,000,000.00, so that
the paid in capital increased to Rp1,158,243,565,000. The
structure of BSM share owner is as follows:
The Structure of BSM Share Owner 2011
Shareholder Amount in Rp Percentage PT Bank Mandiri (Persero) Tbk 1.158.243.560.000 99,9999996% PT Mandiri Sekuritas Rp 5.000
Shares
231.648.712
0,0000004%
1
Table of Share Ownership Period of 2009-2011
Year Share Ownership
2009
1. PT Bank Mandiri (Persero) Tbk. Owned 99,999999% shares of
Bank Syariah Mandiri, or 131.648.712 shares.
2. PT Mandiri Sekuritas owned 0,000001% shares of Bank
­Syariah Mandiri, or 1 share.
2010
1. PT Bannk Mandiri (Persero) Tbk. Owned 99,999999% shares of
Bank Syariah Mandiri, or 171.648.712 shares.
2. PT Mandiri Sekuritas owned 0,000001% shares of Bank
­Syariah Mandiri, or 1 share.
2011
1. PT Bank Mandiri (Persero) Tbk. Owns 99,99999942% shares of
Bank Syariah Mandiri, or 231.648.712 shares.
2. PT Mandiri Sekuritas owned 0,00000058% shares of Bank
Syariah Mandiri, or 1 share.
Shareholder 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.
64
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%).
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
In 2011, Bank Mandiri as Shareholder
added paid in capital to
Bank Syariah Mandiri.
2. PT Mandiri Sekuritas
Subsidiary company of PT Bank Mandiri (Persero) Tbk,
operational is 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.
Due to Bank Syariah Mandiri has not become public
listed company yet, public, directors as well as Board of
Commissioners of PT Bank Syariah Mandiri do not have
share ownership of Bank Syariah Mandiri
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
65
company
profile
profile of subsidiary
and affiliated ­
companies
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);
Established since 2 August 1999. BMEL is operational
in banking, founded in purpose to take over Bank Exim
London Branch business activities.
b. PT Usaha Gedung Bank Dagang Negara
The company is operational in management and leasing
(property) and has been operated since 29 October 1971.
c. PT Bumi Daya Plaza
The company is operational in management and leasing
(property) and has been operated since 22 December
1978.
d. PT Bank Sinar Harapan Bali (BSHB)
Company is operational in banking and has been operated
since 3 November 1992.
e. PT AXA Mandiri Financial Services
The company is operational in life insurance joint venture
between Bank Mandiri and AXA operated since December
2003.
f. PT Mandiri Manajemen Investasi (Mandiri Investasi)
The company is a sunsidiary of PT Mandiri Sekuritas and
PT Bank Mandiri (Persero) Tbk. operated since December
2004.
g. PT Mandiri Tunas Finance
The company is a financial institution foucused on vehicle
financing, founded in 1989 and was acquired by Bank
Mandiri in February 2009.
h. PT Mandiri AXA General Insurance
The company is operational in general insurance, joint
venture between Bank Mandiri and AXA.
66
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
PT Bank Syariah Mandiri has no subsidiary
company, but has a number of affiliated
companies.
Share Listing Chronology
PT bank Syariah Mandiri is limited liability company that does
not sell its shares to the public so that there is no information
about share listing chronology and other kinds of corporate
activities that cause the change of a number of shares.
Chronology Other Stock
Listing
PT bank Syariah Mandiri is a limited liability company that
does not sell its shares to public so that there is no information
about chronological of other stocks listing and other kinds
of corporate activities that cause the change of a number of
stocks.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
67
company
profile
professional
institution
supporting
company
Name and Notary Address, Legal
Consultant and Public Accountant
Office
Bank has appointed and assigned notaries and legal
consultants to assist legal settlement concerning with bank
business process:
a. Notaries at the Head Office
 Notary: Badarusyamsi, SH, MKn.
Address: Komplek Ruko Mutiara Faza Blok RD/4 Jl.
Raya Condet No. 27, Jakarta 13760
 Notary: Efran Yuniarto, SH, MKn.
Address: Casablanca Mansion GF 10 Jl. Raya
Casablanca Kav.9, South Jakarta
 Notary: Sutjipto, SH.
Address: Menara Sudirman Lt. 18 Jl. Jend. Sudirman
Kav. 60, Jakarta 12190
b. Legal Consultant
 Legal Consultant: Hanafiah Ponggawa &Partners.
Address: Wisma 46, Lt.41 Jl. Jend. Sudirman Kav. 1,
Jakarta 10220
 Legal Consultant: Tasrif-Arfah-Panggabean
Advokat & Penasehat Hukum.
Address: Jl. Palbatu Raya No. 7, Jakarta 12870
c. Public Accountant Office
 Public Accountant Office: Purwantono, Suherman
& Surja.
Address: Indonesia Stock Exchange Building Tower 2,
Lt. 7 Jl. Jend. Sudirman Kav. 52- 53, Jakarta 12190.
d. Company Public Accountant Office
The selection of KAP is based on the KAP list in
Bank Indonesia. New KAP is selected for 2 (two)
years of service. The process of KAP selection
has been standardized by the issuance of SE No.
10/012?UMM, dated 24 December 2008 on Guidelines
for Implementation of Accountant Public Office. The
implemention of KAP selection in Bank has passed
through the selection by internal Accounting Division,
Audit Committee, Board of Directors, and Board of
Commissioners before proposed in RUPS.
BSM has appointed Public Accountant (SP) Drs. Hari
Purwantono and Public Accountant Office (KAP)
Purwantono, Suherman & Surja affiliated with international
auditor Ernst & Young (E&Y) with public accountant:
68
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
KAP has submitted management
letter on time and was able to work
professionally to fulfill BSM interest
complying with profession standard and BI
regulations.
Drs. Hari Purwantono Public Accountant License No.
98.1.0065), addressed at Gedung Indonesia Stock
Exchange Building Tower 2, 7th Floor Jl. Jend. Sudirman
Kav. 52-53, Jakarta 12190 to audit financial performance
book year 2011 with the audit fee for Rp.750.000.000.-.
The appointment of the AP and KAP was based on the PT
Bank Syariah Mandiri RUPS decision No. 18 Notary Harun
Kamil, SH. Dated 28 June 2011
submitted management letter on time and was able to
work professionally to meet BSM interest pursuant to the
profession standard and BI regulations. In the service fee
excluded direct expenses due to the audit assignment (out
of pocket expenses).
The work coverage of audit is Financial Report Audit,
Compliance Audit towards Internal Control, Audit towards
Laws and Financial Performance Audit.
In Public Accountant report contains opinion from
DPS that BUS comply with sharia principles. KAP has
Accountant and Public Accountant Office Period of 2009-2011
Periode
PAO
Address
Audit Fee
Drs. Hari Purwantono,
Accountan Public
License No. 98.1.0065
Purwantono, Suherman
& Surja, Izin KAP Nomor
KEP-122/KM.5/2006
Indonesia Stock Exchange
Building, Tower 2, 7th floor,
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia.
Rp 630.000.000
2010
Drs. Hari Purwantono,
Accountan Public
License No. 98.1.0065
Purwantono, Suherman
& Surja, Izin KAP Nomor
381/KM.I/2010
Indonesia Stock Exchange
Building, Tower 2, 7th floor,
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia.
Rp 690.000.000
Reasonable in all
material aspects
Perfromance Evaluation
Report
2011
Drs. Hari Purwantono,
Accountan Public
License No. 98.1.0065
Purwantono, Suherman
& Surja, Izin KAP Nomor
381/KM.I/2010
Indonesia Stock Exchange
Building, Tower 2, 7th floor,
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia.
Rp 770.000.000
Reasonable in all
material aspects
Perfromance Evaluation
Report
2009
Accountant
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Opinion
Reasonable in all
material aspects
Non Financial Audit Service
Perfromance Evaluation
Report
69
company
profile
executive
profile
Achmad Fauzi Head of Corporate Relations & LegalAffairs
Division (DKH). Born on 4 November 1965 in Kuningan
West Java . A 1989 graduate of Faculty of Economics –
Krishnadwipayana University and Magister in BusinessLaw
– Padjadjaran University – Bandung. Joining in BSM since
2005.
Agus Tri Widodo Head of Operational Division (DOP). Born
on 15 October 1959 in Solo. A 1980 graduate of Informatic
Management – STIMK Jakarta. A 1998 graduate of Magister
of Information Technology-University of Indonesia. Joining
BSM since 2010.
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.
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.
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.
Edy Suryadi Head of Financing Settlement Division (DPB).
Born on 6 February 1965 in Tanjung Raja. A 1989 graduate
of Faculty of Agriculture-Sriwijaya University and a 2005
graduate of Magister Managememnt- Atmajaya University.
Joining in BSM since 2007.
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.
Dewa Bagus Ivan Baruna Head of Mass Banking Desk
(DMB). Born on 29 September 1965 in Denpasar. A 1990
graduate of Faculty of Engineering – Ekasakti University.
Joining in BSM since 1999.
Firman Jatnika 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.
70
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Hadi Purnomo Head of Corporate Financing 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.
Putu Rahwidhiyasa Head of Pawnshop Desk (DPG). Bornon
13 September 1964 in Jakarta. A1986 graduate of Agriculture
Faculty– Bogor’s Institute of Agriculture anda 1995 Master of
Finance & Strategy- University of Illinois USA. Joining in BSM
since 2008.
Hadi Purnomo Head of Branch Corporate Financing Division
(DMR). 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.
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.
Helmi Huseno Head of Training Desk (DTR).Born on19
October 1962 in Tiku, Padang.. A 1996 graduate of Economics
Faculty– University of Indonesia and postgraduate education
at Economics Faculty of Graduate School of Management.
Joining in BSM since 2005.
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.
Jefry Pranaya Head of Pawn Desk (DPG). Born on 20
January 1972 in Medan. A 1999 graduate of Faculty of
Manchine Engineering, Bandung Institute of Tecchnology and
a 2007 graduate of Post graduate, Majoring in Middle East
Islamic Study – University of Indonesia. Joining in BSM since
2000
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.
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.
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 inBSM since
1999.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
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 Born on 14 January 1963 in Jember. A
1985 graduate of Agriculture Faculty of Nogors Institute of
Agriculture and a 2001 master degree holder from the same
Institute. Joining in BSM since 2007.
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.
Tutuy Guntara graduate of Forestry Faculty – Bogor’s
Institute of Agriculture. Joining in BSM since 1999.
Setyobudi Tariadi Special Staff to Board of Directors (SKD)
for International Banking. Born on 21 December 1958 in
Tanjung Pandan - Bangka Belitung. A 1984 graduate of
Engineering Faculty – Bandung Institute of Technology and a
1991 Magister of Management - University of Wisconsin USA.
Joining in BSM since 2003.
Zul Ikbal Head of Desk Alternate Channel (DAC). Born on 9
December 1964 in Bukit Tingg. A 1988 graduate of Economic
Faculty- Padjadjaran University. Joining in BSM since 2009.
71
company
profile
testimony
Gede Sumadi
(Customer)
“At first I came to the residential developer to buy a house
on credit. There, I was offered various credit programs from
several banks. One of them was from BSM. I was interested
in BSM because BSM could give credit that met my need and
the instalment is very low compared to that from other banks.
I am Hindu, but in BSM I can see that BSM can fulfil my need
that formerly I thought BSM was especially for Moslem but I
find that I can also get the service”.
Lim Mochammad Yusuf
(Customer)
“As far as I am concerned, BSM is a sharia bank that has
not been long founded in which the management differs from
conventional banks. In sharia bank uses profit sharing system
until now and it is more profitable than that in conventional
banks. I feel satisfied with good and hospitable services. This
is much different from my experience with other banks”.
Setijabudi W.
(Service Unit ‘Koperasi Sejahtera Surabaya’)
“I have become BSM customer since 2003. Alhamdulillah I
am satisfied with the financing service in BSM. I can see now
that BSM has grown fast. There are many oulets in Sidoarjo
and Surabaya. I hope that the growth of sharia bank is faster
especially Bank Syariah Mandiri”.
72
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The award from Indonesia World
Record Museum number 5193, is not
only Indonesian record but world record.
I am sure no other bank has ever
conducted book review in unison in
most places 124 places beside BSM.
Jayasuprana
(Owner of Indonesia Record Museum)
“I had a habit in 5192 times I handed over MURI Record
certificates, to always come on time, then I came only to
give and went back. In fact, in the 5193rd ceremony I did not
directly go back because this record is meeting a record held
by Bank that gives intelligence to the civilization.
The pillar of civilization/culture is economic pillar. The
only prophet who was a merchant is Prophet Muhammad.
Recently, I am tracing civilization on Islamic culture from
Jordan, Syrian, Turkey, Marocco, Uni Arab Emirates, and
China. I learnt Islam from Cak Nur, honestly I loss him after
he is passed away. I continue learning one of the greatest
civilizations in the world from BSM.
In 1998 when economic crisis stroke most of the world, I have
said that the root of the problem was the banking system and
at the time the banking system was still dominated by the non
sharia system. I said that the one that could save the world
form the crisis was only sharia banking system. The award
from Indonesia World Record Museum number 5193 is not
only Indonesian record but world record. I am sure no other
bank has ever conducted simultaneous book review in 124
places like BSM, which is the highest number of places.*
*) Delivered in MURI record certificate handing over in BSM on
11 November 2011
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
73
74
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
analysis and
elaboration on com-
pany performance by
the management
Bank Syariah Mandiri has shown
outstanding performance as the sharia
bank with the biggest market share in
Indonesia. BSM assets growth reached
49.84% and net profit growth 31.67%.
Rp48.67 trillion
The total assets of BSM in 2011 made up
33.46% of sharia banking market share.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
75
analysis &
management
discussion
In 2011, Bank Syariah Mandiri has shown outstanding
performance as the sharia bank with the biggest maket
share in Indonesia. BSM assets growth was up by 49.84% or
Rp16.17 trillion, while net profit grew by 31.67% or Rp132.55
billion from the previous year. This shows that BSM year-toyear performance improves consistently.
A. Review on Banking Business
The global economic recovery until the end of 2011 was still
covered with uncertainties in the global financial market and
global economic slowdown. Negative sentiment continued
affecting global financial market performance and restrained
the strengthening trend in global financial market. The
negative sentiment was triggered by the strong indication of
global economic slowdown such as:
1. The decrease of US debt rate;
2. Prolonged debt crisis recovery in Europe
3. The decrease of PIIGS (Portugal, Ireland, Italy, Greece
and Spain) countries debt rate;
4. Political crisis in MENA (Middle East and North Africa)
The Indonesian economy grew by 6.5% in 2011, or higher
than that of 2010 at 6.1%. The growth was supported by
investment performance that continuously increased, and
export performance that was still solid as well as macroeconomic improvement.
Inflation pressure in 2011 was relatively low. The annual
Consumer Price Index (CPI) inflation in 2011 reached 3.79%
or lower than that in 2010 at 6.96%. The decrease is mainly
caused by the correction from volatile food prices. Meanwhile
the inflation pressure from fundamental factors can be seen
in inflation core that shows an increase but remains under
control. BI predicts during 2012 CPI inflation will be around
4.5±1% in 2012.
The average rupiah exchange rate in 2011 had appreciation
at 3.87% from Rp9.080 per US dollar in 2010 to Rp8.742 level
in 2011. But, point-to-point rupiah in 2011 was down by 1.10%
from the last level in 2010 recorded at Rp9.010 per US dollar
76
to the level of Rp9,110 per US dollar in the end of 2011. The
weakening was relatively in line with the movement of regional
exchange rates that were mostly under correction, except
Japanese Yen. On the other side, Rupiah was under pressure,
but its volatility decreased. Stability policy taken by BI was
able to muffle volatility of rupiah movement in the end of 2011.
BI rate in the end of 2010 was at 6.50% level. In February
2011 it was raised to 6.75% until September 2011. Indonesia’s
relatively good and stable economic performance has
encouraged BI to set BI rate in the end of 2011 at 6.00% level.
BI considered that Rate at 6.00% was still in line with the
achievement of inflation target and is conducive to maintain
financial stability and to encourage bank intermediation, so
the supply side can adequately respond to demand side
acceleration.
I. National Banking
National Banking total asset in 2011 stood at Rp3,652 trillion,
grew Rp644 trillion or 21.40% to the asset position in 2010
at Rp 3.008 trillion. The growth of banking asset was better
than that in 2010 at 18.73%. The collection of third party fund
grew to Rp446 trillion or 19.07% from Rp2.339 trillion in 2010
to Rp2.785 trillion in 2011. The Third Party Fund growth in
December 2011 was higher than that of 2010 at 18,54%.
Meanwhile, credit channelled until 2011 was Rp2,2200 trillion,
grew by Rp434 trillion or 24.59%(yoy) from credit position in
2010 at Rp1,766 trillion. Based on the usage, credit for work
capital became the main support to the growth of credit in
2011. The growth of working capital credit decreased from
25.21% (yoy) in 2010 to 21.41% in 2011. On the other hand,
the growth of investment credit and consumer credit in 2011
were recorded respectively 33.21% and 24.21%.
By Sector, the growth of credit was supported by other
sectors. In 2011, the growth of other sectors reached 24.41%,
down from 37.17% in 2010. With the market share 34.04%
of the total credit, the sector continued supporting the total
credit growth by a contribution of 33.84% or Rp434 trillion,
regardless of slowdown in line with the consumer credit.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Meanwhile, other productive sectors especially industry and
trade, restaurant and hotel that gave contribution 15.93% and
15.15% of the total credit growth in 2011 at Rp434 trillion, or
higher than that in 2010.
Generally banking performance was relatively good. Main
banking indicators such as Non Performing Loan (NPL),
Net Interest Margin (NIM), and Return on Asset (ROA) also
showed positive growth. NPL gross decreased from 2.56%
in 2010 to 2.17% in 2011, while Return On Asset (ROA)
and Net Interest Margin (NIM) were relatively stable around
3.03% and 5.91%. National banking Funding Ratio (CAR) as
of December 2011 reached 16.05% lower than the previous
month’s 17.18%.
same period in 2010 that was 45.42%. The development of
sharia banking financing in 2011increased by Rp34.48 trillion
or 50.57%, from Rp68.18 trillion in 2010 to Rp102.66 trillion in
2011. Sharia banking market share to conventional bank was
4.67% in 2011. Meanwhile, Non Performing Finance (NPF)
ratio was better from 3.02% in 2010 to 2.52% in 2011.
III. Sharia Banking Business
There was 1 (one) new Sharia Business Unit in 2011 but no
new Sharia Commercial Bank was founded, so the sharia
banking industry consists of 11 sharia commercial banks, 24
sharia business units and 155 rural sharia banks.
II. Sharia Banking
Until 2011, the number of banks doing business based
on sharia principles reached 189, consisting of 11 Sharia
Commercial Banks (BUS), 24 Sharia Business Units (UUS),
and 155 Sharia Rural Banks (BPRS). In line with this
development, sharia banking offices network reached 2,066
and 1,277 Office Channelling (OC) units.
Sharia banking asset grew Rp37.95 trillion in 2011 or grew by
49.17% from Rp97.52 trillion in 2010 to Rp145.47 trillion in
2011. With this asset growth the sharia banking market share
in the national banking asset increased from 3.24% in 2010 to
3.98% in 2011.
Sharia banking Third Party Fund in 2011 increased by 51.79%
or Rp39.38 trillion from Rp76.04 trillion in the end of 2010 to
RpRp115.42 trillion in 2011. Likewise, its growth in 2011 was
51.79% or higher than that in 2010 at 45.47%. Sharia banking
Third Party Fund market share in 2011 was 4.14%.
From the growth of fund channelling, the growth of sharia
banking financing in 2011 was 50.56% higher than that at the
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
27
26
25
23
24
20
19
15
11
8
6
2
2
3
3
3
3
5
11
6
200220032004200520062007200820092010 2011
Sharia Commercial Bank
Sharia Business Unit
IV. Asset Market Share
In the middle of the development of sharia banking industry
that grew by Rp47.95 trillion or 49.17% from Rp57.52 trillion
in 2010 to Rp145.47 trillion in 2011, BSM became the market
leader for sharia banking industry. The total asset as of 31
December 2011 BSM held 33.46% of sharia banking market
share or up by 0.15% from the market share domination in
2010 at 33.31%.
77
analysis &
management
discussion
The Growth of Market Share Asset
The Growth of Third Party Fund Market Share
50.00%
250,000
45.00%
200,000
35.8%
35.3%
34.4%
40.00%
33.3%
33.46%
33.31%
150,000
50.00%
250,000
200,000
39.76%
39.65%
40.18%
45.00%
36.67%
38.14%
36.93%
35.00%
30.00%
35.00%
150,000
30.00%
25.00%
100,000
20.00%
25.00%
100,000
20.00%
15.00%
50,000
10.00%
15.00%
50,000
10.00%
5.00%
0
0.00%
2006 2007200820092010 2011
BSM
Sharia Market Share
40.00%
5.00%
0
0.00%
2006 20072008 200920102011
Sharia Market Share
During 2011 BSM asset increased 49.84% or Rp16.19 trillion
from Rp32.48 trillion in 2010 to Rp48.67 trillion in 2011,
meaning that BSM contributed 33.76% to the growth of sharia
banking industry in 2011.
BSM
Sharia Market Share
Sharia Market Share
Such a condition brought BSM third party fund market share in
sharia banking down from 38.14% in 2010 to 36.93% in 2011.
The decrease in BSM market share of third party fund was
was attributable to the decrease of BSM market share in time
deposit and demand deposit.
BSM and Sharia Banking Asset Market Share
(In Billion IDR)
Asset20102011 Growth
Growth (%)
BSM
32,48248,671
16,189
33.76%
Non BSM
65,037
96,796
31,759
66.24%
Sharia Banking
97,519 145,467
47,948
100.00%
Growth of Asset Market Share Comparison Period of
2010-2011
NON BSM
66.67%
2010
BSM
33,24%
NON BSM
66.24%
2011
BSM
33.76%
BSM and Sharia Banking DPK Market Share
(In Billion IDR)
DPK20102011 Growth
Growth (%)
BSM
28,99842,617
13,619
34.58%
Non BSM
47,038
72,798
25,760
65.42%
Sharia Banking
76,036 115,415
39,379
100.00%
As of December 2011 BSM third party fund increased by
Rp13.62 trillion, contributed 34.59% to the growth of Sharia
Banking third party fund at Rp39.38 trillion.
The Growth of DPK Market Share comparison period of
2010-2011
NON BSM
59.35%
DPK
2010
BSM
40.65%
NON BSM
65.42%
DPK
2011
BSM
34.58%
V. Third Party Fund (DPK) Market Share
In 2011, BSM third party fund increased by Rp13.62 trillion
or 46.97% from Rp29.00 trillion in 2010 to Rp42.62 trillion
in 2011. On the same period of time, third party fund of
sharia banking increased by 52.79% from Rp76.04 trillion to
Rp115.42 trillion.
78
a. Saving Market Share Growth
In the mean time BSM saving market share in sharia banking
increased from 43.08% in 2010 to 44.23% in 2011. BSM saving
increased by Rp4.55 trillion or 46.10% from Rp9.87 trillion in
2010 to Rp14.42 trillion in 2011. The growth of BSM saving
contributed 46.95% to the growth of sharia banking saving that
grew by Rp9.69 trillion.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM DPK until December 2011 increased
for Rp13.62 trillion contributed 34.59%
to the growth of Sharia Banking DPK
at Rp39.38 trillion.
BSM and Sharia Banking Saving Market
Share Growth
BSM and Sharia Banking of Time Deposit
Market Share Growth
(In Billion IDR)
(In Billion IDR)
DepositDec-10Dec-2011 Share
BSM
5,5268,415 31.48%
Non BSM
8,951
18,319
68.52%
Sharia Banking
14,477
26,734
100.00%
SavingDec-10Dec-2011 Share
BSM
2,7104,551 46.95%
Non BSM
3,723
5,143
53.05%
Sharia Banking
6,433
9,694
100.00%
Growth of Saving Market Share Comparison
period of 2010-2011
Non BSM
57.94%
Des
2010
BSM
42.06%
Non BSM
53.05%
Des
2011
Growth of Time Deposit Market Share Comparison
period of 2010-2011
BSM
46.95%
Non BSM
61.83%
Des
2010
BSM
38.17%
Non BSM
68.52%
Des
2011
BSM
31.48%
b. Time Deposit Market Share Growth
c. Demand Deposit Market Share Growth
BSM Time Deposit grew by Rp8.42 trillion or 55.69% from
Rp15.11 trillion in 2010 to Rp23.53 trillion in 2011. The growth
of BSM Time Deposit contributed 31.50% of the growth of
Sharia Banking Time Deposit that reached Rp26.73 trillion.
As a result, BSM Time Deposit market share decreased from
34.29% in 2010 to 33.23% in 2011.
BSM Demand Deposit increased Rp654 billion from Rp4.015
billion in 2010 to Rp4.669 billion in 2011 or increased 16.29%.
The growth of BSM Demand Deposit contributed 22.17% from
the growth of Sharia Banking Demand Deposit at Rp2.950
billion. The condition caused BSM Demand Deposit market
share to sharia banking Demand Deposit decreased from
44.34% in 2010 to 38.89% in 2011.
Annual Report 2011 PT Bank Syariah Mandiri
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79
analysis &
management
discussion
BSM and Sharia Banking of Demand Deposit
Market Share Growth
BSM and Sharia Banking of Financing Market Share
(In Billion IDR)
(In Billion IDR)
Financing20102011 Growth
Growth (%)
BSM
23,96836,726
12,758
37.02%
Non BSM
44,213
65,925
21,712
62.98%
Sharia Banking
68,181 102,655
34,474
100.00%
GiroDec-10Dec-2011 Share
BSM
1,424654 22.17%
Non BSM
1,430
2,296
77.83%
Sharia Banking
2,854
2,950
100.00%
Growth of Demand Deposit Market Share Comparison
period of 2010-2011
Other
50.11%
Dec
2010
BSM
49.89%
Non BSM
77.83%
Des
2011
BSM financing until December 2011 that grew by Rp12.76
trillion contributed 37.02% to the growth of Sharia Banking
Financing at Rp34.47 trillion.
Financing Market Share Comparison
period of 2010-2011
BSM
22.17%
Non BSM
62.88%
2010
BSM
37.12%
Non BSM
62.98%
2011
BSM
37.02%
VI. Financing Market share
During 2011, BSM financing grew 53by23% or Rp12.76 trillion
from Rp23.97 trillion in 2010 to Rp36.73 trillion in 2011. At
the same time, sharia banking financing grew by 50.56%
from Rp68.18 trillion in 2010 to Rp102.66 trillion in 2011. The
growth of BSM financing that exceeded the growth of sharia
banking financing has driven up BSM financing market share
in sharia banking financing from 35.16% in 2010 to 35.78% in
2011
Financing Market Share Growth
50.00%
250,000
45.00%
200,000
36.27%
36.95%
34.76%
34.26%
35.15%
35.78%
150,000
40.00%
35.00%
30.00%
B.Operation Review by Business Segment
BSM is always committed to fulfilling customer’s expectations
for in sharia banking business. In 2011, BSM offered
innovative products that keep on developing. With such
products as:
1. Third party funding (saving, time deposit, and demand
deposit), consumer fund and low cost fund.
2. Financing by scheme, financing by economy sector and
financing by segment.
3. Service products covering product services, operation
services and investment services.
4. Services including Syariah Mandiri Priority.
25.00%
100,000
20.00%
15.00%
50,000
10.00%
5.00%
0
0.00%
2006 2007200820092010 2011
BSM
80
Sharia Market Share
Sharia Market Share
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM always commits to fulfill customer’s
hope in sharia banking business. In 2011,
BSM offered innovative products
that keep on developing.
Explanation on BSM products:
Amount of Third Party Fund
Customers
I.Funding
Composition of Third Party Fund (DPK)
The total of third party fund collection until the end of
December 2011 reached Rp42.62 trillion, grew by Rp13.62
trillion or 46.97% from the total third party fund in 2010 at
Rp29.00 trillion.
Third Party Fund Period of 2006-2011
45
Posisi Rp Triliun
42.62
40
35
29.00
30
Description20102011
CustomersCustomers
Giro
32,53740,284
Saving
2,108,9402,978,110
Deposit
68,56581,294
Total
2,210,0423,009,688
The significant growth in third party fund was followed with the
growth of saving accounts that reached 889,646 accounts or
up by 40.25% from 2,210,042 accounts in 2010 to 3,099,688
accounts in the end of 2011. The monthly average of third
party fund account growth in 2011 was 74,198 accounts.
Fund Composition
25
19.34
20
14.90
15
10
8.22
11.11
In 2011, consumer funding portion was down to 53.94% from
the previous year at 57.03%. Meanwhile the industrial funding
increased to 46.06% compared to the previous year’s 42.97%.
0
200620072008200920102011
Third Party Fund
(In Billion IDR)
Description
20062007 2008200920102011Growth 2010-2011
Nominal%
a. Saving 2,6683,872 5,2847,1639,873
14,4244,551 46.10
b. Giro 2,0541,846 1,8122,5914,0154,669 654 16.29
c. Deposit 3,4985,388 7,8029,58415,110
23,5258,415 55.69
Total 8,22011,106 14,89819,33828,99842,61813,620 46.97
Annual Report 2011 PT Bank Syariah Mandiri
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81
analysis &
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discussion
The rise in institutional funding and deposit accounts is
attributable to the BSM efforts to back up fund source in
support of cushioning to the fast-growth of financing.
Third Party Fund (DPK)
a.Saving
Fund Composition Period of 2010-2011
(In Billion IDR)
Description
Fund Composition Konsumer
Institution
Year
Growth
2010Share2011 ShareNominal %
28,998 100.00% 42,618 100.00% 13,620 46.97%
16,539 57.03% 22,990 53.94% 6,45139.00%
12,459 42.97% 19,628 46.06% 7,16957.54%
Fund Composition
51.40%
48.60%
61.59%
57.29%
55.10%
44.90%
57.03%
53.94%
46.06%
42.71%
42.97%
38.41%
200620072008200920102011
Consumer
Institution
Low Cost Fund
Until the end of 2011 the achievement of public fund
collection in saving reached Rp14.42 trillion, increased by
46.10% or Rp4.55 trillion from Rp9.87 trillion in 2010. BSM
Saving Accounts consist of Tabungan BSM, Tabungan
Berencana BSM, Tabungan Simpatik BSM, Tabungan
Mabrur BSM, Tabungan BSM Dollar, Tabungan Qurban
BSM, Tabungan BSM Investa Cendikia dan Tabunganku.
The highest growth was contributed by Tabungan BSM
that reached Rp3.58 trillion. The number of saving
accounts as of the end of 2011 reached 2,978,100
accounts increased as many as 869.170 accounts or
41.21% campared to that in 2010 at 2,108,940 accounts.
Saving growth in 2011 reached 46.10% compared to
that in 2010 that reached Rp9.87 trillion. The increase in
saving growth in 2011 was supported by several programs
created by Mass Banking Division such as Sahabat
program that contributed Rp193 billion to saving, Fantasi
program that contributed Rp223 billion to saving and Cash
Management program that contributed Rp305 billion to
saving.
Tabungan BSM contributed 46.95% to sharia banking
saving growth that reached Rp9.69 trillion.
BSM Saving Products in include:
Low cost fund growth decreased to 44.80% compared to
previous year at 47.89%, while funding for deposit accounts
increased to 55.20% compared to the previous year at
52.11%.
Low Cost Fund
1) Tabungan BSM (Mudharabah)
As of December 2011 Tabungan BSM collected
Rp11,79 trillion. This Mudharabah saving growth by
Rp3.58 trillion. BSM programs of Gelegar Hadiah,
Gathering Sahabat, and other programs altogether
triggered the increase of BSM saving.
57.44%
51.49%
42.56%
52.37%
48.51% 47.63%
50.44%
49.56%
52.11%
47.89%
55.20%
Total number of Tabungan BSM accounts as
of December 2011 reached 1,830,982 accounts.
Tabungan BSM NoA increased by 400,954 accounts
44.80%
2006 20072008200920102011
Low Cost Fund
82
Deposit
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Tabungan BSM contributed 46.95%
towards sharia banking saving growth
that grew Rp9.69 trillion.
holders reached 574,778 with the growth by
178,558 accounts or 45.07% compared to that
in 2010 with 396,220 accounts.
Type of Saving Pruducts
(In Million IDR)
No
Type of Product
1 Tabungan Berencana BSM
2 Tabungan Investa
3Tabunganku
4 Tabungan BSM Simpatik
5 Tabungan Mabrur
6 Tabungan Mudharabah
Total
20102011
Growth 2011
% Growth 2011
96,251
125,515
29,264
30.40%
160,172
196,340
36,168
22.58%
81,219 197,246
116,027
142.86%
163,324
315,094
151,770
92.93%
1,166,790 1,800,534
633,744
54.32%
8,205,536 11,789,098
3,583,562
43.67%
9,873,292 14,423,827
4,552,908
46.10%
or 28% compared to the previous year’s 1.430.028
accounts.
The Amount of Saving Products Account
(In Million IDR)
No
1
2
3
4
5
6
Type of Product
20102011
Growth 2011 % Growth 2011
Tabungan Berencana BSM
32,901 38,770 5,869 17.84%
Tabungan Investa
42,511 48,058 5,547 13.05%
Tabunganku
66,308 163,125 96,817 146.01%
Tabungan BSM Simpatik
139,925 320,770 180,845 129.24%
Tabungan Mabrur
396,220 574,778 178,558 45.07%
Tabungan BSM (Mudharabah) 1,430,028 1,830,982 400,954 28.04%
Total
2,108,970 2,978,149 869,179 41.21%
3) BSM Tabungan Berencana
During 2011, Tabungan Berencana
performance reached Rp125.52 billion.
Tabungan Berencana Growth in 2011 reached
Rp29.26 billion or 30.40%, compared to that in
2010 that reached Rp96.25 billion. The amout
of Tabungan Berencana NoA reached 38,770
accounts, grew for 5,869 accounts compared
to that in 2010 that reached 32.901 accounts.
4) BSM Tabungan Investasi Cendikia
Bundled product marketing campaign of
Tabungan Investasi Cendekia and Tabungan
BSM in 2011 succeeded to boost the
performance of Tabungan Investasi Cendekia
in 2011 that reached Rp 196.34 billion with the
growth of Rp36.17 billion or 22.58% compared
to that in 2010 that reached Rp96.25 billion.
Tabungan Investasi Cendekia has brought
in 48,058 account holders with the growth of
5,547 accounts or 13.05% to the position in
2010 that reached 42,511 accounts.
2) BSM Tabungan Mabrur
The Tabungan Mabrur saving reached a total of
Rp1.80 trillion in 2011 with the growth by Rp634 billion
or 54.32% to the 2010 position that reached Rp1.17
trillion. The number of Tabungan Mabrur NoA account
Annual Report 2011 PT Bank Syariah Mandiri
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83
analysis &
management
discussion
5) BSM Tabungan Simpatik
In 2011 Tabungan Simpatik performance reached
Rp315.09 billion with the growth of Rp151.77 billion or
92.93% from Rp163.32 billion in 2010 to Rp315.09
billion in 2011.
Cooperation with education institutions positively
influenced the Tabungan Simpatik performance. Total
account holders of Tabungan Simpatik NoA as of
December 2011 reached 320,770 with the growth of
180,845 accounts or 129.24% higher than that in 2010.
6) BSM TabunganKu
The TabunganKu saving performance in 2011
reached Rp197.25 billion with the remarkable growth
of Rp116.03 billion or 142.86% to the 2010 position
that reached only Rp81.22 billion. Cooperation with
education institutions has improved TabunganKu
performance. The number of TabunganKu NoA
account holders as the end of December 2011
reached 162.125 with the growth of 96,817 accounts
or 146.01% higher than that of 2010 with 66,308
accounts.
b. Time Deposit
Until the year-end of 2011, public funding raised through
time deposit account reached Rp23.53 trillion with the
growth of 55.69% or Rp8.42 trillion compared to the
previous year’s Rp15.11 trillion. BSM Time Deposit
accounts use two currencies of Rupiah and Dollar. The
growth of BSM deposit was supported by the improving
level of customer trust and the increase of institutional
funding in the end of the year. The growth was also
supported by MGMP program that contributed Rp651
billion and special nisbah (ratio) program that gives
competitive profit sharing for customer.
accounts reached 81,340 with the growth of 12,761
accounts or 18.61% higher than that in 2010 with 68,565
accounts.
The Amount of Time Deposit Products Account
(In Million IDR)
No
Type of Product
1 Deposito Rupiah (IDR)
2 Deposito Valas (USD)
Total
20102011
% Growth
65,481 78,122 19.30%
3,098 3,218 3.87%
68,579 81,340 18.61%
BSM Time Deposit contributed 31.48% to the sharia
banking deposit growth that reached Rp26.73 trillion.
Explanation on BSM Deposit products:
1) BSM Deposito Rupiah (Local Currency Deposit)
During 2011, BSM Deposito Rupiah performance
collected Rp 22.29 trillion with the growth of Rp7.59
trillion or 51.65% from the 2010 position at Rp14.07
trillion.
2) BSM Deposito Valas (Foreign Currency Deposit)
During 2011, BSM deposito Valas performance
reached Rp1.23 trilllion. Deposito valas growth in 2011
reached Rp821 billion or 200.38% to the position in
2010 that reached Rp409.88 billion. The amount of
BSM Deposito Valas NoA until the end of December
2011 reached 3,218 accounts, increased for 120
accounts or 3.87% compared to that in 2010 that
reached 3,098 accounts.
As of 31 December 2011, the number of Time Deposit
Type of Time Deposit Products
(In Million IDR)
No
Type of Product
1 Deposito Rupiah (IDR)
2 Deposito Valas (USD)
Total
84
20102011
% Growth
14,700,523 22,293,536
51.65%
409,879 1,231,175
200.38%
15,110,402 23,524,712
55.69%
Annual Report 2011 PT Bank Syariah Mandiri
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c. Demand Deposit
As of the year-end of 2011 the public funding through
demand deposit account collected Rp4.67 trillion, with
the growth of Rp653.91 billion or 16.29% from the 2010
position at Rp4.02 trillion. BSM demand deposit products
consist of Giro BSM, Giro BSM Euro, Giro BSM Dollar and
Giro BSM Singapore Dollar.
The growth of Giro BSM shows the rising customer
business activities that dominated the growth of Giro Retail
by Rp753 biliion.
Types of Demand Deposite Products
(In Million IDR)
No
Type of Product
1 Giro Wadiah Yad Dhamanah
2 Giro Euro
3 Giro Dollar
4 Giro Singapore Dollar
Total
20102011
% Growth
3,050,938 3,830,517
25.55%
1,759
3,297
87.44%
961,127
833,901
-13.24%
1,391
1,409
1.29%
4,015,2154,669,124 16.29%
The number of Giro BSM accounts by the year-end of
2011 reached 41,795 or higher than the previous year’s
32,537 accounts.
Amount of Demand Deposite Product Account
No
Type of Product
20102011
% Growth
1 Giro Wadiah Yad Dhamanah (IDR)
26,551 33,892 27.65%
2 Giro Euro 24 25 4.17%
3 Giro Dollar (USD) 781 977 25.10%
4 Giro Singapore Dollar 51 59 15.69%
Total27,407 27,407 27.53%
Giro BSM contributed 22.17% to the sharia banking giro
growth that reached Rp2.95 trillion.
BSM Giro products consist of:
1) Giro BSM Wadiah Yad Dhamanah (IDR)
During 2011, Giro BSM Wadiah Yad Dhamanah
(IDR) performance reached Rp3.83 trillion. Giro IDR
growth in 2011 reached Rp779.58 billion or 25.55%
from the position in 2010 that reached Rp3.05 trillion.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The amount of Giro BSM accounts until the end of
December 2011 reached 33.892 accounts, with the
growth of 7,341 accounts or 27.65 % compared to that
in 2010 that reached 26,551 accounts.
2) Giro BSM Euro
In 2011, Giro BSM Euro performance reached Rp3.30
trillion, with the growth of Rp1.54 billion or 87.44%
higher than the 2010 position at Rp1.76 billion. The
number of Giro BSM Euro accounts until the end of
December 2011 reached 25 accounts, or 4.17% higher
than that in 2010 with 24 accounts.
3) Giro BSM Dollar (USD)
In 2011 Giro BSM USD reached Rp495 billion or down
by 13.24% from the previous year’s Rp 580 billion.
The number of Giro BSM USD accounts at the end of
December 2011 reached 977 with the growth of 196
accounts or 25.10 % higher than that in 2010 with 781
accounts.
4) Giro BSM Singapore Dollar
In 2011, Giro BSM Singapore Dollar performance
reached Rp1.41 billion with the growth of Rp18 million
or 1.29% from that in the previous year that reached
Rp1.39 billion. Meanwhile the amount of Giro BSM
Singapore Dollar accounts as of the end of December
2011 reached 59 accounts, with the growth of 8
accounts or 15.69% higher than that in 2010 with 51
accounts..
In effort to boost Third Party Fund performance In 2011,
BSM embarked on several programs to meet customer
expectations such as:
1. Cash Management
Cash Management is a program to help institutional
customers in fund management. Cash Management
offers such services as Pooling Fund, Multi Level
Accounts, Batch Transfer and Payroll. Other
cooperation schemes that can be carried out are
Co-branding, Multi Bank Payment and Multi Channel
85
analysis &
management
discussion
Payment. In 2011 a total of 1.138 customers joined in
the program, with fund contribution of Rp305 billion.
BSM Sahabat is a member-get-member program in
which the participants are encouraged to invite their
to be BSM customers. The program participant (the
referrer) receives incentive money based on the
volume of the fund from the referenced customers.
BSM Sahabat is also a promoted by word-of-mouth
marketing activities. In 2011 BSM Sahabat program
contributed Rp193 billion with the growth of Rp140
billion or 266% from last year’s Rp52 billion. This
program is applicable for all saving products, Giro and
Deposit.
2. BSM Mitra Kerja
BSM Mitra Kerja is a BSM community program in
cooperation with institutional partners. In 2011 BSM
Mitra Kerja program contributed Rp4.9 billion to
funding.
3. BSM Fantasi
BSM Fantasi is an instant gift program for everyone
opening a saving account including Tabungan BSM,
BSM Tabungan Simpatik, BSM TabunganKu and BSM
Giro. In 2011 BSM Fantasi program contributed Rp233
billion to funding, up by Rp180 billion or 424% from
from last year’s Rp42 billion.
4. BSM Giro Prima
BSM Giro Prima is a transaction fee dispensation
facility for BSM Giro customers with certain balance
average. BSM Giro Prima is especially aimed at
merchant communities who are quite sensitive to the
bank transaction fee. In 2011 BSM Fantasi contributed
Rp106 billion.
5. BSM Rejeki Sembako (BSM Instant Gift)
BSM Rejeki Sembako is a program that rewards
every Tabungan BSM saving account opening with a
package of nine basic commodities (Sembako).
6. Overseas Marketing
Marketing Luar Negeri (Overseas Marketing)
represents BSM effort to attract Indonesian Migrant
Workers (TKI) overseas to open BSM accounts,
especially in the country in which BSM has business
partners (remittance or SFE services).
86
7. Pilgrim Gathering with KBIH and PIHK
A series of gathering events with Hajj Pilgrimage
Service Groups (KBIH and PIHK) will have been
held by the year 2012 among 100 Branch Offices and
150 Sub-branch Offices, with priority gathering on
branches with the most customers intent on going hajj
and umrah pilgrimage. The cost for pilgrim gathering
will be covered by the DMB budget. Pilgrim gathering
program aims to achieve Tabungan Mabrur saving
growth target set at Rp1.2 trillion.
8. Program BSM You & Friends
BSM You & Friends program is a referral program
to acquire new customers of BSM Priority by mean
referral. Every BSM Priority customer that gives
reference or new BSM Priority customer on referral
that place fund minimum Rp250 million will receive a
voucher gift. During 2011 BSM You & Friends program
contributed fund for Rp651 billion increased Rp333
billion or 105% from Rp317 billion.
9. Direct Sales Force
Direct Sales Force program is a referral program to
acquire new retail customers by recruiting potential
employees as Sharia Funding Executives to collect
fund. In 2011, Direct Sales Force contributed fund of
Rp131 billion.
II.Financing
In 2011, BSM has channelled financing for all kind of business
segments for Rp36.73 trillion, increased Rp12.76 trillion or
grew 53.23% compared to the total financing at Rp23.97
trillion in 2010.
BSM Financing period of 2006-2011
(In Billion IDR)
Description200620072008 200920102011
Growth (%)
2010-2011
Financing
7,415 10,326 13,278 16,063 23,968 36,727 53.23
Annual Report 2011 PT Bank Syariah Mandiri
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The growth of BSM financing that exceeded the growth of
sharia banking financing encouraged the increase of BSM
financing market share towards sharia banking financing from
35.16% in 2010 to 35.78% in 2011.
Corporate and Non Corporate Financing Portion
Graphic of BSM Financing Period of 2006-2011
40
In Trillion IDR
66.62%
67.00%
60.00%
BSM financing products are divided into several divisions,
such as:
1. Financing by scheme such as: murabahah, mudharabah,
musyarakah financing and others.
2. Financing by economic sectors such as: agriculture,
mining, industry, electricity, gas, water, construction, trade,
transportation, communication, business service, social
service, etc.
3. Financing by segment such as: Corporate, commercial,
small micro business and consumer financing
74.56%
74.00%
61.45%
55.81%
44.19%
46.00%
56.70%
53.64%
53.00%
46.36%
43.30%
38.55%
39.00%
33.38%
32.00%
27.32%
25.00%
2006200720082009 20102011
Corporate
Non-Corporate
Main debtor portion financing for top 15 debtors decreased
from 9.53% to 7.45%, for 25 top debtors decreased from
13.35% to 10.59% and for top 50 debtors from 19.94% to
16.25 % in 2011
36.73
Main Debitor Portion
35
30
25
23.97
39.92%
20
33.96%
16.06
15
10
31.37%
13.28
7.42
10.33
26.36%
19.94%
23.34%
20.75%
0
2006 20072008 200920102011
Financing Product Portion
BSM is always committed to supporting the development of
small and medium industry sectors in 2011. Non corporate
financing (UMKM) increased to 74.56% compared to that in
2010 that reached 66.62%. Meanwhile corporate financing
portion decreased to 25.44% compared to the previous year
at 33.38%.
Annual Report 2011 PT Bank Syariah Mandiri
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18.19%
24.90%
16.79%
14.46%
16.10%
11.46%
16.25%
13.35%
10.59%
9.53%
7.45%
200620072008200920102011
15 Debitors
25 Debitors
50 Debitors
Financing Composition
1. Financing by Scheme
Financing portfolio as of the end of 2011 was dominated by
financing with murabahah scheme (buying-selling based
on margin) at Rp19.77 trillion or 53.84%, grew by 52.91%
compared to that in the year-end of 2010. Financing
composition with mudharabah and musyarakah scheme
(investment based on profit sharing) decreased from 17.69%
and 19.15% in the end of 2010 to 12.72% and 14.78%,
respectively, in the end of 2011.
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analysis &
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Financing by Scheme Period of 2010-2011
Per Segment Financing
(In Million IDR)
DescriptionYear
2010Share2011Share
Per Scheme Financing 23,968,469
100.00% 36,726,679
100.00%
Murabahah 12,681,133
52.91% 19,773,813
53.84%
Mudharabah
4,240,923 17.69%4,671,140 12.72%
Musyarakah
4,590,191 19.15%5,428,201 14.78%
Others
2,456,223 10.25%6,853,525 18.66%
2. Financing by Economic Sector
Financing portfolio increased by Rp12.76 trillion or
53.23% from Rp23.97 trillion in 2010 to Rp36.73 trillion
in 2011. Financing portion in trade service increased
from Rp7.04 trillion in 2010 to Rp7.84 trillion in 2011.
Meanwhile, financing composition in other sectors in
average decreased by less than 2%. Furthermore, the
mining sector increased by 0.02% and other sectors show
an increase by 15.25%
Financing by Economy Sector 2010-2011
(In Million IDR)
DescriptionYear
2010Share 2011Share
Per Economy Sector Financing 23,968,469 100.00%
36,726,679 100.00%
Agriculture 1,023,723
4.27%
1,330,609
3.62%
Mining
311,289 1.30% 484,5551.32%
Industry
1,216,132 5.07% 1,669,9654.55%
Electricity, Gas & Water
304,116
1.27%
338,607
0.92%
Contruction
2,455,38510.24% 3,064,580 8.43%
Trade
2,705,814 11.29% 3,866,27210.53%
Transportation & Communication 1,358,852
5.67%
1,249,741
3.40%
Trade Service
7,039,188 29.37%
7,839,274 21.34%
Social Service
740,718
3.09%
842,398
2.29%
Others
6,813,253 28.43% 16,040,67943.68%
3. Financing by Business Segment
Financing by business segment in 2011 reached Rp9.36
trillion for corporate financing with the portion 33.38%.
In 2011, Commercial financing reached Rp6.25 trillion
with the portion 17.00%, decreased from that in 2010
at 21.17%. Micro and small business financing in 2010
reached Rp5.13 trillion with the portion 13.94%, decreased
88
36.73 T
23.97 T
2010
2011
Financing by Business Segment Period of 2010-2011
(In Billion IDR)
Description
YearGrowth
2010
2011%
Per Segment Financing
23,968,469
36,782,762
53.23%
Corporation
7,999,6079,302,732 16.29%
Commercial (Middle)
5,073,128
6,254,763
23.29%
Micro and Small Business
4,082,481
5,128,505
25.62%
Consumer
6,813,25316,040,679 135.43%
from that in 2010 at 17.03%. Consumer financing in 2011
reached Rp16.04 trillion with the portion 43.61% increased
from to that in 2010 at 28.42%.
Explanation to Financing by business segment:
a. Corporate Financing
BSM’s corporate customer financing to expand business
or to increase work capital in important industrial
sectors with positive and interesting growth pursuant
to the acceptable risk represents BSM support to the
development of national sharia banking.
.
In 2011, BSM focused on financing especially for the
industrial such as: oil palm plantation and factory,
mining, coal, power plant, gas, and communication. The
channelling of the financing was conducted by maintaining
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BSM always committed to support the
development of small and medium
industry sectors in 2011. with financing
channeling portion in UMKM sector at
74.56% from the total financing.
prudential banking principle. In addition, corporate
financing channelling aims to serve corporate customers
with ever-growing financial needs.
Corporate financing is aimed at developing and integrating
business and work capital.
Special and Syndicated Financing
BSM proactively maintains sustainable communication
and more intensive visits to corporate customers in the
attempt to keep corporate financing sustainability that has
been running, so problems faced can be detected earlier
and settled appropriately.
Corporate Financing Performance
To support channelling of corporate financing, BSM channels
sound financing through sharia syndication and club deal,
and to establish professional agency that contribute to BSM
fee-based income growth. Through this financing syndication,
BSM expects to generate sharia banking financing syndication
and large-scale financing. In this case BSM puts priority on
prudent banking principle.
In 2011, BSM channelled corporate financing with the growth
at Rp1.36 trillion or 16.99%, from Rp8.00 trillion in 2010 to
Rp.9.36 trillion in 2011.
Corporate Financing
Syndicated Financing
3,851 M
9.36 T
8.00 T
647 M
2010
Annual Report 2011 PT Bank Syariah Mandiri
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2011
2010
2011
89
analysis &
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In 2011, BSM channelled syndicated financing with growth
of Rp 3.20 billion or 495.21% from Rp647 billion in 2010 to
Rp3.85 billion in 2011. Amid tight business competition, BSM
continued reaching for the the target.
In its relatively young age, the contribution that the bank has
rendered can not be considered as insignificant. Likewise, the
role of BSM in sharia banking world especially in syndication
financing is significant.
empower this segment, and it creates an opportunity to
increase financing portfolio in this segment.
Micro and Small Business Financing
b. Commercial Financing (Medium Size)
To support sharia banking growth acceleration and to meet
the public needs, BSM channels commercial financing
(medium size). Commercial financing has also contributed
positively to the growth of BSM financing in all businesses.
In 2011, BSM disbursed Micro Business financing
with the growth at Rp1.05 trillion or 25.62%, from
Rp4.08trillion in the end of 2010 to Rp5.13 trillion in the
end of 2011.
5.13 T
4.08 T
BSM channelled commercial financing during 2011 with
the growth of Rp1.18 trillion or 23.29% from Rp5.07 trillion
in the end of 2010 to Rp6.26 trillion in the end of 2011.
2010
Commercial Financing
2011
In 2011, BSM disbursed Micro Business financing
with the growth at Rp1.05 trillion or 25.62%, from
Rp4.08trillion in the end of 2010 to Rp5.13 trillion in the
end of 2011.
6.25 T
5.07 T
2010
Micro Business Financing
2011
971 M
525 M
c. Micro and Small Business Financing
1) Micro and Small Business Financing
In contribution to the economic growth of industrial
sectors and employment, BSM has commitment to assist
financing for micro and small businesses. Empowerment
of micro and small business is both a challenge and
opportunity for BSM to increase financing portfolio in this
segment.
90
2010
2011
For BSM, the large population of micro and small
businesses means that big efforts are still needed to
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
several LKM/S through training, assistance, and
supervision.
c) Embarking on financing cooperation with the
government institutions to get insurance facility,
liquidity and other assistance to increase financing
to micro-small business segment.
d) Expanding partnership, in which BSM has a role as
micro-small business facilitator with big companies
in the form of Nucleus-Plasma model partnership,
in which the nucleus company guarantees the
market and technology assistance.
e) Opening special outlets to serve Micro Businesses
bearing the brand “Warung Mikro BSM” located at
micro business community areas.
f) Developing technology-based micro-small
financing monitoring system to streamline and
reduce financing monitoring cost.
Also in 2011, BSM disbursed Small Business financing
with the growth at Rp587 billion or 16.50%, from Rp3.56
trillion in the end of 2010 to Rp4,14 trillion in the end of
2011.
Micro Business Financing
4.14 T
3.56 T
2010
2011
The effort to reach micro small segment customers is
often hampered by the small number of entrepreneurs
in this segment, both from internal and external factors
of business. The internal factor is the lack of information
and knowledge of micro-small businessmen to access
bank financing, and the limitation of collateral and own
capital that can be provided by micro-small businessmen.
The external factor is that there are still many financing
scheme discrepancies with the need of micro-small
customers. In addition, bank infrastructure is not ready
to reach micro-small customers in diverse locations,
sectors and communities with financing economic scale.
This Condition needs positive action by conducting
empowerment steps by the Bank.
To overcome the constraints, BSM has developed
strategies that are designed to increase portfolio of microsmall business are such as:
a) Fostering a cooperation (linkage) between LKM/S,
BPR/S, BMT, KJKS/UJKS and other non banking
finance institutions to serve as BSM marketing arm
to reach micro-small customer whose business
location is out of BSM service area coverage.
b) Improving capacity building of micro-small
customers and linkage partners in order to have
capability knowledge in serving micro-small
customers. Linkage partner capacity building is
especially for LKMS, BSM in cooperation with
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2) Micro-Small Financing Scheme
As a sharia bank that embarks on empowerment
mission to micro and small economy segments, Bank
Syariah Mandiri (BSM) consistently seeks to improve
its role in empowering micro and small business
through various financing programs.
Financing programs carried out by BSM represents a
cooperation between BSM and government institution
such as Ministry of Cooperatives, Ministry of Marine
and Fishery, Ministry of Agriculture and Ministry of
Environment.
BSM’s Financing program scheme disbursement in
2011:
a) Financing with SUP 005 funding is a financing
scheme to develop micro and small businesses,
with the total fund Rp 197 billion. The involvement
of BSM in channelling SUP 005 fund is the effort
to strengthen capitalization access to micro and
small businesses for productive business activities,
and it is one of the embodiments of BSM alignment
to micro and small economy segment in line with
BSM’s vision and mission. This financing scheme
is designed to finance investment and work capital.
The total number of micro businesses receiving
this facility reached 2,129 customers;
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d) Financing special for the agriculture sector by
utilizing Agriculture Financing Service Scheme
(SP-3) . This financing scheme is a cooperation
program between BSM and Ministry of Agriculture
to help farmers/group of farmers that have feasible
business but they are not bankable due to lack
of collaterals by providing risk back-up and the
payment of financing insurance service.
b) Financing with Sharia Revolving Fund (DBS),
with the total fund of financing that reached
RpRp87.316 billion until 2011. This financing
scheme is the involvement of BSM in the
cooperation program with the Office of the Ministry
of Cooperatives, Small and Medium Enterprises
in empowering micro businesses through the
program of Capital Strengthening for Sharia
Finance Service Cooperative (KJKS) or Sharia
Finance Service Unit (UJKS) as Sharia Micro
Finance Agency (LKMS) with Sharia Revolving
Fund (DBS) scheme aimed at strengthening micro
business capitalization access for productive
business. The amount of cooperatives receiving
financing facility with this scheme was 993
cooperatives.
c) Financing with DNS-KNLH fund is a cooperation
program between BSM and the Ministry of
Environment (KNLH) to finance micro and small
businesses by utilizing Debt for Nature Swap
(DNS) in the environment sector. The use of DNSKNLH financing mostly is for investment financing.
The total fund managed by BSM for this kind of
financing was Rp89.39 billion for 158 customers.
The types of investment financing that can be
financed by this scheme are:
(1) Pollution prevention equipments:
l Clean Production Equipment: efficient
energy and change of technology
l Ozone layer protection equipment:
(2) Recycling Industry such as all equipments used
for saving natural resource and reducing waste
(recycling of plastic, metal, and wood waste)
(3) End-of-pipe technologies:
l Sewage treatment installation;
l Air pollution control installation;
l Waste treatment installation.
(4) Laboratory Equipments:
l Equipment for emission analysis of vehicle
reparation:
l Laboratory equipments for environmental
quality analysis.
(5) Replacement of raw materials to more
environement friendly and certification for more
environmet friendly industry.
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The use of SP-3 financing is to finance investment
and work capital for farmers with micro and small
business. SP-3 financing is intended for farmers
as customers doing business in food crops,
horticulture, farms and/or plantation including:
(1) Personal/Individual
(2) In Groups/Business Groups
(3) Joint groups of legally formal and non-formal
entities
e) Financing with People’s Small Business Credit
Program (KUR) is a financing program of the
Republic of Indonesia government as the
realization of Presidential Instruction No. 6 Year
2001 to increase financing access and to develop
micro, small, medium businesses and cooperatives
in the attempt of poverty alleviation and expanding
employment. BSM is the only sharia bank joining in
this program.
3) Warung Mikro BSM
Warung Mikro BSM is a service provided in branch
and sub-branch offices for micro business customers.
The maximum fund limit given to customers through
Warung Mikro BSM is Rp100 million pursuant to the
maximum need average of recent micro business.
Until December 2011, BSM has financed the opening
of 438 Warung Mikro Outlets throughout Indonesia.
BSM Warung Mikro financing in 2011 grew by Rp605
billion, from Rp307 billion in 2010 to Rp912 billion in
the end of 2011.
Annual Report 2011 PT Bank Syariah Mandiri
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Warung Mikro
912 M
307 M
5) BSM UMKM Award
To enhance understanding about UMKM debtor profile
SMME: Small, Medium, and Micro Enterprises), BSM
presents BSM UMKM Awards to BSM micro-small
and medium business (UMKM) customers /partners
in building BSM image as the Bank that serves
customers categorized as UMKM. BSM UMKM Awards
have been presented annually since 2008.
2010
2011
The main target of Warung Mikro is individual/
business entities in need of investment/work capital
financing up to Rp100 million for productive activities.
Customers in this category are sellers at traditional
markets, motorcycle workshops, home industries,
convenience stores etc.
In accordance with the financing guideline, Warung
Mikro can also finance multipurpose projects worth
up to Rp100 million. Products and requirements for
micro financing are adapted with the characteristic of
the micro business. Now micro business has 3 (three)
products categories as follows:
a) Tunas Financing ( limit Rp2 million up to Rp10
million)
b) Madya Financing (limit >Rp10 million uo to Rp50
million)
c) Utama Financing (limit>rp50 nillion up to Rp100
million)
d) KUR Warung Mikro Financing (maximum limit up
to Rp20 million)
e) Multipurpose Financing ( maximum limit Rp50
million)
Warung Mikro service is expected to make BSM
financing more easily accessible for of micro
businesses.
4) Empowering Partners for Micro-Small Business
BSM financing consists of 15 programs carried out
through cooperation with various Ministries, NGOs and
Local Governments.
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UMKM Awards 2011 program come up in 2 categories:
general and specific. General category has 8 criteria
of customers including BPRS, KJKS/KSU/BMT/Sharia
Cooperatives (kopsyah), employee cooperatives
categories of Armed Forces, Police, Civil Servantgs,
Central and Local State Enterprises, Private Company,
Industrial Micro Sector, and Medium Industrial Sector.
Special category is for BSM customers receiving DNS
KLH, SUP 005 and KUR financing program facilities.
To support and involve in environment preservation,
BSM has added Green UMKM Award into the existing
categories.
6) BSM Pawn Financing
BSM pawn financing disbursement in 2011 grew by
Rp2.37 trillion, from Rp587 billion in the end of 2010
to Rp2.95 trillion in the end of 2011. In line with the
growth of pawn financing, the pawn fee also increased,
growing by Rp265.79 billion, from Rp36.83 billion in
the end of 2010 to Rp302.62 billion in the end of 2011.
The number of pawn outlets increased with the growth
156 outlets, from 162 in the end of 2010 to 318 outlets
in the end of 2011.
The growth of BSM gold pawn business in 2010
posted good results. BSM gold pawn revenue reached
Rp10.90 trillion, up by Rp0.93 trillion compared to that
in 2010 that reached Rp1.51 trillion. Thereby, BSM
gold pawn revenue grew by 724%, from debit 447%
and fee based 891%.
a) Business Development Program
BSM planned programs to increase pawn financing
portfolio, include:
(1) Gold Pawn Partner (MGE) Program is a program
intended for both individual and institution that
93
analysis &
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can refer customer to pawn in BSM.
(2) Gold Pawn Program for State Enterprise (BUMN)
employees is a program intended specifically for
BUMN employees to become BSM gold pawn
customers. BUMN program participant can get
compensation advantage for pawn cost. This
program began on 1 July up to 31 December
2011.
(3) Merdeka Gold Pawn Program is a program
designed to commemorate Republic of Indonesia
Independence Day. The participants of the
program are all pawn customers who pawned
in the period of July-August 2011. To the
advantages of the participants, insurance and
administration fees were waived for one last
period (15 days) if the customers pawned their
gold for 4 months. This program period was 1
July to 31 August 2011.
b) Alliance
In 2011 BSM continued expanding partnership with
other parties to open new pawn service counters.
This is marked with the signing of cooperation
agreement (PKS) with PT. Pos Indonesia and
Bank Sinar Harapan Bali (BSHB). In addition, Bank
Mandiri as the owner of BSM has supported BSM
by opening pawn service counters in Bank Mandiri
business units.
c) Pawn Service
BSM always improves service with the bank tagline
“ Mitra untuk Dana Cepat dan Mudah” . Not more
that 20 minutes financing can be received by
pawning gold. Collateral can be jewelry or precious
metal. Fee charged is relative competitive. The
fee is included insurance for the collateral. IT
system is kept on improving in line with the product
feature that is developed. To increase pawn service
range, BSM does not close possibility to open
distribution channel with third parties to open pawn
service. This is performed to accelerate network
development for the area that can be served by
BSM outlets.
94
complying to the process & procedure,
completeness of equipments, market potential
survey & competition around the branch.
d. Consumer Financing
One of the BSM businesses developed and
marketed to fulfill people’s need is consumer
financing. Consumer financing contributes
positively to the growth of financing to overall BSM
business. This performance is proved by the low
rate of NPF and good profit sharing return.
BSM channeled consumer financing during 2011
with the growth Rp 9.23 trillion or 135.43%, from
Rp6.81 trillion in the end of 2010 to Rp16.04 trillion
in the end of 2011.
In 2011 consumer financing obviously encouraged
the growth of Bank Syariah Mandiri. Consumer
financing portion towards BSM financing increased
to 43.61% from 28.43% in the end of 2010.
Consumer Financing
16.04 T
6.81 T
2010
2011
The development of consumer financing during
2011, among others:
1. Financing products development in education
(Eduka), financing for retired, housing
financing,etc.
To maintain healthy business growth and to keep
non performing financing, BSM develops risk
managememnt and quality assurance that always
make sure warranty quality, implementation
Annual Report 2011 PT Bank Syariah Mandiri
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The amount of pawn outles also
increased with the growth 156 outlets,
from 162 outlets in the end of 2010 to 318
outlets in the end of 2011.
2. Widening distribution network through
cooperation with dealer, developer, amd
university/college.
3. Healthy financing quality control.
4. Centralized consumer financing management
with information technology support.
5. Consumer Financing Business Center (CFBC)
Management
Consumer financing channeling pattern was
emphasized on the implementation of business to
business pattern. Employee cooperative is one of
BSM distribution channels to channel consumer
financing to all employees in Indonesia. Until now
BSM has channeled consumer financing to more
that 2.500 employee cooperatives.. BSM will keep
developing consumer financing through widening
distribution channel pattern with various parties to
accommodate consumer need.
In 2011, Consumer financing was channeled in
various segments such as:
1) House Financing
Financing facility for house and apartment
ownership/renovation. House financing portion
reached Rp2.14 trillion or 13.32 % from the total of
consumer financing.
2) Pension Financing
Financing facility for pensioner that have pension
benefit every month. Pensioner financing portin
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reached Rp4.27 billion or 0.03% from the total of
consumer financing.
3) Motor Vehicle Financing
Fiancing facility for car and motorcycle ownership.
Vehicle financing portion reached Rp162.27 billion
or 1.01% from the total of consumer financing.
4) Hajj Pilgrimage Bridge Financing
Bridge financing facility for Hajj registration and
hajj pilgrimage cost settlement to all companies
organize special pilgrimage. Hajj pilgrimage bridge
financing portion reached Rp3.58 trillion or 22.36%
of the total of consumer financing.
5) Multi-finance Financing
Car and motorcycle ownbershhip financing facility
provided for end user through the cooperation
with multifinance company. Multifinance financing
portion reached Rp906.32 billion or 5.56% from the
total consumer financing.
6) Implant Financing
Consumer financing facility provided by bank for
permanent employee of government institution
and private company. Implat financing portion
reached Rp4.45 trillion or 27.75% from the total of
consumer financing.
7) Medical Equipment Financing
Financing facility provided for professional in health
field for goods/service procurement that do not
violate sharia. Medical equipment financing portion
95
analysis &
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reached Rp1.07 billion or 0.01% from the total of
consumer financing.
CFBC Financing
Consumer Financing Business Center (CFBC)
CFBC is “financing machine” focused on assisting branch in
increasing business to consumer based growth of consumer
financing, especially housing and vehicle segments.
Consumer Financing Portion 2011
Type of Financing
Portion of Financing
Individual Consumer
68.07%
Medical Equipment 0.01%
Implant27.75%
Vehicle 1.01%
Others Consumer 3.60%
Pension 0.03%
Housing 13.32%
Haj Bail out 22.36%
Cooperation26.27%
State Owner Enterprise
4.44%
State Employee 8.13%
Private11.34%
Indonesion Army (TNI) / POLRI 2.36%
Multifinance 5.65%
Until the end of 2011, there were 5 new CFBCs, 1 CFBC in
Jakarta established in 2010 and 4 CFBCs established in 2011
those are in Surabaya, Bandung, Makassar, and Medan. The
portfolio reached Rp390 billion or contributed 3.30% to the
total consumer financing from Rp70.66 billion in the end of
2010 with the contribution to the total of consumer financing at
0.70%.
The biggest portfolio of CFBC financing was housing
financing, that was Rp365 billion from the total CFBC
financing portfolio at Rp390 billion.
International Banking and Treasury
Alhamdulillah Bank syariah Mandiri still booked good growth
in international banking transaction. Outgoing remittance grew
about 195% supported by prodessional transaction services
96
390 M
70.66 M
2010
2011
at branches and competitive remittance fee. Rupaih exchange
convertion towards foreign exchange with an exchange rate
referring to spot price in money market prepared b dealing
room. Bank Syariah Mandiri actively has transaction in six
different foreign exchange such as USD, EUR, JPY, SGD, AUD
and SAR.
Incoming remittance grew very significant especially remittance
from Malaysia through D.U.I.T ( Fund for Belove Indonesia)
transfer product. The benefit of this product is transaction
from Malaysia to beneficiary account in various banks in
Indonesia can be received by beneficiary in real time. Anoather
sophisticated benefit is service provided for beneficiary who
does not have account in bank. Beneficiary just need a
handphone and withdrawl can be done through the nearest
post office.
BSM also serves remittance transaction through Western Union
that give convenience for the customer who wants to received
fund in a short time.
Sxport transaction in BSM give convenience for customer
because there is no a kind of in transit interest in the process of
L/C sight negotitation.
Import transaction increased about 140% because of the trust
of the customers that channeled import transaction through
BSM. The suppost of more tnat 200 correspondence banks
all over the world can give best service for BSM customer.
Correspondence Banks commitments that give trade line facility
were almost no change compared to that in the previous year
after they saw BSM performance.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
L/C Usance Payable At Sight (UPAS) is one the products to
perform import transaction for goods needed by customer.
Various goods imported during 2011 covered carbon steel,
steel pipe, compressor, telecommunication tools, chemical
industry raw material, spare parts, generator and prinred
machine. Impoerter customer can enjoy this facility to fulfill
imported goods needed with relatively low cost because BSM
provides L/C UPAS facility in cooperation with various well
known financing banks abroad. This cooperation is mutually
beneficial to both parties that finally affects positively for BSM
customer.
USD and SAR bank note in BSM are provided in BSM
branches. BSM as the second biggest rom 21 conventional
banks or sharia bank handling haj activities provides SAR bank
note for prospective pilgrims that needs it. During haj departure
in 2011, BSM SAR service counters were opened in all haj
embarkation all over Indonesia. BSM provides SAR bank note
from the smallest nominal SR1 up to SAR100.
III. Fee Based Income
Until the end of 2011, income realization from service/fee
based income sector (pure FBI) increased to Rp859.35 billion,
grew for Rp488.41 billion or 131.67% compared to that in
2010 at Rp370.94 billion. The increase was supported by Haj
fee that grew for Rp183.43 billion, operational fee grew for
Rp307.28 billion and remittance fee grew for Rp9.39 billion.
The growth of income from haj showed BSM concern to
work on this segment. This is done by giving good service to
prospective pilgrims and to cooperate with Pilgrims Gyuidance
Group (KBIH). Meanwhile, the income from operationa was
supported by the increase of the number of transactions and
the number of BSM customers.
Explanation to Service Product (Pure Fee Based Income):
1. Haj Fee
Haj component realized Rp 324.98 billion in 2011,
increased Rp183.43 or 129.59% compared to that in
2010 at Rp141.55 billion. Haj fee component contributed
37.82%. to the total income of FBI. The realization of hak
fee exceeded the target at Rp178.5 billion or 182.3%. The
income of haj FBI in December 2011 was dominated by
the disbursement of regular haj bail out and the extension
of haj bail out facility.
2. Operational Fee
Operational fee realization Rp465.37 billion in 2011, grew
at Rp307.28 billion or 194.37% compared to that in 2010
at Rp158.090 billion. The income from operational fee
became the biggegst part 54.15% of the total FBI income.
3. Foreign Transaction Fee
Foreign transaction fee realization Rp45.53 billion in
2011 increased Rp9.39 billion or 25.98% compared to
that in 2010 at Rp 36.14 billion. Foreign transaction fee
component contributed 5.30%. to the total FBI income.
Fee Based Income Period of 2010-2011
(In Billion IDR)
FBI20102011
GrowthContribution
Nominal% %
International Banking
36.14 45.53
9.39
25.98 5.30
Haj
141.55 324.98
183.43
129.59 37.82
Micro Financing
14.73 14.25
-0.48
-3.26
1.66
Syndication and Bond
20.43
9.22
-11.21
-54.87
1.07
Operational
158.09 465.37
307.28
194.37 54.15
Total
370.94 859.35
488.41
131.67 100.00
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Fee foreign transaction realization Rp45.53 billion with
the biggest contribution from SKBDN fee ( 14.3 billion)
and spot transaction exchange rate difference (Rp14.08
billion). Receivable Usance SKBDN acquisition facility
caused SKBDN contributed 31.91% to the total foreign
transaction FBI.
4. Micro Financing Fee
Micro financing fee realization Rp14.25 billion in 2011,
decreased Rp 472 million aor 3.26% compared to that
in 2010 at Rp14.73 billion. Micro finance fee component
contributed 1.66% to the total FBI income. Micro financing
fee was supported by Mudharabah Muqayadah fee SUP
005 in which there were many branches that moved new
financing f comon commercial fund tossup 005 fund.
97
analysis &
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5. Bond Fee
Bond fee realization until the end of December 2011
reached Rp1.11 billion, decreased Rp185 million or
19.96% compared to that in the end of December 2010 at
RpRp927 million. Bond fee copmponent contributed 0.13%
to the total of FBI income.
C.Company Finance Performance
Review
6. Syndication Fee
Syndication fee realization reached Rp19.51 billion in
2010, decreased Rp11.40 billion or 58.43% com[pard to
that in 2011 at Rp8.11 billion. Syndication fee component
contributed 2.27% to the total of FBI income.
Based on data BSM share net profi towards sharia banking
showed that BSM share net profit tended to be stable around
37%-40%.
7. Remittance Fee
Western Union Fee Income reached Rp1.91 billion in
2011, increased Rp771 million or 67.81% compared to
that in 2010 at Rp 1.14 billion. Merchantreade fee income
reached Rp2.70 billion in 2011, increased Rp47 million
or 1.77% compared to that in 2010 at Rp2.65 billion. The
growth of remittance fee tended flat. This indicated that the
same customer did repeated transaction in BSM.
8. Pawn Fee
Pawn fee realization reached Rp302.62 billion, increased
rp rp265.79 billion or 721.67 % compared to that in 2010 at
Rp 36.83 billion. The growth was caused by athe increase
of pawn financing volume especially with gold goose
program and to cooperate with community ((Enterpreneur
University) in the form of gold investment seminar.
BSM booked Net Profit growth Rp132.55billion or 31.67%
from Rp418.52 billion in 2010 to Rp Rp551.07 billion in 2011.
The success in increasing net profit, especially supported
by the increase of financing portion given with the growth
of financiang at Rp12.76 trillion or 53.23%. The previous
financing was at Rp23.97 trillion in the end of 2010 to Rp36.73
trillion in the end of 2011.
In the followings were general explanation and management
analysis on the development of BSM business in the period
of 2011. This explanation was arranged based on Financial
Report for 2011 book year that was audited by Public
Accountan Office Purwantono, Suherman & Surja with the
predicate unqualified opinion.
I. Balance Sheets
BSM’s sustainable growth and bank business profit is
an integral part to its mission that has to be maintained.
The efforts conducted by BSM are managing assets
and liability carefully, prudently and optimally. With these
principle put in place, BSM has adequate capability to
meet all liabilities on time, to maintain liquidity, and to get
adequate income at the acceptable risk level.
Balance Sheets Period of 2006 – 2011
(In Billion IDR)
Asset
Productive Asset
Liability
Temporer Syirkah Fund
Issued Securities
Third Part Fund
Giro
Saving
Deposit
Equity
98
2006 2007 20082009 2010 2011
9,555 12,88517,066 22,03732,482 48,672
8,913 12,26916,399 21,31930,744 44,947
2,658 2,6472,343 3,2735,010 7,041
6,200
9,427
13,315
16,963
25,251
37,858
200 400200 200200 700
8,220
11,106
14,898
19,338
28,998
42,618
2,054 1,8461,812 2,5914,015 4,669
2,668 3,8725,284 7,1639,87314,424
3,498 5,388 7,802 9,58415,110 23,525
697 8111,208 1,6002,021 3,073
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
a. Asset
BSM assets consist of productive and non productive
assets. BSM productive assets covers: financing, Sharia
Certificate of Bank Indonesia (SBIS), placement in other
banks, securities, and administrative accounts. While, non
prodictive assets covers: cash, giro in Bank Indonesia, fix
assets, and others.
Asset
60
InIn Trillion IDR
48.67
50
The achievement of Productive Asset Quality, Removal
Allowance Funding Cash, Productive Asset re,oval
Allowance Cash during 2011 improved:
a) NPF gross from 3,52% to 2,42%
b) NPF Nett from 1,29% to 0,95%
c) Available PPAP ratio/obligatory PPAP was formed
from 127.64% to 107.66%
d) Productive Asset PP Cash from 106.99% to
103.42%
e) Financing PP Cash from 104.71% to 109.81%
NPF Gross and NPF Netto Period of 2005-2011
40
32.66
30
22.15
20
10
0
1.63
3.44
6.91
8.31
9.60
12.95
2002 200320042005 2006 20072008 2009 20102011
6.96%
17.15
During the period of 2010-2011, BSM total assets increased
from Rp32.48 trillion in 2010 to Rp48.67 trillion in 2011 or
increased 49.84% in average.
1). Fixed Asset
BSM fixed asset value as of 31 December 2011
reached Rp522 billion, up by Rp146 billion or 40.00%
from that in the end of 2010 at Rp 365 billion. In
2010 there was fix investment increase due to the
opening of network. This condition is in line with the
BSM network expansion to reach economic centers
nationwide.
2). Earning Asset
BSM asset total growth was in majority supported by
productive assets. Productive asset value increased
Rp14.21 trillion or 46.23% from Rp30.74 trillion in 2010 to
Rp44.95 trillion in 2011.
4.64%
3.50%
2.68%
5.64%
5.66%
4.84%
3.52%
3.39%
2.45%
1.34%
1.29%
2.42%
0.95%
2005 2006 20072008200920102011
NPF Netto
NPF Gross
3.) Cash
Cash position per 31 December 2011 was Rp1.05 trillion
or increased Rp52.17% compared to cash position in the
end of 2010 at Rp692 billion.
4.) Placement at Bank Indoensia
Demand deposit position at Bank Indonesia, as of
31 December 2011 was Rp2.04 trillion up by 45.71%
compared to that in the end of 2010 at Rp1.40 trillion.
BSM Rupiah Minimum Statutory Reserve (GWM) in 2010
was 5.08% or down from the position in the end of 2010
at 5.11%. GWM Foreign Currency Percentage in 2011
was 1.21%, down from the position in the end of 2010 at
5.98%. Sharia Certificate of Bank Indonesia (SBIS) as of
31 December 2011 reached Rp100 billion or lower than
the position in the end of 2010 at Rp 1.25 trillion.
BSM Productive Asset Period of 2006-2011
(In Billion IDR)
Description
20062007200820092010 2011
Financing
7,41510,32613,27816,06323,968 36,727
Marketable Securities
200400200200200 700
SBIB/FASBIS
780 6701,305 2,381 3,412 4,850
Placement in Other Bank
60
303
336
492
721
767
Administration Accounts
155166206339460 431
Total Produktive Assets
8,91312,26916,39921,31930,744 44,947
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
99
analysis &
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discussion
The decrease was caused by BSM fund investment on
earning assets that give higher profit.
Bank Indonesia Sharia Saving facility (FASBIS) position
as of 31 December 2011 was Rp4.75 trillion or up by
19.91% compared to the position in the end of 2010 at
Rp2.16 trillion.
5.) Demand Deposit and Placement in Other Banks
Demand Deposit and Placement position in other banks
as of 31 December 2011 was Rp768 billion, up by
Rp103 billion or 15.66% compared to that in other banks’
position in 2010 at Rp664 billion.
Demand deposit in other banks increased by Rp112
billion or 23.63%, from Rp474 billion in 2010 to Rp586
billion in 2011. Placement in other banks decreased from
Rp190 billion in 2010 to Rp182 billion in 2011.
Placement in other banks was conducted in the form of
wadiah, time deposit, and/or mudharabah saving, and
other accounts complying with the sharia principles.
6.) Securities
Securities position per 31 December 2011 was Rp2.19
trillion or increased 0.46% compared to securities
position in 2010 at Rp2.18 trillion. The biggest portion of
scurities owned bu BSM was National Sharia Securities
(SBSN) 47.85%.
UMKM financing composition as of 31 December 2011
reached 72,23% from the end of 2010 at 65.01%.
This achievement shows BSM commitment to
developing small and medium industrial sector by
continuously increasing financing portion on the UMKM
segment.
8.) Written Off financing
During 2011, BSM conducted written Off financing for
Rp277 billion. This amount was bigger that that in 2010
at RP228 billion. Financing that has been written before
2011 and readmitted during 2011 was 31 billion.
Removal Financing Period of 2010-2011
(In Billion IDR)
Description20102011
Initial Balance
408
609
Removal
228277
Readmission
2831
Last Balance
609
855
9.) Financing Quality
Classified Earning Assets/Earning Assets (APYD/
AP) as of 31 December 2011 reached 2.44% and the
initial ratio 2.90% in the end of 2010. Gross NPF ratio
improved from 3.52% in the end of 2010 to 2.42% in
2011. likewise, net NPF ratio improved from 1.29% in
the end of 2010 down to 0.95% in the end of 2011.
Securities Based on Maturity Date Year 2011
Description
Less than 1 Year
1 Year
1-5 Year
5-10 Year
Total
Owned to
Available
Fair Value Based Total
Maturity Date
For Sale
On Reporting
365,463,995,613
52,218,194,175
5,702,000,000
423,384,189,788
-
-
-
-
1.521,938,052,442
99,540,000,000
-
1,621,478,052,442
145,000,000,000
-
-
145,000,000,000
2.000,988,682,997151,758,194,175 5,702,000,000 2,158,448,877,172
Portion
19.33%
0
74.04%
6.63%
100.00%
7.) Disbursed Financing
Financing as of 31 December 2011 reached Rp36.73
trillion or grew by 53.23% or Rp12.76 trillion from the
position of 2010 at Rp23.97 trillion. The growth of
financing was accompanied by the growth of MicroSmall-medium enterprise (UMKM) financing portfolio.
100
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Income realization from Service/fee
based income (FBI) sector increased to
Rp859.35 billion. grew Rp488.41 billion
or 131.67% compared to that in 2010 at
Rp370.94 billion.
b. BSM seeks to maintain financing quality by monitoring
debtor business development continuously.
Furthermore, BSM continuously conducted
improvement and settlement of troubled debtors.
c. Fund Sources and Third Party Fund Composition
BSM succeeded to collect public fund during 2011 for
Rp42.62 trillion, increase Rp13.62 trilion or 46.97% from
Rp29.00 trillion in 2010.
Liability
Third Party Fund (DPK) from public were collected in
the form of giro, saving, and deposit using wadiah and
mudharabah contract.
Giro increased Rp654 billion or grew Rp16.29%, from
Rp4.02 trillion in 2010 to Rp4.67 trillion in 2011. Saving
increased Rp4.55 trillion or grew 46.10% from Rp9.87
trillion in 2010 to Rp14.42 trillion in 2011. Deposit
increased Rp8.42 trillion or grew 55.69% from Rp15.11
trillion in 2010 to Rp23.53 trillion in 2011.
This significant growth of DPK was followed by the
increase of number of accounts for 889,646 accounts or
increased 40.25% from 2,210,042 accounts inn 2010 to
3,098,688 accounts in the end of 2011.
The amount of liability increased Rp 2.03 trillion in
2011 or 40.52%, from Rp5.01 trillion in 2010 to Rp7.04
trillion in 2011. The increase was caused by the
ascension of Wadiah saving and immediate liability.
Wadiah saving increased Rp921 billion or 22.06%
from Rp4.17 trillion in 2010 to Rp5.09 trillion in 2011.
While immediate liability increased Rp161.60 billion
or 33.94%, from Rp476.19 billion in 2010 to Rp637.79
billion in 2011.The increase of Immediate liability was
caused by the increase of Bonus Reserve and tantiem
for employees, Board of Directors and Board of
Commissioners for Rp50.88 billion, Customer Deposit
Fund Rp 6.57 billion.
Wadiah saving increased due to the increase of
branches and customer resulted from Customer get
customer. The increase was in line with the Bank
strategy to increase low cost fund proportion especially
saving.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
d. Saving from Other Banks
Saving from other banks per 31 December 2011 reached
Rp78.83 trillion, increased Rp64.91 billion or 466.31% to
the position of saving from other banks in the end of 2010
at Rp13.92 billion.
101
analysis &
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discussion
e. Subordination Bond
a. Operating Income
BSM issued Subordinated Bond to strengthen
capitalization especially the Tier II. The total of
Subordinated Bond as of 31 December 2011 was Rp700
billion, increased by Rp500 billion or 250% compared to
that in 2010 at Rp200 billion. This Bond was issued in
2007 for a five-year term.
1.) Fund Management Income by Bank as Mudharib
In 2011, BSM booked Fund Management Income by
Bank as Mudharib Rp3.77 trillion increased by 36.10
% or Rp1.00 trillion from Fund Management Income
by Bank as Mudharib in 2010 at Rp2.77 trillion. The
increase of Fund Management Income by Bank
as Mudharib during 2010 was mainly due to BSM
financing growth by Rp 53.23% with the stable NPF
gross at 2.42% level and Net NPF 0.95%
f. Equity
Equity per 31 December 2011 reached Rp3.07 trillion,
oincreased Rp1.05 trillion or 51.98% towards equity
position in the end of 2010 at Rp2.02 trillion. Thhe
increase was mainly received from profit in 2010 and from
current year profit.
2.) Third Party Right on Profit Sharing for Temporer
Syirkah Fund
In line with the increase in Fund Managemement
income by bank as Mudharib, the bank liability to fulfil
third party right on profit sharing for temporary syirkah
fund also increases from Rp1.16 trillion in 2010 to
Rp1.78 trillion in 2011, up by Rp610 billion or 53.27%
g. Paid in Capital
Fund placed and Full Paid in reached
Rp1.158.243.565.000 for the amount of shares
231.648.713 on 31 December 2011 and 131.648.713
share on 31 December 2010, with the nominal value of
share capital at Rp5,000 per share.
3.) Other Business Income
The realization of other business income (fee based
income), until the end of 2011 reached Rp1.08 trillion,
up by 90.83% or Rp515 billion compared to that in
2010 at Rp567 billion. The increase was supported
by Hajj fee that increased by Rp183.43 billion and
operation fee that grew by Rp307.28 billion.
II. Profit and Loss Realization
In 2011, BSM succeeded to book net profit Rp 551.07
billion, increased by 31.67% from net profit in 2010 that was
Rp418.52 billion. This achievement was driven by the success
of BSM in maintaining growth and earning asset quality
especially financing as well as fee based income.
b. Operating Cost
Summary of Profit and Loss Period of 2010-2011
Realization of operating cost increased from Rp2.76 trillion
in 2010 to Rp4.09 trillion in the end of 2011 or increased
by 48.19%.
The increase of business cost occurred because BSM built
(In Billion IDR)
Profit and Loss Report
1. Fund Management Income by Bank
as Mudharib
2. Third Party Right on Profit Sharing of
Temporary Syirkah Fund
3. Business Profit
4. Profit before Zakat
5. Profit after Zakat/Net Profit
102
Realization of Operating Income until the end of 2011
reached Rp4.85 trillion, increased 45.21% or Rp1.51
trillion compared to the Operating Income achievement in
the end of 2010 at Rp3.34 trillion.
20102011
2,768
3,771
1,162
1,781
580
583
419
761
767
551
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM continuously tries to maintain
financing quality by monitoring
debtor business development
sustainably by conducting improvement
program and settlement on troubled
debitor.
significant business infrastructure in 2011. The increasing
of employee for 2,222 employees (including outsource)
made the total number employees as of 31 December
2011 at 4,490.
e. Net Profit
c. Provision for Asset Loss
In 2011, BSM booked Provision for Asset Loss (PPA)
Rp346.34 billion or higher than that in 2010 at Rp306.79
billion. The increase of a large amount of reserve reflected
BSM’s prudence to anticipate loss from non-performing
financing. The PPAP to NPF financing ratio increased
from 104.71% in 2010 to 109.81% in 2011.
In 2011, net profit realization reached Rp551.07 billion,
grew by Rp132.55 billion or 31.67% compared to net
profit realization in 2010 at Rp418.52 billion. The increase
was mainly due to the rise in financing portion and BSM
business expansion such as the number of outlets and
others.
III. Cash Flows Report
Cash and cash equivalent increased by Rp2.60 trillion or
42.21%, from Rp6.17 trillion in 2010 to Rp8.77 trillion in 2011.
The increase was primarily due to the upward trend in cash
flow from financing activities.
d. Operating Profit
In 2011, realization of operating profit reached Rp760.82
billion, grew by Rp181.14 or 31.67% compared to that in
2010 at Rp579.67 billion.
Cash Flow Report Period 2010-2011
Description
(in Rp milion)
20102011
Growth Prosentase
Cash Flows from Operating Activities 2,220.37
1,091.43 (1,128.94)
(330.31) (237.59)
Cash Flows from Investing Activities
- 1,750.00 -50.84%
92.72 28.07%
1,750.00 100.00%
Cash Flows from Financing Activities
Increase in Cash & Cash Equivalents
1,890.06 2,603.84 713.78 37.76%
Cash & Cash Equivalents at the
4,278.97 6,169.03 1,890.06 44.17%
6,169.03 8,772.86 2,603.84 42.21%
Beginning of the year
Cash & Cash Equivalents at the End
of the year
a. Cash Flow from Operating Activities
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Net cash provided by operating activities during the year
2011 amounting to Rp1,09 trillion, down by Rp1,13 trillion
from the year 2010 amounted to Rp2,22 trillion. This is
because the increase in business assets.
103
analysis &
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discussion
Chash Flow from Operating Activities Period 2010-2011
(In Billion IDR)
Description
(In Million IDR)
20102011
2,669,860.36 Receipts from profit sharing, sale and
Cash Flow from Financing Activities Period 2010-2011
Dscription2010
2011
3,714,216.46
purchases and rent.
Payments of profit sharing on temporary
(1,130,809.15)
syirkah funds
Income Receipts from other operating
573,628.65 Income Receipts from recovery and
(1,779,926.26)
1,081,747.76
27,540.16 31,763.27
Payments of personnel expenses
(510,645.73)
(896,088.09)
Payments of tantiem
(12,452.34)
(17,912.65)
Payments for operating expenses including
(607,198.30)
(903,943.47)
Payments of tax
(197,792.48)
(227,814.62)
Payments of zakat
(15,768.45)
Distribution of qardhul hasan funds
(1,570.63)
(1,073.55)
Receipts of non operating income/ (payments)
(410.80)
1,231.21
Aditional paid in capital
-
500.00
Financing received
-
750.00
Subordinated notes issued
-
500.00
Cash flows provided by
-
1,750.00
financing activities
receivable written off
personnel cost
(0.39)
of non operating expenses
Decrease/(increase) in operating assets
(8,465,345.15) (13,740,510.46)
Decrease/(increase) in operating liablities
1,223,615.66 1,647,521.70 Increase in temporary syirkah funds
12,606,122.72 8,243,814.25
Net cash provided by operating activities
2,220,372.09 1,091,427.59
b. Cash Flow from Investing Activities
Net cash used for investing activities during the year
2011 amounting to Rp(237.59) billion, a decrease of
Rp92,72 billion or 29.03% from the year 2010 amounted to
Rp(330.31) billion. This is mainly due to lower purchases
of securities available for sale and held to maturity.
VI.Main Financial Ratio
a. Capital Adequacy Ratio (CAR)
BSM Capital Adequacy Ratio (CAR) was at the level
14.57% in 2011 increased compared to that in 2010
at 10.60%. The increased was due to the issuance of
subordination Rp50 billion and the increase of shareholder
paid in capital in cash Rp 300 billion in 2011. At athe
same time, Sharia Banking Capital Adequacy Ratio (CAR)
reached 16.63%.
BSM and Sharia Banking CAR
20.00%
18.00%
14.00 %
12.00 %
10.00 %
8.00%
Cash Flow from Investing Activities Period 2010-2011
(8.85)
136.92
12.43%
10.67%
11.88%
12.66%
10.77%
10.60%
0.0 %
200520062007 2008 200920102011
securities
Acquisition of fixed assets
(188.23)
Proceed from sales of fixed
assets
Net cash used in Investing
(233.80)
(45.57)
-19.49%
3.69 5.06 1.37 27.14%
(330.31)
(237.59)
92.72 39.03%
activities
c. Cash Flow from Financing Activities
104
12.56%
14.57%
12.39%
2.00 %
1546.84%
and held to maturity marketable 12.41%
12.81%
4.00 %
20102011
Growth Prosentase
Purchases of available for sale (145.77)
13.73%
16.63%
6.00 %
(In Million IDR)
Description
16.25%
16.00%
Net cash flows provided by financing activities in 2011
amounting to Rp1,75 trillion, an increase compared to the
year 2010 that there has been no cash flow from financing
activities. Financing activities include capital contributions,
received financing and subordinated securities issued.
BSM
Sharia Banking
b. ROE and ROA
Performance trend of BSM’s Return on Average Equity
(ROE) shows an improvement. In 2011, BSM ROE was
64.84% or above the average of Sharia Commercial Bank
(BUS) ROE at 27.02%. The increase was attributable to
the significant achievement of net profit compared to the
previous year’s.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM and Sharia Banking ROE
to 76.44%. This increase was due to BSM network
expansion and the rising number of new employees in
2011. BSM BO/PO in 2011 was higher than the average of
BO/PO of Sharia Banking at 78.41%.
70.00 %
58.51%
60.00 %
50.00 %
40.00%
30.00 %
20.00 %
63.58%
46.21%
29.65%
44.20%
39.25%
32.22%
27.02%
30.14%
23.39%
BSM and Sharia Banking BOPO
20.00%
18.27%
10.00 %
64.84%
46.45%
120.00 %
100.00%
0.0 %
Sharia Banking
BSM
85.70%
83.84%
81.34%
78.91%
76.77%
76.54%
80.76%
80.00%
200520062007 2008 200920102011
60.00 %
78.71%
84.39%
73.76%
80.54%
74.97%
78.41%
76.44%
40.00 %
Meanwhile, BSM ROA slightly decreased from 2.21% in
2010 to 1.95% in 2011 due to the significant improvement
of BSM asset during 2011.
20.00 %
00.0 %
200520062007 2008 200920102011
BSM and Sharia Banking ROA
2.50 %
2.23%
2.07%
2.00%
1.83%
2.21%
1.95%
1.83%
1.67%
1.55%
e. Financing Deposit Ratio (FDR)
1.79%
1.50 %
1.00 %
Sharia Banking
BSM
1.35%
1.53%
1.42%
1.48%
1.10%
0.50 %
0.0 %
200520062007 2008 200920102011
BSM
BSM Financing Deposit Ratio increased from 82.54 in
2010 to 86.03% in 2011. This condition occurred because
of expansive financing for 53.23% during 2011 exceeded
funding growth at 46.97%. BSM FDR in 2011 was lower
than the average of Sharia Banking FDR at 88.94%.
Sharia Banking
BSM and Sharia Banking FDR
However, BSM ROA was higher than that of sharia
banking industry that reached 1.79%, due to the significant
improvement of BSM asset.
140.00 %
120.00 %
100.00 %
103.65%
97.75%
80.00%
c. Net Revenue Margin (NRM)
Until the end of 2011, net revenue margin ratio rached
7.48% in 2011 increased 0.91% compared to that in 2010
at 6.75%. This was due to the good improvement and
quality of financing in 2011.
d. Operation Cost to Operating Income (BO/PO) Ratio
Improved efficiency has made the Operating Cost to
Operating Income (BO/PO) ratio going up from 74.97%
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
60.00 %
98.90%
95.49%
99.76%
90.21%
75.55%
92.96%
89.12%
83.07%
89.67%
82.54%
88.94%
86.03%
40.00 %
20.00 %
00.0 %
200520062007 2008 200920102011
BSM
Sharia Banking
f. Non Performing Financing (NPF)
Non Performing Financing (NPF) ratio grossly decreased
from 3.52% in 2010 to 2.42% in 2011. This showed that
105
analysis &
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discussion
BSM financing quality continuously showed improvement.
BSM NPF was lower than that of Sharia Banking at 2.52%.
BSM and Sharia Banking NPF
8.00 %
6.94%
7.00 %
5.64%
6.00 %
5.00%
3.50%
4.75%
5.66%
4.48%
4.05%
4.00 %
3.00 %
2.00 %
4.01%
3.52%
2.52%
3.02%
2.82%
Financing PP Cash
120.00%
110.00%
100.00%
90.00%
80.00 %
70.00 %
60.00 %
50.00%
40.00 %
30.00 %
20.00 %
10.00 %
0.00%
104.23%
78.71%
66.20%
61.83%
52.62%
59.77%
50.93%
106.99%
100.97% 104.71%
111.49%
109.81%
76.26%
57.57%
200520062007 2008 200920102011
2.42%
BSM
Sharia Banking
1.42%
1.00 %
0.00%
200520062007 2008 200920102011
BSM
Sharia Banking
g. Summary of Main Financial Ratio Report
Keterangan20102011
CAR
10.60%14.57%
ROA
2.21%1.95%
ROE
63.58%64.84%
FDR
82.54%86.03%
NPF-NET
1.29%0.95%
NPF-GROSS
3.52%2.42%
NIM
6.57%7.48%
Current Ratio 202.90%
262.62%
DER
247.94%229.11%
DAR
15.42%14.47%
D.Allowance for Earning Asset Loss
(PPAP) Ratio and Bank Collectability
PPAP Ratio
PPAP financing to NPF (cash ratio) increased from 104.71%
in 2010 to 109.81% in 2011. This condition shows that the
bank continuously improved PPAP cash ratio in the effort
to anticipate non-performing financing customers and the
decrease in collectability.
Bank Collectabillity Rate
Based on management analysis and evaluation, collectability
of all demand deposit accounts and placement in other banks,
demand deposit in other banks, placement in other banks,
investment on securities, receivable, qardh, mudharabah and
musyarakah financing on 31 December 2011 and 2010 were
categorized as swift.
To cover possibilities of loss occurred due to the uncollectable
financing and earning assets, BSM always analyses age of
assets and calculation of provision on loss from uncollectable
financing. The increase of provision was a part of operating
cost in the current period.
The Management considers that the amount of allowance
for loss was adequate to cover any possible loss from
the uncollectable demand deposit and placement in Bank
Indonesia, demand deposit in other banks, placement in other
banks, investment on securities, receivable, qardh financing,
mudharabah and musyarakah financing that altogether in
compliance with Bank Indonesia regulations.
In 2011, BSM succeeded to increase receivable collectability
in swift category Rp95.14% from the total of receivables,
higher than that in 2010 at 92.68%.
E. Capital Structure
In 2011, BSM assets were funded by 77.78% from temporary
syirkah fund, 14.47 from liability, 6.31% from equity and
1.44% from subordinated securities. In line with the
encouraging development of sharia banking industry in the
106
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Capital Structure Period of 2010-2011
(In Billion IDR)
Bank Capital Structure
Liabilities
Subordinated Notes Issued
Temporary Syirkah Funds
Shareholder’s Equity
Assets
20102011
Nominal Percentage Nominal Percentage
5,010 15.42%
7,041 14.47%
200 0.62%
700 1.44%
25,251 77.74%
37,858 77.78%
2,021 6.22%
3,073 6.31%
32,482 100.00%
48,672 100.00%
national banking, BSM always seeks to provide and develop
competitive sharia banking products to fulfil people’s needs.
At the same time, BSM also plays a role in collecting and
channelling public fund and third party fund for sharia banking
business process as liability and then BSM channelled the
fund to public in various financing products that become BSM
assets.
In line with the bank strategy and policy to fine-tune different
periods between assets and fund sources, BSM applies policy
that most of the assets are funded in the form of temporary
syirkah fund.
Based on the financial and management factors mentioned
above, bank was ranked 2nd that means the bank is
categorized as good and able to handle negative impacts of
economic and financial industry.
BSM Financial Soundness Level period of 2010-2011
Description
2010
2011
RatioRankRatioRank
Financial Factors
Capital
10.60% 2 14.57%1
Asset Quality
0.97% 2 0.98%2
Earning
2.27% 2 2.02%2
Liquidity
19.01% 3 22.60%2
Sensitivity to Market
18,021.25% 155,790.70% 1
Rank
2
2
Management Factors
General Management
A
1
A
1
Risk Management
B
2
B
2
Compliance Management
A
1
A
1
Rank
AA
Composite Rank
2A
2A
Capital Adequacy Rate
F. Bank Financial Soundness and
Solvancy Level
BSM assessed Bank Financial Soundness Rate by self
assessment for the position of 31 December 2011 with the
explanation as follows:
a. Financial factors consist of Capitalization, Asset Quality,
Rentability, Liquidity, and sensitivity towards market risks
was ranked 2nd, that means the bank financial condition
categorized as good in supporting business development
and anticipating changes in economic and financial
industry conditions.
b. Management factors consist of General Management,
Risk Management, Compliance Management were ranked
A, that means the Bank is in satisfying track record,
independent, adaptable with external situation, and in a
strong risk control system, as well as capable to overcome
problems faced today and in the future.
In line with Bank Indonesia regulation, Minimum Capital
Adequacy Rate set by the central bank is 8%. BSM capital
adequacy rate in 2011 based on the capital adequacy rate
(CAR) was at 14.57% or far higher than that in the previous
year at 10.60%. BSM capitalization structure has capability to
balance market risk and credit risk in which the ratio is higher
than BI minimum adequacy ratio and BSM capital structure
has complied with BI regulation.
Liquidity
Bank liquidity rate in 2011 reached 22.60% or higher than that
in 2010 that reached 19.01%. This condition shows the bank
capability to anticipate liquidity needs and that the liquidity risk
management implementation was better than that in 2010.
Rentability
Bank rentability rate in 2011 reached 2.02% or lower than
that in 2010 at 2.27%. But, this decrease in the ratio did not
significantly affect composite rank of rentability assessment
factors that was ranked 2nd. This condition indicates that bank
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
107
analysis &
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discussion
has high rentability capacity to anticipate potential loss and to
increase capital.
Solvancy
I. The Substantial components of Income
and Other Charges
In 2011, BSM’s capability to fulfil long term obligation or bank’s
capability to fulfil obligations in case of liquidation shown
by the Capital Adequacy Rate (CAR) at the level 14.57% is
improving compared to that in the end of 2010 at 10.60% .
G.Insured Investment Capital Assets
Certain Fixed assets were insured towards fire risk and
other risks based on such insurance package as from PT
Asuransi Takaful Umum, PT Asuransi Jasindo Takaful, PT
Asuransi Jasa Indonesia, PT Asuransi Staco Jasapratama
and PT Tugu Pratama Indonesia with the total insurance
Rp640.106.319.462 and Rp491.395.061.503 for the year
ended in 2010 and 2011.
Bank Management considered that the insurance rate was
adequate to cover loss possibilities on the fixed assets
insured.
H.Extraordinary Happenings and Financial information
During the period of 2010-2011, there was no substantial
components of income and other charges that caused
sharp fluctuation, both the increase and the decrease,
except as explained in Company KAP report as in the attachment.
J. Increase in Materiality to Business
Income
During 2011, the biggest increase nominally was from
Fund Management Income from the Bank as Mudharib
from buying and selling Rp802.01 trillion or 58.18% up
from the total Operating Income in 2010, while non core
business was other business income that increased by
Rp515,21 billion or 47.63% from the total income of other
businesses in 2010.
K. The impact of Price Change on Operating Income or BSM Net Profit and
Company Operating Profit for the last 2
years.
Until the end of December 2011 there was no financial information containing extraordinary happenings, except the
explanation in Company KAP report as in the attachment.
During 2011 there was no impact of price change towards operating income or BSM Net Profit and Company
Operating Profit for the last 2 years, except as explained in
Company KAP report as in the attachment.
L. Subsequent Event Information
There was no subsequent information, except as explained in Company KAP report as in the attachment.
M. Profit Sharing Calculating Method
108
Bank allotted profit sharing to fund owners every month.
The example of profit sharing calculation is as listed in the
following table:
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Profit Sharing Distribution Period of December 2011
(In Thousan IDR)
Collection Type
Average Balance
Income for
Fund Owner Portion
Profit Sharing Nisbah Result Amount of Bonus and Profit Sharing Indication for Profit Sharing
1. Simpanan Wadiah
4,315,421,106
33,954,697 2,745,314
a. Bank
23,555,336
185,339 14,827 0.76%
b. Non Bank
4,291,865,770
33,769,358 2,730,487 0.76%
2. Tabungan Mudharabah
12,308,804,979
96,848,427 31,242,141
a. Bank
116,603,740
917,464 34.00%
311,938
3.21%
b. Non Bank
12,192,201,239 95,930,963 32.24%
30,930,203
3.04%
3. Deposito Mudharabah
a. Bank
188,649,535 1,484,337 758,995
• 1 month
174,967,316
1,376,682 51.00%
702,108
4.82%
• 3 month
5,863,322 46,134 52.00%
23,989
4.91%
• 6 month
1,336,839 10,519 52.96%
5,571
5.00%
• 12 month 6,482,058 51,002 53.58%
27,327
5.06%
b. Non Bank 23,080,321,373 181,601,123 94,091,685
• 1 month
14,529,592,491 114,322,078 51.00%
58,304,260 4.82%
• 3 month 3,273,646,615 25,757,783 52.00%
13,394,047 4.91%
• 6 month
3,356,930,103 26,413,076 53.35%
14,091,376 5.04%
• 12 month
1,920,152,164 15,108,186 54.95%
8,302,002 5.19%
Total
39,893,196,993 313,888,584 41.05%
128,838,135
N. Company Business Prospect
Indonesian macro and micro economic condition:
1. The growth of Indonesian Economy in 2011grew higher
than that in 2010.
2. Domestic economy growth improved due to the decrease
of domestic interest rate.
3. Banking sector recovered from the impact of global crisis
reflfected on:
a. The increase of intermediation function
b. The decrease of credit risk, reflected on the increase
of credit growth and absolute NPL.
4. Sharia banking grows with the increase of asset market
share and the increasing number of Sharia Commercial
Banks.
Macro Economic Condition
Description
Economic Growth Exchange Rate
Inflation
BI Rate
20102011
6.10% 6.50%
8,991 9,080
6.96% 3.75%
6.50% 6.00%
Micro Economic Condition
Commercial Bank LDR Capital Work Loan Interest Rate
Cunsumption Capital Loan Interest Rate
Base Lending Rate
Credit Growth
Absolute NPL NPL Ratio
BUS and UUS NPF
75.21%
12.83%
14.53%
11.98%
22.80%
45.24%
2.56%
3.02%
78.77%
12.09%
14.19%
11.92%
24.59%
47.69%
2.38%
2.52%
Bank Indonesia projected that in general national economic
performance in 2011 predicted to be higher than that in the
previous year. This condition was supported by the growth of
private consumption and export performance.
Conducive national economic condition is expected to give
positive impacts on national banking industry performance.
BI is projecting banking performance in 2012; credit and third
party fund will be higher than that in the previous year.
With this growth, Bank Indonesia predicted national economic
growth in 2012 can reach approximately 6.0-6.5%. But there
are some aspects that have to be aware in the process of
global economic recovery, especially happen to countries
that become Indonesia trade partners and the acceleration of
United States economic recovery.
The optimism of positive trend that is projected on national
economy and national banking industry in BI opinion will
also impact sharia banking industry. Sharia banking industry
was hoped to maintain high growth rate in 2011. BI projects
that the growth of shariah banking in 2012 can reach 35%
(pessimistic scenario) and 55% (optimistic scenario).
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
109
analysis &
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Optimistic projection of sharia banking growth is hoped to be
supported by various factors such as:
1. The increase of new player
The increase of new player will encourage the higher level
of competition in sharia banking industry. This condition
will motivate old player to maintain their market share in
higher motivation
2. More Conducive Macro Condition
The conducive Macro economy condition in 2011 was
predicted to be the encouraging factor of sharia banking
industry growth.
3. The more structured Market Decvelopment Program
The better Sharia banking industry socialization program
encouraged the increase of public acceptability rate
towards sharia banking services with wider demography
scale.
4. Human Capital Quality Improvement
The fulfillment of good quality and adequate quantity of
Human resource was significantly influence the growth of
sharia banking assets in 2011.
5. The Stronger Support of the Authority
Government accepted the development of finance and
sharia banking to be a part of an integrated government
program.
To face competition and make use of opportunity optimally in
2012, BSM has increased business capability by expanding
business network, recruiting new employees, adding more
capital, and up-grading IT infrastructure by implementing Core
Banking System. With the development of these capabilities,
BSM is expected to maintain or even to increase market share
in sharia banking industry.
O.Marketing Aspect
In the effort to better position Indonesian Banking in the
world, BSM has applied network expansion, product and
corporate marketing strategies to introduce various banking
products more extensively to the public. The implementation
of the strategies is expected to increase BSM market with
the increase of customers. In the service aspect, BSM
110
continuously improves service quality for customers,
supported by the increase of technology capability and the
development of innovative sharia banking products.
Network Expansion Strategy
BSM office network until the end of 2011 has reached 669
outlets spread all over Indonesia.
The Growth of Office Network
700
669
600
507
500
400
300
211
269
300
363
200
100
0
2006 20072008 200920102011
In supporting successful BSM products marketing to optimize
sevice for customers, BSM concerns with the aspect of
office and ATM network development in the attempt to serve
customers.
BSM ATM Network
ATM Network
ATM BSM
ATM Mandiri
ATM Bersama*
ATM Prima**
MEPS***
Total ATM Network
2009
2010
2011
220
365
627
4,795
5,395
8,993
20,487
23,609
33,910
14,403
17,486
23,773
7,4357,933 7,435
42,325
64,470
65,118
The opening of new offices and the status change of office
during 2011 are listed in the following table:
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM Office Network
Office Network
2009 2010 2011 Buka Baru Naik Status
2011
Branch Office
61 115 125
5
5
Auxiliary Branch Office
107 254 406
113
Cash Office
a. Cash Office
95
30
38
7
7
b. Sharia Service Office 49
52
15
36
Cash Service Activity
a. Payment Point
51
56
85
37
8
Total Office Network
363 507 669
162
56
Products Marketing Strategy
BSM performs Above The Line (ATL) product marketing and
also Below The Line (BTL) products.
BSM performs promotion program related to Above The Line
(ATL) banking products through promotion media such as:
l National Newspaper (Seputar Indonesia, Media Indonesia,
Koran Tempo, Harian Kontan ,etc)
l Local Newspapaer (Analisa, Waspada, Pikiran Rakyat,
Radar Garut, Kaltim Pos, Kedaulatan Rakyat, Jawa Pos,
Fajar ,etc.)
l Mandarin Newspapaer (Harian Indonesia)
l Magazine (TEMPO Magazine, TRUST Magazine, Readers
Digest, iDEA, Kicau Bintaro, Suara Muhammadiyah.)
l Tabloid (Nova Tabloid, Rumah Tabloid,etc.)
l National Radio (Gen FM).
l Local Radio (Radio Sonora Bangka, Radio Palupi)
l Internet Based Advertisement (at Okezone.com site,
Vivanews.com site).
l SMB Blast (promotion message sent to customer’s
cellphone number)
l Email blast (promotion message sent to customer’s email
address)
l Promotion on BSM ATM receipt
l Sponsorship event.
l Tionghoa Business Gathering
Product Plan Strategy in 2012
The development of sharia banking industry that becomes
more favourable in public, creating variety of business
opportunities for BSM. To welcome these business
opportunities, BSM always develops and performs innovation
to sharia banking products, by launching product strategy in
2012 to increase third party fund and fee based income.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Products to be launched by BSM in 2012 are as follows:
1. Sukuk Negara Ritel Seri-004
Sukuk Negara Ritel Seri-004 product is a service to sell
sukuk ritel instrument of Finance Department of Republic
of Indonesia.
2. Bancassurance (Development)
It is the activity of increasing bancassurance product
in which in the implementation bank cooperates with
insurance company.
3. BSM Simpatik Saving Revitalization
It is a revitalization product of existing Simpatik Saving
product with life insurance additional feature for customer.
4. Tabungan Siswa
It is a revitalization product of existing Tabungan Siswa
product with life insurance additional feature for customer.
5. Gold Investment
It is a service for gold precious metals sale with PT Antam
certificate.
6. Supplier Bill Financing
Financing product aimed at shifting supplier receivable or
bill in sharia way.
P. Dividen Policy
In Dividen payment, BSM implements dividen policy as
follows:
1. To pay cash dividend from net profit each year, the amount
is decided by Shareholders General Meeting (RUPS) on
Board of Directors’ Recommendation.
2. The decision to pay dividend depends on the profit,
financial and liquidity condition, compliance with
regulations and other relevant factors considered by BSM
Board of Directors after gaining approval from RUPS.
In 2009,2010, and 2011, in line with the decision of
Shareholders General Meeting and in attempt to increase
bank capital structure, BSM did not distribute dividend to
shareholders.
111
analysis &
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Q. Realization of Acquisition and Usage of
Public Offering Fund
Until 31 December 2011, BSM has not received Public
Offering Fund through the issuance of deneture or Bond.
R. Material Information on Expansion,
Divestation, Acquisition and
Restructuring
Until 31 December 2011, BSM has not performed expansion,
divestation, acquisition and restructuring affected BSM
structure.
S. Material Information containing
Conflict of Interest.
During 2011, there was no information containing conflict
of interest in material transaction with affiliation. All kinds of
transactions and balances with related parties, conducted with
or not with the same normal requirement and condition for
unrelated parties, disclosed in notes on financial statement.
Transaction with Related Parties
In its business, Bank performs transaction with related parties
as of defined in The Financial Accounting Standard Statement
(PSAK) No.7 (revised in 2010) on “Disclosure of related
parties”
All significant transactions and balances with other parties that
have special relationship, both conducted and not conducted
with normal price and condition as done with third parties,
disclosed in note of financial statement.
Starting 1 January 2011, based on PSAK No.7 (revised
2010) on “ Disclosing Related Parties”, transaction between
bank and other State/Local Government Owned Companies,
other entities and institutions related to Republic of Indonesia
Government, board of commissioners, board of directors
and key employees are considered as transaction with
other parties. This accounting policy has been implemented
restropectively for financial report on 31 December 2010
and year ended on that date. In its business activities, Bank
performs transaction with related parties.
PT Bank Mandiri (Persero) Tbk is BSM share holder, PT AXA
112
Mandiri Financial Services, PT Bank Sinar Harapan Bali, PT
Usaha Gedung Bank Dagang Negara, and Mandiri Tunas
Finance. Key employees are people who have authority and
responsibility as defined in PSAK No.7 (Revised 2010) on
“Disclosing Related Parties”
On 31 December 2011, Bank entered into leasing agreement
on building with PT Usaha Gedung Bank Dagang Negara (PT
UGBDN) with leasing charge of Rp12,809,078,802.
BSM Cooperation in Mandiri Group
Environment
BSM cooperates with Bank Mandiri and Bank Mandiri
Subsidiary among others are:
a. Bank Mandiri- Risk Management. BSM emplpoyee
job training in Bank Mandir, Risk Management tools
development, etc.
b. Bank Mandiri -Audit: risk based audit development,
audito job training.
c. Bank Mandir-Card Center. The use of ATM Mandiri Machine.
d. Bank Mandiri-network. Sharia Service Counter.
e. Bank Mandiri-Asset Management. Inberg and Branch Model
f. Bank Mandir-Corporate Secretary. Corporate Identity
g. AXA Mandiri: Sharia AXA service counter at BSM outlet.
h. Mandiri Securities: sukuk offering , workshop.
i. UG BDN: Building Usage.
j. Bank Sinar Harapan Bali: Western Union subagent, pawn
service.
k. Mandiri Tunas Finance: shariah financing product cooperation.
BSM Cooperation with non-Mandiri Group
Parties
On 9 September 2009, the Bank entered into agreement
in providing IT Core Banking System Service with PT
Anabatic Technologies for 12 (twelve) years with the contract
US$4,488,000. Until 31 December 2011 the Bank has made
payment for UC$1,265,154 (2010: US$993.300) as per
contract agreement.
T. The Influence of laws and Regulations
towards Company
On 15 October 2009, the Government issued Republic of
Indonesian Law No. 42 Year 2009 on The third revision on
Law of Indonesia No. 8 Year 1983 on value added tax of
Goods and Service and Sales Tax on Luxuary Goods effective
as from 1 April 2010. The law confirms that financing services
based on sharia principles are included into non Value Added
Tax (PPN) service group.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
To welcome these business
opportunities, BSM always develops
and performs innovation to sharia
banking products, by launching product
strategy in 2012.
In 2010, the Government issued Republic of Indonesia Law
No.2 Year 2010 on The Revision to Republic of Indonesia Law
No.47 Year 2009 on State Budget Revenue and Expenditure
(APBN) Budget Year 2010 came into force 25 May 2010
that article 3 paragraph 2 point b and explanatory paragraph
mentioned the imposition of Value Added Tax on several
sharia bank transactions be paid by the government.
financial report. Early implementation is allowed. The
PSAK implementation affected reclassification on several
accounts for financial report on 31 December 2010 and for
the year ended on that date as presented in Note 50.
Bank also implemented following accounting standard on 1
January 2011 that had no material impact on Bank financial
report:
The Management believes that the difference between the
amount of PPN paid by government and the amount of
SKPKB and STP received by the bank will not be charged to
bank according to the purpose and objective of the Law.
1. PSAK No. 2 (Revision 2009)-“Cash Flow Report” . To give
regulation on information of historical changes in cash and
cash equivalent through cash flow report that classifies
cash flow based on activities of operation, investment, and
financing for certain period.
U. Changes in Accounting Policies
2. PSAK No. 19 (Revision 2009)- “Intangible Assets”. To
determine accounting treatment for intangible assets that
are not specifically regulated in other PSAK. Requiring
to admit intangible assets if ,and only if, certain criteria
is fulfilled, and also regulate how to measure carrying
amount from the tangible assets and the disclosure.
Bank implemented the following accounting standard dated 1
January 2011:
1. PSAK No. 5 (Revision 2009) - “Operation Segment”
Segment information is disclosed to enable financial
report user to evaluate financial character and impact
from business activities in which entities involved and
economic environment in which entities operated. With
the implementation of PSAK No. 5 (Revision 2009), in
this year Bank does not provide information of business
segment based on geographical area.
2. PSAK No. 7 (Revision 2010)- “Disclosing Related
Parties”. Requring relationship disclosure, transaction,
and balance of related parties., including commitment, in
financial report consolidation and separate financial report
of the parent entity, and also implemented to individual
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
3. PSAK No. 25 (Revision 2009)-“Accounting, Accounting
Estimation Change, and Error Policy”. It is to determine
criteria to election and changes in accounting policies,
togther with accounting treatment and disclosure on
change in accounting policy, accounting estimation, and
error correction.
4. PSAK No. 57 (Revision 2009)-“Provision, Contigent
Liability, and Contigent Asset”. It is aimed at regulating
recognition and measurement of estimated liability,
contigent liability, and contigent asset as weel as to
ascertain adequate information is disclosed in note on
financial report to enable users to understand character,
time, and amount related to the information.
113
114
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
www.syariahmandiri.co.id
good corporate
governance report
BSM considers that GCG aspect is very
essential for sustainable operation of
the company that in turn will enhance
the reputation of BSM as trusted
Sharia Bank with the biggest market
share
1.6
Composite rate for Self Assessment
of GCG implementation in 2011 with
qualification “Good”. (B)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
www.syariahmandiri.co.id
115
good corporate
governance
A. Introduction
Good Corporate Governance (GCG) becomes an important
element for Bank Syariah Mandiri (BSM) to maintain
sustainable growth and to become world-class sharia banking
company. Further, as one of the biggest and influential Sharia
Banks, BSM is committed to involvement in the growth of
Indonesia by contributing significantly to the Economy of
Indonesia and to become a model for other companies,
especially other banks, in implementing Good Corporate
Governance (GCG).
GCG will ensure prudence of asset management and
compliance of the company’s business performance with
applicable ethical standards with high transparency and
accountability. BSM believes that the corporate governance is
a very critical aspect to the company business continuity that
in turn will enhance the reputation of BSM as a trusted Sharia
Bank. Good reputation and image drives BSM optimism to
win the target market.
Implementing GCG principles, BSM always works in line with
both the rules and regulations governing the implementation
of GCG and business processes associated with the Bank.
The bank is also guided by the provisions of internal bank
regulations and other prevailing laws including:
1. Law of Republic of Indonesia No. 40 year 2007 on Limited
Liability Company;
2. Law of Republic of Indonesia No. 21 year 2008 on Sharia
Banking;
3. Bank Indonesia Regulation (PBI) No. 11/3/PBI/2009 on
Sharia Commercial Banks;
4. Bank Indonesia Regulation (PBI) No.11/25/PBI/2009 on
revision to PBI No.5/8/PBI/2003 on Risk Management
Implementation for Commercial Banks ;
5. Bank Indonesia Regulation (PBI) No. 11/28/PBI/2009 on
Application of Anti-Money Laundering (APU) & Prevention
of Financing Terrorism (PPT);
6. Bank Indonesia Regulation (PBI) No.11/33/PBI/2009 dated
7 December 2009 and Bank Indonesia Circular (SEBI)
No.12/13/DPbS dated 30 April 2010 on Good Corporate
Governance Implementation for BUS and UUS;
7. Bank Indonesia Regulation (PBI) No.13/2/PBI/2011 dated
12 January 2011 on Compliance Function Implementation
for Commercial bank;
8. The Articles of Association PT Bank Syariah Mandiri;
9. Board Manual of PT Bank Syariah Mandiri;
10.Policies and Procedures Compliance Bank Syariah
Mandiri;
11.Guidelines for Implementation of the APU and the PPT in
116
Bank Syariah Mandiri;
12.Joint Decree (SKB) No.12/002-SKB/Kom.Dir dated 27
December 2010 on GCG (Good Corporate Governance
Charter) Charter.
13.Internal Circular (SE) No.13/010/UMM dated 26 July 2011
on Implementation of Self Assessment -Good Corporate
Governance (SA GCG).
14.Internal Circular (SE) No.13/018/UMM dated 31 December
2011 on Obligation of Implementing GCG TARProF
Principles.
Successful implementation of good corporate governance
can not be separated from the strong commitment of the all
layers within the company; Board of Commissioners, Board
of Directors, Supervisory Board and the active participation
of all employees. In accordance with the provisions of Bank
Indonesia on GCG implementation for Sharia Commercial
Banks (BUS) No 11/33/PBI/2009, the commitment of GCG
implementation embodied in;
1. Implementation of duties and responsibilities of the Board
of Commissioners and Board of Directors
2. Organizational completeness and duty implementation by
the committees and work units in charge of bank internal
control.
3. Implementation of duties and responsibilities of the Board
of Sharia Supervisory
4. Implementation of compliance function, internal and
external auditors
5. the maximum limit of channelling fund
6. Transparency of the bank’s financial and non-financial
conditions
Appreciation on GCG implementation
BSM’s GCG implementation has gained recognition from
many external parties, both local and international. This is a
form of appreciation/ public confidence for a high commitment
of all BSM personnel in managing GCG. In 2011, BSM won
several awards:
Annual Report Awards 2010 and 2009
A prestigious award won by BSM on its 2010 Annual Report
bringing in First winner title for Non-listed Finance Private
Company category. The most weighted evaluation aspect
in use is Good Corporate Governance (GCG). The annual
awarding is hosted jointly by the Capital Market Supervisory
Agency Bapepam-LK and Director General of Taxation,
Ministry of State Enterprises, Bank Indonesia, Indonesia Stock
Exchange, National Committee for Governance Policy and the
Indonesian Institute of Accountants.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
GCG Self Assessment to Bank Indonesia
B. GCG Implementation
Assessment 2011
In 2011, BSM carried out GCG implementation selfassessment, both internally and externally. Bank Indonesia
requires banks to carry out Internal and external self
assessments through Bank Indonesia Regulations (PBI) No.
11/33/PBI/200 dated December 7, 2009 article 66 on self
assessment of GCG implementation and Bank Indonesia
Circulars SE BI No.12/13/DPbS, 30April 2010
BSM Implements GCG principles consistently. The result
of the assessment for the 2011 period is 1.60, up by 1.2
compared to that for the 2010 period, to which Bank Indonesia
scored BSM 1.72 or classified as “Good” on Good Corporate
Governance (GCG) implementation.
BI self assessment perimeters
Internal BSM Self Assessment
Self Assessment of BSM’s GCG implementation refers
to the aspects of assessment of Governance Structure
Implementation, Corporate Governance Policies, Corporate
Governance Disclosure, Audit and internal controlling system.
The assessment score was 92.94 or classified as Better. It
is higher than that in 2010 at 90,67, meaning that BSM
shows utmost attention and commitment to enhancing GCG
Composite Score
Composite Score < 1.5
1.5 ≤ Composite Score < 2.5
2.5 ≤ Composite Score < 3.5
3.5 ≤ Composite Score < 4.5
4.5 ≤ Composite Score < 5
Composite Qualification
Excellent
Good
Fairly Good
Poor
Bad
implementation in bank environment.
The result of Self Assessment internal BSM
No.
Aspects of assessment
1. Governance Structure Implementation
2. Corporate Governance Policy
3. Corporate Gorvernance Disclosure
4. Audit and internal controlling system
Total Score
Title
Portion
35%
20%
25%
20%
100%
Score 2010
31.42
19.17
22.42
17.66
90.67
(LB)
Score 2011
31.42
19.55
24.24
17.71
92.94
(LB)
The result of self assessment based on BI parameter
No
Factor
Grade(a) Quality(b)Value(a)x(b)
1. Duty and responsibility performance of Board of Commissioners
1
12.50%
0.125
2. Duty and responsibility performance of Board of Directors
1
17.50%
0.17
3. Committee Establishment and Duty Implementation 2
10.00%
0.1
4. Duty and responsibility performance of Board of Sharia Supervisory
2
10.00%
0.2
5. implementation of Sharia Principles in the activity of raising
2
5.00%
0.1
and chanelling fund and services
6. Conflict of Interest Handling
2
10.00%
0.2
7. implementation of Bank compliance function
2
5.00%
0.1
8. implementation of internal audit function 2
5.00%
0.5
9. implementation of external audit function
1
5.00%
0.5
10. Legal Lending Limit
1
5.00%
0.5
11. Transparency of Financial and Non-Financial Information.
GCG Implementation Report and Internal Reports 2
15.00%
0.3
Composite Score 100.00%
1.6*
Qualification: Good*)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
117
good corporate
governance
General Conclusion to GCG Self Assessment
Factors
Composite Score
and Qulification
The Strength of GCG Implementation
0.125 – SB
Duties and responsibilities of Boards of Commissioners are very good. The principles of GCG,
TARProF, applied very well in conducting supervisory function to the Bank management. The
Board of Commissioners has complied with the amount of the members, composition, integrity
and competence in accordance with BI provision.
2 Duty and responsibility performance of Board of Directors
0.175 – SB
Directors are fully in charge for the implementation of BUS management based on prudence
and sharia principles. The meetings of directors in making important decsions are effevtiver and
transparant.
3 Committee Establishment
and Duty Implementation
0.2 – B
Bank has committe complying with BI stipulation that help Board of Commissioners’ duty and
responsibility. Risk Monitoring Committee, Audit, Remuneration and Nomination are supported
by the personnels having good integrity, independent, reputation, and competence.
4 Duty and responsibility
performance of Board of Sharia Supervisory
0.200 – B
Duty and responsibily of Board of Sharia Supervisory are effective.
5 The implementation of Sharia Principles in the activity of raising and chanelling fund and services
0.1 – B
All products dealing with the saving activity, chanelling fund and services offered are in line
with the fatwa DSN –MUI and BI regulation. All new released products have been consulted to
Board of Sharia Supervisory due to the principles of sharia.
6 Conflict of Interest Handling
0.2 – B
BSM telah memiliki kebijakan dan peraturan serta telah menghindari hal-hal yang dapat menimbulkan benturan kepentingan di dalam proses dan keputusan operasional.
7 Bank Compliance function
0.1 – B
BSM has a director dealing with compliance functions, work unit compliance/compliance divi-
0.1 – B
BSM implements audit function efficiently and efectively by performing audit process, assesing
1. Duty and responsibility performance
of Board of Commissioners
8 implementation of internal audit
function
In 2011 Boorad of Sharia Supervisory has supervised some affiliate works units due to the
implementation of sharia principle.
sion (DKN) making sure BSM operational out of compliance risk.
bank operation with the stipulation and/or condition causing risk for the bank ( risk based).
BSM internal audit function is independent to to working unit operational. Audit finding and
recommendation for revision have been submitted to the Director and b through to director in
charge of compliance function and Board of Sharia Supervisory on finding related to sharia
principles regularly. BSM internal audit is supported by the competence personnels.
118
9 implementation of external audit function
0.05 – SB
Public Accountant Office (KAP) appointed is from Purwantono, Suherman & Surya office
affiliated with Ernst & Young office ( the public accountants office mentioned has undergone
selection through Accounting Division, Audit Committee, Directors and Comissioners befere
presented to the Shareholders Generale Meeting (RUPS).
In public accountant report contains notion from Board of Sharia Supervisiry that BUS has
complied with the sharia principles and regulations. KAP has submitted management letter on
time and worked professionally.
10 Legal Lending Limit
0.05 – SB
BSM in performing risk management has applied prudence principles. Adopting BI regulation
in policy and bank funding manual. BSM regularly up-dates funding procedure in lline with the
regulations and laws in directing business growth and bank organization.
11 Transparency of Financial and
Non-Financial Information. GCG
Implementation Report and Internal
Reports
0.3 – B
BSM has performed transparency of bank financial and non-financial to the third parties on
time, including publicity on bank’s website. Internal report uses MIS & Datawarehouse, supproted by professional DST personnel..
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The Success of Sustainability GCG
implementation at BSM is supported
by elements or corporate GCG organ;
Shareholders General Meeting (RUPS),
Board of Commissioners, Board of Sharia
Supervisory, and Board of Directors
C. GCG Policy and Manual
D. GCG Mechanism
BSM GCG has continuously been optimized by strengthening
the infrastructure to reach the best practice, reliability, system
and procedure adjustment in accordance with the business
growth and sharia banking regulation to support effective GCG
Shareholders General Meeting (RUPS) makes important
decisions concerning due reference to the Articles of
Association and existing regulations. The Bank has
established clear job and responsibility description, in which
Directors are fully in charge of managing the company, while
the Board of Commissioners is in charge of supervision on the
company performance.
implementation..
GCG policy and Standad Operating Procedure (SOP)
includes;
1. Letter of independency of Board of Commissioners ( early
year 2001)
2. Letter of Independency of Directors ( early year 2011)
3. Manual for Corporate Governance
4. Manual for Corporate Ethic
5. Board of Commissioners Charter
6. Charter of Directors
7. Charter of Committee of Remuneration and Nomination
8. Charter of Audit Committee
9. Charter of Risk Monitoring Committee
10.Charter of Internal Audit
11.Policy and SOP
Annual Report 2011 PT Bank Syariah Mandiri
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E. GCG Structure
The success of GCG implementation at BSM is supported
by all corporate layers; Shareholders General Meeting
(RUPS), the Board of Commissioners, Sharia Supervisory
Board, and the Board of Directors. These layers are the main
elements of GCG structure, in which the implementation is
supported by such complementary elements as manuals for
code of corporate governance. The manual contains the basic
principles of corporate management, describes more details in
the charter, policy and Standard Operational Procedure (SOP)
that altogether make up the reference of GCG implementation.
119
good corporate
governance
GCG Structure
Good Corporate Governance Structure
Transparency
Accountability
Responsibility
Professional
Fairness
Structure/Core Organ
SGM
Dewan
Pengawas
Board
of ShariaSyariah
Supervisory
Boards of Shariah Supervisory
Direksi
Director
Board Of Directors
Dewan
Board
of Komisaris
Commisioners
Board of Commissioners
Commitee
Structure/Supporting Organ
Investor Relation
Corporate Secretary
Audit Commitee
CSR
Internal Auditor
Risk Control
Commitee
Corporate Values
Risk Management
Remuneration & Nomination
Commitee
Communication
Compliance
Policy (Standard) and Reporting
120
GCG Standard
Compliance Charter
Audit Internal Charter
Code of Conduct
Operating Prosedure
Internal Circular
Information Technology
Policy
Risk Management Policy
Internal Control Policy
La-Risywah
Self Assessment GCG
Annual Report
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
f. Delegating authority of establishing Board of Sharia
Supervisory remuneration to Board of Commissioners,
with recommendation from BSM President Director
g. Approval on the zakat alms payment amounting to
2.5% of the 2010 net profit.
I. Shareholders General Meeting
(RUPS)
The annual Shareholders General Meeting (RUPS) holds the
highest authority in the company and does not delegate the
authorities to the Board of Directors, Board of Commissioners
nor the Sharia Supervisory Board. RUPS has authority to
promote and to dismiss members of Board of Commissioners,
Sharia Supervisory Board, and Directors. RUPS also has
authority to legitimate revision on the Articles of Association,
give approval to the annual report, establish profit allotment,
appoint public accountants, and decide the amount and type
of compensation and facilities for the management.
2. Extraordinary Shareholders General
Meeting (RUPSLB)
RUPSLB on June 28, 2011 made descisions as follows:
a. Revision of Articles of Association on term of service of
Sharia Supervisory Board
b) Termination and promotion of members of BoC and
BoD for the period of 2011-2016, the organization of
the management are as follows;
c. Termination and promotion of Sharia Supervisory
Board members , they are;
1) Chairman task executive and member: Dr. M.
Syafii Antonio, M. Ec.
2) Member : Drs. H. Mohamad Hidayat, MBH, MH.
By the regulation, the 2011 Annual Shareholders General
Meeting and the Extraordinary Shareholders General Meeting
were hosted with prior notification and invitation for the
shareholders. BSM has the regulation governing the RUPS
that requires the invitation to mention the agenda of RUPS.
1. Annual Shareholders General Meeting
In 2011 BSM hosted 1 (one) time shareholders General
Meeting i.e the annual RUPS. The RUPS took place on 28
June 2011 that made the following decisions:
a. Approval on the BSM annual report along with
ratification on the Financial Report for the accounting
year 2010 that was audited by the Public Accountant
Office of Purwanto, Sarwoko and Sandjaja ( Ernst
& Young Affiliation) with statement of “unqualified
opinion”.
b. Approval on the implementation report from the Board
of Commissioners for the accounting year ended
December 31, 2010, granted the complete acquittal
and discharge of responsibilities (volledig acquit et de
charge’) of the BoC and BoD members.
c. Apporal on the use of BSM net profit of the accounting
year 2010.
d. Appointment on Public Accountant Office of
Purwantono, Suherman dan Surja (Ernst & Young
affiliation) to audit BSM Financial Reports 2011
e. Approval on the amounts of Bonus, Salary, facilities/
allowances for the BoC, and BoD.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Board of Commissioners
No.Position
Name
1.
President/independent Commissioner Achmad Marzuki
2.
Independent Commissioner
Abdillah
3.Commissioner
Tardi
4.
Commissioner
Lilis Kurniasih
5.
Independent Commissioner
Ramzi A. Zuhdi
Directors
No.Position
Name
1.
President Director Yuslam Fauzi
2.
Director Hanawijaya
3.Director
Sugiharto
4.
Director
Amran P. Nasution
5.
Director compliance Zainal Fanani
6.
Director Risk Management Achmad Syamsudin
121
good corporate
governance
II. Board of Commissioners
Board of Commissioners
The Board of Commissioners is a company organ in charge of
and with collective responsibilities on supervising and advising
the Board of Directors and ensuring that all organizational
levels of BSM have implemented GCG. However, the Board
of Commissioners is not allowed to participate in operational
decision making. The members, including the President
Commissioner are in equal position. The duty of President
Commissioner as “primus inter pares” is to coordinate
the activities of Board of Commissioners. The Board of
Commissioners is responsible to RUPS.
The Board of Commissioner has clear authorities and
responsibilities as its due functions regulated in the Articles of
Association and the prevailing laws.
The Board of Commissioner is responsible to RUPS. The
report of Board of Commissioners’ activities to the RUPS is
an implementation of accountability of supervision on the
company management due to the implementation of GCG
principles.
a. Board of Commissioners’ Duties and
Responsibilities
1. Ensuring continuous implementation of GCG principles
in every level of the organization, assisted by the
related work units
2. Supervising the Board of Director’s duty
implementation and responsibilities as well as
supervising the implementation of the Board of
Directors’ policies and providing advices to the Board
of Directors.
3. Supervising BSM business risks and the
management’s internal control activities
4. Providing response and recommendation on BSM
strategic proposal and plans submitted by the Board of
Directors.
5. Ensuring that the Board of Directors has referred to all
Shareholders interests
6. Guiding, monitoring and evaluating the implementation
of BSM strategic policies.
122
7. Upon supervising, the Board of Commissioners is not
allowed to be involved in decision making on BSM
operational activities, except on funding to the related
parties just as governed by the central bank’s Legal
Lending Limit in Commercial Bank Financing Services
and other issues that are stipulated in the articles of
Association and the prevailing regulations.
8. Notifying Bank Indonesia within a maximum of 7
(seven) work days since the finding an irregularity
against the finance and banking regulations or
potentially hampers business continuity of the bank.
9. Preparing and submitting supervision reports on the
management of BSM
10.The Board of Commissioners ensures that the Board
of Directors has followed up every audit finding and
recommendation from the internal audit work unit,
external auditors, Bank Indonesian supervisory results
and/or results from other authorities.
b. Board of Commissioners share ownership
and independency
Compliant with the Law of Republic of Indonesia No.
21 year 2008 on Sharia Banking and Bank Indonesia
Regulation No. 11 /33/PBI/2009 on GCG Implementation
for Sharia Commercial Banks and Sharia Work Units,
the Board of Commissioners has performed duty and
responsibilities professionally and independently based on
GCG. Along the year 2011, the Board of Commissioners
does not hold any share at BSM or other companies.
Membership of BSM’s Board of Commissioners consists
of 5 (five) personnel. Three of them or 60% of the
members are independent commissioner. Each member of
the Board of Commissioners has no relation to the second
degree of kinship with the other Commissioners and / or
members of the Board of Directors.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Board of Commissioners Share Ownership and Independency
Name
Position
Achmad Marzuki
President Commissioners Share in BSM
Nil
Share in Other Companies
Nil
Status of Independency
Independent
AbdillahMember NilNil
Independent
Ramzi A. Zuhdi
Member
Nil
Nil
Independent
Tardi
Member
Nil
Nil
Not Independent
Lilis Kurniasih
Member
Nil
Nil
Not Independent
c. Board of Commissioners Membership
The Members of Board of Commissioners are appointed
by RUPS and have to pass the fit and proper test ,
complied with the regulations of BI, Limited Liability
Company Law and GCG standards.
The Board of Commissioners collectively has capability to
perform duty and responsibility, and consists of personnel
who have understanding, competence to solve any
problems arising in business activities, independent in
making decisions, encouraging company’s performance,
performing careful study and providing constructive advice
to the performance of management effectively.
d. Board of Commissioners Supervision and
Recommendation
The implementation of supervisory and advisory functions
of Board of Commissioners is by performing formal and
informal meetings, while advices and recommendations
are given in written forms. The meeting agenda regularly
scheduled with Board of Directors, Directors and
work units include monthly performance, risk profile ,
bank financial soundness rate, internal audit, human
capital, NPF handling, information technology, GCG
implementation, etc.
Board of Commissioenrs Structure
No.
Name
Position
Legal Base
1.
Achmad Marzuki
Term Service
Period I
Period II
President Commissioners/
• Deed No. 10, RUPS Date 19 June 2008
June 2008 until June 2011 until
Independent Commissioners
• Deed No. 19, RUPS Date 28 June 2011
June 2011 June 2016
2.
Independent Commissioners
• Deed No. 10, RUPS Date 19 June 2008
June 2008 until June 2011 until
Abdillah
• Deed No. 19, RUPS Date 28 June 2011
June 2011
June 2016
3.
• Deed No. 10, RUPS Date 19 June 2008
June 2008 until June 2011 until
Tardi • Deed No. 19, RUPS Date 28 June 2011
June 2011
June 2016
4.
Lilis Kurniasih
Commissioners
• Deed No. 10, RUPS Date 19 June 2008
June 2008 until June 2011 until
• Deed No. 19, RUPS Date 28 June 2011
June 2011 June 2016
5.
• Deed No. 16, RUPS Date 29 June 2010
June 2010 until
Ramzi A. Zuhdi
Commissioners
Independent Commissioners
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
June 2015
123
good corporate
governance
In support to the effectiveness of duty and responsibilities,
the Board of Commissioners is supported by Audit
Committee, Risk Supervisory Committee, and
Remuneration and Nomination Committee. The
committees regularly interact with the management and
related work units.
Concerning the supervision on performance, bank’s work
schedule, and sustainable growth assurance, the Board of
Commissioners made the following recommendation;
1. Channelling fund to the productive assets with low
Risk Weighted Assets (ATMR)
2. Issuing sub debt
3. Reviewing the organization in finance to apply built-in
control and four-eye principle, especially in financing
4. Establishing a task force to handle NPF
5. Improving quality of bank services
6. Improving remunerativeness, by reducing BOPO to
increase the level of efficiency and fee based income
from financing activities.
7. Upgrading understanding and socialization on sharia
principles, especially on the financing aspects.
8. Performing operation risk management, especially on
human capital, office network and CBS development.
9. Improving competence and GCG
e. Board of Commissioners Multiple Job Title
None of the members of Board of Commissioners , Board
of Directors or Executive Officers has multiple job titles in
1 (one) non-financial institution/company, or membership
in the Board of Commissioners, Board of Directors,
Executive Officers with a supervisory function at 1 (one)
non-Bank subsidiary company controlled by the Bank.
f. Board of Commissioners Meeting
Board of Commissioners Meeting is hosted at the
minimum of once a month. The meeting can be an
internal meeting or a joint meeting between the Board of
Commissioners and Board of Directors
Internal Meeting of Board of Commissioners is a forum
and mechanism to make decision for BoC collectively.
Besides, Board of Commissioners has meeting with
Board of Directors to discuss BSM performance.
Along the year 2011, the Board of Commissioners
attended various meetings; 1 time Pre-RUPS, 13 times
internal meeting of Board of Commissioners, 14 times
Joint meeting between Board of Directors and Boards
of Commissioners . Below is the table showing the
attendance of members of Board of Commissioners:
Board of Commissioners Meeting 2011
Meeting
PRE RUPS/RUPS BoC Meeting*
BoC-BoD Meeting**
BoD-BoC Meeting***
Total Amount of Meeting 1 Times
13 Times
8 Times
14 Times
36 Times
Board of Commissioners member
Achmad Marzuki
1
13
8
14
36 Abdillah
1
13
8
14
36
Ramzi A. Zuhdi
1
10
8
14
33
Tardi
1
9
5
7
22
Lilis Kurniasih
1
7
3
11
22
Notes
*
**
***
124
Commissioners Meeting is internally hosted by Board of Commissioners
BoC & BoD Meeting is hosted the Board of Commissioners where a member of BoD is invited to the meeting
BoD & BoC Meeting is hosted by the BoD where members of the Board of Commissioners are invited
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Board of Commissioners always
performs duties and responsibilities
professionally and independently
based on good corporate governance.
g. Board of Commissioners Remuneration
Policy
h. Board of Commissioners Remuneration
The total remuneration paid to the Board of
Commissioners in 2011 including salary, annual
bonus (tantiem) and other compensation was Rp5.48
billion or increased from that in 2010 at Rp 4.03 billion.
Improvement in facilities for the Board of Commissioners
in 2011 includes 1 (one) official car Toyota Altis 2.000
cc automatic (maximum or equal) for each member,
compared to 1 (one) Toyota Camry 2.4 V for the President
Remuneration and other facilities refer to the decree of
Shareholders General Meeting with due consideration on
recommendation from the Remuneration and Nomination
Committee.
The process of remuneration is based on the analysis of
Remuneration and Nomination Committee by taking into
account some consideration as follows;
1. Benchmarking based on the salary survey conducted
by Info Bank Magazine Research Bureau in 2010
on remuneration (salary, bonus, regular benefits,
allowance, annual bonus, and other facilities) to the
closest competitor and salary survey to peer group
banks;
2. Company’s Performance
3. Inflation at the rate 6.96% in 2010
The result was presentend to Board of Commissioners
and legalized by RUPS
BSM policy for remuneration of the Board of
Commissioners in 2011:
1. Executive Remuneration of PT Bank Syariah Mandiri is
based on the decision of SGM and extraordinary SGM
in 2011.
2. Executive Facilities and benefits are based on a
joint decree of the Board of Directors and Board
of Commissioners of PT Bank Syariah Mandiri No.
10/002/DIR.KOM on Facilities and Benefits of Board of
Commissioners, Directors and Senior Advisors Board
of Commissioners of PT Bank Syariah Mandiri.
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Commissioners and 1 Toyota Innova for the members.
Remuneration and other facilities refer to the decree of
Shareholders General Meeting with due consideration on
recommendation from the Remuneration and Nomination
Committee.
Board of Commissioners Remuneration
Type of Remuneration and other Facility
Amount Paid per 1 (one) year
Board of Commissioners
Person
Rp Billion
Salary Rp/Year
5
Rp 2.31 billion
Allowance Rp/Year
5
Rp 3.16 billion
TOTAL
Rp 5.47 billion
Renumeration Policy of Board of Commissioners
Amount of Remuneration per person in 1 year *)
Amount of BoC
Rp2 billion above
Rp1 billion up to Rp2 billion
5
Rp500 million up to Rp1 billion
Rp500 million under
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good corporate
governance
The total remuneration paid to the Board of
Commissioners in 2011 including salary, annual bonus
(tantiem) and other compensation was Rp5,477 billion or
increasing from that in 2010 at Rp4,026 billion.
i. Board of Commissioners Training
To improve competency and duty performance in 2011
BSM Board of Commissioners attended various seminar
sessions, workshop, congress and benchmarking activities
as follows;
1. 1. BARA Risk Forum 2011, April 27–28, 2011, Hotel
Padma, Bandung
Improving information system and comprehension on;
a. Risk Management based on Enterprise Risk
Management
b. Stress testing
c. Main Component and Basel Challenge III
d. Understanding and assessing Catastrophic effects
– implementing business continuity management
to protect shareholders values.
2. Seminar on Good Governance
The principles of good corporate governance are very
important. Good governing on economy and noneconomy resources will lead to the people’s welfare
3. Workshop for Assessors - Competency Test for Risk
Management
One of the workshops required to be assessor
for competency test on risk management with the
commitment to improving competency and capability of
human resources in banking.
j. Board of Commissioners Supervision
Report
The Board of commissioners always performs duty
and responsibilities professionally and independently,
complying with good corporate governance. The BoC
has a commitment to being proactive in implementing
bank supervisory functions, in the process of bank’s
strategic planning, arranging, and bank’s business plan
implementation, supervision, and the implementation of
risk management and GCG.
126
The Extraordinary Shareholders General Meeting held
on June 29, 2011 decided to appoint Achmad Marzuki
as President Commissioner/Independent Commissioner,
Abdillah as Independent Commissioner, Tardi and Lilis
Kurniasih as Commissioners, making the membership of
Board of Commissioners consisting of 5 (five) people
Board of Commissioners Structure
Name
Position
Achmad Marzuki
President Commissioner/Independent Commissioner
Abdillah
Independent Commissioner
Ramzi A. Zuhdi
Independent Commissioner
Tardi
Commissioner
Lilis Kurniasih
Commissioner
The implementation of supervisory and advisory functions
of Board of Commissioners is by performing formal and
informal meetings, and the advices and recommendations
given in written form to the Board of Directors, Directors,
and work units.
In performing duty and responsibilities, The Board of
Commissioners is assisted by Audit Committee, Risk
Monitoring Committee, and Remuneration and Nomination
Committee. In with the duties the committees interact
regularly with the management and related work units.
1. Board of Commissioners Supervisory
Function
Board of Commissioners’ supervisory functions put into
effect by, among others:
a) Board of Directors and Board of
Commissioners joint meeting (Radirkom)
1. Bank Performance Report
l
Performance Report
Bank Performance Report contains the
attainment of target realization and the
factors that supported or hampered the
target achievement. Financial performance
indicators discussed on the report are assets,
Annual Report 2011 PT Bank Syariah Mandiri
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capital rate is higher than that set by the
Minimum Capital Adequacy Requirement
(KPMM). But, in October and December
2011 the capital adequacy rate was higher
than 12%, respectively 12.12% and 14.75%
that moved the bank to the first rank ( rank
1 indicates that the rate of the capital is
significantly higher than that set by KPPM).
The improvement of ratio was driven by
realization of realized paid-in capital of Rp300
billion and sub debt issuance of Rp500 billion
quality, earning assets, financing, securities,
third party fund, income, and profit sharing,
overhead cost, profit, fee based income, CAR
and other financial ratios.
l
Target Achievement
Realization of non-financial and the factors
supported or hampered the attainment of
target. Non-financial performance issues
discussed are office network development,
ATM network, and the number of employees.
Until the year-end of 2011, PT Bank Syariah
Mandiri (Bank) managed to attain predominantly
the targets set in the 2011 Bank Business Plan.
The targets are asset attainment, third party
fund accumulation, fund channelling, earning
asset quality and bank net profit. Below-target
achievements occurred only with BOPO
ratio and Cost Income ratio. The exceed ratio
happened along with the development office
network and significant increase in of new
employee recruitment in 2011.
The attainment of the above financial indicators
was also as the result of various non-financial
activities, such as; improvement in controlling
and internal supervision, risk indicators, customer
service, and human capital competency.
by Bank Mandiri as the shareholders.
l
l
2. Bank Soundness Rate Development
Based on Bank Indonesia Regulation (PBI)
Number 9/1/PBI/2007 dated January 21, 2007 on
Commercial Bank Soundness Rate Assessment
System in accordance with Sharia Principles, the
Bank performs self assessment on its soundness
rate for measuring the management capability in
managing Bank in a certain economic condition
and financial industry environment. The bank
soundness self assessment in 2011 is as follows:
l
Asset Quality Ratio along the period of
2011 was in rank 2. Asset Quality Ratio on
December 2011 at the rate of 0,98% or in
rank 2. Rank 2 indicates that asset quality
was good but with insignificant weakness.
Policy and procedures of financing and risk
management from financing have performed
effectively and referred to bank business
scale and support secure and prudent
banking operations.
Rentability
In the period of 2001, Rentability Ratio was
at rank 2 except on February which was at
rank 1. Rank 2 qualification indicates high
remunerativeness.
Liquidity
In the period of 2011, Liquidity Ratio showed
fluctuating trend between rank 2 to rank 3
except on October and November which was
at rank 1. On December 2010, Main Liqudity
Ratio was at rank 2. The rank indicated that
bank liquidity to anticipate liquidity needs and
risk management performance was strong.
l
Funding
BSM Capital Ratio Adequacy in the
January 2011 to September 2011 period
was ranked 2nd with the capital adequacy
rate under 12,00% (rank 2 indicates that
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Asset Quality
127
good corporate
governance
l
Sensitivity to Market Risk
l
In the period of 2011 sensitivity to market
risk was very high at the rank 1. The ratio
indicated that the risk was very low and
market risk management implementation was
l
Management
The grade of general management
components and management compliance
for the period of 2011 was A, showing
that Bank management had satisfying,
independent and solid track record in
adapting to external condition changes and
had a strong risk control system.
Operation Risk
For the period of 2011, operation risk
qualification was moderate due to a
transaction and operational management
issue.
l
Legal Risk
For the period of January to April 2011, law
risk qualification was low. However, in May to
December 2011 law risk qualification was low
to moderate due to a court case.
The grade of risk management for the period
of 2011 was B. This was due mainly to
the increase in the number of employees
and significant office network expansion.
However, the increase of the risks was
coupled with the improvement in bank’ s risk
management and internal control system.
l
Reputation Risk
For the period of June to November 2011,
risk reputation qualification was low to
moderate. However, in December 2011
reputation risk qualification was low because
of improvements in customer’s complaint rate
handling.
During 2011, in general Bank Soundness
Rate was in rank 2, showing that the
Bank was categorized as good and the
management was able to overcome negative
impacts from economy and financial industry
conditions.
l
Strategic Risk
For the period of January to July 2011 the
strategic risk was low. However, in August to
December 2011 the strategic risk qualification
was low to moderate due to the above-target
financing realization.
3. Bank Risk Profile Development
For the period of 2011, liquidity risk
qualification was low to moderate, showing
good Bank liquidity risk management.
effective and consistent.
l
Liquidity
Risk profile contains depiction of risk rate
attached to all bank’s activities and adequacy of
risk control system. The Risk Profile of December
2011 position showed Bank composite risk
qualification was low to moderate with stable
l
Compliance Risk
During 2011, compliance risk qualification
was low. The Bank always has high concerns
to compliance with the prevailing law.
trend.
l
l
Credit Risk
In 2011, credit risk qualification was low to
moderate, showing good bank credit risk
management.
Market Risk
For the period of 2011, market risk
qualification was low, because the Bank did
4. Bank Business Plan (RBB) and Corporate
Plan
Bank Business Plan in 2011 contains suggestions
and strategies that direct Bank Operation
activities to reach business targets in 2012. The
meeting on RBB discussed Indonesian Economic
predictions, RBB Plan 2012 and 2011 budget.
not have high exposure to market risk
128
Annual Report 2011 PT Bank Syariah Mandiri
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The Board of Commissioners gave approval
on RBB year 2012 with a reminder that in the
implementation of business activities to reach
business target be prudent, selective, and
attentive to the risk aspects.
The discussion on the implementation and
achievement of corporate plan is conducted
every month and is under the Board of
Commissioners concerns. The Board of
Commissioners has requested that corporate
plan project initiatives are compliant with the
management to make crash program in handling
troubled financing by forming remedial account/
financing recovery.
c) Compliance Performance Report
The Board of Commissioners has monitored
compliance performance through performance
reports and the results of compliance supervision
conducted by the compliance work unit. BoC
monitoring is focused on scores or ratios of
compliance index, implementation of prudential
banking, Bank Soundness Rate, and fraud
indications. Compliance index that draws BoC’s
concerns are the achievement of such parameters
as Corporate Compliance Index (CCI), Compliance
Certificate (CC), Compliance Self Assessment
(CSA), Zero Defect Index (ZDI), Regulation Index
(RI), Division Compliance Index (DCI), and GCG
Index. Apart from Compliance Certificate that was
qualified as very high, there were some other
parameters that gained high qualification, except
Branch Compliance Index (BCI), APU & PPT
Index, and Code of Conduct that was still qualified
as moderate, and PKP Performance that was
qualified as low.
Generally the rate of compliance was good,
showing a positive trend from 92.88% in December
2010 to 93.07% in December .2011 (compliance
rate qualification High)
timeline.
5. Internal Audit Implementation Report
The Internal Audit work unit performs internal
audit regularly. The Board of Commissioners
quarterly analyses the audit implementation
targets, findings of violation, and audit quality with
the Audit Committee.
b) BOC and BOD Joint Meeting
In 2011 the special agenda by Board of
Commissioner and Board of Directors or Directors
are;
1) Operation Risk
Infrastructure of Technology System (Core
Banking System). The Board of Commissioners
fully supports the development of new Core
Banking System (CBS) by monitoring each
process regularly. The Board of Commissioners
requires Board of Directors to ensure all
potencies and resources be focused on new CBS
implementation and optimising CBS by activating
d) Daily Report
available features .
2) Credit Risk
Financing to cooperatives and gold pawns. The
Board of Commissioners is concerned with
financing to cooperatives and gold pawn portfolio
that is quite big. The Board of Commissioners
required the management to strengthen policy,
SOP, internal control and risk mitigation.
Handling troubled financing and NPF control.
The Board of Commissioner has required the
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On daily basis the Board of Commissioners
monitors the balance and Net Open Position. In
2011, no violation against Net Open Position
(PDN) was found. The Board of Commissioners
monitors the asset and liability development
through the daily financial report.
e) Corporate Governance Implementation
Thye Bank has implemented corporate governance
based on 5 (five) basic principles of transparency,
accountability, responsibility, professionalism
and fairness. The implementation of corporate
governance principles are:
1) Transparency: The Bank has developed
accounting system based on the prevailing
sharia accounting standards to produce
qualified financial report and has socialized
Bank financial reports, informed Bank’s
products to customers, applied fair and
129
good corporate
governance
includes preparing Guidelines and Rules of Board of
Commissioners legalized on 11 May 2010, in revision
to the previous Guidelines and Code of Conduct of
Board of Commissioners. The guideline contains duties,
organization structure, work ethics, work hours, and
transparent procurement of Goods and
services by third parties for Bank operational
needs. The Bank has appointed external
independent and professional auditors.
2) Accountability: The Bank has defined
clear responsibilities of each organization
organ and the structure of organization that
accommodates the needs of organization,
The Bank has fair, objective and competitive
recruitment system, The Bank has defined
the management and employee remuneration
policy based on competitive performance and
transparency.
3) Responsibility: The Bank has submitted
reports to the third parties (the central bank,
Bank Mandiri, and the Financial Transactions
Analysis and Report Centre or PPATK) and
shown compliance with the provisions from the
regulator. The Bank has performed corporate
social responsibility and managed zakat alms
distribution and the qardhul hasan financing.
4) Professional: The Bank has defined a
regulation governing separation of duties
from individual interests, and made
objective decisions, free from any third party
pressure. The Bank has improved employee
competency and capability through trainings
(internal and external).
5) Fairness: The Board of Commissioners and
Board of Directors perform their duties and
responsibilities complying with the guidelines
regulated in the Articles of Corporation and
prevailing laws. The Bank gives reward for the
achievement as well as punishment for any
proven fraud.
2. Rules of Board of Commissioners
130
In line with the PBI on GCG, the Board of
Commissioners has accomplished its action plan that
Board of Commissioners meeting.
3.Conclusion
The Board of Commissioners has drawn a conclusion
that the management in 2011 showed serious efforts
to reach for the best performance and realize Bank
Business Plan. In general, the Bank achieved the target.
The Board of Commissioners also concluded that the
Bank has implemented good corporate governance,
developed adequate internal control system, and
effective and independent internal audit work unit.
Based on the supervision on performance, Bank
work plan implementation, and the efforts to support
sustainable growth, the Board of Commissioners
suggested advices concerning the Bank’s needs for
further performance improvement, among others:
a) The Bank Capital must support business
expansion plan and the growth expected.
Although the capital position (CAR) is till in
safe condition, the Bank needs to take the
following efforts:
1) Realizing the plan to increase shareholders
capital pursuant to the target time.
2) Distributing fund to earning assets with lower
Risk Weighted Asset (ATMR) rate
b) In efforts to increase sustainable growth
of financing and earning asset quality, the
Bank needs to continue more concrete and
sustainable Steps such as:
1) Re-reviewing financing organization, including
four eyes strengthening in financing decision,
segregation of duties, supervision process and
delegating of authority.
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2) Preparing a crash program to settle troubled
financing by organizing remedial account/
financing recovery.
c) Bank should maintain and increase profitability,
by taking the following steps:
1) Extending financing/receivables prudently.
2) Extending financing to profitable economic
sectors
3) Avoiding financing in need of special skills that
Bank does not have
4) Ensuring good payment obligation by
monitoring effective financing.
5) Increasing fee based income..
6) Controlling overhead by maintaining budgeting
discipline and efficiency for all activities.
d) Keeping the bank risk rate low with the stable
trend, by taking the following steps:
1) Increasing employee comprehension on
internal control .
2) Increasing prudent financing and strengthening
the four eye principle, especially in making
decision for financing.
3) Strengthening employee’s competency and
capability.
4) Strengthening technology infrastructure.
Concerning the bank prospects and
development, the Board of Commissioners
concluded that the bank needs to make
adjustments and pay attention to the future
economic condition, government’s policy,
owner support, organization improvement,
networks, human capital, risk management,
and existing technology.
k. Training Program to Improve Board of
Commissioners Competency
In the effort to improve and develop competency to
support duties in managing company, during 2011 Board
of Commissioners has joined various kinds of seminars,
workshop, conference, and talk show both local and
international.
Annual Report 2011 PT Bank Syariah Mandiri
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The followings are competency improvement program
attended by Board of Commissioners, they are:
1. BARA (Banker Association for Risk Management) Risk
Forum 2011, 27 - 28 April 2011
2. Workshop on Competency Test for Risk Management
Assessor (LSPP), 26 up to 29 October 2011.
3. Seminar on “Good Governance” (FEUI-BIMASENA)
l. Board of Commissioners Profile
Achmad Marzuki President Commissioner and
Independent Commissioner
Indonesian Citizen, born in Padang, 25 July 1939. A 1964
graduate of Gadjah Mada University and a 1980 graduate
of University of Indonesia. President Commissioner since
19 June 2008.
Career Track: President Commissioner and Independent
Commissioner, Senior Advisor of BSM Board of
Commissioners. President Commissioner of PT Bumi
Daya Plaza. President Director of PT Bank Pembangunan
Indonesia (Persero). Director of PT Bank Bumi Daya
(Persero).
Training Attended: Business Workshop. Supervised
Achievement Motivation. Training & Consultant Insurance
and Development Banking. Course on Development and
Promotion Small Enterprises by EDI/IBRD. Systematic
Managerial Analysis Application Seminar on Economic
Crime in Banking. Top Management Program of Asian
Institute. The Executive Risk Management Refresher
Programme. Risk Management in Retail Banking
Abdillah Independent Commissioner
Indonesian citizen. Born in Brebes, 21 February 1947.
A 1977 graduate of University of Indonesia. Served as
commissioner since 19 June 2008.
Career Track: Independent Commissioner of PT Bank
Syariah Mandiri. Audit Committee Member of PT Bank
Syariah Mandiri. Oversight Chief of PT Bumi Daya Welfare
Foundation. Commissioner of PT Estika Sedaya Finance.
Oversight Committee Chief THT Foundation. PT Bank
131
good corporate
governance
Bumi Daya (Persero). Internal Control Department Head
PT. Bank Bumi Daya (Persero). Accounting Department
PT Bank Bumi. Daya (Persero).
Training attended: Financial Accounting Course. Audit
Inspection and Control Course. Management Accounting
Seminar. Asset Liability Management Course Top
Management Program. SESPI BI. Qualified Internal
Auditor Certificate (QIA)
Ramzi A. Zuhdi Independe Commissioner
Indonesian citizen.
Born in Jambi , 5 May 1952. A 1972 graduate of Gadjah
Mada University and Post Graduate of Iowa State
University in 1989. Commissioner since 29 June 2010
Career Track: BSM Independent Commissioner
DPbS Director of Bank Indonesia. Director of Finance of
PT Mekar Prana
Training Attended: Islamic Banking, Executive Program
Risk Management Certification. Leadership Program
Refreshment Risk Management
Lilis Kurniasih Commissioner
Indonesian citizen. Born in Bandung, 13 January 1958.
A 1981 graduate of Bogor’s Institute of Agriculture,
Commissioner since 19 June 2008.
Career Track: Member – Board of Commissioners of
PT Bank Syariah Mandiri. Commercial Banking Center
Manager PT Bank. Mandiri (Persero) Tbk. Operations
Manager PT Bank Mandiri (Persero) Tbk. Corporate
Financing Division Head PT Bank. Syariah Mandiri Deputy
Head of PT Bank Exim Kebayoran Branch. Medium Credit
Department Head – Bandung. Lapangan Raya PT Bank
Exim. Chief Officer of Plantation Sub-Bureau - PT Bank
Exim.
Training attended: Credit Analysis. Asset and Liabilities
Investment Management. Advance Financial Analysis
Quality Service Delivery. Risk Management Certification -1
Credit Assessment. Integrated Economic & Risk Analysis
on Downstream Oil & Gas industry. Financial Report
132
Analysis III. Negotiation Skill. SOS Implementation of
Basel II & ERM. Operation Risk Management. Credit
Assessment. Leaders Forum Workshop on Insurance
& Shipping Cost. Workshop on Advertisy Quotient
Commercial Banking Assessment. Workshop on Coaching
for Leadership. Leadership and Decision Making
Tardi Commissioner
Indonesian citizen. Born in Sukoharjo, 12 May 1964.
A graduate of Sebelas Maret State University and Post
Graduate of Padjajaran University. Commissioner since 19
June 2008.
Career Track: Member of Board of Commissioners PT
Bank. Syariah Mandiri Group Head Credit Recovery II PT
Bank Mandiri. (Persero) Tbk. Dept. Head Loan Collection
I PT Bank Mandiri (Persero) Tbk. Dept. Head Loan
Disbursement PT Bank. Mandiri (Persero) Tbk.
Dep. Head Consumer Loan Disbursement PT Bank
Mandiri (Persero) Tbk. Credit Operation & Control Loan
Operations Development PT Bank Mandiri (Persero) Tbk.
Group Head - Credit Operation & Control Credit
Administration PT Bank Mandiri (Persero) Tbk.
Training attended: Credit course Venture Capital Seminar
Loan Syndication Workshop. Managerial Skill Education
Training on Debt. Restructuring and Loan SYN. Credit
Training for Lending. General Insurance Training on
Collateral. Marketing Analysis, Strategy & MPD Risk
Management Certification -1. Workshop on Credit
Settlement Optimizing. Risk Management Certification -2
Risk Management in Banking. Leaders Forum
MRB Forum Leaders
l. Secretary to Board of Commissioners
In 2011, Secretary of Board of Commissioners was Teddy
Hidayat. He was born on 26 Agust 1969. A graduate of
Bogor Institute of Agriculture Faculty of Fishery, majoring
aquaculture in 1992 and Post Gradute of Indonesia
University in 2004.
Duties and Responsibilities of Secretary to the Board of
Commissioners:
1. Ensuring Board of Commissioners meeting, Board
of Commissioner and Board of Directors meeting,
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All Board of Directors members are able to
act and take decision independently.
Duties and responsibilities of Board of
Directors implementation comply with
GCG principles.
2.
3.
4.
5.
6.
and Board of Directors and Board of Commissioners
Meeting.
Ensuring the distribution of BoC’s decisions to all
commissioners.
Ensuring the results of BoC meeting and BoC and
BoD meeting be reported to all commissioners.
Preparing reports to both internal and external
stakeholders concerning the duty and responsibility of
Board of Commissioners.
Encouraging compliance of the Board of
Commissioners and committees with GCG the
prevailing regulation.
Providing advice on the arising problems based
on Board of Commissioners’ findings on duty
implementation, authority, responsibility of supervision
of Board of commissioners to the Board of Directors
and Bank.
III. Board of Directors
As a company organ, the Board of Directors has collegial
duties and responsibilities in managing the company.
Directors can perform respective duties and make decision
in accordance with the job description and authority. But, the
implementation of duty by each Director becomes collective
responsibility. The position of each Director including
President Director is equal. The duty of President Director as
“primus inter pares” is to coordinate Directors activities.
Board of Directors members are appointed by RUPS and
have clear responsibility and authority pursuant to respective
function as mandated in the Articles of Association and laws
and described further in the Board Manual
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In duty implementation, the Board of Directors is responsible
to Shareholders General Meeting (RUPS). The Board of
Directors responsibility to RUPS is the embodiment of
accountability of company’s management.
a. Duties and Responsibilities of the Board of
Directors
1. Managing the Bank based on prudence and sharia
principles pursuant to authority and responsibility as
mandated in Bank’s Articles of Association and the
prevailing laws.
2. Implementing GCG principles in each Bank’s activity in
all levels of organization
3. Following up audit findings and recommendation from
Bank internal audit work unit, external auditor, result of
Bank Indonesia supervision and other authorities.
4. Implementing Bank’s Vision by establishing Bank
strategy and policy.
5. Providing accurate, relevant, and on-time data and
information to the Board of Commissioners.
6. Maintaining good relationship with all Bank’s partners
to realize mutual relationship for both sides.
b. Board of Directors Commitment
The Board of Directors upholds the commitment to
implementing GCG. The Implementation of GCG becomes
responsibility of all BSM employees. BSM has issued Joint
Decree of Board of Commissioners and Board of Directors
on GCG (Good Corporate Governance) Charter No. 9/002SKB/KOM.DIR dated 30 April 2007, revised by Joint Decree
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good corporate
governance
independence of President Director can be confirmed
when the party does not have any family relationship,
financial relationship with the controlling shareholder of the
Sharia Commercial Bank (BUS). Related to this, according
to BI Letter. No. 9/363/DPNP/IDPnP dated July 16, 2007
on the Implementation of GCG for Sharia Commercial
Banks, the Managing Director of BSM derives from an
independent party.
of Board of Commissioners and Board of Directors No.
12/002-SKB/KOM.DIR dated 27 December 2010 on GCG
for BUS.
Each Board of Directors member has passed the fit and
proper test. The Board of Directors has implemented
GCG principles in Bank business activity, by strengthening
Internal Audit Work Unit, Risk Management Work Unit, Risk
Management Committee, and Compliance Work Unit.
In line with the practice of good corporate governance,
the Board of Directors has signed Integrity Pacts and
submitted it to the Deposit Insurance Agency (LPS) as the
commitment to avoiding transactions containing conflict of
interests.
One of the directors has received approval from BI to be
appointed as Director of Compliance who also monitors
GCG implementation. Director of Compliance is in charge
of Compliance Division, Network, Human Capital, Training,
and Planning, Development and Work Management
Division.
The Board of Directos pays attention to the regulator’s
guidelines to comply with the commitment prudent banking
activities compliant with GCG, sharia principles, and always
makes a follow-up on the results of both internal and
external audit.
All Board of Directors members are capable to make
decisions independently. The implementation of duties and
responsibilities has complied with GCG principles.
d. Board of Directors Members
The Board of Directors membership consists of 6 (six)
members in which 1 (one) is the President Director
and 5 (five) Directors, each is appointed by RUPS. The
appointment of Board of Directors is preceded by a fit and
c. Share Ownership and Independency of
Board of Directors
proper test mechanism by the controlling shareholders.
In the period of 2011, the Board of Directors does
not own any share at PT Bank Syariah Mandiri and
other companies. Overall the composition of Board of
Commissioners member are from other parties affiliated
with BSM and/or Controlling Shareholders.
The Board of Directors collectively is authorized to assume
the mandated responsibilities, and consist of members
that have adequate comprehension, to have competency
to face problems occurred in efforts to make decisions
independently and to boost company’s performance.
Based on BI Circulars No. 12/13/DPbS point C.1. on the
Implementation of Good Corporate Governance for Sharia
banks, the President Director or Director must be from
independent parties to the controlling shareholders. The
Share Ownership and Independency of Board of Directors
134
Nam
Position
Share in BSM
Share in other Companies
Status of Independency
Yuslam Fauzi
President Director
Niil
Niil
Independent
Hanawijaya
Director
Niil
Niil
Not Independent
Sugiharto
Director
Niil
Niil
Not Independent
Zainal Fanani
Director
Niil
Niil
Not Independent
Achmad Syamsudin
Director
Niil
Niil
Not Independent
Amran P. Nasution
Director
Niil
Niil
Not Independent
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Board of Director Structure
No.
Name
Position
Legal Base
1.
Yuslam Fauzi
President Director • Deed No. 83, RUPS Date 22 June 2005
• Deed No. 10, RUPS Date 19 June 2008
• Deed No. 19, RUPS Date 28 June 2011
2.
Hanawijaya
Periode II
Periode II
June 2005 until June 2008 until June 2011 until
June 2008
June 2011
June 2016
• Deed No. 83, RUPS Date 22 June 2005
June 2005 until June 2008 s.d
June 2011 until
• Deed No. 10, RUPS Date 19 June 2008
June 2008
June 2011
June 2016
• Deed No. 19, RUPS Date 28 June 2011
3.
• Deed No. 10, RUPS Date 19 June 2008
June 2008 until June 2011 until
• Deed No. 19, RUPS Date 28 June 2011
June 2011
June 2016
4.
• Deed No. 19, RUPS Date 28 June 2011
June 2007 until June 2010 until
• Deed No. 16, RUPS Date 29 June 2010
June 2010
June 2015
5.
• Deed No. 16, RUPS Date 29 June 2010
June 2010 until Sugiharto
Zainal Fanani
Director
Term Service
Periode I
Director
Director
Achmad Syamsudin Director
6.
Amran P. Nasution
Director
• Deed No. 119, RUPS Date 19 June 2007 June 2007 until June 2010 until
• Deed No. 16, RUPS Date 29 June 2010
June 2015
e. Rules of Board of Directors
The Board of Directors has complied with action plan
in conformity with the Bank Indonesia Regulation (PBI)
on GCG including preparing Guideline and Rules of
BSM Board of Directors legalized on 22 July 2010, as
revision to the previous Guideline and Rules of Board of
Directors. The guideline regulates Board of Directors Work
Ethic, Management Meeting, Board of Directors Member
Replacement, and other prevailing provisions compliant
with the GCG principles.
f. Multiple Job Titles of Board of Directors
No member of BSM Board of Directors has multiple job as
Board of Commissioners, or Executive Official at 1 (one)
financial institution/company, or Board of Commissioners
member, Board of Directors, or Executive Official that
perform supervisory at 1 (one) non bank subsidiary
company controlled by Bank.
g. Implementation of Duties and
Responsibilities of Board of Directors
As a company organ fully authorized and responsible for
company management, the Board of Directors pursue the
company purposes and objectives and to represent the
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
June 2015
June 2010
company as mandated on the Articles of Association.
The Board of Directors is fully responsible for BSM
management implementation based on sharia and prudent
principles. The authorities and responsibilities of Board of
Directors are arranged in conformity with BSM’s Articles of
Association. All duties and responsibilities of the Board of
Directors have been accounted to shareholders through
RUPS mechanism.
In realization of GCG implementation in each of BSM
activities, the Board of Directors has performed effective
internal audit function in accordance with the standards
set in BI regulations; Risk Management and Risk
Management Committee function; and compliance function
independently.
In performing duties and responsibilities no member of
Board of Directors delegated to other parties causing
transfer of duties and function of Board of Commissioners.
As for BSM strategic policy, the Board of Directors spreads
the information to employee through socialization media
including direct media such as circulars, internal public
folder, internal magazine and other communication media
provided in BSM.
Job Descriptions of Board of Directors:
1. President Director
a. Implementing BSM Vision by establishing BSM
strategy and policy.
135
good corporate
governance
b. Evaluating regularly the target achievement
realization and determining steps needed to
improve performance
c. Coordinating work activities all Board of Directors
members and EVP including the subordinates to
optimally achieve the goal.
d. Monitoring Internal Audit Division and Risk
Management Committee activities that are directly
under his control to achieve the defined work plan.
e. Creating harmonious relationship among the
Board of Commissioners, Board of Directors,
Shareholders, Employees, customers,
Government, and Bank Indonesia in implementing
Good Corporate Governance.
f. Performing Risk Management in BSM complying
with the regulation defined.
g. Coordinating guidance to Head of Division/Unit/
Work Team and Branch.
h. Maintaining relationship with all BSM’s business
partners to create mutual relationship.
2. Director of Corporate Funding and Treasury
a. Defining strategy and policy on corporate funding
and treasury based on sharia principles, and
other prevailing regulations related to the duties
implementation.
b. Leading and coordinating all work units in
Directorate of Corporate Funding and Treasury
covering Corporate Funding and Investment,
Branch Corporate Funding, and Special and
Syndication Funding, Treasury and international
Banking in line with targets defined in the annual
work plan by maintaining sharia and prudence
principles..
3. Director of Micro, Small Business Financing
a. Defining strategy and policy on micro and small
financing sectors based on sharia principle, and
other supporting policies related to the duties
implementation.
b. Leading and coordinating all work units in
Directorate of Micro and Small Financing including
sector of Small, Micro and Program Financing,
Consumer Financing, Pawning, Mass Banking,
Remittance and Transfer Business and Business
and Product Development in performing activities
136
on financing sector pursuant to the target defined
in annual work plan by maintaining sharia and
prudence principles.
4. Director of Medium Size Business Financing
a. Defining strategy and policy on Medium Size
Business Financing sectors based on sharia
principle, and other supporting policies related to
the duties implementation.
b. Leading and coordinating all work unit in
Directorate of Middle Financing, covering
Commercial Financing, Restructuring, Financing
Completion, Corporate & Law and Facilities &
Logistic Relationship in accordance with the target
defined in the annual work plan by maintaining
sharia and prudence principles.
5. Director of Compliance
a. Defining strategy and policy pursuant to the
company’s vision by implementing BSM strategy
and policy on Compliance, Network, Human
Capital, Training and Planning, Development and
Work Management..
b. Leading and coordinating steps needed in
Compliance, Network, Human Capital, Training and
Planning, Development and Work Management
to ensure BSM has complied with all prevailing
regulation in implementing sharia and prudence
principles.
6. Director of Risk Management
a. Defining strategy and Policy pursuant to the
company’s vision by implementing BSM strategy
and policy on Risk Management, System &
Technology, Operation, Accounting and Sys-Proc
& Supervision.
b. Evaluating Bank ‘s development on Risk
Management, System & Technology, Operation,
Accounting and Sys-Proc & Supervision and to
prepare required policy.
Series of important events conducted in implementing
duties and responsibilities in managing BSM:
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
No Date of Event
1
2.
3.
5 January up to
5 March 2011
11 January 2011
3 s.d 5 March 2011
4.
5.
6.
29 March 2011
8 April 2011
27 April 2011
7.
8.
9.
10.
11.
12.
13.
28 April 2011
11 s.d 13 May 2011
14 May 2011
25 May 2011
1 June 2011
8 June 2011
11 July 2011
14. 14 July 2011
15 21 July 2011
16.
17.
18.
19.
20.
21.
22.
27-28 July 2011
21 October 2011
3 November 2011
22 November 2011
11 December 2011
20 December 2011
23 December 2011
Activities and Important Event
Description
Socialization of Transformation II 2011-2015
Sunter Auxiliary Brach Office Grand Opening
Grand Opening of Hayam Wuruk Branch Office and
Luwuk Branch Office
Bandung CFBC OPening
Cooperation Agreements Perum Pegadaian and BSM
Memorandum of Understanding PT Krakatau Steel
dan BSM
Dzikir with Orphans
Indonesia Banking Expo
Service Awarness
Training on Criminal Aspects of Credit/ Banking financing
Bank Service Excellence Monitor
Sharia Economy Community
1. KUR BSM with Bank Mandiri in Palembang
2. CSR on Building orphanage in Palembang
Sampit Branch Office Grand opening
Signing Cooperation Agreement Cooperation agreement
on ” Western Union Money Transfer ” service between PT
Bank Syariah Victoria and PT Bank Mandiri Syariah
Work Meeting
The Association of Islamic Economics Expert Committee inaguration
Releasing Action Team to Somalia
Anambas Auxiliary Branch Office Grand Opening And Signing MoU
Family Gathering
Challenge Sesion
Nationa Work Meeting on RBB 2012
h. BoD Meeting Frequency and Attendance
Board of Director meeting is held at the minimum once a
month. Board of Directors internal meeting is a forum and
mechanism to make decision collectively. Besides, BoD
also hosts meeting with BoC to discuss Bank performance.
Along the period of 2011, BoD has attended various
meetings such as: 1 time PRE RUPS, 48 times Board of
Directors Internal Meeting, 14 times BoD and BoC joint
meeting. The following is the rate of each BoC member
attendance in the meetings:
No. Board of Directors
Pre RUPS/ Bod BoC & BoD Total
RUPS Meeting MeetingMeeting
(1 times) (48 times) (14 times)
1. Yuslam Fauzi (President Director)
1
43
13
57
2. Hanawija (Director)
1
44
11
56
3. Zainal Fanani (Director)
1
45
14
60
4. Amran Nasution (Director)
1
40
10
51
5. Sugiharto (Director)
1
41
14
56
6. Achmad Syamsudin (Director)
1
41
12
54
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Hosted in 22 cities by President Director and Risk Management Director attended by all
BSM’s Employee
Attended by Director in charge of Micro-Small Financing
Attended by Director in charge of Micro-Small Financing and Director in charge of
Middle Financing
Attended by Board of Directors
Attended by Board of Directors of Perum Pegadaian and Board of Directos of BSM
Attended by Director in charge of Micro-Small Financing and Director in charge of
Middle Financing
Attended by Board of Directors, Board of Commissioners , BSM Employee, and Orphans
BSM as coordiantort of KPbS National Bank Union (Perbanas)
Attended by Head of Branch Office Barometer
Attended by BoD, Head of Divisions, Head of related Sections, Regional Office II and III
Attended by Board of Directors
Attended by Board of Directors and Board of Commissioners
Attended by President Commissioner, President Director, and Director in charge of
Micro-Small Financing
Attended by President Director
Attended by Director in charge of Micro-Small Financing and Director in charge of
Middle Financing
Attended by Board of Directors and Head of Work Units
Attended by President Director, Board of Commssioner and Head of Division
Attended by President Director
Attended by Director in charge of Compliance
Attended by Baord of Directors and all BSM employee and family around jabodetabek
Attended by Board of Commissioners
Attended by Board of Commissioners and all Head of Branche offices
i. Training Programs to Improve Board of
Directors Competency
In efforts to improve and develop competency to support
company management duties ,along the period of 2011,
the BoD attended seminars, workshops, conferences and
talk shows, both local and international.
Among the training programs attended by the Board of
Directors, are: 1. MES CEO Forum, Financial Hall, Graha Niaga 2nd
floor, Jalan Sudirman Kav. 58, Jakarta.
2. Two-day seminar on “Executive/Board Program For
Indonesian Senior Banking Executives” 29 Nov-04 Dec
2011, Okura Hotel, Amsterdam, the Netherlands
3. Economy Outlook 2012 (ISEI), 16-Nop-11, Gedung
Syafruddin Prawiranegara, Bank Indonesia Economy
Book 2112,
4. Seminar on Net Promoter Customer Loyalty Award
(Swanetwork), 27 October 2011, Ballroom,Shangrila
Hotel, Jakarta
5. Risk Management IBI-Perbanas in the Netherlands,
29-31 Noember 2011, Netherlands
137
good corporate
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6. Executive Program in Corporate Strategy in Chicago
Booth the University School of Business, 13-17 June 2011,
7. PT Bank Mandiri Seminar on “ Why Indonesia’s
Economic will fly as High as an Eagle in the next
Decades”, Paramadina Postgraduate Campus, Energy
Tower Floor 22, SCBD, Jakarta 2 February 2011,
Paramadina University & BBVA
8. Workshop on Assessor Competency Test (LSPP) 7-10
December 2011, LPPI, Jl. Kemang Raya No. 35, Jakarta
9. Seminar on Financial Service Authority (FEUI), 13
December 2011, Hotel Nikko. Jl.MH. Thamrin 59, Jakarta.
10. Seminar on FKDKP III Year 2011, 08 December 2011,
Makassar.
11. Seminar on FKDKP: Prevention and Handling Banking
Crime, 19 May 2011, Ramada Bintang Bali Hotel,
Kuat-Bali.
12. Seminar “Good Governance” (FEUI-BIMASENA),
Grand Ballroom The Dharmawangsa, Jl. Brawijaya
Yara No.26, Kebayoran Baru, Jakarta.
13. Workshop on Assessor Competency Test (LSPP), 7-10
December 2011, LPPI, Jl. Kemang Raya No. 35, Jakarta.
14. Temenos Community Forum (TCF) 23-25 May 2011,
Lisbon, Portugal.
15. Risk Management Certification Maintenance Program,
Intercontinental Mid Plaza.
16. BSMR level 4 and 5, non grade, 30 April 2011.
17. Leadership Forum, 5 August 2011
18. Workshop on the Extension of KUR-KorBid Economy,
21 July 2011, Aston Hotel, Natsepa, Jl. Raya Natsepa
No/36, Ambon 97582.
19. Workshop on the Extension of KUR-KorBid Economy,
21 July 2011, Aston Hotel, Natsepa, Jl. Raya Natsepa
No/36, Ambon 97582.
20. Sharia Banking Communication Forum (FKPS)
Invitation
21. ISEI Executive Seminar on Economics and Banking
22. Half Day Seminar PERBANAS
23. Two Days Seminar on “Executive/Board Forum
Program For Indonesian Senior Banking Executives”
24. Leadership Forum 4 Year 2011
25. Leadership Forum “Two Days Strategic Dynamic
Workshop”
26. Workshop Forsimpta
27. 2nd Asian Payment Card Forum.
28. BSMR level 4 and 5
29. Workshop Service Excellence
30. Training Service Quality.
138
j. Board of Directors Profile
Yuslam Fauzi President Director
Indonesian citizen. Born in Jakarta, 28 August 1959. A
1986 graduate of Economics Faculty – University
of Indonesia. A 1992 MBA (Finance/Investment Banking) Arizona State University, USA. Accomplishing doctorate
program at University of Indonesia. Occupy as Director
since 22 June 2005.
Training attended: Guest speaker on economics and
Sharia banking for seminars, symposium and workshops
since 1999; Correspondent Banking in American Express
Bank, New York; Pricing Methodology; Capital Market
Instruments in Asia; Valuation, Pricing & Using Capital
Market Instruments; Corporate Finance Course; Chartered
Financial Analyst Review; Global Custody & Portfolio
Administration; Advanced Project Finance & Financial
Modeling; Sharia Banking & Supervisory Aspect; Risk
Management Certification; 3rd Annual Asian Islamic
Banking & Finance Summit; Middle Eastern Investor
Forum for Indonesia; Bank Indonesia Annual International
Seminar.
Career Track: President Director of PT Bank Syariah
Mandiri; Regional Manager IX Banjarmasin Bank Mandiri;
Compliance and Risk Management Director Bank Syariah
Mandiri; Medium Credit Department Head - Bank Bumi
Daya.
Hanawijaya Director
Indonesian citizen.Born in Jakarta, 3 December 1963.A
graduate of Agrobusiness Department – Agriculture
Faculty of Bogor Agriculture Institute, and a Magister
of Management from Prasetya Mulya Institute of
Management (Jakarta, 1999). Occupy as Director since 22
June 2005.
Training attended: Career Development - Bank Dagang
Negara (BDN); Agro-business Credit Analyst Training, IPB;
Advanced Leadership Course;PPI; Effective Cash Flow
Management; Corporate Valuation Modeling – Euromoney
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
In the attempts to increase and develop
competency to support company
management duty, during 2011
Board of Directors attended various
seminars, workshops, conference
and talk show both national and
international.
Training; Executive Workshop on Certified Islamic
Financial Analyst (CIFA); Selling Commercial & Corporate
Bank ServicesCourse; Leadership Course INSEAD
Mandiri, USAID University; Internship Program USA;
Executive Program Risk Management Certification; BSMR
Program, Bank Indonesia.
Career Track: Board of Directors Member PT Bank
Syariah Mandiri; Branch Manager Jakarta Fatmawati PT
Bank Mandiri (Persero) Tbk; Departemen Head Front End
Collection PT Bank Mandiri (Persero) Tbk; Group Head
Credit Recovery PT Bank Mandiri (Persero) Tbk; Medium
Scale Business Credit Analyst Bank Dagang Negara.
39, ESQ Centre; Workshop on Risk Management &
Compliance, Novotel Coralia; Risk Management
Certification BSMR.
Career Track: Board of Directors Member PT Bank
Syariah Mandiri; Corporate Division Head PT Bank
Syariah Mandiri; Financing & Investment Division Head PT
Bank Syariah Mandiri; Treasury and Fund Division
Head PT Bank Syariah Mandiri; Medium and Retail
Financing Division Head PT Bank Syariah Mandiri;
Bandung Main Branch Head Bank Susila Bakti; Account
Officer Bank Susila Bakti Bandung.
Sugiharto Director
Amran P. Nasution Director
Indonesian citizen. Born in Jakarta, 1 December 1965. A
1989 graduate of Management Department – Economics
Faculty – Trisakti University Jakarta. Occupy as Director
since 19 June 2007.
Programs attended: Branch Head Course – Bank
Indonesia; Basic Course in Banking - Bank Susila
Bakti; Workshop on Sharia Banking Management, Tazkia
Institute; Good Corporate Governance, Risk Management
& Compliance Management, Arthur Andersen; Workshop
on Proactive Risk Management in Banking, Institute of
Finance & Banking, Sahid Jaya; Program Certificate In
Corporate Leadership TTE Advanced Level VIII, Center
of Corporate Leadership; Islamic Commercial Law In
Banking & Finance; Islamic Finance Forum; ESQ Batch
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Indonesian citizen.Born in Kediri, 19 November 1960.A
1985 graduate of Jember State Universityand a 2003 post
graduate of Jakarta Muhammadiyah University. Now
completing doctoral program at 17th August University
Surabaya. Occupy as Director since 19 June 2008.
Training attended: Credit Analysis Training; Core Credit
Training; Development of Management Skills Training;
Selling International Banking Products & Services; Spirit
Risk Management; Targeted Selection Training; 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.
139
good corporate
governance
Career Track: Board of Directors Member - PT Bank
Syariah Mandiri; Networks Division Head PT Bank
Syariah Mandiri; Regional Manager of East Java, Bali and
Mataram PT Bank Syariah Mandiri; Regional Manager of
Central Java PT Bank Muamalat Indonesia; Coordinator of
Corporate Business Restructure Financing Unit PT Bank
Muamalat Indonesia; Jakarta Fatmawati Branch Manager PT Bank Muamalat Indonesia; Head of
Commercial Financing di Surabaya PT Bank Muamalat
Indonesia.
Training attended: Optimizing Company Value Through
BCM & ERM; Implementation of Wharehouse Receipt
and Risk Management; Transformational Leadership for
Within; Internalisasi Culture (Change AgentInternational
Forum ICC; Advanced Leadership Program (International
Diploma); Euromoney Risk Mg. Master Series; Small
Medium Enterprise Financing; Credit Portfolio Risk
Management; Marketing Analysis, Strategic Marketing
&Product Development; Selling Commercial & Corporate;
Bank Services n Credit Risk Analysis Training; Credit
Risk Master class; International Trade Finance n Credit
&Operational Risk.
Zainal Fanani Director
Career Track: Regional Risk Management III & V,
Bank Mandiri; Dept. Head, Commercial Risk Mgt Group,
Bank Mandiri; Dept. Head, Retail Credit Risk Mgt. Group,
Bank Mandiri; Group Head CRM Retail, Bank Mandiri;
Head of Team, KP. Credit Supervision Section , BDN
Indonesian citizen. Born in Ngawi, 24 October 1964. A
1989 graduate of Civil Engineering Faculty Department of
Transportation Institute of Technology 10 November
Surabaya (ITS). Occupy as Director since 19 June 2007.
Training attended: Risk Management Certification BSMR;
Conference on Islamic Economy, Middle East Global
Advisors (MEGA) in Bahrain; Emotional Spiritual Quotient
Executive Program, ESQ Training; Balanced Scorecard
World class Perform, The Jakarta Consulting Group; Good
Corporate Governance, Risk Management
& Compliance; Basic course in Sharia banking Tazkia
Institut- Bank Susila Bakti; Credit Course, Bank Dagang
Negara; Branch Head Course Batch 106, IBI; Credit
Management Course Batch XII, IBI.
Career Track: Board of Directors Member - PT Bank
SyariahMandiri; Planning, Development and Performance
Management Division Head PT Bank Syariah Mandiri;
Relation Manager Retail I, Marketing & Branch
Management Division Head PT Bank Syariah Mandiri;
Surabaya Branch Head PT Bank Syariah Mandiri;
Kalimalang Sub-Branch Head, Bank Susila Bakti;
Rawamangun Sub- Branch Operation Head, Bank
Susila Bakti; Staff of Land Transportation Research &
Development Agency – Ministry of Communications.
Achmad Syamsudin Director
Indonesian Citizen, born in Jakarta 27 July 1965. A 1989 A
graduate Agriculture Faculty of Bogor Agriculture Institute.
A 1998 graduate of International University of Japan,
Nigata, Japan. Occupy as Director since 29 June 2010.
140
IV. Sharia Supervisory Board
In performing activities as a sharia commercial bank, BSM
is always monitored by the Sharia Supervisory Board (DPS).
DPS is the representative of the national DSN-MUI in sharia
financial institution that works independently. All guidelines
on funding, financing and bank operations must win approval
from Sharia Supervisory Board (DPS) to ensure conformity
with sharia principles.
a. Duties and Responsibilities
Duties and responsibilities of Sharia Supervisory Board
(DPS) refer to Bank Indonesia Regulation (PBI) No.11/33/
PBI/2009 on GCG Implementation for Sharia Commercial
Bank and Sharia Work Unit, covering:
1. Implementing duties and responsibilities complying
with Good Corporate Governance principles;
2. Evaluating and ensuring Sharia Principles compliance
on operation guidelines and the Bank’s products, in
line with the recommendation from related work units;
3. Providing sharia opinion in Bank’s new product
development process complying with fatwa of National
Sharia Board (DSN)-MUI;
4. Requesting fatwa to DSN-MU for new Bank’s products;
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
5. Reviewing regularly on compliance with Sharia
Principles on fund collection, fund channelling, and
Bank services; and
6. Requesting data and information related to the aspects
of sharia from Bank’s work unit in implementing each
duties.
b.Supervision
DPS supervises Bank sharia principle compliance after
receiving information from work unit encompassing:
1. Supervising Bank’ new product development process
based on the recommendation from related work unit,
such as:
a) Asking explanation from the Bank Officer in charge
on objectives, characteristic, and agreement (akad)
used in new product to be launched;
b) Ensuring whether the akad used in new product
is supported by the fatwa from DSN-MUI , if
there is one, DPS will analyse new product
akad compliance with fatwa DSN-MUI. But, if
there is no fatwa, DPS will propose to Board of
Commissioners to support new product with fatwa
from DSN –MUI.
c) Analysing system and procedure of new product
launched related to sharia principle compliance
with related work unit.
d) Providing Sharia opinion on new product to be
launched
2. Supervising Bank’s activities based on the input from
work units, such as:
a) Analysing report submitted and/or requested by
Board of Directors, internal audit function executive
and/or compliance function to find out the quality
of Sharia Principles compliance implementation
towards activities of collecting fund and channelling
fund and Bank services.
b) Defining amount of transaction samples that will be
analysed by taking into account quality of Sharia
Principles compliance implementation from each
activity.
c) Inspecting document of sample transactions to find
out Sharia Principle compliance as stipulated in
SOP.
d) Reviewing SOP related to sharia aspect if there
is discrepancy indication of Sharia Principle
compliance.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
e) Providing sharia opinion on fund collecting and
fund channelling and Bank’s services.
c. Composition of Sharia Supervisory Board
During 2011, the DPS composition changed several times, as
follows:
January 2011 - February 2011 Period
Concerning with the resignation of Prof. K.H. Ali Yafie as the
Head of Sharia Supervisory Board based on his letter to BSM
Board of Directors dated 28 July 2010, the DPS structure
looks as follows:
No.
Name
1. Drs. H. Mohamad Hidayat, MBA, MH
2. Dr. M. Syafii Antonio, M.Ec
Position
Member
Member
March 2011 - November 2011 Period
Based on the Decision Statement of PT Bank Syariah Mandiri
Shareholders dated on 21 March 2011, the composition and
position of BSM Sharia Supervisory Board (DPS) is as follows:
No.
Name
1. Dr. M. Syafii Antonio, M.Ec
Position
Chairman task executive and Member
2. Drs. H. Mohamad Hidayat, MBA, MH Member
Since December 2011
Based on the decision of SGM of PT Bank Syariah Mandiri
dated 28 June 2011, the SGM authorizes to the Board of
Commissioners to select and assign Members of the DPS.
After the issuance of Letter of No DSN-MUI. U-321/
DSn-MUI / IX/2011 dated 28 September 2011 concerning
Recommendations of DPS and the Decree of the Board of
Commissioners of PT Bank Syariah Mandiri No. 13/001/-KEP/
KOM dated December 22, 2011 concerning the establishment
of the Sharia Supervisory Board Chairman of PT Bank Syariah
Mandiri, the composition of DPS Member of BSM is
as follows:
141
good corporate
governance
Structure of BSM Sharia Supervisory Board
No.
Name
Position
Legal Base
1.
Prof. Dr. Komaruddin
Chairman • Deed No. 19, RUPS Date 28 June 2011
Hidayat, MA
dan SK Dewan Komisaris No. 13/001 until Period I
Period II
Period III
Period IV
22 Dcsember 2011
s.d June 2016
KEP/KOM, Date 22 Desember 2011
2.
Drs. Mohamad
• Deed No. 24, RUPS Date
8 September 1999 17 May 2006 until 19 June 2008 until
June 2011 until
Hidayat, MBA
8 September 1999
until 17 May 2006
19 June 2008
June 2016
3 Juli 2001 until
17 May 2006 until 19 June 2008
June 2011 until
17 May 2006
19 June 2008
June 2016
Member
• Deed No. 10, RUPS Date 19 June 2008
• Deed No. 19, RUPS Date 28 June 2011
3.
Dr. Muhammad
Member/
• Deed No. 10, RUPS Date 3 Juli 2001 Syafi’i Antonio, MEc.
chairman task• Deed No. 10, RUPS Date 19 June 2008
June 2011
until June 2011
Executive • Deed No. 19, RUPS Date 28 June 2011
d. Sharia Supervisory Board Report
Reporting mechanism to the implementation of DPS
supervision function is as follows:
1. Sharia Supervisory Board must report the results of
supervision to Bank Indonesia at the latest 2 (two)
months after the semester period end.
2. The term Semester is 6 (six) month period that ends in
June and December.
3. DPS supervisory report covers:
a) Supervision work sheet on new bank product
development process and
b) Supervision work sheet on bank’s activity.
e. Realization of Sharia Supervisory Board
Activities
During 2011 DPS has supervised sharia principle as follows:
1. Providing inputs that BSM’s products and services comply
with Fatwa issued by DSN.
2. Providing inputs and opinion on operation guidelines and
product manual.
3. Submitting sharia supervision reports to Bank Indonesia
every semester of 2011, covering such issues as:
a) The result of supervision on the process of new
bank product development encompassing purposes,
characteristics, akad in products, conformity with
DSN-MUI fatwa, review system and new products.
b) The results of supervision on bank’s activities
encompasses fund collection, fund channelling and
142
Term Service
bank’s services. The forms of supervision are analysis
on internal audit report, determining and reviewing
amount of transaction samples reviewing on SOP
concerning sharia aspects.
c) There were 10 (ten) Sharia Opinion statements
related to the products, transaction and operation,
such as:
(1) Late Charge (Penalty) on Letter of Credit
Transaction with Domestic L/C (SKBDN) for Export
and Import;
(2) The implementation of Mudharabah Musytarakah
Akad with Kafalah attachment in the scheme of
joint financing between the Bank and Ministry of
Public Housing for Liquidity Facility Program for
House Financing (FLPP);
(3) Gold Investment Product (PIE);
(4) Use of insurance brokerage services (Broker) in
the process of Life Insurance Coverage and the
admission of Ujroh from the use of Broker Service
as Bank income;
(5) DPS directions and explanations on fatwa No.79/
DSN-MUI/III/2011 on Qardh using Customer’s
fund;
(6) Plan of Cooperation Agreement (PKS) of BSM with
PT Sarana Multigriya Financial (PT SMF) based on
Mudharabah Akad;
(7) DPS approval on Mudharabah Musytarakah
Akad implementation with Kafalah attachment on
Liquidity Facility for Housing Financing (FLPP);
(8) Use of Conventional Insurance Service ( Non
Sharia) to cover Financing Risk;
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
(9) The Issuance of Sukuk BSM Subordinate Notes
Mudharabah year 2011;
(10) Bank Host to Host (H2H) service for BPR/BPRS
rural banks.
e) Methodology and sampling technique for review
4. Operational Constraints
In performing sampling / supervision DPS does not
use own standard format for sampling result report,
because internally there are work units that conduct
supervision duties. For this reason, the support from
directors in charge of supervision (Internal Audit Division,
and Compliance Division) is needed in order that DPS
recommendation in form of sampling result can directly
be used in coordination with technical work unit both at
Business Unit and Non Business unit in implementing
improvements.
5. New supervision method conducted during 2011 in effort
to enhance supervision on sharia practice in BSM
a) To perform Sampling directly to BSM Branch Office
semi-annually. In the first semester, sampling was
carried out at 3 branches of KC Bandung Utara, KC
Surabaya, and KC Makasar. For the second semester
there was only one branch, KC Bogor. The emphasis
of sampling was on funding and financing transaction
documents.
b) All findings from direct sampling were directly reported
to the Board of Directors or related work units to be
followed up and improved to comply with prevailing
sharia principles.
Overall at 4 (four) Branches DPS conducted sampling
to transaction documents, such as, Financing aspects
(saving provision, demand deposit and time deposit),
SOP provision, SP3 (Confirmation Letter of Financing
Approval) clauses, including detail clauses, for example,
the formulation of profit sharing, provision of penalty
(ta’widh), litigation and non litigation process for dispute,
and financing notary certificates.
Over the results of 4 (four) Branch sampling, DPS
recommended the Board of Directors to do follow-up/
improvement actions according to related work units, such as:
a) Saving Products
Recommendations to be followed up by Head Office,
referring to Fatwa No. 02/DSN-MUI/IV/2000 on
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Saving, and Fatwa No. 01/DSN-MUI/IV/2000on Giro,
among others:
1) Sharia akad title should be written
2) Rukun and condition of sharia akad should be
explained as point 1.1
3) Ratio of profit sharing ratio (nisbah) for saving
account and deposit with mudharabah akad should
be included at service counters always keep
updated
4) The inclusion of “akad mudharabah with profit
sharing return” in point 3 and “akad wadi’ah
agreement with bonus return” in point 4 on
Regulation and provision for saving account and
deposit should be separated because akad for
these products are optional, whether Wadi’ah Yad
Dhamamah or Mudharabah Muthlaqah akad.
b) Syariah Mandiri Deposit
Recommendation to be followed up by the Head
office, referring to Fatwa No. 03/DSN-MUI/IV/200 on
Deposit & DPS’ opinions on these Akads, is: On the
application form for Syariah Mandiri Deposit should be
written “Deposito Syariah Mandiri Berdasarkan Akad
Mudharabah”
c) Mandiri Syariah Giro (Demand Deposit)
Recommendation to be followed up by Head Office,
referring to the Fatwa No. 02/DSN-MUI/IV/2000 on
Saving Account, & Fatwa No.01/DSN-MUI/IV/2000
on Giro, are: on general requirements form for Giro
Syariah Account Holder: :
1) must insert statement: “Berdasarkan Akad
Wadi’ah”
2) On general rule in point 1 must insert sharia terms
for “penitip yang mempunyai uang/ muwaddi’ and
“pihak yang diberi kepercayaan atau menerima
titipan/mustawda’’
3) Clause on ‘athaya/bonus is not included yet. And
the redaction can be quotted from point 4 on Bonus
regulated in Regulation and Provision on Saving
and Giro.
d) Other supplementary matters to be followed up by
the Head Office are on application form for Rupiah
Currency Individual Account Opening found some
mistyping, such as:
143
good corporate
governance
1) On the Akad/Contract, the word pengumuman
mistyped as “pengumamnn
2) On Fasilitas/Facilaities column, the word
“pengganti (untuk kartu hilang/dicuri” mistyped as
“pengganti untuk kartu yang hilang/dicuti”
3) On Kuasa Debet/ Standing Instruction column, the
word tagihan in the sentence “Beri tanda Vuntuk
rekening tagihan yang dipilih”, was mistyped as
“tagihhan” and the word on the purpose table
Standing Instruction written Intruction”
4) In point 1.e. Regulation and Provision for Saving
and Giro the word gabungan was mistyped as
“gabunggan”
(b) The alignment of Akad
(c) Bounded Akad Definition
(d) The dispute settlement should be through
BASYARNAS or Islamic Court class I
(e) Insurance Coverage should be sharia
insurance
7) SP3 form standardization
8) Late charges should not be included in SP3. It is
not pursuant to “saddudz dzari’ah” and if there is
one occured, the formulation should be based on
the real lost. 9) SP3 for reconstruction cutomer has the same
format with point 7 but it is charged for the late
(ta’widh).
e) Financing Products
Recommendation to be followed up by Branch
Offices, referring to Fatwa No. 04/DSN-MUI/IV/2000
on Murabahah, Fatwa No. 07?DSN-MUI/IV/2000 on
Mudharabah Financing, Fatwa No. 08 DSN-MUI/
IV/2000 on Musyarakah Financing, and Fatwa No.43/
DSN-MUI/ VIII/2004 on Ta’widh, are:
1) Sharia akad bases for approved financing must
be included on SP3 and the clearance of the akad
should be more emphasized.
2) On the matterr of SP3 should contains definition
and clear akad requirement/rukun 3) The term “Jenis Transaksi” in Financing Structure
is changed with akad”
4) The inclusion of type of Akad “Mudharabah wal
murabahah/Ijarah (wa’ad)” is not approriate. And
the proper akad is “Mudharabah wal murabahah,
or “Akad Mudharabah wal ijarah”. BSM must avoid
working capital financing for non conventional bank
both financial institution and financial service.
5) In SP3 point 2 on requirement of signing financing
akad, there should be Akad clause between
cooperataion and the member of cooperation
based on sharia principle. This is to guarantee
that the fund channelling complies with the sharia
aspects, so that BSM does not support usurious
(ribawi) transactions.
6) Notary Act for SP3 should include the following
important points:
f) Other matter to be followed up by the Head Office is:
Sharia aspect comprehension of notary partner needs
improving concerning with the bank risk mitigation
from the law aspect today and the future.
f. Frequency of Meeting and Attendance of
Sharia Supervisory Board
In performing duties, DPS has conducted both regular and
incidental meetings as many as 18 times.
Period of 1 January 2011 up to November 2011
No.
Name
Number of Meeting (16 times)
1. Drs. H. Mohamad Hidayat, MBA, MH
2. Dr. M. Syafii Antonio, M.Ec
16
8
Period of December 2011
No.
Name
Number of Meeting (2 times)
1. Prof. Dr. Komaruddin Hidayat, MA
2. Dr. M. Syafii Antonio, M.Ec
3. Drs. H. Mohamad Hidayat, MBA, MH
2
1
1
(a) The mention of Akad title
144
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The success of sustainable GCG
implementation in Bank is supported by
functioning company’s GCG tools or
organ those are Share holders General
Meeting (RUPS), Board of Commissioners,
Sharia Supervisory Board, and Board of
Directors.
g. Multiple Job Titles of DPS Member
Remuneration and other facilities for DPS refer to the decision
of Shareholders as just stipulated in the Shareholders General
Meeting (RUPS), by paying attention to the advice provided by
Name
Multiple Job Title of DPS Member
Prof. Dr. Komaruddin Hidayat, MA
Dr. M. Syafii Antonio, M.Ec
Drs. H. Mohamad Hidayat, MBA, MH
Only Occupy as Supervisory Sharia
Board in PT BSM
1. PT Asuransi Takaful Indonesia,
2. PT Schroders Investment
Management,
3. Lembaga Pengembangan Export Indonesia.
1. Sharia Manulife Insurance,
2. Sharia Allianz Insurance,
3. UUS Bank BTN Syariah.
h. Sharia Supervisory Board (DPS)
Remuneration
The total amount of remuneration paid for DPS during year
2011 encompassed salary and other compensations including
annual bonus (tantiem) was Rp 836 million, higher than that
in 2010 at the rate Rp 772 million. The process of determining
remuneration for DPS was the same as that for the Board of
Commissioners.
Types of remuneration received by Sharia Supervisory Board:
Type of Remuneration and other Facility
Salary Rp/year
Amount received by DPS in 1 (one) year
Number of DPS
3
Rp Million
Rp 511 million
3
Rp 325 million
TOTAL
Rp836 million
Allowance/Other facilities Rp/year
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
the Remuneration and Nomination Committee.
i. Sharia Supervisory Board Profile
Prof. Dr. Komaruddin Hidayat, MA - Chairman
Indonesian Citizen, born in Magelang, 18 October 1953. A
1981 graduate of Ushuludin Faculty of State Islamic Institute
Syarif Hidayatullah. Post Graduate and PhD in Philosophy
of Middle East Technical University (METU), Turkey in 1995.
Achieving Doctoral Degree in Research Program from
McGill University, Canada in 1995 and Hartford Seminary
Connecticut, USA in 1997..
He is of one an influential Moslem intellectual in Indonesia and
productive in writing scientific work. Besides the Chairman of
Sharia Supervisory Board, he is also Rector of State Islamic
Institute (IAIN) Jakarta.
Dr. M. Syafii Antonio, M.Ec. Member
Indonesian 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.
145
good corporate
governance
Career Track: Member of Sharia Supervisory Board – PT
Bank Syariah Mandiri. Sharia Banking Development Expert
Committee of Bank Indonesia. Sharia National Board, MUI.
Lecturer of Tazkia.
V. Committees
1. Audit Committee
In effort to implement Good Corporate Governance,
referring to the Head of BAPEPAM decree No. Kep-29/
PM/2004 dated 24 September 2004, PT Bank Syariah
Mandiri Board of Commissioner and Board of Directors
have established Audit Committee at PT Bank Syariah
Mandiri dated 1 April 2005.
In the subsequent development, Bank Indonesia through
its regulation (PBI) No.8/4/PBI/2006 dated 30 January
2006 on Good Corporate Governance Implementation
for Commercial Banks, as amended by Bank Indonesia
Regulation No. 8/14/PBI/2006 dated 5 October 2006
and the latest amendment by Bank Indonesia Regulation
No. 11/33/PBI/2009 dated 7 December 2009 on The
Implementation of Good Corporate Governance for Sharia
Commercial Bank and Sharia Work Units, among othter
regulates the activity of Audit Committee. PT Bank Syariah
Mandiri used these regulations as guideline in performing
Audit Committee activities.
The establishment of PT Bank Syariah Mandiri Audit
Committee was accompanied by the legalization of Audit
Committee Charter of PT Bank Syariah Mandiri dated 20
May 2005 that becomes main guideline and reference of
operational activities for Audit Committee member.
Pursuant to its responsibility on work performance, the
Audit Committee has submitted performance report for the
1 January 2011 - 31 December 2011 period to PT Bank
Syariah Mandiri..
Drs. H. Mohamad Hidayat, MBA., MH. - Member
Indonesian 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: Member of Sharia Supervisory Board - PT Bank
Syariah Mandiri. Member of National Sharia Board (MUI),
Lecturer – Master’s Program PSTTI University of Indonesia.
Lecturer – Master’s Program IEF Trisaksi University.
j. Secretary to the Sharia Supervisory Board
Since 2011, Rahmat Hidayat has been Sharia Supervisory
Board Secretary. He was born on 22 October 1973 and a
1999 graduate of Sharia Faculty of IAIN Syarif Hidayatullah
Jakarta. Now is completing Post Graduate program, Majoring
Human Resource, at STIE Kusuma Negara East Jakarta.
His career as Executive Secretary Officer began on July
2010. Seminar attended was Legal Aspects of Islamic Asset
Securitization & Insolvency Regime, 5th IFSB.
Duties and Responsibilities of secretary to DPS are:
a. Preparing DPS Sharia Supervision Report each semester
to BI and DSN-MUI, including Board of Commissioners
and Board of Directors
b. Ensuring all DPS communication processes with BSM
management and other parties run well.
c. Providing assistance for related work unit in implementing
sharia principles and provisions.
d. Providing assistance for acceleration process of DPS
Service Level Agreement (SLA) optimally.
146
a. Audit Committee Duties and
Responsibilities
PT Bank Syariah Mandiri Audit Committee main duties,
as stipulated on the Audit Committee Charter, are to
assist the Board of Commissioners by giving opinion
statement on the report and on problems submitted by
the Board of Directors to Board of Commissioners, to
identify problems that need Board of Commissioners
concern and to perform other duties related to the
Board of Commissioners duties.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Referring to the Head of Capital Market Supervisory
Agency (BAPEPAM) decree No. Kep-29/PM/2004
dated 24 September 2004, Audit Committee duties
are:
1 Reviewing the financial information that will be
issued by the Bank such as, financial reports,
projection and other financial information, in
compliance with the accounting standard generally
accepted in Indonesia and compliance with
disclosure pursuant to the prevailing laws,
2. Reviewing the Bank’s compliance with Laws
related to the business activities,
3. Reviewing the good corporate governance (GCG)
implementation
4. Reviewing the implementation of the assessment
by external auditor (public accountant) including
recommendation on appointment and termination,
contract, coverage, audit and fee planning, external
audit report, and management letter, external
auditor performance and ensuring compliance with
professional standard, especially independency,
and monitoring follow up to the audit results,
5. Reviewing the follow up of audit report conducted
by bank supervisory authority, stock exchange and
other institutions,
6. Reporting to the Board of Commissioners on
various kind of risks faced by company and the
implementation of risk management by Board of
Directors,
7. Reviewing the complaints related to Bank
8. Reviewing the Internal Bank control system
effectiveness,
9. Reviewing the implementation of assessment by
internal auditor, covering; review on internal audit
charter, review on annual audit work plan, review
on internal audit performance effectiveness, review
on audit report and follow up of audit result and
review on internal audit structure function,
10.Preparing Charter, Work Guideline and Audit
Committee Work Plan,
11.Securing document confidentiality, data and bank
information,
12.Performing other duties assigned by the Board of
Commissioners.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Referring to Bank Indonesia Regulation No.11/33/
PBI/2009 dated 7 December 2009 on GCG
Implementation for Sharia Commercial Banks, Sharia
Work Units, the Audit Committee duties are:
(1) Evaluating internal audit implementation to assess
internal control adequacy including financial report
process adequacy, such as:
a. The implementation of duties conducted by
Internal Audit Function,
b. The implementation of follow-up by Board
of Directors on the findings of audit and/
or recommendation from the result of Bank
Indonesia supervision, internal auditor, Sharia
Supervisory Board, and/or external auditor,
to provide recommendation to Board of
Commissioners.
(2) Providing recommendation on the appointment of
Public Accountant and Public Accountant Office to
the Board of Commissioners
b. Audit Committee Membership
Structure
As of 30 June 2011 Audit Committee membership
of PT Bank Syariah Mandiri is made up 4 (four)
personnel consisting of 1 (one) chairman from
Independent Commissioner, 1 (one) member from
Independent Commissioner and 2 (two) members from
external, independent Party as follows:
n Abdillah, Independent Commissioner, Chairman.
n Ramzi A.Zuhdi, Independent Commissioner,
member.
n Kasmadi Adrianto, Independent Party, member.
n
Tjeppy Kustiwa, Independent Party, member
Referring to the Board of Directors Decree of PT Bank
Syariah Mandiri No. 13/342-KEP/DIR dated 27 July
2011, it is decided that as of 1 July 2011 one of Audit
Committee members, Kasmadi Adrianto, declared to
resign from his membership at the Audit Committee
PT Bank Syariah mandiri, and as of 1 August 2011 his
147
good corporate
governance
position is replaced by Ferry Firmansyah, Independent
Party. As the result, Audit Committee Personnel as of 1
August 2011 looks as follows:
n Abdillah, Independent Commissioner, Chairman.
n Ramzi A. Zuhdi, Independent Commissioner,
member.
n Tjeppy Kustiwa, Independent Party, member.
n
Ferry Firmansyah, Independent Party, member.
In performing duties, the Audit Committee is
responsible to the Board of Commissioners
c. Qualification and Independency of
Audit Committee Members
148
Based on Bank Indonesia Regulation Number 11/33
/ Pbi/2009 on the Implementation of Good Corporate
Governance for Islamic Banks and Sharia Business
Units, Article 36 Paragraph (1) , the qualifications of
members of the Audit Committee consist of at least:
(a). an independent commissioner; (b). an independent
party with expertise in financial accounting, and (c). an
independent party with expertise in Islamic banking.
Explanation to Article 36 Paragraph (1), the term
“independent party” is a party outside the Sharia
Commercial Bank (BUS) that does not have: a.
financial, management, ownership and / or family
relationship with the controlling shareholders, the
Board of Commissioners and / or members of the
Board of Directors; or b. financial relationship and / or
stock ownership with the BUS.
The Composition of Audit Committee consists of a
chairman who is held by an independent commissioner
and 3 (three) members, consisting of 1 (one)
independent commissioner and 2 (two) from an
independent party.
Qualification and Independency of Audit Commitee
Member
Qualification
Abdillah
Ramzi A.
Zuhdi 1. Independent Commissioner v
2. Independent Indicator
• Do not have a financial
relationship
• Do not have a relationship of stewardship
• Do not have a shareholding
• It has no family relationship with the controlling
shareholder
Tjeppy Ferry
Kustiwa Firmansyah
v
-
-
-
-
v
v
-
-
v
v
-
-
v
v
-
-
v
v
-
-
v
v
d. Audit Committee Activities 2011
In 2011, the Audit Committee performed duties
complying with the prevailing provisions, including
such activities as:
1. Preparing Review
a) Preparing review on BoD’s Proposed
Correction on BoC and BoC Joint Decree
(SKB) on Draft Audit Committee Charter (27.
01. 2011)
b) Preparing review on PT Bank Syariah Mandiri
Internal Control System Policy (08.02.2011).
c) Preparing review on Internal Audit Division
activities Quarter III year 2010 (17.02.2011).
d) Preparing Internal Audit Division review
activities Quarter IV of 2010 (02/03/2011).
e) Preparing Financial Report Audit review on 31
December 2010. (13.09.2011).
f) Preparing the reviews on Internal Audit Division
activities year Quarter I, 20109/13/2011)
g) Preparing the reviews on the Report of Review
on BSM Internal Audit Division Quality by
Pricewaterhouse Coopers (PwC) (09/14/2011)
h) Preparing Internal Audit Charter study of PT
Bank Syariah Mandiri in 2005 (28/09/2011).
i) Prepare review the activities of the Internal
Audit Division II Quarter Year 2011
(12/10/2011).
k) Preparing review on PT Bank Syariah Mandiri
Internal Audit Charter year 2005 (02.03.2011).
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
l) Preparing review on Publishing Financial
Statement of PT Bank Syariah Mandiri in
position 30.06.2011 (23.08.2011).
m) Preparing review on Internal Audit Division
activities Quarter II 2011 (12.10.2011).
n) Preparing review on Progress Report for
Bank Operational Provisions Completion with
Flowchart Project (22.08.2011).
o) Preparing reviewon Progress Report for
Bank Operational Provisions Completion with
Flowchart Project (22.08.2011).
p) Preparing review on PT Bank Syariah Mandiri
Publication Financial Report for 30.06.2011
position (23.08.2011)
2. Audit Committee Meeting
Audit Committee Meeting sessions are conducted
during BoD and BoC joint meeting, BoC and BoD
joint meeting as well as BoC meeting. In addition
Audit Committee Meeting is also conducted
with work units to to discuss the result of Audit
Committee review on specific activities. Audit
Committee’s special meetings in 2011 are as
follows:
a) Discussion on Zfinancial Report per 31
December 2010 that would be reported to
Board of Commissioners (01.03.2011)
b) Discussion on subjects related to Accounting
Policy and Guideline for software, KAP
procurement 2011, DAI Audit Plan 2011,
Internal Control Socialization by DAI, etc.
(15.03.2011).
c) Discussion on wadiah fund for Qardh and Ujrah
(04.03.2011).
d) Discussion on meeting result with
Pricewaterhouse Coopers (PwC) on DAI
Function Review by PwC (14.04.2011)
e) Discussion on Financing Problem (NPF, IRR)
Advance Payment ( BDD) Fee Based Income
(Haj Bridge Financing, Pawn) (02.05.2011)
f) Discussion on Financing problems on
Musyarakah, Qardh, Hajj Bailout, Pawn,
Capital; Usage Analysis and reserve to fund
Qardh and fixed asset. (24.05.2011).
g) Discussion on Accounting treatment for Hajj
Bridge Financing Fee ( 06.06.2011)
h) Discussion on SOP equipped with flowchart
due to the implementation of internal control in
BSM (02.08.2011).
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
i) Discussion on deferred tax due to RBB
(24.08.2011).
j) Discussion on Bank Indonesia Regulation (PBI)
No.11/2009 on the implementation of Risk
Management for Commercial bank and GCG
Implementation for BUS and UUS(29.09.2011).
3. Number of Internal Meeting and The Attendance
of Audit Committee Member Year 2011
Period of January – Juli 2011
Name
Abdillah
Ramzi A Zuhdi
Tjeppy Kustiwa
Kasmadi Adrianto*)
Number of Meeting
16
16
16
16
Attendance
16
16
16
11
Period of August – December 2011
Name
Abdillah
Ramzi A Zuhdi
Tjeppy Kustiwa
Ferry Firmansyah**)
Number of Meeting
16
16
16
16
Attendance
16
16
16
5
Keterangan: *) Resign in June 2011
**) Active in July 2011
4. Non-Internal meetings attended by the Audit
Committee:
a) Board of Commissioners- Board of Directors
Meetings
Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in December 2010
(25.01.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in January 2011
(24.02.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile and Miscellaneous in
February 2011 (24.03.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile month in 2011
(26.04.2011)
n
149
good corporate
governance
Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in April 2011
(26.05.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in May 2011
(22.06.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in June 2011
(21.07.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in July 2011
(25.08.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in August 2011
(20.09.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in September 2011 and
Miscellaneous (20.10.2011)
n Evaluating performance and Bank
Soundness Rate and PT Bank Syariah
Mandiri risk profile in October and
miscellaneous(18.11.2010).
n Discussion on Corporate Plan, Bank
Business Plan Year 2012 and Preparation
for Coordination Meeting (24.11.2010)
n Evaluating performance and Bank Health
Rate and PT Bank Syariah Mandiri profil
risk in November 2011 2011 (20.12.2011)
Review on Quality Assurance Review
(QWR) by Pricewaterhouse Coopers (PwC)
(13.04.2011)
n Discussion on management’s request for
approval from Board of Commissioners
to mortgage of BSM assets (charges) to
the debtor (PT Sarana Multigriya Finansial
n
n
-Persero/SMF). (09.09.2011).
b) BoC-BoD Joint Meeting (RAKOMDIR)
n Discussion on Financing Restructuring due
to the restructuring policy & strategy and
collection (09.08.2011)
n Discussion on the development of New
Core Banking Implementation (NCBS)
implementation (13.12.2011).
n Discussion on follow up of Bank Indonesia
Direction on BSM iB Gold Pawn and Write
Off Implementation (16.12.2011)
c) Board of Commissioners Meeting
n Discussion on Bank Business Plan PT
Bank Syariah Mandiri 2011 (24.01.2011)
n Board of Commissioners meeting with
Public Accountant Office,Ernst & Young, on
“ The Report of Financial Report Audit for
31 December 2010 position”
150
.
d) Meetings with Head of Work Units
n Meeting with Accounting Division and KAP
PSS-EY on ” “Adjustment Audit, Disclosure
and Management Letter for BSM
Financial Report per 31 December 2010”
(14.02.2011)..
n Meeting with System and Procedure
Division (DSP) on ” BSM Internal Control
Policy Discussion” (21.02.2011)
n Meeting with Internal Audit Division to
discuss Internal Audit Division Activities
Report Quarter III and IV year 2010 (
30.20.2011) .
n Meeting with NCBS Implementation Advisor
( Agus Tri Widodo) to discuss NCBS
implementation stages by parallel run.
(31.05.2011).
n Meeting with Internal Audit Division to
discuss DAI Performance until June 2011
(15.07.2011).
n Meeting with Accounting Division to
discuss the Report of Price Negotiation
Result for Financial Report Audit Service
Book Year 2011 between Audit Service
Procurement Team (TPJA) and KAP PSSEY (06.10.2011).
n Meeting with KAP PSS-EY, Accounting
Division and Internal Audit Division on “
Kick Off Meeting Audit 31 December 2011
by KAP PSS-EY” (18.10.2011).
n Meeting with KAP PSS-EY, Accounting
Division and Internal Audit Division, to
discuss audit plan for branches and others
(27.10.2010)
n Meeting with Accounting Division to discuss
mechanism for profit sharing calculation of
BSM Deposit (10.11.2011).
Other Activities
n Preparing Audit Committee Work Plan Year
2011 ( 02.01.2011)
n Preparing Audit Committee Activities Report
Year 2101 (11.01.2011)
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Acceleration and Extension of Indonesian
Economy Master Plan Project (MP3EI)
launched in 2011 and will continue
until 2014 gives opportunities for sharia
banking to channel financing in syndication.
Discussion on Audit Committee Report in
PT Bank Syariah Mandiiri Annual Report
Book Year 2010 (17.01.2011)
n Discussion on the letter of Board of
Commissioner to Board of Directors on
Board of Commissioners correction towards
Draft of Audit Committee Charter Revision
(07.01.2011)
n Attending workshop on ” The Arrangement
of Guideline for Audit Committee and Risk
Monitoring Committee for Commercial
Bank and Sharia Bank ” at LPPI ( 13 up to
14.10.2011).
n Attending seminar on “ The Role of Good
Governance Guideline for Sharia Business
(GBBS) in Indonesia ” at LPPI ( 3. 11.2011)
n AttendingPanel Discussion on “Further
Review on New PSAK Implementation
prevailed in 2011 and 2012” Financial ClubGraha CIMB Niaga, Jakarta (17.11.2011)
n Attending the opening of PT Bank Syariah
Mandiri Work Meeting (Raker) in the end of
year 2011 ( 23.12.2011)
n
e. Committee Independent Member
Profile
Tjeppy Kustiwa
Member of Audit Committee & Risk Monitoring
Committee
Born in Bandung on December 17, 1957. Graduates
of the Faculty of Economics Department of Accounting
University of Padjadjaran Bandung in 1985 and S2
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Master of Management Gadjah Mada University
in 1994. Attending various training and seminars,
among others, in fields related to the duties of the
Audit Committee, Accounting, Banking, Financial
Restructuring and Go Public Procedure, Consolidation
Financial Report and Information Technology. She
started her career at Bank Bumi Resources 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 BSM.
Ferry Firmansyah
Member of Audit Committee
Indonesian citizen, born in Jakarta, 29 April 1995. A
Graduate (S1) in the fields of Accounting, University of
Indonesia (UI 1983).
Career: Executive Officer at Bank Mandiri, in Bapindo
Executive Officer, Senior Accountant PT 3M Indonesia.
2. Risk Monitoring Committee
In effort to implement Good Corporate Governance as
required in Bank Indonesia Regulation No.11/33/PBI/2009
dated 7 December 2009 on The Implementation of Good
Corporate Governance for Sharia Commercial Bank and
Sharia Business Unit. Bank’s Board of Directors and Board
of Commissioners have established Risk Supervisory Board
in PT Bank Syariah Mandiri.
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good corporate
governance
As a form of accountability of Risk Monitoring Committee
performance for the period of 1 January 2011 until 31
December 2011 is hereby delivered Activity Report of Bank
Risk Monitoring Committee in 2011.
a. Duties and Responsibilities of Risk
Monitoring Committee
Compliant with Bank Indonesia Regulation No
11/33/PBI/2009 dated 7 December 2009 on The
Implementation of Good Corporate Governance for
Sharia Commercial Banks and Sharia Business Units
and as stipulated on article 3 Charter of Bank Risk
Monitoring Committee dated 9 February 2011, Risk
Monitoring Committee has function to help Board of
Commissioners to:
1. evaluate the risk management policy
2. evaluate the conformity of risk management policy
with the implementation;
3. evaluate performance of Risk Management
Committee and Risk Management Work Unit; to
assist the Board of Commissioners in supervising
and giving advice to the Board of Directors.
responsible to Board of Commissioners.
c. Qualification and Independency
of Risk Monitoring Committee
Members
Based on BI Regulation No 11/33/Pbi/2009 On Good
Corporate Governance for Sharia Commercial Bank
and Sharia Business Unit, article 36 paragraph(1)
that Audit Committee member qualifications at the
minimum consists of: a. an independent commissioner;
b. an independent party having skill in financial
accounting; c. an independent party having skill in
sharia banking.
The explanation to Article 36 paragraph (1), the term
“an independent party” is a party outside BUS that
does not have: a. financial relationship, management,
share ownership and/or family relationship with BUS
controlling share ownership.
Membership composition consists of a chairman
served by Independent Commissioner and 3 (three)
members: independent commissioner and 2 (two)
people from independent parties.
b. Risk Monitoring Committee
Membership Structure
As of 31 July 2011 the structure of Bank Risk
Monitoring Committee membership consists of 4 (four)
personnel, consisting of 1 (one) Chairman assumed
by Independent Commissioner, 1 (one) member from
Independent Commissioner, 1 (one) member from
Commissioner and 1 (one) member from non the
management as follows:
n Ramzi A Zuhdi: Chaiman/ Independent
Commissioner
n Abdillah: Member/ Independent Commissioner
n Lilis Kurniasih: Member/Commissioner
n
As from 1 August 2011, the structure of Bank Risk
Monitoring Committee Personnel underwent a
changed as follows
n Ramzi A. Zuhdi: Chaiman/ Independent
Commissioner
n Abdillah: Member/ Independent Commissioner
n Lilis Kurniasih: Member/Commissioner
n Edyanto Rachman: Member
n
152
Edyanto Rachman: Member
Tjeppy Kustiwa: Member
In implementing duties, Risk Monitoring Committee is
Qualification and Independency of Risk Monitoring
Commitee Member
Qualification
1. Independent Commissioner
2. Independent Indicator
• Do not have a financial
relationship
• Do not have a relationship of stewardship
• Do not have a shareholding
• It has no family relationship with the controlling
shareholder
Ramzi A. Abdillah
Lilis
Edyanto Tjeppy
Zuhdi Kurniasih Rachman Kustiwa
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d. Risk Monitoring Committee Activities
2011.
Risk Monitoring Committee Activities in 2011 covered
such activities as:
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
1. Preparing Review
In 2011 Risk Monitoring Committee has
performed a number of activities including
preparing reviews such as:
a) Completing Charter of Risk Monitoring
Committee compliant with the most recent
regulations and laws (Bank Indonesia
Regulation No. 11/33/PBI/2009 dated 7
December 2009 on The Implementation
of Good Corporate Governance for Sharia
Commercial Banks and Sharia Business
Units and Charter of Good Corporate
Governance – PT Bank Syariah Mandiri
No. 12/002-SKB/KOM.DIR dated 27
December 2010) (31.01.2011)
b) Completing risk profile development internal
version due to credit risk and operational
risk and reviewing on parameter completion
of risk control system ( 12.01.2011 and
22.03.2011)
c) Preparing review on the write-off financing
in 2010 (02.20.2011)
d) Preparing review on Small Business Loan
(KUR) Financing Program based on BI
findings ( 02.2011)
e) Preparing review on fraud cases in 2010
based on DAI finding (05.2011)
f) Preparing review on reputation risk over
ATM transaction failure (06.2011).
g) Preparing review on Trial Report of Disaster
Recovery Plan (DRP) implementation
(22.06.2011)
h) Preparing review on Operation Risk due
to the delay in submitting the of Report of
Head Office of Commercial Bank (LKPBU)
to Bank Indonesia (08.2011).
i) Preparing review on fraud case JanuarySeptember 2011 based on DAI finding
(12.2011).
2. Risk Monitoring Committee Meeting
Risk Monitoring Committee Meeting is
performed through the meeting in attending
BoC Meeting , BoD Meting and BoC and BoD
Meeting with the focus on the monitoring of
Risk management implementation and with
Head of Work Unit.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Period January - July 2011
Name
Amount of Meeting
Attendance
Ramzi A Zuhdi 9
9
Abdillah
99
Lilis Kurniasih
9
9
Edyanto Rachman
9
9
Period August - December 2011
Name
Amount of Meeting
Attendance
Ramzi A Zuhdi 9
9
Abdillah
99
Lilis Kurniasih
9
9
Edyanto Rachman
9
9
Tjeppy Kustiwa* 9
2
Note: *) Become a member of the Risk Monitoring Committee since
August 1, 2011
3. Non Internal Meeting Attended by Risk
Monitoring Committee:
a) BoD – BoC Joint Meeting (Radirkom)
1) Evaluating performance, risk profile and
Bank health rate month of December
2010 (25.01.2011)
2) Evaluating performance, risk profile
and Bank health rate month of January
2011 (24.02.2011)
3) Evaluating performance, risk profile and
Bank health rate month of February
2011 (24.03.2011)
4) Evaluating performance, risk profile and
Bank health rate month of March 2011
(26.04.2011)
5) Evaluating performance, risk profile and
Bank health rate month of April 2011
(26.05.2011)
6) Evaluating performance, risk profile and
Bank health rate month of May 2011
(22.06.2011)
7) Evaluating performance, risk profile and
Bank health rate month of June 2011
(21.07.2011)
8) Evaluating performance, risk profile
and Bank health rate month of July
2011 and report of New Core Banking
System Development (25.08.2011)
9) Evaluating performance, risk profile and
Bank health rate month of August 2011
(20.09.2011)
10)Evaluating performance, risk profile and
Bank health rate month of September
2011 (20.10.2011)
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good corporate
governance
11)Evaluating performance, risk profile
and Bank health rate month of October
2010 (18.11.2011)
12)Discussion on Bank Business PlanPT Bank Syariah Mandiri Year 2012
(24.11.2011)
13)Evaluating performance, risk profile and
Bank health rate month of November
2011 (20.12.2011).
b) BoC-BoD Joint Meeting (Rakomdir)
1) Discussion on Trouble Financing
(Financing Restructuring) (09.08.2011).
2) Discussion on the development of New
Core Banking System Implementation
(NCBS) (13.12.2011)
3) Discussion on the development of
Pawning Business and write –off
financing Year 2011 (16.12.2011).
c) Meeting with Head of Work Unit
Risk Monitoring Committee in report year
hosted special meeting with head of work
unit to discuss finding on fraud case with
DAI ( 30.03. 2011), The development of
inherent risk parameters for Bank Risk
profile due to credit risk and operation risk
(12.01.2011) and parameter of risk control
system with DMR (22.03.2011), liquidity
management risk with DTI (16.8.2011) and
Compliance index with DKN (04.11.2011)
154
Other Activities
a) Preparing Risk Monitoring Committee
annual report Year 2010 (07.02.2011)
b) Preparing Risk Monitoring Committee Work
Plan year 2011 (28.01.2010)
c) Attending Board of Commissioners meeting
with Public Accountant Office (KAP) Ernst &
Young (14.02.2011)
d) Preparing Monitoring report on analysis
of Non Performance Financing growth(
based on the financing age: 0-6 months,
6-12 months, 12-24 months) based on
the corporation segment, UMKM and
Consumer .
e) Together with Audit Committee, attending
Accounting Division explanation on ”
Calculation Mechanism for Deposit Profit
Sharing in BSM” (10.10.2011)
f) Attending workshop on ”Work Guidelines
Arrangement for Audit Committee and Risk
Monitoring Committee for Commercial Bank
and Sharia Bank” at LPPI (13.-14.10.2011)
g) Attending Bank Work Meeting opening end
of year 2011 (23.12.2011)
e. Independent Committee Member
Profile
Edyanto Rachman
Member of Risk Monitoring Committee
Indonesian citizen, born on Cirebon, March 24, 1954.
Masters Degree in Management at the University of
Indonesia (UI 1991), Received Bachelor Degree (S1)
in Physics at the Bandung Institute of Technology (ITB
1978).
Career: Commissioner of PT Wahana Optima Permai,
Executive Officer at Bank Mandiri, Acting Executives at
Bapindo, PT Astra Motor Sales Supervisor.
3. Remuneration & Nomination
Committee
Remuneration and Nomination Committee was
established to assist the Board of Commissioner in
performing company supervision, especially to ensure that
Remuneration and Nomination system/policy of Company
be arranged and implemented based on fairness and
transparency and complied with prevailing laws.
a. Remuneration & Nomination
Committee Duties and
Responsibilities
1) To evaluate remuneration policy
2) To provide recommendation to Board of
Commissioners on:
a) Remuneratin policy for Board of
Commissioners and Board of Directors to be
conveyed to RUPS.
b) Remuneration policy for Executive Officials and
emplyee in general to be conveyed to Board of
Director through Board of Commissioners.
3) To prepare and provide recommendation on
the system and procedure of election and/or
replacement of Board of Commissioners and Board
of Directors member to Board of Commissioner to
be conveyed to RUPS.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Remuneration and Nomination
Committee was established to
assist the Board of Commissioner
in performing company supervision,
especially to ensure that Remuneration
and Nomination system/policy of
Company be arranged and implemented
based on fairness and transparency
and complied with prevailing laws.
4) To provide recommendation on the candidate of
Board of Commissioners and/or Board of Directors
to Board of Commissioners to be conveyed to
Remuneration & Nomination Committee member
at least consists of: a. 2 (two) Independent
Commissioners; and b. an Executive Officer in charge
RUPS.
of Human Capital.
b. Structure of Remuneration and
Nomination Committee Member
Susunan Anggota Komite Remunerasi dan Nominasi
Name
Position
Achmad Marzuki Chairman (Independent Commissioner)
Abdillah Member (Independent Commissioner)
Tardi
Member (Commissioner)
Eka B. Danuwirana
Member (Head of Division)
Achmad Fauzi
Member (Head of Division)
Composition of Remuneration&Nomination Committee
consists of a chairman served by Independent
Commissioner and 4 (four) members, they are an
independent commissioner, a commissioner, and 2
(two) from Executive Officer (Head of Division).
Qualification and Independency of Remuneration and
Nomination Committee
Qualification
1. Independent Commissioner
2. Independent Indicator
• Do not have a financial
relationship
• Do not have a relationship of stewardship
• Do not have a shareholding
• It has no family relationship with the controlling
shareholder
c. Multiple Job Title of Remuneration
and Nomination Committee Member
1) No member of the Board of Directors and another
Bank’s Board of Directors becomes Remuneration
and Nomination Committee member.
2) Chairman of Remuneration and Nomination
Committee has no double title as chairman in other
Achmad Abdillah Tardi
Eka B.
Achmad
Marzuki DanuwiranaFauzi
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committee.
d. Qualification and Independency
of Remuneration & Nomination
Committee Member
Based on BI regulation No 11/33/Pbi/2009 on the
Implementation of Good Corporate Governance
for Sharia Commercial Banks and Sharia Business
Units, Article 35 Paragraph (1) that qualification of
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
e. Remuneration and Nomination
Committee Performance Report
Remuneration and Nomination Committee holds
meetings as necessary. During 2011, The Committee
held 4 (four) meetings with several important agenda
such as:
155
good corporate
governance
a) Meeting on remuneration program for Bank
Employees
b) Meeting on subjects for Shareholders General
Meeting (RUPS) and Extraordinary RUPS
c) Discussion on the follow up of RUPS, such as
discussing facilities /allowance for DPS, full-term
allowance of DPS members, salary of Committees
under the Board of Commissioners and
membership of Audit Committee/Risk Monitoring
Committee.
d) Discussion on facility/allowance for Board of
Directors including Car Ownership Program.
f. Remuneration and Nomination
Committee Meeting
Meeting of Remuneration and Nomination Committee
Name
Number of Meeting
Attendance
Achmad Marzuki
4
4
Abdillah
44
Tardi
44
Eka B. Danuwirana
4
4
Achmad Fauzi
4
4
g. Remuneration and Nomination
Committee Member Profile
Eka Bramantya Danuwirana - Member
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.
Achmad Fauzi
Member of Remuneration and Nomination Committee
Born in Kuningan West Java 4 November 1965. A
1989 graduate of Economic Faculty, Krisnadwipayana
University, and a 2002 graduate of Magister in
Business Law, Padjadjaran University Bandung.
Joining in BSM since 2005.
VI. Corporate Secretary
The Bank Corporate Secretary is held by the Head of
Corporate Relations & Legal Affairs Division who has a
mission to create good corporate image consistently through
effective communication program management to all
stakeholders.
156
The Board of Directors with the Decree No.104/014-KEP/DIR
dated 22 January 2008, has appointed Corporate Secretary
and Corporate Secretary Executive who has multiple job
title as Head of Corporate Relations & Legal Affairs Division
(DKH).
To keep the job functions running, the Corporate Secretary
is complemented with the legal function, corporate events,
protocol , communications/promotion, media relations and
institutional relations in dealing with the external and internal
parties.
1. Duties and Responsibilities of Corporate
Secretary
The functions and roles of Corporate Secretary in
the Bank with all supporting units are governed in the
Management Decree No. 10/104-KEP/DIR dated 22
January 2008 with the main duties and responsibilities
consisting of:
1. Monitoring the market developments and external
conditions of BSM, particularly concerning with the
prevailing law and regulations on Sharia banking;
2. Providing the public with information about BSM, and
information needed by external parties concerning with
internal and/or specific subjects that the public want to
know about;
3. Providing inputs to the BSM Board of Directors
concerning the prevailing law and regulations such
as the Limited Liability Company Law, Sharia banking
stocks and bonds, the capital market along with its
operational regulations;
4. Serving as the liaison between BSM and external
institutions representing the public;
5. Reminding the BSM Board of Directors about
responsibilities on optimizing GCG implementation
in line with the company goals for creating a better
corporate image and sustainable profit growth;
6. Ensuring effective functions of the Board of
Commissioners, Board of Directors, DPS and
Committees;
7. Coordinating Self Assessment and Reporting of GCG
implementation by BSM in conformity with PBI, GCG
and Bapepam;
8. Preparing the List of Shareholders, Special list of BoD
and BoC members along with their family members
concerning with share ownership, business relations
and other roles that may cause conflict of interests;
9. Attending the BoD and BoC meetings and preparing
the meeting report;
10.Organizing the annual Shareholders General Meeting.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Relationship with the stakeholders is maintained through
analyst gathering, public expose, publishing of quarterly,
semi-annual and annual financial performance bulletins.
Shareholders and other stakeholders can access
information about BSM and its activities to the website
www.syariahmandiri.co.id.
In addition, considering employees as one of important
element in creating company image, Bank Corporate
Secretary also has duty to spread information about
BSM to all employees, including the information about
management program and policy. The information is
delivered through internal media such as: BSM bulletins,
Monday Morning Pray Forum, Wednesday Teaching,
Friday Morning Dzikir, newslaetter, intranet, gathering, and
socialization to regional and branch offices.
c. Franchise & License Expo, Sharia Economy
Festival in Surabaya and Exhibition on KUR TKI
Inauguration in Surabaya
d. Asia Pacific Conference and Exhibition (Apconex)
e. Financing Cooperatives and UMKM Expo
f. REI Expo in Jakarta
g. Banking Clinic Activities
h. Agrinex Expo
i. Banking and UMKM Bazaar in Surabaya
4. Hosting a number of Corporate Social Responsibility
(CSR) program events such as:
a. Mass Circumcision
b. Donation to orphans
c. Fasting Break Session with 1000 orphans
d. Qordhul Hasan Financing
e. Community Empowering by mushroom cultivation
f. Mosque Construction
2. Organization Structure of Corporate
Secretary
Head of
Division
Vice Head
of Division
Division
Secretary
Executive
Secretary
Head of
Secretarial &
Archival
Head of Protocol
& Domestic
Head of
Communication
& Promotion
Head of
Corporate event
Head of
Corporate Law
& Litigation
Head of
Financing Law
PS Budgeting / Report
Ps Media Relation
3. Corporate Secretary Realization of Work
Among activities performed by Corporate Secretary in
2011, in relation with the stakeholders include:
1. Media Gathering attended by Journalists and BSM
2. Signing of Memorandum of Understanding (MoU) with
BSM partners
3. Organizing various events for enhancing the good
image of BSM including:
a. UMKM Awards ceremony
4. Corporate Secretary Profile
Achmad Fauzi
Head of Corporate & Legal Relationship Division (DKH)
Born in Kuningan West Java 4 November 1965. A
1989 graduate of Economic Faculty, Krisnadwipayana
University, and a 2002 graduate of Magister in Business
Law, Padjadjaran University Bandung. Joining in BSM
since 2005.
b. Participation in the Islamic Book Fair
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
157
good corporate
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5. List of Press Releases issued by BSM in 2011
NoTitle
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
XL-BSM providing Instan Transfer Service
BSM Hosted Training for Teachers
BSM Gave Scholarship for Rindu Purnama Actors/actresses BSM inagurated Hayam Wuruk Branch
Mandiri added more Capital to BSM Rp 200 M
BSM signed Financing Cooperation with Pegadaian
Fulfilling Human Resource Need, BSM cooperates with University of Indonesia
BSM Net Profit in 2010 incresed to 43,85%
BSM Net Profit Quater I in 2011 increased to 54.35%
Bank Syariah Mandiri (BSM) organized BSM Gelegar Hadiah III
Best Finance-BSM signed Financing Cooperation
Encouraging Small Business Growth, Mandiri and BSM channelled KUR RP 6,3 T BSM visited Sampit in Central Kalimantan
BSM supported Taman Rasuna Festival
BSM launched wakaf for one million Al-Qur’an BSM Net Profit Quarter I 2011 Rp270 M BSM received The Best Islamic Bank from The Asset Hongkong
BSM Raih Penghargaan Annual Report Award 2010
BSM received Annual Report Award 2010
BSM cooperates with Victoria Bank for Money Transfer
BSM received The Best Islamic Bank in Indonesia from Asiamoney
BSM helped famine victims in Somalia
BSM’s Asset Quarter III 2010 increased 55,12%
BSM held UMKM Awards
Bank Mandiri added more capital to BSM Rp300 billion BSM Rating improved to AA+ (idn) Date
17 January 2011
19 January 2011
8 February 2011
3 March 2011
18 March 2011
8 April 2011
10 April 2011
19 April 2011
24 May 2011
25 June 2011
27 June 2011
6 July 2011
14 July 2011
16 July 2011
12 August 2011
24 August 2011
6 September 2011
15 September 2011
27 September 2011
1 October 2011
3 November 2011
15 November 2011
16 November 2011
24 December 2011
29 December 2011
12 December 2011
6. List of Media Monitoring during 2011
Media 2011
140
128
120
109
100
72
2
Detik
1
3
Tempo Mag
0
Suara Pembaruan
1
Sinar Harapan
Suara Karya
Sharing
1
11
Suara Merdeka
16
Republika
4
Rakyat Merdeka
1
Pikiran Rakyat
2
Radar Banyumas
Kompas Cyber
Kompas
Jurnal Nasional
Kedaulatan Rakyat
2
18
12
Trust Magazine
14
7
1
Jawa Pos
Investor Daily
Harian Seputar Indonesia
Harian Konten
Harian Neraca
Bisnis Indonesia
Indo Pos
2
0
Infobank
11
7
SWA
2
20
158
33
30
Media Indonesia
37
40
Marketeers
31
Koran Tempo
60
60
Jakarta Post
80
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM performed media monitoring related to the Bank,
compiling a total of 618 news files. BSM media monitoring
involved as many as 29 national print media written in two
languages, both Indonesian and English.
7. BSM Correspondence Data in 2011
In 2011, BSM sent 75.884 outgoing letters and received
57,101 incoming letters. The budget spent on outgoing
letters during 2011 reached Rp554.60 million.
F.Board of Commissioners and/or
Board of Directors Assessment
In 2011, no specific assessment was made on the Board
of Commissioners performance. However, the GCG
implementation self assessment has been performed that
involved the performance of Board of Commissioners /
Board of Directors using Balance Scorecard (BSC) by
internal Bank (Planning and Development Management
Division-DPM)
Internal Bank Self Assessment for BoC 2011
BSM GCG Implementation Self Assessment refers to
the assessment aspects such as Governance Structure
Implementation, Corporate Governance Policy, Corporate
Governance Disclosure and Audit as well as Internal
Control System. Internal self assessment is conducted
by the Board of Commissioners, Board of Directors, and
Head of Work Unit. Materials used to conduct GCG self
assessment are Laws of Republic of Indonesia, Bank
Indonesia Regulations and other prevailing regulations.
Self assessment materials are divided into several aspects
such as:
1. Governance Structure Implementation
2. Corporate Governance Policy
3. Corporate Governance Disclosure
4. Audit and Internal Control System
The result of internal self assessment conducted for Board
of Commissioners are presented in the following table.
BoD Balanced Scorecard (BSC) Assessment 2011
Board of Directors performance assessment 2011 was
based on the Balanced Scorecard (BSC). The Bank
uses BSC assessment as the framework of company
performance management that is expected to become
Result of Internal Self Assessment of GCG Implementation for Board Commissioners
Name Description
Governance Structure 0.34
Corporate
Governance
Policy 0.20
Corporate Governance
Disclosure Audit & Internal
Control
System Total
(∑ a,b,c,d)*100
0.17
95.36
Ahmad Marzuki
President Commissioners, Independent Commissioners
Abdilah
Independent Commissioners0.34 0.200.25
0.17 95.52
Ramzi A. Zuhdi
Independent Commissioners0.33 0.180.25
0.17 93.03
Lilis Kurniasih
Commissioners
0.33
0.17
Tardi
Commissioners
0.33 0.200.25
0.20
0.25
0.25
94.79
0.1794.53
Board of Directors Performance Assessment Year 2011 Based on BSC
Parameter
President
Compliance Director
Director Director of Corporate &
Treasury Director of Risk
Management
Director of Small-Micro
Financing Director of
Medium
Financing
Financial
1.03 11.9683.17 29.79 74.87 49.88
Customer
1.6717.70 1.05 23.73 4.6117.95
Internal Process
People Development
Total
87.2517.38 2.54 41.57 10.6719.13
6.83
1.32
3.60
3.93
4.06
96.7895.3888.08 98.69 94.0891.02
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
48.34
159
good corporate
governance
core system of strategic management in improving
company value. BSC supports GCG implementation
optimally, especially in the realization of accountability
principles, so fairness and transparency will be addressed
more to the BSM internal stakeholders.
BSC is based on the need of balance paradigm between
financial and non-financial aspect as the main reflection of
organization performance. BSC is divided into four main
parameters: Financial, Customer, Internal process and
Learning & Growth perspective.
Performance assessment per directorate until 2011 are
presented in the tables..
G. Board of Directors
Remuneration Policy
Remuneration and other facilities refer to the decision of
Shareholders as defined in Shareholders General Meeting
(RUPS) by considering the advice from Remuneration
and Nomination Committee. The process of defining
remuneration is based on the result of study conducted
by Remuneration and Nomination Committee taking into
account the following considerations:
1. Benchmarking based on the salary survey conducted
by Info Bank Magazine Research Bureau in 2010 on
remuneration (salary, bonus, regular allowance, annual
bonus (tantiem) and other facilities) to the closest
competitor and the same salary survey to the peer
group banks;
2. Company performance
3. Inflation in 2010 at the average rate 6.96%.
The result of the study was brought to Board of
Commissioners to be legalized by RUPS.
BSM Policy on remuneration of Board of Commissioners
2011 are as follows:
1. The decision on Remuneration of PT Bank Syariah
Mandiri Management is based on the decree of RUPS
and RUPSLB.
2. List of facilities and allowances for management is
based on joint decree of Board of Directors and
Board of Commissioners PT Bank Syariah Mandiri No
10/002/ DIR>KOM on Facilities and Allowances of the
Board of Directors and Board of Commissioners of PT
Bank Syariah Mandiri.
160
Board of Directors Remuneration
Board of Commissioners remunerations as regulated in
joint decree between Board of Directors and Board of
Commissioners PT Bank Syariah Mandiri No. 10/002/
DIR.KOM. includes: Salary, Tantiem, THR, Vehicle,
communication tools, allowance for communication, official
travel allowance, health facility, after term allowance, and
clothing allowance.
Total remuneration paid to Board of Directors for the
period of 2011 covering salary and other compensations
including tantiem reached the amount of Rp19.793 billion
increased compare to period of year 2010 that reached Rp
15,882 billion. The process of defining remuneration for
Board of Directors is the same as explained in the policy
on remuneration for Board of Commissioners.
Remuneration and other facilities refer to the decision
of Shareholders as defined in Shareholders General
Meeting (RUPS) by considering the advice provided by
Remuneration and Nomination Committee.
Remuneration Policy of Board of Directors
Amount Remuneration per Person for 1 year Amount BoD
Rp2 million to Up
6
Rp1 million until Rp2 million
-
Rp500 billion until Rp1 million
-
Rp500 billion to down
-
Salary ratio the highest to the lowest is as follows:
No.Description
1. Ratio of Employee Salary is highest and lowest Ratio
1 : 25,26
2. Ratio of BoD Salary is highest and lowest 1:1
3. Ratio of BoC Salary is highest and lowest 1:1
4. Ratio of lowest BoD salary & highest Employee salary 1 : 3,15
5. Ratio of highest BoD salary & lowest Employee salary 1 : 73,79
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
H. Information Access
Information access for all Stakeholders is an important
part of internal and external information transparency
principle enhancement, that is expected to assist,
maintain, and enhance knowledge, understanding and
positive perspective from stakeholders towards Bank
policy and activities. Apart from using national print media,
dissemination of information is also carried out by:
1. Internet Site: www.syariahmandiri.co.id.
2. Social Media: Facebook and Twitter
3. BSM Internal Magazine
4.Television/Radio
5. Recitation Forums
6. Communication media between Bank and employees
through various facilities provided such as intranet,
Bank Circulars (SE), morning prayer forum, etc.
Information about BSM can also be accessed from
Corporate Relations & Legal Affairs Division at the
following address:
PT Bank Syariah Mandiri Head Office, Wisma Mandiri I,
Jl. MH. Thamrin No. 5 Jakarta 10340 – Indonesia.
Phone. (62-21) 2300 509, 3983 9000 (hunting). Fax (6221) 3983 2989
Number of “Likes” BSM Fan Page Based on the
Country Period of Year 2011
No Negara 1Indonesia
2
United States
3Malaysia
4
Korea Selatan
5
Central African Republic
6
Saudi Arabia
7
United Kingdom
8Jepang
9Egypt
10Singapore
11Italy
12Congo
13Canada
14Germany
15Hongkong
16Australia
17Spanyol
18Turki
19 Arab Emirates
20India
21France
22Rusia
23Netherlands
Total
Jumlah
20.512
69
61
49
30
30
31
28
21
25
19
17
25
16
13
15
13
13
10
11
9
9
10
21.036
BSM Social Media Development in 2011
Total visitors to BSM social media increased from the
beginning until the end of year 2011. During 2011, the total
number of facebook visitors with “Like” attribute reached
Number ‘Likes” BSM Fan Page Based on Gender
and Age Period of Year 2011
Based on Gender
21,036 visitors, the twitter draws 5,091 followers.
The total access of BSM facebook likes by Gender for the
year 2011 reached 11 940 men or 56%, and 9095 women or
43%, and visitors with unknown attribute 140 people or 1%.
Based on age, number of access of BSM who like facebook
were aged 13-17 years 588 people, aged 18-24 years 9838
people, aged 25-34 years 8345 people, aged 35-44 years
1566 people, aged 45-54 304 people, aged 55-64 years 62
people and aged 65 years and over 472 people.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Based on Age
Unknown
1%
Unknown
1% 13-17
3%
55+
2%
45-54
2%
35-44
7%
Female
43%
18-24
46%
Male
56%
25-34
39%
161
good corporate
governance
I. Family Relationship Between
BoC and BoD, or Shareholders
Number of MoU and PKS Year 2011
Month MOU PKS
January
242
Pebruary
-43
March
381
April
1145
May
152
June
460
July
168
August
3
40
September
-40
October
-51
November
-53
December
-47
Total
15722
Based on BMPD data the related parties have no family
relationship between BoC, BoD, and/or Shareholders.
J. Share and Bond Buyback
Referring to Bank Indonesia Circulars N0.12/13/DPbS, on
Good Corporate Governance Implementation for Sharia
Commercial Banks and Sharia Business Units, dated 30 April
2010 the term share buy back and bond buy back represents
attempts to reduce amount of shares or bonds issued by
buying them back, in which the payment mechanism complies
with the prevailing regulation.
The Bank did not buy back shares and bonds during 2011.
Bank activities during 2011 including:
1. Bank Mandiri added more capital Rp 300 billion to the
Bank in December 2011.
2. Bank issued sub-debt Rp500 billion in December 2011.
3. Bank received financing Rp 450 billion from PT Sarana
Multigriya Finansial and RP300 billion from PT Lembaga
procurement and services, etc.
L.Legal Case 2011
Legal case refers to civil and criminal cases faced by BSM
Legal Case faced by Bank in 2011
Pembiayaan Ekspor Indonesia in 2011.
4. Fitch Rating Agency raised Bank long term rank from AA
to AA+ with stable prospect and subordinated bond rank
.
raised from AA- to AA.
K. Cooperation with Partners
(Including Consultants, Notary
etc.)
In 2011, the Bank fostered cooperation with partners from
various types of businesses. Cooperation with partners
was in the form of Memorandum of Understanding for 15
MoU and cooperation agreement (PKS) for 722 PKS for a
year. Bank’s partners were from various types of institution
such as education, consultant, health service, media, goods
Number
Civil Criminal
Settled
1-
In the process
4
-
Total
5
-
along the period of report year and has been filed through
litigation process.
The chronology of settlement process of legal cases was
faced by the Bank are:
I. PT AS Case
162
Legal Case
1. Claim Value:
Rp22.9 billion consisting of material and non material
claims
2. Present Condition
a. National Board of Sharia Arbitration (Basyarnas)
has passed the verdict that grants a portion of the
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
a. The litigant/AT requested for consideration on 23
August 2011.
b. Defendant/Bank, replied to consideration on 24
claim, worth Rp878.80 million and charges that
must be verified by Public Accountant Office (KAP)
b On 8 June 2011 the Bank requested
Reconsideration (PK) Memory to Supreme Court
(MA)
c. PT AS, has replied the Reconsideration (PK)
Memory by submitting Counter-Memory to PK
d To Handle Reconsideration, the Bank appointed
WIDIANI-SULISTIONO & Partners Law Office
II. PT TE Case
2. Present Condition
a. The case concluded with a verdict on 1 December
2011, the Bank won the case.
b. The litigant requested for consideration on 08
December 2011.
c. The Bank has submitted counter-memory to
consideration.
d. Bank Lawyer handling this case was from TASRIFARFAH-PANGGABEAN Advocate& Legal Counsel
III. PT MBIP Case
1. Claim Value:
The litigant (MBIP) requested for cancellation of
certificate of ownership No. 276/Pemagasari, 37.835
m2 bearing the name of B. Burhanudin that was used
as the collateral in BSM
2. Present Condition
a. BSM requested for cassation on 30 January 2012
on the decree of High Civil Service Arbitration
Tribunal (PTTUN) Jakarta No.134/B/2011/PT.TUN
JKT dated 15 November 2011 in connection with
the Decree of Civil Service Arbitration Tribunal
(PTUN) Bandung dated 5 April 2011.
b. MBIP requested for cassation memory
IV. AT Case
1. Claim Value:
AT claimed Bank with:
a. Material Rp15,000,000
b. Non-material Rp1,000,000,000
V. NK Case
BSM was charged to pay for indemnity and interest for
Law Office
& Partners Law Office
1. Claim Value:
USD484,920.54..
October 2011.
c. Decree to Consideration until December 2011, no
verdict issued yet.
d. BSM lawyer handling this case was K.Sarbini, SH
2. Present Condition:
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
1. Claim Value:
NK claimed Bank with the value:
a. Non-material Rp10.000.000.000,b. Penalty payment (dwangsom) Rp1,000,000,-
2. Present Condition
This case concluded with a verdict on 12 September
2011, with the decision:
a. Declaring that The court has no authority to examine
and try the case No.29/Pdt.G/2001/PN.Pkl.
b. Declaring that the litigant’s claim was rejected
c. Punishing litigant to pay for court fee Rp346.000,d. Lawyer handling this case was from Budiarto,SH
Law Office in Pekalingan
M. Important Strategic Changes
The Follow-up steps performed to strengthen capitalization
are as follows:
1. Paid-in capital addition from Bank Mandiri Rp100
billion in accardance with the revised Bank Business
Plan 2011;
2. Sub-debt issuance realization Rp 800 billion in
accordance with the revised Bank Business Plan 2011;
3. To increase current year profit as the component of
capital;
4. To channel fund on earning assets with low Riskweighted Assets (ATMR) value
N. Expected Subsequent
Developments and Business
Prospects In 2012
1. Economic condition in 2012 will relatively be stable
with the growth rate range 6.2% - 6.7%. (source: BI)
2. Risk of slowdown may affect industrial goods; BI
predicted that export growth will face slowdown due to
163
good corporate
governance
crisis in the United States and Europe.
3. The growth of sharia banking in 2012 will still be
high compared to national banking in line with the
increasing number of sharia banks, whether it is spinoff or conversion; Master Plan project for Acceleration
and Expansion of Indonesian Economic Development
(MP3WI) launched in 2011 will continue until 2014 to
create opportunities for sharia banking to channel
syndicated financing.
4. Attractive Business Prospect are:
a. World demand on CPO is still high. The price of
CPO is stable and quite high.
b. Coal Industry, world demand for coal is still high
such as from China and India
c. Consumer Credit for Motor Vehicles
d. Telecommunication and Credit Business
The Bank has prepared a regulation on the obligation of
Bank’s employees to avoid activities causing conflict of
interests.
1) Every year all Bank Employees must fill in Annual
Disclosure on GSI (GCG Information System)
application.
2) Members of Board of Directors, Board of
Commissioners, Shareholders and DPS abide by the
rules in implementing duties and responsibilities.
3) Member of DPS must disclose multiple job title as DPS
member in other sharia financial institution (if any) in
the GCG implementation report.
4) If there is an activity causing conflict of interests from
the Board of Directors and Board of Commissioners
member, the party involved will be prohibited to make
decision and must gain approval from RUPS.
e. Automotive sector
Cases and settlement of conflict of interest occurred in the
N. Transaction Containing Conflict
of Interests
Bank are as follows:
In the period of 2011, the Bank spotted transactions containing
conflict of interests. However, prevention and settlement had
been taken in conformity with the prevailing regulation so the
Bank could avoid the risk of loss. The following is transactions
settlement containing conflict of interests performed by Bank:
Transaction Containing Conflict of Interest
No.
Trancastions
Action/Prevention
Explanation
1
One of Branch Offices was going to rent a store
for new Auxiliary Branch Office, in the process of
contract/akad it was found that the owner of the store
is one of the Bank Executive.
Branch requested for compliance opinion concerning
with the process of tenancy agreement on the store
owned by one of Bank executive.
The tenancy agreement for the store was
cancelled due to the containing conflict of
interest.
2
Manipulation on the settlement and seling of debtor’s
pawn collateral by Pawn Officer in Auxiliary Branch Office.
Further inspection and investigation by Internal Audit
Division (DAI)
Punishment given to employee conducting fraud
and must return the fund to the Bank
3
Financing proposal by related party
The enforcement of Board of Commissioners’
approval form for applicant as related party.
Bank was out of compliance risk
4
Sidestream practice in financing involving BSM
employee ( Head of Branch Office Regional-1) by
using customer’s name but the fund was used to
finance the business managed by the head of Branch
office and other parties.
Further inspection and investigation by DAI
In the process of settlement according to the
prevailing regulation
O. Conflict of interests
Conflict of interests is a condition in which Bank employees
have interests other than the bank’s interest, be it personal,
family or other party’s interest. Bank employees must know
and avoid activities causing conflict of interests.
164
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Conflict of Interest
No.
Conflict of interest
1
2
The case related to
the financing proposal
to Bank from related
party.
Placement of
employee having
family relationship in
the same work unit.
Settlement
Explanation
Regulation on
the obligation to
disclose and fill out
approval form of
financing proposal
signed by Board of
Commissioners
Circular Letter
applicable for all Bank
employees
The enforcement of
family relationship
form especially for
new employee to
avoid conflict of
interest.
In the process of
settlement, since
2011 predicted to be
accomplished in the
first semester of 2012
Social Funds derive from Penalties, Non Halal Income, and
other Social Funds. The receipt of Social Fund as of 31
December 2011 was Rp2.43 billion, up from the previous
period at Rp1.81 billion, and Rp1.07 billion of it was
channelled, down from the previous period’s Rp1.57 billion.
Bank Social Fund Sources Year 2011
No.
Fund Source
Amount
1 Penalty ( ex penaltiy social fund)
Rp 637.436.361,-
2. Non Halal Income ( ex giro service social fund)
Rp 610.212.905,-
3. Other Social Funds Rp 1.183.423.316,-
Rp 2.431.072.583,-
Amount of Social Fund Source
Q. GCG Development
P. Non- Halal Income and Usage
Non-Halal income and usage in sharia banking must be
disclosed in annual report of Good Corporate Governance
implementation, This is regulated in Bank Indonesia Circulars
(SEBI) No.12/13/DPbS, dated 30 April 2010, on Good
Corporate Governance Implementation for Sharia Commercial
Banks and Sharia Business Units.
As the implementation of GCG concerning with non-halal
income and usage, the Bank implemented it in Bank Circulars
No. 13/009/UMM, dated 27 June 2011, on the Usage of Bank
Social Fund. In internal Bank circulars, non halal income
becomes Bank social fund that consists of:
1. Ex-Penalty Social Fund, is fund from penalty of late
instalment or other kind of penalties related to the
transaction between the bank and other parties.
2. Ex Giro Service Social Fund, is social fund from demand
deposit received by the bank from the placement in
conventional banks.
3. Other Social Funds, are social fund from commission,
fee, or in other form of income from the Bank’s
partners besides income received by the Bank as the
management’s provision.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The implementation of BSM GCG in 2011 was improving
and it was well proven by the Bank’s second time of winning
Annual Report Awards (ARA) for the period of 2009 and
2010 for the Best Company Annual Financial Report Private
Category Non Listed Finance held by BI, Bapepam-LK,
Ministry of State Enterprise, Ministry of Finance, National
Committee of Governance (KNKG) and IAI
In the follow up to BI audit results that on BSM GCG
implementation with qualification as “good”, Bank coordinated
Self Assessment (SA) on GCG implementation especially
for internal Bank interest, to modify GCG checklist form for
regular assessment. Meanwhile, external SA in conformity
with PBI and SEBI obligation in the form of annual report has
complied with the regulation.
The Bank has revised the GCG charter and internal
regulation complying with Bank Indonesia Regulation (PBI
No.11/33/PBI/2009 on GCG Implementation for Sharia
Commercial Banks and Sharia Business Units), allowing for
implementation of GCG principles in all Bank Activities.
GCG socialization was performed continuously to all Bank
employees through the intranet (Bank circulars) access, as
the subject in Basic Training class or other training programs
held by the Bank. It is intended to help all Bank employees
understand and apply GCG principles in daily working
165
good corporate
governance
activities to avoid fraud in each work unit.
BSM keeps on improving GCG practice by monitoring work
units related to the Head Office on Code of Conduct (CoC)
Implementation. Should a conflict of interests or malfeasance
causing fraud involving Bank employees is found, a reminder
will be issued to related work unit to settle and to do a followup action complying with prevailing regulation under inherent
supervisory from related Divisions such as Internal Audit
Division (DAI), Risk Management Division (DMR), Network
Division (DJN) and Compliance Division (DKN).
1. Long Term Strategy (Roadmap)
The implementation of GCG principles of TARproF
(Transparency, Accountability, Responsibility, Professional
and Fairness) is conducted consistently to improve
corporate image, GCG scoring result, service quality
to customer, cost effectiveness (BO/PO) and to attract
investors,
The Bank keeps on trying to embody compliance
commitment to the implementation of Bank Indonesia
Regulation concerning with GCG implementation in sharia
banking. This commitment is embodied by an obligation
to implement GCG principles of TARproF in performing
duties and responsibilities for all bank employees.
The support through application system, GIS (Good
Corporate Governance Information System) application,
is also taken by the Bank to facilitate Bank employees in
implementing GCG principles.
To maintain Bank GCG implementation consistency and to
keep sustainability of sharia banking industry, the strategy
has been designed, covering:
a. GCG Clinic for Bank employees
1) Head of Branch Office. The Clinic motivates Head
of Branch Office to improve awareness on GCG
implementation for work units.
2) Further GCG clinic is given to the Managerial
Level (Operation and Marketing Manager). GCG
and CoC clinics are intended to socialize GCG
principles and Code of Conduct implementation for
all bank employees.
3) GCG coordination with Head Office work units to
share the same understanding on GCG principles
implementation.
b. Completing GCG infrastructure.
1) Preparing and revising GCG implementation
guidelines in the Bank to comply with the most
recent regulations from the regulator, Bank
Indonesia through PBI No.11/33/PBI/2009 dated 2
December 2009 and SEBI No.12/12/DPbS dated
30 April 2010 on Good Corporate Governance
implementation for Sharia Commercial Banks
(BUS) and Sharia Business Units (UUS).
2) In addition, the compliance of Bank GCG
Committee is needed to supervise GCG
implementation in the Bank and supported with
regulations that governs the GCG committee.
c. Strengthening the Whistle Blowing System Culture
Fraud found in the Bank may derive from internal Bank
and it will affect Bank Image. For this reason, the Bank
must actively prevents and eradicates fraud together
through confidential and direct reporting system
mechanism (i-Blow system). Reporting through i-Blow
is established to develop Bank employee’s culture in
GIS application consists of:
a. Self Assesment for GCG implementation
b. Self Assesment for CoC implementation
c. Annual Disclosure
d. Quarterly GCG Index
In addition, employee enthusiasm for learning is
continuously improved to understand the Bank as a
knowledge based company through refreshment test for all
employees. This refreshment test is one of feedbacks for
management to know employees capability related to their
job. Employee’s understanding becomes important for the
management to ensure that employees perform duties and
responsibilities based on system and procedure, not by
habit.
166
performing activities.
d. Paperless (Indexing, Self Assessment and Annual
Disclosure)
2011 is declared as “Paperless Year” in which filling
in the GCG index, self assessment implementation
scoring and annual disclosure is conducted through
GIS application (GCG Information system). Paperless
year is designed for efficiency facilitating bank
employees to play an active role in overall GCG
implementation.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
e. The Bank keeps developing GCG Information
System (GIS) application to support GCG
implementation comprehensively. The application
of Good Corporate Governance Information
System (GIS) is more informative for Bank
employee by using the menu:
1) “GCG Menjawab (GCG Answer)” is intended
to provide a room for Bank employees to ask
questions on the implementation of GCG and CoC
principles in each work unit.
2) “Q&A” or Question&Answer, is intended as a
menu to enrich treasury and knowledge of Bank
employees concerning GCG and CoC.
3) GCG Display in the form of :GCG&CoC Message”
or informative messages to BSM employee through
employee’s computer units. The short message
is sent regularly to remind BSM employee on the
implementation of GCG TARproF and Code of
Conduct (CoC).
f.
”GCG Ambassador” nomination in each Branch as
Person In Charge (PIC) for socializing regulation
on GCG implementation. GCG Ambassador is
assigned to be the representative of Head Office
work unit in handling Bank GCG development,
in order that the comprehension of GCG and CoC
principles implementation and update information
development in Bank employee can run effectively.
g. Skill and Competency strengthening for
Management and Employees;
1) The managements attend seminar, workshop,
and training to improve managerial skill
and competency in performing duties and
responsibilities complying with GCG principles and
regulator provisions such as:
a) Two days seminar on “Executive/Board
Program For Indonesian Senior Banking
Executives” Amsterdam, the Netherlands
b) Seminar on Net Promoter Customer Loyalty
Award (SWANETWORK),
c) Risk Management IBI-PERBANAS in
Netherlands
d) Executive Program in Corporate Strategy
in Chicago Booth the University School of
Business,
e) Seminar on ‘Why Indonesia’s economy will fly
as High as an Eagle in the Next Decades”,
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
f) Seminar on Finance Service Authority (OJK)
g) Seminar on “Good Governance” (FEUIBIMASENA),
h) Workshop on Assessor Competency Test
(LSPP)
2) Management gives BSM employees opportunity
to develop self potency through training hosted by
both internal Bank or external related to the duties
and responsibilities of employees. The Bank also
finances further education program (post graduate/
S2 or doctorate/S3) to employees who meet the
qualification.
3) Improvement of employee GCG awareness
competency via e-learning.
BSM keeps upgrading employees’ competency
through selflearning system, e-learning program in
which employees must read learning material and
then take online test.
4) Management Skill improvement training (such as
sustainability report) with international parties with
best capability and world-class recognition.
h. Socialization to the internal and external parties
related to Bank business sustainability to shape
up “BSM Clean”:
1) In 2011 the Bank socialized GCG to vendors and
partners in cooperation with the Bank by inviting
them to Business Gathering activities. In this
opportunity the Bank gave information and input to
vendors and partners to internalise ”La Risywah”
implementation. La Risywah is a self-commitment
prevention of employees from any types of
rewards/parcels.
2) Socialization is also given to customers to
educate employees and customers i.e. in
understanding Bank’s product towards sustainable
professionalism.
3) The Bank Management will educate customers
by workshop programs to improve customer’s
appreciation towards corporate values. It means
that Bank expects that customer refuse and
report to Bank in case of vested interests by bank
employees that will cause disadvantage for both
customers and the Bank.
167
good corporate
governance
TARProF
Pro
R
A
T
2011
a.GCG Clinic for BSM Head of Branch
b. Skill and competency strengthening
c. Completing GCG Infrastructure
d. Strengthening of whistle
blowing system culture
e. Paperless (indexing, Self Assessment
and Annual Disclosure)
f. Socialization to vendors/partners not give
anything to BSM emplpoyee (clean).
g. GCG encourages Bank
compliance strengtehing
h. Sustainable CSR Implementation.
2012
a. GCG clinic for OM and MM level
b. Management Skill Improvement
(such as Sustainability report)
international party
c. GCG Information System Application
d. BSM GCG Ambassador
e. Improvement of employee GCG
awareness competency via e-learning
f. Optimization i-blow regulation
and establishing special
investigation work unit
g. Sustainability Report Srengthening
i. GCG encourages strengthening of Bank
compliance.
In line with the Bank Indonesia Regulation No.13/2/
PBI/2011 on the Implementation of Commercial
Bank Compliance Function, GCG encourages
Bank to embody Bank compliance culture by giving
compliance guidance on compliance behaviour of
branch employees. With compliance, Bank employees
behaviour will be compliant with GCG principles.
j. CSR Implementation for “BSM Clean and Go
Green”
As a form of Bank awareness to the community and
environment, Corporate Social Responsibilities (CSR)
programs are continuously performed and developed
for the common welfare. Continuous and sustainable
CSR strengthening is hoped to give positive impacts
on the Bank. In the future, the Bank will establish own
section to optimise CSR role in achieving for BSM ”
Clean and Go Green” to support this beloved country
to embody ”Green Banking” in the real term.
2. GCG Principle Implementation
Basically the optimising and development of GCG
principles applied by BSM covers 5 (five) principles:
Transparency, Accountability, Responsibility, Professional
and Fairness (TARProF) as follows:
168
2013
a. GCG coordination with
Head Office executive
b.BSM GCG Committee Compliance
c.BSM Corporate Secretary strengthening
d.Establishing own work unit specially
handling BSM CSR& SR
e.Monitoring by Visitation (branch visiting)
f.Education (workshop) by
management in improving customer’s
profesionalism on GCG
g.Public awareness to fight against fraud
h.BSM “Clean and go Green”
F
2014
a. GCG Clinic for Management.
b. The best achievement of GCG Index
c. GCG Committee compliance
with regulation.
d. Externalizing (comparative study
nationally and internationally
and Q&A priority customer).
e. Controling and evaluating GCG
implementation optimization .
f. Forwarding GCG education for
employee and customer towards
sustainable professionalism.
g. GCG Implementation based on
audit result qualified ”Excellent”.
a. Transparency:
1) Homepage management;
2) Intranet facility usage and morning pray forum
every Monday for all BSM employees;
3) BSM Banking Mediation Team Development;
4) Financial Report & GCG implementation
Assessment publication on mass media, Annual
Report and Bank Homepage;
5) Financial and profit sharing report publication via
brochure/leaflet/ for customers;
6) Disclosure of BSM management remuneration in
GCG Report;
7) Working rules for Board of Commissioner and
Board of Directors member;
8) Up dating internal regulation in Bank Circular on
the Internet accessible by all BSM employees;
9) Disclosure of internal fraud > Rp100 million in GCG
report.
b.Accountability;
1) RUPS implementation ( Annually and Extra
ordinary)
2) Internal Meetings of management, Committees,
Executive Officer and related parties;
3) Balanced Score Card (BSC) Implementation for
performance management;
4) Cost Efficiency in all work units;
5) Monthly and quarterly Assessment through
realization monitoring to Bank Business Plan
(RBB) for Head Office work unit level and branch;
6) Performance contract and Performance Appraisal
for all employees;
7) BSM work unit guidance in accordance with its
performance every Monday morning
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
c. Responsibility;
1) Revision to internal Policy/Guideline/Circular Letter;
2) Compliance to various regulations from regulator
(Law, Bank Indonesia Regulation (PBI) & Bank
Indonesia Circular (SEBI), PSAK, PPATK, National
Sharia Board (DSN) Fatwa)
3) Corporate Social Responsibility (CSR) activities
that mostly synergize with LAZNAS BSM UMAT
i.e. Zakat, Infaq, Sodaqoh, Qardhul Hassan,
BSM employee blood donor activity quarterly,
compensation for orphans every month,
scholarship, mass circumcission for poor people
and donation of books to schools through Smart
Parenting program, compensation to victims of
natural disasters;
4) Organizing SIKOHAT
5) Micro, Small &Medium Financing Channelling
6) Delivering of Internal Regulation to BI
7) Best Service and care for the customer
.
d.Professional;
1) The issuance of Risk Opinion, Compliance
Certificate, Compliance Review, Compliance
Opinion/Note;
2) Sistem and Procedure Committee Decision (KKS)
for the issuance of internal regulation and Risk
Management Committee (KMR)
3) Hiring of external appraisal and external auditor
services to audit financial reports;
4) Inspection from Bank Mandiri, SKAI-BSM;
5) Compliance and Risk Management Work Unit
strengthening;
6) Organizing tender through Procurement & goods
and Service Control Team (TPPBJ)
7) Updating list of partners, Appraisal, Notary, and
external auditor;
8) The appointment of Board of Commissioners and
Independent Parties in committees;
9) Quality (skill) Improvement of Bank employee
10)Employee Competency in accordance with each
job description.
e.Fairness:
1) Human Capital Strategy Implementation;
2) Reward for employee i.e. Quarterly Work Unit
Achievement Allowance (TPUK), incentive and bonus;
3) The implementation of punishment for employee
violating disciplines in the form of guidance,
warning (SP1, SP2, SP3,) and dismissal (PHK) for
Annual Report 2011 PT Bank Syariah Mandiri
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employee conducting fraud;
4) Transfer, promotion/rotation/demotion of work unit
employee and executive;
5) Appreciation in the form of reward/for employee/
branch that has good achievement;
6) Screening program for new employee, especially
concerning with family relationship;
7) Organizing tender i.e. Employee Assessment
Center Program.
8) Equal treatment to Stakeholders.
f. GCG Clinic Program for Head of Branch
Head of Branch
Comitmen on
Governance,
Standard, Visi &
Misi, Values
Governance
Structure,
Responsibility of
Corporate Organ
GCG
CLINIC
Governance Outcome
TARProF& Profit
Governance
Mecihanism
Strategy,
System &
Control
1). Background of GCG Clinic
a) Compliance Work Unit (DKN) Supervision
on the GCG implementation that keeps
on increasing since 2003 needs reform on
GCG implementation in order that Bank can
develop GCG implementation strategy to reach
company’s vision and missions.
b) Setting a target for GCG score improvement
c) Solution to the weaknesses occurred
through awareness improvement towards
the importance of GCG implementation,
leadership of a leader and comprehension of
the prevailing regulations.
2) Objectives of GCG Clinic
a) To give reference to all branch executives on
GCG and CoC principles, implementation and
controlling.
b) To give understanding on responsibilities and
authorities of head of branch offices.
c) To explain benefits of well implemented GCG
for the company.
169
good corporate
governance
d) To build commitment and awareness towards
GCG.
e) To understand constraints faced by branch in
GCG implementation.
f) To create Indonesian Banker with strong
integrity
g) To improve Bank performance through better
decision making, operational efficiency and
better service for all stakeholders.;
3) GCG Clinic Scope
Profit
Financing
Funding
Case
Branch
Performance
NPF
Assets
BO/PO
FBI
 Bo/po = Operational cost / operational income
 NPF = non-performing-loan
4) GCG clinic method
a)Visiting
i.Diagnosis
ii.Analysis
iii. Advice and appeal
iv.Commitment
v. Evaluation and Monitoring
vi.Improvement
vii. Externalising & Publication
b)Interview
c)Perception
5) GCG Clinic Result
Recommendation to perform:
a)Treatment
b)Monitoring
c)Prevention
d) Providing advices
S. Code of Conduct (COC)
1. Code of Conduct Existence
Code of Conduct (CoC) is a part of Good Corporate
Governance (GCG) or the practical explanation of
GCG in the form of ethics of behaviour of all Bank
employees towards Stakeholders. CoC is for individual
daily activities in working behaviour. Implementation
of CoC will support company in implementing GCG
principles. Good Corporate Governance principles will be
meaningless without consistent support from optimal CoC
implementation.
Good CoC implementation is under responsibility of
all Bank employees. For this reason, Code of Conduct
is consistently embedded in the culture as behaviour
guidance of all Bank employees, to create Bank
employees as a healthy, professional, independent,
and trusted individual and to be able to face company’s
challenge in the future.
The Bank CoC is supported by a guideline as reference
so any CoC violation performed by Bank employees can
be detected quickly. The compliance to this regulation can
prevent unusual relationship development with customers,
partners/vendors, among Bank executives without
interfering in private affairs of the Board of Commissioners,
Management and Bank employees.
2. Code of Conduct Aspects
The implementation of ethic of behaviour in Code of
Conduct covers such aspects as:
a. Conflict of Interests; Bank employee must know and
avoid activities causing conflict of interests.
b. Malfeasance; Bank employees are prohibited to
misuse of authority and take advantages either direct
or indirect concerning with Bank business activities for
personal, family and other parties.
c. Confidentiality; Bank employees must keep
confidentiality of information received only for internal
consumption, customer’s data, and understand the
procedure of information dissemination to other
parties.
The results of GCG Clinic become material for
GCG implementation improvement to create better
Performance, Compliance and Conformance.
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d. Insider Behaviour; Bank employees having secret
information are prohibited to take advantage for a
person, ,family, or other parties.
e. Integrity and Data Accuracy; Bank employees are
prohibited to conduct fraud by manipulating data
or information for personal, family or other party’s
advantage and obliged to submit correct report data.
f. Banking System Integrity; Bank employees must be
on alert , preventive and are not involves in the activity
that weakens banking system integrity.
g. Employees’ Account Management; Employees account
must be managed well without any account misuse for
unusual transaction.
h. Annual Disclosure; Bank employees at least for the
officer level must fill in annual disclosure on Code of
Conduct implementation annually.
i. La Risywah Statement; Bank employee and BSM
affiliated/related parties are prohibited to receive
gift/reward and parcel in any form from customers/
partners/other parties. The provisions of prohibition
is in the form of statement in the process of customer
financing or Code of Conduct poster that must be
placed at the strategic place.
3. Code of Conduct Dissemination
Code of Conduct implementation must be carried out
optimally by Bank employees.
a. CoC Introduction is socialized to every new employee
when signing employment contract of which Bank
employees are prohibited to receive gift/reward in
any form from customers or partners as the result
Bank’s activity. Moreover, new employee get better
understanding on CoC in sharia banking in class
b. Customer financing process must attach a statement
signed by the customer on financing akad not to give
gift/reward in any form to Bank employees.
c. GCG clinic implementation for Head of Branch is
intended to give CoC Implementation reminder to Bank
Employees.
d. Sharing opinions related to activities/actions with work
units that may cause a conflict of interest.
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e. Dissemination of compliance memo during the current
year period is performed through related Division to
give reminder to Bank employee concerning with CoC
violation occurred and give the input to Bank employee
to avoid it.
f. Socializing seventeen core behaviours of BSM shared
values ETHIC (Excellence, Teamwork, Humanity,
Integrity, Customer Focus) in every morning pray
by BNK. It is needed to improve awareness of
Bank employees to always work honestly and fully
responsible as well as to work professionally.
4. CoC Mechanism
In 2011 the Bank kept on optimizing Code of Conduct
implementation campaign movement emphasizing on
La Risywah, No Kick Back and No Special Payment that
prohibit Bank employees to receive reward in any form
when dealing with other employees, customers and
Bank’s partners. Code of Conduct (CoC) socialization was
realized in the period of 2011 by optimizing Bank CoC
implementation such as:
a) Signing commitment to CoC that is revised annually.
b) CoC socialization in morning pray forum either in the
Head Office or Branch/outlet, Reading & Discussion
Forum, and Basic Training Program for new
employee, Overview for Officer and MMDP to increase
Leadership.
c) Signing ”La Risywah” poster for all Head of Work Unit
in Head Office and Branch Offices.
d) CoC bahaviour socialization (“La Risywah, No Kick
Back and No Special Payment movement”) is also
aimed at customers, especially for customer receiving
facility from the Bank, by requiring the customer to
sign statement ’Not to Give’ gift/reward to all Bank
employees in the form of cash, personal goods, parcel
as well as special personal service and others as a
thanking expression from the customer on the service
given in the financing process.
e) Providing opinion related to activities/actions from work
unit that may cause a conflict of interest.
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good corporate
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5. Flow of COC Enforcement Mechanism
Financing/Funding
Customer, BSM
Partners/vendors
Verification
Process of
CoC Violation
Transaction
process of
Financing customer
a. La Risywah
BSM Financing/
funding products
Transaction
process of Funding
customer
Selection process
to tender with
Partner/vendor
Since 2001, the Bank has had Code of Conduct referring
to akhlaqul karimah (noble character). Code of Conduct
is intended to give behaviour guideline in conformity
with values and culture BSM expects, these are Islamic,
professional, and responsible in the interaction with all
parties either colleague, Bank internal parties, customers,
partners or regulator.
Some important aspects regulated in Bank Code of
Conduct such as cultural aspect, conflict of interest,
confidentiality, malfeasance, insiders behaviour, Bank data
accuracy integrity, Banking system integrity, employee
account management, compliance commitment statement
on Annual disclosure form, punishment for violation/
disobedience and supervising on implementation and
updating.
Each employee must report violation on Code of Conduct
to the immediate superior with carbon copy to Human
Capital Division, meanwhile for violation involving the BSM
management, the report is submitted to Human Capital
Division. All reports must be supported with accurate data
and/or evidence in order that violation can be process
further.
Yes
No
b. No Kick Back
c. No Special Payment
Yes
Punishment for
Employee
No
STOP
Verification of
CoC Violation
Financing /
Funding Process
Continuess
The Bank always performs monitoring to Code of
Conduct implementation during the year especially for
Bank executives concerning with aspect of malfeasance,
conflict of interests, confidentiality, and the implementation
of La Risywah, No Kick Back and No Special Payment.
Moreover Bank also signed statement on GCG towards
the GCG and BSM implementation especially for Head of
work unit all over Indonesia.
Code of Conduct implementation in Branch Office is
performed by:
a) Improving supervisor role and function in giving
example, ensuring comprehension on the regulations
applied for work unit under his supervision, re-checking
each operational transaction (posting).
b) Increasing alertness and security on Bank Assets.
c) The implementation of duties and responsibilities
conforming to each job description
d) Avoiding from conflict of interest and prioritizing
company interest rather than personal
e) Reporting every fraud conducted by employees
through Fraud Post Box media
f) Coordination with DJN and DHC to give punishment
pursuant with the prevailing regulations, if there is CoC
violation.
In line with BSM motto “better ways for better Indonesia”
Bank employees are demanded to have long ideal and
to develop good ways. To establish BSM becomes “The
Great BSM” means to develop Indonesia.
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6. Code of Conduct Deviations During the
period of 2011
During 2011 there were several activities/actions of Bank
employee that caused CoC deviation, such as:
Kronologis pelanggaran
Follow up/Solution
There was a sidestream from the disbursement of financing conducted by Bank
executive, originally for renovating house but used for buying gold and used as
collateral with the nominal under the disbursement
There was a conflict of interest conducted by Head of Warung Mikro in which the
customer financing proposed would be bound by the notary who is KWM’s Parents
There was case in which Head of Warung Mikro borrowed money from financing
customer
Customer financing fund withdrawal trough ATM conducted by Micro marketing
Executor (PMM) in which he controlled customer’s document and ATM.
Financing customer installment lapping conducted by outsourcing employee a
member of special team billing. It happened because there was no monitoring from
Branch office employee.
There was Risywah conducted by Support Marketing Executor (PMS) from financing
customer
There was the use of employee account (confidential) to perform buying and selling
gold transaction to get fee from customer.
Immediate action was taken by means
of collecting data and evidence through
work unit (Branch) Compliance Supervisor
(PKP) to be reported to Director in charge
of compliance for disposition. Based on
the disposition from director in charge
of compliance Internal Audit Division
(DAI) conducted further investigation.
Punishment for the perpetrator was
given by Human Capital Division (DHC)
by issuing warning letter I until wraning
letter III that caused an employee to be
dismissed. For certain case punishment
for the perpetrator needs investigation
from Employee Enforcement Team (TPP)
No. Code of Conduct Aspects (CoC)
1. Conflict of Interest (COI)
2.Malfeasance
3. Employee Account
Management
T. Company Values
In line with BSM motto “Better Ways for Better Indonesia” the
Bank employees are encouraged to be more motivated to
carry out improvement and innovation to build BSM into “The
Great BSM for better Indonesia”.
BSM Shared values of ”ETHIC” are always the basis in daily
activities. ETHIC represents the ”Color” for bank employees
in Developing Corporate Culture. In daily activities, the Bank
shared values are set forth in 17 core behaviours:
In 2011 the Bank performed socialization and internalization of
company values in various activities such as:
1) Spirit of the Week, is a discussion forum on core behaviour
of ETHIC hosted in Morning Pray Forum every Monday,
attended by the Board of Directors and Head Office
employees. Simultaneously, employees of all Regional,
Branch Office and Auxiliary Branch Offices can listen to
the discussion.
2) Management messages in every meeting.
3) Themes in Work Meeting and the Bank’s Big Events
4) Employee Training Modules.
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5) BSM Innovation Awards 2011, an awarding event for
Bank employees who had developed innovation and
implemented it in Work Units. Innovation Awards 2011 was
an awards for innovation implemented in 2010, attended
by 147 innovators and will be held annually.
6) BSM Front-Liners Competition
7) It is a competition for front liners all over Indonesia starting
from Teller, Customer Service, through to security guards.
BSM Front Liners Competition gives awards for BSM front
liners who have best service for customers as well as
other parties.
8) BSM Corporate Social Responsibility
9) It is a form of BSM awareness on humanity and
environment shared with the stakeholders
10)BSM Club
11)Bank Syariah Mandiri facilitates its employees’ need
for self-expression. Through BSM Club employees can
develop interests/hobbies and talents in various activities
such as Readers Club, Smiling Club, Photography Club,
Adventure Club and Sport Club with various kinds of sport.
12)BSM Club has performed various activities with company
values of ETHIC as the basis. Among them are monthly
Book review, Public Speaking Competition, environmental
protection, giving compensation to social institutions and
others.
13)Publishing a book “Memaknai Kerja (Meanings Behind
Work)” by the President Director.
14)As the externalisation spirit of BSM, the President
Director explores the basis of BSM struggle. This book
becomes one of the references to embody ETHIC values,
such as Humanity and Integrity.
173
good corporate
governance
Company values (ETHIC) nowadays develop and lead
to Corporate Culture that becomes identity for all BSM
employees without exception.
In the attempt to facilitate active role of all employees,
reporting facility is provided through Fraud Post Box
that is accessible through SIK Public Folder address
http://10.1.30.7/SIK.
U. Whistle Blowing System
Whistle Blowing System is reporting system mechanism
by someone (an employee) that finds fraud activity/action
conducted by bank employees through IT based reporting
confidentially called i-Blow to facilitate Bank employees to
report every internal fraud without fear due to protected
confidentiality.
If fraud is committed by a Bank employee, it will cause
disadvantages for the Bank and affect Bank image, which
in turn will affect productivity of Bank employees as well as
overall business sustainability.
Bank employees must be active to prevent and even
“Eradicate” fraud together. The Bank should perform shared
commitment that “fraud is the Bank enemy” through internal
Whistle Blowing System (i-Blow). For this reason, the Bank
enforces all employees to make a report in case of spotting a
fraud activity conducted by Bank employees.
The implementation of Whistle Blowing System (i-Blow)
reporting on SIK application with the address http://10.1.30.7/
SIK is continuously encouraged and socialized to all Bank
employees to develop awareness and caring attitude for
company that undertakes mandate from Stakeholders.
1) Whistle Blowing System (i-Blow) Objectives are:
a)
To implement Whistle Blowing System (i-Blow) as one
of forms for inherent monitoring mechanism for Bank
employees.
b) To minimise recurrent fraud in Bank operational
activities.
c) To maintain Bank image as healthy company and
implementing GCG in the eyes of Stakeholders.
d) To avoid BSM from various risks (operational,
financing, legal,, compliance and reputation) that may
cause financial and non financial loss.
174
2) Whistle-Blowing System Mechanism
With the commitment of all Bank employees to fighting
fraud, reporting access is open for all Bank employees
to submit report through Fraud Box in which the
confidentiality is guaranteed. WBS mechanism is put into
effect by:
a) Compliance Information System (SIK), is an online
and real-time application to support compliance
function concerning with GCG, Code of Conduct and
Compliance Procedure.
b) Operational Risk Management Information System
(ORMIS), is an application system to identify, monitor,
and mitigate BSM operational risk occurrence.
c) Prevention and Correction Level Note, is a list of notes
containing all violations done by functional level in
Branch Office structure.
d) Violating reporting mechanism in SIK, OPRMIS, and
CTKP conducted according to each standardized
procedure. If the truth on report is proven, it will be
followed up by an audit.
3) Whistle-Blowing System Implementation Process:
a) Employees who see or finds fraud action can report it
by filling in the data to SIK Fraud Post Box folder. The
report has to be supported with data and adequate
information.
b) Fraud Post Box is periodically opened and analysed by
Compliance Division (DKN). The report found worthy
will be processed to the next step.
c) DKN informs fraud report to Compliance Supervisor
(PKP) to be followed up through investigation.
d) PKP soon collects preliminary evidence and examine,
then to make incidental report to DKN.
e) DKN makes incidental report from PKP to Compliance
Director.
f) DST guarantees Fraud Post Box data confidentiality.
g) Internal Audit Division (DAI) investigate based on
PKP incidental report that has gained approval from
Compliance Director.
h) DAI makes investigation report in the form Special
Audit Result Report (LHA)
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i) DAI submits Special LHA to President Director.
j) DAI submits Special LHA (containing disposition
from President Director) to DHC to be followed up
concerning with employee conducting violation.
k) DHC, together with, Employee Enforcement
Team(TPP) hold a meeting and /or session towards
employee violating discipline.
Flowchart of Whistle Blowing System Mechanism
Employee
(1)
4) Usage and Whistle Blowing System Output
a) On fraud indication reported by PKP or employee
through Fraud Post is soon reported by DKN to
Compliance Director.
b) On Compliance Director disposition, fraud problems
are settled through investigation mechanism (special
audit) by KP-DAI.
c) The investigation conducted by KP-DAI is expected
to generate report to President Director in conformity
with Bank regulation by prioritizing independency,
professionalism, and objectivity.
d) Work unit is not allowed to resolve itself or take legal
action on fraud occurred with the purpose to cover the
fraud case or to avoid punishment from TPP.
5) Whistle Blowing System Implementation
BSM will continue to improve WBS policy implementation
concerning with complaint over violations filed by non
Bank Stakeholders so that the potency of reputation risk
and public trust towards Bank can be avoided.
The examples of Whistle Blowing System (I-Blow) report
submitted by employee are as follows:
a) Embezzlement of customer’s fund conducted by
employee could be prevented early to prevent the
Bank from losing too much. The perpetrator was
punished on knowledge of the family and employee
and the problem was settled.
b) Customer’s complaint concerning with transfer failure
in ATM machine reported by employee on i-Blow could
immediately be handled by the related work unit.
President
Director
Director in
charge of
Compliance
Function
iBLOW
in SIK
(2)
(5a)
DKN
(5b)
(3)
DAI
(4)
Special
LHA
employee conducting violation.
V. Bad Corporate Governance
Practice
No
2.
3.
Description Practice
No
Case in point being faced by companies, subsidiaries,No
members of the Board and / or Board Member
of the incumbent is not disclosed in the Annual Report
Noncompliance in fulfillment of tax obligations
4. Incompatibility of financial statements presentation with GAAP
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DHC
Explanation:
1. An employee who sees or finds fraud activity should
report it by filling in the data to SIK Fraud Post Box folder.
The report has to be supported with data and adequate
information.
Fraud Post Box is periodically opened and analysed by
Compliance Division (DKN). The report found worthy will
be processed to the next step.
2. DKN processes the report and confirm to the related party.
3. DKN goes the report through to DAI
4. DAI investigates based on DKN report and to write the
result of the investigation in the form of Special Audit
Result (LHA). DAI submits LHA to President Director with
carbon copy to Director in charge of Compliance Function.
5. DAI submits special LHA (containing President Director
disposition) to related division.
6. DHC follows up DAI recommendation related to the
1. There is Reports as a company that pollutes the environment
Annual Report 2011 PT Bank Syariah Mandiri
(6)
No
No
175
176
Annual Report 2011 PT Bank Syariah Mandiri
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risk management
report
Risk profile by December 2011, shows
the predicate of the overall composite
risk is low to moderate with the quality
of risk management implementation is
categorized as satisfactory.
10
Types of risk according to PBI include
credit risk, market, liquidity, operational,
legal, reputation, strategic, compliance,
and return on investment.
Annual Report 2011 PT Bank Syariah Mandiri
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177
risk management
report
Global economic condition in 2011 was not conducive
due to debt crisis in Europe and economic uncertainties
in the US, but the performance of Indonesian Banking
industry including BSM shows a positive trend. One of bank
performance indicators that grows significantly is financing
at the rate of 53% in 2011. Besides, customer demand for
various transactions and sharia financial products continue
increasing. For this reason, the Bank has to create more
innovations and improve product / operation activities.
The Global economic condition that has not yet recovered
while the growth of various products and transaction voulume
will increase bank risk exposure. The rising risk exposure
needs to be managed for maintaining bank’s profit rate and
capital. For this reason, bank needs to implement accurate
and comprehensive risk management in pursuit of bank
growth, development and added values to the Stakeholders
A.Benefits of Risk Management
Implementation
BSM expects that the implementation of comprehensive
and integrated risk management bring benefits in the form
of:
1) Providing timely and accurate information for
management in business decision making process
that involves significant risks for bank.
2) Balancing the rate risk with the return rate accepted
from various business activities.
3) Measuring risk based business performance,
by transactional, portofolio and bank-wide
measurements.
4) Allocating bank’s capital efficiently on various risks
faced by the bank
5) Improving company’s value for all stakeholders.
B.Risk Management Organization
Risk management is based on the well-defined
segregation of duty principles. Segregation of duty
encompasses the risk tasking units, supporting units and
the risk management unit. At the same time, each related
work unit is the risk owner of respective duties. The
implementation of this principle aims to ensure that the
decision making is kept away from conflict of interests.
178
BSM has an organization (consisting of committees and
Work Units) that is responsible for risk management
implementation. The organization determines the scope
of authority and responsibility for all levels of company’s
organization. The organization is made up of:
1) Risk Monitoring Committee
2) Risk Management Committee
3) Risk Management Director
4) Risk Management Work Unit
5) Operational Work Unit
The Bank has established Risk Monitoring Committee
(KPR) that is assigned to support Board of Commissioners
in observing and supervising efectivity of Bank risk
management implemetation.
Risk Management Committee (KMR) consists of Board of
Directors and executives. KMR provides recommendation
on policy and strategy of risk management, and discusses
all risk aspects faced by the bank to President Director.
The duties of KMR include formulating and arranging
policy, guidelines, and strategy of risk management
implementation, to ensure that bank business activies are
in line with the vision, mission and business plan. KMR is
assisted by a Working Group consisting of Asset Liability
Management (ALMA), Financing and Operational Working
Group (WG). This Group is assigned to study the risks and
provides recommendation concerning business issues and
conditions faced by the bank.
Risk Management Work Unit (SKMR) is a unit responsible
directly to the Risk Management Director concerning
the implementation of risk management. BSM keeps
on adjusting the organization structure and develops
business process to ensure that the risk management
implementation can support bank business development.
In 2011 BSM established Financing Operation Centre
(FOC) as a work unit authorized to process centralized
financing administration. This is intended to enhance Bank
internal control on financing activities.
C. Risk Management System
Bank has a Risk Management System composed of:
a. Active supervision of the board of commissioners
and directors, namely the active supervision of the
board of commissioners in approving the bank’s
risk management policies and monitor / evaluate
the effectiveness of the implementation of risk
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management policies are made ​​directors. While the
active supervision of the board of directors conducted
through the preparation and implementation of
effective risk management policies, integrated, and
sustainable;
b. Adequacy of Policies, Procedures, and Determination
Limit, which is its risk management policy in
accordance with the vision, mission and strategic plan
of the Bank and its procedures and implementing
provisions of the limit of transaction / activity, product,
and the portfolio of the Bank;
c. Adequacy of the risk management process, which
goes by the identification, measurement, monitoring,
and risk control and risk management information
system; and
d. Internal Control System as a whole, namely the
existence of internal systems that perform functions
pengendalilan and supervision inherent in the
transaction and operational activities of the Bank.
In line with the rising complexity of businesses, products
and bank networks, the exposure of Bank business
risk is also on the rise. In support to the healthy and
sustainable growth, the bank develops risk management
by implementing Enterprise Risk Management (ERM)
concept. ERM is a strategic initiative that is continuously
developed by the bank and is expected to enhance
bank’s performance to produce more added values
for stakeholders. With ERM put in place, the Bank
develops an integrated and systematic frame work on
risk management. To support ERM implementation, Bank
consolidates with the holding company concerning limit
approval issues, and development of human resource
competence.
1) Consolidation with Holding Company
To synergize risk management implementation between
the subsidiary and the holding company (Bank Mandiri),
BSM consolidates risk management implementation.
Consolidation on risk management implementation with
Bank Mandiri encompasses policy architecture & bank
operation procedure, risk management tools, bank risk
profile assessment, Risk Based Audit (RBA), and risk
awareness. In 2011 BSM improved policy, procedure and
tools related to the implementation of risk management,
among others:
a) Policy Architecture And Procedure;
b) Internal Control System Policy
c) Compliance Policy
d) Contingency Plan Core Banking System (CBS);
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e) Confidentiality of customer data related to data
requested by the third parties;
f) Priority banking management
g) Self assessment on Good Corporate Governance
implementation
h) Approval on personal account limit for branch
financing committee;
i) Rating of economic sector for financing, and;
j) Consumer and micro financing scoring
2) Defining Limit
Defining risk limits pursuant to the bank capital level.
Among the risk limit policies put in place are:
a) Limit on financing approval authority;
b) Limit on 25 biggest debtors exposure
c) Limit on in-house legal lending limit (bmpk);
d) Limit on financing portfolio for economic sector &
certain sub-sectors;
e) Limit on foreign currency financing;
f) Limit on financing insurance coverage;
g) Limit on treasury transaction;
h) Limit on cash balance;
i) Limit on operational transaction ;
j) Limit on statutory reserve (gwm) ;
k) Limit on net open position;
l) Limit on secondary reserve and;
m) Limit on individual gold pawn financing.
D. Risk Management Certification
The important role of Human resources (SDM) in risk
management has driven BSM to contunue improving
employee competence. One of bank efforts taken by BSM
to improve employee competence and to comply with
Bank Indonesia is sending selected employees to the test
on risk management certification. In the following is the
number of employees having obtained risk management
certification:
Risk Management Certification
Level
Number of Employee
I
II
534
361
III
IV
58
25
Total978
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E.Risk Management
Implementation
All unit works of the bank are responsible for risk
management implementation. Bank applies risk
management to all operational activities to control risk
exposure well and sufficiently appropriate to expected
return rate and bank’s capital rate.
In accordance with PBI No. 13/23/PBI/2011 dated 2
November 2011 on Risk Management Implementation
for Commercial Sharia Bank, BSM exposes 10 (ten)
kinds of risk. The risk covers credit risk, market, liquidity,
operational, law, reputation, strategic, compliance, return
and investment.
Risk management implementation on primary risks faced
by the Bank is as follows:
1. Credit Risk
To encourage sustainably healthy, qualified and
profitable financing expansion, BSM must manage
credit risk at its best. BSM always keeps financing
quality away from downgrade and Non-Performing
Finance (NPF) below the maximum limit set by Bank
Indoensia.
a. Policy, Procedure and Tools
From one year to another, BSM arranges, reviews
and revises policy, procedure, and credit risk tools to
adapt and anticipate external and internal changes.
Reviews and revisions include:
1) Bank’s business policy covering investment and
financing policies;
2) Financing standard operational procedure for
each business segment;
3) Limit on financing termination;
4) Partner assessment guidelines;
5) Consumer financing scoring
6) Micro Financing Scoring
7) Updating of Industrial sectors rating
8) Watch List tools.
b. Risk Acceptance Criteria (RAC)
Apart from determining the limit, the Bank also
uses Risk Acceptance Criteria (RAC) tools for
various industrial sectors. RAC is a front-end
tool in financing analysis process. The purpose
of RAC is to help Bank choose and determine
financing costumer target for certain industrial
180
sectors. In every process of financing, the Bank
must see the conformity of the condition of
prospective customers with the RAC of industrial
sector concerned. RAC is in use for such industrial
sectors as:
1) Oil palm plantation
2) Coal Mining
3)Gas
4) Health Service
5)Telecommunication
6) Sea Line Transportation
7) Food and Beverage Industry
8) Retail and;
9) Multi-finance.
c. Limit on Financing Portfolio
BSM uses portfolio guidelines for optimizing the
rate of return of financing disbursement pursuant
to the risk adjusted return. In addition to portfolio
guideline, BSM determines the limit on certain
financing portfolio, among others:
1) Limit on 25 bigggest debtors;
2) Cooperative-Consumer Financing;
3) Foreign Currency Financing;
4) Investment Collateral Financing (mudharabah
muqayyadah);
5) House Financing
6) Telecommunication Financing;
7) Gas Financing;
8) Multi-finance Financing;
9) Oil palm plantation Financing;
10)Coal Mining Financing;
11) Fuel Distribution Financing;
12)Health Service Financing;
13)Sea Transportation financing;
14)Retail Financing and;
15)Food Crops Financing
d. Financing Quality Monitoring
Bank monitors financing quality by:
1) Monitoring on customer’s business condition
and financing performance through Watch List
tools
2) Monitoring on financing portfolio quality growth
based on business segment, industrial sectors,
and financing scheme; and
3) Stress test on financing portfolio covering:
a) Stress test on macro economy and industry Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
condition with a simulation on global
financial crisis in 2011. To identify the impacts
of financing quality, the Bank used stress test
by decreasing export and import scenario.
b) Stress test on gold price drop impacts on pawn
financing quality. The Bank measured the
highest gold price volatility using Exponential
Weighted Moving Average (EWMA) model.
a. Maintaining bank compliance to the liquidity risk
limit i.e. Secondary Reserve Limit, the biggest
depositor and maximum balance. Bank sets
secondary reserve limit at the rate 5% from the
Third Party Fund average that stood at 12.75% by
31 December 2011;
b. Placing fund in Bank Indonesia financial
instruments and short term financial instrument as
bank liquidity reserve;
c. Measuring liquidity adequacy by monitoring cash
flow and liquidity gap regularly. The Bank can
accordingly manage liquidity appropriately and
efficiently as needed;
d. Maintaining bank access to the inter-bank sharia
money market by borrowing and lending credit line
from and to other banks;
e. Supervising liquidity ratio by monitoring financing
ratio to the third party fund, inter-bank obligatory
ratio, and cash ratio to the third party fund; and
f. Performing liquidity risk stress test regularly. Stress
test is performed to predict liquidity resistance and
liquidity cost spent when crisis condition occurs.
2. Market Risk
Market risk is the risk with balance statement position
due to market price change, i.e. the change in the
value of assets that can be traded or leased. Bank
faces market risk on foreign currency portfolio.
The management of market risk faced by the bank
refers to Market Risk Management Policy, Securities
Investment Policy, Standard Operation Procedure on
Securities Investment, and other related regulations. In
measuring market risks, Bank uses best practice and
risk sensitive approach i.e. the use of Value at Risk.
Bank manages market risks by:
a. Monitoring Bank Compliance to the limit i.e.
Net Open Position (PDN) Limit. Bank’s PDN
position was at the rate 3.19% or did not exceed
the limit set by Bank Indonesia at the rate 5%
by 31 December 2011. Bank reviews the limits
periodically or at any time of significant changes.
b. Measuring maximum lost potency (Value at
Risk) due to the exchange rate movement using
Covariance Variance model daily. The estimation of
maximum exchange rate volatility uses exponential
Weighted Moving Average (EWMA) model.
c. Performing market risk stress test on foreign
currency portfolio periodically. Stress test uses
exchange rate changes scenario.
3. Liquidity Risk
Liquidity risk will arise if the bank fails to fulfill
obligation upon due date with cash flow or high quality
liquid assets. Bank liquidity is influenced by fund
structure, asset liquidity, and payment commitment
from debtors.
Annual Report 2011 PT Bank Syariah Mandiri
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The management of bank’s liquidity risk refers to the
Liquidity Risk Management Policy, Fund Management
Guidelines, and other related provisions. The Bank
manages risk liquidity by:
4. Operational Risk
Internal process, system, human resources, and
external events are factors that cause operational
risk events to occur. The event has potency to give
disadvantage impacts financially and non-financially.
For this reason, the Bank must manage operation
risks of all operation activities to be well monitored and
controlled.
a. Software Use
Bank performs operational risk identification,
measuring, monitoring and controlling by making
use of web-based software ORMIS (Operational
Risk Management Information System) as the tool
for:
1) Identification and monitoring of operational risk
events;
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2) Early Warning System for operation risk
potency; and
3) Database of operational risk loss.
Risk Reporters on ORMIS consist of 3 (three)
layers: branch officers, compliance staffs, and
Bank’s internal auditor. Currently, the Bank
is utilizing tools being developed to manage
operation risks i.e. RCSA (Risk and Control Self
Assessment) and KRI (Key Risk Indicator). In
2011, Bank kept on developing and improving
operation risk tools.
b. Implementation of Information Technology Risk
Management
The Bank applies risk management on
information technology (IT) to protect and secure
IT operation systems. The implementation of
IT risk management uses a design of system
development and User Acceptance Test (CBS),
and Operation-Core Banking System Standard
Manuals.
c. Operation risk fund adequacy calculation
Bank Indonesia requires all sharia banks to
allocate operation risk fund. However, in managing
operation risks, the Bank has calculated capital
charged to cover operation risks. In calculating
operation risk capital adequacy, the Bank uses
Basic Indicator approach (BIA) method.
d. Business Continuity Management (BCM)
The Bank faces operation risk in the form of
disaster which can disturb or even discontinue a
part or even worst all bank operations. Disaster
may occur because of the internal factors (IT
system damage / failure) or external factor (natural
disaster and fire). To maintain continuity of
bank operation despite in emergency, bank has
implemented BCM containing Business Continuity
Plan (BCP) and Disaster Recovery Plan (DRP)
guidelines.
182
Bank has performed DRP trial run periodically to
ensure back up IT system readiness. During 2011
Bank has performed DRP trial run twice, in April
and December.
In addition to the four risks, the Bank always
manages other kind of risks that encompasses
law risk, reputation, strategic, and compliance.
The management of which is under the work
units related to law risk, reputation, strategic and
compliance.
Currently, a return and investment risk
management are part of Bank’s market and credit
risks. Bank will arrange a policy on both risks in
2012.
F.Risk Profile
Risk profile assessment is intended to give information to
all stakeholders about business risk faced by the bank.
Risk profile involves assessment of inheren risk and
efectivity of risk management implementation quality.
Inheren risk assessment is an assessment of risk
attached to Bank’s activity, by analysing quantitively and
qualitatively on certain parameters. The assessment of
bank’s risk pofile is arranged by Risk Management Work
Unit and submitted to Board of Directors and Board of
Commissioners monthy and to Bank Indonesia quarterly.
Risk management Work Unit also arranges branch risk
profile. The risk profile is intended to see efectivity and
eficiency of operational activity at branch, and branch’s
risk culture efectivity.
Bank performs assessment on risk management
implemantation quality that depicts the assessment of
risk control system adequacy. The assessment is self
assessment by qualitative analysis on four aspects of
assessment involving active supervision of Board of
Commissioners and Board of Directors, policy adequacy,
procedure and limit approval, measurement identification
process adequacy, risk monitoring and controlling,
Annual Report 2011 PT Bank Syariah Mandiri
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Bank evaluates risk management
implementation quality that reflects
assessment to risk control system
adequacy.
management information system risk, and integrated
internal control system.
The results of assessment of each risk in the end of year
2011:
Based on the risk profile per December 2011, the
composite risk qualification was averagely Low
competitive and sustainable risk management process
implementation, and internal control system functioning to all
bank operational/activities.
Risk Management System Development
In 2012, Bank will review and complete Risk Mangement
Policy especially Credit Risk, Market Risk, Liquidity Risk, and
Operational Risk. As the anticipation of compliance with PBI
Risk Profile
No. Risk Type
1. Credit
2.Market
3. Liquidity
4.Operational
5. Law
6. Reputation
7. Strategic
8.Compliance
Bank Risk Predicate
overall
Assessment in December 2011
Level of Inheren
Quality of Risk Mana-
Risk
gement Implementation
Low to Moderate
Fair
Low
Satisfactory
Low to Moderate
Satisfactory
Moderate
Fair
Low to Moderate
Fair
Low
Fair
Low to Moderate
Strong
Low
Strong
Low to Moderate
Satisfactory
to Moderate with satisfactory qualification for risk
management implementation quality
G.Risk Management Development
Plan
Risk Management System Evaluation
Bank evaluates risk management system effectiveness
through the adequacy assessment to active control
implementation of Board of Commissioners and Board
of Directors, prevailing policy, procedure, adequate limit,
Annual Report 2011 PT Bank Syariah Mandiri
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Assessment in December 2010
Level of Inheren
Quality of Risk ManaRisk gement Implementation
Low to Moderate
Fair
Low
Strong
Low to Moderate
Satisfactory
Moderate
Fair
Low
Fair
Low to Moderate
Fair
Low to Moderate
Strong
Low
Strong
Low to Moderate
Satisfactory
No. 13/23/PBI/2011 on Risk Management Implementaion
for Sharia Commercial Bank, Bank will arrange Risk
Management Policy for Return Policy and Investment Policy.
To strengthen internalization of risk management
implementation, Bank established Financing Assessment
Unit function to decide business unit joint financing. Besides,
Bank developed training focused on risk awareness
development for all employees. To acquire a more accurate
risk measurement, Bank keeps on developing a more
sensitive risk profile parameters to Bank’s condition.
183
184
Annual Report 2011 PT Bank Syariah Mandiri
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corporate social
responsibility report
Bank consistently performs Corporate
Social Responsibility (CSR) as the
realization of company awareness as
well as appreciation to people who
have given trust and support on Sharia
Banking business process.
Rp16.84 billion
Social fund channeling and BSM zakat in
CSR activities.
Annual Report 2011 PT Bank Syariah Mandiri
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Using the Triple Bottom Line approach covering economic
indicators, environment indicators and social indicators, BSM
expects to render benefits not only to the shareholders but
also for stakeholders; customers, people and environment.
In other words, BSM seeks to maximize company’s profit in
line with the purpose of giving the biggest possible benefit for
people and environment (planet). BSM believes that such a
comprehensive approach will support to reach sustainable
development, i.e. the development activities to fulfill today’s
generation need without sacrificing future generation.
Running sharia banking business activities, the Bank also
assumes responsibilities on business activity processes. One
of the responsibilities is social responsibility for customers,
non-customer stakeholders and environment.
A. Bank Commitment to Consumer
Protection
BSM always puts priority to satisfy customers by giving the best
service. The Bank does not only sell safe and useful banking
products but also gives maximum protection to the customers.
The company’s commitment to customer protection, among
others are:
I. Customer saving assurance
Customer’s trust to banking industry is the key to maintain
stability of banking system. Trust will grow if the regulation
comes with legal aspects of Bank’s supervision and Bank’s
customer saving assurance. As regulated in the Law No.
24 year 2004 on Indonesia Deposit Insurance Corporation
(LPS), BSM insures the money deposited by customers
through LPS.
II. Customer Care center
BSM has established Customer Care Center. Multiply
channels are made available for customers to access this
Center:
1. Sharia Mandiri Call Center (021) 52997755 operated 24
hours.
2. Email: callbsm@syariahmandiri.co.id.
3. Customer Service at the nearest Branches
III. Customer Service Improvement Program
To further improve service quality, additional campaign
programs have been launched as follows:
a. BSM Gelegar Hadiah (lottery prize).
b. Customer Gets Customer
c. Fantasy (Direct Gifts).
d. Cheers End of Year (Direct Gift).
e. Business Gathering with Consumers
Through Customer Care Centre, the Bank gives quick respond
to compalints and wise settlement.
1. The Bank has established Service Quality Management
(SQM) under the Operation Division that focuses on
handling and following up customer’s complaint. Customer
may complain at any branch office by filling out the
customer application / complaint form or contacting the
Customer Call Centre.
2. The follow-up mechanism to customer’s complaint are as
follows:
a. Customer complaints at branch office or Call Center,
b. The staff in charge of handling complaints pass the
inputs from customers to the Complaint Management
System (CMS),
c. The data recorded in CMS will be monitored and
followed up by SQM’s Customer Care Unit
d. Information/answer received by related work units will be
passed to the staff in charge of receiving complaints.
e. The staff in charge of receiving complaints will continue
passing solution information / answer to customers;
f. The staff in charge of receiving complaint will change
complaint status in CMS to “Settled”
3. Rate of customer complaint settlement in 2011 looks as
follows:
Quarter
2011 Quarter 1
Quarter 2
Quarter 3
Quarter 4
Total Number of Complaint
ReceivingSettlement
417
408
390
472
1687 418
408
391
469
1686*
*) 1 consumer’s complains are in the settlement process
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Annual Report 2011 PT Bank Syariah Mandiri
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4. The Bank’s Programs in improving service quality:
To improve customer service quality, the Bank embarks on
such programs as:
a. Preparing service guidelines pursuant to customer’s
needs and expectations.
b. Implementing Service Quality Assurance (SQA)
consistenly at branch offices through:
1) Communication Forum, minimum once a month.
2) Role Play, minimum 3 times a week
3) Morning Briefing, minimum once a week.
c. Service Champion Officer (SCO) forum, training for
branch’s SCO officers in charge of service standard
implementation at branch offices;
d. Service Excellence training and education for Frontliners to enhance front-liners’ knowledge, skill and
attitude in 121 branch offices;
e. Workshop Service Excellence were conducted in 5
(five) barometer cities (Jakarta, Medan, Bandung,
Surabaya and Makassar). One of the agenda in
the workshop was sharing experience from Bank
Mandiri on the strategy to face BSM survey to Head
of Branch Office, Head of Sub-Branch Office and
Operation Managers.
f. Leadership Service training for head of branch office
as service agent,
g. Service Excellence training for Security Guards
for their security knowledge, skill and attitude, in
cooperation with Bank Mandiri Security Department;
h. Cooperation with Bank Mandiri to improve the Bank
service quality, especially for Customer Care & Service
Group, Culture Group and Security Department.
i. Cooperation with service quality assessment
consultants, i.e. Marketing Research Indonesia (MRI)
and Frontier;
j. Coordination with DSL to improve cooperation with
security service providers;
k. Revising guidelines and service tools for; front-liners
service guideline (CS, Tellers, Security), branch
physical aspect guidelines, Sharia Banking Frequently
Asked Question (FAQ), and proposal for single number
call center to DAC;
l. Improvement in the method of complaint monitoring,
handling and settling
m. Improvement in the method of customer complaint
database record that is recorded in the Complaint
Management System;
n. Assigning the BSM Call as a channel to receive
customer complaints by phone and emails;
Annual Report 2011 PT Bank Syariah Mandiri
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o. Developing a more comprehensive customer complaint
record system that can be accessed by all work units
at the Head Office and Branch Offices.
B. CSR Activity
The fourth mission of BSM is to develop universal values.
BSM has also cultivated shared values by the name of
“ETHIC” as a Value Driven Company that consistently
implements the values at the workplace environment.
As part of the shared values, humanity represents Social
Responsibility as one of the core behaviors: caring for the
living and social environment without overlooking company
goals.
In putting CSR into practice, BSM has fostered cooperation
with LAZNAS BSM/Lembaga Mitra for distributing the
company alms and running Humanity action programs. The
CSR program cooperation implementation is based on the
Cooperation Agreement (PKS) between BSM and LAZNAZ
BSM No. 12/410-PKS/DIR; N0. 09/001/LAZBSM/DIR dated
12 November 2010 on Distribution of Zakat alms and Program
fund.
BSM realizes that Corporate Social Responsibility (CSR)
has an important role in supporting the company’s growth.
BSM puts CSR as a part of the long term business program..
In achieving sustainable business, BSM seeks not only to
optimize economic performance for the shareholders but the
bank is also concerned with how to contribute maximally in
social and environment aspects.
In implementing CSR activities, BSM uses profit people and
planet balance approach that is mostly known as triple bottom
lines. The Bank pursues not only economic interests (profit)
but also social (people) and environment (planet) aspects.
The Bank seeks to reach the balance of ‘triple bottom lines’
in reaching for the company goals for giving added values to
stakeholders. The increasing and sustainable profit attainment
will be difficult to reach if the social condition is non-conducive
and the environment (planet) is damaged. It can be simply
explained that the business will not run well in a poor social
and environmental condition. For this reason, BSM realizes
the importance of CSR as an effort to reach the balance of
‘triple bottom lines’ in order to support sustainable business so
the final goal to meet stakeholders interest can be attained.
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BSM consistently performs CSR activities as an actualization
and appreciation to costumers who for their trust and support
to sharia banking business process. The sustainability
of Bank’s business cannot be set apart from people’s
participation in accepting sharia banking products and
services offered.
Types of Activities funded from Social Fund distribution:
a. Environment: Seed Procurement at Cicadas village
Subang
b. Religious Facilities: Renovating Umar bin Khatab
mosque in Cibubur, Abdullah Ibnu Umar mosque in
CimoneTangerang, Al Ihsan mosque in Bekasi , Jabar,
Miftahul Huda mosque in Malang, East Java, Darussalam mosque Kuningan Barat Mampang Prapatan,
Al-Ghufron mosque in Bekasi.
c. Health Program: health treatment for poor people,
mass circumcision
d. Education: Computers and book cases for Tamansari
05 elementary school -Bogor, Constructing classrooms
for Madrasah, scholarship for street children actors /
actresses of Rindu Purnama Film, sharia mini bank
equipment for Universitas Muhammadiyah Sumatra
Utara, constructing Female Boarding House Ummahatul Munawaroh Magelang, constructing class room for
Al Furqon Boarding House, Tasikmalaya.
e. Social Activities: “Mudik Bareng (Annual Exodus
Rides)” with low level employees and less fortunate
people, sharing joy with orphans
In 2011, BSM distributed company zakat fund of 2008 and
2009 through Laznas BSM for Rp15.77 billion, or up by
Rp2.89 billion compared to that of the previous period.
As a form of company’s commitment to various kinds of social
activities, the Bank provides reasonable and adequate fund
to support CSR programs that increases consistently. The
implementation of CSR programs has 3 (three) types of fund
sources: Charity Fund, Zakat alms, and CSR Operation Fund.
1. Fund Sources
As a form of Bank’s commitment to make CSR a part
of company plans, adequate budget to support CSR
programs is provided.
a. Social Fund
The sources of charity fund are penalties and other
social funds. The balance in the end of 2011 for CSR
from charity fund reached Rp2,31,72,83 or up by
Rp7,072,582 from that in 2010.
b. Zakat Fund
Zakat fund is the alms that the Company (BSM)
Zakat distributes through the National Zakat Amil
Board - Bangun Sejahtera Mitra (LAZNAS BSM).
c. CSR Operation Fund
CSR Operational fund derives from company operation budget. In 2011, BSM spent CSR Operation Fund
Rp136,242,000.
3. Synergy with Laznas
Zakat deriving from company (bank) zakat, employee
zakat , customer and public zakat were distributed to the
beneficiaries in synergy with LAZNAS BSM. The fund
was extended to empowerment programs consisting of
Mitra Umat (People’s Partner), Didik Umat (Education for
People), Simpati Umat (People’s Sympathy).
2. Fund Distribution
188
Bank distributed all funds; Social Fund, Zakat Fund and
Operation Fund.
Annual Report 2011 PT Bank Syariah Mandiri
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Bank cooperates with Laznas BSM to
channel CSR fund through useful
programs those are Mitra Umat, Didik
Umat dan Simpati Umat.
Program
20102011 Growth
(Rp) Million
%
Mitra Umat
24
1.417
5.804
Didik Umat
1.559
5.708
266
Simpati Umat
2.899
7.397
155
Dana Program
2.073
929
Total
6.555
15.451
-55
136
To keep the CSR program implementation on target, all
CSR programs must be based on the survey and mapping
of surronding environment and community. CSR programs
should be arranged based on planning and good concept
and in synegy with the National Zakat Agency (LAZNAS)
BSM. To maximize the implementation of the programs,
the CSR program should be adjusted with surrounding
environment involving related parties, the government and
local people.
4. BSM Policy related to Pro Environment:
1. Circular Letter (SE) No.8/0010PEM 2 January 2006 on
Financing Guideline Revision
Annual Report 2011 PT Bank Syariah Mandiri
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2. The provision on environment management obligation
for financing customer is regulated in:
Ketentuan tentang kewajiban pengelolaan lingkungan
untuk nasabah pembiayaan diatur dalam:
a. Chapter II article 210 point E Financing Policy
“Bank must avoid financing business that is not
fulfilling environment/AMDAL regulation that is
harmful to the environmet”
b. Chapter IV point A on Productive Asset Quality,
Assessment of Financing Asset for financing
customer prospect pillar related to customer effort in
maintaining environment.
c. Chapter XI point D Financing Process sub chapter
Productive Financing Analysis.
In assessing technical/production aspects Bank is
required to analyze environment al impacts, covering:
1) Level of pollution in production process,
2) Facility to avoid pollution/waste treatment has
met the regulation or not,
3) Complaint form surrounding inhabitants in which
the business/factory operates
4) Must pat attention to the prevailing government’s
regulation that is customer/applicant has AMDAL
permission from institution in charge.
3. Circular Letter (SE) No. 9/029-PEM dated 26 July
2007 titled Policy Guidelines Revision Chapter VI. On
Productive Asset Quality. Sub chapter A.3.b.3). The
assessment of financing customer business prospect
especially for component related to customer effort in
maintaining environment..
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3) Religious Affairs
CSR programs for social/culture/religious sectors
were realized in donation for the poor including the
dhuafa, Ramadhan, and other programs.
5.Program
BSM believes that Bank performance must exert positive
impacts on people’s welfare enhancement that in turn
will support sustainable Bank business development. For
this reason, the Bank has carried out various social and
environment activities, such as:
a. Partnership Program
CSR implementation in people economic development
sector is aimed at creating people independency to
reach long term welfare enhancement. This kind of
CSR program is implemented in the form of financial
assistance, facilities, etc.
b. Community Development Program
During 2011, the Bank has performed community
development programs, such as:
1) Education and Training Sector
The program was focused on education quality
enhancement through scholarship for poor families.
The activity was conducted comprehensively both at
the Jakarta Head Office and Branch Offices all over
Indonesia.
2) Public Facilities
CSR programs for public facilities were embodied
in renovating and constructing madrasah/mosque,
public facilities and other programs.
4) Improvement in Public Health and Environment
The public health service activities were embodied
in medical assistance, blood donor, mass
circumcision, and other programs. Meanwhile, for
environmental conservation the activity conducted
was mangrove planting. The activities were
conducted both by the Head Office in Jakarta and
Branch Offices in various areas.
c.BSM Let’s Read
For the first time, BSM organized Book Review
concurrently at the Head Office and 123 Branch
Offices. The activity was attended by 6,604 employees
(454 Head Office employees and 6,150 Branch
Office employees). The books under review are
entitled Inteligensia Muslim dan Kuasa; Genealogi
Inteligensia Muslim Indonesia Abad Ke-20, written by
Yudi Latif and Islam dalam Bingkai Keindonesiaan dan
Kemanusiaan written by Ahmad Syafii Maarif.
BSM Let’s Read program received WORLD RECORD
title from the National Museum of Records (MURI) as
the Simultaneous Book Live Review in the Biggest
Number of Venues” The certificate was handed over
by the MURI founder, Jaya Suprana.
Partnership Program
No
1
Sub Program
Activities
Economic
Help bike for around newspaper vendors
Empowerment
working with BSM Cibinong
Aid aquaculture cages BSM cooperation
Region
Recipients
Amount (Rp)
Bogor
55 people
62.400.000
Simeleu
20 people
20.000.000
Yogyakarta
50 people
152.833.500
Jakarta
9 people
50.000.000
Semeleu
Assistance to refugees Etawa goats trim
disaster
Help working capital and beverage outlets of
The Real Tea
Total
190
285.233.500
Annual Report 2011 PT Bank Syariah Mandiri
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.d.BSM Club Cares
Also for the first time, the Company organized BSM
Club Cares in 2011. The activity was the embodiment
of BSM care towards education and people economy.
The activity provides scholarship to 10 (ten) students
of Junior High School to enroll to higher schools,
Banten, loom and food for Baduy native People.
e. Other Community Organizations
The Company management members are also active
in various social activities such as:
a. Perbanas’ Sharia Banking Compartment (KPBS
Perbanas)
b. Association of Sharia Economy Experts (IAEA)
c. Sharia Economy Community (MES)
d. Center for Sharia Economy Communication (PKES)
e. Chambers of Commerce and Industry (KADIN)
f. Banker Association for Risk Management (BARa)
g. Alumni Association of University of Indonesia,
Faculty of Economics (ILUNI FE)
h. Association of Indonesian Muslim Intellectuals
(ICMI)
i. Indonesian Banker Association (IBI)
j. Banking Compliance Director Communication Forum
(FKDKP)
k. Association of Indonesian Audit Committee
l. Gathering Forum Offices (Forsimpta)
f. Organizing BSM Edu Award 2011
BSM Edu Award aims to extend appreciation to the
teachers for contribution and benefits to local people’s
education, both formal and informal teachers.
of voting reached 175,000 in the 10 November to 17
December 2011 period.
c. Organizing UMKM Award
To achieve people welfare objective, the Company
keeps on encouraging UMKM business development.
The Company has organized BSM UMKM Award for
4 (four) consecutive years, in 2008, 2009, 2010, and
2011. The Objective of BSM UMKM Award is to give
appreciation for BSM-UMKM customers for their loyalty
and achievement as UMKM debtors in BSM. BSM
UMKM Award categories each year are as explained in
the following table.
BSM UMKM Award Winner
Categori General
Specific
2010 2011
1. BPRS
1. BPRS
2. KJKS/KSU/BMT/Sharia Cooperation (Kopsyah)
2. Sharia Finance Service Cooperation (KJKS)/ Baitul Mal Wat Tamwil (BMT)
3. Employee Cooperatives:
TNI, POLRI, PNS
4. Employee Cooperatives :
BUMN, BUMD
5. Employee Cooperatives of
Private Companies
6. Micro Riil Sector
7. Small Micro Sector
8. Medium Riil Sector
3. Employee Cooperatives :
BUMN, BUMD
4. Employee Cooperatives :
TNI, POLRI, PNS
5. Employee Cooperatives of
Private Companies
6. Micro Riil Sector
7. Small Micro Sectorl
8. Medium Riil Sector
1. DNS KLH
1.SUP 005 Program
2. SUP 005
2.KUR Program
3.KUR
Edu Award 2011 invited people’s participation through
social media of facebook and twitter. About 80 thousand
facebook account holders and 18 thousands tweets
participated actively in the process of selection to make
Edu Award 2011 program a tool to raise BSM public
image. The Names of teachers were proposed by people
and should be voted as many as possible. The amount
Green
UMKM
Award given to UMKM
customer that was the most
concern and having big
contribution toward the effort of
environmental protection
Award given to UMKM
customer from the aspect of
Maqashid Syariah: from 10
winners elected The Most
Sharia Oriented SME Leader
was Bandar Lampung BMT
BSM Edu Award Winner
Rank Winner School Institution
Voting
Total
Facebook Tweeter In House Voting Comment Point
1.
Ibu Nurliawati
SMPN 81 Jakarta
21.811
16.957
1.018
250 11.649
2.
Bpk. Zulharmansyah
SMAN 1 Majenang
27.400
988
129
102 11.164
3.
Bpk. Muryanto
SMA Putra Pajajaran Bandung
23.964
132
25
5 9.615
Annual Report 2011 PT Bank Syariah Mandiri
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191
corporate social
responsibility
report
Environment Program
No
1
2
Sub Program
Education and
Training
Public Facilities
Activities
Scholarship Program for SD, SMP dan SMU
Scholarship Program for student of PPSDMS
Scholarship Program for student of STIE SEBI
Scholarship Program for student of Universitas
Muhamadiyah dan YCI Serambi Mekah
Scholarship Program for GSM BSM Aceh
Scholarship Program for GSM BSM Pekanbaru
Scholarship Program for GSM BSM Solo
Scholarship Program for GSM BSM Cilegon
Scholarship Program for Actors of Rindu
Purnama
Scholarship Program for program of student
saving movement of BSM
Educational Program for MI Al-Qomariyah
Educational Program for Griya Bina Kijang
Educational Program for Mini Bank UMSU
Educational Program for Kep. Sek SDN
Tamansari 05
Educational Program for Dhuafa
Empowerment training aid for IMZ
Operational Aid for LAZNAS BSM
Operational support of education
Education Operational support of MI Al Muhsin I
Activities Support for Rumah Yatim dan Dhuafa
(RUHAMA)
Total
Development of Masjid Al-Ihsan Bekasi
Development of Masjid Miftahul huda
Development of Masjid Darussalam
Development of Ponpes Umahatul Munawaroh
Development of Mushola Pengadilan Agama
Development of Masjid Al-Ghufron Bekasi
Timur
Development of Masjid Abu Bakar Ashidiq
Development of Ponpes Al-Furqon
Development of Mushola Al Mutaqin
Renovation of Masjid Abdullah Bin Umar
Renovation of Mushola Ath-Thohirin
Renovation of Tempat Wudhu Masjid Umar
CSR Distribution for Yayasan Mutiara Bangsa
CSR Distribution for BSM dan serikat pekerja
CSR Participation of Pemkap Pekalongan
CSR Participation of Semarang
Rent Payment of LAZNAS BSM Building
Print Books of Tartil Griya AL Quran BSM
Total
Region
Recipients
Amount (Rp)
Indonesia
Jakarta
Bogor
Jakarta
3.000 people
15 people
500 people
5 people
1.371.660.000
48.000.000
283.778.000
39.000.000
Aceh
Pekanbaru
Solo
Cilegon
Jakarta
Jakarta
200 people
200 people
200 people
200 people
52 people
100 people
20.000.000
20.000.000
20.000.000
20.000.000
60.000.000
10.000.000
Garut
Cinere
Medan
Rumpin Bogor
Indonesia
Bogor
Jabodetabek
Indonesia
Yogyakarta
50 people
26 people
1 institution
1 institution
45.000.000
12.000.000
34.932.200
7.500.000
694 people
100 people
1 institution
831 people
1 institution
183.115.500
35.050.000
1.970.571.965
223.120.000
25.000.000
1 institution
10.002.781.861
1 institution
1 institution
1 institution
1 institution
14.431.909.932
56.250.000
11.250.000
11.250.000
5.625.000
1 institution
1 institution
11.250.000
5.000.000
1 institution
1 institution
200 people
1 institution
11 people
1 institution
1 institution
45 people
100 people
14 people
1 institution
100 people
11.250.000
11.250.000
22.250.000
4.500.000
3.375.000
22.500.000
3.3750.000
84.164.062
20.990.270
15.750.000
141.320.000
10.000.000
451.599.812
Jabodetabek
Bekasi
Malang
Jakarta
Magelang
Jaksel
Bekasi
Jakarta
Tasikmalaya
Boyolali\
Cimone
Jakarta
Jakarta
Jakarta
Cilegon
Pekalongan
Semarang
Jakarta
Surabaya
Religious Program
No
1
Sub Program
Religious
Activities
Program Support of Ramadhan Activities
Total
192
Region
All of
Indonesia
Recipients
3.291 people
Amount (Rp)
769.846.000
769.846.000
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Social Health and Environment Program
No
Sub Program
1
Social Health
2
Environment
Activities
Help accident victims PMMan
Hospitalization costs of Annisa Azzahra
Cataract surgery with RSMASK
Harelip operation with RSU Jakarta
Compensation orphans
mass circumcision
Blood donors
Program of healthy family doctor
total
Planting trees in Cicadas Juanda
C.Employment, Health, and Safety
Policy
Region
Palu
Jakarta
Jakarta
Jakarta
Indonesia
Indonesia
Jakarta
Jabodetabek
1 people
1 people
151 people
15 people
1.980 people
350 people
1.150 people
525 people
Jakarta
53 people
Employee Health
Employee Health policy is regulated in Circular Letter
No. 12/007/SDI, dated 8 April 2010, on PT Bank Syariah
Mandiri Health Facility, with the main principles:
a. Health facility regulation for contract worker, employee,
and employee’s children.
b. Health facility covers hospitalization, childbirth,
outpatient, general check up (GCU) and treatment
abroad.
Policy on Contigency Plan is regulated in Circular Letter
No 13/009/OPS, dated 28 April 2011, on Contingency Plan
Core Banking System, the main principles such as:
a. Management crisis organization head and branch
b. Operational implementation when disaster
Recipients
The policy is intended to ensure that bank operational
continue when disaster.
10.000.000
10.732.347
175.850.900
41.997.000
232.099.000
127.710.000
120.340.000
13.100.000
731.929.247
4.525.000
Manager writes memo/fill out form using check list (Form:
MP.DHC.II.2.1), to write work/office environment facilities
that are not feasible/need to be equipped. If there is non
feasible/lack of facilities, there will be evaluation and
proposed to Head of Division.
Employee Turn over
Total turn over as many as 439 employees 2011 people.
When compared with the total employee BSM in 2011, the
rate of employee turnover in 2011 amounted to 5.33%.
Turnover does not have significant impact on financial
performance.
Employee Turn Over of Year 2011
109
Resign
Related to work
1
15
Open your own business
Moving to BSM Cooperation
Amount (Rp)
1
25
Unclear resons
43
Family
Safety Policy
Guidelines on safety, regulated in Employment
Management Guideline ( Manual Procedure) Chapter II,
Sub Chapter B. Work Environment Maintenance No. MP/SI/
PK/2/02, with the main principles such as:
To evaluate work environment regularly, especially:
a. Completeness and feasibility facilities and work
environment
b. Work environment clean
c. Working room lay out harmony
d. The accuracy of working facilities placement.
e. Completeness and feasibility of pretecting facilities
Health
the Contract is Completed
18
Continuing school
19
Got the outside job
87
4
Married
18
Merried with BSM employee
Died
2
PHK
2
63
Termination
Not Perform
www.syariahmandiri.co.id
7
Look for the better job
Pension
Annual Report 2011 PT Bank Syariah Mandiri
3
1
21
193
194
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
human
capital report
BSM ensures every employee has
adequate competency in line with
the duties through the education and
training to increase knowledge & skill and
to improve every employee’s behaviouri.
11,788
The number of employees spread across
669 Branches of BSM.
Annual Report 2011 PT Bank Syariah Mandiri
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human capital
report
As the subject of policy and operation activities to embody
the company’s vision and mission, Human Capital is the
company’s most important asset. To enhance sustainable
professionalism and business performance, the Bank has
prepared programs to develop professional Human Capital
consistently through integrated human capital management.
Human Capital Developing
Sustainable Competitive
Advantage
Level of Career
2011
Executive Vice President
Senior Vice President
Vice President
Development
HC
9
4
19
General Manager
48
44
Assistant General Manager
47
45
Senior Manager
222
42
Manager
313
233
Deputy Manager
338
341
Assistant Manager
549
425
Associate Manager
959
722
Senior Executive
1.063
720
Executive
1.581
1.024
Junior Executive
2.510
1.864
3.454
7.802
5.580
Human Capital Composition by career path at the of 2011:
2011
BSM
2010
OutsourceBSM Outsource
S2 (Post Graduate)
202
4
167
2
S1 (Undergraduate)
6.512
1.196
4.622
174
D3 (Diploma 3)
977
36
680
56
Senior High School
104
2.684
104
1.668
7
66
7
66
Amount
Untill the end of 2011, the number of bank employees
reached 11,788 people, up by 56.23% from 7,546 people
at the end of 2010. The distribution of employees in 2011
was 1,290 (17%) at the Head Office and 6,512 (83%) at
669 (520) Branch Offices and Outlets. The increase in
employees was proportional to the Bank Branch Office
and Outlet expansion in various areas.
70
5.722
Junir High School
(others)
A.Number of Employees
5
68
Total Employees
Level of Education
Culture
3
Outsource
Retention
17
19
Non Clerk
Services
3
18
Assistant Vice President
Associate Executive
Acquisition
Retrenchment
Retirement
2010
Total Employees
7.8023.986 5.5801.966
11.788
7.546
In appreciation of employees’ achievement in their
respective jobs, BSM raised their grade and offered
promotion. In 2011, the company raised the grade of
1,523 employees and promoted 1,182 employees. Before
receiving a higher grade and promotion, employees
would initially join a series of administrative selection and
competency test. Technical Competency (Hard) is tested
by e-learning media, while behavioral competency is
tested through competency assessment.
Human Capital Composition by education background in
2011:
196
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
1. Officer Development Program (ODP)
ODP is a program specialized for preparing employee
promotion into officer position level. Those are
employees from operator level promoted to Officer
Level. In line with the company business strategy, in
2011 special ODP was carried out for Priority Banking
Officers and Pawn Officers (ODP-PBO and ODP)
positions. The number of operator-level employees
joining in the ODP- PBO and Pawn ODP reached 437
employees.
2. Middle Management Development Program
(MMDP)
MMDP is a program for preparing officer level
employees to a manager level position. In this
program the employees are trained for soft and hard
skill and self-development such as time management,
leadership and active presentation capability. There
were 414 employees joining MMDP program in 2011.
B.Recruitment
BSM’s rapid and dynamic growth has driven the need
for higher integrity, innovation, and sound management
to maintain healthy and efficient banking operations. To
meet this need, the Human Capital Division embarks on
regular and special recruitment programs.
Regular Recruitment Program:
Regular recruitment program aims to find prospective
employees. Inviting and selecting prospective employees
are in accordance with the qualifications needed for any
position at work units at the Head office, Regional Offices
and Branch Offices all over Indonesia.
Recruitment process for work units at the Head Office
is facilitated by Human Capital Division meanwhile
recruitment for Branch Offices and sub-Branch offices
can be conducted by a Regional Office or Branch in
coordination with the Human Capital Division.
Special Recruitment Program:
a.Early Recruitment Program (ERP)
ERP is a program to recruit fresh graduates in
cooperation with Universities / education institutions.
ERP program participants are students who meet the
BSM criteria. They will receive training pursuant to
competency needed by BSM.
In 2011, Bank Syariah Mandiri fostered cooperation
with 33 (thirty three) education institutions, both state
and private, throughout Indonesia.
b. Management Development Program (MDP)
MDP is a 9 (nine) month training program to develop
potency and skill of BSM’s prospective employees.
To join in the program, candidates should have more
than just good academic scores but also be active in
student or social organizations. MMDP is a medium to
prepare BSM’s future leaders.
In 2011, BSM performed MDP program for two
seasons, MDP for season 10 and MDP for season 11.
The total participants of MDP were 83 (eighty three)
students in 2011. Since its establishment in 1999, BSM
has performed MDP program for 11 seasons.
The recruitment program begins with administrative
selection, general knowledge test, psychology test, cross
reference process (clarifying data to previous companies),
interview test and medical test.
Annual Report 2011 PT Bank Syariah Mandiri
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human capital
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Bank Syariah Mandiri Recruitment Mechanism
The recruitment of Bank Syariah Mandiri new employee is
conducted in 5 (five) phases of selection, there are:
Administrative Selection
General Knowledge Test
Psychological Test
Interview Test bu User
3. Psychological Test
The next phase is psychology test that aims to
measure intellectual potency, work attitude and
individual personality for a certain applied position.
4. Interview Test by User
If the candidates succeed with the written test, they
will be invited by the user to have an interview. The
interview is intended to find out individual competence
and attitude to occupy certain position (Organization
and job fit). Simultaneously, cross reference (clarifying
data from previous company) is processed.
5.Medical Test
The final test candidates have to take before joining in
BSM is health test. The test is conducted by appointed
medical doctors or clinics to examine candidates’
health condition and feasibility for performing the
assigned job.
C. Organization & Position
Medical Test
The explanation of new employee recruitment is as
follows:
1. Administrative Selection
Administrative selection is a process of screening
administrative documents (application letter/CV) in
accordance with qualification for vacant positions
in BSM. BSM puts priority on candidates having
organization activity background.
In this phase all data received are converted into a
data bank that is integrated to the job portal to prevent
from double processing for candidates.
2. General Knowledge Test
After passing the document screening phase,
applicants are invited to have general knowledge
test. The test is aimed at filtering applicant’s basic
knowledge with a test on general knowledge on
Indonesian language, English, Mathematics and Islam.
198
The Bank Organization will continuously be adjusted to
the business plan and business activity development. For
this reason, Bank needs good and balanced organization
governance between strategy and support in the form of
adequate infrastructure. Organizational structure, position,
and job descriptions are arranged in the Organization
Guidelines.
D. Remuneration System
The Bank always seeks to improve employee welfare
through the implementation of guaranteed cash system
and other staff facilities. Facing tighter competition era,
the Bank creates attractive and competitive remuneration
package that is continuously reviewed to ensure that the
bank employees receive competitive package. In 2011, the
Management agreed to increase employee basic salary at
the average of 14.5%.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
E.Reward & Punishment Policy
The Bank always seeks to improve employee welfare in
line with the work achievement through the implementation
of guaranteed cash system and other staffing facilities.
Besides reward as an appreciation to employee
perforrmance, the Bank also adopts fair punishmnent
system for employees who commit fraud or violence
against BSM’s regulation. Punishments given are
individual notice, warning, and sanction in pursuant to the
level of violence.
BSM’ reward system is based on quarterly performance
assessment. BSM has given various kinds of rewards for
employees such as work unit achievement allowance,
annual bonus, performance allowance, and scholarship
for the magister program (S2). Besides promotion and
scholarship program, many other kinds of reward are
given to employees. In 2011, the Work Unit Achievement
Allowance (TPUK) was given to employees based on
quarterly performance evaluation. The value of TPUK
provided for the employees for 3 (three) quarters in 2011
was 7.05 times of the basic salary.
F. Competency
Competency is a concept that can be defined as a
combination of knowledge, skill and behavior or mostly
known as Competency-Based Human Resource
Management (CBHRM).
CBHRM is an approach to develop excellent human capital
management system with competency as the central point.
The system enables the company to enhance effectivity
and consistency in implementing the system of recruitment,
selection, promotion, compensation, performance
assessment, education and training, career planning, wok
management as well as strategic planning of human capital
sector to the most optimal point.
Bank Syariah Mandiri Competency Model covers Position
Cluster, Type of Competency, and Profile Competency
mapping process is renewed continuously complying with the
company’s business strategy.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
The urgency of Competency Model Usage is for new
employee recruitment process, rotation process, employee
mutation and promotion and as one of indicators of employee
work achievement in the company.
The urgency of Competency Model Usage is for new
employee recruitment process, rotation process, employee
mutation and promotion and as one of indicators of employee
work achievement in company.
G.Employee Evaluation
The implementation of employee performance management
in general involves work planning and performance
evaluation.
Performance Planning System is integrative among the
Corporate, Directorates, Work Units and individuals with the
following phases:
Phase I: Bank arranges overall target in Bank Business Plan (RBB)
approved by Board of Directors/shareholders.
Phase II:
Work Units determine work unit’s target complying with
RBB in the form of BSC. The work unit’s target dircetly
becomes head of work unit’s target in the form of BSC
Desk, Regional Office and Branch Office KPI .
Phase III:
Work Unit arranges target for each employee based on
work unit target. The target is calibrated by Head of Work
Unit to each employee referring to strategic target based
on BSC (KPI) and routine target based on job description
Performance evaluation is a process of work achievement
assessment by comparing target to realization of strategic
target achievement continuously. The assessment is
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human capital
report
interactive and open in which each leader has discussion
with employees on development and problems faced in
work.
Performance evaluation holds on to primary principle that is
the orientation to achieve target and to support employee to
develop skill in work. Head of Work Unit and superiors are
responsible for giving direct guidance and motivation such
as; coaching, counseling or feed back to subordinates to
work better and to avoid failure in reaching target in the end
of year.
Performance evaluation consists of 2 (two) main
components, they are:
a. Target:
Showing quantitative aspect of work target (result
oriented)
b. Process:
Representing qualitative aspect of performance
(method oriented)
H.Just and Equality
BSM has motto “Just and Pacifying”. The motto affects
both internally (employee) and externally (customer).
Just treatment is reflected in compensation for employee
complying with 3P principle:
a. Pay for Performance
Employee receives compensation based on
performance.
b. Pay for Position:
Employee receives compensation based on position
c. Pay for Person:
Employee receives compensation based on individual
skill.
200
BSM has company values, ETHIC (Excellence, Teamwork,
Humanity, Integrity and Customer Focus). The values
become the soul in every activity of BSM employees and
management.
I. Employee Development
BSM allows employees to continue study to support them
to do the best in performing their work and to develop their
career. The Bank gives training and development program
to improve ability, capacity and productivity in the form
of house training, public training as well as e-learning. In
2011, the average of BSM employee joining training was
1.56 times, the average of learning time of BSM employee
was 86,35 hours and the average of number of employee
training day was 10.79 days. BSM consistently increases
the budget of employee development to RP 54.47 billion
from 32.92 billion in 2010.
J. Education and Training
In line with the growing business, the Bank must
ensure that every employee has adequate professional
competency. For this reason, the Bank embarks on various
kinds of education and training to improve knowledge,
skill and employee behaviour, through education and
training in-house training, public training, e-learning and
scholarship for Post Graduate Program.
In 2011, the average of BSM employee joining training
was 1.56 times, the average of learning time of BSM
employee was 86,35 hours and the average of amount of
day employee training was 10.79 days. Learning duration
through e-learning was 182,737 hours with online test
participants was 104,884. BSM consistently increases
the budget of employee development to RP 54.47 billion
from 32.92 billion in 2010.
Education and training programs organized by bank
consist of three categories such as:
1. Orientation & Development Program (Education
program)
2. Banking Academy
3. Enhancement Program
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Learning through e-leraning continues
to be developed to increase employees’
competency. Every employee can
access training module through
E-learning.
Education and Training Program Scheme
Orientation & Development Program
Education
and Training
Program
Banking Staff Program
Leadership Development Program
Micro. Retail & Consumer Banking Academy
Banking Academy
Commercial & Corporate Banking Academy
Operation & Support Academy
Sales & Services Academy
Leadership & Strategic Skills Enhancement
Enhancement Program
Business & Operation Banking Competencies Improvement
Public Training, Scholarship & Certification
During 2011 Bank organized 512 in-house training
classes involving 12,346 participants. Bank also sent 268
employees in 190 public training program in 2011.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Education Program
The improvement of knowledge, skill and behaviour through
education program is intended for new bank employee and
those who are going to have duties in higher level position
with education scheme in Bank as follows:
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human capital
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Education and Training Program
First-Line manager
(Kacab, kabag, Ka. Unit
Kerja)
Banking Officer
(Officer, Ka. Sie, Ka. KCP)
BSP-Officer (Banking Staff
Program for Officer) atau
(MDP)
Fresh Graduate, New Entry
Management Development
Program (MDP)
BSP-Manager
(Banking Staff Program for
Manager)
Banking Staf Program (BSP)
Level Staff
Officer Development
Program (ODP)
Level Officer
Middle Management
Development Program
(MMDP)
Level Middle
Manager
Level Senior
Manager
Senior Management
Development Program (SMDP)
The education scheme above uses total solution blended
learning method combining e-learning, in-class, on the
job training/individual project assignment, coaching and
mentoring to ensure the purpose of the education achieved
by the participants. This program is intended to ensure
remployee’s eadiness and reliability in fulfilling duties so
OTJ method and other assignments take the biggest part
of time allocation among other methods. The OJT planning
is adapted with the complexity of duties faced by employee
in the field.
E-Learning
202
In-Class
All participants joined the evaluation in the end of
education. Bank has developed comprehensive evaluation
method covering suc as:
lTes on-line melalui e-learning On-line test thorugh
e-learning
lRole Play Role Play
lSimulasi Simulation
lInterview Interview
lPresentasi Presentation
lPortofolio review Portofolio review
lCompetency review Competency review
On The Job Training,
Coaching & Monitoring
Learning Evaluation
Annual Report 2011 PT Bank Syariah Mandiri
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Education Program for Bank employee are:
1. Banking Staff Program (BSP)
sharpen new employee skill specification. BSP consists
of several sub programs, they are:
a. Staff/executor level
l BSM BSP for General,
l BSM BSP for Frontliners,
l BSM BSP for Operation Banking,
l BSM BSP for Business Banking,
l BSM BSP for Retail Banking,
l BSM BSP for Micro Financing Analyst,
l BSM BSP for Pawning Staff
b.BSP for Officer
c.BSP for Manager
2. Management Development Program (MDP)
This program is intended to prepare future bank leader.
Bank organized MDP for lifting 9, 10, and 11 involving
128 participants in 2011.
3. Officer Development Program (ODP)
ODP is a program intended for executor employees
promoted to officer level. Bank organized ODP involving
276 employees in 2011.
4. Middle Manager Development Program (MMDP)
MMDP is a program for employee from officer level
position promoted to Manager level position. Bank
organized MMDP involving 291 employees in 2011.
5. Senior Manager Development Program (SMDP)
SMDP is aprogram intended for officers promoted to
Senior Manager level.
Banking Academy
Banking Academy training program is intended to improve
employee’s knowlwdge, skill and behaviour performed
structured through series program activities such as:
1. Micro, retail & consumer banking academy
2. Commercial & corporate banking academy
3. Operation & support banking academy
4. Sales & service banking academy
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Bank has organized in-class training program in banking
academy category for 188 kinds of training programs, 403
classes and 9,603 participants.
Enhancement Program
Enhancement program is intended to maintain up to date
employee’s knowledge, skill and bahaviour in line with the
demands of bank business,, industrial dynamics, and global
best practice such as:
1.Workshop
Workshop is an activity facilitated by Bank with the
purpose to produce recommendation in improving
knowledge and other regulations for bank advance
structuredly performed through determined series of
activities. Bank conducted 12 kinds of workshops, 13
classes and 509 participants in 2011.
2. Certification Program
Certification program is a program of development,
improvement and knowledge assessment and
employee skill in certain work field. Bank held various
kind of certification program such as risk management
certification, mutual fund agent, bancassurance, wealth
management, IT, audit, Human Capital practitioner,
and many more. These programs are intended to
increase Bank employee competency standard in
accordance with Industrial standard. Bank sent 1,012
employees to join certification program in 2011.
3. Public Training
Public training is education and training held and
organized by external perty ( both national and
international), meanwhile Bank only sends participants
to join education and training. BSM sent 268 employees
to join 190 public training programs in 2011.
4. Post Graduate Scholarship Program
Post Graduate scholarship program is a education
program, financed by Bank for employee meeting the
requirement and regulation set by Bank. The purposes
of this program are:
lTo give opportunities for the Bank’s best employees
to improve skill in the field that support the achievement
of vision, missions, and Bank business target.
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human capital
report
2. Distance Learning
Training with distance learning method is a training
for employee without integration wit in class training.
Participants are given chance to learn via e-learning and
then their comprehension level is evaluated. During
2011 BSM organized training through e-learning in the
form of Sharia Banking technical knowledge competition
for 750 participants, refreshment, and online test. The
amount of employee joining SE refreshment test from
executor level to head of branch/division for 7.626
employees.
enlarge employee’s knowledge towards tren and
business best practices that has benefit for bank
business development.
lTo attract and maintain outstanding employees
lTo
Bank sent 19 employees to join S2 scholarship in 2011
and 5 employees in 2010.
K. e-Learning
Learning through e-learning is continuously developed to
increase employee’s competency. Each employee now can
access various training modules through e-learning. BSM
supports learning process through e-learning by adding
macromedia base modules as many as 8 moduls in 2011.
BSM employee can access 1282 material in the form of
power points through e-learning. Learning process through
e-learning is improved by producing self video learning as
many as two materials in 2011.
The learning process through e-learning from year to year
is increasing. E-learning utilities in 2011 increased the
amount of moduls used fot online test for 83% from 41
moduls in 2010 to 75 moduls in 2011. Employee’s Visit (hits)
to e-learning increased 69%, that was from 157,379 hits
in 2010 to 266,180 hits in 2011 (increased 203%). BSM’s
employee visits hour to e-learning increased from 113,738
hours to 182,7737 hours in 2011 (increased 61%).
Learning and training method through e-learning uses some
methods, such as:
1. Blended Learning
Blended Learning is a learning method combining online
in e-learning method and in class method. The activity
to read modul and and online test become a part of
pre class training integrated with in class training. The
participants of blended learning in 2011 were 2,941
participants or increased 15% compared to that in 2010
at 2,539 participants.
In Class
Training
Skill, Attitude, and
Competency Driven
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l
l
Field Observation
Action Plan
Presentation
Tools Simulation
l Role Play
l Case Study
l Group Discussion
l
Explanation 2010
1. Test Execution
2011
Growth
405
474
17%
2. Training Program 29
41
41%
3. on line Modul Test 41
75
83%
4. Visit (hits)
157.379
266.180
69%
5. visit hour 113.738
182.737
61%
34.623
104.884
203%
6. Test Participants E-Learning
Training
l
l
Reading Time
Pre and Post Test
Reading
Video Based Learning
l Active Flash/Video
l
Knowledge and
Skill Driven
l
based Learning
l
Forum Discussion
Annual Report 2011 PT Bank Syariah Mandiri
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L.Knowledge Implementation
One of Bank Syariah Mandir (BSM) Human Capital focuses
in 2011 was Knowledge Management implementation.
This program is intended to collect all knowledge, skill and
work experience of employee to become information source
that can be accessed by all employees to increase their
competency. Specifically, the description of Knowledge
Management (KM) implementation at BSM is:
1. To facilitate Knowledge Management (KM)
Implementation via e-learning.
As a part of Bank Knowledge Management
development and e-learning optimization as learning
media so every employee can share knowledge
(knowlwdge sharing) easily.
2. BSM Innovation Award Implementation.
BSM believes that employee knowledge development
is a strong capital fot business growth and organization
development. This belief is implemented in BSM
program Innovation Award is an award given by BSM to
employee creating innovation and it was implemented
during the period of 2005-2010.
BSM involed internal and external juries to select and
determine the winner. As the winner, selected with the
title “SYAMS” (Syariah Mandiri Switching System) by
Erick Suryawan. This system gives benefits for BSM,
that is minimizing switching cost. Some other winners
were BSM Net, BSM Mobile Banking GPRS, Balance
Score Card, and e-learning.
4. Participation in Indonesia MAKE (Most Admired
Knowledge Enterprise) Study.
Indonesian MAKE Study is an initiative of knowledge
management measurement organized by Dunamis
Organization Services and Teleos-England. MAKE
Study is aimed at developing knowledge management
activities and to measure commitment level and maturity
of based knowledge organizations in Indonesia.
Every organization joining in this activity will have a
chance to receive award as one of the most admired
knowledge base organization in Indonesia or called
MAKE Award
In its first time of participation, BSM could go through
to Nomination Stage. BSN was nominated to be one of
companies included into knowledge enterprise crtiteria
among 96 companies. Then, panelists determined 17
companies as finalists and BSM was one of them
.
5. Knowledge Sharing
Knowledge Sharing becomes culture for employee from
employee to BSM board of directors. Employee joining
training internal or public training must share knowledge
to other employees. This activity can be done in each
work unit or through e-learning.
3. Knowledge Management (KM) Workshop.
BSM organized KM Workshop to guide BSM executive
and employee in implementing KM. The Workshop
was attended by Boad of Directors, Executive and
representatives from all work units.
Annual Report 2011 PT Bank Syariah Mandiri
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206
Annual Report 2011 PT Bank Syariah Mandiri
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compliance
report
The Bank operation compliance keeps
improving with the culture of Procedure
Compliance in effort to comply
with Bank Indonesia regulation and the
prevailing laws.
96.19
Bank compliance index, in 2011 reached
96.19 (compliance rate qualification
“High”).
Annual Report 2011 PT Bank Syariah Mandiri
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compliance
report
The Bank has implemented compliance function since
the end of 1999 (comlpying with BI regulation No.1/9/
PBI/1999), including the Compliance Function report on
the pricnciples of The Performance of Compliance Director
to Bank Indonesia quarterly. Along with the issuance of PBI
No.13/2/PBI/2011 dated 12 January 2011 on Compliance
Function Implementation for Commercial Banks, in line with
this regulation BSM has submitted a report on Implementation
of Duties and Responsibilities of Compliance Director to
Bank Indoensia for the first time in the end of January 2012.
This report described BSM compliance to law and prevailing
regulations, including Sharia principle for Sharia Commercial
Banks.
The issuance of PBI No. 13/2/PBI/2011 generates Bank’s
awareness in managing Compliance Risk faced, thus all
potential Compliance Risks predicted to occur can be
mitigated well to minimize Bank Compliance Risk.
The Bank upholds a strong commitment to comply with the
law and regualtions and to avoid sanctions from the regulator
(Bank Indonesia) that can affect bank’s reputation in the
eyes of Stakeholders. For this reason, BSM always prevents
from having any kind of sanctions; written warning, declining
standard of bank’s soundness, suspension of certain business
activity, and discharging Bank Management.
Therefore, all levels of bank management must understand
all prevailing regulations for each operational function daily.
Compliance is a responsibility of each individual and it is not
merely responsibility of the Compliance Work Unit (SKK).
Compliance Culture is an important element from all activities
performed by the Bank from the highest level, Directors,
to the lowest level of Bank Management. SKK coordinates
Compliance Function implementation and ensures Bank
management understanding on all regulations implemented
well through prudent banking practice complied with the
prevailing regulations.
208
A.BSM Compliance
Implementation Year 2011
Accompanying the issuance of PBI No.13/2/
PBI/2011 dated 12 January 2011 on Compliance
Function Implementation for Commercial Banks, the
implementation of BSM Compliance in 2011 worked well
compliant with the prevailing regulation. Revitalization of
Compliance Division organization has been performed
to anticipate Bank’s business growth. Bank Operation
Compliance is getting better along with the culture of
performing Compliance Procedure in complying all Bank
Indonesia regulations and prevailing laws.
Bank Compliance Index semester I year 2011 was
92.23 (compliance qualification rate “High”) increased
compared to Semester II in 2010 at the rate 92.97 (
compliance qualifcation rate “High”). This shows that
the ascertainment activity of compliance to all Bank
operations (Financing and Non Financing) has optimally
been performed by the Director of Compliance with the
support from Compliance division with its subsidiaries;
Compliance Supervisory Section, Compliance Evaluation
Section, Compliance System Section, GCG Development
Section, Monitoring and Supporting Section, and Anti
Money Laundering (APU) Work Unit and Terrorist
Funding Prevention (PPT).
Annual Report 2011 PT Bank Syariah Mandiri
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B. Compliance Index
No
Parameter
Period of Month
Average
Oct ‘11 Nov ‘11 Des ‘11 Qrt III’ Qrt IV’ 11 TargetGap Score Qualific
to target1 Corporate 1 Compliance Index (CCI)
4,96
4,96
4,98
4,86
4,97
4,94 + 0,03
T
2 Compliance RiskIndex (CRI)
4,80
4,70
4,80
4,67
4,77
5,00 - 0,23
T
3 Compliance Certificate (CC) 100% 100% 100%
100%
100% 98,00% + 2,00 ST
Compliance Self Assessment (CSA)
98,19% 96,69% 99,33%
97,33%
98,07% 94,00% + 4,07
T
4 Zero Defect (ZD)
95,53
96,29 95,92
95,73
95,91
93,00 + 2,91
T
5 Regulation Index (RI)
98,18 98,36 97,16
97,53
97,90 97,00 + 0,90
T
Period of Quarter
Trw III ’11 Trw IV ’11 Target Score Gap 6 Division Compliance Index (DCI)
98,69
99,07
97,00 + 2,07
T
7 Branch Compliance Index (BCI)
88,32
88,90 87,00 + 1,90 M
76,17
78,50 83,00 - 4,50 R
8PKP Performance
9 APU & PPT Index
83,59
83,81
89,00 - 5,19 M
10 Compliance Procedure Index
96,61
96,19
91,00 + 5,19
T
11 Code Of Conduct (CoC)
81,50
82,54 82,00 + 0,54
M
Period of Annual
2011
Target Score Gap 12 GCG Index92,94 89,00 + 3,94
R
Index Average
92,2392,97
92,41
+ 0,5 Tinggi
C. Compliance Supervision I
1. Investigation Team
PBI No.13/2/PBI/2011 dated 12 January 2011 on
Compliance Function Implementation for Commercial
Bank, forces Bank to mitigate bank business activities
risks that need both preventive (ex-ante) and
curative(ex-post) actions.
The role and function of compliance are to anticipate
early all potentials bank business risks, forward
loooking and more sensitive to the changes occure.
Bank needs to transform compliance role and function
as well as Compliance Work Unit (SKK) toward more
strategic
Besides, the amount of work units keeps on
increasing, so the possibility of cases ocurred directing
to fraud is increasing year by year.
Case complaint facility for employee through Internal
Whistle Blowing System (iBlow) in SIK, needs
special and orderly administration management and
confidentially secure.
a. Purpose
Focusing on segregation of supervision function
to branch/division with the concentration to
compliance prudentiality investigation function to
case/fraud occured at branch/division, thus each
function is hoped to work effectively.
b. Main Duty
1) Following up PKP incidental report concerning
with fraud
2) Assissting PKP to perform field investigation on
fraud case
3) Passing through incidental report based on
Compliance Director’s disposition to related
work unit to follow up the report appropriately.
Annual Report 2011 PT Bank Syariah Mandiri
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compliance
report
4) Monitoring follow-up action of fraud case until
the settlement of punishment to perpetrator
pursuant to Director’s decision.
5) Monitoring and analysing cases reported by
whistle blower through iblow in SIK.
6) Performing coordination with PKP to ensure the
truth of fraud report on iBlow.
7) Reporting fraud report from iBlow to Director of
Compliance
8) Mapping fraud cases to strengthen steps of
preventive actions of PKP ex-ante.
9) Informing steps of ex-ante to all work units to
prevent the same fraud recurred.
10)Administering employee track record by
performing coordination with related work
unit as preventive action to promote troubled
employee to take strategic position.
3.Maintaining
Maintaining in order that Director policy/decision
remains compliance through socialization, Education
and Training, Reading &Discussion (R&D), Compliance
on Site Supervision (COSS), Prevention & Correction
Action Record (CTKP), Internal Whistle Blower System
(iBlow).
In performing independent duty, PKP is strategic
partner of head of work unit and his subordinates. The
implementation of successful watch and monitoring
of Bank compliance is represented in Compliance
Index as a strategic effort to see “compliance rate”
of Bank work unit integratedly. The result of index
measurement is used by management and work unit to
improve and to enhance compliance.
Bank’s compliance rate illustration in 2011 is as
follows:
D. Compliance Supervision II
Compliance Supervisory Implementation is performed by
Compliance Supervisory Officer (PKP) at both Head Office
and Branch Office. Operational activities ascertainment of
Branch/Division work units related to financing and nonfinancing have complied with the regulations, the activities
are performed by:
1.Prevention
The prevention of uncompliance of Bank Managment
to regulation/unprudent, peformed by PKP through
Compliance Certificate (CC), Sisdur Decree Committee
(KKS), Compliance Note (CN), Compliance Opinion
(CO), Regulation Index (RI), DCD, and APU & PPT.
2. Monitoring
Work unit monitoring activities are performed by PKP
in order not to violence the regulation, by reviewing,
Follow up Monitoring Draft (DMTL), Report, Decision
Information System (SIK), BSM Project Care Plan 20102015, Project Care Banking System Transformation
(CBST).
210
Compliance rate average quarter IV period in 2011
was at the rate 92.79 with the qualifaication of
compliance rate ‘high’ increased 0.56 point compared
to the average of compliance index quarter III in 2011
at the rate 92.23.
E. Compliance System
Bank Compliance System is conducted through series
of process and steps to ensure Bank’s compliance to the
prevailing regulations, encompasses:
1. Compliance Procedure
Compliance Procedure is intended to build awareness of Bank’s personnels to work procedure and compliance procedure both at Head Office and Branch Office.
2. Compliance Review
3. Compliance Opinion and Compliance Note.
Compliance Opinion is a kind of delivering compliance
opinion to President Director on the policy issued,
especially strategic and operational policy. Besides,
Compliance Division can provide advice to Director
of Compliance or other Work Units concerning with
decision making.
Annual Report 2011 PT Bank Syariah Mandiri
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Compliance Information System (SIK)
has increased from the original function
sas work facility to Compliance
Knowledge Base.
4. External Regulation Analysis
External Regulation Analysis is a study on external
regulation submitted to Director of Comppliance
to view the impacts on the Bank. This study is an
implementation of Good Corporate Governance,
especially professional principles. The result of the
study is disseminated to work unit related to the
regulation analysed to be implemented appropriately,
including monitoring action on extenal provision
compliance by Bank.
5. Compliance Information System .
Compliance Information System (SIK) has increased
fron the original function as work facility to Compliance
Knowledge Base. SIK was developed based on the
SIK architecture (ASIK) that has 5 main pillars, those
are Corporate Prudentiality, Computerized Activities,
Self Compliance Identification, Sharia Compliance
and Compliance Management Information System.
Application developed using SIK are:
a. Assessment of Branch PKP performance using
Key Performance Indicator (KIP) adjusted
to the object assessed at Branch. Thus, PKP
performance can be measured in the period of
month, quarter, semester and annual.
b. Regulation folder that enables all Bank employees
to search external regulations with the latest
status (withdrawn, revised, or valid). This facility
is also equipped with per word search engine, so
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
employee can search provisions into the content of
regulations.
c. Discrepancy report Discrepancy report will help
employee via push email sent by SIK, if the are
abnormal balances at Branch Office ( including
auxiliary Branch Offices and Outlets)
d. The capability of SIK to sent push email has been
implemented to identify every external regulation
issued, especially related to regulations from Bank
Indonesia. If there is new regulation published
via website, SIK will soon send email to related
officials informing the most recent external
regulations..
e. SIK has developed report reminder to third parties,
so if there is due date report obligation to the third
parties , SIK will send push email to the officers
responsible for handling report.
f. SIK has performed paperless based report for
Compliance Procedure Report, Zero Defect
Report, Compliance Certificate Report and PKP
Branch Report.
6. Compliance Procedure
Compliance Procedure is implemented by BSM to ensure that work units have performed work provisions and procedures. Compliance procedure is work tool in the form of checksheet that can help Branch to monitor work procedures that have not been implemented.
BSM has implemented 16 compliance procedures
at Branch, they are: Head of Branch, Marketing
Manager, Operational Manager,, Account Officer, Legal
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compliance
report
goods and services, and investment. The review
on funding sector includes new funding, additional
funding, renewal funding, and restructuring funding.
The assessment is conducted to ensure that
management has made decision complying with the
internal (SE, SOP, and Bank’s Circular) and external
(Law, PBI, Fatwa of National Sharia Board/DSN, etc).
The high volume of objects assessed at all work units
is conducted in various mechanisms, such as:
a. Compliance certificate processed by Compliance
Work Units (SKK), and
b. Compliance Self Assessment/CSA processed by
business units.
The result of CSA is reviewed periodically by SKK
by sampling to ensure conformity and optimization
of assessment conducted by business unit.
Officer, Loan Administration & Trade Service Officer,
Pawn Officer, Customer Service Officer, Head Teller,
Marketing Support Executor, Customer Service, Teller,
Back Office, Head of Auxciliary Branch Office,
Operation Officer and Funding Officer. Besides, There
are 9 Compliance Procedures in Head Office Division,
they are; DKH, DHC, DST, DKN, DOP, DMR, DTR, DTI
and DSL.
F.Monitoring & Supporting
Monitoring and Supporting Bank Compliance
implementation during 2011 covers:
1. Preparing routine performance report on Compliance
Supervision for period of month to Director of
Compliance, period of quarter to President Director and
period of semester to Bank Indonesia.
2. Developing compliance prudentiality to ensure
development of DKN compliance to work unit that
has not performed prudentiality complying with the
prevailing regulations.
3. Monitoring indexes realization covering Corporate
Compliance Index (CCI), Compliance Risk Index
(CRI), Compliance Certificate (CC), Compliance Self
Assessment (CSA), Zero Defect (ZD), Regulation
Index (RI), Division Compliance Index (DCI), Branch
Compliance Index (BCI), PKP Performance and Know
Your Customer Index (KYC) Index and Good Corporate
Governance (GCG). In addition, to monitor work plan
realization of Compliance Division and the budget set in
RKAD.
4. Specific monitoring related to the implementation
of New Core Banking System (NCBS) and Project
Corplan, that become the target of Bank Market Share
in sharia banking industry with the target achievement
of asset at the rate 40%.
5. Implementation of support administrative, budget
monitoring, and DKN compliance report for internal and
external purposes.
G. Compliance Assessment
1. Performing compliance review on Bank management
decision to the decisions of funding, procurement of
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2. To optimize compliance process in decision making,
management arranges strategic steps to maintain the
compliance of management decision, as follows:
a. Improving prudential by issuing Certificate of
Compliance for financing with the limit equal
or above Rp 15 billion approved by Financing
Committee
b. Performing maximization movement of Compliance
Certificate Implementation (C-max), it is aimed
at enhancing target coverage of evaluation and
issuance of Compliance Certificate defined
by management. The implementation of the
movement is conducted through some pillars,
such as; Awareness, Coverage, Control, and
Councelling.
To Ascertain that Bank has implemented provision well
in the period of 2011 was reflected through the target
achievement of Compliance Certificate pursuant to the
Bank Business Plan (RBB) 2011.
3. To improve Reviewer’s competency and understanding
on internal and external provision, SKK has performed
competency certification for all reviewers both at Head
Office and Branch Offices organized internally by SKK.
This program is the step of program implementation
of Compliance License for Officer (CLO) that will
be applied to all level of Bank’s Officers aimed at
preparing Compliance agent at all bank’s work unit.
Annual Report 2011 PT Bank Syariah Mandiri
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APU and PPT implementation in BSM
has complied with UU No.8 Year 2010
on Prevention and Eradication of Money
Laundering Crimes (PPTPPU)
The initial steps of implementation of compliance
certification resulted 36 participants deserved to
receive Certificate of Competency.
4. Providing advice for the content of Bank Internal
Regulation Issuance in the form of policy draft, SE,
SOP has complied with laws and Bank Indoensia
prevailing regulations. Providing advice for the
provision conducted when .Sisdur Committee Decision
(KKS) is in the process. Observing various compliance
aspects and implementaion of prudent principles
contained in the policy draft, SE, SOP, including
feedback for revision.
H. Anti Money Laundering Work
Unit (APU) and Terorism
Funding Prevention (PPT)
(SKAP)
1. Implementation of Customer Due Dilligence (CDD)
efectivity and Enhanced Due Dilligence (EDD)
a. Implementation of CDD and EDD has been
performed complying with PBI No.11/11/28/
PBI/2009 dated 1 July 2009, Law of Indonesia
(UU) No.8 year 2010 on UU PP TPPU, Law of
Indonesia No. 3 year 2011 on Fund Transfer,
and BI Circular Letter No.11/31/DPNP dated 30
November 2009.
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b. Monitoring of CDD and EDD implpementation by
all work units conducted by scoring on checklist
of CDD and EDD implementation done by SKAP
officer of each work units, including the fulfillment
of single CIF, completeness and validity of
cutomer’s data and data cleansing.
c.. Implementing and monitoring customer updating
data program used for report to Bank Indoensia
each year with coordination from related work unit.
d. Risk Based Approach mapping for priority banking
customer data and High Risk Customer Profile
Region I up to V based on type of work.
e. Corresponding relationship with foreign bank has
been supported with the information exchange on
the implementation of APU and PPT at each Bank
through AML Questionnaire.
2. Implementaion of Anti Money Laundering (APU) and
Terrorism Funding Prevention (PPT) efectivity
a. Implementation of APU and PPT at BSM has
complied with Law of Indoensia No.8 Year 2010 on
Prevention and Eradication of Money Laundering
Crime (PPTPPU)
b. Ascertainment implementation of APU and PPT
to the lowest level of management performed
by SKAP officer at each division, Branch Office,
Auxiliary Branch Office and Outlets as the
extension of Head Office.
c. Compliance with report obligation to Centre for
Financial Transaction Report and Analysis (PPATK)
has complied with the regulation using Gathering
Reports and Information Procesing System
(GRIPS)
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d. Compliance with customer data request by
authorities has been complied with related
regulation on procedures of opening banking
Confidential data.
e. Improvement of high risk customer data monitoring
system and indication of suspicious transaction
through the development of APU and PPT
Information System Program (SIAP) that can be
used specifically by SKAP Officer to detect high
risk customer’s profile and transaction and to report
to Head Office SKAP. SIAP can also be used by
all Bank employees to get information about APU
and PPT such as customer blacklist, external and
internal provisions, modul for training/socialization,
case example, and other information.
f. PPATK has audited APU and PPT compliance
implementation to BSM and assessed that Bank
is good and cooperative to participate in enforcing
Anti Money Laundering regime in Indonesia.
f. Bank has perfomed net meeting forum for Regional
III, IV and V SKAP officer and Division/Desk SKAP
Officer attended by all SKAP Officer from each division/desk as a form of SKAP Officer strengthening
and implementation at each work units.
3. Efectivity of Know Your Employee (KYE)
Implementation.
a. Bank has conducted APU and PPT training program for all level of Bank’s Employee by organizing
both internal (inclass and e-leraning) and external
(by conducting BI, PPATK, FKDKP, etc. Program)
by performing inclass training, workshop, seminar
and training.
b. Bank has performed online test regularly (quaterly)
to all employee to ensure that employees comprehend APU and PPT well.
c. Bank has performed reward and punishment
program due to APU and PPT implementaion to all
branches through the assessment of SKAP officer
and the result of Head Office SKAP evaluation.
d. Bank has performed screening process in new
employee recruitment and track record analysis
toward employee promoted to ensure the the
employee has no relation to money laundering and
terrorism funding activities.
e. Bank has performed socialization forum for APU
and PPT implementation with regional office as the
the strengthening program for SKAP Officer at the
regional office.
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PPATK has performed audit on compliance
implementation APU and PPT to BSM
and assessed that Bank was good and
cooperative in participating to uphold
Anti Maoney Laundering Regime
inIndonesia.
Annual Report 2011 PT Bank Syariah Mandiri
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Annual Report 2011 PT Bank Syariah Mandiri
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procedure system
and information
technology report
BSM always develops procedure system
and technology capacity effectivity,
to support the achievement of company’s
goal.
763
Regulation that must be equipped with
Flowchart.
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217
prosedure and
information
technology system
report
4. Reviewing related Quality Management System and
up-dating whenever necessary.
In line with the results of Management Supervisory
Meeting in December 2011, the Bank focused on
ISO 9001:2008 certification management to Work
Unit managing system. It was carried to ensure that
the implementation of ISO 9001:2008 certification is
integrated directly to the corporate program.
A. System And Procedure
Implementing sharia banking business activities, BSM always
is committed to system and procedure implementation. BSM
develops the existing system and procedure effectiveness.
Activities related with system and procedure implementation
during 2011, among others are:
I. ISO Standard Compliance Consistency
The Bank has adopted ISO 9001:2008 in management of
financing and front-liner services. As the acknowledgement
of the fulfillment of ISO regulation, BSM received ISO
9001:2008 certificate for Loan and Service Management
issued by Llyod Register Quality Assurance (LRQA).
In 2011 LRQA conducted surveillance visit to ensure
the consistency in Quality Management System ISO
9001:2008. The surveillance visit was conducted by
selective sampling to Branch offices.
ISO 9001:2008 Certification Program. For Financing Management, Surveillance was conducted
at the Head Office, Warung Buncit Branch Office, Pondok
Indah Branch Ofice, Mayestik Branch Office and Branch
Commercial Financing Division. For Service Management,
surveillance was conducted at Saharjo Branch, Solo
Branch Office, Medan Branch Office and Priok Branch
Office.
In addition to the surveillance visit review by LRQA, the
Bank also took steps to maintain the certification:
1. Internal quality audits at 13 Sample Branch Offices
under ISO 9001:2008 Certification Program.
2. Monitoring and follow-up actions on findings from
internal quality audit and surveillance visit by LRQA.
3. Organizing Management Supervisory Meeting annually
to discuss quality system performance and determine
continual improvement
218
II. Preparing and Updating BSM Regulation
and SOP
Well Ordered and Structured regulations in banking
management are very important. This is not only related
to the implementation of prudential banking and GCG,
but it also gives clarity of responsibilities, duties and
legal protection for Officials. For this reason, the Board of
Directors issued regulation in Policy and Bank Procedure
through Circulars No. 13/014/ UMM dated 24 September
2011 on Policy Architecture and Bank Procedure.
In addition to the ascertainment on the implementation
of provision issuance mechanism, Architecture regulates
an important role of work unit managing system and
procedure in Policy Clearance for every provision issuance
process. Policy Clearance will determine feasibility of Bank
Operation Regulation draft to be ratified by the Board of
Directors.
The purposes of Policy Clearance are to ensure:
1. Conformity of provision layout
2. Existance/not existance of overlapping within other
regulation
3. Clarity of the regulation, new or supplementary to other
regulations;
4. Accomodating advice fom related work unit to the
regulation.
Annual Report 2011 PT Bank Syariah Mandiri
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Position of Policy Clearance in the process of Bank
Operational Regulation drafting:
1. Process of Policy Drafting
Draft Draft
Early Coordina-Penyususnan
Writting
tion
System &
Procedure
Unit
Determine
whether new
policies should
be formulated or
simply update an
existing policy
Owner
Product
Reviewing
Material
Draft
Finalization
Reviewing
Draft
Reveiwer
Approval
Ensure eligibility
for the Proposed
pengeshan
including
direviewnya all
have input in
the process of
reviewing the
material
Review Process
until final
Conducting draft
finalization
Writting Draft
Policy
Clearence
Reviewing Final
Draft
Review Process
until final
System &
Procedure
Committee
BoD and
BoC
Conducting
“KKS”
Approval
(Signature)
2. Process of Procedure Drafting
Draft Draft
Early Coordina-Penyususnan
Writting
tion
System &
Procedure
Unit
Determine
whether new
policies should
be formulated or
simply update an
existing policy
Owner
Product
Draft
Finalization
Reviewing
Draft
Conducting draft
finalization
Writting Draft
System &
Procedure
Committee
BoD and
BoC
Annual Report 2011 PT Bank Syariah Mandiri
Policy
Clearence
Approval
Ensure eligibility
for the Proposed
pengeshan
including
direviewnya all
have input in
the process of
reviewing the
material
Review Process
until final
Reveiwer
www.syariahmandiri.co.id
Reviewing
Material
Reviewing Final
Draft
Review Process
until final
Conducting
“KKS”
Approval
(Signature)
219
prosedure and
information
technology system
report
3. MPO Drafting Process
Draft
Reviewing
Writting Draft Penyususnan
Material
Draft
Finalization
System &
Procedure
Unit
Reviewer
Conducting Draft
finalization
Drafting
Reviewing
­process to Final
System &
Procedure
Committee
BoD and
BoC
Apart from maintaining Policy Clearance, the Sys-Proc section
at DSP serves also as Project Owner on the issuance of the
following regulations:
1. Standard Manual Operational - Financing Origination
System (SMO-FOS) Version 01 Consumer Financing.
2. Revision on Services Transaction Guidelines.
3. Revision on Priority Banking Management Provision.
4. Standard Manual Operational - Core Banking System
(SMO-CBS).
5. Renewal and Revision on Operation Guideline
Memorandum No. 13/005-3/MPO-DSP dated 15 March
2011 on Restructuring and Reviewing Financing Decree
(PKKP), due to the Issuance of Bank Indonesia Regulation
on Financing Restructuring for Sharia Commercial Banks
and Sharia Business.
220
Approval
Ensuring draft
eligibility to
be legalized
including
review to the
suggestions
and advice in
content review
process
Reviewing
Process to final
Owner
Product
Final
Reviewing
Approval
(Signature)
Project Completion on Bank
Operational Provision with Flowchart
Based on the recommendation of Board of Commissioners
and referred to the Internal Control System Policy that Bank
must complete all operational process with flowchart, the
DSP follows it up by organizing Project Completion on Bank
Operational Provision with flowcharts.
Project Completion on Bank Operational Provision with
Flowcharts was put into action on the second week of May
2011 by mapping all Bank Operational Provisions.
The mapping has found that 763 regulations in need of
completion/addition with flowcharts, among others:
1. 321 regulations on operational category;
2. 287 regulations on business category; and
3. 155 regulation on controlling category
Annual Report 2011 PT Bank Syariah Mandiri
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Completion Project of Bank Operational
Regulation with Flowchart is performed
by mapping all bank operational
regulationsBank.
To handle the project, DSP took some steps and determined
timeline as follows:
Activities
2011
2012
5 6
7 8 9 10 11 12 1 2 3
4
5
6
1. Recruitment Making FlowChart
2. Making FlowChart
Based POB/SE existing
3. Review of FlowChart validation by Project Ownwer & Review
4. Finalize and Merger Flowchart
into the SPO/SE
5. Socialization POB/SE is equipped
FlowChart
C. Performance and Financing
Supervision Report
I. Bank Monitoring on 200 Big Scale
Financing Customers
DSP actively supervised and maintained Bank quality
financing by arranging financing quality prognosis
till the position of end December 2011 together with
Head Office Work Unit related to 200 big costumers
(outstanding Rp 6,767,756 million: 19.67% from
financing portfolio)
Annual Report 2011 PT Bank Syariah Mandiri
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II. Billing Reminder
To anticipate customer to over due at end of month,
DSP reminds Business Unit in Managing Finance
by information/appeal to head of work unit/branch to
organize billing.
The activities of reminder here are:
1. Informing potential customer to be down grade
(from current to DPK and from current/DPK to
NPF), informed every month for the position of date
15 in the current month. The potential down grade
is directly reported to Business Unit in charge of
Managing Financing in Head Office, meanwhile to
Branches reported via each Regional Office.
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2. SMS billing, addressed to Head of Business Unit in
charge of Managing Financing starting from Day10, Day-7, Day-1 and Day-0.
3. To monitor end of month billing, addressed directly
to the Officials of Business Unit in charge of
Managing Financing listed on down grade potency
list. The purpose is to ensure that customer’s fund
for installment or other obligation is ready and soon
to be debited.
IV. Watch List Implementaion
Watch list Implementation has run well until
December 2011 but there is still improvement in the
implementation.
Some efforts performed by DSP to improve Watchlist
implementation are:
1. To remind business unit on Managing Finance by
letter or call.
2. To socialize watch list implementation to Branch
Officials and Account Officers through supervision
training in the context of Clinic for Troubled
Financing Handling.
3. To socialize the program to Account Officers
or PMS through Basic Financing Management
training.
4. To approach Head of DKI unit to synchronize the
perception of the importance of Watch List Analysis
for Customers.
III.NPF Control Forum
1. Implementation of NPF Control Forum
NPF control forum is conducted to discuss quality
development, and customer financing development
especially financing included into NPF category.
NPF Control Forum is performed at the minimum
of once a month, the range of time is among date
of 20 up to 27 in the current month due to the
readiness of data process from DMR. NPF Control
Forum Meeting is attended by Business Unit such
as DKI, DKC, DKR, DKMDPK, DPB, DRS, Support
Unit, such DMR, DKN, DSP and DAI and Regional
Office 2 Jakarta 1 and Regional Office 3 Jakarta 2.
2. Teleconference/Videoconference and Inviting Head
of Business Unit/Branch
Teleconference/video conference is carried out
by DSP together wit DRS and DPB, to ensure
customer’s condition and rescue effort conducted
by Branch/Business Unit.
Until December 2011, DSP has performed on site
Review to 11 works unit, among of which are: KP DKI,
Mangga Dua Branch, Tanjung Priok Branch, Pondok
Indah Branch, Cilegon Branch, Lampung Branch,
Palembang Branch, Meruya Branch, Aceh Branch,
Bogor Branch, and Bekasi Branch.
Review was conducted to ensure the implementation
of financing supervisory process at branch office.
NPF Control Forum for Head Office Business
Unit and Branches around Jabodetabek is held
by inviting them to the Head Office. While for
branches outside Jabodetabek NPF Control Forum
is held by teleconference/videoconference method
to discuss steps of handling troubled customers in
cooperation with DPK and NPF.
V. On Site Review Implementation
VI.Troubled Financing Clinic
Troubled Financing Clinic has been performed during
2011 (up to December 2011, conducted in 5 regional;
Makasar, Medan, Bandung, Semarang and Denpasar)
3. Result of Teleconference/Videoconference
In consultative Meeting or teleconference /
videoconference as mentioned above yields
strategic decisions realized in the form of Business
Unit or Branch ‘s “Commitment” to save/improve
troubled customers.
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Annual Report 2011 PT Bank Syariah Mandiri
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VII. Delegating of Troubled Financing
Handling ( NPF Category)
Complying with Circular No.12/020/PEM dated 20
September 2010 on Revision to Troubled Financing
Handling Provision, point III, D.3. that to accelerate
payment collection of troubled financing treatment of
Non Performing Financing (NPF) with the limit more
than Rp1 billion, business units are obliged to hand the
treatment to DRS or DPB work unit through DSP.
In 2011, as many as 105 customers were transferred
to DRS or DPB pursuant to respective category.
a. relaxation on provision of financing sectors,
such as:
l Circular (SE) on Linkage Financing
Program through BPR and BPRS
l Circular on Economy Sector Rating for
Financing
l Revision on Circular on KUR Program
l Circular on revitalization of Life Insurance
Coverage for BSM Griya and BSM PPA
l Circular on Standard Manual Operation –
Financing Original System ( SMO-FOS)
l Circular on Risk Acceptance Criteria for
BSM Financing.
b. To be active in Analysis Note Workshop hosted
by DMR to improve financing analysis note
format.
c. To be active as the speaker on Workshop
Refreshment Financing Process dated 17
December 2011 at Millenium Hotel Jakarta.
VIII. Branch Development Activity
Bank keeps on developing branches especially
financing sectors both by individual corresponding and
collectively. The developments are in the form of:
1. Branch Portfolio Analysis
DSP analyses portfolio of the Branches decreasing
in financing quality, Identifies the causes and
directs branches to concrete improvement.
2. .Follow up to Audit Result
DSP provides guidance based on the findings
of routine audit by KP DAI by sending letter to
branches on Follow up to Audit Result in the
current year..
3. Financing and Insurance Maturity
DSP sends Information about financing and
insurance maturity each month to all branch work
units via Regional Office.
IX.Miscellaneous
Besides the activities explained above, DSP also
performs other activities simultaneously such as:
1. Monitoring the result of mid year meeting 2011, in
cooperation with related work unit to perform crash
program, among others:
Annual Report 2011 PT Bank Syariah Mandiri
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Maintaining to keep implementing Project on
Completion of Bank Operational Regulation with
flowchart to all provisions issued by related divisions at
Head Office.
D. Information System and
Technology
BSM is committed to giving the best service for customer,
one of the efforts conducted is by improving technology
capacity. With the effort, the Bank can give faster service
and better information access.
I. Information Technology System Report
BSM work plan implemented in 2011 was directed
to support company’s work plan in implementing
“Corplan” program and “New Core Banking System
(NCBS)” Project and to complete system and
technology developed in 2010. Innovation adjusted
to the development of recent Information Technology
(IT) was to develop BSM competitiveness in banking
industry.
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technology system
report
II. Attempts toward “ BSM Better Way for
Better Indonesia”
In efforts to make “BSM Better Way for Better
Indonesia” realized, the Bank seeks to guarantee
transaction and data security through “go secured
system” for all customers by:
1.Developing sustainable e-banking features, such as:
a. EDC implementation (printed PIN, payment,
and transaction verification in all outlets)
b. Customer Transacion SMS Notofication
c. H2H with Bank Mandiri (Join Payment)
d. E-banking Payment Features with Garuda
Indonesia
e. Remittance (account to cash).
f. Developing electricity prepaid payment.
2. Re-engineering IT environment through:
a. Developing banking system with CBS
transformation as the series of development
process of new core banking system (iBSM:
integrated banking system modules)
b. Improving data communication network
function (infrastructure transformation) through
internet network availibility, bandwith manager
availibitiy and bandwith upgrade. These are
intended to:
1) Give optimal support to new CBS system;
2) Ensure data network availibility 24x7 to give
adequate operational service;
3) Implement Landesk, Fire-wall desktop
standardization comprehensively to support
IT Security.
4) Implement roll-out application and
communication network system.
III.Implementation of Bank Indonesia
Regulation
The use of Information technology (IT) will enhance
risk faced by banking including BSM. To minimize the
risk, BSM implements risk management effectively
and gradually complying with the regualtion of :
(1) Regulation of Bankk Indonesia (PBI) No. 9/15/
PBI/2007 on Implementation of Risk Management in
Information Technology Use by Commercial Bank, and
(2) BI Circular (SE BI) No.9/30/DPNP dated December
224
2007 on Implementation of Risk Management in
Information Technology Used by Commercial Bank.
In implementing risk management, BSM has taken
some steps, as follows:
1. Performing Active supervision by Board of
Commissioners and Board of Directors on the
implementation of IT project.
2. Completing and developing policy and
procedure on IT use from various aspects of risk
management, among others:
a. Circular (SE) on System Access Authority
Management.
b. Circular (SE) on Standardization for Hardware
Usage, Backup System and Data Restore in
BSM
c. SOP on Job Scheduling.
d. SOP on Customer Retention Core Banking
System.
e. SOP on Parallel Run Strategy.
f. SOP on Contingency Plan Implementation New
Core Banking System.
g. SOP on IT Helpdesk.
h. SOP on Completion of Data Cleansing CIF.
i. SOP on Data Center and Disaster Recovery
Center (DRC).
3. Completing process of identification, assessment,
and controlling on IT use risk.
4. Disaster Recovery Plan (DRP) test complying
with the regulation of Bank Indonesia that enforces
bank to test DRP at the minimum of once a year
involving end user.
5.. Performing internal control system on IT use.
IV.Strategy Year 2012
To enhance service quality and to support company’s
strategy through the program of Transformation
II (corporate plan and new core banking system
transformation), in 2012 BSM will perform among
others:
1. To support corporate plan 2012 implementation.
2. To Continue CBS transformation process
3. To build CBS middleware
4. To develop business intelligence system
5. To synchronize and to develop all e-channel
features
6. To build e-procurement application.
Annual Report 2011 PT Bank Syariah Mandiri
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Bank tries to secure transaction and data
security “go secured system”
7. To transform IT-Helpdesk Service
8. To continue step by step strengthening of ITsecurity implementation.
The implementation of CBS transformation in 2012
and corporate plan 2011-2015 is hoped that Bank
will be able to implement good “Non-stop banking
operation” for Customer.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
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Annual Report 2011 PT Bank Syariah Mandiri
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internal control
report
BSM implements a control system
that can guard and secure business
activities pursuant to the bank policy
and the prevailing regulations through
intensive audit.
104.08 hours
The average of training hours per auditor
in 2011.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
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internal
control
report
In protecting and ensuring Bank’s busniness activities and
complying with Bank Indonesia Regulation No. 1/6/PBI/1999
on Compliance Director and Implementation of Internal Audit
Function Performance Standard for Commercial Bank, from
the beginning of the operation BSM has established a division
to have function as Internal Audit Unit (SKAI) formerly named
Internal Supervisory Division (DPI). Since January 2009
Internal Supervisory Division (DPI) changed to Internal Audit
Division (DAI), the head of the division is directly responsible
to President Driector and has direct communication to Board
of Commissioners.
To actualize supervisory system that can ensure and secure
business activity due to the bank’s policy and prevailing
law, Bank through Internal Audit Division has performed
audit intensively. Audit is performed using risk based audit
methodology and Bank Internal Audit Standard Perfomance
(SFPAIB).
A. Internal Audit Charter
To support its duties, Internal Audit Division has Internal
Audit Charter as basic guideline that regulates the position,
authority and responsibility, and method in performing internal
audit duty to actualize effective internal control system in
BSM.
Internal Audit Charter is one of important pillars of Good
Corporate Governance policy and has been implemented
effectively especially due to accountability, independency
and fairness in financial report.
B.Purposes and Functions of
Internal Audit Division
Main Internal Purposes of the Internal Audit Division:
1. To support all level of managements in securing bank
operational activity involving public fund.
2. To ensure and ascertain fair and healthy growth of the
bank’s businesses.
228
Just as stipulated in the BSM Internal audit Charter dated
27 April 2005, Duties and Functions of DAI are:
1. 1.Protective: assuring of the Bank compliance to
the prevailing policy, provisions and regulations by
analyzing finance, accounting, operations and other
activities through on-site inspection and off–site
supervision.
2. Constructive: maintaining optimal efficiency in use of
resources at maximum effectiveness in outputs by
making use of constructive suggestions and objective
information to evaluate all levels of the management.
3. Consultative: providing useful recommendation to
all management levels for the enhancement of the
exisitng policies towards achieving the organization
goals by identifying any possible risks and fraud to
improve and enhance the use of resources and fund
efficiently.
C.Vision and Mission of Internal
Audit Division
a.Vision:
To be professional auditor that provides safety to the
stakeholders
b.Mission:
1) Encourage internal control system implementation
in all work units to support Good Corporate
Governance implementation.
2) Implement standardized audit activity system
with due reference to ISO 9001:2008 Quality
Management System.
3) Perform continuous improvement of
professionalism to detect fraud.
D.Duties and Responsibilities of
Internal Audit Division
Just as stipulated in the BSM Internal audit Charter dated
27 April 2005, Duties and Functions of DAI are:
Annual Report 2011 PT Bank Syariah Mandiri
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In implementing internal control function,
Internal Audit Work Unit is equipped with
Guideline/Internal Audit Charter and
supported by professional and reliable
Auditors.
a. Protective: assuring of BSM compliance to the
prevailing policies, provisions and regulations
b. Constructive: maintaining optimal efficiency in use of
resources and maximum effectiveness in outputs
c. Consultative: providing useful recommendation to all
managements for enhancement of the existing policies
towards achieving the organization goals.
In addition, DAI assumes the following professional
responsibilities:
a. Internal Auditors must be independent in conducting
audit and expressing opinion and statements pursuant
to the generally accepted practices of audit standards;
b. Internal Auditors must be highly committed to the
success and reputation of the Bank;
c. Internal Auditors must be responsible on implementing
the principles of accuracy with reference to the auditor
code of ethics and the Bank corporate culture of
“ETHIC;
d. Internal Auditors are not related to the operation
activities of the work unit being audited;
e. Internal Auditors do not conduct an audit on the work
unit whose officials are in family relationship with the
Internal Auditors up to the second degree and no
relationship with the previous internal auditors;
f. Internal Auditors consistently improve their technical
quality through sustainable learning at the minimum of
180 (one hundred and eighty) hours in every 3 (three)
years;
g. The Internal Audit Division is periodically, at least one
in every 3 (three) years reviewed by an external party
to ensure that the Internal Audit Division functions are
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
in conformity with the Internal Audit Duty Performance
Standard for Commercial banks.
h. Internal Auditors consistently and continuously
develop relationship with the auditee, to build effective
communication and to follow up all audit findings to
help the auditee understand well about the risks and
fraud mitigation.
i. Internal Auditors must submit the report on the audit
results that have been followed up by the auditee, and
coordinate with other divisions as a contribution to
performance improvement and BSM operation work
systems.
j. Internal Auditors must monitor every follow-up action
that the work units and management have performed.
E. Organizational Structure of
Internal Audit Division 2011
Internal Audit Division is headed by a head of division. In
2011, Head of Internal Audit Division is served b Priyono
based on Board of Directors Decision PT Bank Syariah
Mandiri No. 11/002-KEP/DIR dated 7 January 2009. In
performing his duties, Head of Internal Audit Division is
assisted by Vice to Head of Division, Head of Monnitoring
& Audit Development Unit, Head of Special Audit Unit,
Head of Audit Unit , Audit/Development & MR, Quality
Assurance (AMI), Special Audit Team Leader, General
Audit Team Leader, Monitoring Auditor Team Leader,
External Audit Liaison Team Leader, Head of MIS and
Audit Support Section and Administration & Secretary
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Organizational Structure of Internal Audit Work Unit
Head of Internal Audit Division
Vice to Head of Internal Audit Division
Head of Monitoring &
Audit Development Unit
Head of Monitoring & Audit
Development Unit
Head of Audit Unit I
Team Leader
Special Audit
Audit Development & MR
Quality Assurance (AMI)
Head of Audit Unit II
Team Leader
General Auditor I
Team Leader
General Auditor II
Team Leader
Monitoring Auditor I
Team Leader
External Liaison Officer
Head of Audit Unit III
Team Leader
General Auditor II
Head of MIS & Audit
Support Section
Administration & Secretary
Staffs.
Internal Audit Unit was 78 employees.
Composition of Internal Audit Unit Employee
Until the end of 2011, the amount of human capital in
Composition of Internal Audit Unit Employee
Positon Number of Employee
Head of Division
Vice to Head of Division Head of General Audit Unit
1
1
2
General Audit Team Leader 10
General Auditor 27
Head of Special Audit Unit 1
Special Audit Team Leader 3
Special Auditor 3
Head of IT Audit Unit 1
IT Audit Team Leader 3
IT Auditor
4
Head of Monitoring & Audit Development (MAD) Unit
1
TAudit Monitoring Audit Team Leader 1
Monitoring Auditor5
Audit Development Officer3
AMI/Quality Assurance1
Team Leader External Audit Liaison1
External Audit Liaison Officer2
Kasie MIS & Audit Support1
Pelaksana Administrasi & Sekretaris
2
Team
RBA4
Leave Status out of Responsibility 1
Total78
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F.Internal Audit Division
Activities
Internal Audit Division activities are as folows:
a. Conducting general audit and information technology
audit ( regular and non-regular) at Branch and Head
Office work units pursuant to the targets as defined in
the annual audit plan. DAI will assign a special audit
in case of a problem that potentially hampers BSM
operation activities, violate the Corporate Code of
ETHIC and the GCG principles bank-wide.
b. Implementing mechanism of evaluation and
measurement on internal control (Intern Control Score/
ICS), referring to the measurement of impact and
likelihood. Internal Control Score is a component within
the Key Performance Indicator (KPI) of the work units.
It shows the strong commitment to improvement in
effectiveness of sustainable Internal Control System.
c. Completing effective audit work management by
applying audit management system (AMS).
d. Implementing guidelines for Risk Based Audit.
e. Monitoring all work units for accomplishment / finding
follow-ups / internal or external audit findings.
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f. Being an active counterpart for external auditors i.e
Bank Indoensia, PT Bank Mandiri (Persero) Tbk,
Indonesian Supreme Audit Board (BPK), and Public
Accountant Office (KAP)
g. Socialization and training on internal control efectivity
at exit meeting audit or in-house trainings, for both
executives and officers.
G. Certification of Profession and
Auditor Resource Development
Auditor Profession Certification
To support work professionalism and to fulfill Internal Audit
Unit human resource qualification, Bank always encourage
Auditor resource to get certificate of profession as internal
auditor. In 2011, Auditor resources that have got certificate
of profession for internal audit were 3 (three) people for
Qualified Internal Auditor (QIA) certification and 9 (nine)
people for State Accountant (AK) certification.
Auditor Resource Development
In assurance of Human Resource Development continuity,
both competence and soft-skills, the Internal Audit Charter
determines the standards for auditors to have at least
180 hours per 3 years (60 hours per year) of training.
Throughout 2011, the average training hour per auditor
was 104.08 hours or 173.47% of the targeted 60 hours per
year.
Training performed by Internal Audit Wok Unit during 2011
covered:
Internal Audit Unit Training 2011
No. 1
2
3
4
5
6
7
8
9
10 11 12 13 14 15 16 17 18 19 20 21 22 23
24 25 26 27 28 Name Training Purpose Number of Participant Explanation
BSM Overview BSMR Tutorial Level 2 Sharia Banking Ausit Course BSMR Tutorial Level 1- 2 BSMR Tutorial Level 1 MMDP 2011 Modul Leaership Batch V Workshop Knowledge Management BSM Overview
BSMR Tutorial Level IV IAIB One Day on fundamental of RBA BSM Overview Risk Based Audit, IT Audit & Audit Quality Assurance Financial Statement Analysis Leadership Forum BSMR Tutorial Level 1-2 BSMR Tutorial Level 3 Workshop on Sea Transportation Industry Leadership forum: 2 Days Strategy Dynamics BSMR Tutorial Level 3 BSM Overview
BSMR Tutorial Level 1-2 Case writing skill training Sharia Banking Basic Training Receiving Risk Management Certificate Sharia Banking Basic Training Receiving Risk Management Certificate Receiving Risk Management Certificate Training for Promotion to Middle Management Training Kepemimpinan Leadership Training Sharia Banking Basic Training Receiving Risk Management Certificate Learning Risk Based Audit Sharia Banking Basic Training Learning Risk Based Audit Learning Financial Report Analysis Training Leadership Receiving Risk Management Certificate Receiving Risk Management Certificate Learning Sea Transportation Industry Workshop Leadership Training Receiving Risk Management Certificate Sharia Banking Basic Training Receiving Risk Management Certificate Learning Good Writing Technique 6 participants 30 participants 36 participants 4 participants 5 participants 2 participants 1 participant 2 participants 1 participant 1 participant 2 participants 18 participants 2 participants 2 Participants 20 participants 3 participants 1 participant 2 participants 1 participant 1 paticipant 13 participants 2 participants Workshop for Auditors “IT audit: Risk Mapping & Audit Planning
IAIB Yogyakarta Workshop on Health Service Industry Workshop for IT Auditors BSMR Tutorial Level 1 MMDP 2011 Modul Leaership Learning Risk Mapping & Audit Planning 2012 2 participants 27-28 Oct 2011
Attending Seminar on Bank Intern Auditor Learning Health Service Industry Learning audit technique for IT Receiving Risk Management Certificate Training for Promotion to Middle Management 2 participants 1 participant 2 participants 4 participants 1 participant 24-25 Nov 2011
17 -18 Nov 2011
8 Des 11
15-16 Des 11
12-24 Dec 2011
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
17-21 Jan 11
20-21 Jan 11
2-27 Feb 11
24-25 Feb 11
24-Mar-11
4-8 April 11
27 Apr and 3 May 2011
18-22 April 2011
19-21 Apr 2011
26-Apr-11
9-13 May 2011
18-19 May 2011
11-13 Jul 11
21-Jul-11
28-29 July 2011
22-23 July 2011
08 - 10 Agust 2011
5-Aug-11
26-27 Sept 11
12 - 16 Sept 11
5-6 Oct 2011
17-18 Oct and 26 Oct 2011
231
internal
control
report
H. Internal Control System
To support safe and health Bank’s operational
management, BSM has applied an internal control system
written in Internal Control System Standar Guideline
authenticated by Directors in circular letter No. 6/018/
OPS dated 6 May 2004. The provisions refer to Bank
Indonesia Circular No.5/22/DPNP dated 29 September
2003 on Internal Control System Standar Guideline for
Conmmercial Bank.
The implementation of Internal Control System is
supported by management with the structure of
supervisory and management as follows:
a. Board of Commissioners performes supervisory function
from Board of Commissioners and Board of Directors
meeting, regular meeting such as management
performance evaluation, monthly or incidental meetings
on bank most recent condition. Besides, Board of
Commissioners is assissted by 3 (three) committee;
Audit Committee, Risk Supervisory Committee and
Remuneration and Nomination Committee.
b. Board of Directors implements policy and strategy
in accordance with Bank Business Plan approved
by Board of Commissioners and reports Bank’s
performance regularly to Board of Directors. Board of
Directors supports effective and independent audit
conducted by Internal Audit Unit.
c. The culture of controlling, Board of Commissioners,
Board of Directors and all staffs have commitment to
actualize a company culture that has been approved
and to monitor the implementation continuously,
covering excellence, Teamwork, Humanity, Integrity,
and customer Focus (ETHICS).
e. Controlling and Functioning, an effective control
system requires control activity covering early
control policy and procedure to ensure that the
policyandprocedure implemented consistently and
become a part of bank’ sactivity.
BSM has implemented control and compliance
function by establishing Compliance Director assisted
by Compliance Division (DKN) and Compliance
Supervisor & Customer Acquaintance Principle (PKP)
in Head Office and Branch work units. Infrastructure
and regulation on compliance control will be reported
in another segment of this year report.
f. Accounting, Information and Communication System:
BSM has sufficient accounting and information
system that is continuously developed due to the
implementation of new Core Banking System to face
escalating bank business complexity.
BSM’s financial repots are evaluated by Public
Accountant Office registered at Bank Indonesia and
approved by the Shareholders General Meeting.
The implementation of Bank risk management
and information technology system is intended to
support customer access and ‘one-stop shopping’
service complying with PBI No.9/15/PBI/2007 on The
Implementation of Risk Management in Information
Technology Use for Commercial Banks.
Based on the explanation above and referring to the
assessment of Internal Control Score (ICS) concluded
that BSM Internal Control System has run effectively.
d. Risk Identification and Evaluation, BSM continuously
develop the application of Enterprise Risk
Management (ERM) to ensure sustainable growth
and to comply with the provision of Bank Indonesia.
Risk Management Work Unit is equipped with
policy, procedure on risk limit, identification process,
measurement, controlling, risk management, and
integrated risk management information system.
232
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Bank organized Internal Control System
Adequacy control and evaluation
secara terus-menerus dengan membentuk
Satuan Kerja Audit Intern (dengan nama
Unit Kerja Audit Internal/Unit Kerja Audit
Intern) yang independen terhadap satuan
kerja operasional.
I. Monitoring Activity and
Corrective Action on Fraud
BSM has monitored and evaluated Internal Control System
adequacy continuously by establishing independent Internal
Audit Work Unit (Internal Audit Division/DAI)
DAI has commitment to ensuring adequate Internal Control
System efectivity by reviewing and providing recommendation
to the management on:
a. Operational Effectivity and Efficiency ;
b. Accountability;
c. Financial report fairness;
d. Compliance with Law and prevailing regulations;
e. Good Corporate Governance Principle.
DAI submits the result of audit to the Board of Commissioners,
President Director and Compliance Director. In performing the
duties, DAI has Internal Audit Charter as authenticated by the
Board of Commissioners and Board of Directors on 27 April
2005 and Internal Auditor Code of Conduct as authenticated
by the Board of Directors on 6 Ferbruary 2008.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
DAI must report the matters due to the internal audit and
finding on internal fraud.
a. Planning on appointing person-in-charge for handling
anti fraud strategy i.e. Head of Internal Audit Division.
b. Arranging and adapting regulation to support anti fraud
strategy implementation.
c. Enhancing audit results by applying Risk-Based Audit
methodology.
d. Enhancing persuasive action and/or litigation against
fraud
e. Improving the monitoring on case handling
accomplishment orderly and sustainably. Reporting
the implementation of anti fraud strategy to Bank
Indonesia every semester in June and December.
f. Socializing anti fraud strategy to all bank resources
to improve understanding appropriately and
comprehensively, conducted in every occasion
(monitoring, exit meeting monitoring, workshop, etc).
233
internal
control
report
J.Number of Internal Fraud
Internal fraud is a fraud that may be committed by the
management, employees, and out-sourced individuals
at any point during work process and operation activities
that significantly affect BSM’s financial condition. The term
‘significant’ is applicable when a fraud inflicts a loss of is
more than Rp100,000,000. (one hundred million rupiah).
BSM has commitment to settlement and fair processing of
internal fraud in compliance with the prevailing regulation
and GCG principles.
K.Brief History of Head of Internal
Audit Division
Priyono
Amount of internal fraud
Case
Total case by
BoD and BoC
Total fraud
Settled
Internal settlement process
by bank
Settlement Pending
in litigation process
2010
Employee
2011
20102011
0
0
0
0
0
0
32
10
2
2
0
0
0
0
0
0
0
0
To improve prevention against internal fraud, BSM takes
the following steps:
1. Applying non-compliance punishment as regulated in
the Work Unit Compliance Development Letter (SPKU)
on potential fraud cases;
2. Adding fraud prevention material to employee training
i.e. Basic Training or Branch Operation.
3. Monitoring on ORMIS and optimizing PKP input
on branch violation findings into Prevention and
Corrective Action Note (CKTP) and SIK;
4. Adding special Circulars to Fraud Post Office Box;
5. Initial socialization on the use of Fraud Box at SIK prior
to Implementation of Circulars;
6. Database management on BSM’s officials /employee
track records on compliance violation or fraud.
234
Indonesia Citizen. Born in Surabaya, on 17 July 1957.
Graduate of Faculty of Economy, Majoring Accounting;
Airlangga University, Surabaya in 1984. Accomplishing
Magister Program (S-2), Sekolah Tinggi Manajemen
“Labora”.
Training attended:
l AMS Workshop, 20 September 2010
l IAIB Conference, 2 Agustus 2010
l Workshop on Risk Model Validation For Banking, 16
June 2010
l APU/PPT FKDKP Training, 8 June 2010
l Forum of Head of SKAI , 13 January 2011
l USMR up to level 4
l Seminar on Audit Management, Banking Audit
Management Application, Teguh Pujo Mulyono, Partner
KAP Hadori Yunus & Cp , Sri Varita Hotel, December
2005,
l Seminar on Financing Restructuring in Sharia Bank,
Sharia Consultant, Adiwarman Karim, Sri Varita
Hotel,December 2005.
l Seminar on Risk Based Audit, Implementation and
Supervision, Auditor Club Perbanas, Sahid Hotel, June
2003.
Career track :
l BSM Instructure
l Head of Internal Audit Division (DAI) - BSM
l Head of Logistic Facility (DSL) - BSM
l Head of Internal Supervisory Division - BSM
l Head of Semarang Branch - BSM
l Team Leader for Re-operating Banda Aceh Branch
and Temporary Head of Banda Aceh Branch - BSM
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BSM commits to settle internal fraud
problem complying with the prevailing
frame work and will be process fairly and
prioritizing GCG principles.
Head of Internal Supervisory Division – BSM
Head of Human Resource Division – BSM
l Head of Sharia Bank Audit Development Division,
Internal Bank Auditor Association (IAIB)
l
l
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
235
236
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
office
networks
Bank committed to provide ease of
service to customers through network
expansion both branch network and ATM
network.
669
BSM Branch Offices spread across
Indonesia.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
237
office
networks
office
networks
REGION I
MEDAN
BSM Building Fl. 4
St. A.Yani No. 100, Medan, North Sumatera
Telp. (061) 4534466 Fax. (061) 4534456
ACEH
KC ACEH
St. Diponegoro No. 6, Banda Aceh, Aceh.
Telp. (0651) 22010 Fax. (0651) 33945
KCP MEULABOH
St. Nasional No. 107, Gampong Ujong Baroh,
Kec. Johan Pahlawan, Kab. Aceh Barat, Aceh.
Telp. (0655) 7551109, 7551558
Fax. (0655) 7551184
KC: Branch Office
KCP: Sub Branch Office
UPS: Shariah Service Unit
KK: Cash Office
KLS: Shariah Service Counter
PP: Payment Point
KCP SIGLI
St. Prof. A. Majid Ibrahim block C No. 5-6, Kp. Asan,
Kec. Kota Sigli, Kab. Pidie, Aceh.
Telp. (0653) 7829601, 7829602
Fax. (0653) 7829603
KCP ACEH DARUSSALAM
St. T. Nyak Arief No. 376, Kopelma Darussalam, Syiah
Kuala, Banda Aceh, Aceh.
Telp. (0651) 7551743, 7551744
Fax. (0651) 7551745
KCP JANTHO
St. Jend. Sudirman, Jantho, Aceh Besar, Aceh.
Telp. (0651) 92684, 92689 Fax. (0651) 92683
KCP CALANG
St. Calang Meulaboh (St. Teuku Umar) No.5,
Desa Dayah Kec. Krueng Sabe, Kab. Aceh Barat, Aceh.
Baro,
Telp. (0654) 2210114, 2210115
Fax. (0654) 2210117
KCP MEUREUDU
St. Iskandar Muda No. 32-33, Desa Kota Meureudu,
Kec. Meureudu, Kab. Pidie Jaya, Aceh.
Telp. (0653) 51393, 51394 Fax. (0653) 51199
KCP LAMBARO
St. Banda Aceh-Medan KM 8,5, Desa Lambaro,
Kec. Ingin Jaya, Kab. Aceh Besar, Aceh.
Telp. (0651) 8070130, 8070131
Fax. (0651) 8070133
PP ACEH UNMUHA
Gedung Univ. Muhammadiyah Aceh,
St. Muhammadiyah No. 91, Banda Aceh, Aceh.
Telp. (0651) 28303
(0651) 28303
KC SIMEULUE
Pertokoan Suak Tungkul Kavling 1 No. 5/6,
St. Tgk. Diujung Sinabang, Simeulue, Aceh.
Telp. (0650) 21557
Fax. (0650) 21570
KCP BLANGPIDIE
St. Kesehatan No. 84-86, Gampong Kuta Tuha,
Blangpidie, Aceh.
Telp. (0659) 93387 Fax. (0659) 93386
KCP SUBULUSSALAM
St. Teuku Umar No. 10-11, Subulussalam, Aceh.
238
Telp. (0627) 31500 Fax. (0627) 31502
KCP RIMO
St. T. R. Angkasah No. 77 A/B, Lae Butar-Rimo, Kab.
Aceh Singkil, Aceh.
Telp. (0658) 21588, 21556, 21557
Fax. (0658) 21580
KK TAPAK TUAN
St. Merdeka No. 92 B Gampong Pasar,
Kec. Tapak Tuan, Kab. Aceh Selatan, Aceh.
Telp. (0656) 323700, 323702 Fax. (0656) 323701
KC LANGSA
St. Ahmad Yani No. 20-22, Kel. Gampong Jawa, Kec.
Langsa Kota, Langsa, Aceh.
Telp. (0641) 426135, 21357, 426451
Fax. (0641) 426051
KCP BIREUEUN
St. Iskandar Muda No.8, Bireueun, Aceh.
Telp. (0644) 323002 Fax. (0644) 323004
KCP PASAR LANGSA
St. Teuku Umar No. 61, Kota Langsa, Aceh.
Telp. (0641) 22035, 23804 Fax. (0641) 23913
KCP KUALA SIMPANG
St. Cut Nyak Dien No.3-4, Kampung Kota Lintang,
Kec. Kota Kuala Simpang, Kab. Aceh Tamiang.
Telp. (0641) 31322, 31959 Fax. (0641) 31433
PP LANGSA MADRASAH ULUMUL QURAN
Madrasah Ulumul Quran St. Banda Aceh-Medan
Km. 447, Kota Langsa, NAD.
Telp. (0641) 7014766
KC LHOKSEUMAWE
St. Merdeka No. 24-25, Desa Simpang Empat,
Kec. Banda Sakti, Kotif Lhokseumawe, Aceh.
Telp. 0645) 631146, 631147, 631148
Fax. (0645) 41555
West Sumatera
KC PADANG
St. Imam Bonjol No. 17, Padang, West Sumatera.
Telp. (0751) 21113, 20765 Fax. (0751) 24768
KCP SOLOK
St. Prof. M. Yamin, SH. No. 375, Pandan,
Solok, West Sumatera.
Telp. (0755) 22594 Fax. (0755) 22960
KCP PADANG ULAK KARANG
St. S.Parman No. 145 A, Kel. Ulak Karang Selatan,
Kec. Padang Utara, Kota Padang, West Sumatera.
Telp. (0751) 444908 Fax. (0751) 444218
KCP PADANG BANDAR BUAT
St. Rimbo Datar No. 16D RT 02 RW 02,
Kel. Bandar Buat, Kec. Lubuk Kilangan,
Kota Padang, West Sumatera.
Telp. (0751) 93950, 93951 Fax. (0751) 72500
KCP PADANG PARIAMAN
St. Sudirman No. 38, Pariaman, West Sumatera.
Telp. (0751) 93950, 93951 Fax. (0751) 93952
KCP PULAU PUNJUNG
St. Lintas Sumatra Km. 2, Nagari IV Koyo,
Kec. Pulau Punjung, Kab. Dharmasraya,
West Sumatera.
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Telp. (0754) 40770, 40771 Fax. (0754) 40772
PP PADANG UNIV. ANDALAS
Gedung Pusat Kegiatan Mahasiswa Universitas
Andalas, St. Limau Manis, Padang, West Sumatera.
Telp. (0751) 778600 Fax. (0751) 778601
Fax. (061) 7873555, 7868555, 7866611
KCP MEDAN KRAKATAU
St. Krakatau No. 136 Pulau Brayan, Medan, North
Sumatera.
Telp. (061) 6691005 Fax. (061) 6616121
Telp. (0624) 22573 Fax. (0624) 22723
KC PADANG SIDEMPUAN
St. Merdeka No. 81-81A, Padangsidempuan, Tapanuli
Selatan, North Sumatera.
Telp. (0634) 28200 Fax. (0634) 28103
KC BUKITTINGGI
St. Jenderal Sudirman No. 73, Bukit Tinggi,
West Sumatera.
Telp. (0752) 627633, 627635
Fax. (0752) 627637
KCP MEDAN BELAWAN
St. Sumatera No. 33, Kec. Medan Belawan, Kota
Medan, North Sumatera.
Telp. (061) 6945820 Fax. (061) 6941744
KCP PANYABUNGAN
St. Willem Iskandar No. 115 B Panyabungan, Madina,
North Sumatera.
Telp. (0636) 20232, 321500
Fax. (0636) 321617, 321616
KCP PADANG PANJANG
St. Soekarno-Hatta No. 3 Padang Panjang, West
Sumatera.
Telp. (0752) 84591, 82992 Fax. (0752) 82993
KCP PASAMAN BARAT
St. Sudirman, Simpang Empat, Kab. Pasaman Barat,
West Sumatera.
Telp. (0753) 466778, 466779,
Fax. (0753) 466777, 466780
KCP LUBUK BASUNG
St. Gajah Mada, Cubadak, Kel. Balai Ahad, Kec. Lubuk
Basung, Kab. Agam, West Sumatera.
Telp. (0752) 66466 Fax. (0752) 66464
KK BATU SANGKAR
St. Soekarno-Hatta No. 13, Pasar Batusangkar,
Batusangkar, Tanah Datar, West Sumatera.
Telp. (0752) 72500 Fax. (0752) 72501
KC PAYAKUMBUH
St. Ade Irma Suryani No. 3 D-E, Payakumbuh, West
Sumatera.
Telp. (0752) 796640, 796641
Fax. (0752) 93167
North Sumatera
KC MEDAN
St. Jenderal Achmad Yani No. 100, Medan, North
Sumatera.
Telp. (061) 4151466, 4153866
Fax. (061) 4511867
KCP TEBING TINGGI
St. A Yani No. 141, Kota Tebing Tinggi,
North Sumatera.
Telp. (0621) 328125, 328126
Fax. (0621) 328127
KCP MEDAN AKSARA
St. Letda Sujono No. 110, Medan, North Sumatera.
Telp. (061) 7325939, 7325957
Fax. (061) 7332936
KCP MEDAN SETIA BUDI
Kompl. Perumahan Nice Commercial Block B No. 4 St.
Setia Budi, Medan, North Sumatera.
Telp. (061) 8220384
Fax. (061) 8221267
KCP MEDAN PETISAH
St. Rotan No. 6-7, Medan, North Sumatera.
Telp. (061) 4521002 Fax. (061) 4145787
KCP MEDAN SIMPANG LIMUN
St. Sisingamangaraja No. 51-B, Medan,
North Sumatera.
Telp. (061) 7866464, 7864455,
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
KCP MEDAN TOMANG ELOK
St. Gatot Subroto Komplek Tomang Elok Block A No.
81, Medan, North Sumatera.
Telp. (061) 8472668 Fax. (061) 8440518
KCP MEDAN ISKANDAR MUDA
St. Iskandar Muda No. 58, Medan, North Sumatera.
Telp. (061) 4151156 Fax. (061) 4521396
KCP MEDAN PULO BRAYAN
St. Yos Sudarso Komplek Mega Glugur Mas No. 3-4,
Medan, North Sumatera.
Telp. (061) 6632917 Fax. (061) 6644784
KK MEDAN POLONIA
Bandara Udara Internasional Terminal Kedatangan
St. Imam Bonjol, Medan, North Sumatera.
Telp. (061) 4567127 Fax. (061) 4567127
KLS MEDAN PULO BRAYAN
Kantor Cabang Bank Mandiri St. Yos Sudarso
Block A No. 1A, Pulo Brayan Medan,
North Sumatera.
Telp. (061) 6632944 Fax. (061) 6632861
KLS TEBING TINGGI
Kantor Cabang Bank Mandiri St. Dr. Sutomo No. 17,
Tebing Tinggi, North Sumatera.
Telp. (0621) 24440 Fax. (0621) 24440
PP MEDAN UMSU
Kampus III UMSU St. Kapten Mukhtar Basri No. 3,
Medan, North Sumatera.
Telp. (061) 6623323
PP MEDAN UISU
Kampus Universitas Islam North Sumatera St. Sisingamaraja-Teladan, Medan, North Sumatera.
Telp. (061) 7883683 Fax. (061) 7883683
KC MEDAN KAMPUNG BARU
St. Brigjen Katamso No. 717 B, Medan,
North Sumatera.
Telp. (061) 7869518
Fax. (061) 7869739
KC RANTAU PRAPAT
St. Imam Bonjol No. 22, Rantau Prapat,
North Sumatera.
Telp. (0624) 24880, 24205, 25278
Fax. (0624) 25278
KCP KOTA PINANG
St. Jenderal Sudirman No. 26 B, Kota Pinang, Labuhan
Batu, North Sumatera.
Telp. (0624) 496922, 496918
Fax. (0624) 496919
KLS RANTAU PRAPAT AHMAD YANI Kantor Cabang
Bank Mandiri Hub Rantau Prapat
A. Yani, St. Jend. Ahmad Yani No.2 Rantau Prapat,
North Sumatera.
KCP SIBUHUAN
St. Ki Hajar Dewantara, Lingkungan VI, Sibuhuan,
Padang Lawas, North Sumatera.
Telp. (0636) 421335, 421336,
Fax. (0636) 421786, 421337
KCP GUNUNG TUA
St. Sisingamangaraja No. 234, Kel. Pasar Baru Gunung Tua, Kec. Padang Bolak, Kab. Padang Lawas
Utara, North Sumatera.
Telp. (0635) 510919 Fax. (0635) 515920
KCP SIPIROK
St. Merdeka No.95, Kel. Sipirok Godang,
Kec. Sipirok, Kab. Tapanuli Selatan,
North Sumatera.
Telp. (0634) 41520 Fax. (0634) 41560
KLS PADANG SIDEMPUAN SUDIRMAN
Kantor Cabang Bank Mandiri Hub Padang
Sidempuan, St. Sudirman No. 30-32 Padang
Sidempuan, North Sumatera.
Telp. (0634) 28300 Fax. (0634) 24300
KC BINJAI
St. Sukarno Hatta No. 22-23, Kel. Tanah Tinggi, Kec.
Binjai Timur, Kota Binjai, North Sumatera.
Telp. (061) 8826396 Fax. (061) 8826138
KCP STABAT
St. KH. Zainul Arifin No. 17-A, Stabat, Kab. Langkat,
North Sumatera.
Telp. (061) 8912631, 8912632
Fax. (061) 8912630
KCP PANGKALAN BRANDAN
St. Thamrin No. 57, Pangkalan Brandan,
Kab. Langkat, Sumatra Utara.
Telp. (0620) 322222 Fax. (0620) 322767
KLS STABAT PANGKALAN BRANDANKantor Cabang
Bank Mandiri Hub Pangkalan Brandan, Komplek
Pertamina Sumbagut Pangkalan Brandan, St.
Wahidin No. 1, Pangkalan Brandan, North Sumatera.
Telp. (0620) 21925 Fax. (0620) 21844
PP STABAT PANCA BUDI
Perguruan Panca Budi , d.a. Toserba PADI, Gedung
G, St. Gatot Subroto Km. 4,5 Sei Sikambing, Medan,
North Sumatera.
KC PEMATANG SIANTAR
St. Kapt. M. H. Sitorus No. 15-A, Pematangsiantar,
North Sumatera.
Telp. (0622) 435858, 435857,
Fax. (0622) 435848, 435861
KCP PERDAGANGAN
St. Sisingamaraja, Perdagangan
Kab. Simalungun, North Sumatera.
Telp. (0622) 697777 Fax. (0622) 697177
239
office
networks
KCP KISARAN
St. Imam Bonjol No. 195 Kisaran, Medan,
North Sumatera.
Telp. (0623) 348500, 348501 Fax. (0623) 348502
KCP TANJUNG BALAI
St. HOS Cokroaminoto No.35 DE, Tanjung Balai, North
Sumatera.
Telp. (0623) 597373 Fax. (0623) 596933
PP SIMALUNGUN BRIDGESTONE
Komplek PT. Bridgestone Sumatera Rubber Estate,
Dolok Merangir, Pos Serbalawan, Kab. Simalungun,
North Sumatera.
Telp. (0622) 64118 Fax. (0622) 64227
KC MEDAN GAJAH MADA
St. Gajah Mada No. 7, Kel. Petisah Hulu, Kec. Medan
Baru, Kota Medan, North Sumatera.
Telp. (061) 4550755
Fax. (061) 4550766, 4537627
KC SIBOLGA
St. Sutoyo Siswomiharjo No. 22, Sibolga Utara,
Sibolga, North Sumatera.
Telp. (0631) 24555 Fax. (0631) 26722
KC LUBUK PAKAM
St. Diponegoro No. 45-46, Kel. Lubuk Pakam,
Kec. Lubuk Pakam, Kab. Deli Serdang,
North Sumatera.
Telp. (061) 7952555 Fax. (061) 7951444
RIAU
PP PEKANBARU PMC
Pekanbaru Medical Center, St. Lembaga
Pemasyarakatan No.25, Pekanbaru, Riau.
Telp. (0761) 34325 Fax. (0761) 34325
PP PEKANBARU UIR
Fakultas Ekonomi - Universitas Islam Riau,
St. Kaharudin Nasution No. 113, Pekanbaru, Riau.
KC PEKANBARU HARAPAN RAYA
St. Imam Munandar No. 155, Kel. Tangkerang Utara,
Kec. Bukit Raya, Pekanbaru, Riau.
Telp. (0761) 862222 Fax. (0761) 849799
KC DUMAI
St. Jenderal Sudirman No. 162 Dumai, Riau.
Telp. (0765) 33555 Fax. (0765) 32379
KCP BAGAN BATU
St. Jend. Sudirman No. 649, Bagan Batu,
Kab. Rokan Hilir, Riau.
Telp. (0765) 51890, 51891 Fax. (0765) 51893
KCP BENGKALIS
St. Hangtuah No 35, Kab. Bengkalis, Riau.
Telp. (0766) 24787 Fax. (0766) 24788
KC PEKANBARU
St. Jend. Sudirman No. 169, Pekanbaru, Riau.
Telp. (0761) 8499191, 8499192
Fax. (0761) 849190, 31668
KLS DUMAI SYARIEF KASIM
Kantor Cabang Bank Mandiri St. Sultan Syarif Kasim
No. 99, Dumai, Riau.
Telp. (0765) 33150 Fax. (0765) 31150
KCP PEKANBARU PANAM
St. H.R. Subrantas Km. 9,5 (Depan Ponpes
Babussalam), Kel. Sidomulyo, Kec. Tampan, Panam,
Pekanbaru, Riau.
(0761) 62263, 62385 Fax. (0761) 62270
PP DUMAI CPI
Area Camp PT Chevron Pacific Indonesia (CPI), Riau. Telp. (0765) 826303 Fax. (0765) 999038
KCP PANGKALAN KERINCI
St. Lintas Timur No. 115, Pangkalan Kerinci,
Pekanbaru, Riau.
Telp. (0761) 493335 Fax. (0761) 493337
KCP TEMBILAHAN
St. M. Boya No.4, Tembilahan, Indragiri Hilir,
Pekanbaru, Riau.
Telp. (0768) 21935, 21936, 21937
Fax. (0768) 21938, 21939
KCP UJUNG BATU
St. Jend. Sudirman, Ujung Batu,
Rokan Hulu, Riau.
Telp. (0762) 7363901, 7363902
Fax. (0762) 7363900, 7363903
KCP PEKANBARU NANGKA
St. Tuanku Tambusai No. 320 E-F, Labuh Baru Timur,
Tampan, Pekanbaru, Riau.
Telp. (0761) 7891526 Fax. (0761) 572064
KK PEKANBARU RUMBAI
St. Sekolah, Rumbai No. 10 A, Pekanbaru, Riau.
Telp. (0761) 51959 Fax. (0761) 51876
240
KLS PEKANBARU AHMAD YANI
Kantor Cabang Bank Mandiri St. Jend. Ahmad Yani
No. 85, Pekanbaru, Riau.
Telp. (0761) 7051266 Fax. (0761) 839544
PP PEKANBARU PENGADILAN AGAMA
St. Rawa Indah No. 1, Arifin Ahmad,
Pekanbaru, Riau.
Telp. (0761) 7063358 Fax. (0761) 7063358
Fax. (0777) 327600
KCP BATAMINDO
Shophouse Block F#01-29&30, Kawasan Industri
Batamindo, Batam, Kep. Riau.
Telp. (0770) 612044
Fax. (0770) 612303
KCP BATAM BATU AJI
Komplek Ruko Perumnas Fanindo Block F No. 6,
Tanjung Uncang, Batu Aji, Batam, Kep. Riau.
Telp. (0778) 3581312, 3581314
Fax. (0778) 3581313, 3581315
KCP BATAM CENTER
Komplek Mahkota Raya Block C No. 12,
Batam, Kep. Riau.
Telp. (0778) 7483291, 7483292
Fax. (0778) 7483236
KLS BATAM RAJA ALI HAJI
Kantor Cabang Bank Mandiri, St. Raja Ali Haji No.39,
Batam, Kep. Riau.
Telp. (0778) 425925
Fax. (0778) 430240
KLS BATAM SEKUPANG
Gedung Terminal Ferry Internasional Sekupang lantai
dasar T10, Kota Batam, Kepulauan Riau.
Telp. (0778) 326012, 326013
KC TANJUNG PINANG
St. Diponegoro No. 1 C Tanjung Pinang, Kep. Riau
Telp. (0771) 313788 Fax. (0771) 313995
KCP TANJUNG UBAN
St. Permaisuri Rt 001/007, Tanjung Uban,
Bintan Utara, Bintan, Kep. Riau.
Telp. (0771) 482624 Fax. (0771) 482929
KCP NATUNA
St. Soekarno Hatta, Kel. Ranai Kota,
Kec. Bunguran Timur, Kab. Natuna,
Kepulauan Riau.
Telp. (0773) 31299 Fax. (0773) 31469
REGION II
PP DUMAI PERTAMINA UP II
Kompl. Perumahan Pertamina UP II,
St. Cilacap, Bukit Datuk, Riau.
Telp. (0765) 7011589
PP DUMAI RSUD
Rumah Sakit Umum Daerah,
St. Sultan Syarif Kasim, Dumai
Telp. (0765) 443369 Fax. (0765) 443370
KC DURI
St. Hang Tuah Duri Kab. Bengkalis, Riau.
Telp. (0765) 598990 Fax. (0765) 598993
JAKARTA I
Plaza Bumi Daya Lantai 22,
St. Imam Bonjol No.61, Central Jakarta.
Telp. (021) 3903969 Fax. (021) 3904395
BANTEN
KC TANGERANG
Ruko Business Park Tangerang City, Block A
No. 12, St. Jend. Sudirman, Tangerang, Banten.
Telp. (021) 55781230, 55781231,
Fax. (021) 55781233, 55781232
KEPULAUAN RIAU
KC BATAM
Gedung Graha Sulaeman Block B No. 2 St. Sultan Abdul Rahman, Lubuk Baja,
Batam, Kep. Riau.
Telp. (0778) 431331 Fax. (0778) 432727
KCP TANJUNG BALAI KARIMUN
St. Ahmad Yani No. 3-4, Karimun, Kep. Riau.
Telp. (0777) 327601, 327605
KCP TANGERANG CILEDUG
St. HOS Cokroaminoto No. 69 Ciledug,
Tangerang, Banten.
Telp. (021) 73458147, 73458148
Fax. (021) 73458150, 73458149
KCP TANGERANG BSD
Ruko Golden Madrid Block B/6, St. Letjen Soetopo,
Sektor XIV BSD, Tangerang, Banten.
Telp. (021) 53163209, 53163210, 53163211
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Fax. (021) 53160411
KCP TANGERANG MALABAR
St. Borobudur Raya M 16-17, Bencongan,
Kelapa Dua, Tangerang, Banten.
(021) 55655016, 55655017, 55655012
Fax. (021) 5910544
KCP TANGERANG CIKUPA
St. Raya Serang Km. 14,8, Block B No. 7, Cikupa,
Tangerang, Banten.
Telp. (021) 5963633, 5963634
Fax. (021) 5963635
KCP TANGERANG CIMONE
St. Merdeka No. 308 Cimone, Tangerang, Banten.
Telp. (021) 5580754, 5580711 Fax. (021) 5580807
KCP TANGERANG BALARAJA
Komplek Ruko Indah Mas No. 1, St. Raya Serang KM.
24, Balaraja, Tangerang, Banten.
Telp. (021) 5950124 Fax. (021) 5950123
KLS TANGERANG RS. GLOBAL MEDIKA
RS. Global Medika St. MH. Thamrin No. 3 Tangerang,
Banten.
Telp. (021) 55781523, 55780888
Fax. (021) 55781523
KC CILEGON
St. Sultan Ageng Tirtayasa No. 115 A,
Cilegon, Banten.
Telp. (0254) 399444, 375648 Fax. (0254) 375645
KCP LEBAK BANTEN
St. Alun-Alun Barat No. 1 Lebak, Banten.
Telp. (0252) 5285411, 5285412
Fax. (0252) 5285413
KCP SERANG CIKANDE
Komplek Rumah Toko Modern Block C No. 7-8,
Nambo Ilir, Cikande, Serang, Banten.
Telp. (0254) 402525 Fax. (0254) 402522
KCP LABUAN
St. Jend. Sudirman No. 41, Labuan,
Pandeglang, Banten.
Telp. (0253) 802768, 802769
Fax. (0253) 802767, 802770, 802771
KK PANDEGLANG
St. A. Yani No. 41 E Pandeglang, Banten.
Telp. (0253) 206035 Fax. (0253) 206034
KLS SERANG DIPONEGORO
Kantor Cabang Bank Mandiri St. Diponegoro No. 8,
Serang, Banten.
Telp. (0254) 202567 Fax. (0254) 200678
PP CILEGON PT. KBS
Gedung Utama PT. Krakatau Bandar Samudera,
St. S.Parman Km. 13 Cigading, Cilegon, Banten.
Telp. (0254) 8317043
Fax. (0254) 8317042
PP CILEGON AL AZHAR
Komplek Yayasan Pendidikan Warga
Krakatau Steel, St. Tongkol No. 17, Cilegon, Banten
KC TANGERANG BINTARO
Bintaro Trade Center, St. Jend. Sudirman Block A1 No.
7 - 8, Bintaro Sektor 7, Pondok Aren, Tangerang.
Telp. (021) 7450120, 7453301
Fax. (021) 7450116, 7450296, 7450297
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
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 St. Letjen S Parman
Kav. 84-86, Slipi, West Jakarta.
Telp. (021) 56943409, 56943407
Fax. (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, St.
S. Parman Kav. 62-63 Slipi, West Jakarta.
Telp. (021) 53660560 Fax. (021) 53660560
KLS JAKARTA GD. PUSAT KEHUTANAN
Kantor Cabang Bank Mandiri Wisma Manggala
Wanabhakti, St. Jend. Gatot Subroto, Central Jakarta.
Telp. (021) 5731933 Fax. (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 KEBAYORANKomplek
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 St. Mampang Prapatan No.
96, South Jakarta.
Telp. (021) 7989007, 7989009
Fax. (021) 7989006
KCP JAKARTA CILILITAN
St. Raya Bogor No. 1 Kramat Jati, East Jakarta.
Telp. (021) 80878616, 70982824
Fax. (021) 80878617
KCP JAKARTA PASAR MINGGU
St. Raya Lenteng Agung No. 26, South Jakarta.
Telp. (021) 78833626, 7892545
Fax. (021) 7806973
KCP JAKARTA KEMANG
St. Kemang Raya No. 82, Bangka,
Mampang Prapatan, South Jakarta.
Telp. 021) 7193437, 7193439
Fax. (021) 7197443, 7193452, 7197050
KCP JAKARTA CIRACAS
St. Lapangan Tembak No. 1 Rt. 005/02,
Cibubur, Ciracas, East Jakarta.
Telp. (021) 8704204, 8704164
Fax. (021) 87709405
KK JAKARTA PLAZA MANDIRI
Plaza Mandiri - L 1 St. Jend. Gatot Subroto
Kav 36-38, South Jakarta.
Telp. (021) 5263466, 5263688
Fax. (021) 5263566
KLS JAKARTA PASAR REBO
Kantor Cabang Bank Mandiri Plaza PP,
St. Letjen TB Simatupang No.57, East Jakarta.
Telp. (021) 87780053 Fax. (021) 87790475
KLS JAKARTA CILEUNGSI
RS.MH. Thamrin St. Raya Narogong Km. 15,
Limusnunggal, Cileungsi, Bogor.
Telp. (021) 82491527, 82491433
Fax. (021) 82494270
KLS JAKARTA DEPTAN
Kantor Pusat Departemen Pertanian, Gedung B,
Lantai Dasar, St. Harsono RM. No. 3,
Ragunan, South Jakarta.
Telp. (021) 7801892 Fax. (021) 7801863
KC JAKARTA PONDOK INDAH
Komp. Ruko Pondok Indah Kav. II No.11
Block UA, St.Taman Duta I Sektor II
South Jakarta.
Telp. (021) 7662029, 7662030
Fax. (021) 7662028, 7665391
241
office
networks
Telp. (021) 31901900 Fax. (021) 31902900
KCP JAKARTA GAJAH MADA
St. Gajah Mada No. 16, Petojo Utara, Gambir, Central
Jakarta.
Telp. (021) 6322208
Fax. (021) 6322206, 6322207
Fax. (021) 2600513
KC JAKARTA SAHARJO
St. Minangkabau No. 39, Pasar Manggis Setiabudi,
South Jakarta.
Telp. (021) 8308768, 8292824
Fax. (021) 8308769, 8357309, 8357310
KCP TANGERANG PAMULANG
St. Siliwangi Block SN 21/9 Pamulang, Tangerang.
Telp. (021) 74701759 Fax. (021) 7498348
KK JAKARTA INDOSAT
Gedung Indosat, St. Medan Merdeka Barat
No. 21, Central Jakarta.
Telp. (021) 3519140, 3869969
Fax. (021) 3519141
KCP JAKARTA JATINEGARA
Perkantoran Mitra Matraman Block A1 No. 9, St.
Matraman Raya No. 148, East Jakarta.
Telp. (021) 85904866 Fax. (021) 85905634
KCP JAKARTA CILANDAK
Komplek Ruko Haji Madali
St. Cilandak KKO No. 5E, Cilandak, Ragunan, South
Jakarta.
Telp. (021) 7829780 Fax. (021) 78832136
KK JAKARTA DEPAG
Gedung Depag, St. Lapangan Banteng
No.3-4, Central Jakarta.
Telp. (021) 3441235
Fax. (021) 3441231
KCP TANGERANG CIRENDEU
St. Cirendeu Raya No. 29 E, Cirendeu, Ciputat,
Tangerang Selatan, Banten.
Telp. (021) 74713525, 74714033,
Fax. (021) 7490208, 74713537
KLS JAKARTA IMAM BONJOL
Kantor Cabang Bank Mandiri,
St. Imam Bonjol No.6,1 Central Jakarta.
Telp. (021) 3902394
Fax. (021) 3902394
KCP JAKARTA PONDOK LABU
Graha Fatmawati, St. RS. Fatmawati Block A
No. 1D RT 005/09, Kel. Cilandak Barat,
Kec. Cilandak, South Jakarta.
Telp. (021) 7694434, 75903246
Fax. (021) 7502981, 75910378
KLS JAKARTA FAKHRUDIN
Kantor Cabang Bank Mandiri,
St. Fakhrudin No.15 Tanah Abang, Central Jakarta.
Telp. (021) 3910788 Fax. (021) 3910788
KCP TANGERANG CIPUTAT
St. Ir. H. Juanda No. 111, Ciputat, Tangerang.
Telp. (021) 7425267 Fax. (021) 7423018
KCP DEPOK CINERE
St. Cinere Raya Block A No. 38, Limo, Depok.
Telp. (021) 7548031 Fax. (021) 7548032
KCP TANGERANG BINTARO SEKTOR III
Bintaro Jaya Sektor IIIA, Block DD 10/1,
St. Mandar XX, Tangerang, Banten.
Telp. (021) 7343970, 7343969,
Fax. (021) 73883936, 7343913, 7343920
KLS JAKARTA PONDOK INDAH MALL 2
Kantor Cabang Bank Mandiri Pondok Indah Mall 2
G/33C, St. Metro Pondok Indah, South Jakarta.
Telp. (021) 75920600 Fax. (021) 75920600
PP JAKARTA MADRASAH PEMBANGUNAN UIN
St. Ibnu Taimia IV Komplek UIN Jakarta, Ciputat,
Tangerang, Banten.
Telp. (021) 7444472
KC JAKARTA THAMRIN
St. M. H. Thamrin No. 5, Central Jakarta.
Telp. (021) 2300509, 39839000
Fax. (021) 39832939
KCP JAKARTA TANAH ABANG
Komplek Tanah Abang Bukit, Block F/4,
St. KH. Fachruddin, Central Jakarta.
Telp. (021) 3917747, 3923030
Fax. (021) 3918004
KCP JAKARTA CEMPAKA PUTIH
Komplek Perkantoran Cempaka Putih Permai
Block A No. 24, St. Letjend.R. Soeprapto Kav.10,
Central Jakarta.
Telp. (021) 4229015, 4263402
Fax. (021) 4202258
KCP JAKARTA PASAR BARU
St. Pintu Air No. 7 Block A1, Pasar Baru,
Central Jakarta.
Telp. (021) 3442371 Fax. (021) 3442370
KCP JAKARTA CIKINI
St. Cikini Raya No. 69-71, Cikini, Menteng,
Central Jakarta.
242
PP. JAKARTA BANK INDONESIA
Komplek Bank Indonesia, Gedung Kebon Sirih Lantai
3, Central Jakarta.
KC JAKARTA TANJUNG PRIOK
St. Enggano No. 42B - 42 Tanjung Priok,
North Jakarta.
Telp. (021) 43906060,43906055
Fax. (021) 43906058, 43906059
KCP JAKARTA KRAMAT JAYA
St. Kramat Jaya No. 42 B, Cilincing, North Jakarta.
Telp. (021) 4410348
Fax. (021) 4410348
KCP JAKARTA SUNTER
St. Danau Sunter Block F.21, Kaveling No. 5,
Kel. Sunter Agung, Kec. Tanjung Priok,
North Jakarta.
Telp. (021) 6411078, 65837827
Fax. (021) 65837826
KCP JAKARTA MUARA KARANG
St. Muara Karang Block A.7 No. 173,
Kec. Penjaringan, North Jakarta.
Telp. (021) 66693079, 6616980
Fax. (021) 66693108
KCP JAKARTA RASUNA SAID
Ario Bimo Central Building, St. H.R. Rasuna Said X-2
Kavling 5 South Jakarta.
Telp. (021) 5225961, 5225963
Fax. (021) 5225954
KCP JAKARTA TEBET
St. Tebet Barat IX No. 31, Tebet, South Jakarta.
Telp. (021) 83796551,83796549
Fax. (021) 83796551, 83792030
KCP JAKARTA MEGA KUNINGAN
St. Mega Kuningan Barat Block A9/B9 No. C5-6-7,
Lantai B-D-2-3-4-5-DRM, South Jakarta.
Telp. (021) 57852892, 57852893
Fax. (021) 57852737, 57652822
KLS JAKARTA JATINEGARA TIMUR
Kantor Cabang Bank Mandiri, St. Jatinegara Timur No.
58, East Jakarta.
Telp. (021) 2800033 ext 104/105
Fax. (021) 2300637
KC JAKARTA RAWAMANGUN
St. Paus Raya No. 86, Rawamangun, East Jakarta.
Telp. (021) 4711987
Fax. (021) 4711963
KCP JAKARTA CAKUNG
Kompl. Pusat Perdagangan Ujung Menteng, St.
Hamengkubuwono IX KM. 25 Block B No. 15, Cakung,
East Jakarta.
Telp. (021) 46802224, 46802225
Fax. (021) 46802228
KCP JAKARTA PONDOK BAMBU
St. Pahlawan Revolusi No. 17C, Pondok Bambu, East
Jakarta.
Telp. (021) 70332098, 86613848
Fax. (021) 8611927
KCP JAKARTA KLENDER
St. Teratai Putih Raya No. 26 Block 28, Kel. Malaka
Jaya, Kec. Duren Sawit, East Jakarta.
Telp. (021) 86608551, 86608567
Fax. (021) 8627154
KK JAKARTA PELABUHAN TJ. PRIOK
Gd. Mega Enggano, St. Enggano Block A No.5T,
Tanjung Priok, North Jakarta.
Telp. (021) 43907746, 43907732
Fax. (021) 43907733
KCP JAKARTA UTAN KAYU
St. Utan Kayu No. 49 A, East Jakarta. Telp. (021)
85913922, 85913925
Fax. (021) 85913209
KK JAKARTA RSIJ CEMPAKA PUTIH
Komplek. RSIJ. Cempaka Putih,
St. Cempaka Putih Tengah I/1, Central Jakarta.
Telp. (021) 4251779
Fax. (021) 4251785
KCP JAKARTA DEWI SARTIKA
St. Dewi Sartika Raya No. 139 B, Cawang,
East Jakarta
Telp. (021) 80872793, 80872794
Fax. (021) 8017404
KLS JAKARTA KOTA
Kantor Cabang Bank Mandiri
St. Lapangan Stasiun No.2, West Jakarta.
Telp. (021) 2600500 ext. 342/ 314
KCP JAKARTA PULO GADUNG
St. Bekasi Raya Block 8-I Kaveling No. 7, Cakung, East
Jakarta.
Telp. (021) 46800746, 46800198
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
Fax. (021) 46801198
PP JAKARTA
PERGURUAN MUHAMMADIYAH TEBET
St. Tebet Timur Raya No. 565, Tebet,
South Jakarta.
Telp. (021) 83704332 Fax. (021) 83704332
Fax. (021) 72786360, 72786361
KC JAKARTA CIBUBUR
Ruko Citra Grand Block R-2 No.8-9, St. Raya Alternatif,
Cibubur, East Jakarta.
Telp. (021) 84300107, 84300108
Fax. (021) 84300108, 8449778
KC JAKARTA MERUYA
St. Meruya Ilir No. 36A, Srengseng, West Jakarta.
Telp. (021) 58900468, 58900470
Fax. (021) 58900471, 58900469
KC JAKARTA PONDOK KELAPA
Ruko Komplek Billy & Moon Block E No. 5A-5B, St.
Raya Kalimalang, Pondok Kelapa, East Jakarta.
Telp. (021) 86903501
Fax. (021) 86903502
KCP BEKASI KALIMALANG
Komplek Plaza Duta Permai Block B2/23,
St. K.H. Noer Ali (d/h St. Raya Kalimalang),
Bekasi, West Java.
Telp. (021) 8842886, 88853101
Fax. (021) 8842355
KC JAKARTA KRAMAT
St. Kramat Raya No. 23 C, Central Jakarta.
Telp. (021) 3900349, 3900350
Fax. (021) 3244660, 3901265, 3904715
KCP JAKARTA KEDOYA
Rukan Golden Green No. 9, St. Panjang Kedoya Utara,
West Jakarta.
Telp. (021) 58302309, 58351053
Fax. (021) 56943609, 58351054
KCP JAKARTA TANJUNG DUREN
St. Tanjung Duren Raya No. 129 C, Tanjung Duren
Selatan, West Jakarta.
Telp. (021) 5632891, 5632995
Fax. (021) 56964233, 56980963, 56980964
KCP JAKARTA DURI KOSAMBI
Perumahan Taman Semanan Indah Block G No. 7, St.
Darma Kencana, Duri Kosambi, Cengkareng, West
Jakarta.
Telp. (021) 5450811, 54396002,
Fax. (021) 56984701, 54390485
KC JAKARTA MANGGA DUA
St. Mangga Dua Raya Block E 4 Kav No. 3,
North Jakarta.
Telp. (021) 6128715, 6128716
Fax. (021) 6128615
KCP JAKARTA KALIDERES
Ruko Perum Citra II Niaga Block A No. 26,
Kalideres, West Jakarta.
Telp. (021) 54392124, 54392132
Fax. (021) 54372327, 54392191, 54374588
KC JAKARTA ROXY
Pusat Niaga Roxy Mas Block B1 No. 8, St. K.H. Hasyim
Ashari 125, Central Jakarta.
Telp. (021) 6330939
Fax. (021) 6337116, 6337113
KK JAKARTA TRISAKTI
Universitas Trisakti Kampus A Gedung I,
St. Kyai Tapa No.1, Jakarta Barat.
Telp. (021) 56943139, 56943094
Fax. (021) 56943140
KC JAKARTA CENGKARENG
Ruko Mutiara Taman Palem Block A2 No. 9-10, St. Kamal Raya Outering Ring Road, Cengkareng,
West Jakarta.
Telp. (021) 54353515, 54353540
Fax. (021) 54353155
KLS JAKARTA DAAN MOGOT
Kantor Cabang Bank Mandiri,
St. Daan Mogot, West Jakarta.
Telp. (021) 56952867 Fax. (021) 56952907
PP. JAKARTA PURI
RS. Puri Mandiri Kedoya,
St. Raya Kedoya No. 2, West Jakarta.
Telp. (021) 58303052
Fax. (021) 58303052
KC JAKARTA KELAPA GADING
St. Boulevard Raya No.1-I dan 1-J,
Kelapa Gading, North Jakarta.
Telp. (021) 45874646
Fax. (021) 45874747
KCP JAKARTA RAWASARI
St. Rawasari Selatan No. 18 Block C1,
Central Jakarta.
Telp. (021) 42800166 Fax. (021) 42800114
KCP JAKARTA GADING ORCHARD
St. Kelapa Hibrida Raya Block PF No. 18,
North Jakarta.
Telp. (021) 4534496, 4534497
Fax. (021) 4519899
KC JAKARTA CIPULIR
St. Ciledug Raya Cipulir No. 123E, South Jakarta.
Telp. (021) 7244664, 72786414
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
KC JAKARTA KALIBATA
St. Raya Pasar Minggu No. 75, Kel. Kalibata, Kec.
Pancoran, South Jakarta.
Telp. (021) 7940323, 7940341
Fax. (021) 7940420, 7940353
KC JAKARTA GATOT SUBROTO
Gedung Menara Jamsostek, Menara Utara Lt. 1,
St. Jendral Gatot Subroto No.38, South Jakarta.
Telp. (021) 2523980
Fax. (021) 2523981
KC JAKARTA HAYAM WURUK
St. Hayam Wuruk No. 101, Kec. Tamansari,
West Jakarta.
Telp. (021) 6259000
Fax. (021) 6297427
KC JAKARTA SUNTER AGUNG
Perumahan Griya Inti Sentosa Block A1 Kav. 23-24,
Kel. Sunter Agung, Kec. Tanjung Priok,
North Jakarta.
Telp. (021) 65302005, 65301550
Fax. (021) 65301982
KC JAKARTA SUDIRMAN
Sequis Plaza Ground Floor
St. Jend. Sudirman Kav. 25, South Jakarta.
Telp. (021) 5204792, 5204793
Fax. (021) 5204802, 5204804
West Java
KC BEKASI
Komplek Pertokoan Kalimalang Comm Center, St. A Yani A5 No. 6-7, Bekasi, West Java.
Telp. (021) 8853990, 8856368
Fax. (021) 8856406, 8840355, 8853991
KCP BEKASI CIKARANG
Ruko Sentra Cikarang
St. Cikarang Cibarusan BI. B No. 2,
Cikarang, Bekasi, West Java.
Telp. (021) 89902076, 89902077
Fax. (021) 89906765
KCP KARAWANG
St. Tuparev No. 266, Kel. Nagasari,
Kec. Karawang Barat, Kab. Karawang, West Java.
Telp. (0267) 418451, 418452
Fax. (0267) 402070, 402720
KCP CIKAMPEK
St. A Yani No. 5, Cikampek Kota,
Karawang, West Java.
Telp. (0264) 8385152, 8385154
Fax. (0264) 8385227, 8385153
KCP BEKASI TIMUR
Ruko Kalimas Block C-5,
St. Chairil Anwar, Bekasi, West Java. Telp. (021)
70214078, 88353689
Fax. (021) 8804147, 8803805
KCP BEKASI TAMBUN
St. Sultan Hasanuddin No. 1, Depan Koramil Tambun
Selatan, Tambun, Bekasi, West Java.
Telp. (021) 88377632, 88377633
Fax. (021) 88327079, 88373097
KCP BEKASI KEMANG PRATAMA
St. Raya Kemang Pratama Block AN
No. 1B, Bekasi, West Java.
Telp. (021) 82405246, 82432974
Fax. (021) 8202884
KCP CIKARANG JABABEKA
Ruko Metro Boulevard Block A 1-2,
St. Niaga Raya Jababeka II, Cikarang,
Bekasi, West Java.
Telp. (021) 89842324, 89842325
Fax. (021) 89840499, 89842326
KLS JAKARTA PONDOK KELAPA
Kantor Cabang Bank Mandiri, St. Tarum Barat
Km. 4,5, Kalimalang, Bekasi, West Java.
Telp. (021) 86900456
Fax. (021) 86900456
KCP BEKASI KALIMALANG
Komplek Plaza Duta Permai Block B2/23,
St. K.H. Noer Ali (d/h St. Raya Kalimalang),
Bekasi, West Java.
Telp. (021) 8842886, 88853101
Fax. (021) 8842355
KC BOGOR
St. Pajajaran No. 35, Bogor, West Java.Telp. (0251)
8350562, 8350563
Fax. (0251) 8350565
KCP BOGOR TAJUR
St. Raya Tajur No. 77A, Tajur, Bogor, West Java.
Telp. (0251) 8312169, 8393260
243
office
networks
Fax. (0251) 8320472, 8323932
KCP BOGOR DRAMAGA
St. Perwira No. 151 Dramaga, Bogor, West Java.
Telp. (0251) 8423026, 8628322
Fax. (0251) 8423027
KCP BOGOR MERDEKA
St. Merdeka No. 63, Bogor, West Java. Telp. (0251)
8386570, 8386571
Fax. (0251) 8362312
KCP BOGOR JALAN BARU
St. KH. Sholeh Iskandar No. 77 A-B, Bogor,
West Java.
Telp. (0251) 8377218 Fax. (0251) 8377321
KCP BOGOR CITEUREUP
St. Mayor Oking No. 5 D, Citeureup, Bogor,
West Java.
Telp. (021) 87941450, 87943823
Fax. (021) 87941446
KCP BOGOR POMAD
St. Raya Bogor No. 323, Simpang Pomad, Ciparigi,
Bogor Utara, Bogor, West Java.
Telp. (0251) 8660655, 8660677
Fax. (0251) 8660776
KLS BOGOR KAPTEN MUSLIHAT
Kantor Cabang Bank Mandiri, St. Kapten Muslihat
No.17, Bogor, West Java.
Telp. (0251) 8348065
Fax. (0251) 8348139
KC DEPOK
Ruko Depok Mas Block A1-2, St. Margonda Raya No.
42, Depok, West Java.
Telp. (021) 7765231, 7765251
Fax. (021) 77202905
KCP DEPOK MARGONDA
St. Margonda Raya No. 349 A-B,
Depok, West Java.
Telp. (021) 7865162, 7874604
Fax. (021) 78882141, 77218314
KCP DEPOK CIMANGGIS
St. Raya Bogor KM 31, Pasar Cisalak, Cimanggis,
Depok, West Java.
Telp. (021) 87718007, 87712625
Fax. (021) 87720017, 87710661
KCP DEPOK SAWANGAN
Ruko Bukit Sawangan Indah Block F2 No. 3, St. Raya
Parung, Sawangan, Depok, West Java.
Telp. (0251) 601771, 70628284
Fax. (0251) 619609
KCP DEPOK DUA
St. Raya Tole Iskandar No. 29E, Sukmajaya,
Depok, West Java.
Telp. (021) 77835544, 77824466
Fax. (021) 77835599, 77825588
KCP DEPOK KELAPA DUA
Komplek Ruko Depok, St. Raya Akses UI No. 9B & 9C,
Kelapa Dua, Depok, West Java.
Telp. (021) 87720737, 87707799
Fax. (021) 87720741, 87706916
KCP DEPOK NUSANTARA
St. Nusantara Raya No. 110, Depok Jaya,
Pancoran Mas, Depok, West Java.
Telp. (021) 77218797, 77218870
244
Fax. (021) 77218799, 7776682
KK DEPOK FMIPA – UI
Komplek Fakultas MIPA Universitas Indonesia,
Depok, West Java.
Telp. (021) 78849007, 77211981
Fax. (021) 78849614
KLS DEPOK CIMANGGIS
Kantor Cabang Bank Mandiri St. Raya Bogor KM 28,
Cimanggis, Depok, West Java.
Telp. (021) 87713957, 8710013 ext 14-15
Fax. (021) 87713957, 8710775
PP DEPOK YAYASAN PENDIDIKAN
NURUL FIKRI
Yayasan Pendidikan Nurul Fikri
St. Situ Indah No. 116, Tugu Cimanggis, Depok, West
Java.
Telp. (021) 8724729
Fax. (021) 8724729
KC BEKASI PONDOK GEDE
St. Jatiwaringin Raya No. 110 D-E, Pondok Gede, Kota
Bekasi, West Java.
Telp. (021) 84970255, 84900806
Fax. (021) 84970265, 84900810
KC CIBINONG
Ruko Graha Cibinong Block D No. 2, St. Raya Bogor
KM 43 Cibinong, Bogor, West Java.
Telp. (021) 87915703, 87915704
Fax. (021) 87919008
REGION III
KCP PALEMBANG KM 5
St. H. Kol Burlian No. 7 C, Km. 5, Palembang, South
Sumatera.
Telp. (0711) 417045, 417478 Fax. (0711) 417068
KCP LAHAT
St. May. Ruslan III No. 27, Pasar Lama, Lahat,
Kab. Lahat, South Sumatera.
Telp. (0731) 323153, 325924 Fax. (0731) 324701
KCP KAYU AGUNG
St. Letnan Muchtar Saleh No. 98, Kel. Mangun Jaya,
Kec. Kayu Agung,
Kab. Ogan Komering Ilir,
South Sumatera.
Telp. (0712) 323584 Fax. (0712) 323586
KCP SUNGAI LILIN
St. Raya Palembang-Jambi Km. 110 No. 001, Kec.
Sungai Lilin, Kab. Musi Banyuasin, South Sumatera.
Telp. (0714) 7343026 Fax. (0714) 7343099
KLS PALEMBANG RIVAI
Kantor Cabang Bank Mandiri, St. Kapt. A. Rivai No.
1008, Palembang, South Sumatera.
Telp. (0711) 320555 Fax. (0711) 356567
PP PALEMBANG RADIAL
St. Brigjend. H.M. Dhanie Effendi (Radial) No.1429 C,
Palembang, South Sumatera.
Telp. (0711) 350160, 350245 Fax. (0711) 351444
KC PRABUMULIH
St. Jend. Sudirman No. 7-8 Rt 01/10, Kel. Muara Dua,
Kec. Prabumulih Timur, Kota Prabumulih, South
Sumatera.
Telp. (0713) 322888 Fax. (0713) 322565
JAKARTA II
Plaza Bumi Daya Lantai 22,
St. Imam Bonjol No.61, Central Jakarta.
Telp. (021) 3903969 Fax. (021) 3904492
South Sumatera
KC PALEMBANG
St. Jend. Sudirman No. 80 Palembang,
South Sumatera.
Telp. (0711) 367868, 366733
Fax. (0711) 354184
KCP PALEMBANG PASAR 16 ILIR
Pasar 16 Ilir, St. Masjid Lama No. 30, Palembang,
South Sumatera.
Telp. (0711) 377244, 377322
Fax. (0711) 353594
KCP PALEMBANG SIMPANG PATAL
St. R. Sukamto No. 92A , Palembang,
South Sumatera.
Telp. (0711) 360789, 370901
Fax. (0711) 361311, 361700
KCP LUBUK LINGGAU
St. Yos Sudarso No. 97, Lubuk Linggau,
South Sumatera.
Telp. (0733) 322224
Fax. (0733) 325668
KCP PALEMBANG RADIAL
St. Brigjend. H.M. Dhanie Effendi No. 2886-2887
(Radial), Palembang, South Sumatera.
Telp. (0711) 350160, 350245
Fax. (0711) 351444, 373883
KC BATURAJA
St. Pahlawan Kemarung Baturaja Timur, Kab. Ogan
Komering Ulu, Palembang, South Sumatera.
Telp. (0735) 321755, 321075 Fax. (0735) 324555
JAMBI
KC JAMBI
St. Dr. Sutomo No. 11, Jambi.
Telp. (0741) 27788, 27730 Fax. (0741) 27733
KCP MUARA BUNGO
St. Prof. Muhammad Yamin, SH No. 21,
Kab. Muara Bungo, Jambi.
Telp. (0747) 323077 Fax. (0747) 322996
KCP JAMBI SIPIN
St. Kapt. Bakaruddin No. 72, Jambi.
Telp. (0741) 669910, 670220 Fax. (0741) 667533
KCP SAROLANGUN
St. Lintas Sumatera No. 34, Simpang III Kantor Bupati
Sarolangun, Kel. Sarolangun Kembang,
Kec. Sarolangun, Kab. Sarolangun, Jambi.
Telp. (0745) 92666 Fax. (0745) 92229
KLS JAMBI SIPIN
Kantor Cabang Bank Mandiri, St. Kol. Abujani No.54,
Jambi.
Telp. (0741) 66522 Fax. (0741) 668220
PP JAMBI IAIN STS
Komplek IAIN Sulthan Thaha Saifuddin
St. Arif Rahman Hakim, Telanaipura, Jambi.
Telp. (0741) 668069 Fax. (0741) 668069
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
BENGKULU
KC BENGKULU
St. Semangka No. 49, Lingkar Timur, Bengkulu.
Telp. (0736) 342007, 346498 Fax. (0736) 346707
KCP CURUP
St. Merdeka No. 289, Curup, Kab. Rejang Lebong,
Bengkulu.
Telp. (0732) 325480, 23848, 24458
Fax. (0732) 325447
KLS BENGKULU S.PARMAN
Kantor Cabang Bank Mandiri, St. Letjen. S.Parman
No.183, Bengkulu.
Telp. (0736) 24313 Fax. (0736) 24313
PP BENGKULU UNIV. MUHAMMADIYAH
Kompl. Universitas Muhammadiyah Bengkulu,
St. Bali P.O. Box 113, Bengkulu.
LAMPUNG
KC BANDARLAMPUNG
St. R.A Kartini No. 99C - 99D, Bandarlampung,
Lampung.
Telp. (0721) 264088, 264188 Fax. (0721) 263588
KCP BANDARLAMPUNG METRO
St. Ryacudu A. 8 Metro, Lampung Tengah,
Bandarlampung, Lampung.
Telp. (0725) 7851606 Fax. (0725) 7851605
KCP PRINGSEWU
St. Ahmad yani No. 130, Pringsewu, Kab. Tanggamus,
Lampung.
Telp. (0729) 22233 Fax. (0729) 23574
KCP BANDARLAMPUNG KEDATON
St. Teuku Umar No. 34 B, Kedaton, Bandarlampung,
Lampung.
Telp. (0271) 789600 Fax. (0271) 783207
KCP UNIT 2 TULANG BAWANG
St. Raya Lintas Timur No. 24-25 Unit 2,
Kampung Dwi Warga, Tunggal Jaya, Kec. Banjar
Agung, Kab. Tulang Bawang, Lampung.
Telp. (0726) 750169 Fax. (0726) 750279
KLS BANDARLAMPUNG TELUK BETUNG
MALAHAYATI Teluk Betung, Bandarlampung,
Lampung. KC Bank Mandiri
St. Laksamana Malahayati No.3
Telp. (0721) 482646 Fax. (0721) 482668
PP BANDARLAMPUNG GREAT GIANT
Kompleks PT. Great Giant Pineaple, St. Raya Arah
Menggala KM 77, PINEAPLE COMPANY
Lampung Tengah, Bandarlampung, Lampung.
Telp. (0725) 7573001 Fax. (0725) 7573001
PP BANDARLAMPUNG GUNUNG MADU
Kompl. Gunung Madu Plantations Km 90 Gunung
Batin, Lampung Tengah, Bandarlampung, Lampung.
Telp. (0725) 561700 Fax. (0725) 561800
KC BANDAR JAYA
Komp. Pertokoan Central Niaga Bandar Jaya
No. 1-3, St. Proklamator Raya, Yukum Jaya, Lampung
Tengah, Lampung.
Telp. (0725) 529825, 529826
Fax. (0725) 529831
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
West Java
KC BANDUNG
St. Ir. H. Juanda No. 24, Kel. Citarum,
Kec. Cibeunying, Bandung, West Java.
Telp. (022) 84469446
Fax. (022) 84469446
KLS BANDUNG ASIA AFRIKA
Kantor Cabang Bank Mandiri,
St. Asia Afrika No. 118-120, Bandung, West Java.
Telp. (022) 4267224 Fax. (022) 4267224
KCP CIANJUR
St. Siliwangi No. 6 Pamoyanan, Cianjur, West Java.
Telp. (0263) 284648 Fax. (0263) 284677
PP GARUT DARUL ARQOM
Lembaga Pendidikan Ma’had Darul Arqam
Muhammadiyah, St. Ciledug No. 264/36,
Garut, West Java.
Telp. (0262) 236109 Fax. (0262) 236109
KCP GARUT
St. Cikuray No. 6, Kota Garut, West Java.
Telp. (0262) 243689, 243692 Fax. (0262) 233137
KC CIREBON
St. Siliwangi No. 102, Cirebon, West Java.
Telp. (0231) 202760, 202093 Fax. (0231) 202067
KCP BANDUNG BUAH BATU
St. Buah Batu Raya No. 151 A-B, Bandung,
West Java.
Telp. (022) 7302114 Fax. (022) 7322301
KCP KUNINGAN
St. Siliwangi No. 64, Kuningan, West Java.
Telp. (0232) 875205, 875206 Fax. (0232) 875502
KCP BANDUNG SETIA BUDI
St. Setiabudi No. 169 D, Gegerkalong, Bandung, West
Java.
Telp. (022) 2000495, 2000544 Fax. (022) 2000588
KCP SUMEDANG
St. Pang. Geusan Ulun No. 115, Sumedang,
West Java.
Telp. (0261) 205557, 205559
Fax. (0261) 201993, 205544
KCP BANDUNG METRO MARGAHAYU
Komplek Metro Indah Mall Kav. C-1,
St. Soekarno Hatta No. 590 A, Sekejati, Margacinta,
Bandung, West Java.
Telp. (022) 7535657 Fax. (022) 7536332
KCP BANDUNG UJUNG BERUNG
Pertokoan Cyber Plaza Ruko Block A No. 12-15,
St. AH. Nasution No. 46A, Ujung Berung, Pakemitan,
Cinambo, Bandung, West Java.
Telp. (022) 87880001, 87880002
Fax. (022) 87880004
KCP BANDUNG RANCAEKEK
St. Rancaekek Raya No. 57, Rancaekek, Bandung,
West Java.
Telp. (022) 7790022, 7790024 Fax. (022) 7792632
KCP CIPANAS
Komplek Ruko No. 11 , St. Raya Cipanas, Cianjur, West
Java.
Telp. (0263) 520299 Fax. (0263) 520399
KCP BANDUNG PAJAJARAN
St. Pajajaran No. 89, Kel. Arjuna, Kec. Cicendo,
Bandung, West Java.
Telp. (022) 6125999, 6011741
Fax. (022) 6125998, 6011457
KK BANDUNG JAPATI
Gd. Kantor Pusat PT. Telkom Indonesia,
St. Japati No. 1, Bandung, West Java.
Telp. (022) 7278394 Fax. (022) 7278508
KLS BANDUNG BRAGA
Kantor Cabang Bank Mandiri,
St. Braga No. 133, Bandung, West Java.
Telp. (022) 4224907 Fax. (022) 4224906
KLS BANDUNG SOEKARNO HATTA
Kantor Cabang Bank Mandiri,
St. Soekarno-Hatta No. 486, Bandung, West Java.
Telp. (022) 7538771 Fax. (022) 7538771
KCP JATIBARANG
St. Raya Siliwangi No. 16, Jatibarang, Indramayu,
West Java.
Telp. (0234) 356527, 356529 Fax. (0234) 351061
KCP KADIPATEN
St. Raya Timur II, Dawuan, Kadipaten,
Kab. Majalengka, West Java.
Telp. (0233) 661322, 661400 Fax. (0233) 661414
KCP CIREBON PLERED
St. Ir. H. Juanda No. 29, Plered, Cirebon,
West Java.
Telp. (0231) 322898 Fax. (0231) 322897
KCP INDRAMAYU
St. Jend. Sudirman No. 176, Indramayu,
Kab. Indramayu, West Java.
Telp. (0234) 275052, 275134 Fax. (0234) 273435
KCP CIREBON CILEDUG
St. Letjen S. Parman No. 13, Block Wage
Rt/Rw 06/04, Desa Jati Seeng, Kab. Cirebon,
West Java.
Telp. (0231) 663562, 663564 Fax. (0231) 663563
KLS CIREBON YOS SUDARSO
Kantor Cabang Bank Mandiri,
St. Yos Sudarso No. 11, Cirebon, West Java.
Telp. (0231) 3360005 Fax. (0231) 3360005
PP AL AZHAR CIREBON
Perguruan Islam Al-Azhar, St. Kampung Melati
No. 7, Kesambi, Cirebon , West Java.
Telp. (0231) 231035
PP CIREBON KEMENTRIAN AGAMA
St. Sunan Derajat No. 5, Komplek Perkantoran
Pemda, Kab. Cirebon, SUMBER, West Java.
KC TASIKMALAYA
St. Otto Iskandardinata No. 5, Tasikmalaya,
West Java.
Telp. (0265) 312995, 312999 Fax. (0265) 311199
KCP CIAMIS
Komplek Pasar Manis, l. Letjend. Samuji
No. 17, West Java.
Telp. (0265) 761000 Fax. (0265) 777144
KCP BANJAR
St. Letjen Soewarto No. 37, Kota Banjar,
West Java.
Telp. (0265) 741392, 743434
Fax. (0265) 743444, 745500
245
office
networks
KCP CIAWI
St. Raya Timur Ciawi No.178, Kec. Ciawi,
Kab. Tasikmalaya, West Java.
Telp. (0265) 450001 Fax. (0265) 450002
KLS TASIKMALAYA RSUD
St. Rumah Sakit No. 33, Tasikmalaya, West Java.
Telp. (0265) 328613
KC PURWAKARTA
St. Raden Edi Martadinata, RT 25 RW 05
Kel. Nagri Tengah, Kec. Purwakarta,
Kab. Purwakarta, West Java.
Telp. (0264) 231760 Fax. (0264) 231761
KCP SUBANG
St. Otto Iskandardinata No. 27, Subang,
West Java.
Telp. (0260) 418075, 418076 Fax. (0260) 418077
KCP SUBANG PAMANUKAN
St. Ion Martasasmita No. 32, Pamanukan, Subang,
West Java.
Telp. (0260) 550900 Fax. (0260) 551500
KC CIMAHI
St. Jend. Amir Machmud No. 118, Cibabat, Cimahi,
West Java.
Telp. (022) 6632228 Fax. (022) 6632212
KC SUKABUMI
St. RE. Martadinata No. 38, Gunung Parang,
Cikole, Sukabumi, West Java.
Telp. (0266) 243888 Fax. (0266) 243898
KCP CICURUG
St. Siliwangi, Lebak Sari RT 02/08, Cicurug, Sukabumi,
West Java.
Telp. (0266) 732852 Fax. (0266) 732855
KC BANDUNG KOPO
St. Kopo No. 36, Panjunan, Astanaanyar, Bandung,
West Java.
Telp. (022) 6044881, 6044882
Fax. (022) 6070100, 6073199
KC BANDUNG AHMAD YANI
St. Jendral Ahmad Yani No. 252, Kel. Kacapiring, Kec.
Batununggal, Bandung, West Java.
Telp. (022) 7202688 Fax. (022) 7271334
Central Java
PP SURAKARTA ASSALAM
Pondok Pesantren Modern Islam ‘Assalam’ Kartasura,
Sukoharjo, Kotak Pos 286 Surakarta, Central Java.
Telp. (0271) 737432
Fax. (0271) 737432
PP RSI PKU MUHAMMADIYAH PEKAJANGAN
RSI PKU Muhammadiyah Pekajangan
St. Raya Ambokembang No. 42-43, Kedungwuni,
Pekalongan, Central Java.
PP SUKOHARJO SMK MUHAMMADIYAH I
St. Anggrek No. 2, Sukoharjo, Central Java.
Telp. (0271) 592171 Fax. (0271) 592171
KC SOLO
St. Pemuda No. 57, Ds. Bareng, Kec. Klaten Tengah,
Kabupaten Klaten, Central Java.
Telp. (0272) 327979 Fax. (0272) 328986
KC SEMARANG
St. Pemuda 583-585, Semarang, Central Java.
Telp. (024) 3568891, 3568894
Fax. (024) 3568890
KCP KLATEN
St. Pemuda Tengah No. 43, Klaten, Central Java.
Telp. (0272) 327979 Fax. (0272) 328986
KCP UNGARAN
Ungaran Square, St. Diponegoro No.745,
Ungaran, Semarang, Central Java.
Telp. (024) 6925868, 6925865
Fax. (024) 6925869
KCP SUKOHARJO
St. Raya Solo Permai Block CA-61, Solo Baru,
Sukoharjo, Central Java.
Telp. (0271) 625255 Fax. (0271) 621003
KCP SRAGEN
St. Sukowati No. 111, Sragen, Central Java.
Telp. (0271) 893096 Fax. (0271) 893098
KCP BOYOLALI
St. Pandanaran No. 157, Boyolali, Central Java.
Telp. (0276) 324763 Fax. (0276) 325354
KCP SUKOHARJO PALUR
St. Raya Palur No. 307, Palur, Sukoharjo,
Central Java.
Telp. (0271) 821943, 821944
Fax. (0271) 826899
KCP SOLO PASAR KLIWON
St. Kapten Mulyadi No. 228 D-E, Pasar Kliwon, Solo,
Central Java.
Telp. (0271) 656300, 652190
Fax. (0271) 656300#111
KCP SUKOHARJO KARTASURA
Ruko Kartasura A No. 1, St. Raya Kartasura, Kartasura,
Sukoharjo, Central Java.
Telp. (0271) 784855, 784866 Fax. (0271) 780514
KCP WONOGIRI
St. Jend. Sudirman No. 138, Wonogiri,
Central Java.
Telp. (0273) 321574 Fax. (0273) 324058
KC PEKALONGAN
St. Merdeka No. 5, Pekalongan, Central Java.
Telp. (0285) 434911, 434912
Fax. (0285) 434894
KCP SOLO URIP SUMOHARJO
St. Urip Sumoharjo No. 71, Kepatihan Wetan, Jebres,
Solo, Central Java.
Telp. (0271) 647866 Fax. (0271) 647976
KCP PEMALANG
St. Jend. Sudirman No. 129, Pemalang,
Central Java.
Telp. (0284) 326048, 326049 Fax. (0284) 321291
KK SURAKARTA PASAR KLEWER
St. Pasar Klewer Block F No. 8, Surakarta,
Central Java.
Telp. (0271) 642336 Fax. (0271) 642336
KCP BATANG
St. Jend. Sudirman No. 601, Batang, Central Java.
Telp. (0285) 4495227 Fax. (0285) 4495233
KK SOLO ASSALAAM
St. Garuda Mas No. 4, Pabelan Sukoharjo, Solo,
Central Java.
Telp. (0271) 719943 Fax. (0271) 719682
KLS PEKALONGAN PEKAJANGAN STIKES
Muhammadiyah, St. Raya Ambokembang No.8,
Pekalongan, Central Java.
Telp. (0285) 785375
Fax. (0285) 785375
246
PP PEKALONGAN RSI. SITI KHODIJAH
RS. Islam Siti Khodijah, St. Bandung No. 39-47,
Pekalongan, Central Java.
Telp. (0285) 421988
KLS SOLO SLAMET RIYADI
Kantor Cabang Bank Mandiri, St. Brigjen Slamet
Riyadi No. 16, Solo, Central Java.
Telp. (0271) 647999 Fax. (0271) 647999
KCP MAGELANG
Ruko TOP Square Block A-5, St. Tentara Pelajar
No. 1-5, Magelang, Central Java.
Telp. (0293) 310260 Fax. (0293) 310283
KCP SEMARANG KARANGAYU
Ruko Siliwangi Plaza Block A-5, St. Jend. Sudirman
No. 187-189, Karangayu, Semarang, Central Java.
Telp. (024) 70773184
Fax. (024) 7603139
KCP SEMARANG TIMUR
St. Majapahit No. 339 Kav. A, Gemah, Pedurungan,
Semarang, Central Java.
Telp. (024) 76747824 Fax. (024) 76747825
KCP PURWODADI
St. R. Suprapto No.90, Kel. Purwodadi,
Kec. Purwodadi, Kab. Grobogan, Central Java.
Telp. (0292) 424019 Fax. (0292) 421619
KCP TEMANGGUNG
St. S. Parman No. 10, Temanggung, Central Java.
Telp. (0293) 4900006 Fax. (0293) 4900007
KLS SEMARANG PANDANARAN
Kantor Cabang Bank Mandiri,
St. Pandanaran No. 104, Semarang, Central Java.
Telp. (024) 8455043 Fax. (024) 8455043
PP SEMARANG RS. ROEMANI
Komplek RS. Roemani, St. Wonodri No. 22, Semarang,
Central Java.
Telp. (024) 8444623 Fax. (024) 8444623
KC PURWOKERTO
St. Jend. Sudirman No. 443, Purwokerto,
Central Java.
Telp. (0281) 641108, 641685
Fax. (0281) 625955
KCP PURBALINGGA
St. Jend. Sudirman No. 2, Purbalingga,
Central Java.
Telp. (0281) 891414, 895353 Fax. (0281) 895567
KCP BANJARNEGARA
St. Letnan Jend. Suwondo Parman No. 31,
Kab. Banjarnegara, Central Java.
Telp. (0286) 5985994, 5985995
Fax. (0286) 5985998
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
PP CILACAP AL AZHAR
Perguruan Islam Al Azhar, St. Galunggung No. 8 RT
04/11, Kel. Sidanegara, Kec. Cilacap Tengah, Cilacap,
Central Java.
Telp. (0282) 536362
KK YOGYAKARTA UMY
Kampus Terpadu UMY Yogyakarta, Gd AR Fachruddin
Rektorat B, St. Lingkar Barat, Tamantirto Kasihan,
Bantul, Yogyakarta.
Telp. (0274) 450215 Fax. (0274) 387655
KC TEGAL
St. Gajah Mada No. 90, Tegal, Central Java.
Telp. (0283) 325300, 325301
Fax. (0283) 351460
KK YOGYAKARTA UII
Universiatas Islam Indonesia, Ruang PPKF Lt. I,
Fakultas Teknik Sipil, Yogyakarta.
Telp. (0274) 898412, 898549 Fax. (0274) 898564
KCP BREBES
St. Ahmad Yani No. 21, Brebes, Central Java.
Telp. (0283) 6177837 Fax. (0283) 6177577
KK BANTUL
St. Jend. Sudirman No. B1-2, Bantul, Yogyakarta.
Telp. (0274) 367861, 367871 Fax. (0274) 367857
KLS TEGAL ARIF RAHMAN
Kantor Cabang Bank Mandiri,
St. Arif Rahman Hakim No. 19, Tegal, Central Java.
Telp. (0283) 324100 Fax. (0283) 324100
PP YOGYAKARTA JIH
Jogja International Hospital (JIH), St. Ring Road Utara
No.160, Depok, Sleman, Yogyakarta.
Telp. (0274) 4463052 Fax. (0274) 4463025
KC KUDUS
Ruko Ahmad Yani No. 9, St. Ahmad Yani
Kab Kudus, Semarang, Central Java.
Telp. (0291) 439272 Fax. (0291) 439274
PP YOGYAKARTA UIN SUNAN KALIJAGA
Komp. UIN Sunan Kalijaga St. Marsda Adi Sucipto. Gd.
Kampus Service Center UIN, Yogyakarta.
Telp. (0274) 519742 Fax. (0274) 519742
KC CILACAP
St. Ahmad Yani No. 97, Cilacap, Central Java.
Telp. (0282) 531015, 531038
Fax. (0282) 535870
PP YOGYAKARTA UAD
Universitas Ahmad Dahlan, St. Kapas No. 9, Semaki,
Yogyakarta.
Telp. (0274) 560310 Fax. (0274) 511829
KC PATI
St. P. Sudirman No. 207, Plaza Pati Block A1-A2, Kel.
Pati Lor, Kab. Pati, Central Java.
Telp. (0295) 386699 Fax. (0295) 387799
PP YOGYAKARTA UAD II
Universitas Ahmad Dahlan, St. Pramuka No. 42
Sidikan, Yogyakarta.
KEPULAUAN BANGKA BELITUNG
KC PANGKAL PINANG
St. Masjid Jamik No. 123, Pangkal Pinang,
Kep. Bangka Belitung.
Telp. (0717) 432229, 433177 Fax. (0717) 431445
REGION IV
SURABAYA
West Kalimantan
DI. YOGYAKARTA
KC YOGYAKARTA
Gedung UII, St. Cik Dik Tiro No. 1 Yogyakarta.
Telp. (0274) 555022, 555024
Fax. (0274) 555021
KCP YOGYAKARTA KALIURANG
St. Kaliurang Km. 6,4 No. B 6-A, Yogyakarta.
Telp. (0274) 887041, 887053 Fax. (0274) 887047
KCP WONOSARI
St. Sumarwi No. 30, Wonosari, Gunung Kidul,
Yogyakarta.
Telp. (0274) 391854 Fax. (0274) 391181
KCP YOGYAKARTA KATAMSO
St. Brigjen Katamso No. 160, Keparakan, Mergangsan,
Yogyakarta.
Telp. (0274) 412424, 418084 Fax. (0274) 377290
KCP YOGYAKARTA AMBARUKMO
St. Laksda Adi Sucipto No. 167, Kp. Ambarukmo Block
I, Caturtunggal, Depok, Sleman, Yogyakarta.
Telp. (0274) 484202, 4533873
Fax. (0274) 484859
KCP GODEAN
Ruko Gading Mas, St. Godean Km. 4,4 No. 8 A,
Sleman, Yogyakarta.
Telp. (0274) 626027, 617798 Fax. (0274) 617798
KCP YOGYAKARTA KOTAGEDE
St. Gedong Kuning Selatan No. 5, Purbayan,
Kotagede, Yogyakarta.
Telp. (0274) 4438989, 4439102
Fax. (0274) 4439200
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
KC PONTIANAK
St. Diponegoro No. 95 Pontianak, West Kalimantan.
Telp. (0561) 745004 Fax. (0561) 744774
KCP SINTANG
St. M.T. Haryono No. 55, Sintang, West Kalimantan.
Telp. (0565) 23322 Fax. (0565) 23232
KCP NANGAH PINOH
St. Juang Block C No. 03, Nanga Pinoh, Melawi, West
Kalimantan.
Telp. (0568) 22133 Fax. (0568) 22757
KCP PONTIANAK KOTA
St. Diponegoro No. 95, Pontianak,
West Kalimantan.
Telp. (0561) 737133 Fax. (0561) 737376
KK PONTIANAK POLITEKNIK
Kampus Politeknik Negeri, St. A. Yani No. 52,
Pontianak, West Kalimantan.
Telp. (0561) 583850 Fax. (056) 583844
KLS PONTIANAK SIDAS
Kantor Cabang Bank Mandiri, St. Sidas No. 2,
Pontianak, West Kalimantan.
Telp. (0561) 7069797 Fax. (0561) 763082
KC KETAPANG
St. MT. Haryono No. 111-112 Ketapang, West
Kalimantan.
Telp. (0534) 34600 Fax. (0534) 34395
KC SAMBAS
St. Gusti Hamzah No.41, Dusun Kubu, Desa Durian,
Kec. Sambas, Kab. Sambas, West Kalimantan.
Telp. (0562) 392200 Fax. (0562) 391900
Komplek Darmo Galeria Block C-1, St. Mayjend
Sungkono No.75, Surabaya, East Java.
Telp. (031) 5610554 Fax. (031) 5610556
East Java
KC SURABAYA
St. Raya Darmo No. 17, Surabaya, East Java.
Telp. (031) 5674848, 5679842
Fax. (031) 5679841, 5677062
KCP MOJOKERTO
Komplek Ruko Royal Regency, St. Pahlawan No. 7
Block R-16, Mojokerto, East Java.
Telp. (0321) 333030 Fax. (0321) 333028
KCP SURABAYA AMPEL
St. KH. Mas Mansyur No. 77, Surabaya,
East Java.
Telp. (031) 3574850, 3574851
Fax. (031) 3537102, 3574940
KCP TUBAN
St. Basuki Rakhmat No. 278, Tuban, East Java.
Telp. (0356) 333654, 333765
Fax. (0356) 322059
KCP JOMBANG
Ruko Cempaka Mas Block A/9, St. Soekarno-Hatta No.
1, Jombang, East Java.
Telp. (0321) 855527, 855528 Fax. (0321) 855526
KCP SURABAYA SUNGKONO
Komplek Ruko Darmo Galeria,
St. Mayjen Sungkono No. 75, Block B-3, Surabaya,
East Java.
Telp. (031) 5632255, 5630380
Fax. (031) 5623496
KCP SURABAYA JEMUR HANDAYANI
St. Jemur Handayani No. 3, Surabaya, East Java.
Telp. (031) 8411230, 8411250
Fax. (031) 8411260
KCP SURABAYA MULYOSARI
St. Raya Mulyosari No. 24 C, Surabaya,
East Java.
Telp. (031) 5911284, 5911286
Fax. (031) 5949222
KCP SURABAYA WIYUNG
Ruko Taman Pondok Indah, St. Raya Wiyung No. A-24,
Surabaya, East Java.
Telp. (031) 7665621, 7673005
Fax. (031) 7661364
KCP SURABAYA DHARMAHUSADA
St. Dharmahusada No. 147, Surabaya, East Java.
Telp. (031) 5962361, 5966285
Fax. (031) 5966281, 5967744
247
office
networks
KCP SURABAYA KAPAS KRAMPUNG
St. Kapas Krampung No. 108, Surabaya,
East Java.
Telp. (031) 5012277 Fax. (031) 5014627
KCP KRIAN
St. Imam Bonjol No. 108, Krian, Sidoarjo,
East Java.
Telp. (031) 8981741, 8981742
Fax. (031) 8981740, 8981743
KCP SURABAYA TANJUNG PERAK
St. Perak Timur No. 564 Block A2, Surabaya,
East Java.
Telp. (031) 3286372, 3285301 Fax. (031) 3286917
KCP SURABAYA BARATA
St. Ngagel Jaya Selatan RMI B-4, Kel. Baratajaya, Kec.
Gubeng, Surabaya, East Java.
Telp. (031) 5024986, 5025150
Fax. (031) 5025121, 5025082
KLS SURABAYA DIPONEGORO
Kantor Cabang Bank Mandiri, St. Raya Diponegoro
No. 155, Surabaya, East Java.
Telp. (031) 5676748 Fax. (031) 5676748
KLS SURABAYA KUSUMA BANGSA
Kantor Cabang Bank Mandiri, St. Kusuma bangsa No.
106, Surabaya, East Java.
Telp. (031) 5350157
(031) 5350157
KLS SURABAYA JEMBATAN MERAH
Kantor Cabang Bank Mandiri, St. Jembatan Merah
No. 25 - 27, Surabaya, East Java.
Telp. (031) 3544928 Fax. (031) 3544928
PP SIDOARJO UMSIDA
Universitas Muhammadiyah,
St. Majapahit No. 666 B, Sidoarjo, East Java.
Telp. (031) 8959961 Fax. (031) 8959961
PP SIDOARJO AL MUSLIM
Yayasan Al Muslim, St. Raya Wadung Asri 39-F, Waru
Sidoarjo, East Java.
Telp. (031) 60112416 Fax. (031) 8674386
PP SURABAYA ITATS
Kampus ITATS, St. Arif Rachman Hakim No. 100,
Surabaya, East Java.
Telp. (031) 5912381 Fax. (031) 5912381
PP PONPES QOMARUDIN
Yayasan Pondok Pesantren Qomaruddin (YPPQ), St.
Raya Bungah 01, Bungah, Gresik, East Java.
248
KCP BANGKALAN
St. KH. Moh. Sholeh No. 52, Bangkalan, East Java
Telp. (031) 3093380 Fax. (031) 3093379
KCP KEDIRI PARE
St. W. R. Supratman No. 11 A, Pare, Kediri, East Java.
Telp. (0354) 397111 Fax. (0354) 397804
KCP SUMENEP
St. Trunojoyo No. 49, Kelurahan Pajagalan,
Kecamatan Kota Sumenep, Kabupaten Sumenep,
East Java. East Java.
Telp. (0328) 673431 Fax. (0328) 669300
KCP NGANJUK
St. Ahmad Yani No. 199, Kel. Payaman,
Kec. Nganjuk, Kab. Nganjuk, East Java.
Telp. (0358) 324700 Fax. (0358) 324798
KCP SAMPANG
St. KH. Wahid Hasyim No. 24, Sampang, East Java.
Telp. (0323) 324123 Fax. (0323) 324111
KC JEMBER
St. Panglima Besar Sudirman No. 41-43, Jember, East
Java.
Telp. (0331) 411522 Fax. (0331) 411525
KC MALANG
St. Basuki Rachmad No. 8, Kayutangan, Malang, East
Java.
Telp. (0341) 362122 Fax. (0341) 347933
KCP BONDOWOSO
St. Panglima Besar Sudirman No. 1, Bondowoso, East
Java.
Telp. (0332) 427999 Fax. (0332) 432844
KCP PASURUAN
St. Panglima Sudirman No. 14C, Pasuruan,
East Java.
Telp. (0343) 431588, 431589 Fax. (0343) 431618
KCP SITUBONDO
St. Pemuda No.187, Situbondo, East Java.
Telp. (0338) 671700 Fax. (0338) 674121
KCP PROBOLINGGO
Ruko Manunggal No. 7, St. Soekarno-Hatta,
Probolinggo, East Java.
Telp. (0335) 428899 Fax. (0335) 420530
KCP MALANG BATU
St. Diponegoro 48, Kota Batu, East Java.
Telp. (0341) 5025550, 5025551 Fax. (0341) 594273
KCP KEPANJEN
St. Ahmad Yani No. 103 B, Kepanjen,
Kab. Malang, East Java.
Telp. (0341) 396093 Fax. (0341) 391358
KCP PANDAAN
Pertokoan Central Niaga Block A1, St. Ahmad Yani No.
321, Pandaan, Pasuruan, East Java.
Telp. (0343) 639262, 639263 Fax. (0343) 639266
KCP LUMAJANG
St. Panglima Besar Sudirman No.45,
Kel. Tompokersan, Kec. Lumajang, Kab. Lumajang,
East Java.
Telp. (0334) 882795, 889635 Fax. (0334) 881335
KCP LAWANG
Perumahan Lawang View, Ruko 3-4 Kavling III,
St. Raya Lawang View, Kel. Lawang, Kec. Lawang, Kab.
Lawang, East Java.
Telp. (0341) 423200 Fax. (0341) 423419
KK JEMBER BALUNG
St. Rambipuji No. 78, Kab. Jember, East Java.
Telp. (0336) 621717
(0336) 621711
KK JEMBER PASAR TANJUNG
St. Trunojoyo No. 165 A, Jember, East Java.
Telp. (0331) 411744 Fax. (0331) 410833
PP JEMBER UNMUH
Universitas Muhammadiyah Jember,
St. Karimata No. 49, Jember, East Java.
Telp. (0331) 335806 Fax. (0331) 335806
PP JEMBER STAIN
Sekolah Tinggi Agama Islam Negeri Jember,
St. Jum’at No. 94, Mangil, Jember, East Java.
Telp. (0331) 411500 Fax. (0331) 411500
KC BANYUWANGI
St. Basuki Rakhmat No. 30, Kel. Singotrunan,
Kec. Banyuwangi, Kab. Banyuwangi, East Java.
Telp. (0333) 418624, 418625
Fax. (0333) 418628, 418626, 418627
KCP GENTENG
St. Gajah Mada no.159 (d.h. St. D.P.U),
Kel. Genteng Kulon, Kec. Genteng, Kab Banyuwangi,
East Java.
Telp. (0333) 842891, 842892 Fax. (0333) 842893
KC GRESIK
St. RA. Kartini No. 180, Gresik, East Java.
Telp. (031) 3972053 Fax. (031) 3972065, 3979791
PP RS. SITI KHODIJAH MUHAMMADIYAH
St. Pahlawan No.260, Sepanjang, Sidoarjo, East Java.
Telp. (031) 7876065 Fax. (031) 7876065
PP MALANG KUCECWARA
Kampus STIE Malang Kucecwara,
St. Candi Kalasan, Malang, East Java.
Telp. (0341) 7788979
PP JOMBANG UNIPDU
Universitas Pesantren Tinggi Darul Ulum, Desa
Rejoso, Peterongan, Jombang, East Java.
Telp. (0321) 873655, 861097 Fax. (0321) 866631
PP MALANG MTS
Madrasah Tsanawiyah Negeri Malang 1,
St. Bandung No. 7, Malang, East Java.
Telp. (0341) 5464532
PP SURABAYA AL FITHRAH
St. Kedinding Lor No. 99, Surabaya, East Java.
Telp. (031) 3761376
KC KEDIRI
St. Brawijaya No. 10, Kediri, East Java.
Telp. (0354) 672000 Fax. (0354) 672105
KC SIDOARJO
Komplek Ruko Central B1 A/3, St. Jenggolo No. 9,
Sidoarjo, East Java.
Telp. (031) 8946449, 8947231
Fax. (031) 8957429, 8921033, 8922129
KC PAMEKASAN
St. KH. Agus Salim No. 3A, Pamekasan, East Java
Telp. (0324) 331223, 331224
Fax. (0324) 331218, 331225
KCP TULUNGAGUNG
Ruko Kepatihan 7-8, St. Panglima Sudirman No. 51,
Tulungagung, East Java.
Telp. (0355) 334455 Fax. (0355) 333130
KC BOJONEGORO
St. Panglima Sudirman No. 99A, Kab. Bojonegoro,
East Java.
Telp. (0353) 892124, 892125 Fax. (0353) 892123
KCP LAMONGAN
St. Panglima Sudirman Ruko L1 Block A10-A11,
Kec. Lamongan, Kab. Lamongan, East Java.
Telp. (0322) 324996, 324997
Fax. (0322) 322338, 324998
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
KC MADIUN
St. Cokroaminoto No. 41, Madiun, East Java.
Telp. (0351) 454000
Fax. (0351) 458300
KC SURABAYA BOULEVARD
St. Bukit Darmo Golf Block B1-20, Desa Pradah
Kalikendal, Kec. Dukuh Pakis, Surabaya.
Telp. (031) 7345599 Fax. (031) 7346788
REGION V
MAKASSAR
St. Dr. Ratulangi No. 88 B-C-D, Makassar,
South Sulawesi.
Telp. (0411) 833070 Fax. (0411) 833069
South Kalimantan
KC BLITAR
St. Tanjung No.A4-A5, Kel. Sukorejo, Kec. Sukorejo,
Kotamadya Blitar, East Java.
Telp. (0342) 816999
Fax. (0342) 816777
BALI
KC DENPASAR
Teuku Umar Square. St. Teuku Umar No. 177,
Denpasar, Bali.
Telp. (0361) 231999
Fax. (0361) 237100
KCP BULELENG
St. Erlangga No.14, Buleleng, Bali.
Telp. (0362) 32666, 25968
Fax. (0362) 27747, 25969
KCP DENPASAR GATOT SUBROTO
St. Gatot Subroto No. 45, Desa Putri Kaja, Kec.
Denpasar Barat, Kota Denpasar, Bali.
Telp. (0361) 432595 Fax. (0361) 434045
KK KUTA
St. Raya Legian No. 448, Kuta, Badung, Bali.
Telp. (0361) 754222
(0361) 763415
West Nusa Tenggara
KC BANJARMASIN
St. Lambung Mangkurat No. 16, Banjarmasin, South
Kalimantan.
Telp. (0511) 3366408, 3366409
Fax. (0511) 3366426
KCP BANJARMASIN A. YANI
St. Ahmad Yani Km. 4 No. 27, Banjarmasin, South
Kalimantan.
Telp. (0511) 3250033,3250022
Fax. (0511) 3252974
KCP BATULICIN
St. Raya Batulicin RT. 24 No. 193, Kel Kampung Baru,
Kec Batulicin, Kab. Tanah Bumbu, South Kalimantan.
Telp. (0518) 70222, 75497 Fax. (0518) 75496
KCP BARABAI
St. Ir. PM. Noor, Barabai, South Kalimantan.
Telp. (0517) 44121, 44141 Fax. (0517) 41909
KCP BANJARMASIN SENTRA ANTASARI
St. P. Antasari No. 75, Banjarmasin,
South Kalimantan.
Telp. (0511) 3269969, 3268188
Fax. (0511) 3254445
KCP PELAIHARI
St. Haji Boejasin RT. 21 RK. VI, Kel. Angsau, Kec.
Pelaihari, Kab. Tanah Laut, South Kalimantan.
Telp. (0512) 22223 Fax. (0512) 22600
KCP SUMBAWA
St. Diponegoro No. 40, Sumbawa,
West Nusa Tenggara.
Telp. (0371) 22255 Fax. (0371) 625300
KCP KOTABARU
St. Veteran No. 8 RT. 02 RW. 1, Desa Dirgahayu, Kec.
Pulau Laut Utara, Kab. Kotabaru, South Kalimantan.
Telp. (0518) 21777 Fax. (0518) 22444
KCP MATARAM PANCOR
St. TG KH. Muhammad Zainuddin Abdul Majid No.1,
Pancor, Mataram, West Nusa Tenggara.
Telp. (0376) 23772, 23774 Fax. (0376) 23773
KK BANJARMASIN S. PARMAN
RS. Islam Banjarmasin (Eks-Siolatama),
St. Suwondo Parman No. 88, Banjarmasin, South
Kalimantan.
Telp. (0511) 3366033, 3366034
Fax. (0511) 33560254
KCP BIMA
St. Sultan Kaharudin, Kompleks Sultan Square
A4-A5, Kec. Saranae Barat, Bima,
West Nusa Tenggara.
Telp. (0374) 44222 Fax. (0374) 44448
PP MATARAM IAIN
Komplek Institut Agama Islam Negeri (IAIN),
West Nusa Tenggara.
Telp. (0370) 648666 Fax. (0370) 648666
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id
PP BANJARMASIN POLIBAN
Komplek Politeknik Negeri,
St. Brigjend H. Hasan Basry, Banjarmasin,
South Kalimantan.
Telp. (0511) 3304371 Fax. (0511) 3304372
PP BANJARMASIN SD MUHAMMADIYAH
SD Muhammadiyah VIII & X, St. Cempaka I RT. 3 Kel
Kertak Baru Ulu, Banjarmasin,
South Kalimantan.
Telp. (0511) 3361808 Fax. (0511) 3361808
KC MARTAPURA
St. A. Yani KM 40 No. 5, Martapura,
South Kalimantan.
Telp. (0511) 4722713, 4722755
Fax. (0511) 4722714
KC TANJUNG
St. Ir. Pangeran Haji Muhammad Noor No. 58,
Desa Pembataan, Kec. Murung Pudak,
Kab. Tabalong, South Kalimantan.
Telp. (0526) 2024484 Fax. (0526) 2024494
East Kalimantan
KCP BANJARMASIN PS. CEMPAKA
St. Niaga No. 7, Banjarmasin, South Kalimantan.
Telp. (0511) 3366008, 366009
Fax. (0511) 3361101
KC MATARAM
St. Hasanudin No. 40, Mataram,
West Nusa Tenggara.
Telp. (0370) 644888, 622300
Fax. (0370) 634999, 622700
KCP PRAYA
St. Jenderal Sudirman No. 1, Praya,
Lombok Tengah, West Nusa Tenggara.
Telp. (0370) 653159 Fax. (0370) 654394
KLS BANJARMASIN SAMUDERA
Kantor Cabang Bank Mandiri,
St. Lambung Mangkurat No. 4, Banjarmasin,
South Kalimantan.
Telp. (0511) 3364647 Fax. (0511) 3364647
KK BANJARBARU
St. Ahmad Yani Km. 33,300, Banjarbaru,
South Kalimantan.
Telp. (0511) 4789947, 4789948
Fax. (0511) 4789949
KLS BANJARMASIN AHMAD YANI
Kantor Cabang Bank Mandiri, St. Ahmad Yani KM. 2
No. 4-5, Banjarmasin, South Kalimantan.
Telp. (0511) 3255829 Fax. (0511) 3255829
KC BALIKPAPAN
St. Jend. Sudirman No. 330, Balikpapan, East
Kalimantan.
Telp. (0542) 413382, 414630 Fax. (0542) 412109
KCP BALIKPAPAN SEPINGGAN
St. Marsma Iswahyudi No. 471 Rt. 028, Kel.
Sepinggan, Kec. Balikpapan Selatan, Kota Balikpapan,
East Kalimantan.
Telp. (0542) 771505, 771507 Fax. (0542) 771509
KCP BALIKPAPAN BARU
Ruko Balikpapan Baru Block C No. 1 B, St. M.T.
Haryono, Balikpapan, East Kalimantan.
Telp. (0542) 8870125, 8870149
Fax. (0542) 8870126
KLS BALIKPAPAN SUPRAPTO
Kantor Cabang Bank Mandiri, St. Letjen Suprapto No.
1 Balikpapan, East Kalimantan.
Telp. (0542) 425704 Fax. (0542) 425704
KC SAMARINDA
St. Jenderal Sudirman No. 24, Samarinda, East
Kalimantan.
Telp. (0541) 203012, 203013
Fax. (0541) 203017
KCP BONTANG
St. MT. Haryono No. 53 Kodya Bontang,
East Kalimantan.
Telp. (0548) 20007 Fax. (0548) 25005
KCP TARAKAN
St. Yos Sudarso No. 64, Tarakan, East Kalimantan.
Telp. (0551) 35050 Fax. (0551) 35051
249
office
networks
KCP PAHLAWAN
St. Pahlawan Block F No. 5 B, Kel. Dadimulya,
Kec. Samarinda Ulu, Samarinda, East Kalimantan.
Telp. (0541) 731200 Fax. (0541) 731299
KLS MAKASSAR KARTINI
Kantor Cabang Bank Mandiri, St. R.A Kartini
No. 12-14, Makassar, South Sulawesi.
Telp. (0411) 325789 Fax. (0411) 325789
KK SAMARINDA LAMBUNG MANGKURAT
St. Lambung Mangkurat No. 18 B, Samarinda, East
Kalimantan.
Telp. (0541) 735444 Fax. (0541) 767459
PP WATAMPONE STAIN
Sekolah Tinggi Agama Islam Negeri (STAIN)
Watampone, St. HOS. Cokroaminoto, Watampone,
South Sulawesi.
Telp. (0481) 22050 Fax. (0481) 22050
KLS SAMARINDA KESUMA BANGSA
Kantor Cabang Bank Mandiri St. Kesuma Bangsa No.
76 Samarinda, East Kalimantan.
Telp. (0541) 732732
Fax. (0541) 732732
KC KUTAI
St. KH. Akhmad Muksin No. 29, Tenggarong,
Kab. Kutai, East Kalimantan.
Telp. (0541) 665362, 665365 Fax. (0541) 665361
South Sulawesi
PP MAKASSAR RS. IBNU SINA
Rumah Sakit Ibnu Sina, St. Urip Sumoharjo No. 264
Km. 4, Makassar, South Sulawesi.
Telp. (0411) 420700 Fax. (0411) 420095
PP MAKASSAR UNISMUH
Kampus Universitas Muhammadiyah Makassar,
St. St. Alauddin No. 259, Makassar,
South Sulawesi.
GORONTALO
KC GORONTALO
St. Ahmad Yani No. 127, Gorontalo.
Telp. (0435) 828666 Fax. (0435) 830056
Central Kalimantan
KC PALANGKARAYA
St. Ahmad Yani No. 46, Palangkaraya,
Central Kalimantan.
Telp. (0536) 3222223
Fax. (0536) 3227000
KC PANGKALAN BUN
St. Sukma Arianingrat No. 14, Kel. Baru,
Kec. Arut Selatan, Kab. Kota Waringin Barat, Central
Kalimantan.
Telp. (0532) 25624, 25625 Fax. (0532) 25636
Central Sulawesi
South East Sulawesi
KC MAKASSAR
St. Dr. Ratulangi No. 88 B-C-D, Makassar,
South Sulawesi.
Telp. (0411) 833070
Fax. (0411) 833069
KCP BONE
St. Jend. Ahmad Yani No. 48, Watampone,
Kab. Bone, South Sulawesi.
Telp. (0481) 28774 Fax. (0481) 28775
KCP MAKASSAR PANAKUKKANG
St. Boulevard, Ruko Jasper II No. 11 Panakukkang,
Makassar, South Sulawesi.
Telp. (0411) 455151 Fax. (0411) 455152
KCP BULUKUMBA
St. Lanto Dg. Passewang No. 33, Bulukumba, South
Sulawesi.
Telp. (0413) 83088 Fax. (0413) 82099
KC PALU
St. Gajahmada No. 77 Palu, Central Sulawesi.
Telp. (0451) 426222 Fax. (0451) 452108
KCP LUWUK
St. Jenderal Ahmad Yani No. 112, Luwuk,
Kab. Banggai, Central Sulawesi.
Telp. (0461) 21214, 22779 Fax. (0461) 325456
KC KENDARI
St. Abdullah Silondae No.135, Kel. Korumba,
Kec. Mandonga, Kota Kendari, South East Sulawesi.
Telp. (0401) 3128822, 3128245
Fax. (0401) 3127478, 3128897
West Sulawesi
KCP PARIGI MOUTONG
St. Trans Sulawesi, Parigi Moutong,
Central Sulawesi.
Telp. (0450) 21345, 21402
Fax. (0450) 21411, 21403, 21409
KCP PALU PLAZA
Komplek Palu Plaza Block IV, St. Sis Al Jufri, Palu,
Central Sulawesi.
Telp. (0451) 427769, 426093
Fax. (0451) 426182, 426721
KCP PARE PARE
St. Bau Massepe No. 419 D, Pare-pare,
South Sulawesi.
Telp. (0421) 26699 Fax. (0421) 26566
KCP MOROWALI
St. Trans Sulawesi, Ds. Matansala, Kec. Bungku
Tengah, Kab. Morowali, Central Sulawesi.
Telp. (0451) 452108
KCP PALOPO
St. Andi Djemma No. 4, Palopo, South Sulawesi.
Telp. (0421) 325936 Fax. (0421) 325929
KLS PALU SAM RATULANGI
Kantor Cabang Bank Mandiri, St. Dr. Sam Ratulangi
No. 60 Palu, Central Sulawesi.
Telp. (0451) 454999 Fax. (0451) 452666
KC MAMUJU
St. Urip Sumoharjo No. 44, Mamuju,
West Sulawesi.
Telp. (0426) 22651, 2703380 Fax. (0426) 21922
NUSA TENGGARA TIMUR
KC KUPANG
St. Sudirman No. 33, Kupang,
Nusa Tenggara Timur.
Telp. (0380) 834100, 823466
Fax. (0380) 826150, 828617
MALUKU
KCP SENGKANG
St. RA Kartini No.86, Kel. Pattirosompe,
Kec. Tempe, Kab. Wajo, South Sulawesi.
Telp. (0485) 324080 Fax. (0485) 323898
KK MAKASSAR DAYA
St. Kapasa Raya No. 29A, Makassar,
South Sulawesi.
Telp. (0411) 4722422 Fax. (0411) 4722280
KLS MAKASSAR SULAWESI
Kantor Cabang Bank Mandiri, St. Sulawesi No. 81
Makassar, South Sulawesi.
Telp. (0411) 335545 Fax. (0411) 331971
KLS MAKASSAR COKROAMINOTO
Kantor Cabang Bank Mandiri, St.H.O.S Cokroaminoto
No.3, Makassar, South Sulawesi.
Telp. (0411) 334464 Fax. (0411) 334464
250
KC AMBON
St. Diponegoro No. 33, Ahusen, Sirimau, Ambon,
Maluku.
Telp. (0911) 355478, 355458
Fax. (0911) 355468, 355498
SULAWESI UTARA
KC MANADO
Kawasan Mega Mas, St. Piere Tendean, Boulevard Block I D-1 No. 28, Manado,
Sulawesi Utara.
Telp. (0431) 879444 Fax. (0431) 879492
MALUKU UTARA
KC TERNATE
Ruko Jatiland Business Center No. 19-20, Ternate,
Maluku Utara.
Telp. (0921) 3127220 Fax. (0921) 3127336
PAPUA
PAPUA BARAT
KC JAYAPURA
Komplek Perniagaan Kelapa Dua - Entrop
St. Raya Kelapa Dua No. 1-2, Entrop,
Jayapura, Papua.
Telp. (0967) 550965, 550966
Fax. (0967) 550968
KC SORONG
St. Ahmad Yani No. 21, Sorong, Papua Barat.
Telp. (0951) 323366 Fax. (0951) 323360
Annual Report 2011 PT Bank Syariah Mandiri
www.syariahmandiri.co.id