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In increasing sustainable corporate value, BRILiaN people are committed to implementing the principles of GCG in improving company performance in the corridor of sustainable governance.

GCG implementation at BRI applies 5 (five) principles of good corporate governance: transparency, accountability, responsibility, independence, and fairness.

GCG Structure

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Formulation of GCG principles to Support BRI’s Sustainable Business Activities

Transparency

  1. The Bank disclosed information in a timely, accurate, adequate, clear and comparable manner and can be accessed by interested parties (stakeholders) in accordance with their interests and rights.
  2. The Bank has a policy to disclose important information required by the stakeholders
  3. The Bank discloses information in accordance with prevailing laws and regulations including the Bank’s vision and mission, business values and targets and strategies, financial condition, composition and remuneration of the Board of Commissioners and Board of Directors, controlling shareholder, organizational structure, risk management, internal control system, and implementation of GCG and compliance.
  4. The principle of information disclosure continued to pay attention to statutory provisions along with Bank and Customer confidential information.

Accountability

  1. The Bank establishes long-term and short-term business targets that are accountable to shareholders and stakeholders
  2. The Board of Commissioners and the Board of Directors submit the annual report and financial accountability in the GMS
  3. The Bank submits the report in accordance with the applicable provisions to the supervisory authority of the Bank and other stakeholders as applicable
  4. The Bank shall determine the duties and responsibilities of the Board of Commissioners, Board of Directors and corporate organs as well as their subordinates in line with the Bank’s vision and mission.
  5. The Bank ensures on the availability of competencies of the Board of Commissioners and the Board of Directors as well as all levels below in accordance with their responsibilities and understands their role in GCG implementation.
  6. The Bank ensures on the availability of structures, systems and SOPs that can ensure the operation of check and balance mechanism in achieving the Bank’s vision and mission.
  7. The Bank has an effective internal control system.

Responsibility

  1. The Bank adheres to the principles of prudence and guarantees the enforcement of regulations, articles of association and internal regulations of the Bank.
  2. The Bank maintains nature conservation through lending policy and other policies that support the natural resources preservation.
  3. The Bank acts as a good corporate citizen through social and environmental responsibility.

Independency

  1. The Bank avoids the dominance of any party, unaffected by certain interests, free of conflict of interest and any influence or pressure so as to act objectively
  2. The Bank performs its functions and duties in accordance with the Articles of Association, internal Bank rules and regulations.

Equality and Fairness

  1. The Bank provides fair and equal behavior to the stakeholders in accordance with the benefit and contribution made to the Bank.
  2. The Bank provides opportunities for stakeholders to provide input and convey opinions for the interests of the Bank and access to information disclosure.

Bank BRI’s governance soft structure includes:

  1. Articles of Association contained in Deed No. 3 dated March 9, 2021 as last amended by Deed No. No. 4th of October 6, 2021.
  2. Joint Decree of the Board of Commissioners and Directors No. 06-KOM/BRI/12/2013 and Nokep: S.65-DIR/DKP/12/2013 dated December 16, 2013 concerning the BRI Code of Ethics.
  3. Joint Decree of the Board of Commissioners and Directors No. 02-KOM/02/2020 and No. 01-DIR/KPT/02/2020 dated February 17, 2020 concerning the Good Corporate Governance Policy of PT Bank Rakyat Indonesia (Persero) Tbk.
  4. Joint Decree of the Board of Commissioners and Directors No. 06-KOM/BRI/07/2015 and No. S.339-DIR/DKP/07/2015 dated July 28, 2015 concerning Guidelines for Integrated Governance of the Financial Conglomerate of PT Bank Rakyat Indonesia (Persero) Tbk.
  5. Joint Decree of the Board of Commissioners and Directors No. 09-KOM/BRI/11/2017 and No. S.1023-DIR/KPS/11/2017 dated November 30, 2017 concerning the Remuneration Governance Policy of PT Bank Rakyat Indonesia (Persero) Tbk.
  6. Decree of the Board of Commissioners No. 09-KOM/11/2018 dated November 1, 2018 concerning the Board of Commissioners Rules of Conduct.
  7. Decree of the Board of Commissioners No. 11-KOM/11/2018 dated November 1, 2018 concerning Guidelines for Audit Committee Rules.
  8. Decree of the Board of Commissioners No. 12-KOM/11/2018 dated November 1, 2018 concerning the Rules of Procedure of the Risk Management Monitoring Committee.
  9. Decree of the Board of Commissioners No. 13-KOM/11/2018 dated November 1, 2018 concerning the Rules of Procedure for the Nomination and Remuneration Committee.
  10. Decree of the Board of Commissioners No. 14-KOM/11/2018 dated November 1, 2018 concerning the Guidelines for the Integrated Governance Committee.
  11. Board of Directors Decree Number KB.01-DIR/MAT/03/2020 dated March 31, 2020 concerning Policies for Fixed Assets and Logistics Management of PT Bank Rakyat Indonesia (Persero) Tbk.
  12. Board of Directors Decree No. B.299-DIR/SKP/04/2020 dated April 24, 2020 concerning Stipulation of Guidelines and Work Procedures for Directors of PT Bank Rakyat Indonesia (Persero) Tbk.
  13. Board of Directors Decree No. B.242-DIR/SKP/03/2020 dated March 30, 2020 regarding the Stipulation of Guidelines and Rules of Procedure for the Board of Directors Meeting of PT Bank Rakyat Indonesia (Persero) Tbk.
  14. Board of Directors Decree Number 166-DIR/KPD/04/2022 dated April 19, 2021 concerning Corporate Governance Guidelines.
  15. Board of Directors Decree No. B.1784-DIR/CSC/CSM/10/2022 dated October 31, 2022 regarding the Stipulation of Guidelines and Rules of Procedure for the Board of Directors Meeting of PT Bank Rakyat Indonesia (Persero) Tbk.
  16. Board of Directors Circular No. SE.63-DIR/KEP/12/2020 dated December 8, 2020 concerning Provisions on Anti-Bribery and Gratification Control of PT Bank Rakyat Indonesia (Persero) Tbk.
  17. Board of Directors Circular No. SE.65-DIR/KEP/10/2021 dated October 28, 2021 concerning the Whistleblowing System.
  18. Board of Directors Circular No. SE.08.DIR/KEP/02/2022 dated February 17, 2022 concerning Implementation of the AntiMoney Laundering (APU) & Prevention of Terrorism Financing (PPT) Program.
  19. Board of Directors Circular No. SE.11-DIR/KEP/03/2022 dated March 4, 2022 concerning Assessment of the Risk Level of Money Laundering and/or Terrorism Financing Crimes (TPPU and/or TPPT) Based on a Risk Based Approach.
  20. Board of Directors Circular No. SE.27-DIR/KEP/04/2022 dated April 18, 2022 concerning Handling of Conflicts of Interest of PT Bank Rakyat Indonesia (Persero) Tbk.
  21. Board of Directors Circular No. SE.28-DIR/KPD/05/2022 dated May 13, 2022 concerning Management of Policies and Procedures.
  22. Board of Directors Circular No. SE. 38-DIR/PPM/06/2022 dated June 23, 2022 concerning Corporate Strategy (Book 2 RBB).
  23. Board of Directors Circular No. SE.58-DIR/ORD/11/2022 datedNovember 22, 2022 concerning Guidelines for Implementing Operational Risk Management (Book 5 AntiFraud Strategy).
  24. Standard Operating Procedure No. SO.79-KEP/12/2021 dated February 28, 2021 concerning Application of Anti-Money Laundering and Counter of Terrorism Financing (AML & CFT) in Operational Work Units.

The procurement of good and services carried out by BRI aims to support bank operations and business performance in general. In an effort to provide the best service and heed the principles of Good Corporate Governance, BRI is determined to create a process of procurement of goods and services that is safe, effective and efficient.

The General Policy of Fixed Asset and Logistic Management (KEMAL) is a guideline in carrying out the process of Procurement of goods and services to support the Bank’s operational activities in accordance with the quality, quantity and time set at the best price while still observing Good Corporate Governance principles.

The objectives of the compilation of KEMAL BRI are:

  1. As a guideline in managing fixed assets and quality logistics services for all BRI work units.
  2. As a guideline in the process of procurement of goods and services at BRI so that the procurement process at BRI.

Principle of Good and Services Procurement

  1. Efficient
    Procurement of goods and / or services must be endeavored to obtain optimal and best results in a short time by using the funds and the minimum capacity to be reasonable and not only based on the lowest price.
  2. Effective
    Procurement of goods and / or services must be in accordance with predetermined needs and provide maximum benefits according to the targets set.
  3. Competitive
    Procurement of goods and / or services must be open to providers of goods and / or services that meet the requirements and carried out through fair competition among providers of goods and / or services that areequal and meet certain requirements / criteria based on clear and transparent provisions and procedures.
  4. Transparent
    All provision and information regarding the procurement of goods and / or services, including technical requirements for procurement administration, evaluation procedures, evaluation results, determination of prospective providers of goods and / or services, are open to participants who are interested in providing goods and / or services.
  5. Fair and equal
    Provide equal treatment for all prospective suppliers of goods and services that meet the requirements.
  6. Accountable
    Must achieve goals and be accountable so as to keep away from potential abuse and irregularities.

Good and Service Procurement Procedure

The stages of implementing the procurement of goods and services at BRI are carried out as follows:

  1. In order to support operational activities, BRI requires adequate facilities and infrastructure to achieve the Company’s objectives. A procurement process is required to fulfill facilities, infrastructure and infrastructure.
  2. In each implementation of the procurement process, it is necessary to determine the Self Estimated Price as one of the bases in determining the method of procurement. In 2017 an Estimation Group was formed, namely an independent work unit that has the duties and responsibilities in preparing and stipulating the HPS for the procurement of goods and / or services at BRI.
  3. The procurement process can be carried out with several methods, including Swakelola, direct purchase, direct appointment, direct election and open auction.
  4. In the procurement process an evaluation of the offer submitted by the prospective Provider of Goods / Services will be carried out to obtain the best quality and price.
  5. In order to obtain conformity between the needs of BRI and the bids submitted by prospective suppliers of goods / services, Clarification and Negotiation will be carried out in the procurement process until the winner of the goods / service provider is determined.
  6. If a winner has been determined, BRI provides a refutation time if there are parties who object to the procurement process that has been carried out or to the winner’s determination. This is done by BRI in order to realize the process of procurement of goods and services that meet the rules of Good Corporate Governance.

Partner Management

The stages of implementing the procurement of goods and services at BRI are carried out as follows:

  1. Providers of good and/or services which will participate in the procurement of good and / or services in BRI need to have a BRI Registration Certificate (TDR). TDR (Partner Register) is a statement in the format of a certificate or letter explaining that the provider of good / services is listed therein has been registered as a BRI Partner, as a condition for participating in the procurement of good / services at BRI.
  2. BRI has a list of suppliers of good/ services that can be used in the process of procuring goods/services at BRI. The list of partners is obtained from the selection of qualifications and requirements determined by BRI. Supplier selection process to consider the legality of the company (not limited to Hinderordonnantie (HO), Environmental impact assessment /AMDAL), the financial aspects, (the company's financial statements) and non-financial, among others related to labor and human factors. The partner selection process is carried out transparently and applies the GCG principles.
  3. The requirements set for the partners of BRI has been done in accordance pinsip procurement such as:
    1. Have a valid business legality
    2. Financial performance report partner in both categories
    3. Having the experience of the field work to be done.
  4. Partner Management Application. BRI has developed application management TDR (Associate Registration) that is integrated with BRISMILE starting from partner registration conducted independently by vendors (via BRI intranet), legality and vendor business evaluation process to issuance of BRI Partner Signs (BRI TDR) by BRI.

As a public company with more than 40% public ownership of its shares, PT Bank Rakyat Indonesia (Persero) Tbk is committed to carrying out its tax obligations following applicable regulations.

Key Tax Principle

In accordance with the provisions of the applicable tax laws, BRI consistently applies tax principles to its tax management implementation.

1) Compliance with tax laws and regulations in different jurisdictions

In their operational activities, BRI and its overseas branch offices have implemented good corporate governance that is carried out transparently and accountably, especially in managing their tax rights and obligations following the provisions of the applicable tax laws in each country.

On May 18, 2020, the Government issued Law Number 2 of 2020 concerning Enactment of Government Regulation in Lieu of Law Number 1 of 2020 concerning State Financial Policy and Financial System Stability For The Handling Of COVID-19 Pandemic and/or in the Framework of Dealing with Threats Endangering the National Economy and/or Financial System Stability Becomes Law, and enact Government Regulation No. 30 of 2020 concerning Reduction of Income Tax Rates for Domestic Entity Taxpayers in the Form of a Public Company and effective from the date of promulgation, namely on June 19, 2020. Furthermore, on October 29, 2021, the Government issued Law of the Republic of Indonesia Number 7 of 2021 concerning Harmonization of Tax Regulations.

The regulation has stipulated, among other things, a reduction in the income tax rate for domestic corporate taxpayers and permanent establishments from previously 25% to 22% for the fiscal years 2020, 2021, and 2022 onwards, as well as a further reduction in the tax rate of 3%, for domestic taxpayers who meet specific requirements such as a publicly listed company that satisfy a minimum listing requirement of 40% and certain other conditions.

Bank BRI has met the requirements to get an incentive to reduce the tax rate by 3% based on the provisions of Article 5 paragraph (2) of Law No. 2 of 2020 so that for 2021 Bank BRI will use a tax rate of 19% in the calculation of Corporate Income Tax.

2) Tax Risk Management and Information Disclosure

Tax-related policies and their implementation are approved and reviewed by the Director of Finance in reporting the Annual Corporate Income Tax Return. The Director of Finance reviews the strategy and performance of this tax obligation annually. Bank BRI always strives to comply with applicable tax regulations.