Indonesian branchless banking starts

128,000 agents to offer access by year-end

Muliaman Hadad, third from left, the chairman of Indonesia’s Financial Services Authority, and top bank executives explain the branchless program to reporters in Jakarta on March 26.

WATARU SUZUKI, Nikkei staff writer

JAKARTA -- Indonesia on Thursday officially launched a branchless banking program designed to serve the millions of citizens who lack regular accounts. Domestic lenders Bank Mandiri, Bank Rakyat Indonesia, Bank Central Asia and Bank Tabungan Pensiunan Nasional are rolling out the new services. U...

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