Business

Grab announces a partnership with Bank BRIsyariah for providing finance to GrabFood’s partners

Grab partners with Bank BRIsyariah

For the purpose of providing culinary-focused small medium enterprises (SMEs) in Yogyakarta and Surabaya opportunities for financing, Grab has announced a partnership with Bank BRIsyariah.

Through this partnership, all Partners of GrabFood based in Yogyakarta and Surabaya will be eligible to receive financing access from Bank BRIsyariah through multiple schemes.

These schemes include leases of up to five years, purchase sale schemes (murabahah), and a “benefit-micro” financing with a maximum ceiling up to IDR 200 million.

Grab also revealed that it would provide recommendations for its GrabFood merchants which been active on the Grab platform for over three months and have made over a hundred active transactions with Bank BRIsyariah.

However, Grab would only be providing recommendations, and the decision of selecting which merchant is eligible to receive financing access through the Shariah micro-loan scheme would be taken by Bank BRIsyariah.

According to a statement given by Ridzki Kramadibrata, managing director, Grab Indonesia, he said that this partnership will enable both parties to add value to GrabFood’s partners in Indonesia as it would allow them to receive additional capital and in turn facilitate them to grow their culinary business.

He also further said that the partnership focussed more towards the brand’s commitment to improving the welfare and productivity of its driver partners.

According to Ridzki Kramadibrata, “ I believe we can improve the welfare and productivity of our partners as they would receive strategic benefits, financially, that includes opportunities for business development.

“Additionally through this partnership, it also enables us(Grab) to utilize Bank BRIsyariah’s various banking products and services, for transactional, fundraising, or financing,” Kramadibrata added.

Commenting on the partnership, Widodo Januarso, director of retail business, Bank BRIsyariah said, “Through this partnership, we remain highly positive of transforming GrabFood into a number one choice for everyone by bringing additional value to its users and partners.”

Januarso further added, “This announcement makes BRIsyariah the very first Sharia bank that offers benefit-micro financing to partners of GrabFood.”