JAKARTA: Banks are more interested in financing agricultural and plantation sectors through warehouse receipt despite some difficulties.There are several banks disbursing financing through warehouse receipt including PT Bank Syariah Mandiri, PT Bank Rakyat Indonesia Tbk, PT Bank Jabar Banten, PT Bank Jatim, PT Bank Kalsel, and BPRS Bina Amanah.Beside banks, cooperatives under governmental agencies and small-medium business also provide financing by warehouse receipt.Bank Syariah Mandiri (BSM) has been developing the warehouse receipt scheme for its business chance, said Hanawijaya, Director of Small and Micro Financing at PT Bank Syariah Mandiri.Though many agencies provide warehouse receipt financing, Hanawijaya thought that the scheme has not obtained good respond in the market because there has not been perfect partner. Moreover, banks are hindered by collateral fee set by the management, which is considered high by farmers.We are still looking for the solution of how to overcome such high collateral fee from the management, he said.So far, BSM has been financing agricultural sector with linkage scheme through people credit banks and or cooperatives.Hanawijaya revealed that outstanding agricultural financing has been IDR1.1 trillion.In the future, BSM will target agricultural sector in broader sense. Such as financing cattle breeding, he said.Based on data from Commodity Futures Exchange Supervision Board (Bappenti), the total warehouse receipt financing during the first four months of 2011 was IDR8.78 billion, increasing 108% from IDR4.21 billion in the same period last year.The financing was disbursed by financial institutions, both banks and non-bank, to finance 75 warehouse receipt, increasing more than twice the total 35 receipts last year.Bappebti recorded that warehouse receipt financing since being launched in 2008 through April 2011 has reached IDR13.45 billion. The number covered 50.13% of total commodity recorded in the scheme of warehouse receipt during the same period at IDR26.83 billion.The warehouse receipt scheme is specialized at food commodities, including rice, paddy, and corn.The system was implemented in 18 areas, including Banyumas, Karanganyar, Jombang, and Indramayu. (t04/msw)

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