Permata Bank launches E-Bond, Indonesia's first electronic marketplace to buy and sell bonds

Jakarta-based bank Permata Bank has launched an electronic marketplace where users will be able to buy and sell bonds online.

E-Bond will be the first of its kind in Indonesia and will be integrated into the firm’s existing online banking system.

Permata Bank’s existing clients will be able to buy and sell bonds on the bank’s online platform as well as using other online banking services.

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Bianto Surodjo, retail banking director of Permata Bank, explains that it will be necessary for clients to register in person before being able to use the online facility, E-Bond. “The customers must go and register at the branch because we have to explain the procedure and riles. After that, they can conduct transactions anywhere.”

A launch event for the new facility was held at the Indonesia Stock Exchange building in Jakarta on Monday.

The minimum amount necessary for first bond purchases will be $7,581 (100m rupees). Surodjo explains, “We will start with Rp 100m first, then we will analyse the behaviour of customers. If things are going wll, we will lower the limit from time to time.”

Surodjo continues that E-Bond has been launched in order to “simplify bond transactions in everyday life, just by accessing internet banking.”