# Mutual fund

## News

# NROPA POLICY

# NONE RESIDENT OFFSHORE PRIVATE ACCOUNT POLICY

None Resident Offshore Private Account (NROPA)

A Non-Resident Offshore Private Account is an account a foreiner who do not live in Indonesia can open and operate in Indonesia. These accounts are also referred to as Offshore Bank Accounts or Offshore Accounts. NROPA Account can make managing your money overseas easier and safe. Some of the more well-known locations which offer this service include the Indonesia, Channel Islands, Isle of Man and etc.

You can use this type of account to hold money and send and receive payments. You may also be able to set up savings and investment accounts in different currencies. Most non-resident bank accounts come with standard features such as mobile and online banking, and a debit card in soem cases. Some have charges and fees, and you may need to meet certain eligibility criteria. Always check the terms and conditions.

Due to regulatory restrictions and/or the Bank's internal policies, we may not be able to open a NROPA accounts and/or offer all products and services to clients domiciled in certain countries. This account is intended for personal business transactions use. And the holder are not allow to be within the territory of the Republic of Indonesia.

Who is qualify to open a NROPA Account? Only foreigners living outside Indonesia are qualify to open NROPA Account and must be reffered by a client who has NROPA with Bank Syariah Mandiri.

Can a foreigner living in Indonesia open and operate a NROPA Account? No, a foreigner living in Indonesia is not qualify to open NROPA Account.

Can a NROPA Account holder visit Indonesia for business? No, all NROPA Account holders are not allowed to be or seen within the territory of Indonesia.

What should a NROPA Account holder do before visiting Indonesia? You have to contact Madiri Care via email and request to temporary or permanently close your NROPA Account and provide the reason of the closure request, after you must have received a notification that your account has been temporary or permanently closed, you can then visit Indonesia.

What will happen to a NROPA Account holder who did not close his/her account before visiting Indonesia? A NROPA Account holder who visit Indonesia without firstly closing his/her account, has violated NROPA policy and his/her account will be locked for 24 months, and will no longer have access to his/her funds or account until after 24 months. After 24 months the account holder will have to donate 30% of the funds in his/her account to the government approved charity or NGO within Indonesia.

Can bank temporary or permanently close a blocked NROPA account? NO, bank cannot close any NROPA account that is blocked, Your NROPA account can only be temporary or permanently closed when it is unblocked.

How do I get a lawyer if I need one to handle case relating to my NROPA account? Bank Syariah Mandiri Has a very trusted attorney called Yolanda Law & Partners, they are our only trusted law firm who handle our legal issues in many areas and who we refer our customers to if needed.

Why Choose Bank Syariah Mandiri NROPA

Private offshore banking in Indonesia, Asia offers you a significant number of concrete advantages that you simply cannot get from investing within any Asian, American, Canadian or European based banks.
Privacy: Your Money Is Your Business

Indonesia has a stable growing economy with a zero-tax jurisdiction, and strong bank secrecy laws, which benefits Bank Syariah Mandiri clients through increased privacy and confidentiality.

There are no exchange controls in Indonesia, which means that you can take out or deposit money at any time, and your banking information will always belong to you.

Stability: Your Investment Is Secure And Safe

Indonesia is politically stable with a local currency that is pegged to the United States dollar at a fixed rate of Rp 15.3k and all clients account are in either USD, Euro or British Pounds. This means that bank clients can have confidence that their money is safe, and that currency devaluation will not occur. Additionally, Indonesiaan asset protection laws ensures that bank client assets held under certain structures for example: IBCs & trusts are protected from lawsuits, judgments and divorce settlements.

Besides the asset protection, investors can also feel safe when depositing their money in Indonesia because essential bank reserve requirements in Indonesia are at least four times the reserve requirements of those in the United States for their local banks. An example of this is Bank Syariah Mandiri, which has one of the highest liquidity ratios of any global bank, and this is currently at approximately 24%.

Trust: Profitable And Long-Lasting Relationship

Bank Syariah Mandiri’s management team consists of international experts with extensive financial experience across many sectors, and industries whose primary mission is to manage, preserve and enhance the wealth of all bank clients.

We believe you will find our global perspective, know-how, and tailored solutions not only distinguish us from other private international banks, but provide you with the kind of banking expertise, performance and security you require in the on-going management of all your financial affairs.

Ease: Opening An Offshore Bank Account

An application for bank account opening at Bank Syariah Mandiri is a simple process, and can be facilitated from anywhere in the world, but before you can open NROPA account you must be referred by someone.

Throughout the entire process Bank Syariah Mandiri’s executive bankers are easily accessible and available to help you with any financial questions you may have via email.

###

###

####