Grab partners Bank BRIsyariah to provide finance services for GrabFood partners

Grab has partnered with Bank BRIsyariah to provide culinary-focused small medium enterprises (SMEs) in Surabaya and Yogyakarta opportunities for financing. This will allow these enterprises who are  GrabFood’s partners in Surabaya and Yogyakarta to receive financing access from Bank BRIsyariah through various schemes.These schemes are a "benefit-micro" financing with a maximum ceiling up to IDR 200 million, purchase sale schemes (murabahah), and leases of up to five years.Grab will provide a recommendation of its GrabFood merchants that have been on the Grab platform for more than three months and have made up to a hundred active transactions with Bank BRIsyariah. Afterwards, Bank BRIsyariah will select which merchants can receive financing access through the Shariah micro loan scheme.Ridzki Kramadibrata, managing director, Grab Indonesia said that the partnership will allow both parties to add value to GrabFood partners across Indonesia. This is to allow them get additional capital and facilitate them to grow their culinary business.He added the partnership also emphasises the brand's commitment to improve the welfare and productivity of driver partners. This is by allowing GrabFood partners to receive strategic benefits, both in terms of financially, including opportunities for business development. Meanwhile, Grab can also utilise Bank BRIsyariah’s various banking products and services, for transactional, fundraising, or financing, Kramadibrata added.“Through this partnership, we are optimistic to bring added value to GrabFood partners and its users, while transforming it into a number one choice for everyone. BRIsyariah becomes the very first Sharia bank that provide benefit-micro financing for GrabFood partners.” Widodo Januarso, director of retail business, Bank BRIsyariah said.Read more: GrabAds’ head on the brand’s ‘unique ability’ to reach 1 in 6 people across SEA Grab launches dedicated ad biz unit GrabAds Grab enters online healthcare space with Ping An Healthcare partnership Grab to invest ‘significant portion’ of US$2bn funding into Indonesia