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Smartag International provides fintech solutions to rural Indonesia.

BANKING AND CREDIT NEWS-March 6, 2018-Smartag International provides fintech solutions to rural Indonesia

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Smartag International, Inc. (OTC Markets: SMRN) has announced that Smartag International, Inc. has entered into a joint venture agreement with PT. Supratama Makmur Sejahtera ("PTSMS"), an Indonesian Fintech company to form a Joint Venture Indonesian PMA company in which Smartag will own 51% equity and PTSMS will own 49%, the company said.

This follows an earlier MOU signed on October 12, 2017 between PTSMS and PT Rijan Dinamis Selaras ("RDS") representing Pondok Pesantren Riyadhul Jannah Pacer Mojokerjo, founder of Consultative Assembly of Indonesian Boarding Schools which has a network of 28,000 boarding schools to undertake a Fintech project (the "Indonesian Project").

The new Indonesian PMA company plans to undertake the Indonesian Project to provide a rural e-Wallet Fintech services to approximately 10,000 boarding school students which are owned by many local Islamic Baitu Maal or BMT co-operatives within 3-5 years.

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Publication:M2 Banking & Credit News (BCN)
Date:Mar 6, 2018
Words:174
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