Vision and Mission


  • To unite, promote and provide services to its members with the purpose of developing/improving the quality of financial services business pursuant to its capacity and the prevailing regulation in Indonesia.
  • To promote cooperation, exchange of information and nurture good understanding among members of the association as well as to maintain good cooperation with government and with other third party creating a sound and harmonized relationships.
  • To develop and and improve the role of Financial Services Companies being one of the Financial alternatives in Indonesia as well as giving contribution for the development of national economy.
  • To give opinion or suggestion to the government in order to establish a sound and competitive business climate for the financial services industry in Indonesia and to uphold the welfare and common interest of its members.
  • To represent the financial service companies in Indonesia in effort to protect their interest in the discussions relating to the development of financial services industry both domestically and abroad.


  • To create the Indonesia Financial Services Association as the main institution for the exchanging the ideas and information, and for accommodating, researching and processing the material and issues related to the Financial Companies business in the broadest sense of words.
  • To accommodate and seek solution for the problems encountered by the members and if necessary to give opinion to the government institutions, either central or local province, and/or other relevant authorities.
  • To furnish information, to give advice, to provide education, training and guidance as well assistance to the members in order to improve the capability and competency of their human resources so as their need on professional manpower can be fulfilled.
  • To form committees as might be deemed necessary, either at central or local province, in order to support the activity of the association.
  • To enter into cooperation and to maintain good relation with the instituti on/agency/bureau of the government or private sector, either in the country or abroad, as long as it is not in contravention with the purposes and objectives the association and the prevailing laws and regulation.
  • To engage in any other business activities as long as it is notin contravention with the purposes and objectives of the association.




The existence of finance industry (multi finance) in Indonesia is actually not too long ago, especially when compared with developed countries. From several sources, it is known that this industry began to grow in Indonesia in 1974. Its birth is based on a Joint Ministrial Decree (SKB) of three Ministers; Minister of Finance, Minister of Industry, and Minister of Trade.

A year after the issuance of the joint decree, PT Pembangunan Armada Niaga Nasional was established in 1975. Then, the Company changed its name to PT (Persero) PANN Multi Finance. Then through the Presidential Decree (Keppres) no. 61/1988, which was further followed up by Minister of Finance Decree no. 1251 / KMK 013/1988, the Government opens wider opportunities for the finance business, with activity coverage including leasing, factoring, consumer financing, venture capital and credit cards.

Being a similar industry, the development of leasing industry is relatively slower compared to the banking industry. Especially when compared to the banking era of post 1988 Deregulation Package where banks emerged and mushroomed. The Government's banking deregulation has produced large numbers of banks, although in a small scale. But many people pointed this 88 Deregulation Package being the source of furture gloomy banking period. The peak, occurred in 1996 when the government liquidated 16 banks followed by the entry of several other banks in the care of the Indonesian Bank Restructuring Agency (IBRA).

However, finance companies are also capable of developing quite impressively. Until now, leasing in Indonesia has participated in the company's financing. The type of goods financed continues to increase. If previously it is focused solely on transportation, it now includes offices, manufacturing, construction and agriculture. This indicates that multifinance is increasingly recognized by national business players.

There are some interesting things if we look at the concentration and development of leasing companies. In the era of 1989, for example, this industry in Indonesia tends to increase its assets. The hunt for such assets is caused by economic challenges because they make them appear bigger, healthier and stronger. Companies that stayed in the original scale were in trouble and eventually closed altogether.

With a large asset and business scale, corporate perceptions are more reliable than others. For those whose capacity is limited, they try to keep appearing majestic and handsome. Then, start lyrics and mutual exploration. The next scenario, many leasing companies are joined in one group. This step seems to have a positive result. In addition to capital and bubbled assets, credibility and market control are also boosted.

But the puffing spirit of asset gradually faded. In the following year (1990), the leasing industry began to return to its basic economic principles. They prefer as much profit as possible. Actually, this orientation change is triggered by the increasingly tight competition in the leasing industry. As a result, prudence is somewhat neglected. The indication, the requirement to get the lease becomes more loose. In fact, reportedly in Bengkulu, one can get a lease just by submitting an ID Card (KTP).

In 1991, there was once again a major change in the finance company. Along with the tight money policy (TMP = Tight Money Policy), better known as Sumarlin I and II Breakthrough - interest rates also skyrocketed. As a result, many already approved credits must be postponed.

In terms of capital, TMP resulted multi-finance companies ran out of blood. The flow of funds that should be folded if any, the price is very high. That is why many of them combine their efforts by joining, they are easier to get credit, including from abroad.


Asosiasi Leasing Indonesia (ALI)

On July 2nd, 1982, the leasing companies in Indonesia formed their own organization named Indonesian Leasing Association (ALI) with its domicile in Jakarta.

This association served as the sole communication forum among the leasing companies in Indonesia. In this forum they together talk about and solve various problems encountered. ALI is also present to fight for the interests of its members to the government on the one hand and on the other hand, this organization also intends to be a bridge to forward the wishes and guidance of the government to its members.

A series of ideal targets became the goal of the establishment of ALI. Among them to promote and develop the role of financing institutions in Indonesia and contribute to the national economy.



The presence of ALI has been benefited all leasing business players in Indonesia and ALI has successfully conducted various activities for the benefit of its members, including assisting the development of leasing industry in Indonesia together with the Government.

Along with the growth of the financial services business sector and to accommodate the aspirations of all its members, on July 20th, 2000 a decision was made to change the name of the association from ALI to Indonesian Financial Services Association (IFSA) has been adopted.

In its development, on December 21st, 2000 the Indonesian Factoring Association (AFI) has also merged into IFSA.

The above mentioned decision was in line with the members business existence that financial services companies are allowed to undertake the business activities of leasing, factoring, consumer financing and credit cards.

In accordance with the purpose of its establishment, APPI together with the government continues to give contribution and more meaningful role in the improvement of the national economy, especially in the financial services business sector.


Logo Of The Association

    APPI Logo Concepts & Meanings

  • The Indonesian Financial Services Association Association Symbol consists of a composition with four letters A, P, P, and I. A means Association, P (First) means Company, P (Second) means Financing and I means Indonesia.

  • The gradation of orange symbolizes all members of APPI ready to step in to support the finance industry to be a creative industry, innovative and never give up in the digitalization era.

  • The gradation blue symbolizes APPI dedication to carry out the mandate of the trust that has been given by its members to represent the finance industry and mobilize the financing industry togetherness.

  • The letter A curves illustrates the meaning of the symbol of the arrow and the boat screen which symbolizes the APPI ready to enter a fluctuating digital era with endless innovation and creativity.

Details of Symbol Composition

2022 - 2027 Management

Supervisory Board

Head of Supervisory Board
Wiwie Kurnia
President Commissioner, Mega Auto Finance
Member of Supervisory Board
Roni Haslim
President Director, BCA Finance

Executive Committee

Suwandi Wiratno
President Director, Chandra Sakti Utama Leasing
Secretary General
Sigit Sembodo
Managing Director, Bussan Auto Finance
Rosalina Dhanudimuljo
President Director, Sinarmas Multifinance

Head of

Accounting, Tax & Development of Regional Communication Forum
Gusti Wira Susanto
Compliance, Risk Management, and Sharia Financing
Dewa Made Susila
President Director, Adira Dinamika Multi Finance
Government Relationship I
Agus Prayitno Wirawan
President Director, Toyota Astra Financial Services

Government Relationship II
Ristiawan Suherman
President Director, CIMB Niaga Finance
Industrial Development
Harjanto Tjitohardjojo
President Director, Clipan Finance Indonesia
Legal and Education
Iwan Setiawan
President Director, Mega Finance
Joint Venture Company I
Yap Tjay Hing
President Director, KB Finansia Multi Finance

Joint Venture Company II
Ikuo Sugiyama
President Director, Hexa Finance Indonesia
Financial Services Industry Relationship
Primartono Gunawan
Director, BRI Multifinance Indonesia
Sustainable Finance and the Digital Financial Industry
William Francis Indra
Director, Mandiri Tunas Finance

Experts Council

Head as well as Member of Expert Council
Susilo Sudjono
Independent Commissioner, Astra Multi Finance
Member of Expert Council
Dennis Firmansjah
President Commissioner, Aditama Finance

Composition of Management for the Period 2000 - 2022

APPI Committee 2022-2027

4-Wheel Field Committee

Ronny, Oto Multiartha
Harry Latif, Adira Dinamika Multi Finance
Devy Santoso Jayadi, Toyota Astra Financial Services
Kurniawan Kartawinata, CIMB Niaga Finance
Raden Ari Priyadi, Pool Advista Finance
Usman, Astra Sedaya Finance
Jusuf Setiawan, Dipo Star Finance
2-Wheel Field Committee

Victoria Rusna, Summit Oto Finance
Alung Ng, Bussan Auto Finance
Andy Sutanto, Adira Dinamika Multi Finance
Ronald Bintoro, Federal International Finance
Donny Ardianto Pribadi, Mandiri Utama Finance
Heavy Equipment Committee

Hasin Soleh, Chandra Sakti Utama Leasing
Denny, Clipan Finance Indonesia
Jembar Ganda Ermaya, Komatsu Astra Finance
Electronic and Fund Financing Committee

Hery Susanto Dermawan, KB Finansia Multi Finance
Didiet Hardiyanto, Astra Multi Finance
Legal & Consumer Protection Committee

Ingrid Setiadharma, Adira Dinamika Multi Finance
Daniel Constantyn Adam, Dancons & Associates
Lora Oktaviani, Bussan Auto Finance
Epivania Caroline Galag, Home Credit Indonesia
Antonius Adhitama, KB Finansia Multifinance
Denny Tirtakusumah, CIMB Niaga Finance
Mohammad Dimaz Radhitya, Chandra Sakti Utama Leasing
Febriananto Lamdwijaya, Dipo Star Finance
Merzanti Backsin, Clipan Finance Indonesia
Wahyu Razak, Moladin Finance Indonesia
Risk Management Committee

Denny Riza Farib, Adira Dinamika Multi Finance
Benedictus Yulius Ariyasatya, Bussan Auto Finance
Johannes Liong, BCA Finance
Jekson B. Simanjuntak, Mandiri Tunas Finance
Marie Yovanka, KB Finansia Multifinance
Soni Wibowo, CIMB Niaga Finance
Danny Rachmam Pratama, Dipo Star Finance
Heru Absoro, Bussan Auto Finance
Supriyanto, JACCS MPM Finance
Accounting & Tax Committee

Iman Santoso, Ernst & Young Indonesia
Silviana Halim, Astra Sedaya Finance
Puspitasari Saputra, BCA Finance
Lindawati Soetopo, Adira Dinamika Multi Finance
Reinaldo Palma Sianturi, Dipo Star Finance
Andy Yonatan, Moladin Finance Indonesia
Financial Literacy & Inclusion Committee

Indah Sitoresmi, Mega Finance
Gayatri Handari Kusumawardhani KH, Home Credit Indonesia
Andreas Wasono Saputro, Clipan Finance Indonesia
Lusiantini, CIMB Niaga Finance
Ananda Gitasari, Astra Financial
Human Resources Committee

Yulia Diniaty Fitria, Chandra Sakti Utama Leasing
Katarina Wulandari, Astra Sedaya Finance
Ollyvia Yanuar, Bussan Auto Finance
Bey Ade Krisnadi, KB Finansia Multi Finance
Sustainable Finance and the Digital Financial Industry

Citra Judith Lupitadevi, Mandiri Tunas Finance
M. Fauzan, Chandra Sakti Utama Leasing
Michael E. Sudibyo, Kredivo Finance Indonesia
Akmal Budiman, Bussan Auto Finance
Sharia Financing Committee

Yusron Hibrizie, Adira Dinamika Multi Finance
M. Salman Yusuf, Trihamas Finance Syariah
Wahyu Eko Utomo, CIMB Niaga Finance
Ardinan Santoso, Bussan Auto Finance
Arry Cahyono
IT & Digital Finance Committee

Kanda Octaviano, Mandiri Tunas Finance
Denny Kurniawan, Bussan Auto Finance
Petrus Muara, Chandra Sakti Utama Leasing
Yanni Sukaimi Hendra, Clipan Finance Indonesia
Banking Relationship Committee

Puti Maretnasari, BRI Finance
Ramdhan Safitri, Mandiri Tunas Finance
International Joint Venture Committee

Chandra Jeui Jung, Sunindo Kookmin Best Finance
Compliance & AML CFT Committee

Veronika Dyah Puspitaningrum, Adira Dinamika Multi Finance
Yanuar Hakim, CIMB Niaga Finance
Krisna Mahendra, Home Credit Indonesia
Anggie Setia Ariningsih, Commerce Finance

Regional Communication Forum