Bank Indonesia (BI) reports that there are several banks that have yet to meet the Government’s target of 20% loan allocation to the MSME sector in Indonesia. Key reason for failing to meet these targets is due to the lack
The Financial Services Authority (OJK) recorded that the banking industry’s credit disbursement grew by 2.21% year-to-year, and reached US$ 39.5 billion (IDR 5,653 trillion) as of September 2021. OJK spokesperson, Sekar Putih Djarot, shared that the credit growth indicates stability
Bank Indonesia (BI) introduces BI-Fast, a new payment system to replace the current National Clearing System of Bank Indonesia (“SKNBI”). The key pain point of the SKNBI system is the lag time, up to one hour, needed for transaction settlements.
Indonesia’s corporate sector has begun to show signs of recovery since the CV-19 pandemic. OJK’s Chairman, Wimboh Santoso, shared that there are three indicators that show improvement in the performance of the corporate sector. The indicators are: 1) the increase
Several fintech providers, Akseleran, Modal Rakyat, Modalku etc., reported significant growth in their origination for Q3. OJK noted that the monthly distribution of fintech lending reached US$ 1.06 billion (IDR 14.95 trillion) in August 2021, a 205% increase compared to
The International Monetary Fund (IMF) forecasts Asia region’s economic growth for 2021 from the previous 7.6% to 6.5% in April. The agency cited the spread of Covid-19 Delta variant, supply chain disruptions, and high inflation, as material risks depressing the
Bank Indonesia (BI) extended the minimum credit card payment limit of 5% to mid-2022. The central bank, or BI, also extended the reduction in late payment penalties as one of the measures to support the ongoing economic recovery. According
The government has allocated a budget of US$6.7 billion (IDR95.13 trillion) for the MSME sector through the National Economic Recovery (“PEN”) program this year. Coordinating Minister for Economic Affairs, Airlangga Hartarto, said the current realisation is 64.8%, reaching 32.72
The transportation sector plays an important role in the economic recovery process. Minister of Transportation, Budi Karya Sumadi, shared that Indonesia’s economic growth of 7.07% in 2021 Q2 was driven by physical mobility of consumers and businesses. Budi shared that
Bank Indonesia (BI) noted that the distribution of credit by banks in the last month began to show a steady increase. The value of loans disbursed in August 2021 reached USD 390.4 billion (IDR 5,574.9 trillion) growing at 1% on
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