OJK plans to roll out new regulations governing fintech peer-to-peer lending activities in order to strengthen the sector’s operations, and increase consumer protection. The changes in the regulation covers ownership of the fintech lender, funding limits, equity and capital requirements,
The Financial Services Authority (OJK) has extended the Covid-19 stimulus policy in the Non-Bank Financial Industry (IKNB) sector, which was originally set to expire on April 17, 2022, to April 17, 2023. This policy extension includes restructuring activities by multi
OJK has officially launched a Roadmap for Indonesian Banking Development (RP2I) 2021 – 2025 for the Rural Banks (BPR) and Sharia Rural Banks (BPRS). BPRs and BPRS are expected to unlock synergies from the wider financial services ecosystem, and increase
OJK recorded that the banking industry’s credit distribution reached US$ 40 billion (IDR 5,653 trillion) as of September 2021, a 2.21% year-on-year increase. State-owned banks disbursed ~51% of the total credit volume as of Q3, and increased their lending by
Domestic economic outlook from consumers and businesses have strengthened as Indonesia loosens its social distancing policies (PPKM). The government implemented a number of easing measures in November, including increasing the capacity of shopping malls and public transportation. This is reflected
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”) formed a task force (“Satgas”) to create a roadmap for Phase II of the Sustainable Finance principles for 2021-2025. The task force consists of 47 financial service institutions from the banking, capital markets and
OJK launches the inaugural Financial Inclusion Month, along with the financial services industry in October. The Government of Indonesia sets the ambitious target of 90% of the population to be financially included by 2024, as part of a strategic drive
The Financial Services Authority (OJK) has extended credit restructuring until 2023 as banks are showing signs of solid risk management. Credit restructuring has declined and bank reserves have increased. OJK reported a total of USD 54.5 billion (IDR 778 trillion)
The Financial Services Authority (OJK) has extended the grace period for banks’ credit restructuring by an additional year to March 31, 2023. Chairman of the OJK Board of Commissioners, Wimboh Santoso, explained that this was to accelerate national economic recovery.
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