OJK is closely monitoring the high levels of risky credits (or loans at risk) at banks to ensure that financial markets remain healthy as Indonesia enters the third year of the C-19 pandemic. OJK shared that the gross non-performing-loans (NPL)
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
There has been an increase in partnerships between peer-to-peers (P2P) and rural banks (BPRs), in line with OJK’s recent guidelines for cooperation between the two market actors to lend to MSMEs. Amartha, P2P, has recently partnered with BPR Hariarta Sedana
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 noted that the distribution of credit by fintech lenders to the productive sector continues to increase, reaching US$ 8 billion (IDR 114.76 trillion) as of October, and 43.6% of the total disbursements are channeled to productive sectors. In 2020,
Institutional lenders (sometimes referred as ‘super lenders’) currently dominate in providing capital for fintech lending. Based on OJK data in September 2021, retail investors contributed 22.8% of outstanding loans with a value of US$ 430 million (IDR 6.14 trillion). However,
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
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
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