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Jokowi’s plan to digitise Indonesia’s economy 
Digitisation of the economy is one of the focus areas for Indonesia’s growth. President Joko Widodo (Jokowi) is targeting a minimum of 20 million MSMEs to enter the digital ecosystem in 2022, followed by 24 million by 2023, and 30
Indonesia’s telecommunication sector faces fierce price competition
Internet tariff in Indonesia is the 12th cheapest globally, according to a cable.co.uk report. Cellular operators warned that this may threaten the sustainability of the telecommunications sector in the country. The average price for mobile internet packages in Indonesia is
AFPI highlights the trend of fintech P2Ps acquiring banks 
There has been interest from fintech P2P lenders to acquire banks, as part of their efforts to increase share of MSME lending in Indonesia. Most recently, P2P fintech, Amarta, was reportedly in talks to acquire Bank Victoria Syariah by taking
Indonesia’s interest rates for deposits will continue to decline at a slower rate for 2022
The Deposit Insurance Corporation (LPS) estimates that the interest on deposits will continue to decline but at a slower rate. The decline in interest rates has slowed down since the end of 2021, while liquidity conditions are still positive. At
IMF highlights three global risks that can slow down Indonesia’s economic recovery
The International Monetary Fund (IMF) highlighted three global risks that may overshadow Indonesia’s economic recovery. The first risk is the uncertainty of the pandemic, driven by low vaccination rates, risks of lockdowns and the emergence of new variants. The second
Nikel develops Artificial Intelligence credit decision engine to promote affordable small business lending
Nikel, formerly known as Impact Credit Solutions, has recently completed a project, Building Credit Footprints for the Unbanked. The project leverages Artificial Intelligence and machine learning techniques in credit modelling to develop a credit decision engine which enables financial institutions
Jokowi Issues JKN presidential instruction for nation-wide health insurance
The National Long-Term Development Plan (RPJMN) targets 98% of Indonesia’s population to be covered by the National Health Insurance (JKN). However, as of December 2021, this target has only reached 86% of the population, and consequently, President Joko Widodo issued
Four largest banks drive operation efficiency by digital transformation
There are four banks categorised as a KBMI, or bank with total capital across group holdings above US$ 4.86 billion (IDR 70 trillion). They are Bank Rakyat Indonesia, Bank Mandiri, Bank Central Asia, and Bank Negara Indonesia. According to the
Sri Mulyani extends MSME tax incentive for 2021
The Government of Indonesia announced the extension of tax incentives for Micro, Small and Medium Enterprises (MSMEs). In addition, Bank Indonesia issued a regulation on banking obligations to fulfil credit distribution for MSMEs and low-income individuals (PBR) at least 20%
OJK reports increased levels of loans at risks
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)