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Indonesia invests in domestic production for medical devices
The government is encouraging the manufacturing of medical devices to create a resilient supply chain during the Covid-19 pandemic. To date, Indonesia has been able to produce 16 of 19 categories of medical devices in-country. One of the government’s initiatives
The fintech lending sector is expected to consolidate
Based on OJK data, in 2019, there were 164 registered fintech lenders. The number fell to 152 at the end of last year. As of September, the number of fintech lending was at 107. Head of the OJK Non-Bank Financial
Sri Mulyani projects economic growth of 5% for the third quarter
Finance Minister, Sri Mulyani, is optimistic that economic growth in the third quarter will reach the range of 4%-5%. Economic activity has resumed, driven by the gradual easing of the Implementation of Community Activity Restrictions (PPKM) since last month. Optimism
Xendit becomes the next Unicorn in Indonesia after raising US$150million
Xendit announced the closing of its Series C funding round, raising US$ 150 million (IDR 2.1 trillion) from a number of investors. The firm is currently operating in Indonesia and the Philippines, and plans to expand into other markets with
OJK reports record NPL since January 2019
OJK noted that the total disbursement of loans restructured by banks in July 2021, showed a drop to US$ 54.6 billion (IDR 778.9 trillion). However, they highlighted the risk of non-performing loans (NPLs) in the banking sector. The July NPL
Commercial banks remain sluggish in credit disbursement
The Financial Services Authority (OJK) reported that the realization of bank credit in July slowed down, despite its 0.5% year-on-year growth. OJK chairman, Wimboh Santoso, mentioned that the private commercial banks’ lending is contracting at 2.62% year-on-year, and 4.5% year-to-date.
Indonesia government Issues IDR 8.4 trillion in global bonds to achieve SDG
The Government of Indonesia issued a global bond of 500 million euros or the equivalent of Rp 8.4 trillion to achieve specific SDGs. This is also the first conventional SDG bond issuance in Asia. The Directorate General of Financing and
Jokowi Increases KUR Budget to IDR 285 Trillion
The government has increased the budget for the People’s Business Credit (KUR) program this year from US$17.5 billion (IDR 253 trillion) to US$20 billion (IDR 285 trillion). Coordinating Minister for Economic Affairs, Airlangga Hartarto, mentioned that the decision was part
Banks are developing Paylater credit products
Amid the pandemic, there has been a huge uptake in digital commerce, including the Paylater (BNPL) payment schemes offered by technology companies. Banks have taken various measures to remain competitive. Bank CIMB Niaga is currently developing in-house BNPL service, while
Unicorns continue to compete for share of MSME sector despite structural challenges
Since the pandemic, 15.3 million MSMEs have entered the digital ecosystem. However, the technology companies face several key challenges in targeting the MSME sector, such as loose supply chains for the FMCG sector, MSME credit gap, and storage capability. Nevertheless,