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OJK reports growth in credit disbursement and credit quality
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
Introduction of ‘BI-Fast’ Indonesia’s new payment system
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 show signs of recovery
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
16 million MSMEs have entered digital economy but they continue to face challenges
With the increasing relevance of the e-commerce sector, more MSMEs have digitized. However, the government has identified 7 barriers faced by MSMEs to successfully digitize. Some of those barriers are lack of innovation in the digital economy, limited integration with
Sri Mulyani highlights the challenge for emerging economies to meet climate targets
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
Fintech credit allocation continues to grow amid OJK’s tightening of regulation
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
Indonesia’s strategic role in reducing global carbon emissions by 2030
To keep global temperature increase below 1.5 degrees Celsius, the world needs to reduce at least 23 billion tons of carbon emissions by 2030. President Director of PT Rimba Makmur Utama, Dharsono Hartono, said that Indonesia has a strategic role
IMF cuts its previous projection of Asia’s economic growth to 6.5%
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
GoTo’s valuation is estimated to reach IDR 400 trillion
GoTo Group has just received funding from a subsidiary of the Abu Dhabi Investment Authority (ADIA) of US$ 400 million (IDR 5.7 trillion). The funding is estimated to boost the company’s valuation to US$ 28.5 billion (IDR 400 trillion), a
Thousands of micro debtors paid off their debt to the state as part of the relief scheme
The Ministry of Finance (Kemenkeu) received a debt settlement of US$ 1.5 million (IDR 20.48 billion) from 1,292 small debtors including MSMEs and students. These state receivables are part of a crash program or debt relief scheme provided by the
