Developing and Monitoring Microfinance Institutions

The Financial Services Authority (“OJK”) has issued Regulation No. 14/POJK.05/2014 on Development and Monitoring of Microfinance Institutions (“Regulation”). The Regulation sets out guidelines for the OJK and regional governments to monitor and develop the operations of microfinance institutions (“Microfinance Institutions”).

Development and Monitoring Authority

The OJK has the authority to develop, regulate, and monitor Microfinance Institutions through coordination with the Ministry of Cooperatives and Micro, Small and Medium Businesses; and the Ministry of Interior Affairs.[1]