Ada Pertanyaan? Hubungi Kami 
2026 Hak Cipta Milik Hukumonline.com
Produk Pilihan
Ada Pertanyaan? Hubungi Kami Marcell Sihombing, Fathan Qorib
Muliaman Hadad, OJK's Chairman. Photo by: RES
The government has already launched six policy packages in a bid to stimulate domestic economic growth. In response to these policies, the Financial Services Authority (OJK) has also established several programs in accordance with its role as the supervisor of Indonesia’s financial-service sector.
The new programs encompass foreign-currency funding for banks, the implementation of credit-risk management, as well as initiatives aimed at encouraging the development of micro-, small-, and medium-scale businesses (UMKM) throughout the country via Indonesia Eximbank (Lembaga Pembiayaan Ekspor Indonesia - LPEI) and Capital Venture Companies (Perusahaan Modal Ventura – PMV).
In terms of foreign-currency initiatives, the OJK has now relaxed the requirement for banks to set up trust businesses. This new policy aims to improve the capabilities of banks as regards the management of funds owned by businesses, which usually take the form of large amounts of foreign currency.
Muliaman D. Hadad, Head of the OJK’s Board of Commissioners, recently expressed his hope that this relaxation would enable the country’s banking sector to accommodate foreign-currency funds including those that relate to the oil and gas sector, which usually make use of foreign trustees. Moreover, this regulatory easing should also increase the foreign-currency supply, which will in turn help to stabilize exchange rates and expand domestic foreign-currency markets.
Finally, the new policies should also improve the competitiveness of the country’s national banking industries through the diversification of domestic banking activities and services. Currently, only three banks are engaged in trust businesses (Bank Mandiri, BRI, and BNI). In the wake of this new regulatory easing however, 20 conventional banks and three foreign-bank subsidiaries have now become eligible to engage in such business activities.
Another initiative launched by the OJK is the, “One-Project Concept,” which has been set up in order to determine the quality of credit. The current 2012 provisions regarding the quality assessment of conventional bank assets stipulate that banks must treat all projects and debtors equally, whether the credit in question is being provided by one bank or more than one bank.
In order to implement a process of credit-risk management against a debtor who has obtained credit facilities from several banks, it has been reemphasized that if the cash flow in question has been organized separately, then the quality assessment of the credit granted to several projects as undertaken by a single debtor can be differentiated.
Meanwhile, in the insurance industry, the OJK is currently working on a farming insurance scheme which will hopefully be implemented by a consortium in cooperation with the Ministry of Agriculture, the Ministry of State-owned Enterprises, and the State-owned insurance company. The insurance scheme is aimed at rice farmers, and 20% of the premiums are to be paid by the farmers themselves, while the remaining 80% is to be borne by the government.
The OJK is also looking to establish a financing consortium with the Ministry of Finance and the Indonesian Agency for Creative Economy. This policy is aiming to synergize non-banking financial industries, which will hopefully accelerate financing across various sectors of the economy, including exports and the creative economy, as well as UMKM and cooperatives (UMKMK). This mechanism has the potential to increase financing by around IDR 5-10 trillion.
Another new program involves the empowerment of the LPEI, which will hopefully optimize the institution’s role in supporting government policy that promotes the national-export program. The program will also encourage the LPEI to finance the UMKM sector, thereby stimulating the rise of new entrepreneurs who will provide more work opportunities. And finally, the program aims to improve the LPEI’s role in promoting a financial-inclusion program.
Special Characteristics
The OJK has come up with a program that will hopefully revitalize capital ventures within the country. According to Mr. Hadad, the new program aims to promote financing for UMKM, especially creative-economy start-ups. Hadad further revealed that most PMVs engage in profit-sharing financing schemes, much like banks do. Therefore, there’s currently a mismatch between equity capital schemes and their sources of funding, which are largely in the form of loans.
This policy encompasses the expansion of venture-capital types and extends the kinds of business entities and legal entities that can engage in PMVs. Aside from limited liability companies and cooperatives, limited-partnership (perseroan komanditer – PK) entities can now engage in PMV schemes. A capital venture fund has also been established in the form of a collective-investment contract (kontrak investasi kolektif – KIK) which can be utilized by PMV companies and custodians.
Dumoly F. Pardede, the OJK’s Deputy Commissioner of Non-Bank Financial Industry Supervisors (IKNB) II recently stated that the OJK had incorporated CV and KIK into PMV schemes after realizing that the PMV industry was unique in its tax-free status. This particular characteristic perfectly matches with PK, who can also enjoy taxpayer tax exemptions under Law No. 16 of 2009 on General Provisions and Procedures of Taxation (Tax Law).
“PK entities require close attention, as they enjoy several tax exemptions according to the Tax Law,” asserted Mr. Hadad.
KIK, on the other hand, were chosen because such schemes can collect a wide spread of funds from the public. These collected funds can then be channeled into equity participation mechanism,s converted obligations, and the financing of start-ups.
(sp)
Marcell Sihombing, Fathan Qorib
Muliaman Hadad, OJK's Chairman. Photo by: RES
The government has already launched six policy packages in a bid to stimulate domestic economic growth. In response to these policies, the Financial Services Authority (OJK) has also established several programs in accordance with its role as the supervisor of Indonesia’s financial-service sector.
The new programs encompass foreign-currency funding for banks, the implementation of credit-risk management, as well as initiatives aimed at encouraging the development of micro-, small-, and medium-scale businesses (UMKM) throughout the country via Indonesia Eximbank (Lembaga Pembiayaan Ekspor Indonesia - LPEI) and Capital Venture Companies (Perusahaan Modal Ventura – PMV).
In terms of foreign-currency initiatives, the OJK has now relaxed the requirement for banks to set up trust businesses. This new policy aims to improve the capabilities of banks as regards the management of funds owned by businesses, which usually take the form of large amounts of foreign currency.
Muliaman D. Hadad, Head of the OJK’s Board of Commissioners, recently expressed his hope that this relaxation would enable the country’s banking sector to accommodate foreign-currency funds including those that relate to the oil and gas sector, which usually make use of foreign trustees. Moreover, this regulatory easing should also increase the foreign-currency supply, which will in turn help to stabilize exchange rates and expand domestic foreign-currency markets.
Finally, the new policies should also improve the competitiveness of the country’s national banking industries through the diversification of domestic banking activities and services. Currently, only three banks are engaged in trust businesses (Bank Mandiri, BRI, and BNI). In the wake of this new regulatory easing however, 20 conventional banks and three foreign-bank subsidiaries have now become eligible to engage in such business activities.
Another initiative launched by the OJK is the, “One-Project Concept,” which has been set up in order to determine the quality of credit. The current 2012 provisions regarding the quality assessment of conventional bank assets stipulate that banks must treat all projects and debtors equally, whether the credit in question is being provided by one bank or more than one bank.
In order to implement a process of credit-risk management against a debtor who has obtained credit facilities from several banks, it has been reemphasized that if the cash flow in question has been organized separately, then the quality assessment of the credit granted to several projects as undertaken by a single debtor can be differentiated.
Meanwhile, in the insurance industry, the OJK is currently working on a farming insurance scheme which will hopefully be implemented by a consortium in cooperation with the Ministry of Agriculture, the Ministry of State-owned Enterprises, and the State-owned insurance company. The insurance scheme is aimed at rice farmers, and 20% of the premiums are to be paid by the farmers themselves, while the remaining 80% is to be borne by the government.
The OJK is also looking to establish a financing consortium with the Ministry of Finance and the Indonesian Agency for Creative Economy. This policy is aiming to synergize non-banking financial industries, which will hopefully accelerate financing across various sectors of the economy, including exports and the creative economy, as well as UMKM and cooperatives (UMKMK). This mechanism has the potential to increase financing by around IDR 5-10 trillion.
Another new program involves the empowerment of the LPEI, which will hopefully optimize the institution’s role in supporting government policy that promotes the national-export program. The program will also encourage the LPEI to finance the UMKM sector, thereby stimulating the rise of new entrepreneurs who will provide more work opportunities. And finally, the program aims to improve the LPEI’s role in promoting a financial-inclusion program.
Special Characteristics
The OJK has come up with a program that will hopefully revitalize capital ventures within the country. According to Mr. Hadad, the new program aims to promote financing for UMKM, especially creative-economy start-ups. Hadad further revealed that most PMVs engage in profit-sharing financing schemes, much like banks do. Therefore, there’s currently a mismatch between equity capital schemes and their sources of funding, which are largely in the form of loans.
This policy encompasses the expansion of venture-capital types and extends the kinds of business entities and legal entities that can engage in PMVs. Aside from limited liability companies and cooperatives, limited-partnership (perseroan komanditer – PK) entities can now engage in PMV schemes. A capital venture fund has also been established in the form of a collective-investment contract (kontrak investasi kolektif – KIK) which can be utilized by PMV companies and custodians.
Dumoly F. Pardede, the OJK’s Deputy Commissioner of Non-Bank Financial Industry Supervisors (IKNB) II recently stated that the OJK had incorporated CV and KIK into PMV schemes after realizing that the PMV industry was unique in its tax-free status. This particular characteristic perfectly matches with PK, who can also enjoy taxpayer tax exemptions under Law No. 16 of 2009 on General Provisions and Procedures of Taxation (Tax Law).
“PK entities require close attention, as they enjoy several tax exemptions according to the Tax Law,” asserted Mr. Hadad.
KIK, on the other hand, were chosen because such schemes can collect a wide spread of funds from the public. These collected funds can then be channeled into equity participation mechanism,s converted obligations, and the financing of start-ups.
(sp)