- The Financial Services Authority (“OJK”) has just issued a national policy package for the financial services sector with the overall objective of creating multiplier effects through the growth of credit and financing within real sectors.
- In general, the policy package addresses the following eight points: 1) Incentive allocations for financing companies which finance export-oriented industries; 2) The revitalization of the role of financing companies, especially for hedging and reinsurance transactions; 3) The development of strategic national tourism areas via the capital market; 4) Credit facilitation for micro- and small-scale enterprises; 5) The adjustment of prudential provisions within the banking sector (e.g., risk-weighted assets, etc.); 6) The development of the financial technology sector through the issuance of a new framework on equity crowdfunding; 7) The optimization of the usage of capital-market means (e.g., green bonds, sharia instruments, etc.); and 8) The obligation for financing companies to finance the productive sector.
- For more on this story, see Hukumonline: “Imbas Garis Besar Paket Kebijakan Jasa Keuangan OJK”.
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